Author: Nazir Ahmed Shaikh

In the modern era the driving business is about global networking, identifying and developing business opportunities, generating solutions and taking calculated risks. It is also about how integrity, reliability and resilience are needed to handle pressure and continuous regulatory changes. Leading change is about navigating people in an unstable work environment, promoting and inspiring collaboration, empowering team members to embrace change and drive their self-development, being self-aware and be willing to move into the role of a humble facilitator. Companies need leaders who can thrive despite setbacks and adapt to new ways of working, new business models and new forms of…

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The UK left the EU on 31 January 2020 and is now in an 11-month transition period. On December 31, 2020 UK would ceased to member of EU. During this period the UK effectively remains in the EU’s customs union and single market and continues to obey EU rules. European Union (EU),  international organization comprising 27 European countries and governing common economic, social, and security policies. Originally confined to Western Europe, the EU undertook a robust expansion into central and Eastern Europe in the early 21st century. The treaty was designed to enhance European political and economic integration by creating…

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Education is considered to be vital source of nation-building. In order of ensure national cohesion, integration and preservation of the ideological foundation of the state, certain educational functions are the responsibilities include: curriculum, syllabus, planning, policy and educational standards. After 18th amendment education is being devolved to provincial mandate. Formation of National Curriculum Council (NCC) Besides capacity issues, working separately on Curriculum by provinces and areas not only created disconnect between the education and training of the children of nation but also affected quality and standards. For a nation to build itself, there was a need to adhere to a…

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The entire world is at a war against COVID-19 pandemic. Globally, the magnitude of the negative impact is so huge that some experts have indicated it’s going to be even worse than “The Great Depression” witnessed from August 1929 to March 1933. Global scenario As the fear of the global economy moving towards a recession grows, it is likely that there will be a liquidity crunch coupled with high inflationary pressures. The conditions accordingly are unlikely to improve till 2021, with an expected $2 trillion shortfall in global income and a $220 billion hit to developing countries (excluding China). In…

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As marketers consider how they may need to rethink their communications during the current coronavirus crisis, one suggestion from behavioral economics is that the framing can be more important than the messaging. Marketers can draw from behavioral science theories and how these can be applied to marketing strategies as new behaviors unlock new triggers. A key issue facing all marketers is whether they should continue their usual marketing activities in willful neglect of the situation. The typical positive approach may be shaking even though consumers are longing for normality, the depiction of an aspirational and jubilant lifestyle may be overshadowed…

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Both the number of confirmed infection cases and deaths caused by coronavirus disease COVID-19 are still growing rapidly across the world. As of Oct 10, 2020 the total infection cases stood at 36.8 million and total deaths at 1.07 million. The total recovered cases are 25.6 million. The USA is still suffering most, but the recent cases in India has increased remarkably. While some countries have shown a declining trend in both new cases and deaths, a second wave is expected. COVID-19 is expected to significantly affect the global society in various ways, from both short-term and long-term perspectives. The…

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Foreign direct investment (FDI) is now perceived in many developing countries as a key source of much needed capital, foreign advanced technology, and managerial skills. Realizing its importance to economic development, these developing countries have taken wide-ranging steps to liberalize their inward FDI regime and have succeeded in attracting substantial amount of FDI. Foreign direct investment refers to direct investment equity flows in the reporting economy. It is the sum of equity capital, reinvestment of earnings and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree…

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‘Money belongs to you, but resources belong to the society’. With growing awareness about corporate social responsibility (CSR) among stakeholders, achieving social goals is as important as delivering shareholder value and profitability. Corporate Social Responsibility or CSR is a concept that aims to make a company socially accountable to itself, its stakeholders, and the public at large. Through their CSR practices, companies are conscious of the kind of impact they have on all aspects of society including economic, social, and environmental. It is a way of giving back to the society for the various resources it uses to run its…

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As the COVID pandemic furies, the world is entering into the deepest global recession since the Great Depression during 1930. Since it emerged in December 2019, the virus has spread to every continent. It was declared a pandemic by the World Health Organization (WHO) on 11 March 2020. As of July 21, 2020, there were 14.69 million confirmed cases in 187 countries with 610,110 deaths. As countries work to stalk its spread with different strategies like lockdowns, testing, isolation, treating patients and mitigation measures; the virus’ high reproducibility and complex nature threatens to overwhelm health systems in both the developing…

