Lahore School of Economics

Welcome to the Lahore School of Economics: Freshmen Starter Session 2026

2026-08-24T11:24:54.147+05:00

On Monday, 24 August 2026, the Lahore School of Economics warmly welcomed its newest batch of First Year students with a dedicated Freshmen Starter Session held in the ITC Auditorium.

The session, conducted by Ms Shamyla Chaudhry and Ms Ayesha Jamal, was thoughtfully designed to help incoming students become familiar with the university and confidently navigate their first year on campus. Javed Qureshi, S A J Shirazi and Husain Abdul Rehman also joined in welcoming the freshmen. They also introduced their respective departments, setting a supportive and inclusive tone for the day.

Students received essential information covering campus facilities and key locations; faculty members and academic departments; academic and administrative processes; the student portal and other relevant systems; university rules, regulations, and policies; important procedures and points of contact; as well as general guidance to help them settle smoothly into campus life. The new cohort received a comprehensive introduction to life at the Lahore School of Economics.

We extend our best wishes to the Class of 2030 as they begin this exciting new chapter. The Lahore School community looks forward to supporting every student on their academic journey and beyond.

Welcome, freshmen — we are glad you are here.

Lahore School 8th International Conference on Applied Development Economics

2026-08-21T09:36:21.422+05:00

Abstracts

Program

Also in the Express Tribune, Business Recorder, Dawn, Nation, and Dawn 2

Day - 2, Day - 3

Lahore School 8th International Conference on Applied Development Economics - Day - 2

2026-08-21T09:32:07.355+05:00

Lahore School 8th International Conference on Applied Development Economics - Day - 3

2026-08-19T10:51:40.112+05:00

'Stabilisation policies driving poverty'

2026-08-18T08:58:00.000+05:00

Experts say weak exports, low investment, privatisation policies capping growth

Repeated economic stabilisation measures in Pakistan – including exchange-rate adjustments, privatisation and liberalisation – have substantially transformed the country's economy but have also contributed to rising poverty, said economic experts on Monday.

Speaking at the inauguration of the 8th International Conference on Applied Development Economics (ADE) in Lahore, Lahore School of Economics (LSE) Rector Dr Shahid Chaudhry stated that Pakistan's economic policies are deeply shaped by national development concerns that necessitate high government spending. He added that state-led healthcare and social protection efforts illustrate the complex challenges and opportunities in strengthening public welfare systems, making scholarly research platforms vital for finding sustainable, inclusive development pathways.

Addressing the structural weaknesses of the national economy, LSE Professor and Dean of the Economics Faculty Dr Azam Chaudhry highlighted that Pakistan's economic growth has increasingly reached a ceiling due to limited export performance. He noted that weak investment by local firms remains a central driver of this stagnation, driven primarily by information failures, credit constraints and coordination failures that hinder domestic businesses from expanding and competing in international markets.

The conference also presented empirical research on human capital, social reforms and migration as key components of development. University of Michigan Professor Dean Yang highlighted that remittances from international migrants serve as vital income insurance for vulnerable households during economic shocks, with non-migrant families frequently sending members abroad as a coping mechanism.

On domestic policy impacts, World Bank economist Kate Vyborny shared findings showing that digitising and centralising land records in Punjab increased women's inheritance of parental land from 13% to 22%. Additionally, researchers presented evidence that early-life exposure to Pakistan's 2010 floods caused long-term losses in children's health and cognitive development, while child marriage edutainment interventions and expanded access to local higher education significantly improved female enrolment, grade progression and long-term socio-economic outcomes.

The three-day conference, running from August 17 to 19, 2026, is organised by the Centre for Research in Economics and Business (CREB) and the Innovation and Technology Centre (ITC) at LSE, in collaboration with the International Growth Centre and the Consortium for Development Policy Research.

From the Express Tribune

Lahore School of Economics Faculty Honoured with Prestigious National Awards

2026-08-17T17:11:31.294+05:00

The Lahore School of Economics is proud to share the news that two of its distinguished faculty members have been conferred with high civilian awards by the Government of Pakistan in recognition of their outstanding contributions to academia, research, and public policy.

Dr. Rashid Amjad has been awarded the Sitara-i-Imtiaz. A former Vice Chancellor of the Pakistan Institute of Development Economics (PIDE) and currently Director of the Graduate Institute of Development Studies at the Lahore School of Economics, Dr. Amjad has made significant and lasting contributions to economic scholarship and policy discourse in Pakistan. His work continues to shape thinking on development issues at both national and institutional levels.

Dr. Sabiha Mansoor, former Vice Chancellor of Lahore College for Women University (LCWU) and currently a Professor at the Lahore School of Economics, has been conferred the Tamgha-e-Imtiaz. The award recognises her exceptional contributions to higher education, research, and policy, spanning leadership roles and sustained academic engagement.

These honours reflect the high calibre of scholarship and public service associated with the Lahore School of Economics. The entire community congratulates Dr. Rashid Amjad and Dr. Sabiha Mansoor on this well-deserved national recognition.

Independence Day Celebrations - 2026

2026-08-14T12:00:20.383+05:00

As per the Lahore School tradition, the Islamic Republic of Pakistan’s 79th Independence Day was celebrated on 14 August 2026 at the Lahore School of Economics Main Campus with national fervour and zeal.

Senior faculty, administrative staff, support staff, students, and their families gathered on the campus green, which a quick shower had washed. The dignified ceremony began inside the Amjad Chaudhry Library with a recitation from the Holy Quran.

