DOCSLIB.ORG

SAFA Conference 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SAFA Conference 2016 The Pakistan Jan - Mar 2016 Magazine of The Institute of Chartered Accountants of Pakistan Special Coverage: SAFA Conference 2016 January - March 2016 The Pakistan Accountant 1 Signature Qualification CA that Empowers to Lead PAKISTAN The Pakistan contents Jan - Mar 2016 The Council Editor’s Letter Magazine of The Institute of Chartered Accountants of Pakistan President Hafiz Mohammad Yousaf, FCA 4 Yacoob Suttar Vice Presidents Hidayat Ali, FCA Nadeem Yousuf Adil, FCA President’s Page Members Farrukh Rehman, FCA 5 Hafiz Mohammad Yousaf Khalilullah Shaikh, ACA M. Sharif Tabani, FCA Special Coverage: SAFA Conference 2016 Mohammad Maqbool, FCA Naeem Akhtar Sheikh, FCA Cover Story Nazir Ahmad Chaudhri, FCA Rashid Ibrahim, FCA Riaz A. Rehman Chamdia, FCA Changing South Asia: Challenges Sarmad Ahmad Khan, FCA 6 and Opportunities Syed Najmul Hussain, FCA Usman Ghani Akbani, FCA Muhammad Sadiq Ismail Yacoob Suttar, FCA Government Nominees Dr. Waqar Masood Khan Mohammad Abdullah Yusuf, FCA Muhammad Zafar-Ul-Haq Hijazi Tariq Bajwa Publications Committee Chairman Yacoob Suttar, FCA Members Aamir Waheed Ahmed, FCA Abdul Qadir, ACA Ammara Ahmad, ACA Fariha Wajid, ACA Hina Shamsi, ACA South Asia Contributes to World Muhammad Amir Afzal Rana, ACA Naseer Ahmed, ACA 14 Development Obaid-Ur-Rehman, ACA Syed Imtiaz Abbas Hussain Waqas Latif, ACA COO/Secretary Feroz Rizvi, FCA 16 Pakistan: Executive Director Masood Akhtar, FCA Centre of Opportunities Adnan Akhtar Editorial Team Senior Manager Samina Iqbal Publication [email protected] Publication Asad Shahzad Co-Ordinators [email protected] Afshan Aleem [email protected] South Asia: Corridor of Editorial Office: Chartered Accountants Avenue 18 Clifton, Karachi-75600 (Pakistan). Opportunities Ph: 99251648, 99251636-39 Aqeel Ahmed Email: [email protected] Website: www.icap.org.pk The views expressed are those of the writers and do not reflect The Institute of Chartered Accountants of Pakistan. All submissions received will be edited for clarity and space. 2 The Pakistan Accountant January - March 2016 Special Coverage Taxation Tax Administration Reforms Lahore, January 29-30, 2016 67 Naeem Akhtar Sheikh Administration SAFA Reforms Conference 2016 South Asia: Corridor of Opportunities World Water Day – March 22 Samina Iqbal The Complexity 72 and Urgency of Water: Time for The SAFA Story 23 the Accountancy Profession to 36 Picture Gallery Step Up The Risks & Feedback 77 Opportunities 40 Posed by Water Can’t Be Ignored SAFA BPA Awards – by Businesses, 46 Industries, or Nations 50 Musical Evening Dr. Dorothy Maxwell 54 Golf Tournament IFRS IFRS 15: Affects on Telecom 82 Sector Ahmed Khan Join the Discourse Study Tips Teamwork: Mandatory 60 for a successful 86 Why Didn’t organisation? I Study? Faran Ahmed January - March 2016 The Pakistan Accountant 3 Signature Qualification CA that Empowers to Lead PAKISTAN Editor’s Letter South Asia’s diversity provides huge opportunities for trade, investment, and economic growth. The region’s remarkable success in recent decades shows its economies have flourished, becoming more closely intertwined with each other and with the rest of the world. South Asia now plays an increasingly important role in the global economy. In the growth and development of the South Asian region, the accounting profession, perhaps with one of the largest memberships in the world, is playing a dynamic role in ensuring stability and sustainability of regional cooperation and growth. Over the years, The Institute of Chartered Accountants of Pakistan (ICAP) has exemplified as a key participant in developing the profession nationally and internationally: through its membership, at the regional and global levels in bodies like South Asian Federation of Accountants (SAFA), Confederation of Asian and Pacific Accountants (CAPA), International Federation of Accountants (IFAC) and others. This year’s SAFA Conference 2016 and SAFA Best Presented Annual Report Awards (BPA) 2014 ceremony is a further proof of ICAP’s commitment and dedication to the development of high quality corporate reporting for a successful and sustainable corporate sector in the region. The seeds of tomorrow are being sown today. Today’s accounting professionals tend to point to current trends which show no signs of losing momentum. One of those trends is towards more decision-making and strategic roles for accountants. People with accountancy training will increasingly be asked to help craft corporate strategy. In a static environment, accountants can focus more on tracking tools. In an environment of rapid change, they are called upon to evaluate different business models, new opportunities, and the quality of the information coming in, because there is a vast amount of information out there. The global economic