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Economic growth and development depends on human capital as well as physical capital and also on the factors affecting productivity. Investments in these areas complement and reinforce each other. To be productive, a workforce needs physical capital, such as infrastructure, equipment and a stable well-governed economy. In turn, a healthy, educated workforce can earn more and invest more in an economy’s physical capital. The boundaries for skills is moving very swiftly hence bringing both opportunities and risks. There is mounting evidence that countries cannot achieve sustained and inclusive economic growth unless they strengthen their human capital. Moreover, they will not…

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The consequences of the COVID-19 pandemic for the global economy, and financial sector in particular, are still unpredictable. It has crippled economic activities, overturned supply chains and crumpled the demands for goods. The virus has forced both the consumers and the businesses to spend and invest less. The consensus amongst most economists is the slow downing and eventually downward revisions in GDP growth targets. Countries have introduced stimulus programs to sustain economies, relief corporates and individuals; and banks are at the core of instigating such measures. Borrowers and businesses face job losses, slowed sales, and declining profits as the virus…

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5G’s proliferation is unprecedented, leading to the amalgamation of ground-breaking technologies of this decade such as AI and edge computing. The inherent synergies of these technologies are not only pushing the performance of 5G for mission-critical services but also scaling down 5G NR with NR-Light to meet diverse use cases, while exploring the broader massive Internet of things (IoT) use cases. It has been estimated that by year 2022, the average consumer is expected to consume 11 GB of data per month, on their smartphone, against current usage of 2.3 GB of data per month. This is driven by explosive…

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Islam is more than a religion. It is also a code of life that deals with social, economic, and political matters. Every Muslim is expected to live according to the Islamic code, or Shariah. Each issue addressed under Shariah is entwined with all other issues; therefore, economic matters are related to religion, culture, ethics and politics. Overview Islamic finance is a financial system which operates in accordance with Shariah or Islamic law. The primary difference between Islamic and conventional finance is the treatment of risk. Shariah prohibits certain elements that are common in conventional finance, such as interest and speculation.…

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For last few weeks, the concept of herd immunity is making headlines in the international media with reference to COVID-19. Herd immunity is an epidemiological term usually reserved to describe how the population as a whole is protected from a disease depending on the levels of people vaccinated. What it is? Herd immunity (or community immunity) occurs when a high percentage of the community is immune to a disease (through vaccination and/or prior illness). So it is unlikely that disease will spread from person to person. The people not vaccinated (such as newborn and the immunocompromised) are offered some protection…

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The microfinance sector in Pakistan has made significant progress in the last few years. The sector has grown rapidly, it has changed its orientation to one which is moving towards sustainability and it is operating within a policy and regulatory environment which is supportive. While microfinance is advocated as a strategy for poverty alleviation, the lending methodologies and client screening systems exclude the poor from many programs. Some MFIs suffer from pangs of consciousness about charging high interest rates to poor clients and prefer not to charge any interest rate (for example Akhuwat) or keep their interest rates at levels…

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There are fundamental changes that happen from time to time; specially during times of war. But this time the enemy is a virus and not a foreign power. The COVID-19 pandemic has created a wartime atmosphere where sudden and unexpected changes seem possible. After many months of lockdowns, loss of life and the closing of global economy, the clouds of uncertainty are overcasting everything. Would the business houses reopen and the jobs come back? Would we be able to travel again? Would the supply of money from central banks and governments be enough to prevent a deep and lasting recession?…

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Introduction Microfinance services have emerged as an effective tool for financing micro-entrepreneurs to alleviate poverty. It is a tool to enable poor to start their own business to survive in the society. It refers to savings, insurance, loans, transfer services, microcredit and other financial products to customers who have low incomes. As these does not have any physical collateral and have a higher risk in return payments of the borrowing money, therefore they have only small credit in views of financial institutions and the amount of money that they can borrow is relatively small. Especially in developing countries, microcredit makes…

