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Earthquake catastrophes: Are we prepared?

  In the past decade, earthquakes were the deadliest disaster as 60 percent of deaths caused by such hazards. The quakes remain a serious threat for millions of people worldwide and eight of the most populous cities in the world are built on earthquake fault-lines, this was observed by Margareta Wahlstrom, first Special Representative of the Secretary-General of United Nations for Disaster Risk Reduction, stressing the importance of investing in …

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Essence of Islamic banking still not in attendance

  ‘Business and commercial activities need to be coherent with the Shariah Corridor and Islamic financial laws’ Despite tremendous growth of the Islamic banking industry it is yet to go a long way to achieve the much desired objectives of socio-economic justice by raising awareness and taking benefits of interest free financial system, free from exploitation. Though more and more people are preferring Islamic banking but financial institutions offering these …

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Fast-growing Islamic banking set to help achieve financial inclusion goals

  Islamic banking industry in Pakistan has been growing at a fast pace ever since its re-launch in 2002 and now represents over 12-percent of overall banking industry with as many as 19 Islamic banking institutions offering Islamic banking products and services through a network of over 1,400 branches across the country. Almost all the conventional banks are also introducing Shariah-based banking upon which the central bank is reviewing their …

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Debt dynamics and its frightening burden in Pakistan

  Every Pakistani owes over Rs 101,338 in debt Govt should raise capacity to monitor and manage public debt The debt market is a market for trading the debt instruments like TFCs, Bonds, T-Bills, Commercial Papers, Participation Term Certificate, Corporate and Federal Bonds etc. A debt market establishes a structured environment where these types of debt can be traded with comfort between interested parties. The debt market is also known …

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Islamic bond market whimpering over the dearth of investment avenues

  While investors have been increasingly fishing for Shariah-compliant investment options, conventional banks and asset management companies, in order to cater to the growing demand for Islamic products, were seen jumping into bandwagon. Ijarah Sukuks are Shariah-compliant medium term investment instruments with 6-monthly (floating) profit payments guaranteed by the Government of Pakistan (GoP). SBP announces profits for Sukuk every 6 months. Facilities of further investment and premature encashment through reselling …

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Value addition can give boost to textile exports

  Government must establish more textile cities Textile sector is the backbone of Pakistan export economy. Comprises of 391 textile mills, Pakistan is the world’s fourth largest producer of cotton and third largest consumer. It contributes 8.5 percent of GDP and employs 38 percent of the workforce in the manufacturing sector. But Pakistan textile industry is mainly beset with the major problems like energy crisis, lack of value addition and …

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Free wi-fi facility on metro buses in Rawalpindi-Islamabad highly popular

  Where does a bus ride offer a free Wi-Fi service in Pakistan? On the Rawalpindi-Islamabad Metro Bus with speeds of up to 36 Mbps provided through the Charji device. With over 18 million Internet users across the country, according to a study, it is evident that ‘Wireless Internet’ known as ‘Wi-Fi’, has become one of the most basic necessities of life for many Pakistanis. A major portion of Wi-Fi …

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Future outlook for FDI in Pakistan

  Pakistan received foreign direct investment (FDI) of $119.3 million in the first two months of current fiscal year 2015-16, which is 7.5 percent higher than the FDI received in the same period a year ago. The FDI increased to $8.3 million year-on-year (YoY) in July-August, as it amounted to almost $111 million in the corresponding months of last fiscal year 2014-15, according to the State Bank of Pakistan (SBP). …

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China’s huge investment in coal-based power generation projects

  The landmark economic package of China is a depiction of the confidence of China and Pakistan and the deep love for a large number of people of Pakistan. The projects are part of a broad bilateral deal called as China-Pakistan Economic Corridor (CPEC) under which the Chinese government and banks will finance Chinese companies to invest $45.6 billion worth of energy and infrastructure projects in Pakistan over the next …

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Pakistan en route to access trade with China, regional and central Asian countries

  Western route under CPEC expected to be completed by December 2016 Work is speedily underway on the Western route under the portfolio of China-Pakistan Economic Corridor (CPEC) projects involving new building of 650-km road from Gwadar to Sorab, which would link Gwadar with Quetta, Qila Saifullah and Zhob. The work was already being carried out by Frontier Works Organization (FWO) for last two years and is expected to be …

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