Dr Shahid Amjad Chaudhry, Rector of the Lahore School of Economics, presided as the chief guest. A smartly attired contingent of security guards presented a salute as the Pakistan flag stood majestically and the national anthem resonated across the huge hall of the Library. Dr Azam Chaudhry, Pro-Rector and Dean of Economics, also attended the ceremony.

Addressing the gathering, the Rector reflected on the nation’s historic struggle for freedom, the sacrifices that made independence possible on 14 August 1947, and the progress achieved over the past 79 years.

Other highlights of the day included full participation by everyone present, milli naghmey, distribution of sweets, and an Azadi Lunch in the main cafeteria. Prize distribution for the winners of the Azadi Tournament added to the festive atmosphere of Jashn-e-Azadi.

The occasion was a poignant reminder of the country’s journey from colonial rule to sovereignty and a reaffirmation of the Lahore School’s role in nation-building.

Pakistan Zindabad, Lahore School Paindabad.

Essential Insights of Economics for Public Policy Formulation and Implementation in Pakistan

2026-08-13T09:05:32.214+05:00

Azam Amjad Chaudhry

Pro-Rector

Professor and Dean, Faculty of Economics

Lahore School of Economics

World Trade Organization (WTO) Chair for Pakistan

August 6th, 2026

Read the report (PDF)

Some useful information

• My contact information if you have any questions, comments or suggestions:

Email: Azam@lahoreschool.edu.pk

• A very useful source of information is the Lahore Journal of Economics which has a Special Edition that covers many of these topics:

http://www.lahoreschoolofeconomics.edu.pk/EconomicsJournal/LJEIntro.aspx

• Another useful source is our book entitled ‘Policy Challenges for Macroeconomic Management and Growth in Pakistan’ — you are receiving copies of our new books today; I hope they serve as a lasting extension of this discussion.

Global Energy Price Shock Weighs Heavily on Pakistan’s Economy, Lahore School of Economics Report

2026-06-30T09:22:46.312+05:00

Hassan Abbas

Pakistan’s economy is facing mounting pressure from a prolonged global energy price shock that has slowed economic growth, accelerated inflation, widened external imbalances, and increased poverty, according to a new quarterly report released by the Modelling Lab of the Innovation and Technology Centre at the Lahore School of Economics.

The report, covering the fourth quarter of FY2025-26, was prepared by Dr. Moazam Mahmood, Professor of Economics; Dr. Azam Amjad Chaudhry, Dean of the Faculty of Economics; Amna Noor Fatima, Manager and Data Analyst at the Modelling Lab; and data analysts Anodha Liaquat and Syeda Khadeeja Batool.

Pakistan, which imports nearly 500,000 barrels of oil per day, has been severely impacted by international crude prices remaining US$25-30 per barrel above their long-term average over the past three months. The report notes that the higher energy costs have affected virtually every major macroeconomic indicator.

Independent economists now estimate Pakistan’s GDP growth for FY2025-26 at 3.1%, significantly below the government’s target of 3.7%. Earlier forecasts by the IMF and the Asian Development Bank projected growth at 3.6% and 3.5%, respectively, before the full impact of the global energy shock became evident. Analysts warn that once complete fiscal-year data is incorporated, economic growth could slow further to 2.8%.

With Pakistan’s annual oil import bill already standing at approximately US$13 billion, elevated oil prices for just one quarter are estimated to add nearly US$1 billion to the country’s import costs.

The report highlights increasing pressure on Pakistan’s external accounts. Monthly exports average around US$3.5 billion, while imports remain close to US$7 billion, pushing the current account back into deficit. Imports surged to US$7.6 billion in April, a trend expected to continue through the end of the fiscal year. Although overseas remittances remain an important source of foreign exchange, the report emphasizes that they cannot compensate for the country’s structural economic weaknesses.

The authors argue that Pakistan’s most pressing economic challenge is no longer simply boosting growth, but reducing its dependence on imported energy. They stress that accelerating energy substitution through domestic and renewable energy sources is essential for achieving sustainable economic growth.

Despite the challenges, the report identifies encouraging developments in several sectors.

Agriculture has shown a strong recovery following the government’s decision to restore the wheat support price in 2026, reversing the negative impact of abandoning the long-standing price support mechanism over the previous two years.

Large-scale manufacturing has also rebounded after two difficult years. Following stagnation in FY2023-24 and contraction in FY2024-25, the sector recorded 6% growth during the second and third quarters of FY2025-26, largely driven by the automotive industry. However, analysts caution that broader industrial recovery has yet to take hold.

Similarly, the services sector improved, expanding by 3.7% after recording near-zero growth in FY2023-24 and only 1.4% growth the following year.

The energy shock has also intensified inflationary pressures. The report estimates average inflation for FY2025-26 at approximately 9%, substantially above the IMF’s April forecast of 7.2% and the government’s projection of below 6%.

Energy prices have risen sharply over the past year. Petrol prices increased by 54%, kerosene by 85%, high-speed diesel by 53%, electricity tariffs by 25%, coal prices by 8%, and natural gas prices by an unprecedented 126%.

According to the report, these increases translated into an average consumer energy price rise of 8.9%, contributing approximately 4.6 percentage points to overall inflation.

The study further notes that consumers have been affected by both rising international energy prices and higher domestic taxation. More than one-third of the increase in energy prices resulted from supplier price adjustments, while nearly two-thirds reflected higher government taxes, making fiscal policy responsible for roughly one-third of the overall inflation rate.