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Pakistan is 6th most populous country of world having a population of 219,652,490 people; which is 2.83% of the total world population. Pakistan covers an area of 881,913 km2 (340,509 sq. mi), approximately equal to the combined land areas of France and the United Kingdom. It is the 33rd-largest nation of the world by total area. Pakistan is one of those countries which have enormous rich natural resources. It is blessed with vast land, natural gas reserves, petroleum, extensive coal, iron ore, copper, salt, limestone and gold besides other natural resources, many of them hitherto undiscovered. In fact, according to one survey, Pakistan…

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The governments and central banks world over readied more emergency measures to tackle the economic impact after spreading coronavirus on Friday, helping financial markets pare some of their steep losses, while more major events were canceled or postponed. US president even declared national emergency and set $50 billion fund to tackle the contagious disease. Till date (Friday March 14) about 138,000 people are affected worldwide and over 5,000 died, according to available reports. Experts warn that due to a lack of testing and unreported cases, many more people may be affected by the outbreak that emerged in the Chinese city of Wuhan…

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The entire scenario of trade and commerce has been transformed in the last twenty years or so. The e-commerce industry is without a doubt the most lucrative business of the 21st century. It had long ago shifted from the reluctant offline experience to the easier and comfortable immersion. Here everything could be bought or sold just by clicking a button. The global e-retail is in constant growth since 2014. In 2017, e-retail commerce sales worldwide amounted to $2.3 trillion and e-retail revenues are projected to grow to $4.88 trillion in 2021 in 2018 e-commerce grew by 18 percent globally. Consumers…

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The Islamic banking and finance system offers more ethical and efficient alternative to the interest-based conventional financial system. Islamic banking and finance institutions emerged in the Middle Eastern financial markets in early 1970s, based on models developed by Islamic economists over the past decades. Many Muslim countries, including Pakistan, adopted these models and launched Islamic banking institutions. Some Western banks also launched Islamic banking and finance products to serve their Muslim customers. Islamic banking is defined as banking system which is in consonance with the spirit, ethos and value system of Islam and governed by the principles laid down by…

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Food wastage is the sum of food waste and food lost.It is an astonishing fact that every year around 36 million tons of food is being wasted in Pakistan. This includes food loss during production, post-harvest handling, agro-processing, distribution and consumption, every year. Due to extreme weather conditions in Pakistan, food loss is expected to be higher than computed by agricultural departments. Food waste is a very common features at wedding ceremonies. Marriage in Pakistan is an occasion where people spend very extravagantly. Even those hailing from the middle class consider it an opportunity to display their fortunes in the…

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Through 2018-19, the global auto industry was having vociferous recession in the sales and projections are painting similar decline in the current year. This protracted shrinkage would result into massive economic threats. Economists are optimistic that this would not last as long as it has. The auto sector represented 20 percent of 2018’s slowdown in GDP and roughly 30 percent of the slowdown in the global trade. Global sales of passenger cars are forecast to hit 77 million vehicles in 2019, down from a peak of 79 million in 2017. Reasons for declining Carmakers around the world are scuffling with…

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To become a Manager is a matter of intelligence, trustworthiness, humaneness, courage, and discipline. Interestingly business education engrossed on the quantitative or “hard” skills necessary to be an effective manager. However, the importance of technical skills for example accounting skills cannot be underestimated. Managers must learn what virtues are essential to excel. As both hard and soft skills are extremely important, so we have to understand the difference between “hard skills” and “soft skills”. Hard Skills or Technical Skills Most managers are familiar with hard skills and these are what the majority of managers looks for in a job candidates.…

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Knowledge has always been important for economic development. Globalization and technological revolutions transform the contemporary economy into the knowledge economy. In this economy, a new form of organizations and work govern the world of business, demanding the rapid development of skills, solid knowledge and greater responsibility. Contemporary society thus becomes a learning society, adapting to the new, and in this context educational systems must aim at the formation of people able to contribute to the development of their own competencies, to integrate fully in the socio-cultural context in which they live. There are certain numbers of factors which have contributed…

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At the conclusion of the Islamic summit in Malaysia, Prime Minister Mahathir Mohamad praised Iran and Qatar for withstanding economic embargoes and said it was important for the Muslim world to be self-reliant to face future threats. He said “With the world witnessing nations making unilateral decisions to impose such punitive measures, Malaysia and other nations must always bear in mind that it can be imposed against any of us”. Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions on them. Prime Minister Mahathir…

