State Of The Economy Of Pakistan Economics Essay

State Of The Economy Of Pakistan Economics Essay Pakistans economy has been ragged by two back-to-back crises. The global fuel and food price hikes twisted severe macroeconomic complexity as public finances worsened, inflation climbed, and economic growth slowed down. In Pakistan, the global financial crisis approached at a moment when the financial system was still recovering from the global pricing shocks, thus making the position more terrible as macroeconomic conditions depreciated further and economic growth slowed down slightly. In these circumstances, a major challenge is to position Pakistans economy back on track. During the peak period of crisis 2007-2009, the percentage change in GDP of Pakistan was decreased sharply from 5.6% in 2007 to 3.6% in 2009. The impact of global financial crisis is said to have affected the economies worldwide but countries who were at a very fast pace growth in terms of GDP took a downward flow. As usual, trade balance figures were in negative infact it declines more at US$ 20.74 billion during the period as exports were slightly increase and sustained its position at US$ 19.2 billion and imports were also increased sharply at US$ 39.96 billion. Foreign investment and foreign direct investment are declining drastically at US$ 2.14 billion and US$ 2.21 billion which are adversely affecting the economy as the reason is not only the crisis but also the credibility of the present government. People are suffering as the Inflation which was around 8% before crisis is now around 17.50%. Before the crisis, Forex reserves were at US$ 15.18 billion which was dropped to US$ 10.83 billion during the crisis. Following the beginning of the global economic and financial crisis in the third quarter of 2008, some witness assumed a gloomy scenario of enormous returns of migrant workforce to their countries of origin. They also expressed acceptable fears about worsening circumstances of work and living for migrant workforce and their families, and increasing xenophobia against them. During Crisis, the ambiguity about the success of a migration further amplified. Infact for some earlier migrants, real economic situations and unpredictable demand for foreign employment are tough to grasp. Consequently when ambiguity enlarged, migration patterns also changes. During 2005-2010, the percentage change of Population of Pakistan increased about 11.4% and estimated total number of international migrants is about 87%. This clearly shows that migration was at its peaks in which male and female both are there with 55% and 45% ratio. It has been observed that from Pakistan around 51% international migrants headed towards Europe while 34% towards Middle East, from which 46% are skilled workers and 43% are unskilled workers. 52% of the total international migrant population is from Punjab and 25% from Baluchistan. A very important analysis is of the factors within Pakistan that would lead to the increasing trend of migrations to countries abroad. Factors which Push people from Pakistan are: Lack of education, lack of opportunities, not enough jobs, aspiration to live a better life, lack of money/income, crime and discrimination, health and poor chances of marrying Factors which Pull people from Pakistan are: Job opportunities, better living conditions, security and health education, better medical care and political religious freedom. Globally, remittances have increased extensively in the last decade. In 2006, remittances were put at US$268 billion which flow through formal channels banks other financial institutions; informal mechanisms, such as Hundi Hawala and other informal mechanisms throughout the world account for possibly half as much again. Remittances are on the whole significant for the worlds poorest countries, which are also frequently the most prone to disasters and crisis. In 2006, $199bn in remittances is observed to have flowed through formal channels to developing countries. Generally, through various channels remittances can put a positive impact on the economy. The common perceptive among different economic intellectuals is that remittances can impact on the economy through investment, savings, consumption, growth, foreign