Author: Vaedy Xiao

Where is the budget mainly invested? Fighting against the Covid-19 continues The epidemic has caused a severe impact on Pakistan’s social and economic development. Economic activities have largely stagnated, and the basic lives of the people have been severely affected. To effectively ease the impact of Covid-19, the budget set up a special response fund for the new crown pneumonia epidemic and other disasters of 70 billion rupees for the first time, accounting for nearly 1% of the total budget; expanded health care expenditure to 25.49 billion rupees, an increase of 130% year-on-year. Providing support for China-Pakistan Economic Corridor related projects:…

Problems encountered by domestic traditional energy The Pakistan government has made a lot of efforts for the development of alternative energy sources. At the same time, it has also formulated many plans to realize the transformation from oil and coal power generation to solar power generation. Pakistan has huge local alternative energy resources, such as large coal reserves and viable renewable energy sources such as wind, solar and hydropower. Still there is much efforts needed to achieve huge transformation to develop alternative energy for the growth of Pakistan economy and image. And to counter this there are issues include lack…

The core of Islamic finance is non-interest-bearing Islamic banks. Theories related to Islamic banks originated in Pakistan, which is a second largest Muslim country, and an important member of the Muslim world. Pakistan has participated extensively in the development process of world Islamic culture, politics and economy, and has had a profound impact on the world. Islamic finance not only develops vigorously in Islamic countries but attracts more and more attention in the global financial market. Countries and regions in Asia such as Singapore, Hong Kong, Ningxia of China and Malaysia are competing to develop their own Islamic financial institutions.…

Pakistan has launched a three-year development plan, hoping to implement major projects to promote better integration of government and social capital and promote rapid economic development. This plan involves 53 large-scale projects with a total investment of 5.2 trillion rupees (about 33.6 billion US dollars) to stimulate economic growth and create more employment opportunities for youth. Infrastructure development drives the economic growth Infrastructure development plan is larger than Public Sector Development Project (PSDP) implemented annually by the Ministry of Finance and Ministry of Planning and Development of Pakistan. But the Pakistani government believes that due to various factors such as…

Pakistan with more than 220 million people is an important country in geological and strategic location. One of the most major reasons impacts Pakistani domestic economy is energy development. According to the report of EIA, though the country is the world’s ninth largest shale gas reserves, its electricity supply seriously depends on import, representing 81 percent of power supply from imported petroleum and natural gas. With the long-time working in restructuring of the energy sector, the government successively improves the production of hydrocarbon and natural gas, alternative energy to tackle the increasing needs and over-dependence on fossil fuel. Energy situation…

The Pakistani government has invested heavily in port development and infrastructure construction in recent years, the social economy has been greatly improved and the people’s living and consumption capacity has gradually increased. In the process of national economic development, many local Pakistani brands have performed well, and some even beat international brands. These brands are well received by people and have made great contributions to economic development. In the following, we will describe the contribution of Pakistani domestic and foreign famous brands to the economy from the aspects of food, clothing, automobiles and electronic products: Food Market In the food…

Economic structures Agriculture accounts for 25% of the country’s total economy. The main crops are cotton, rice, wheat, sugarcane and corn. Pakistan is also an exporter of fruits and aquatic products; industry accounts for 24% of the total economy, textiles and chemicals, Medicine, steel, building materials, cement, fertilizers, sports products, surgical medical equipment and leather products are the pillar industries and main export industries. Besides, energy, IT and light industry have developed rapidly. Work hard to develop the economy For two decades, Pakistan has suffered regional political turmoil, but now the regional environment has greatly improved. The road and oil and gas…

Pakistan’s transportation has a wide and diverse system. In recent years, the new Pakistan National Highway has been completed, improving domestic trade and logistics. The Pakistan railway network owned by the Pakistan Railways Company has also expanded in recent years. The airport and the seaport are also gradually being built with the supplement of domestic and foreign funds. The Pakistani highway began highway construction in the early 1990s, building a world-class road network and reducing the usage of national highway loads throughout the country. Its total length is 263,775 kilometers. The National Expressway is a toll road network owned, maintained…

According to published reports, Pakistan’s National Ministry of Food Safety and Research said that the government will use various means to achieve the UN’s goal of eradicating hunger by 2030 and to achieve this goal, all parties need to work together. The new government has made promoting agricultural development and access to clean drinking water a top priority. At present, the new government has begun to promote smart agricultural technology and water management systems to improve the production and living conditions of small farmers. At the same time, agricultural researchers are also stepping up efforts to address environmental issues such…

