Budget of any country always have huge impact on government itself, private businesses, civil society, and the public in general and specific at the time of ongoing pandemic situation across the country, an important debate has evolved in many circles regarding the degree to which the scourge of coronavirus (Covid-19) might impact the Pakistani economy. If we evaluate our economy’s aggregate expenditure model we can easily understand how vulnerable each might be to a corona contagion at multi-durational intervals of three, six, and 12 months in the initial phases. The major areas where government focus includes: Prioritizing the businesses of…
Author: Urooj Aijaz
Energy is recognized as a key player in socio-economic progress of any country. Pakistan, like other developing nations in the region are struggling due to energy shortfall as energy sector remains embroiled due to the mismatch between the supply and demand as policymakers have continued to focus on traditional sources of power generation; namely, oil and natural gas. Pakistan is a nature blessed nation where every province has its own kind of wealth where Balochistan and Khyber Pakhtunkhwa (KPK) is gifted by immense wealth through its energy sources. Now a days, Pakistan is suffering from a natural gas shortage crisis…
The Covid-19 crisis is unique in several respects. This devastating recession does not have an economic origin, will dance largely to the tune of non-economic factors, and is truly global. The policy response has been equally unique, in terms of speed, size and scope, eliciting an unprecedented concerted effort combining monetary, fiscal and prudential policies. All this raises difficult near and longer-term challenges. Rebuilding policy buffers in all policy areas is likely to be the policy challenge of the decade ahead, the current pandemic threatens the world economy not only as a health crisis but as a severe social, economic…
Pakistan instead of being the maritime nation unable to effectively exploit the sea and its resources. Decades of neglect have hampered the development of the maritime sector, which in turn has hurt both economic and blue growth along with the national security of the country. While seaborne trade is the backbone of Pakistan’s economy, the domestic shipping and shipbuilding industries are in disarray. The exploitation of offshore natural resources is restricted to coastal fisheries. Despite its animosity with neighboring India, Pakistan has until recently relied on two co-located ports at Karachi and now partially on Gwadar which is expected to…
The COVID-19 pandemic delivers a powerful shock to economies and exposes uncertainty all across the globe. Government’s brakes on imposing lockdowns vary time to time as per the rate of infections along with the negative interest rates on governmental debt as there are massive increase in central bank bond holdings. Huge fiscal deficits will add substantially to total government debt. Trade patterns will be adjusted, some permanently as many nations move toward producing more goods themselves. Some argue the crisis was unforeseeable while others retort that the failure to build emergency savings was inexcusable but as the pandemic and economic…
The novel COVID-19 virus has caused an economic shock three times worse than the 2008 financial crisis. It has been a crisis like no other shutting shops and schools, closing borders and putting half of humanity under some form of lockdown during the spring of 2020. The extent of the damage will depend on how quickly the virus is contained, the steps authorities take to contain it, and how much economic support governments are willing and able to deploy. The COVID-19 outbreak has generated both demand and supply shocks reverberating across the global economy. However, pandemic will have more severe…
The growing COVID-19 crisis threatens to disproportionately hit developing countries, not only as a health crisis in the short term but also as a devastating social, economic and political crisis. At present the bigger challenge for the world and for the developing countries is to keep economic wheel moving to ensure food security and wellbeing of the society during the various barriers of physical distancing and lock downs. COVID-19 threatens to have devastating consequences in developing countries. Health systems are unable to cope with the precipitous increase in infections and these countries limited resources to cope up with the socioeconomic…
Everybody in this world is prone to dreaming which they need their future to be, hence I have a dream for a Pakistan, which is much different than the one we see today. I dream for a Pakistan to be a developed welfare state where industrial revolution will transform our agrarian economy into the new diversified economy as extraordinary pace of technological change in the so called fourth industrial revolution promised tremendous growth by highlighting new opportunities to achieve inclusive agriculture and rural growth at an accelerated speed and transition towards high productivity manufacturing and other economic sectors in developing…
Digital technologies have been changing the world economy where numerous nations still can’t seem to encounter the full developmental advantages of digital technologies, for example, inclusive and sustainable development, better governance, and responsive delivery of services. Given the size of change in competitive advantage that digital technologies can confer on adopters, the risks of slow or poor adoption of these innovations can be dire for industries, governments, individuals, and nations so, Government of Pakistan striving hard to document the international transaction with tax rebates to ensure not only economic expansion but encourage international financial tools to enter in our market.…
