The banking industry in Pakistan faces tough competition unleashed in the global arena. The banking sector still needs to take effective measures for improving and strengthening its competitive position vis-’-vis the foreign banks. The banking industry must be able to meet increasingly complex banking needs if it is to flourish. The country cannot catch up with its Asian neighbors India and China in terms of economic development without making …

  First priority of the government is to develop a true Islamic financial system ‘ senator Ishaq Dar A true Islamic financial system is close to my heart and we are endeavoring to transform the financial system into a system truly based on justice and equity. In order to give a big push to the movement of Islamic financial system, the Federal Finance Minister Ishaq Dar has also issued directives …

  The European Union (EU) has granted Pakistan GSP plus status despite resistance from India. At the best Pakistan will be able to add another one billion dollars to its exports. Local manufacturers will have to face stiff competition from other countries of the region particularly China, India and Bangladesh. After grant of GSP Plus status, Pakistan will enjoy increased access to the EU market. Pakistan has been trying to …

  The government is taking measures to woo foreign investors as the country possesses huge investment potential in various sectors particularly energy sector. Being the world’s 6th largest populated country with major untapped market it is a delight for foreign investors along a growing middle class, talent pool, natural resource endowments, tourism landscape, maritime wealth, geographic location advantage, English language skills, legal system, social capital and soft power values of …

  Child labor is a work that harms children or keeps them away from attending school. Around the world and in the developing countries like Pakistan, growing gaps between rich and poor and huge price hike in recent decades have forced millions of young children to work. The International Labor Organization estimates that 215 million children between the ages of 5 and 17 currently work under conditions that are considered …

  Pakistan is among world’s those countries which have the lowest savings to GDP ratio, which is mainly because of poor purchasing power. Nearly one-third of total population lives below poverty line. Over the last ten years the gap between rich and poor has widened. Thanks to money whitening policies introduced with regular interval that encourages people to conceal their income. There exists huge undocumented economy and its estimates vary …

  In the first 4 months of the current fiscal year, 2013-2014, the country has witnessed an improvement in its inflow of foreign direct investments. Investments brought into the country are worth $283.7 million spread out over a number of sectors and is 12.5 percent higher in comparison to the $252.1 million, which had been recorded in the corresponding period of the previous year. Data released by the State Bank …

  The history of National Savings Organization dates back to the year 1873 when the Government Savings Bank Act, 1873 was promulgated. During the First World War, the British Government introduced several schemes for collection of funds to meet the expenditure. It was in this context that the Post Office Cash Certificates and during the Second World War, Post Office Defense Savings Certificates were floated. The need to setup a …

  At a time when inflation is at its highest and cost of living is squeezing the pocket month-on-month, savings need to be placed to ensure that additional income can offset high cost of living. Investments by individuals depend on the knowledge of investment avenues. The simplest investment is keeping money in a savings account where more complex invest structures include mutual funds, equity and money market investments. The stock …

  Investors left with no option but to swap major currency for lucrative asset class like gold It is predicted that future growth will be evidenced in gold. The global economy in future may not based on the gold standard, but the recognized value of gold as the basis for real value — whether acknowledged by central banks or not — will never change. Historically, many civilizations have recognized the …