landscape has changed dramatically. The main drivers of this change have been technology, trade liberalisation, freer capital movements, advances in communication and transportation infrastructure and creation of cross border supply chains. The center of gravity of the world economy has shifted east with the emerging economies growing at a much faster pace than the developed economies. All roads are same, every corridor is unique. The regional integration through economic corridor like China Pakistan Economic Corridor (CPEC) is a fusion of multiple developments in the global, regional, bilateral and domestic contexts. The ultimate objective of which is peace, prosperity and well-being of the people of the two countries, the region and the world. Yacoob Suttar 4 The Pakistan Accountant January - March 2016 President’s Page Regional corridors play a cardinal role in fostering regional integration and development, and the government has been supporting the development of regional transit corridors in the country through various projects. To capture the full benefits of regional corridors in South Asia, two aspects should be considered. First, are questions of poverty and social dynamics: all relevant projects must honour these realities and cater to the needs of the inhabitants of areas surrounding established and designated corridors. Second, corridors must be viewed as engines of regional development in themselves and not only as conduits to growth and regional integration. This vision can be realised by the economic corridor development process outlined in the two day SAFA Conference on January 29-30, 2016 organised by ICAP. The government’s support for corridors aims to stimulate intra-regional and global trade and foster market integration. For some land-locked countries, the corridors are a new opportunity to participate in global trade. In line with the principles of the government’s Regional Integration Strategy, the approach to regional corridors covers both the hard and the soft infrastructure components of development. This encompasses trade facilitation measures and trade capacity - building programs. It also provides for the cross-cutting issues of economic, social and environmental sustainability. All these developments are having deep impact on business and economic activities. The accounting profession is facing formidable challenges in the emerging business dynamics. The accountants, therefore, must remain vigilant and keep adjusting to the changing business scenarios to maintain the relevance and effectiveness of their profession. I am glad that the thought sharing on the Conference generated useful insight and both the accounting profession and professionals gained a lot from this intellectual exercise. Pakistan is in dire need for improving relations among all South Asian countries to attain regional integration. Pakistan is persuading China's One Belt, One Road project, as the China Pakistan Economic Corridor (CPEC) is one of the components of this mega project that would connect South Asia with Central Asia and Europe, and that regional integration is creating much more opportunities for the development and prosperity of the people of the entire region. Multifaceted challenges are in the offing to be tackled by the business executives, planners and technocrats. Accountants are no exceptions. Fast changing global business and technological environments demand professionals to become proactive and trouble shooters. To survive in this century, we must change our outlook, perception, methodology and processes. In view of such challenges, I am proud that the theme of the Conference South Asia: Corridor of Opportunities was rightly selected to address the appropriate issues of the 21st century and this issue also covers through a series of articles, the key conditions for transforming corridors into economic corridors, and associated constraints. Hafiz Mohammad Yousaf January - March 2016 The Pakistan Accountant 5 Signature Qualification CA that Empowers to Lead PAKISTAN Cover Story Changing South Asia: Challenges and Opportunities by Muhammad Sadiq Ismail 6 The Pakistan Accountant January - March 2016 his article has been written covering the relevant internal dynamics, trends, relationships, and scenarios in South Asian Counties offering various opportunities and related Tchallenges. The thoughts shared are carried from various internal research papers of the World Bank Group (WBG), (International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of Investment Disputes (ICSID)), personal analysis,
Load more

Recommended publications
  • Governance Structure of the State Bank of Pakistan
