Business, Power, and Politics in Pakistan

Business, Power, and Politics in Pakistan

Zeerak Rana's guest today is Dr. Adeel Malik, an Associate Professor at the University of Oxford; International Development Department. His research focuses on the political economy of development - Pakistan and the Middle Eastern region. Dr. Adeel begins by highlighting one of the fundamental concerns for investors in Pakistan - the need for predictability and stability in the business environment. Large-scale investments often span several years, even decades, and require inter-temporal commitments. Investors seek assurances that their assets and investments will not be threatened or expropriated. In such uncertain environments, businesses tend to align themselves with the most stable and powerful institutions in the country. While he recognizes the pressing need for economic reform in Pakistan, he highlights the challenges associated with implementing such reforms. Tax reform, for instance, is a contentious issue as it directly affects powerful interest groups, such as real estate tycoons. These groups have significant political clout, making meaningful reform difficult to achieve. #newwaveglobal #pakistan #economy #politics

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