Nevertheless, the report acknowledges the government’s success in stabilizing the exchange rate and bringing down double-digit inflation. The researchers note that severe inflation during recent years was largely driven by sharp currency depreciation, including a 25% decline in FY2018-19 and a 40% depreciation in FY2022-23. By preventing further major depreciation over the past two years, the government has helped contain inflation despite elevated global energy prices.

The report concludes that exchange rate stability has delivered important economic benefits by reducing inflationary pressures and protecting household purchasing power.

However, one of the report’s most concerning findings relates to poverty. The Lahore School’s Modelling Lab estimates that extreme caloric poverty, which had fallen steadily for nearly two decades and reached 4.5% by FY2014-15, increased dramatically from 16.5% in FY2018-19 to 21.1% in FY2024-25.

Researchers attribute this reversal primarily to slower economic growth and high inflation caused by repeated currency depreciation in recent years.

While stabilizing inflation marks an important achievement, the report concludes that Pakistan’s greatest economic challenge remains restoring sustained GDP growth at levels capable of significantly reducing poverty and improving household welfare.

Lahore School of Economics Admissions 2026

2026-06-29T09:27:34.953+05:00

Details here

Economy struggling under weight of global energy shock: report

2026-06-29T09:25:04.266+05:00

By Hassan Abbas

Pakistan’s economy is struggling under the weight of a global energy shock that has dampened growth, stoked inflation, and strained the country’s external accounts, according to a quarterly report prepared by the Modelling Lab of the Innovation and Technology Centre at the Lahore School of Economics.

The report, covering the fourth quarter of FY 2025-26, was authored by Dr Moazam Mahmood, Professor of Economics; Dr Azam Amjad Chaudhry, Dean of the Faculty of Economics; Amna Noor Fatima, Manager and Data Analyst at the Modelling Lab; and data analysts Anodha Liaquat and Syeda Khadeeja Batool.

With Pakistan importing approximately 0.5 million barrels of oil per day, oil prices running USD 25 to USD 30 per barrel above their long-term trend over the past three months have reverberated across virtually every macroeconomic indicator.

Independent analysts now place GDP growth for FY 2025-26 at 3.1 percent, falling notably below the government’s own projection of 3.7 percent. The IMF and the Asian Development Bank had estimated growth at 3.6 percent and 3.5 percent, respectively, though both assessments were produced before the full weight of the energy shock became apparent. With Pakistan’s annual oil import bill standing at roughly USD 13 billion, even a single quarter of elevated prices adds an estimated 1 billion to that burden. Once data for the final two months of the fiscal year is fully incorporated, growth could slip further to 2.8 percent — a figure analysts describe as a force majeure outcome, but one that nevertheless demands honest acknowledgement.

The strain is equally visible in Pakistan’s external accounts. Exports average just USD 3.5 billion per month, while imports hover around USD 7 billion, pushing the current account into deficit. Import expenditure surged to USD 7.6 billion in April alone, and this deteriorating trend is expected to persist through the close of the fiscal year. Remittances, while significant, remain an exogenous variable and cannot offset structural pressures arising from within the economy itself.

The episode underscores that the most immediate threat to macroeconomic stability is not the pace of growth but the scale of energy imports, and that policy must urgently prioritise energy substitution if the economy is to grow on an affordable and sustainable basis.

Not all of the economic picture is bleak. Agriculture has staged a meaningful turnaround, largely as a result of the government correcting what analysts characterise as a self-inflicted policy error. For two consecutive years, authorities had abandoned a four-decade-old support price floor for the agricultural sector — a decision that led to a measurable drop in the aggregate value of crops and weighed directly on agricultural growth. The restoration of the wheat support price in 2026 has reversed this trend, and the outlook for the sector is considerably more positive.

Large-scale manufacturing has also shown signs of recovery after an extended period of stagnation and contraction. Having flatlined in FY 2023-24 and contracted in FY 2024-25, the sector registered growth of 6 percent in the second and third quarters of the current fiscal year, driven primarily by the automotive industry. Analysts caution, however, that a single sector’s revival does not confirm a broader industrial resurgence. Services growth similarly recovered to 3.7 percent after near-stagnation in FY 2023-24 and modest growth of only 1.4 percent the following year.

The energy shock has fed directly into consumer prices. Independent analysis places inflation for FY 2025-26 at approximately 9 percent, substantially higher than the IMF’s April 2026 estimate of 7.2 percent and the government’s own projection of just under 6 percent. The dominant driver is commodity prices, which alone account for 4.6 percentage points of the estimated inflation rate — roughly half of the total.

The consumer price of petrol rose 54 percent over the year from June 2025 to June 2026, while kerosene surged 85 percent, high-speed diesel climbed 53 percent, electricity increased 25 percent, coal rose 8 percent, and natural gas registered a staggering increase of 126 percent. Weighted by their respective shares in the energy consumption mix, these price rises translate into a weighted-average increase of 8.9 percent for consumers across the fiscal year — contributing 4.6 percentage points to overall inflation.

Consumers have effectively been hit twice over. Of the 8.9 percent rise in energy prices, just over one-third is attributable to increases by energy suppliers, while just under two-thirds reflects higher taxation imposed by the government itself. The government’s own fiscal decisions, therefore, account for roughly one-third of the total inflation rate.