    Governance Structure of the State Bank of Pakistan The State Bank of Pakistan (SBP) is incorporated under the State Bank of Pakistan Act, 1956, which gives the Bank the authority to function as the central bank of the country. The Act mandates the Bank to regulate the monetary and credit system of Pakistan and to foster its growth in the best national interest with a view to securing monetary stability and fuller utilization of the country’s productive resources. Central Board of Directors The State Bank of Pakistan is governed by an independent Board of Directors, which is responsible for the general superintendence and direction of the affairs of the Bank. The Board is chaired by the Governor SBP and comprises of 8 non-executive Directors and Secretary Finance to the Federal Government. The Governor SBP is also the Chief Executive Officer of the Bank and manages the affairs of the Bank on behalf of the Central Board. The SBP Act, 1956 (as amended) stipulates that the Board members should be eminent professionals from the fields of economics, finance, banking and accountancy and shall have no conflict of interest with the business of the Bank. During FY13, all 7 vacant positions on the Board were filled through appointment of Directors by the Federal Government. Out of these 7 newly appointed Directors, 5 were appointed on February 26, 2013 followed by 2 appointments in March, 2013. Brief profile of the members of the Board is given on pages 9-10. The current composition of the Board brings a diverse range of professional expertise, adding value to the deliberations.
    [Show full text]
  • Current Affairs July 2018
    July 2018 Current Affairs Latest Current Affairs Articles from July 2018 Pakistan (17 Articles) Pakistan & World (5 Articles) World (21 Articles) Economy (9 Articles) Education (5 Articles) Compiled By Shahbaz Shakeel www.thecsspoint.com DOWNLOAD CSS Notes, Books, MCQs, Magazines www.thecsspoint.com Download CSS Notes Download CSS Books Download CSS Magazines Download CSS MCQs Download CSS Past Papers The CSS Point, Pakistan’s The Best Online FREE Web source for All CSS Aspirants. Email: [email protected] BUY CSS / PMS / NTS & GENERAL KNOWLEDGE BOOKS ONLINE CASH ON DELIVERY ALL OVER PAKISTAN Visit Now: WWW.CSSBOOKS.NET For Oder & Inquiry Call/SMS/WhatsApp 0333 6042057 – 0726 540316 CSS Solved Compulsory Papers Guide Latest 2018 Edition By Dogar Brothers Fully Solved Papers from 2011 to 2018 Call/SMS 03336042057 CSS Solved Compulsory MCQs 2005 to 2018 Updated Call/SMS 03336042057 Politics Among Nations: The Struggle for Power & Peace By Hans Morgenthau July 2018 Table of Contents PAKISTAN Water Crisis: Treading Carefully | Editorial ................................................................................................ 10 NSG Expansion And The Indo-Pak Angle By Ali Raza .................................................................................. 12 A Pak-Afghan Water Treaty? By Mashhood Hassan Azam Awan ............................................................... 15 India’s Diplomatic Dilemma in SCO By Muhammad Asif Noor ................................................................... 18 Key Challenges
    [Show full text]
  • Complete Annual Report 2005
    Contents Vision 02 Mission 02 Core Values 03 Corporate Information 04 Financial Highlights - 2005 07 Six Year Performance at a Glance 08 Board of Directors 10 Senior Management 11 Notice of 57th Annual General Meeting 12 Statement Under Section 160 of The Companies Ordinance, 1984 14 Directors’ Report 16 Statement of Compliance with Code of Corporate Governance 21 Auditors’ Review Report to the Members 23 Auditors’ Report to the Members 24 Financial Statements - 2005 Balance Sheet 26 Profit & Loss Account 27 Cash Flow Statement 28 Statement of Changes in Equity 29 Notes to the Financial Statements 30 Pattern of Shareholding 84 Categories of Shareholders 86 Head Office Management 88 Domestic Operations 96 Overseas Operations 106 Form of Proxy We’re Expanding horizons, reaching out, being there, bringing something for Everyone Our vision is that we want to be the pre-eminent financial institution in Pakistan and achieve market recognition both in quality and delivery of service as well as the range of product offering. Our mission to be recognized in the market place by institutionalizing a merit and performance culture, creating a powerful and distinctive brand identity, achieving top-tier financial performance, and adopting and living out our core values. & following values to deliver to you. We aim to be an organization that is founded on: Growth through creation of sustainable relationships with our customers Prudence to guide our business conduct A national presence with a history of contribution to our communities We shall work to: Meet expectations through market-based solutions and products Reward entrepreneurial efforts Create value for all our stakeholders We aim to be people who: Care about relationships Lead through the strength of our commitment and willingness to excel Practice integrity, honesty and hard work.
