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Socio-economic and political implications of COVID-19

Socio-economic and political implications of COVID-19

The outbreak of pandemic COVID-19 in 2020 was not only unexpected but also a surprise for the world. The COVID-19 has deep long-lasting impact on every sphere of life extending from social to cultural and economic spheres. As this is highly contagious disease, social distancing is in the crux of solution to this whole crisis. This has changed the social norms on one hand and the economic rules on the …

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Some takeaways of China’s Poverty alleviation

Some takeaways of China’s Poverty alleviation

By the end of this year, China will officially eradicate absolute poverty. In the past more than 40 years since China has begun to implement the policy of reform and opening-up and started the journey of poverty alleviation, more than 850 million people have been alleviated from poverty, accounting 70% of the world total and China alone has made unprecedented efforts and contributions to fulfill the dream of ‘No Poverty’ …

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Irregular migrants – an impact on remittances

Irregular migrants - an impact on remittances

Every year billion of dollar or payment sent by overseas to their home countries. Over the last twenty years these remittances are being utilized for developmental activities and to sustain Pakistan economy. Remittance plays integral part in easing the current account deficit, providing balance of payment increase of export, labor force and market situation as well. Therefore remittances are referred as engine of economic growth. In the month of July …

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High time to involve women in entrepreneurship for a sustainable economy

High time to involve women in entrepreneurship for a sustainable economy

Speaking at the recent launch of a new financing programme titled “Women Ventures” (WV) by Karandaaz Pakistan, in collaboration with the UK Department for International Development (DFID), aimed at improving access to finance for women-led businesses, former State Bank Governor Shamshad Akhtar, also Karandaaz Chairperson, said; “only 8 percent of micro, small and medium enterprise (MSME) owners were women their access to finance is 6 percent and only 1 percent …

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Boosting blue growth through development of maritime silk road

Boosting blue growth through development of maritime silk road

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 …

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COVID-19: The bigger setback to corruption and global imbalances in gender equality

COVID-19: The bigger setback to corruption and global imbalances in gender equality

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 …

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Digital transformation — a way to accelerate COVID recovery

Digital transformation -- a way to accelerate COVID recovery

The growing COVID-19 emergency takes steps to excessively hit developing nations, not just as a health emergency for current but in addition it has overwhelming social, economic and political impacts in future. Recently the bigger challenge for the developing nations is to keep economy moving to ensure food supply and wellbeing of the society during the various barriers of physical distancing and lockdowns. Plagues and pandemics have been undermining mankind …

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Overseas employment

Overseas employment

The Government statistics showed that Pakistan is the 2nd largest manpower/labour exporting country of South Asia. Bureau of Emigration and Overseas Employment (BE&OE) has recorded greater than 11.11 million emigrants for employment abroad. Statistics also showed that during 2019, the Bureau of Emigration & Overseas Employment recorded 625,203 for overseas employment as against to 382,439 emigrants in 2018 explaining a rise of 242,764 people as against to the previous year. …

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All roads lead to Beijing

All roads lead to Beijing

The year 2020 is unfolding a series of transformations for the whole world. The Covid pandemic is wreaking havoc across the continents while some countries are tackling the virus better than the others. China, Germany, New Zealand and Japan are few of the exceptions that have displayed remarkable versatility and acumen in the handling the outbreak. On the other hand, United States and European countries like UK, Italy and Spain …

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New budget under COVID-19: how to equip economy with gears

COVID-19 and the challenges of foreign remittances and expatriates unemployment

These are extraordinary days where extraordinary steps and out of box solutions are required. Budget deficit was estimated around 7.2 percent in fiscal year 2019-20 which is around 8.9 percent; likewise budget deficit is being estimated at around 9.1 percent which will cross 10 percent when the actual numbers will be calculated in 2021. Pakistan’s public debt has risen by almost 40 percent in the past two years; from Rs. …

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