For all the current difficulties, the government warrants recognition for bringing double-digit inflation under control. Rampant price pressures that prevailed from around the turn of the decade through FY 2023-24 were driven substantially by currency depreciation — a 25 percent fall in FY 2018-19 and a further 40 percent collapse in FY 2022-23. The government has since halted this pattern of major depreciation over the past two years, a considerable achievement given the ongoing pressure from global energy prices. Stabilising the exchange rate reflects an understanding of the devastating downstream consequences that currency weakness imposes on growth, inflation, and household welfare.

Perhaps the most sobering finding concerns poverty. The Lahore School’s Modelling Lab estimates that extreme caloric poverty, which had declined consihstently from FY 2000-01 and stood at just 4.5 percent between FY 2014-15, rose from 16.5 percent in FY 2018-19 to 21.1 percent by FY 2024-25 — an increase of nearly five percentage points in five years and a reversal of almost two decades of progress. This deterioration is directly attributable to slowing GDP growth, which fell from a trend rate of 4 percent to around 3.2 percent after 2018, compounded by the inflation spike triggered by successive waves of currency depreciation.

The government’s success in curbing depreciation and, by extension, inflation is therefore not merely a macroeconomic achievement — it carries direct implications for household welfare and poverty outcomes. Analysts are clear, however, that stabilising inflation is only part of the challenge. Reviving GDP growth to levels sufficient to meaningfully reduce poverty remains the defining economic task ahead.

Growth dips to 3.1% on energy shock

2026-06-27T13:25:40.431+05:00

Poverty rises to 21.1% as energy costs fuel inflation, warns Lahore School of Economics report

Shahram Haq

Pakistan's economic growth stands at 3.1% this fiscal year, but a brutal global energy shock is threatening to drag that figure down further, with millions of the country's poorest citizens already paying the price.

That is the central finding of the Lahore School of Economics' latest quarterly assessment for Financial Year 2025-26, released by its Modelling Lab. The report, authored by economists Dr Moazam Mahmood and Dr Azam Amjad Chaudhry, paints a sobering picture of an economy caught between fragile recovery and external pressure it cannot control.

The Modelling Lab's 3.1% GDP growth estimate sits below the government's projection of 3.7%, and also undershoots the International Monetary Fund's (IMF) 3.6% and the Asian Development Bank's (ADB) 3.5%, both of which were made before the full weight of the energy shock had set in. The World Bank's comparable estimate of 3.0% is closest to the Lahore School's number. More worryingly, the report warns that once complete data for the final months of the fiscal year comes in, growth could be revised down further to 2.8%, what the economists call a 'force majeure' growth rate.

The culprit is oil. Pakistan imports half a million barrels a day, spending around $13 billion annually on oil imports alone. In recent months, global oil prices have been running $25 to $30 per barrel above their long-term trend. A single quarter of elevated prices adds approximately $1 billion to the country's import bill. The effect has rippled through the current account, pushing it back into deficit. Imports hit $7.6 billion in April alone, while exports barely average $3.5 billion per month. The report is blunt: "The economy cannot grow without affordable energy."

On inflation, the picture is equally uncomfortable. The Lahore School estimates inflation for FY2025-26 at 9%, up from 8% last year and well above the government's estimate of just under 6%. Energy prices are the primary driver. Between June 2025 and June 2026, petrol prices rose 54%, kerosene by 85%, high-speed diesel by 53%, electricity by 25%, and natural gas by a staggering 126%. Together, the report calculates these energy price increases have contributed 4.6 percentage points to the overall inflation rate, roughly half of the total. Adding a layer of concern, the report finds that about two-thirds of the increase in consumer energy prices came not from supplier costs but from government taxation, making the state directly responsible for roughly one-third of the inflation rate.

There are some bright spots. Agricultural growth is approaching 3% after two difficult years, partly because the government reinstated the wheat support price, a policy it had abandoned to damaging effect. Large-scale manufacturing has also shown an unexpected surge, reaching 6% growth in recent quarters, driven largely by the automotive sector. Services growth has climbed to 3.7%. But the report is careful not to over-read these trends, noting: "One swallow does not a summer make."

The most alarming section of the report deals with poverty. Data from household surveys shows that extreme caloric poverty, measured against the World Bank's threshold, rose from 16.5% in FY2018-19 to 21.1% by FY2024-25 – a five percentage point jump in five years, reversing nearly two decades of progress. The report links this directly to low GDP growth and high inflation, themselves products of two major currency depreciations: 25% in 2018-19 and 40% in 2022-23.

The report credits the current government for reining in that depreciation cycle and for bringing double-digit inflation down from its peak. Managing the exchange rate under global commodity pressure, the economists acknowledge, has been no small feat. But the credit comes with a clear challenge: stabilising the rupee is necessary but not sufficient. With 21% of Pakistanis unable to meet basic caloric needs, the government must now urgently turn its attention to reviving growth, not just defending it.

State of the Pakistan Economy, Growth, Inflation and Welfare in Pakistan

2026-06-25T15:15:47.900+05:00

Financial Year 2025-2026 (Q4)

Lahore School of Economics

Dr. Moazam Mahmood, Professor, Faculty of Economics

Dr. Azam Amjad Chaudhry, Professor & Dean, Faculty of Economics

Amna Noor Fatima, Manager, Data Analyst, Modeling Lab

Anoosha Liaqat, Data Analyst, Modeling Lab

Syeda Khadijah Batool, Data Analyst, Modeling Lab

Read here

Policy risks eat into export revenue

2026-06-16T09:29:08.103+05:00

Shielding exporters from year-to-year tax changes can help stave off losses

Sharam Haq

Pakistan is losing hundreds of millions of dollars in export revenue every month, not because of foreign tariff wars or global trade conflicts, but because of the uncertainty generated by its own policymaking machinery, according to a new study released by economists Azam Chaudhry and Gul Andaman of the Lahore School of Economics (LSE).

