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Trade & Economy

Cross border smuggling between Iran and Pakistan

  Ali Awsat Hashmi, Governor-General of Sistan-Baluchistan province Iran has underscored the need to take practical steps in order to effectively stop cross-border smuggling and promote enhanced trade between Pakistan and Iran. Effective and workable measures are required to manage unofficial cross border trade through documented and official channels that will not only add to revenues but open doors for legal trade between the two brotherly countries. Speaking at a …

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Migrant remittances hold the key to Pakistan’s economic balance and sustainability

  The economy and foreign exchange reserves of Pakistan like most developing countries across the world rely in part on migration and workers’ remittances. To put things in perspective, the $15.83 billion1 that overseas Pakistani workers (Pakistani Diaspora) sent back home in the country’s fiscal year 2014 from July 01, 2013 to June 30, 2014 contributed to the country’s GDP. An IMF research paper stated that workers’ remittances contributed 4% …

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Global remittances business

  Over the years increase in remittances received in Pakistan has become a talking point. The successive governments take credit of this increase but when compared with other countries, Pakistan’s share look miniscule. While it is true that Pakistani’s are hard working, the negative image of the country often becomes the biggest hurdle. Added to this is the role being played by agents operating in Pakistan, taking the people on …

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How does the Hawala system operate in Pakistan?

  Hawala is probably the most convenient way of transferring funds from one party to the other i.e. from within Pakistan to abroad or vice versa without intervention of SBP or the financial sector. Hence, the transaction from initiation to execution is untraceable. Hawala is used for genuine need as well as terrorism. When it comes to genuine need, it may arise through a customer or even a company. Hawala …

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The phenomenon of increasing prices

  The economics of public debt is intriguing as well as fascinating! In interest-based capitalistic system, one cannot underestimate the value of debt. The system is designed such that economic progress and growth are made subject to ever-increasing prices of goods and services. The phenomenon of increasing prices is sustained by a corresponding increase in money stock through additional printing of currency. The additionally printed currency, going into an economy’s …

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Keti Bandar – part of CPEC

  Prime Minister Nawaz Sharif, as per top news item in Business Recorder of 20th December, 2016, has directed the inclusion of KCR and Keti Bandar, part of CPEC KCR had been and still a most viable project as per study of JICA, to cater the needs of Karachi Suburbs. It was well utilized before its closure, so, it may be gift to Karachiites, a city of 25 million people, …

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Retailing soon to shapes on global format

  Pakistan has witnessed the mushroom growth of more and more malls, restaurants, sport complexes, multiplex cinemas, and a large number of shops in big cities. Household size and income have a decisive influence over shopping decisions. Research studies show that in Pakistan’s mega cities a majority of households with larger family sizes shop at general stores, while those with smaller family sizes shop at large supermarkets. Quality shopping has …

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Retail banking 2020: Evolution or revolution?

  Innovation & technology The financial services market is undergoing a lot of changes. Customers always have appetite for more and are well knowledgeable, looking for convenience and ease when it comes to financial services, particularly via internet and mobile phones making innovation and transformation two most powerful forces that are reshaping the banking industry. Customer expectations, technological capabilities, regulatory requirements, demographics and economics are some of the challenges that …

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Wal-Mart in Pakistan: An impetus to fast emerging retail business

  Country presents huge opportunities in areas of organized retail format Since the modernization of global retail industry in 1990s, the international chains are exploring opportunities in turning this most impressive economic component of modern business cycle, a key participant of retail sector. The retail industry is a sector of the economy that is comprised of individuals and companies engaged in the selling of finished products to end user consumers. …

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Flourishing retail business motivating world retailers to explore and expand in Pakistan

  Retail stores are known to have been operative in China several centuries BC (before Christ). Till the breakup of the USSR (now Russia), most retail stores in all the communist countries were nationalized and still in most countries they remain so. However in some Central Asian states the trend is step by step changing and owned up retail stores are being encouraged and they are mustering up. Nowadays departmental …

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