There are numbers of professional works in banks that are needed artificial review, which should be careful and conscientious. Therefore, there are higher requirements for bank tellers when dealing with bank professional works. Especially the loan service in banks, which requires the tellers to have deep knowledge about the information of lenders and their loan projects. Besides, ensuring the integrity of loan material and its authenticity is also of great necessity. What’s more, they should have fully understand to costumers’ identities and background and ensure they have enough qualities to carry out loan activities, and these factors tend to be…

Automobile finance is a financial activity that integrates funds in the process of production, circulation, and consumption of automobile, mainly including fund procurement, credit utilization, and relevant insurance and investment activities. It is an inevitable result of auto industry integrating banking business. The connotation of auto finance are continuously enriched with the expansion of auto finance business. In terms of present situation, auto finance refers to the market operation field that provides financial service for consumers, auto enterprises, and the auto dealers. Besides, auto finance industry at present regards commercial banks, auto finance companies, insurance companies, and associated service organizations…

Pakistan is a developing country that belongs to an underdeveloped capitalist market economy. The economy is dominated by agriculture, whose agricultural population accounts for 48% of the total population and 25% of GDP. The main crops in Pakistan are cotton, wheat, rice, sugar cane, etc. and cotton is Pakistan’s main cash crop, which accounts for 5% of the world’s total output, ranking the fifth largest cotton producing country in the world. There are large irrigation systems that provide favorable water conditions for food and cash crops in the Indus Plain and the Northern Valley, which known as granaries. Therefore, food…

Public utility is the general term for various businesses that serve people’s daily life, which possesses the basic characteristics of various enterprises. It is commonly referred to as urban infrastructure and municipal services, which mainly involves environmental sanitation, transportation, water supply, electricity, gas distribution and supply, and other public daily services. Public utilities are an indispensable part of people’s lives and are also the basic conditions for urban development and survival. It measures the country’s economic development level and the resident life index. In addition, public utilities can improve labor productivity throughout the city, improve people’s quality of life, and…

Image from https://www.asiatimes.com/ Pakistan’s growth rate of GDP has reached a new high. According to the data released by the Central Bank of Pakistan, the constant price calculation based on the 2005-06 fiscal year, the GDP growth rate of the 2017-18 financial year hit a 13-year high of 5.8%, an increase of 0.4 percentage points over the previous fiscal year. At the current price, the total GDP reached to Rs 34.4 trillion, but due to the depreciation of the Rupee against the US dollar is in excess of 15% in the 2017-18 fiscal year. And if the current US$ is…

Image source:  https://www.google.com Former finance minister Asad Umar, who made a speech at the extra-budgetary consultation and scheduled conference in Islamabad (02.04.19) indicated full agreement with thoughts on “elite capture” and “inheritance tax”. The financial crisis may be the biggest headache for the new Prime Minister of Pakistan. Whether the emergency budget can effectively improve the deficit and trade deficit, then persuade the IMF to provide assistance is still unknown. On September 19, 2018, the new Pakistani government led by Imran Khan took office in a few weeks and launched an emergency budget to solve the budget deficit and trade…

“The poverty alleviation plan will be the most important part of the government’s 100 days in power and will be showcased to the Pakistani people in the coming days!” The new Pakistani Prime Minister Imran Khan, who promoted anti-corruption movement before taking the inauguration ceremony, is now focusing on poverty alleviation. Considering that nearly a quarter of the country’s population is still below the poverty line, Imran Khan declared on the 10th that the government is planning to announce Pakistan’s first large-scale poverty alleviation plan in the text few days. As Pakistan’s ‘Dawn’ reported on the 11th, Imran Khan attended…

Why has the rupee suddenly fallen? The rupee plunged against the dollar in interbank trading on Friday morning, hitting an all-time high of 144 rupees to the dollar in intraday trading. The national bank of Pakistan intervened to stabilize the exchange rate at 137.7 rupees, Dawn reported. The sources said, the sudden devaluation was based on the government’s commitment to the IMF. The IMF has asked the government to set the rupee at 145 to the dollar and set the interest rate at 10.5 percent as a precondition for the rescue package.The plunge suggests that the government is complying with…

The road to civilization for the future—–One Belt One Road. As the flagship project of the “One Belt And One Road” project, since its implementation in 2015, the China-Pakistan economic corridor (CPEC) has achieved a series of major achievements in transportation infrastructure, energy and other fields, created a large number of jobs for Pakistan and played an important role in the common development of the two countries. Beijing, March 13, Pakistan’s ambassador, Masood Khalid to China, said in an exclusive interview with Xinhua that the impact of the One Belt and One Road initiative on the world is impressive.What opportunities…