    [Show full text]
  • World Bank Document
    The World Bank 1818 H Street N.W. (202) 477-1234 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washington, D.C. 20433 Cable Address: INTBAFRAD INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVAS CONFORMED COPY July 11, 2003 Public Disclosure Authorized Dr. Waqar Masood Khan Secretary Economic Affairs Division Ministry of Finance and Economic Affairs Government of Pakistan Islamabad, Pakistan Re: Banking Sector Restructuring and Privatization Project: Cr.3571-PAK Amendment of Development Credit Agreement Dear Dr. Khan: Public Disclosure Authorized We refer to the Development Credit Agreement (DCA) between the Islamic Republic of Pakistan (the Borrower) and the International Development Association (the Association) dated October 24, 2001, for the above-referenced Project. We also refer to the letter dated March 27, 2003, from Mr. M.Tahsin Khan Iqbal, Additional Finance Secretary (Banking), Finance Division, Ministry of Finance & Economic Affairs, requesting the Association to include Allied Bank Limited (ABL) in the Project, which had been privatized but subsequently intervened by the State Bank of Pakistan (SBP) due to its financial and governance problems, and the letter dated May 9, 2003, from Ms. Nazrat Bashir, Joint Secretary (IF), Finance Division, Ministry of Finance & Economic Affairs, requesting the Association to amend the DCA to allow National Bank of Pakistan (NBP) to hire temporary workers as approved by its Board of Directors. The Association, after due consideration, has decided to accede to said
    [Show full text]
  • Annual Report 2006
    Contents Vision 02 Mission 03 Core Values 04 Goals 05 Corporate Information 06 Financial Highlights - 2006 07 Six Year Performance at a Glance 08 Board of Directors 10 Senior Management 11 Notice of 58th Annual General Meeting 14 Statement under section 160 of the Companies Ordinance, 1984 16 Directors’ Report 19 Statement of compliance with code of Corporate Governance 28 Auditors’ Review Report to the Members on Statement of Compliance with Code of Corporate Governance 30 Auditors’ Report to the Members 31 Financial Statements - 2006 33 Consolidated Financial Statements of NBP and its Subsidiary Companies-2006 109 Pattern of Shareholding 191 Categories of Shareholders 195 Head Office Management 197 Domestic Operations 206 Overseas Operations 219 Form of Proxy Vision To be recognised as a leader and a brand synonymous with trust, highest standards of service quality, international best practices and social responsibility. Mission NBP will aspire to the values that make NBP truly the Nation’s Bank, by : Institutionalising a merit and performance culture. Creating a distinctive brand identity by providing the highest standards of services. Adopting the best international management practices. Maximizing stakeholders value. Discharging our responsibility as a good corporate citizen of Pakistan and in countries where we operate. Core Values Highest standards of Integrity. Institutionalising team work and performance culture. Excellence in service. Advancement of skills for tomorrow’s challenges. Awareness of social and community responsibility. Value creation for all stakeholders. Goals To enhance profitability and maximization of NBP share through increasing leverage of existing customer base and diversified range of products. Board of Directors Syed Ali Raza Chairman & President Dr.
