Author: Amna S. Sandhu

Previous research on plagues and pandemics ranging from 14th century to the recent Spanish flu has established that pandemics greatly reshape how a society functions. As initially, the pandemic strains the health system, however, the stress becomes apparent in other parts of the society rather quickly. If we look at the Spanish flu, in addition to the inherent biology of the virus, it was also the state of the world at that time that made it so lethal. And many things changed profoundly in the wake of it as the crisis led a move to a revolution in public health,…

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At this point, it has become clear that the situation under COVID-19 is escalating quickly and the world will face profound health and socio-economic challenges in the upcoming quarter. No one yet knows what the ultimate economic cost of COVID-19 will be, but the consensus seems to be that it won’t be pretty. UNCTAD has warned of a slowdown in the global growth of around 2% which wipes almost $1 trillion off the value of the world economy. In the past, a big contraction in economic activity is followed by a bustling aftermath but not without the long-term negative effects.…

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The recent shift in the dynamics and competitive nature of microfinance industry has made many users especially females sceptical about the objectives and services provided by the institutes. However, given the client-centred nature of the industry, the management for microfinance institutions need to understand ways to connect with their customers more efficiently. One of the successful narrative approach based tools involved in connecting with the consumer through a human centric lens is called ‘trust circles’. The trust circle exercise involves putting the beneficiary at the centre and then having various bands around the beneficiary where each circle reflects the degree…

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Gender is crucial in banking since a typical microfinance client is a woman from a rural household. Detailed research on microfinance has discussed the claim that microfinance shows inclination towards female entrepreneurship and empowerment. However, there has been very limited research on the gendered dynamics of employment in microfinance. Globally, microfinance is being seen as a potential tool to alleviate individuals out of poverty, however, microfinance institutions need strong human capital to play their part. As microfinance is a high-touch business that necessitates personal relationships. Therefore, making the frontline staff indispensable when it comes to identifying clients, verifying their information,…

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This year Pakistan ranked 108th jumping up from 136th position on the recent World Bank Index that rates Ease of Doing Business. This leap put Pakistan among top 10 countries that experienced the most improved business environment in the last year. Moreover, Pakistan ranked as the first country in South Asia that had largest change in rating on ease of doing business. This has been made possible by efforts introduced by the incumbent government to minimize various regulations that come under the traditional bureaucratic systems acting as barriers to registering, starting and running business activities. Under this Index, World Bank…

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‘By now we have travelled approximately 12 kilometres from the local branch of one of the Microfinance Institutions (MFIs) in the area of Kot Addu, Muzzaffargarh. Out of those 12, we were on the main road for about 8 kilometres, a dirt road for 3 kilometres and the last bit was a pathway in middle of a sugarcane field. The area is quiet and sparsely populated. The loan officer guides our car to one of the two houses located at one corner of the field. A guy comes running to greet the loan officer. He is smiling and boasts a…

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The current gender gap in financial inclusion is 27.6 percent in Pakistan, according to Global Findex 2017. Policymakers often prioritise closing the gender gap in account ownership as a tool to empower women. However, research has shown that a mere bank account in itself does not lead to empowerment unless it is followed by a compelling reason to use it. Fourth industrial revolution has brought many captivating opportunities, one of them aims to empower women through an informal variant of e-commerce. Global Consumer Insights Survey 2018 by PricewaterhouseCoopers estimated that one-tenth of worldwide sales were online. According to State Bank…

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The 2018 Economic Survey revealed that in Pakistan the percentage of people living below the poverty line has fallen over the decade but still stands worryingly at 24.3% in 2015-16. The adverse economic and social effects of poverty are well-researched and used as basis for many social welfare programs across the globe. This article specifically discusses the adverse impact of poverty on children education and how microfinance can help. It highlights the inter-generational vicious cycle that emerges from lack of education that translates into life-long struggles for individuals and their families. Ample fieldwork by rural support programs has established an…

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Have you ever been freaked out by the pop-up ads as they are exactly what you were talking about with your friend on a personal chat or something you browsed few days ago? These messages are no coincidence rather an effective combination of good marketing and Internet of Things. Advertising at its heart is about convincing people how much they need to buy the product or service being advertised. According to research, a single ad has roughly 15 seconds to hook the audience and to persuade them to buy the product or service being advertised. The sheer volume of advertising…

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Recently, Artificial Intelligence (AI) under Fourth Industrial Revolution is driving major paradigm shifts across all sectors and countries. This technology has seeped into our everyday lives, transforming how we live, work and entertain ourselves. This has led to a focus on the US and China, being key players, but not the only ones, in the AI race. This is because of the first comer advantage of AI technology. The premier for this technology will guide the rest of the narrative. There is no doubt on the power and generational impact of AI that will affect not only national economies but…

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The e-commerce market in Pakistan has now been around for nearly 18 years. Though, the e-commerce sector has focused mainly on consumer products, the State Bank of Pakistan (SBP) puts the size of the e-commerce market in Pakistan at Rs.99.3 billion in FY18 (FY17: Rs51.8 billion) with a year-on-year growth rate of 92%. This enormous market has recently attracted global e-commerce giants including Alibaba, which has acquired Daraz.pk; and Ant Financial that acquired a 45% stake in Telenor’s Tameer Microfinance Bank. Still there is huge untapped potential in e-commerce as only 0.34% of the retail market is online and is…

