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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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Global demand for skilled man power in Islamic finance

  ‘The development of skilled human resource base is critical for sustainable growth of Islamic finance industry in Pakistan,’ said the Federal Minister for Finance Senator Muhammad Ishaq Dar. He made these observations while speaking as the chief guest at the launching ceremony of the third Challenge Round of Financial Innovation Challenge Fund (FICF) on ‘Promoting Excellence in Islamic Finance’ program, which is being funded by UK Aid and implemented …

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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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Self-sufficiency in low-cost bike production

  Pakistan has achieved self-sufficiency in bike production and it can become a major exporter to at least developing countries due to this low-cost two-wheeler production. What is actually needed is the official patronage of local producers in terms of incentives and facilities in order to boost bike exports from Pakistan. In 2010, a record 1.8 million motorcycles were manufactured in the country. Its production is still on the rise. …

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The worthless Balochistan’s renewable energy potential

  Oil, gas and coal are the three main sources of energy as these are meeting 75 percent of global energy needs. Simultaneously, these sources playing key role in socio-economic uplift of the people but their waste and fumes bringing havoc to the environment as according to the World Health Organization (WHO) estimates, about three million premature deaths occur in a year due to environmental pollution. The experts consider renewable …

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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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Drug pricing policy hostile to industrial growth

  Over the passage of time, the pharmaceutical industry has developed a strong base in Pakistan and has the capacity to add value to our export earnings considerably, however, friendly policies are essentially needed to achieve that goal besides enabling the industry to run on its capacity, which is unfortunately not being properly utilized due to various reasons. To enhance export of pharmaceutical products, most of the companies needed international …

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Balochistan: an ultimate land for shrimp farming, growth prospect

  Shrimp is considered as the No.1 favorite seafood in many Western countries including USA. The demand for quality shrimp worldwide is growing each year. Depletion of natural shrimp stocks in the wild is occurring rapidly. Shrimp farming in the world has grown into a multi billion-dollar giant, creating hundreds of thousands of jobs and much-needed foreign exchange in many countries. Owing to the technological advancement and new techniques as …

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Global food chains dominating Pakistan’s fast food industry

  Fast food industry in Pakistan is likely to take an escalated boom this year The fast food industry in Pakistan is undergoing an escalated boom. Despite fierce economic competition, country’s this industry has managed to generate strong profits and is well-received by the local masses as well. Recent statistics have revealed that fast food industry is the second largest in Pakistan. Not only that, but this sector also accounts …

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