    [Show full text]
  • Jan-Mar-2010.Pdf
    J A N - M A THE PAKISTAN R 2 0 1 0 ACCOUNTANTMagazine of The Institute of Chartered Accountants of Pakistan SPECIALSPECIAL ISSUEISSUE CONTENTS PAGE# PAGE# SPECIAL ISSUE Open Budget CHALLENGE FOR Survey Finds Volume 44 Issue 1 January-March 2010 CHANGE 8 Weaknesses in Bu3dget 6 Transparency in South Asia Publications Committee Chairman and Chief Editor Adnan Zaman Members Abdul Rashid Abdul Wahid Adnan Ahmad Mufti Aijaz Ahmed Altaf Noor Ali Asad Feroze Heena Irfan Ahmed PAGE# Jehan Zeb Amin PAGE# M. Amir Afzal Rana Muhammad Rehan Razzak Mutee-ur-Rehman Mirza Omer Mustafa Ansari Raheel Abbas Rizvi Alternative Taxa - 47 Advisor Publications tion Measures for 30 Rana Mustansir Generation of Ad - The Council ditional Re - sources President Abdul Rahim Suriya, FCA Vice Presidents Mohammad Abdullah Yusuf, FCA Pervez Muslim, FCA The Illusion of Paper Money Members Adnan Zaman, FCA Ahmad Saeed, FCA EDITOR'S LETTER 6 Sustainability Ch. Nazir Ahmad Asad, FCA A. N. Raman, Vice President, SAFA 24 ARTICLES Hafiz Mohammad Yousaf, FCA PRESIDENT'S PAGE 7 Khalid Rahman, FCA Muhammad Ayub Khan Tarin Alternative Taxation Measures for 30 Nadeem Yousuf Adil, FCA COVER STORY Generation of Additional Resources Naeem Akhtar Sheikh, FCA CFO Conference June 3, 2010 - Islamabad Ashfaq Yousuf Tola, FCA Rafaqat Ullah Babar, FCA Challenge for Change Rashid Rahman Mir, FCA Full VAT in Pakistan: Not Applicable At All Salman Ali Shaikh S. Imtiaz Abbas Hussain, FCA 33 Conference Programme Shaikh Saqib Masood, FCA and Speakers Profiles 8 Sohail Ahmad Open Budget Survey
    [Show full text]
  • TAX, Expenditures, and DEBT
    JUNE VOLUME II - ISSUE VI 2021 PIDE P & R PIDE’s GUIDE TO POLICY & RESEARCH “The recurrent and development budgets “The recurrent and should be closely development budgets aligned.”should be closely aligned.” - Mr.- Mr. Muhammad Muhammad Jehanzeb, JehanzebDeputy Chairman, Deputy MoPDSI Chairman, MoPDSI “We are going to increase development expenditures significantly. If all goes well, you will see this will be a development budget." - Shaukat Tarin Minister for Finance and Revenue “We are going to increase development expenditures significantly. If all goes well, TAX, EXPENDITURES, you will see this will be a development budget.” AND DEBT: - Shaukat Tarin, TRICA OF BUDGET Minister for Finance and Revenue CHALLENGES PAKISTAN INSTITUTE OF DEVELOPMENT ECONOMICS PIDE P & R PIDE’s GUIDE TO POLICY & RESEARCH VOLUME II - ISSUE VI Pakistan Institute of Development Economics (PIDE) (i) June 2021 PIDE Policy & Research is a guide to policy making and research. Each issue focuses on a particular theme, but also provides a general insight into the Pakistani economy, identifies key areas of concern for policymakers, and suggests policy action. The publication offers a quick orbit of the country’s economy and is a hands-on and precise go-to document for the policymaker, businessperson, academic, researcher, or student who seeks to remain updated and informed. This issue is themed around PIDE’s recent research efforts regarding the diagnostic of growth. We welcome contributions from within PIDE as well as from any external contributors. Disclaimer:
    [Show full text]
  • Current Affairs November 2018
    November 2018 Current Affairs Current Affairs Articles from November 2018 Pakistan (16 Articles) Pakistan & World (10 Articles) World (18 Articles) Economy (11 Articles) Education (6 Articles) Compiled By Shahbaz Shakeel www.thecsspoint.com DOWNLOAD CSS Notes, Books, MCQs, Magazines www.thecsspoint.com Download CSS Notes Download CSS Books Download CSS Magazines Download CSS MCQs Download CSS Past Papers The CSS Point, Pakistan’s The Best Online FREE Web source for All CSS Aspirants. Email: [email protected] BUY CSS / PMS / NTS & GENERAL KNOWLEDGE BOOKS ONLINE CASH ON DELIVERY ALL OVER PAKISTAN Visit Now: WWW.CSSBOOKS.NET For Oder & Inquiry Call/SMS/WhatsApp 0333 6042057 – 0726 540316 CSS Solved Compulsory MCQs 2005 to 2018 Updated Call/SMS 03336042057 Politics Among Nations: The Struggle for Power & Peace By Hans Morgenthau November 2018 Table of Contents PAKISTAN 1. Energy Sector — Getting House in Order By Dr M Asif ................................................................... 