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The travel and tourism industry is an important part of the overall global economy and is particularly important in some developing nations, where it can help to reduce poverty. In 2018, the industry helped generate 10.4% of world GDP and a similar share of employment, and has shown enormous resilience over the last decade. Fueling this expansion and relative resilience is the ongoing growth of the middle-class in Asia and other parts of the world. In the coming decade, industry contribution to GDP is expected to rise by nearly 50%. In 2016 the travel and tourism industry have a global…

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The year 2019 is proving to be a very hard for global growth which is projected to slowdown to 3.3 percent in 2019 from 3.6 in 2018. Global trade during 2018 remained slow on account of decelerated export orders and global manufacturing activity, particularly in capital goods. Leading global institutions and agencies including IMF and World Bank are continuously downgrading their global growth projections. Developed and developing economies are finding it hard to stay on the upward trajectory of growth. Recession is silently cannibalizing the growth targets. Global output and investments are likely to be suppressed in 2019 due to…

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The importance of reading has been very much stressed in Islam. In fact, the first word of the Holy Quran that was revealed to Prophet Muhammad (PBUH) was ‘Iqra’, meaning to read or recite. Muslim history is filled with multi-volume libraries that formed an important part of literate Muslim cities. Reading as a means of learning is a part of global culture. Books play a fundamental role in nation-building and are a significant component in a person’s life. However, it seems as though the students in Pakistan are unaware and have become oblivious to the importance of books and reading.…

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Education has become a central element of the countries’ growth strategies including economic development. Improvements in education need to enable all children to have access to quality education without discrimination and to achieve the skills and knowledge they will need for effective social and labor market integration. Access, equity and quality of education are very important considerations while analyzing the effectiveness of an education system. For each of these important parameters, there are a number of indicators which can determine the level of access, equity and quality. According to the World Economic Forum’s Global Human Capital Report 2017 report, Pakistan…

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Prime Minister Imran Khan on Friday announced that Sikh pilgrims who arrive from India to visit Kartarpur will no longer need a passport to cross over into Pakistan as long as they have a valid identity. In a tweet on Friday morning, the premier also announced that he had directed that the condition for pilgrims to register 10 days before their arrival to the Kartarpur shrine also be waived. The initiative of developing the Kartarpur Corridor for Sikh community is a great goodwill gesture by the Government of Pakistan. However, Indian reservations regarding Pakistan’s motives are a clear proof that…

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Economic growth is the aspect to a nation’s progress and prosperity. Foreign direct investment (FDI) is generally considered as a key driver of global economic integration. Investment provides base to the economic development to the developing countries. Standard economic theory points to a direct, causal relationship between economic growth and FDI that can run in either direction. On the one hand, FDI flows can be induced by host country economic growth if the host country offers a sizeable consumer market, in which case FDI serves as a substitute for commodity trade or if growth leads to greater economies of scale…

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Winter season in Pakistan is knocking the door. In fact it has already started in some parts of northern areas. This year again we are expecting another gas crisis. Energy shortfall and disputes over its allocation have become regulars feature during winter season; as there is 40% increase in gas demand. Around 40 percent of Pakistan’s energy needs are being met by natural gas. The power sector consumes 43 percent of the total natural gas available in the country whereas the residential domestic customers as well as the sector and fertilizer industry are consuming 21 percent each. Sindh is the…

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Pakistan can become important part of China’s futuristic technologies On October 07, 2019, the President, Dr. Arif Alvi, has promulgated an ordinance for the establishment of the China-Pakistan Economic Corridor Authority (CPECA) to accelerate the CPEC-related activities, coordination among stake holders, timely completion of the corridor’s projects and to look for new initiatives for development. Furthermore, it would unleash the potential of inter-related production network and comprehensive and global value chains through regional as well as worldwide connectivity. Currently Pakistan traversing the changing global power equations and the Kashmir issue and CPEC seems to be the positive way forward and…

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The consumer goods sector includes a wide range of retail products purchased by consumer right from food and clothing to luxury items such as jewelry and electronics. While overall demand for food is not likely to fluctuate, however, the specific foods consumers purchase can vary significantly under different economic conditions. Consumer spending, another term for voluntary private household consumption or the exchange of money for goods and services,varies greatly depending on a number of economic factors. The economic factors that most affect the demand for consumer goods are employment, wages, consumer confidence prices and Interest rates, effect of invisible hand,…