exchange and income distribution poverty. The impact on remittances is probably to be a significant mean of communication of the effects of the GFC on developing countries. This research has provided a series of approximations for the likely impact of the global financial crisis on remittances. It has been truly observed that during crisis the flow of remittances always increased. Flow of remittances around the globe increased at US$ 385 billion in 2007 from US$ 317 billion in 2006. But now it has reached at US$ 437 billion estimated for year 2010. It was slightly decreased by 6.5% in 2009. The reasons were the cost cutting in salaries and overtime across the globe due to recession and global financial crisis, increased flow of remittances through informal mechanisms and channels like Hundi and also due to political situations in some areas. During 2007-2009, the growth rate was not at the benchmark around the world except South Asia because it contains the countries like Pakistan, India and Bangladesh which are the main countries of destination origin. If we compare remittance growth rate country wise then it has been observed that most of the remittances come from Saudi Arabia, UAE, Switzerland, Australia and North America. Remittance flow of Pakistan during the crisis grew by 17%, 23% and 7% in 2008, 2009 and 2010 respectively. It has been observed that remittance flow to Pakistan has increased during and after crisis as the with the collaboration of Federal Government SBP began the Pakistan Remittance Initiative (PRI) in 2009 that will surely bring the primary transformation in Pakistans remittance system to enhance and assist the flow of remittances sent back home by Pakistani diasporas. According to Officials of SBP and PRI, still 55% of total remittances flow through informal channel through Hundi and other means. 5.2 Recommendations In the light of the research conducted and the interaction with the people in the field and literature review; the following recommendations are presented in the thesis which would help SBP, PRI, Commercial Banks and other Financial Institutions to increase the flow of remittance through formal channels: Federal Government or State bank of Pakistan needs to promote the remittance sector as it has around 5% share in GDP. They should provide the incentives and motivation to the companies and Diasporas (Non-Resident Pakistani Abroad) that are transporting remittances into the country Not enough existence in overseas jurisdictions of Pakistani banks and lack of marketing efforts are major obstacles to the remittance flow. PRI should provide financial incentive schemes for overseas organizations against mobilization of additional remittances. PRI SBP should monitor the market for remittances so that they should be crystal clear and have adequate consumer safety and security. They should create ways to advanced the payment arrangement infrastructure that likely to enhance the competency of remittance services should be encouraged. Improve assistance made by migrant associations to expansion schemes in countries of origin. As well as help to build up associations between government officials migrant associations in countries of origin in order to facilitate improved associations among these parties and multiply the incomes available for development plans. Cash over the counter payment system should be applied to all the banks in Pakistan except the five big giant banks. To motivate the beneficiaries, SBP should introduce a customer handling system. Publicize information on investment and saving options to Diasporas via common migrant resource centers for remittances. Help build capacity for increasing consular services for non-resident Pakistanis, including database, so that allowing irregular Diasporas to use accessible formal remittance channels where possible. PRI and SBP should monitor the role of remittance service provider so that they should contribute aggressively in the implementation of common principles. As the percentage of remittance flowing through informal ways is quite huge so Commercial Banks with the help of PRI should create ways to downsize the frequency and flow of remittances through informal channels i.e. Hundi.