9 2. Pak Foreign Policy & Strategic Framework By Mahrukh A Mughal ............................................... 12 3. Checking Population Growth | Editorial ........................................................................................ 15 4. Water Woes, Challenges And Way Forward By Muhammad Bilal Abdul Ghani ............................ 16 5. Poverty Reduction Initiative | Editorial ......................................................................................... 21 6. 18th Amendment — A Gain For Democracy By Babar Ayaz
    [Show full text]
  • Annual Report 2010 – 2011
    ANNUAL REPORT 2010 – 2011 THE STATE OF PAKISTAN’S ECONOMY STATE BANK OF PAKISTAN CENTRAL BOARD OF DIRECTORS Mr. Yaseen Anwar Governor & Chairman Dr. Waqar Masood Khan Member Mr. Zaffar A. Khan Member Mirza Qamar Beg Member Mr. Asad Umar Member Mr. Waqar A. Malik Member Ms. Sahar Z. Babar Corporate Secretary LETTER OF TRANSMITTAL December 19, 2011 Dear Mr. Chairman, As required by Section 9A(f) of the State Bank of Pakistan Act, 1956, I am pleased to submit the Annual Report of the Central Board of Directors of the State Bank of Pakistan on the State of the Economy for the year 2010-11. Yours sincerely, Sd/- ( Yaseen Anwar ) Mr. Farooq H. Naek Chairman Senate ISLAMABAD LETTER OF TRANSMITTAL December 19, 2011 Dear Madam Speaker, As required by Section 9A(f) of the State Bank of Pakistan Act, 1956, I am pleased to submit the Annual Report of the Central Board of Directors of the State Bank of Pakistan on the State of the Economy for the year 2010-11. Yours sincerely, Sd/- ( Yaseen Anwar ) Dr. Fehmida Mirza Speaker National Assembly ISLAMABAD Contents Chapters 1. Economic Outlook 1.1 Overview 1 1.2 Global Economic Conditions 5 1.3 Looking Ahead 8 2. Aggregate Supply 2.1 Overview 13 2.2 Agriculture 14 2.3 Large-Scale Manufacturing 20 2.4 Services 24 3. Energy 3.1 Overview 31 3.2 Electricity 32 3.2.2 Circular Debt 36 3.3 Primary Energy Supplies 39 3.3.1 Hydropower 39 3.3.2 Crude Oil 40 3.3.3 Natural Gas 43 3.3.4 Coal 46 3.4 POL Products 47 4.
    [Show full text]
  • 'Ehsaas Vendor Support Group',Sania Assess
    PM inaugurates 3 important Ehsaas initiatives in GB April 30, 2021: Prime Minister Imran Khan during his visit to Gilgit Baltistan inaugurated the three major Ehsaas programmes in Gilgit Baltistan (GB). PM announced the provincewide roll out of Ehsaas Nashonuma, Ehsaas secondary education stipends and Ehsaas One Woman One Account initiatives across GB. So far, 8 Ehsaas Nashonuma centers have been opened in 3 districts of GB including Diamer, Astore and Kharmang. In collaboration with the provincial government of GB, a detailed roadmap has been developed to open Ehsaas Nashonuma Centers in every district of GB. Prime Minister’s “One Woman One Bank Account Initiative”, Ehsaas Bachat Account (saving account) for Ehsaas Kafalaat beneficiaries was also formally launched in Hunza Nagar district and would be scaled up later nationwide. While in Gilgit, PM also announced the first of its kind Ehsaas’ secondary education conditional cash transfer (CCT) programme for secondary school going children of deserving households. Ehsaas has already approved and budgeted for the expansion of the conditional cash transfer from the primary level to the secondary education level. The new secondary education CCT has been structured along the lines of Ehsaas Stipend policy that allocates higher stipend amount for girls as compared to boys. Dr. Sania Nishtar briefed the PM on the ongoing Ehsaas programmes and initiatives across GB. Dr. Sania convenes meeting of ‘Ehsaas Vendor Support Group’ Apr 29, 2021 – Islamabad: At the Poverty Alleviation and Social Safety Division (PASSD), Dr. Sania Nishtar presided a meeting of Ehsaas Vendor Support Group, to review the progress of ‘Ehsaas Rehri Baan’ initiative.