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Every company and organization operating today is different; however all are facing a common challenge i.e. need for connectedness and access to real-time insights across processes, partners, products, and people. The term “Industry 4.0” refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine learning, and real-time data. It also referred as IIoT (Industrial Internet of Things), or smart manufacturing which the amalgamation of physical production and operations with smart digital technology, machine learning, and big data. It is creating a more holistic and better connected ecosystem for companies that focus on manufacturing and…

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The nature of poverty is complex, and its causes are diverse. It is characterized by a lack of access to essential goods, services, assets, and opportunities to which every human being is entitled. There should not be any hunger, everyone should live in peace and have access to basic education and primary health care services. Poor households need to sustain themselves by their labor and be reasonably rewarded and should have a degree of protection from external shocks. In addition, individuals and societies are also poor — and tend to remain so — if they are not empowered to participate…

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Shipping as one of the world’s most global businesses bodes well at the zenith of world monetary movement. Transportation is viewed as the foundation of globalization and universal exchange, as 90% of the world exchange is helped through boats. Shipping is fundamental to the best possible operation of any nation’s economy and a crucial piece of a countries transport infrastructure. Today, the shipping industry is still facing a hard period due to macro economic conditions. Most of the shipping entities are struggling to survive these difficult times. There are clear signs of economic recovery in the other sector but on…

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The first organized athletic events took place in Greece in 776 (BC), with the advent of the ancient Olympic games. The Olympics featured running races, throwing contests, and other competitive events, with the greatest athletes from the Greek empire competing. Interest in sports diminished during the Middle Ages but sports for entertainment reemerged around 1200 in various European countries. In France, for example, teams played a hockey-like game called la soule. La soule was discouraged by authorities because it was thought to be too rough, but the sport generated an interest in other games like tennis, which became popular in…

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Over the past decade the blue economy has become a widespread buzz word. Though it refers to the control of the earth’s oceans and marine life, however, it has different and conflicting meaning for different people; hence have blurred definitions and applications. The blue economy is an ocean-based economic growth model designed to ensure sustainable use of the marine environment. It includes ‘traditional’ offshore activities (e.g. oil and gas development, shipping, fisheries) and emerging industries such as deep sea mining and renewable energy. The social acceptability of ocean based industries, sometimes known as ‘Social License to Operate’ (SLO), will be…

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“We have undoubtedly achieved Pakistan, and that too without bloody war, practically peacefully, by moral and intellectual force, and with the power of the pen, which is no less mighty than that of the sword and so our righteous cause has triumphed. Are we now going to besmear and tarnish this greatest achievement for which there is no parallel in the history of the world? Pakistan is now a fait accompli and it can never be undone, besides, it was the only just, honourable, and practical solution of the most complex constitutional problem of this great subcontinent. Let us now…

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Consumption is the process by which goods and services are put together for end user. Consumption is at the end of the line of economic activities that starts with an evaluation of available resources and proceeds through production of goods and services and distribution of goods and services. Pakistani society is becoming a consumer society. The economic development has brought about a revolution in values. The demand for luxury and branded products cannot be fully satisfied by domestic production. Pakistani consumers are facing copious westernization such as the demand for imported cosmetics, toiletries, electronic items which are perceived as luxury…

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Personal finance is the management of financial resources. Saving helps us to overcome significant problems in our lives. To manage our income means to start a journey towards financial freedom. This does not necessarily mean having a luxurious life, but to adopt effective measures of achieving a certain comfort efficient management of money for each individual brings a qualitative growth. Money is a tool, the means by which we support our unique values and priorities. Therefore it is important to create a financial plan, savings strategies. Goals and opportunities for individuals to save are different and it is difficult to…

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Currently, Pakistan’s circular debt stands at a whopping Rs1.4 trillion, which includes the loans accumulated by previous governments. The alarming source of this burden is the persistent IOUs that keep piling up among all the stake holders in the energy sector supply chain. This includes power distributors, power producers, as well as oil and gas companies – PEPCO (Pakistan Electric Power Company), IPPs (Independent Power Producers), K-Electric, Pakistan State Oil and Sui Southern Gas, to name a few. Circular debt occurs when one entity facing problems in its cash inflows holds back payments to its suppliers and creditors. Therefore the…

