It is comforting to note that Pakistan economy has breached the level of $400 billion economy. Per capita income had also breached the level of $1,800. With decrease in interest rates and inflation, the economy may get breathing space. Decrease in interest rates has eased the fiscal burden which will provide space to contain fiscal deficit at 3.9% of GDP and maintain primary surplus at 2.4% of GDP.
Prof. Khurshid Ahmad passed away on April 13, 2025 at the age of 93 years in Leicester, UK. He was born on March 23, 1932 in Delhi. He was a renowned scholar, academic, economist, prolific writer, policymaker and legislator.
Because of mere fate, a lot of people in the world, including Pakistan, have ended up in a position where they bear the torment of heat without much to do about it. They can not operate air-conditioners even when the temperature flares up and beyond the 35℃. Many do not even have one. “A man has only a certain capacity for battling with fate’, said Wodehouse. Well! this capacity is amazingly high in some people. But, there is still a long waiting period.
In a capitalistic democracy, the elite class is able to expend on political campaigns and hence take part in politics and where crony capitalism results in business and political class combining to pursue their self interest.
Islamic Economics Project 