    [Show full text]
  • COVID-19 and Pakistan: the Economic Fallout
    JUNE 2020 COVID-19 and Pakistan: The Economic Fallout SUSHANT SAREEN COVID-19 and Pakistan: The Economic Fallout SUSHANT SAREEN ABOUT THE AUTHOR Sushant Sareen is a Senior Fellow at Observer Research Foundation. ISBN: 978-93-90159-15-4 © 2020 Observer Research Foundation. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission in writing from ORF. COVID-19 and Pakistan: The Economic Fallout ABSTRACT Pakistan has been one of the countries worst affected by COVID-19, with the economic disruption caused by the pandemic exacerbating an already existing crisis. This paper discusses how the public health crisis has affected some of the most critical sectors of the Pakistani economy. While the government has implemented some mitigation measures, they are inadequate to counter the impact of the pandemic. The paper analyses the likely fallout of a near-meltdown of Pakistan’s economy on the nation’s hybrid political system that is dominated by the military. Finally, it examines the possible impact of Pakistan’s economic crisis on its strategic environment and strategic alignments, especially its relations with India. Attribution: Sushant Sareen, “COVID-19 and Pakistan: The Economic Fallout,” ORF Occasional Paper No. 251, June 2020, Observer Research Foundation. ORF OCCASIONAL PAPER # 251 JUNE 2020 1 COVID-19 AND PAKISTAN: THE ECONOMIC FALLOUT I. INTRODUCTION Before the COVID-19 outbreak, Pakistan’s economy was struggling to stay afloat but was in no imminent danger of collapse.1 However, the pandemic has severely impacted the nation’s economy and virtually pushed it to the brink of bankruptcy.
    [Show full text]
  • The Role of Emerging Markets in the World Economy, Drawing on Her Invaluable Insights and Extensive Firsthand Experiences
    STATE BANK OF PAKISTAN Opening Address by the Governor SBP Seminar with Her Excellency Ms. Christine Lagarde, Managing Director IMF Emerging Markets in the World Economy” 24 th October 2016 • Her Excellency Madame Christine Lagarde, Managing Director IMF, • Hon’ble Senator Mohammad Ishaq Dar, Federal Minister for Finance, Revenue, Economic Affairs, Statistics, and Privatisation, • Esteemed Diplomats • Learned scholars from academia, • Heads and representatives of national and international financial institutions, • Government officials, • Friends of Media, • Distinguished Guests, Ladies and Gentlemen, I warmly welcome you all to this seminar! First, let us all greet Her Excellency Ms. Lagarde on her visit to Pakistan and thank her for gracing today’s seminar as the Keynote speaker. Armed with her remarkable credentials, Ms. Lagarde has not only led the IMF judiciously during a time of global economic and financial stress, but in fact it has been under her leadership that the IMF has forged successful collaborations with many emerging countries for their economic betterment. Most of these countries have now overcome their short-term external imbalances and adopted better standards of governance – and you can be sure they know exactly who to thank! Befittingly, we will request Ms. Lagarde to enlighten us today on the role of emerging markets in the world economy, drawing on her invaluable insights and extensive firsthand experiences. 1 STATE BANK OF PAKISTAN Ladies and Gentlemen, The relevance of the topic for Pakistan is high, as it is an emerging economy with a large population. When we observe the evolving global economy, it is evident that emerging markets face a unique set of challenges, but if managed well, the results have far reaching implications for growth.
    [Show full text]