In the current world of globalization markets and their economies leading from the front and every activity of residents of any nation are measured economically. In past most of the people used to utilize their leisure hours (entertainment) in watching sports which was quite casual and relaxed but today’s sport is often organized, mechanized, marketed, and administered as a business. Commercial interests influence virtually every decision in sports. Events are rated by television audience share, tickets sales, web site hits, concession sales, and sponsor revenue and media coverage. Wins and losses are also important because they influence all of these…
Infrastructure development is one of the main pillars of economic growth of any economy and China Pakistan Economic Corridor being one of the largest project of its kind witnessed the transformational change in almost every sector of Pakistan’s economy and like other sectors it also brought revolutionary change in real estate and infrastructure of Pakistan through linkage of Gwadar and Kashgar. This linkage, change the dynamics of real estate and it is the time that foresee the increasing trend of this sector, which is obviously transformed into employment opportunities and development of allied industries in near future. CPEC impacts Pakistan…
A compulsory COVID recovery plan for developing nations There is no doubt in the fact that Covid-19 pandemic impacted each and every aspect of Life leading towards the most dangerous recession in the entire world. Apart from its health or medical implications developing countries in specific and the world in general may face its enormous consequences on capital accumulation which obviously have negative results on the long term growth of their economies. History witnessed the every pandemic not only impacted the capital formation but disproportionately widen the gap of gender divides in educational attainment for which every developing nation already…
Nationwide campaign of Bahria University to promote Blue Economy of Pakistan Whenever we think of water the thing which comes in our mind is life representing its importance and enforces me to call all oceanic activities as Blue Gold. Oceans are of great significance for the survival and advancement of societies as they sustain life, connect the world and facilitate development. “The blue planet that humans inhabit is not divided into islands by the oceans, but is connected by the oceans to form a community with a shared future, where people of all countries share weal and woe”. Hence peace…
Peace building, conflict resolution, conflict prevention, whichever term we use, sits uneasily within one particular field, discipline, or government department for that matter. Is it development, foreign policy, diplomacy, defense and security, justice and human rights, any or all of the above? Perhaps it is unsurprising that there is no neat fit. Addressing the root causes and drivers of conflict is a long-term and complex task for those living with conflict first and foremost, but also for those supporting people working for peace. Conflicts have multiple drivers, operate as systems, are often local and do not stop at state borders.…
Nation branding has become an increasingly important strategy for world because of increasing market complexity resulting from globalization forces, domestic and international government policies, foreign exchange fluctuations and changes in the natural environment, which obviously wider the range of factors such as sustainability and market competitiveness. Nation branding is crucial in order to attract investment, boost exports and attract tourists and talented workforce and stands between public diplomacy and economic benefits. An adequate policy of Nation Branding based on a positive, credible and economically reliable image can be able to extend the range of potential customers and of potential investors.…
A unique and terrifying moment in modern history is unfolding before us, every day but it teaches us a lesson of rapid transformation in many areas of public life as no country, or state, or locality, or even individual hospital was properly prepared for Covid-19. At this time of crisis where social distancing and culture of stay home to be safe are promoted supply of basic needs and goods is really a big challenge for governments all around the world and this crisis metastasizes into the kind of ugliness and horror we have witnessed in other countries, it will become…
The Gravitational forces of global geopolitics and geo-economics is moving back towards East from the West and as this rebalancing unfolds, the 21st century will be the Asian Century. BRI is the key that not only integrates Asia but ensures stable and sustainable future of this continent. Asia is always a continent with socio-economic and cultural divides and to overcome these divisions into inclusive Asia integration on all fronts is very important so there is a strong need to work on three modes of connectivity: physical, digital, and people-to-people and BRI successfully doing this by reducing the gap between its…
COVID-19 threatened the world in each and every sector of their economies and may also increase the chances of corruption as every government nowadays are busy to counter the health crisis. Corruption, the abuse of public office for private gain, it erodes the social contract and corrodes the government’s ability to help grow the economy in a way that benefits all citizens the COVID-19 pandemic has heightened the importance of stronger governance for three reasons. 1st Governments around the world are playing a bigger role in the economy to combat the pandemic and provide economic lifelines to people and domestic…
Almost no facet of our world economy has been immune to the COVID-19 crisis not only as a health crisis in the short term but also as a devastating social, economic and political crisis. People think that most disruptions occur in health, airline, hotel and restaurants and sports industries but the long arm of COVID-19 has also reached out to sea, affecting our “blue economy.” This collection of formal and informal marine jobs, products and services has been valued at $2.5 trillion a year. If the ocean were a nation, it would rank as the 7th largest economy in the…
