Third Schedule offers smarter collection but is no substitute for deeper reform

Govt must let prices reflect costs and replace blanket subsidies with targeted cash support

Statist legacy continues to suppress entrepreneurship despite reform attempts

Indices show reform momentum, but taxation, informality weigh on outlook

When economy experiences stabilisation, reforms and rising poverty together, economic growth is missing

In long term, Pakistan needs to embrace economic democracy – a leaf from the Indonesian constitution

Statist economy, by restricting competition or picking up specific areas, allocates resources to protected sectors

Presence of govt entity in market creates uneven field, even if there is competition

Country requires robust domestic policy, but it shouldn't be traded with protectionism

It is premature to celebrate lower tariff without fixing what's broken at home