Pawnbroking in the Victorian Era Essay example -- Victorian Era

Pawnbroking in the Victorian Era Pleasant Riderhood â€Å"was an unlicensed pawnbroker, keeping what was popularly called a Leaving Shop, by lending insignificant sums on insignificant articles of property deposited with her as security.† The Leaving Shop was set up by Pleasant’s mother before she died (Dickens 345). Pawning To pawn goods was an easy, legal way to get cash. The shops were maintained to help people hide their hocking habits. Many shops had the entrance at the back of the building (â€Å"Pawnbrokers†). Pawning showed how desperate people were for money because the pawning business only provided temporary relief. The pawnbroker’s â€Å"lend bank notes on ‘Goods honestly come by’ at five per cent., and which they sell if not redeemed† (Poovey 240). Employment in the Pawnbroking Business (1871) * # men=49; # women=79 * Figures also include shopkeepers and dealers (â€Å"The economy†) The Pawnbroker’s Shop The pawnbroker had â€Å"trinkets and expensive jewellery, while the more humble money-lender boldly advertises his calling, and invites observation.†Dickens described...

Critique on Masculine or Feminine: You Be The Judge

Answer the following questions as thoroughly as possible: Write the thesis statement in the space provided. Is it a clear idea, or would it be better for the writer to express his thesis/claim in another way? â€Å"As an adult gay female, I have seen and can understand the narrator’s feelings of confusion with gender identity, as discussed in the story by Lewis Nordon, â€Å"The All-Girl Football Team† This would appear to be the thesis statement, yet there was not an even balance between the writer's experience, and the story she read. Explain how well the introductory paragraph introduces the text and its author, establishes a thesis statement based on the story and the writer’s personal definition of masculinity/femininity, and establishes an organizational pattern for the essay. What suggestions can you make to improve the intro paragraph? What further information does the writer need to provide about the topic of the essay in the intro paragraph? The writer introduces herself in a compelling way, since she is a gay female, and is speaking about gender identity issues. Her concluding statement,. â€Å"Ultimately, I feel the narrator learned that there are masculine and feminine traits in each individual and it’s ok to express the traits of each gender whether you are male or female.† –seems to be missing the antecedent, as the story she read was mentioned in the firs two paragraphs, and then not mentioned again until the end. I feel the thesis statement would have been more accurate had it been primarily about her experience with the two men who performed in drag, or if her essay had included an equal amount about the story she cited. Her descriptive text is engaging and does address the issues at hand, however the introductory paragraph hinted at content that did not appear. Where could the writer add more examples from the story and his/her personal experience to support the thesis statement? I would suggest including information about religious views, and weaving the story content in with her own experience; while including content from the story, in order to parallel some of her own experience with that of the story's author. Does the writer include the required number of quotes (3)? Where could the writer include more direct quotes from the story? The writer included the correct number of quotes, but could have added a few more in the personal account areas. Overall, the essay was organized well, aside from the hints on the thesis statement that were not addressed. I felt the writer could have made this essay better by writing her thesis statement after she wrote the essay itself. I think she had an idea of what her content would be, but in doing the writing, it veered into some other areas not covered in her thesis. How is the essay organized (clearly, logically, confusingly?). Suggest an alternative way to organize the essay. The essay was well-written, clear, and informative. I believe the essay writer's thesis was illustrated sufficiently. The only suggestion I would make is to incorporate the references to the Lewis Nordon story, â€Å"The All-Girl Football Team† in the middle portions of her essay, so that the thesis will remain clear. Read the last paragraph of the essay very carefully. Explain how well it draws a conclusion about the topic of the essay. Make at least one suggestion for how the writer could improve the conclusion. The last paragraph summarizes and reaches a logical conclusion very well. The only suggestion I would offer is to incorporate in the conclusion what the essay writer learned, since she spent some time including personal experience within the subject matter. Part 2: Following the directions below, write your comments on the essay itself: Identify the strongest paragraph in the essay, explaining why it is the strongest.  · Identify the weakest paragraph in the essay, explaining in why it is the weakest. The strongest paragraph in the essay was the last one, where she encapsulated the ideas of the entire essay; it's concise, thorough and on target. I wouldn't qualify any of her paragraphs as â€Å"weaker,† as they are all important to the essay's theme and development. Check all the quotes in the essay. Are they properly introduced/incorporated and cited according to the rules established on the â€Å"MLA Quoting Made Easy† handout? The essay writer did not include parenthetical page numbers after her quotes, as described in MLA conventions. In the space below, write at least a five-sentence paragraph that explains your overall reaction to the essay. What are the essay’s biggest strengths? Of what would you like to see more? What do you think are the writer’s biggest concerns? What questions remained unanswered? What does the writer need to work on the most? The essay flowed well and covered the important points of her thesis statement, while also accomplishing a feeling of accessibility by the essay writer's inclusion of her own experiences with those who experiment with gender roles. The strength, then, would be the essay writer's ability to personalize the information and also consider the meaning of her previous experience in relations to the subject matter, although I would have liked to see more quotes from the Nordon story. The writer's biggest concerns seemed to be a desire to portray gender issues in a fair context, without overly-romanticizing the conclusion. Other than that, I have no other suggestions for improvement, as this writer did a very good job.

The Decisive Outcome Of The Napoleonic Wars - 852 Words

Thesis Statement: This paper shall attempt to show the reasons for the need of this campaign and why this campaign was important to the decisive outcome of the Napoleonic Wars [1787-1815]. Historical Background: In 1803, the War of the Third Coalition began against France. In this coalition, the powers of the United Kingdom, Austria, Russia, and Sweden went to war against France to reestablish order on the old continent of Europe. In the War of the Third Coalition two major battles of the Napoleonic wars were seen: Austerlitz and Trafalgar—both were decisive in their tides of the war efforts. In the end, Austria would be forced into a surrender, and the Confederation of the Rhine would occur. This would leave the United Kingdom as one of the few states at war with France for the safety of Europe. By 1808, Napoleon was marching on many of the old states (again): Austria, Prussia, and Spain. 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