New York Post
보수 성향
사회
Typhoon leaves trails of destruction while wreaking havoc across Japan
A devastating typhoon has swept through Japan and left a trail of destruction in its wake.
"LEAVES" · 총 268건
필터 보기현재 지수
50.3
0 = 부정 우세
50 = 중립
100 = 긍정 우세
최근 7일 기준 86,260건을 분석한 결과, 뉴스 심리지수는 50.2(균형)입니다. 긍정 4,345건(5.0%)·중립 79,787건(92.5%)·부정 2,128건(2.5%)이며, 중립 비중이 뚜렷하게 높습니다. 성향 지수는 종합 14.7(중도 균형)입니다.
A devastating typhoon has swept through Japan and left a trail of destruction in its wake.
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EVERY June, Pakistan’s budget season follows a familiar pattern: business groups repeat their proposals for relief, the government defends its targets, and taxpayers prepare for additional burdens. Yet a more fundamental question is rarely asked — what is the budget ultimately meant to achieve, and does it reflect a clear long-term national purpose? In principle, the budget is the state’s main instrument for promoting growth, improving public services, reducing poverty and raising living standards. In Pakistan, however, it has increasingly come to resemble an accounting exercise: mobilise sufficient revenue to finance a growing state and meet fiscal benchmarks agreed with the IMF. The result is a lopsided process that remains focused on extracting more from those already within the tax net, while paying insufficient attention to the quality of public spending, the need to broaden the base, or the incentives required for investment, employment and productivity. The Tax Policy Office was expected to introduce a longer-term perspective to this debate, but that wider vision is still not evident. The burden continues to fall, predictably, on the formal economy. Corporations, salaried employees, entrepreneurs, exporters, documented businesses and investors remain the most visible and therefore the most easily taxed. What receives much less scrutiny is whether public spending is yielding meaningful improvements in citizens’ lives, particularly in a country where a large share of the population remains below the poverty line. Pakistan has absorbed much of the fiscal cost of devolution without fully realising its potential efficiency gains. This distortion has become more pronounced since the 18th Constitutional Amendment altered Pakistan’s fiscal structure. Health, education, labour welfare and other social services were devolved to the provinces, which now receive a substantial share of national revenues through the National Finance Commission Award. The logic was straightforward: provinces, being closer to citizens, would deliver services more effectively, while the federal government would gradually withdraw from devolved functions and reduce its own size and cost. That second part of the arrangement, however, remains largely unfulfilled. More than a decade later, successive governments have shown limited willingness to undertake the constitutional, administrative and institutional reforms required to right-size the federation. Pakistan has, therefore, absorbed much of the fiscal cost of devolution without fully realising its potential efficiency gains. The results are plain: weak learning, poor healthcare access, child malnutrition, low productivity, millions of children out of school, under-equipped hospitals, inadequate skills training and persistently low female labour-force participation. Yet, even against this backdrop, the provinces are expected to post a combined budget surplus of roughly Rs1.6 trillion. This surplus forms part of the consolidated fiscal framework that enables Pakistan to meet primary surplus targets under the IMF programme. Fiscal discipline is necessary; Pakistan’s record on deficits and debt leaves little room for complacency. But every rupee retained as surplus is also a rupee not directed towards schools, hospitals, technical training and local services. The balance appears to have shifted too far towards meeting accounting targets and too little towards building human capital. The irony is that while existing taxpayers are repeatedly told there is little room for relief, substantial untapped capacity exists elsewhere. Agriculture contributes nearly a quarter of GDP but remains lightly taxed, while property taxation is among the weakest in the region. Large agricultural and urban wealth holdings generate limited recurring revenue because assessment remains weak, enforcement uneven and valuations often disconnected from market reality. Since provinces have constitutional authority over agricultural income and property taxes, meaningful reform in these areas could broaden the base, improve fairness and reduce the state’s dependence on taxing the same formal businesses and individuals year after year. It would also help strengthen the sense that the fiscal burden is being shared more equitably. The next budget should therefore reset fiscal priorities. Rather than treating compliant taxpayers as an inexhaustible source of revenue, policymakers should present a credible path towards relief for documented economic activity: lower excessive tax rates on salaried employees, entrepreneurs and businesses, phase out the Super Tax, remove distortionary levies, reduce cascading taxation and bring greater predictability to policy. Better incentives would support investment, exports, formalisation and job creation — the key objectives of fiscal policy. But relief must be matched by credible efforts to broaden the tax base, improve spending efficiency and mobilise provincial revenues from agriculture and property. Fiscal sustainability cannot rest indefinitely on squeezing a shrinking pool of compliant taxpayers. Provinces, meanwhile, should be judged less by the size of their surpluses than by measurable gains in education, healthcare, skills, productivity and poverty reduction. Pakistan’s fiscal debate remains confined to the narrow question of how to raise more revenue. The more important issue is how public finances can create opportunity, improve living standards and support durable growth. A budget should be more than a balancing exercise between revenue and expenditure; it should also reflect a willingness to reform the structure of the state itself. Unless Pakistan completes the unfinished agenda of devolution, broadens the tax base and channels provincial resources towards human development, it may strive to meet fiscal targets without delivering the broader prosperity its citizens are entitled to expect. The writer is a former CEO of Unilever Pakistan and of the Pakistan Business Council Published in Dawn, June 5th, 2026