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Though Pakistan is now 72 years old, still our economy is going through a transition phase. The stabilization policies are in place to ensure a stable macroeconomic environment which is vital for economic development. The government is pursuing wide-ranging reforms to improve the ease of doing business in the country and minimize the cost of stabilization measures. The former Governor, SBP, Mr. Tariq Bajwa, in his keynote address during Bloomberg Pakistan Economic Forum, on March 18, 2019 talked about “Financial Inclusion”. He said that it is an important instrument for inclusive economic growth and therefore, is also a high priority…

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Agriculture sector have a great role in the economic development and prosperity of Pakistan. In the early time, it is considered to be a dominant sector but due to the political, social, environmental and climate conditions its production yield is continuously going down. The rural transformation pace remained very slow resulted in problems like food insecurity, poverty, unemployment, illiteracy etc. It is very important that focus should remain on raising food production through efficient irrigation and innovative technology, agriculture diversification, agriculture support services, etc. The macroeconomic stability is a fundamental pre-requisite for sustained economic growth. The country’s inability to achieve…

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The current population of Pakistan is 204 million which is 2.65 percent of the total world population. As per the new National Human Development Report by the United Nations Development Program (UNDP); Pakistan is currently having the highest population of youth. Pakistan is termed as one of the youngest countries in the world and second youngest in South Asia, right below Afghanistan. A total of 64% of the total population is below the age of 30 while 29% of it belongs to the age bracket of 15 to 29 years. Any study of human development is incomplete without considering demographic…

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Trying to stabilize the uncertain economic conditions of the country, the PTI government has set an ambitious tax revenue targets in the first full-year budget for Rs7,022 billion, for fiscal year 2019-20. Despite a massive Rs1.405 trillion tax plan, the federal budget sees no major change in the overall fiscal deficit during 2019-20, which is set to come in at a record Rs3.15 trillion or 7.2 percent of GDP. A spiteful range of taxes has been proposed on almost all sectors of the economy, in line with the International Monetary Fund (IMF) for a bailout package, with maximum focus on…

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The history of use of waterborne vessels is as old as humans. Research has found the use of boats as early as 4000 BC. Now the 90 percent of world trade is being done through international shipping industry. Shipping is the life force for the global economy and with it the intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply not be possible. It is estimated that around the globe more 53,000 merchant ships are transporting every kind of cargo, out of which 11,000 are bulk carriers. The world fleet…

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The National Economic Council (NEC),the country’s highest decision-making body on economic policy, in consensus with federal cabinet is looking forward the various proposals that could create a revenue cushion of about Rs1.45 trillion in the next fiscal year, taking the year’s revenue target to Rs5.55 trillion from a dismal Rs4.2 trillion. Over Rs700 billion in additional revenue has to come from two areas viz sales tax and income tax. However, proposals are underway for increasing general sales tax by 1 per cent or 1.5 percent to yield over Rs350 billion. The proposed budget strategy paper estimated the next year’s federal…

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Remittances plays a crucial role in Pakistan’s economy. According to World Bank’s report the projected Pakistan’s remittances growth to remain moderate at 6.2% due to significant reductions in inflows from Saudi Arabia and Gulf States. The country was ranked 7th amongst the top ten recipients of remittances globally in 2018 receiving $20.9 billion and with India ranked at 1st with $79.5 billion. The much needed inflow of dollars are like blood lifeline for Pakistan as it boosts foreign exchange reserves. Pakistan received overall remittances of $19.3 billion in fiscal year ended on June 30, 2017, down 3% compared with $19.91…

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The Islamic finance industry has grown at double digits, in the past few decade, despite the weak global economic environment. It has been projected that by the end of 2020, it will reach $3 trillion in total assets with 1 billion users. Islamic finance can play a significant role in narrowing the gap of financial inclusion in Muslim countries. Malaysia has been a leader in developing innovative Shariah-compliant savings, credit, and investment instruments for low-income households. However Malaysia has also established specialized financial institutions offering only Islamic finance products (for example Bank Rakyat, the largest Islamic cooperative bank in the…

