Published: July 22, 2026 | Category: Fiscal Federalism The formula that splits Pakistan’s money weights population at 82 per cent and poverty at a tenth, and it has not changed since 2010. Devolution reached Lahore and stopped. Pakistan’s money is divided by a formula, and the formula is old. The 7th National Finance Commission Award,…
Published: July 21, 2026 | Category: Development Six of Punjab’s ten poorest districts lie in the south. Because Pakistan’s poverty index is built mostly from schooling and health, it doubles as a scorecard for provincial service delivery. Poverty in South Punjab is usually explained as a growth lag — a region that industry and irrigation…
Published: June 30, 2026 | Category: Frontier Market Corporate Finance & Equity Strategy | Focus: Currency Mismatch Hedging, Cost of Equity (Kₑ), and PSX Export Valuations Investing in public equities within a frontier economy like Pakistan typically requires absorbing an aggressive macroeconomic penalty. In traditional corporate finance frameworks, the Cost of Equity (Kₑ) for a…
The SBP raised its policy rate by 100 basis points in April 2026 — surprising a market that had priced a hold. The reasoning runs deeper than the headline inflation number.
The China-Pakistan Economic Corridor has completed 43 projects worth $24.7 billion under its first phase, which focused heavily on power generation and road infrastructure. Phase Two, now fully underway, is a different kind of programme — less about megaprojects and more about industrialisation, supply chain integration, and converting completed infrastructure into productive economic activity. Wh
A balance sheet is a snapshot of what a company owns, what it owes, and what is left over for shareholders at a single point in time. Every listed company on the Pakistan Stock Exchange publishes one quarterly and annually. Most investors skip past it to the income statement. That is a mistake — the…
Pakistan’s total external debt and liabilities stood at approximately $138 billion as of late 2025, according to State Bank of Pakistan data. Public external debt — the portion owed by the government and public sector entities — reached $91.8 billion as of end-June 2025, a 6% increase year-on-year. Understanding the structure of that debt —…
The KSE-100 index recently hit an all-time high of 170,719 points. In PKR terms, the index has delivered extraordinary returns for investors who held through Pakistan’s 2023 crisis period. The question now is whether the index is still a value play — or whether the easy money has been made. Where the P/E sits The…
Pakistan’s Federal Board of Revenue collected Rs 11.744 trillion in FY2025 — a record figure and a 26.3% jump from the Rs 9.299 trillion collected in FY2024. The headline number looks like progress. The underlying ratio tells a harder story. Tax revenues as a share of GDP reached 10.6% in FY2025, up from roughly 8.5%…