The headline finding is striking. When the United States and China fought a bruising tariff war in 2018 and 2019, an episode that reshuffled global supply chains and rattled exporters worldwide, Pakistan's trade policy uncertainty index peaked at 185, against a baseline of 100. But Pakistan's own Finance Act of 2024, a routine annual budget law, pushed that same index to 348, nearly twice the level recorded during the biggest trade conflict in a generation. By 2025, the index had reached three and a half times its historical mean.

The study, which constructs the first-ever trade policy uncertainty index for Pakistan using archives of four major English-language newspapers over 2013 to 2026, calls this the central puzzle it sets out to explain. The cost is quantified in precise terms. A shock the size of the US-China trade war costs Pakistan roughly 10% of its monthly goods exports on impact, and about a quarter of monthly exports at the worst point, which arrives eight months after the spike in uncertainty.

At the sample average of $2.2 billion in monthly exports, that immediate hit translates into around $230 million in lost shipments from a single uncertainty episode. The Finance Act 2024 shock was twice that size, implying losses potentially approaching half a billion dollars a month at the trough. The impact elasticity of exports with respect to trade policy uncertainty is measured at minus 0.16, deepening to minus 0.41 at the eight-month trough before a partial recovery by 12 months.

The mechanism the researchers identify is not what standard economic theory would predict. The dominant view in trade economics holds that uncertainty should hit differentiated manufactured goods hardest, because exporting those products requires costly, relationship-specific investments that firms defer when the future looks unstable. Pakistan's data, drawn from 5.3 million product-level bilateral trade observations across 4,954 products and 228 destinations over 193 consecutive months, tells a different story.

Exporters do not abandon products or markets when uncertainty rises. They do not stop shipping garments or leather goods or home textiles to existing buyers. What falls is the volume of orders flowing through those relationships – exporters ship fewer kilogrammes at unchanged prices and delay buying the machinery that will expand their capacity.

Capital goods imports, the study's proxy for equipment investment, fall by nearly half in the months following an uncertainty shock, an elasticity of minus 0.46, roughly three times larger than the drop in exports, and timed one month ahead of the export trough at seven months. Vehicles, the most deferrable capital purchase, show an elasticity of minus 0.50, while electrical machinery falls by minus 0.22. Firms waiting to see how the policy will settle defer the purchase of machines before they defer shipments.

Services exports suffer differently and more lastingly. Software, IT, and other services exports show no immediate reaction to uncertainty but once they fall, roughly three months after a shock, they do not recover within the year studied. The 12-month elasticity for services sits at minus 0.36, equal to the trough value, at a point where goods exports have already partially rebounded to minus 0.16. For a country increasingly staking its growth strategy on services-led export expansion, the study warns these are the most durable losses it documents.

The study also documents what Pakistan failed to capture during the US-China trade war. Countries like Vietnam, Mexico, and Bangladesh absorbed large volumes of US import demand that shifted away from Chinese suppliers. Pakistan, despite having deep textile relationships with American buyers, captured essentially none of that windfall in the broader economy.

The one exception was textiles, where the US textile export differential jumped to plus 0.335 in 2019 on the timing of List-4 tariffs hitting Chinese apparel, and re-emerged at plus 0.258 and plus 0.212 in 2024 and 2025, suggesting some of that reallocation hardened into durable supplier relationships. But outside textiles, no new ground was taken, because in the very window when global trade was being reshuffled, domestic policy uncertainty was suppressing the capital investment needed to compete in new product lines.

The source of this chronic uncertainty is structural. The Federal Board of Revenue issues hundreds of Statutory Regulatory Orders each year, over 300 in 2024 alone, changing tariffs, duties, and customs procedures by executive notification with immediate effect and no parliamentary process. The annual Finance Act rewrites the trade tax structure each June after months of speculation. The IMF programme negotiations, which have covered most of the sample period across multiple arrangements, periodically place the entire trade tax regime on the table. Each of these layers generates the news coverage that feeds the uncertainty index, and each is visible in export data as a quantified loss.

The researchers conclude that policy stability is itself an instrument of export competitiveness, not merely an administrative virtue. Consolidating SRO authority, pre-announcing trade measures before budget, and shielding exporters' tax treatment from year-to-year legislative changes would each remove a documented and measurable source of export loss that no amount of market access negotiation can offset while the home policy environment remains volatile.

Related: Export revenue under pressure from policy risks, Pakistan Tooday

Federal Budget

2026-06-11T15:20:04.557+05:00

Pakistan Economic Survey 2025-26

Federal Budget 2026-27

Australian High Commissioner to Pakistan Visits Lahore School of Economics

2026-06-05T15:35:00.000+05:00

On June 4, 2026, Lahore School of Economics welcomed the Australian High Commissioner to Pakistan, His Excellency Mr. Timothy Kane, accompanied by Mr. Azhar Shah, Director Trade and Education at Austrade; Mr. Jaeger Konidaris, Political Secretary (Economic); Mr. Fahad Naveed and Ms. Rumla Tahir, Official’s from Macquarie University.