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Poverty is like punishment for a crime you didn’t commit – Mathematician Eli Khamarov It’s a hardcore fact that a country in debt will not be able to afford good schools, and a poorly educated workforce will be less capable of fixing problems and creating conditions that will attract foreign investment. As per International Monetary Fund, World Economic Outlook Database (April 2019); Pakistan ranked 54 in the list of poor countries with $ 5,839 per capita, preceding by Bangladesh ranked 50 ($ 4,993). India ranked 68 with per capita $ 8,484. Microfinance services have emerged as an effective tool for…

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Interestingly, the use of technology in insurance sector is far less as compared to other industries. The insurance industry inclines to operate along deep rooted traditional lines that have been slow to adopt digital tools and new business models. Outdated organizational structures and legacy technology have also obstructed the velocity of rate of change. Other industry sectors, such as retail, banking and travel are already venturing their prerogatives in digital landscape. However, the need for insurance hasn’t diminished and the tech startups and relatively new insurance companies are stepping into the gap and offering new digital alternatives to consumers who…

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South Korea has become the first country in the world to commercially launch 5G networks, beating US and China who are also in the making of this technology. Soon after the launch of the service on early Wednesday the three top telecom providers of South Korea – SK Telecom, KT and LG Uplus began the 5G service. This new wireless technology will now be available in the Samsung Electronics Galaxy S10. SK Telecom appears to have the most extensive commercial deployment in South Korea to date with the services now available in 13 cities and counties throughout South Korea. Out…

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Leadership is not about a title or a designation. It’s about impact, influence and inspiration. Impact involves getting results, influence is about spreading the passion for work, and inspire team members – Steve Jobs Leadership is the ability to persuade others to seek defined objectives enthusiastically. It is also defined as the capacity to influence a group towards the realization of a goal. Leaders are required to develop future visions and to motivate the organizational members want to achieve the visions. In corporate world, leadership is a process by which an executive can direct, guide and influence the behavior and work…

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“We make our own destinies,” Shamim Akhtar, Pakistan’s first commercial truck driver said. “If I had sat at home, I would have had no future. I worked hard to get this far,” she added. “You just need courage and confidence to remove barriers and hurdles from your way to prove yourself,” she said, adding that from dishwashing to truck driving, the journey had been long and really strange, but now everyone encourages her. The 53-year-old single mother said that it was imperative to empower women in all sectors of life so that they could be economically independent in their lives.…

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There is no doubt that construction sector always has a strong impact on the entire economy and social activities of any country and the application of supply chain strategies are considered to be helpful in achieving higher competitiveness of construction companies. Construction is a worldwide activity with many special characteristics and it includes projects of dramatically different types, sizes and complexities. It seems that the generic supply chains should be simple and linear, however, the construction sector is quite different. The construction supply chains and markets need to be integrated by any construction firm when it delivers a solution to…

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Pakistan’s sustainable economic growth begins with a strong agricultural base since it is an agrarian economy. The agriculture sector contributes around 21% to the Gross Domestic Product (GDP) and employing more than 40% of the labor force. It provides food to the rapidly growing population and fiber to the industry. Besides, the sector is also a source of foreign exchange earnings. Pakistan has been blessed with a very fertile land. Approximately 38 million acres of land is being used for agriculture and forestry; supported by an irrigation system with 40,000 miles of canals. After the textile industry, the sugar industry is the only industry which can be called a model for…

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It was certainly a blessing to have ‘chai-paratha’, with family and friends, on a chilly but pleasant morning, around 60 kilometers away from home, at Gharo. It was later justified as veracious decision to leave my cozy bedroom or clannish dining area on a windy Sunday morning to have a lavish desi breakfast, at Café Imran, after having a hectic 45 hours week work. It was a pleasant surprise for all of us see green fields on both sides of the road, just outside Karachi. Gharo, an agricultural town, feeding to the millions inhabitants of the metropolis of Karachi. It…

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“Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.”― Dave Ramsey Finance is always of great importance, be it in a business or in one’s everyday life. As it is important to manage risks in business, it is equally important to manage risks in life as well. The Banking & Finance Glossary, published jointly by SBP & IBP, define the Personal Finance as financial arrangements of the individuals or households concerning savings, deposits, installment loans or…

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