The impact of minimum wage on the level of employment and inflation in an economy

Dollars in a wallet - minimum wage

The Minimum Wages (MW) were practically executed at the start of the 19th century. According to the IMF working paper, currently, 90% of all countries and their governments have legalized the laws for MW within their economies. However, the fundamentals to define their roles in all countries varies i.e. in most of the Developed Countries (DCs) the MW is set on an hourly basis and in ‘under’ or ‘Less Developed Countries (LDCs)’ it is set on a monthly basis for all workers. The minimum wage is the lowest possible wage…

Pakistan Will Default if Subsidies are not abolished

Miniister of Finance Miftah Ismail

Minister of Finance Miftah Ismail on Monday warned, if the government does not put an end to the subsidies on petroleum, Pakistan will default. The finance minister also said that the International Monetary Fund (IMF) has insisted to put an end to the subsidies on petroleum products. Government of Pakistan in a attempt to bring economic stability and to resurge the mired multi-billion-dollar IMF program, had increased the price of petrol by a massive Rs.60 per liter last month. Minister of Finance Miftah Ismail Warning Miftah Ismail has also warned…

Pakistan Steals 4th spot from Indian in new ICC Rankings

ICC Ranking of Pakistan

ICC Ranking of Pakistan, Pakistan were at 5th place and had a rating of 102, before the West Indies series. After Pakistan completing a clean sweep over West Indies in Multan, have now snatched the fourth spot from India in new ICC ODI rankings. Pakistan were at 5th place in the rankings and had a rating of 102, before West Indies came to Pakistan to play ODI series. Now Babar Azam’s side managed to achieve a spectacular 3-0 clean sweep over the West Indies. A must needed series win which…