During their visit, the delegation met with Dr. Shahid Amjad Chaudhry, Rector, Lahore School of Economics; Dr. Azam Chaudhry, Pro-Rector and Dean, Faculty of Economics; and Dr. Sohail Zafar, Dean, Faculty of Business Administration. The delegation also interacted with students participating in Macquarie University’s Study Tour and Study Abroad programs.

Discussions focused on strengthening academic collaboration, student mobility, and research partnerships, reflecting the strong and growing relationship between Lahore School of Economics and Macquarie University.

Lahore School Summer School

2026-05-21T16:18:00.000+05:00

Lahore School of Economics Summer Program 2026, starting 15 June 2026, with high-demand courses like AI-Powered SaaS Creation, Digital Media Marketing, Python, Power BI, Microsoft Excel. Register now: placements@lahoreschool.edu.pk

Challenges and Possibilities for Environmental Sustainability in Pakistan

2026-05-12T16:14:00.000+05:00

Lahore Journal of Economics

2026-05-08T11:13:00.000+05:00

Lahore Journal of Economics (LJE) Volume 30, No. 2 (July–December 2025) is now available online. The issue comprises the following articles:

Political Dynasties and Service Delivery: Evidence from Rural Health Clinics in Punjab, Pakistan, Faiz Ur Rehman and Noman Ahmad

Evaluating the Impact of Withdrawal of Telegraphic Transfer (TT) Charges Reimbursement on the Remittances from the Kingdom of Saudi Arabia (KSA), Muhammad Omer

Financial Development and CO₂ Emissions: A Global Analysis and Continent-level Comparisons of Institutional Quality’s Mediating Role, Ayesha Rehman, Muhammad Tariq Majeed, and Tania Luni

The Economic Impact of Environmental Sustainability Practices in the Hospitality Sector: A Global Review with Policy Implications for Pakistan, Kashaf Waseem

Measuring Availability of Resources: A Case Study of Selected CPI Items in Pakistan, Nimra Hamayun, Hafiz Rizwan Ahmad, and Muhammad Munawar

Access the LJE here: https://lje.org.pk/currentIssues

Industrial Marketing

2026-05-08T11:12:00.000+05:00

On 7 May 2026, Lahore School organized a guest speaker session for the undergraduate students enrolled in the Industrial Marketing course. The session was delivered by Mr. Khurram Shahzad, the President and Group Chief Operating Officer of JW Retail. He shared valuable insights into the evolving nature of industrial marketing, strategic sales, and corporate leadership. Mr. Shahzad maintained an engaging dialogue with students on career progression and the realities of corporate life.

Supply Chain Management

2026-05-07T11:07:00.003+05:00

On 6 May 2026, Lahore School of Economics hosted a guest lecture for the undergraduate students enrolled in the Supply Chain Management course. The session was delivered by Mr. Abdul Rehman Butt, Head of Supply Chain at Fauji Foods, who brought extensive industry expertise and practical insight into the evolving dynamics of modern global supply chains. Through an engaging and interactive discussion, he introduced students to the strategic importance of intermediaries and the growing need for resilience and collaboration across supply networks.

Managing Business in Pakistan

2026-05-06T10:23:00.006+05:00

The Lahore School of Economics hosted its Eighth Annual Business Research Conference on “Managing Business in Pakistan: Resilience and Transformation” on 6th and 7th May 2026 at the Amjad Chaudhry Library, Main Campus. The two-day conference brought together academics, researchers, policymakers, and practitioners to discuss emerging challenges and opportunities facing businesses in Pakistan, with a particular focus on sustainability, digital transformation, finance, organizational change, and innovation.

The conference commenced with the recitation of the Holy Quran followed by the opening address by Dr. Shahid Amjad Chaudhry, Rector of the Lahore School of Economics. Dr. Chaudhry highlighted the importance of resilience and transformation in Pakistan’s business environment amid global uncertainty, technological disruption, climate concerns, and changing economic realities. He emphasized the role of academic research in informing policy and guiding businesses toward sustainable and inclusive growth.

The first session on Day One focused on Sustainability and Green Finance and was chaired by Sohail Zafar, Dean, Faculty of Business at the Lahore School of Economics. Researchers explored themes related to sustainability reporting, Islamic finance, corruption, and green economic transformation. Dr. Arshad Hasan from the Lahore School of Economics examined the relationship between sustainability reporting, managerial ownership, and investor confidence. He highlighted how sustainability reporting affects investor confidence in Pakistan’s emerging market. Then, Dr. Farhan Ahmed from NED University discussed institutional and regulatory readiness for a Riba-free Pakistan by 2027. Dr. Jamshed Uppal from the Catholic University of America examined the economic impact of corruption on growth and investment, highlighting how different forms of corruption affect business sustainability and economic performance in Pakistan. Presenters emphasized the need for stronger regulatory frameworks, institutional preparedness, and financial innovation to support sustainable development goals.

The second session on Day One addressed FinTech and ESG Reporting and was chaired by Professor Nayyar Zaidi from the Lahore School of Economics. The session explored the transformative role of financial technology in Pakistan’s economy. Dr. Syed Taqi Zaidi from the University of Leicester discussed the role of FinTech in promoting financial inclusion. He analysed how neo-banks and challenger banks promote financial inclusion in Pakistan under structural banking constraints. Dr. Usama Arshad from FAST-NUCES Islamabad examined blockchain technologies and digital resilience in Pakistan’s financial sector. The discussions highlighted the increasing significance of technological innovation, transparency, and governance in shaping the future of finance and business management.

