Debt Restructuring
EAG advises debt restructuring and warns against import substitution policies Policymakers must acknowledge difficult choices the country faces and overcome policy paralysis to avoid a disorderly default The independent Economic Advisory Group (EAG) is concerned that the recent National Security Council (NSC) statement has failed to address the challenges Pakistan is currently facing. The lack […]
Trade Connectivity
By Economic Advisory Group Executive Summary The economic growth of nation states is linked to their ability to exploit connectivity and interdependencies within strong regional blocs. Contemporary trade theories, focusing on internal and external economies of scale, explain the emergence of global value chains, emphasizing the pivotal role played by intra-industry trade. The limited purchasing […]
Should IMF define Pakistan’s economic policies?
Agreement with lender driving country’s economic direction, targeted reforms ISLAMABAD: The latest IMF Country Report on Pakistan is out, and $1 billion are in. The report’s language is largely critical and cautionary. Whether one agrees with the IMF programme or not, one thing is clear – Pakistan’s economic direction, policy discussions and targeted reforms are […]
EAG welcomes focus on economy, cautions on overstretch of NSP
In its initial review of the recently released National Security Policy, the independent Economic Advisory Group (EAG) has welcomed the recognition of economics as the keystone of Pakistan’s national security while noting that under-investment in development is clearly detrimental to national security, especially in the medium and long-term. EAG cautions that in seeking to address […]
EAG analysis shows a rise in exports due to international demand and devaluation
Figure 1: Decomposition of Textile Exports into Price and Quantity Effects (based on PBS data as of 17th December 2021) The EAG in its vision document noted that the policy landscape in Pakistan has historically been dominated by sectoral policies which continue to prevent economic resources from moving towards more productive activities. Importantly, these policies […]
EAG reviews SSRC Reforms Agenda
Economic Advisory Group (EAG) in its Vision document has strongly argued in favour of revisiting the support price regimes and the relevant laws that hinder competition, including in the agriculture and commodities sector. A general principle we espouse is that economic activity should be contestable, i.e. individuals and firms should face the pressure of unrestricted […]
Roadmap for Economic Transformation launched
The Economic Advisory Group (EAG) has launched a document “New Vision for Economic Transformation”, which analyses the factors hindering the efficient allocation of resources hence contributing to the economic slowdown, and presents practical suggestions. The document was presented by Mr. Javed Hassan, Chairman EAG, and Mr. Ali Salman, Executive Director Prime. Mr. Asad Umar, Federal […]
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EAG clarifies its independent status after the establishment of group by similar name by the government
Responding to the announcement of formation of a “Macro-Economic Advisory Group” by the Government of Pakistan, the independent Economic Advisory Group (EAG) has issued a clarification. The Economic Advisory Group (EAG) is an independent group of economists, policy analysts, financial experts, and academics to deliberate on Pakistan’s economic policies. EAG was constituted in January 2021 […]
Liberalize and integrate: EAG outlines its vision of a new auto policy
Transformation of the Auto Industry needed from protection and indigenization to liberalization and integration The independent Economic Advisory Group (EAG) convened detailed deliberations to assay the outcome of contemporary automotive development policy, and the initiatives proposed in the Finance Bill 2021-22. It observed that prevalent policies do not present a path for transformation for the […]