The coronavirus pandemic has rapidly transformed life of millions of people all over the world. For many, COVID-19 carries feelings and challenges of fear, anxiety, economic hardships, isolation, and many other stresses but developing countries are the main hit of the pandemic, not only as a health crisis in the short term but also as a devastating social, economic and political crisis. At present the bigger challenge for the entire world and especially for the developing nations is to keep their economic wheel moving to ensure food security and wellbeing of the society under the barriers of lock downs. Beside…
The growing COVID-19 crisis threatens to disproportionately hit developing countries, not only as a health crisis in the short term but also as a devastating social, economic and political crisis. At present the bigger challenge for the world and for the developing countries is to keep economic wheel moving to ensure food security and wellbeing of the society during the various barriers of physical distancing and lock downs. With calls for social distancing, service sector jobs that depend on customer-provider interactions or involve the congregation of large numbers of people are likely to take a huge hit. Workers in industries…
Relating economics with education means highlighting economic issues relating to education, including the demand and supply for education, the financing and provision of education, and the comparative efficiency of various educational policies which impacts any economy. Economics is a framework that not only allocate resources but it also identify that a well-educated labor force is crucial for any nation to compete in an increasingly global economy that only rewards skills and knowledge. Evaluating the productivity of educational institutions, study of incentives and choices will make economics more relevant to educational reforms and policies. [ads1] Education is the most important…
A nationwide campaign of Bahria University to promote country’s blue economy In recent years, policymakers have come to the conclusion that foreign direct investment (FDI) is needed to boost the growth in developing economies. It is claimed that FDI can create employment, increase technological development in the host country and improve the economic condition of the country in general, making investible funds available. FDI inflow to developing countries is assumed to produce externalities through technology transfer and spill-over effect which have a last longing effect on the economy. There are many benefits of FDI both to the host country and…
A nationwide campaign of Bahria University to promote country’s blue economy The performance of logistics sector provide a distinct contrast to the financial downturn Pakistan has been buried in. As of December 2018, the logistics sector is valued at $34.2 billion, registering an annual growth rate of 18% between 2017 and 2018 (source: Ministries of Communications and Postal Service), specialists rush to call attention to that the figures present just piece of the image in light of the fact that a huge portion of the segment works in the grey economy with no verifiable records or information. Pakistan is one…
A nationwide campaign of Bahria University to promote country’s blue economy Global sea ports have great importance for world economy as global container traffic has grown by an average of 10% annually since 1990. Equally, the steady growth of ship sizes poses major logistical and technical problems worldwide. Given these facts, shipping and maritime logistics would largely benefit from Big Data as well as the emerging digital technologies. Apart from the many positive effects of digitization in maritime logistics with respect to efficiency, safety and energy saving, there are, however, also risks (e.g. data abuse, cybercrime). In maritime logistics, automation…
A nationwide campaign of Bahria University to promote blue economy And it is He who subjected the sea for you to eat from it tender meat and to extract from it ornaments which you wear. And you see the ships plowing through it, and [He subjected it] that you may seek of His bounty; and perhaps you will be grateful. — (Holy Quran) The objective of ‘Green Economy in a Blue World’ is to analyze the challenges and opportunities of a potential transition towards a green economy in key sectors heavily linked to the marine and coastal environment – the…
A nationwide campaign of Bahria University to promote country’s blue economy Recognition of the blue economy and smart shipping concept in developing economies has meant that countries are now strengthening on how to increase port capacity and efficiency ahead of their competitors. As we all are aware that blue economy create blue job opportunities in different areas like shipping, insurance, seafaring, port operations, financial services, vessel registration, ship building & ship breaking, ship repair and shore based auxiliary support etc. Therefore the stakeholders are now investing in infrastructure development and implementation of friendly maritime policies along with latest technology and…
Pakistan is the land of my forefathers; they are buried here and become part of our land and every handful of its dust is colored with the blood of ancestors. Independence Day is important indeed. But what is vital is that the vim and vigor of the Independence Day. We need to celebrate our achievements in different areas but a specific domain wish to highlight specifically our country lingers to ache from its international reputation of being an ‘unsafe’ state for the females having no rights to women to participate in development of state and due to repetitive negative portrayal…
Our actions are our future So called agriculture country in food crisis, why? Pakistan is essentially an agricultural country given the percentage of agricultural products it exports and the people employed in this sector. Pakistan has rich and vast natural resource base, covering various ecological and climatic zones. About 27 percent of Pakistan’s total land area is under cultivation. Agriculture accounts 21 percent of GDP and employs 41 percent of labor force and a vital sector of Pakistan’s economy. The agriculture sector directly supports the three-quarters of country’s population, employs half the labor force, and contributes a large share of…