Day Two of the conference began with a session on Managing Talent and Organizational Change, chaired by Professor Shehla Arifeen from the Lahore School of Economics. The session examined organizational learning, workplace wellbeing, green human resource management, and sustainability challenges. Dr. Sohail Mahmood Khan from Ulster University explored the role of Critical Realism in relationship marketing within Pakistan’s pharmaceutical sector. The study highlighted how trust, reciprocity, and contextual factors shape long-term buyer-seller relationships and business decision-making in complex environments. Dr. Sophia Ali from the Lahore School of Economics explored responsible AI adoption in human resource management and the role of organizational learning in adapting to technological change. Participants emphasized the growing need for organizations to adopt people-centered and environmentally responsible management practices.

The final session of the conference focused on Branding and Digital Transformation and was chaired by Fareed A. Fareedy from the Lahore School of Economics. The session explored emerging trends in digital branding, consumer behavior, regulation, and smart business management. Dr. Khalid Mirza discussed the importance of regulation and competition enforcement in economic development. Other papers addressed strategic frameworks for smart green business management in the electricity sector, the effects of CSR advertising in Pakistan’s FMCG industry, and digital customer loyalty from a behavioral perspective. The discussions reflected the increasing importance of digital transformation and innovation in shaping contemporary business strategy.

The conference concluded with closing remarks by Dr. Shahid Amjad Chaudhry, who thanked the participants, faculty, researchers, students, and organizers for contributing to the success of the conference. He noted that the conference successfully provided a platform for meaningful academic dialogue on the future of business in Pakistan and highlighted the importance of resilience, sustainability, and technological adaptation in navigating emerging economic and organizational challenges.

On X: Day 1, Day 2

In Business Recorder, Pakistan Today

Low-skilled workers dominate Pakistan’s migration as remittances surge: report

2026-05-06T09:10:00.005+05:00

Jawwad Rizvi

Nearly two-thirds of Pakistani labour migrants continue to fall into low-skilled or unskilled categories, with their combined share rising further in 2025.

The findings come from the Pakistan Migration Report 2025, released by the Lahore School of Economics on Tuesday at its Barki campus. The report provides a comprehensive snapshot of migration trends, remittance flows and emerging policy challenges, while underscoring the growing importance of overseas workers to Pakistan’s economic stability.

According to the report, outward migration from Pakistan has remained volatile in recent years. The number of migrant workers declined from 862,000 in 2023 to 725,672 in 2024, before recovering modestly to 762,499 in 2025. The report attributes this fluctuation largely to tightening visa regimes and shifting labour market policies in host countries, rather than domestic factors.

Migration patterns remain heavily concentrated in the Gulf region, which hosts around 92 per cent of registered Pakistani migrant workers. Saudi Arabia continues to be the leading destination, attracting nearly half of all migrants. Other Gulf countries also remain key employers, particularly for low- and semi-skilled labour.

However, the report notes a gradual but notable trend towards diversification. Increasing numbers of Pakistanis are seeking opportunities in non-Gulf destinations, including the United Kingdom, Canada and Australia, as well as emerging Asian economies.

Remittance inflows from these non-Gulf countries tend to be higher, suggesting the presence of relatively more skilled and better-paid workers. This may also point to underreporting in official migration data, particularly in developed economies.

Remittances, meanwhile, have surged significantly. The report records a 25 per cent increase in inflows, rising from $30.2 billion in 2023-24 to $38.3 billion in 2024-25. These inflows now account for 9.34 per cent of Pakistan’s GDP, underscoring their critical role in supporting household incomes and maintaining macroeconomic stability amid rising imports and stagnant exports.

Experts say the increase is driven by both higher migration levels and a gradual shift towards skilled workers. At the same time, persistent inflation at home has eroded household purchasing power, placing additional pressure on overseas Pakistanis to send more money to support their families. Despite these gains, the report highlights several structural concerns. Women remain significantly underrepresented in the migrant workforce, accounting for just 1.0 per cent of total migrants. Analysts attribute this gap to socio-cultural barriers, limited access to recruitment channels, and concerns over safety and working conditions abroad.

Irregular migration is another growing challenge. Pakistan continues to rank among the top nationalities attempting illegal entry into Europe. The report notes that 5,680 Pakistanis were apprehended at European borders in 2024, while 3,203 were recorded in the first half of 2025 alone — with nearly 90 per cent attempting entry via risky sea routes.

The rise in irregular migration is closely linked to tightening legal pathways. Stricter visa requirements, higher application costs, and reduced job opportunities in destination countries are pushing some migrants towards dangerous alternatives.

Speaking at the launch event, Mio Sato, chief of mission at the International Organisation for Migration in Pakistan, stressed the importance of promoting safe, orderly and regular migration channels. She emphasised that migration should be a choice, not a necessity, and called for stronger skills development programmes aligned with global labour market demands.

She also highlighted the need to raise awareness about the risks associated with irregular migration and to improve financial inclusion so that remittances can be used more productively at both household and national levels.

Rector of the Lahore School of Economics, Dr Shahid Amjad Chaudhry, described migration as a central pillar of Pakistan’s economic framework, noting the country’s reliance on external income to sustain consumption and ease pressure on the balance of payments.

Without targeted reforms in skills development, migration governance and labour market alignment, experts warn that Pakistan’s migration model will remain exposed to global shocks, even as it continues to underpin the country’s economic resilience.

