One of Pakistan pre-eminent economists and the founder of BISP, Dr. Kaiser Bengali, joins us on The Pakistan Experience to break down Pakistan's political economy and what stops economic reform in Pakistan.   On this deep dive podcast, we discuss IMF, the current crisis, the defence budget, Bhutto's nationalization, Zia-ul-Haq, economic reform and protectionism.  Do we have any options but to go to the IMF?  Is IMF evil?  Who stops economic reform in Pakistan?  What will fix our economy's structural flaws?   Find out this and more on this week's episode of The Pakistan Experience.     Kaiser Bengali is an economist with over 40 years of experience in teaching, research and policy advice in Pakistan and abroad. He has a master’s in economics from Boston University, USA, and a Ph.D. in Economics from the University of Karachi, Pakistan. He has taught and conducted research at prestigious institutions in Pakistan, such as the Applied Economics Research Centre (AERC), University of Karachi, Sustainable Development Policy Institute (SDPI), Islamabad, Shaheed Zulfikar Ali Bhutto Institute of Science & Technology (SZABIST), and was Managing Director of the Social Policy & Development Centre (SPDC), Karachi.     The Pakistan Experience is an independently produced podcast looking to tell stories about Pakistan through conversations. Please consider supporting us on Patreon: https://www.patreon.com/thepakistanexperience      And Please stay in touch: https://twitter.com/ThePakistanExp1 https://www.facebook.com/thepakistanexperience https://instagram.com/thepakistanexpeperience        The podcast is hosted by comedian and writer, Shehzad Ghias Shaikh. Shehzad is a Fulbright scholar with a Masters in Theatre from Brooklyn College. He is also one of the foremost Stand-up comedians in Pakistan and frequently writes for numerous publications.              Instagram.com/shehzadghiasshaikh Facebook.com/Shehzadghias/ Twitter.com/shehzad89         Chapters: 0:00 Introduction 2:00 Was IMF Pakistan's only option and lack of planning 5:45 What stops economic reform? 9:45 Ayub Khan and Bhutto's Development 11:30 Military Dictatorships and Political Economy 17:00 Bhutto's Nationalization 24:00 18th Amendment: Is the problem the Provinces or the Center? 28:30 Pakistan can't increase revenue in the short run 32:30 Privatization 40:00 Is the IMF "neutral" and will Pakistan go bankrupt? 46:00 Foreign Ownership of Enterprises and Investment 49:00 Pakistan has a narrow base of economy and lack of Value Addition 54:00 What Kaiser Bengali did in the Government 59:30 Three Major Structural Flaws in our Economy 1:06:00 Unsustainable Growth and Elite lobbies 1:10:30 Government Intervention and Agriculture 1:15:30 Stock Market 1:18:00 Hyperinflation and Devaluation 1:22:00 Petrodollars trap and IMF's micromanagement 1:24:50 State Bank Autonomy 1:27:50 The people need to protest 1:32:50 Differences with Ishrat Hussain