Courtesy:- Malik Muhammad Ashraf Informal economies are considered a barrier to inclusive growth and exclude a majority of people from accessing opportunities of productive growth in the economic realm, depriving them of entitlement at work because of their informal status. In comparison, workers engaged in formal, registered, tax-compliant businesses and units are legally covered for social protection. The undocumented economy or the informal economy also hinders proper economic planning for socio-economic development.
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Courtesy:- MALIK MUHAMMAD ASHRAF Pakistan and India have been involved in intractable discussions to resolve the dispute regarding construction of two hydro electric power plants namely Kishenganga and Ralte being built by the latter in violation of the provisions of the Indus Water Treaty. So in view of the stalemate on the issue Pakistan requested the World Bank which had brokered the accord and also assumed the role of guarantor of the Treaty, to establish a court of Arbitration to resolve the differences between the two countries. India simultaneously requested the World Bank for the appointment of a neutral expert. The World Bank initially agreed to set up both the Arbitration Court and the appointment of the neutral expert. However in response to the Indian objection on two parallel processes which it maintained was not legally tenable, the World Bank decided to announce a ‘pause’ and asking both the parties to resolve the issue through bilateral avenues. Giving the r
Courtesy:- Malik Muhammad Ashraf The existence of informal economies is a debilitating phenomenon wherever they thrive as they are considered barriers to inclusive growth and exclude the majority of people from accessing opportunities of productive growth in the economic realm and deprive them of entitlement at work because of their informal status. In comparison, the workers engaged in formal registered, tax compliant businesses and units are legally covered for social protection. The undocumented economy or the informal economy also hinders proper economic planning for socio-economic development. The growing influence of the informal economy, especially in developing countries, has created great concern and is a big challenge for political and economic managers.