Pakistan needs structured migration pathways

2026-05-06T08:12:00.011+05:00

Shahram Haq

Emphasising the need for safer and more structured migration pathways, the International Organisation for Migration (IOM) has urged Pakistan to prioritise regular migration channels, skill development, and financial inclusion to maximise economic benefits while reducing risks.

Speaking at the launch of the Pakistan Migration Report 2025 at the Lahore School of Economics, IOM Pakistan Chief of Mission Mio Sato said migration remains one of the most significant global development realities, particularly for Pakistan. She stressed that migration "should be a choice and not a necessity," underlining the importance of safe and dignified migration practices. Sato highlighted key policy priorities, including aligning skill development programmes with international labour market demands, raising awareness about migration risks and opportunities, and adopting evidence-based policymaking. She also pointed to gender disparities, noting that women account for a disproportionately low share of Pakistan's migrant workforce due to socio-cultural barriers, limited access to recruitment networks, and unsafe working conditions.

The report – fourth in a series published by the Centre on Migration, Remittances and Diaspora (CIMRAD) – was launched at the varsity's Burki campus, with Rector Shahid Amjad Chaudhry terming migration a critical area of study for Pakistan's economy, which relies heavily on external inflows and remittances.

According to the report, Pakistan's outward migration remains volatile. The number of migrants dropped from 862,000 in 2023 to 725,672 in 2024 before recovering slightly to 762,499 in 2025. The decline has been attributed mainly to stricter visa regimes and shifting policies in host countries.

The Gulf region continues to dominate as the primary destination, hosting 92% of registered Pakistani migrant workers, with Saudi Arabia alone accounting for nearly half of all migrants. However, remittances from non-Gulf countries remain comparatively higher, indicating either better wages or underreporting of migrant numbers. A major concern flagged in the report is the persistent dominance of low-skilled labour. Nearly two-thirds of Pakistani migrants fall in the low or unskilled category, with their share increasing further in 2025. At the same time, migration trends are gradually diversifying toward non-GCC countries, including the United Kingdom, Canada and Australia, as well as emerging Asian economies.

The report also draws attention to irregular migration, particularly toward Europe, where Pakistan ranks among the top 10 nationalities attempting illegal entry. Around 5,680 Pakistanis were apprehended at European borders in 2024, while 3,203 were recorded in the first half of 2025, with nearly 90% attempting entry via sea routes.

On the economic front, remittances posted a significant increase of 25%, rising from $30.2 billion in 2023-24 to $38.3 billion in 2024-25. These inflows now account for 9.34% of GDP, playing a critical role in stabilising Pakistan's external account amid rising imports and sluggish exports.

The surge in remittances has been attributed to increased migration and a gradual shift toward skilled workers, alongside inflationary pressures at home that have compelled overseas Pakistanis to send more money to support their families. However, the report cautions that tightening global migration policies, rising visa costs, and stricter labour market conditions are limiting opportunities for Pakistani workers. These constraints, it warns, are pushing more individuals toward irregular and often dangerous migration routes.

Pakistan Migration Report 2025

2026-05-05T09:25:00.014+05:00

The Centre on Migration, Remittances and Diaspora (CIMRAD) launched the Pakistan Migration Report 2025 on May 5, 2026, at the Lahore School of Economics. The report – the principal author of which was Professor Dr. Fareeha Zafar (Lahore School of Economics) – outlines recent migration trends, noting that outmigration decreased from 862,000 in 2023 to 725,672 in 2024, before recovering to 762,499 in 2025. Saudi Arabia remains the leading destination, with the Gulf hosting nearly 92% of migrants, while higher remittances from non-GCC countries signal a gradual shift toward skilled migration. Despite this, most migrants remain low or unskilled, and irregular migration to countries such as Canada, the UK, and Australia continues to pose risks. Remittances rose by 25% to $38.8 billion in 2024-25, reflecting both increased skilled migration and mounting financial pressures on households, while female participation remains minimal.

Proceedings of the ceremony opened with a welcome address by Dr. Shahid Amjad Chaudhry, Rector, Lahore School of Economics. He underscored the importance of studying migration as a critical issue for Pakistan, particularly given the country’s economic reliance on external engagement, including workers’ remittances.

Chief Guest Ms. Mio Sato – Chief of Mission, International Organization for Migration (IOM) – emphasized the need for safe migration pathways, stronger skill development, and inclusive, evidence-based policies, particularly to address barriers limiting women’s participation.

The main findings of the report were presented by Dr. Fareeha Zafar, which led to discussions on migration trends, remittance growth, and policy challenges. Director CIMRAD, Dr. Rashid Amjad, talked about the remittance inflows and their relationship with the macroeconomic environment. Dr. Nasra Shah, Professor of Demography at the Lahore School of Economics, acknowledged the extensive insights provided by the report, noting that the Pakistan Migration Report series by CIMRAD serve as a valuable knowledge base on migration in Pakistan.

At the launch, the Rector, Ms. Mio Sato, Dr. Fareeha Zafar and Dr. Nasra Shah addressed the gathering from the podium, while Dr. Rashid Amjad spoke from the front desk.

In Pakistan Today: IOM urges safe, skill-based migration as LSE launches ‘Migration Report 2025, Migrant outflow declines amid tighter visa restrictions: report, and in Dawn, Migrant outflow declines in recent years due to visa restrictions: report