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• From penalising green technology to sidelining adaptation, the government’s spending choices seem to contradict its own climate commitments • Without new budget pillars, proper risk screening, end to ‘green taxes’, country’s fiscal plans will only deepen climate vulnerability FOR a country whose economic survival is tied to shoring up its climate-resilience, the government’s budgetary allocations have failed to reflect this pressing concern. Besides measures that discourage the adoption of solar energy and electric vehicles, the government continues to invest in mega-hydro projects despite adverse ecological impacts; proposes ‘false solutions’ such as carbon capture instead of reducing reliance on fossil fuels; and leaves the adaptation agenda by the wayside despite recurring floods. The upcoming budget, according to officials from the climate change ministry, features at least eight proposed projects focused on climate resilience, afforestation, green growth, biodiversity conservation, and environmental monitoring under the Public Sector Development Programme — with a total allocation of Rs2.78 billion. However, experts have repeatedly criticised the government’s seemingly “anti-climate policies”, particularly attempts to tax renewable energy, which they believe will undermine the climate-smart policy direction spurred by recent IMF and World Bank programs. The IMF’s Resilience and Sustainability Facility (RSF) requires Pakistan to revise its public investment framework so that at least 30 per cent of the project appraisal weighting for infrastructure projects reflects climate change adaptation and mitigation criteria. In the outgoing fiscal year, at least Rs86bn worth of PSDP projects were tagged as ‘climate adaptation’, and measures worth over Rs600bn classified as ‘climate mitigation’. “This year, these numbers will increase. However, the true essence of tagging must be followed — it should be inclusive, not just a box-ticking activity,” said SDPI Research Fellow Dr Khalid Waleed. Pakistan is no stranger to climate-induced disasters. From 1992 to 2021, it cost the country $29.3 billion, according to a State Bank of Pakistan report on climate change’s economic impact. The 2022 monsoon floods alone cost at least $28 billion. By 2050, Pakistan stands to lose up to 6.5 per cent of its GDP, with agriculture and industry bearing the brunt. Both the SBP and experts agree the country is unprepared unless it climate-proofs its fiscal plans. The approach, they stress, must be rooted in science, putting people at the centre and promoting climate-smart development models. All the tools Ali Tauqeer Sheikh, an Islamabad-based climate expert and former climate change advisor at the Planning Commission, argues that while the government has all the tools at its disposal, it doesn’t seem interested in using them. The government formally notified Pakistan’s Handbook on Climate Risk Screening for Policy Planning in June 2024. Yet, in the financial year that followed, none of the around 57 approved projects underwent “necessary risk screening, in violation of the approved policy”, said Mr Sheikh, who helped develop the handbook. “The budget exercise every year is basically the dialogue of the deaf,” he said, describing the process as devoid of climate-smart proposals. Failing to climate-proof PSDP projects “increases the cost of climate action and makes populations more vulnerable”, he warned. Dr Fahad Saeed, who runs the Weather and Climate Services think tank in Islamabad, regrets that scientific evidence is missing from Pakistan’s climate policymaking. The government allocates funds for climate action before even deciding whether they will be spent on mitigation, adaptation, or loss and damage. Without a cost-benefit analysis rooted in evidence, “decisions are not embedded in science,” he said, calling for an audit of climate-earmarked budgetary allocations. Climate-tagging development Last year, the government touted the budget as “climate-focused” and introduced “climate budget tagging” under the RSF to classify climate-sensitive expenditures in line with the National Climate Change Policy. Ammara Aslam at the Policy Research Institute for Equitable Development said that while the associated conditionalities and mandatory climate screening are “present on paper, climate-proofing the budget would require a robust implementation framework”. Every department and sector, she argued, needs to transition “from broad, unallocated budgetary statements to funding specific, verifiable, climate-resilient infrastructure projects”. Dr Shafqat Munir, who leads the resilience programme at SDPI, called tagging “a good step” but insufficient in the current scenario. “IMF and World Bank programmes are helping to open the door, but they are not yet transforming Pakistan’s fiscal model.” The RSF, he noted, “is still too reform-heavy and financing-light. It can improve systems, but it cannot close Pakistan’s adaptation financing gap”. New pillar Dr Munir argued that climate change should be embedded as a standalone pillar in development planning, with new budget heads for adaptation, climate-risk financing, and anticipatory action. “Let’s move beyond budget tagging,” he said, calling for poverty-proof and climate-risk-sensitive allocations for 2026-27. His five-point priority agenda: protection of people, livelihoods, infrastructure, fiscal stability, and growth — in that order. Experts also urged the government to promote rather than tax green technologies. “Taxing green technologies does not do any service to Pakistan’s renewable energy goals,” said Ms Aslam, calling for existing and proposed duties on solar panels, battery storage, and related components to be scrapped. Mr Sheikh agreed, warning such measures could undermine Pakistan’s climate-smart policy direction entirely. Published in Dawn, June 5th, 2026
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