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PFM Blog

Devolved But Not Departed: The Federal Spending on Provincial Responsibilities 

public finance May 5, 2025 0

At a time when constitutional devolution has firmly placed health, education, and social protection within the provinces’ domain, the federal…

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Debt

Fiscal Policy and Public Debt: Trends and Challenges

public finance May 4, 2025 0

In the wake of unprecedented global economic disruptions—from pandemic-induced recessions to geopolitical conflicts and inflationary pressures—governments worldwide have grappled with…

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Economic Updates

From Pressure to Promise: Pakistan’s Inflation Hits Record Low 

public finance May 4, 2025 0

In a development few saw coming so sharply, Pakistan’s national inflation rate plummeted to a record low of 0.30% in…

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Budget 2025-26

From Silence to Surrender: Federal Ministries Asked to Return Unused Funds 

public finance May 4, 2025 0

In a rare but necessary administrative call to streamline fiscal discipline, the Government of Pakistan has directed all Principal Accounting…

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Economic Updates

Reading Between the Rates: Will SBP Play Safe or Surprise? 

public finance May 3, 2025 0

At a time when inflation has begun to soften and the rupee remains relatively stable, all eyes are now on…

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Debt

Circular Debt Stabilized, Not Solved: Pakistan’s Power Sector at a Crossroads 

public finance May 3, 2025 0

The numbers in Pakistan’s circular debt are staggering—but the recent Circular Debt Report – March 2025 issued by the Power…

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PFM Reforms

Green Finance Initiatives: SBP’s Role in Sustainable Development

public finance May 3, 2025 0

Pakistan’s transition to a low-carbon economy has gained momentum through the State Bank of Pakistan’s (SBP) pioneering green finance initiatives,…

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Taxation

Finance Acts: Annual Legislative Changes in Taxation

public finance May 2, 2025 0

Pakistan’s annual Finance Acts serve as the backbone of fiscal policy, introducing legislative changes that reshape taxation, influence economic behavior,…

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Taxation

Tax Expenditure Reports: Understanding Revenue Foregone

public finance May 2, 2025 0

Tax expenditure reports, often overlooked in public discourse, shed light on a critical fiscal reality: the substantial revenue governments forgo…

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PFM Reforms

Fiscal Management in Pakistan: Strategies for Sustainable Economic Growth

public finance May 1, 2025 0

Pakistan’s fiscal landscape stands at a critical juncture, balancing the urgent need for economic stability with the imperative of sustainable…

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