A nationwide campaign of Bahria University to promote Blue Economy Blue Economy identifies the water bodies as main drivers of the economic progress with great impending for novelty and growth. According to the World Bank, the blue economy is the “sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.” European Commission defines it as “All economic activities related to oceans, seas and coasts. It covers a wide range of interlinked established and emerging sectors. “The Commonwealth of Nations considers it an emerging concept which encourages better stewardship of our ocean…
A nationwide campaign of Bahria University to promote Blue Economy Shipping logistics represents a person or company who contracts to transport cargo from the port or place of discharge of a sea-going or ocean-going ship to another destination by a different means of transport, such as a feeder vessel, truck, train and Glossary of Port and Shipping Terms etc. The Indian Ocean is a vital part of the economies, livelihoods and cultural identities of the States which border or lie within its boundaries. Fisheries, offshore oil and gas, tourism and maritime industries are already making a significant contribution to the…
A nationwide campaign of Bahria University to promote Blue Economy The goal of Islamic finance is to bring greater justice and strive to achieve socio economic development it serves as a tool to foster economic growth and human well-being. Promoting risk-sharing instead of debt-financing, reduces poverty and inequalities which are the necessary objective of the needs to be addressed by economic development policy makers by which corporations in the Muslim world, including banks and other lending institutions, raise capital in accordance with Shariah, or Islamic law. It also refers to the types of investments that are permissible under this form…
Nationwide campaign of Bahria University to promote Blue Economy Economists hold that trade deficit in the long run can drag-down economic growth of any country. As globalization provides countless opportunities for international trade meanwhile numerous commercial and political risk are there too in carrying out cross-border trade. Pakistan is facing the persistent trade deficit since independence . In addition to this war on terror and poor law/order situation, the risk of theft/damage/lost during the cross border trade has increased dramatically. To hedge these risks, companies insure themselves under different private and government insurance policies. Economists hold that trade deficit in…
We now live in the era of rapid globalization and unprecedented advancement in technology. Technology has become a yardstick for a country’s socio-economic development and it is widely accepted that technology is the key driver of economic growth of countries. It plays a strong role not only in increasing productivity but also provides better living standard, rapid increase in supply, improved trade, advancement in infrastructure, low wastages of resources, minimizing cost, overcome vicious circle of poverty, improving the quality etc. but having lots of benefits some are the issues too involved in either advancement or adoption of technology like diffusion…
“Economic Empowerment Of Women” a small phrase have different meanings and understanding to different people depending on their experiences, circumstances, hopes, and dreams. It may means, An opportunity of make my dream come true; or Gaining wealth of knowledge; or Success, productive, employable, promotion, critical thinker, prosper, educated, experience; or It means giving employees skills, resources, and opportunities as well as making them responsible and accountable for what they’re doing. The existence of a beautiful world cannot be imagined without considering women rights and empowerments. Women’s economic empowerment refers to the ability for women to enjoy their right to control…
Striving hard by creating wealth of opportunities in the neglected areas to contribute better for Pakistan Opens nationwide campaign to create ‘blue economy’ awareness; bridging academia-industrial linkage The university’s place as a paramount player in a global system increasingly driven by knowledge, information and ideas. We live in a time when knowledge is ever more vital to our societies and economies, in a world of rapidly circulating capital and people have revolutionary communication technologies. Knowledge is replacing other resources as the main driver of economic growth, and education becomes the foundation for individual prosperity and social mobility. Universities play an…
Nationwide Campaign of Bahria University Karachi (Dept of H&SS) to spread awareness about Blue Economy The idea of Blue Economy recognizes the sustainable use of ocean and coastal resources for economic growth, improved livelihood and jobs, and ocean ecosystem health. The Blue Economy emerges when economic activity is in balance with the long term capacity of ocean and coastal ecosystems to support this activity and remain resilient and healthy which includes many components: Maritime Transport: Over 80 percent of international goods traded are transported by sea and the volume of seaborne trade is expected to double till 2030 and quadruple…
The collaboration between industry and the academic world has always been an important but complex topic. Due to the rapid evolution of the business environment and the vast transformations throughout the academic realm, the subject is now even ‘hotter’ than it has ever been. Efforts were being made to utilize capabilities of educationists and researchers. Partnership among industries and universities is a two-way process where academic partner or universities work and benefit with established businesses in different ways like collaborative research and development, supporting innovation in SMEs, consultancy and advice, internships and placements for students, graduate employment and providing Continuing…