Liberty Chowk

Pakistan has weathered the latest global shocks, but Sakib Sherani argues it can't sustain today's stability without private investment and exports.

In this episode of Liberty Chowk, Prime Institute's podcast, Sakib Sherani, CEO of Macro Economic Insights, discusses Pakistan's economic fragility amid recent conflicts involving the US, Russia, and the Middle East.

Key findings:

• Pakistan handled the recent global crisis well.
• In the years ahead, the country will continue to depend on IMF loans.
• The current economic stability is not sustainable.
• Stability becomes sustainable only when it attracts private investment, which leads to exports.
• On the fiscal side, the government failed to rationalize its expenses.

Sakib Sherani - CEO, Macro Economic Insights

Recently, there has been growing debate about new provinces in Pakistan. We invited Daniyal Aziz Choudhry to our podcast to discuss this pertinent topic, alongside the alternative solution of empowered local governments. Daniyal Aziz explained the history of East Pakistan as a province and how the current debate around new provinces continues to be treated as a political decision rather than a governance issue. He argued that, in the case of the FATA merger, contrary to present-day arguments, the government at the time supported the merger rather than creating a separate province. He further noted that only a few political parties, such as PTI, PML-N, and MQM, have included new provinces in their manifestos, and even then, not as a priority.

Farmers are not making a business out of agriculture - Dr. Muhammad Faisal AliIn our recent podcast, Dr. Muhammad Faisal Ali, Assistant Professor at the Pakistan Institute of Development Economics, explains that small farmers with land holdings of fewer than 5 acres constitute 70% of the farming population. These farmers practise subsistence farming without focusing on profitability, and unless profitability is prioritised, the agricultural sector will remain stagnant. The government, on the other hand, has been heavily involved in agriculture through support prices, leading to debt.Listen to the full podcast for further insights into the agriculture sector of Pakistan.

Shabbir Kazmi is an Economic Journalist, writing extensively on topics related to agriculture. In this recent podcast, we invited Shabbir Kazmi to discuss the wheat crisis, prices, and food security. Mr Kazmi favoured data-based supply chain management across different regions to manage food security effectively, further adding that Pakistan requires good governance. He also critically analysed the lack of storage facilities for perishable food commodities in detail.

Listen to the complete podcast for an in-depth analysis of the agriculture sector.

Dr. Manzoor Ahmad discussed Pakistan’s economic outlook, which may face serious challenges as tensions around the Strait of Hormuz continue to escalate. In this discussion, an expert highlights how instability in this critical global energy route could significantly affect Pakistan’s already fragile economic conditions.

The Strait of Hormuz is one of the world’s most important oil transit chokepoints, with a large share of global oil shipments passing through it every day. Any disruption in this region can lead to sharp increases in global oil prices, higher transportation costs, and uncertainty in energy markets. For a country like Pakistan, which relies heavily on imported fuel, such developments can put immense pressure on foreign exchange reserves, inflation levels, and the overall balance of payments.

The discussion examines how rising energy costs could affect Pakistan’s industrial sector, electricity tariffs, and economic growth. Businesses may struggle with higher production costs, while households could face increasing prices of fuel and essential goods. At a time when the country is already dealing with fiscal constraints and external debt obligations, geopolitical shocks in key trade routes may further complicate economic recovery efforts.

Experts also emphasize the importance of strategic planning, energy diversification, and stronger economic policies to reduce vulnerability to external shocks. As global tensions evolve, understanding the implications of the Hormuz crisis becomes essential for policymakers, businesses, and citizens alike.

It's been days, and the war in the Middle East has affected every economy. The Strait of Hormuz is one of the most important choke points in the global trade routes, holding 20-25% of the world's oil trade. We invite Dr. Nouman Mirza to discuss this growing crisis and its far-reaching consequences. The already crumbling economy of Pakistan is being affected by this recent global political crisis. The Iran-US-Israel conflict has disrupted global oil prices as supply decreases, insurance costs are rising, and global shipping charges are also on the rise.

We unpack what is happening on the ground, why the Strait matters so much to global energy markets, and how rising tensions are affecting the movement of oil, cargo, and commercial vessels. The conversation also examines the knock-on effects on freight rates, maritime risk, insurance premiums, and supply chains, along with the broader implications for governments, businesses, and consumers.

A major focus of the discussion is Pakistan’s vulnerability in the face of such a shock. We explore what higher fuel costs, shipping disruptions, and regional instability could mean for Pakistan’s economy, inflation, trade balance, energy security, and policy choices in the weeks and months ahead.

This is an essential conversation for anyone trying to understand the economics of conflict, regional trade risk, and Pakistan’s strategic and economic exposure in a rapidly changing environment.

#StraitofHormuz #PakistanEconomy

In this latest podcast, Dr. Pervez Hoodbhoy discusses the history of Pakistan, the education sector, brain drain, science and technology, and other socio-political issues affecting the country.He explained the historic events that shaped today's Pakistan. The Fall of Dhaka was a huge failure for the state. Afterwards, the era under the dictatorship of Zia-ul-Haq, Pakistan experienced Islamization that led to the after-effects to date.

Policy Research Institute of Market Economy - PRIME is an economic think tank based in Islamabad, Pakistan, ranked top 100 in Asia-Pacific by the University of Pennsylvania.

Follow for more such intellectual podcasts.

In this episode of Liberty Chowk, Ali Ehsan sits down with Dr. Kaiser Bengali, an Independent Economist, to unpack Pakistan’s growing dependence on borrowing amid rising public debt, fiscal deficits, and slow industrial growth.

The conversation explores how excessive reliance on loans can crowd out private investment, weaken industrial productivity, and deepen structural economic challenges, from inflation and low exports to balance-of-payments pressures and policy uncertainty.

Drawing on Dr. Bengali’s long-standing critique of Pakistan’s debt-driven model, this episode examines whether borrowing is a short-term necessity or a dangerous long-term habit — and what reforms are needed to restore sustainable, productivity-led growth.