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Imagine a robotic lens zooming in on the wheat sprout. It captures images and sends them to an AI (Artificial Intelligence) platform that predicts precisely how long it will take for it to mature. The advantages of having information like when to plant, pick and pack and the quantity that will be in the market makes everyone’s job easier and the value chain more efficient. This is only one example of emerging role of AI in revolutionising agriculture. In this context, AI has the potential to help confront one of humanity’s biggest upcoming challenges of feeding extra 2 billion people…

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Government expenditure is a critical factor in the calculation of Gross Domestic Product (GDP) of any country. Hence, it is important to note how the upcoming budget for Pakistan will have an impact on the well-being of the overall society. Even if people do not know what GDP means or even stands for, they regard it as an important indicator. This status comes from a long and frequent use of GDP to measure and compare the economic state of any country, globally. It has almost been 80 years since the concept of GDP was introduced. GDP essentially indicates the society’s…

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The world is changing day by day, opening doors for the new ideas and innovations. One of the hottest topics that we come across nowadays is Digital Transformation. It is the amalgamation of digital technology into day to day activities of our lives, also known as internet of things. It is continuously transforming our lives and reforming the way how things were done, hence creating more value for the people. However, the true potential of digital technologies is not being leveraged across the countries uniformly. South Asian region lies on the lower end of global connectivity spectrum. If this region…

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In the past century, women have achieved remarkable success in social, political and economic circles, however, many barriers still exist for low-income women in developing world. A joint analysis by the World Bank and UN women found that poverty itself is sexist. They identified unexplained differences in how gender played a role in poverty as more than 5 million women as compared to men were living in extreme poverty globally, especially in South Asia and Sub Saharan Africa. Challenges that women face are complex and multi-dimensional. However, economic empowerment through financial inclusion has proved to be a cross cutting solution…

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A famous quote highlights sustainability by discussing the difference between giving a man a fish and teaching them how to fish. Recently, it has become a common conception that China is using its Belt and Road initiative to hawk all of the world’s fish supply at least for the foreseeable future. How true is this? In case of Pakistan, our Prime Minister Imran Khan’s trip to China in his early days has been regarded as a success in terms of Chinese aid to our current deficit. Particularly, the focus has been on the second phase of China-Pakistan Economic Corridor (CPEC)…

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Amidst the current political polarization and dysfunctional institutions, it is imperative for the private sector to step up and change the world for the better. Private sector has proved to be dynamic in nature and promote innovation and creativity. They have the ability to support activities with positive impact on society. And with the recent rise in small social enterprises, profit with purpose is becoming the new norm. CEO’s of the future want their companies to be acknowledged as forces for good. In 2018, the Edelman Trust Barometer shows that globally people had more trust in businesses as compared to…

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For centuries central bank has played an important role in formulating monetary policies and regulating the banking system of a country. It is responsible for maintaining financial sovereignty and economic stability and one of the important tools for this is currency. They are entrusted with the responsibility of regulating the supply and value of currency in that country considering general public welfare. It is the core of most of the socio-economic decisions. For hundreds of years, central bank has offered bank notes and coins to the public. With time and improvements in technology the currency has evolved from metal coins…

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Being in your 20’s and starting your career at this time of social and economic conditions, it feels like you are working too much, earning too little and still trying to find a work-life balance. Just so you know, we all feel the same way. But I have realized that financial success doesn’t have to be something drastic, you can start small but be consistent. It’s not the one-day trade off that matters but it’s the accumulation. Time to move past the traditional financial advice and choosing small habitual changes that should help us utilize the amount that is left…

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Currently, in the world there are 12.5 billion internet connected devices such as smartwatches, security surveillance systems and smart home appliances, this has already surpassed the number of human beings on the planet that is 7.53 billion people. This market is rapidly growing as at least 26 billion of internet connected devices are projected to be in use globally by 2020. These devices are used by consumers in their daily life, thus, the term Internet of Things (IoT). The beauty of IoT is that even small device like a smartwatch is actually connected to much larger systems and networks. They…

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The internet is celebrating its 30th birthday this month. Currently, half the world is online and we should take this moment to celebrate how far the internet has developed and also as an opportunity to reflect how far it has yet to go. The relationship between people and internet has significantly evolved in the past three decades. It has become a public square acting as a library, doctors office, bank, retail outlet, workshop and so much more. Globally, every day our interaction with internet produces enormous amounts of data, for example Google processes over 40,000 searches every second, almost 1.4 billion people are active on Facebook every…

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It’s only early spring but the adverts are already filled with upcoming branded lawn prints that are dime a dozen. No doubt these vibrant colourful prints are irresistible. But, before you deep dive into multiple volumes of lawn prints this spring/summer, spare a thought about the impact of this fast fashion on our environment. A recent survey by Pew Research Centre, identified Climate Change as the biggest international threat. But when we think of climate change and pollution, the mind wanders to power plants, mining, plastic dumps and burning forests etc. However, fashion industry has started to play an enormous…

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Currently, only about 21% of Pakistan’s adult population has formal access to financial services whereas, 34% of Pakistan’s population uses a smartphone with a broadband connection and this number is expected to grow significantly due to increasing availability of inexpensive smartphones and internet services in near future. This discrepancy provides an opportunity to accelerate financial growth without the need for major investment in costly additional infrastructure. A recent study revealed that there are 27.3 million mobile wallet users in Pakistan with 87% year on year increase. Google, in a study, projected Pakistan as quickly becoming a digital-first country expectedly the…

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