I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
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The Brief and informative presentation about Pakistan Economic Issue and its solution
so The audience can easily understood to this presentation and can easily take the point of view of pakistan economy and the problems and their solutions
and also the Eras are included from sense the Independence of pakistan
The Brief and informative presentation about Pakistan Economic Issue and its solution
so The audience can easily understood to this presentation and can easily take the point of view of pakistan economy and the problems and their solutions
and also the Eras are included from sense the Independence of pakistan
Impact of IMF loan on Pakistan's economy: In long run and short runAyesha Majid
To keep the balance of payments in check and to meet the financial obligations government of Pakistan has signed 13th bailout with IMF. This bailout has laid several conditions on the Pakistani government including those on taxes and subsidies, government spending, interest rate, foreign exchange rate and Pakistan's borrowing from China.
Whether the program turns to be beneficial or detrimental for the economy depends how the public responds to the measures and how thoughtfully the government implements it.
This Pakistan Studies presentation is created by the students of C@SE Islamabad and it gives an overview of the economic issues of the Islamic Republic of Pakistan
Economy of Pakistan and Challenges by Zeeshan Raza Zeeshan Raza
It is about the Economy of Pakistan. including initial challenges and contemporary challenges. Also the five-year Economic plans of different phases and eras. my friend Munawar Hussain helped me a lot in making this PPT, his major contribution to it.
Agricultural Pricing Policy of PakistanUltraspectra
About Us:
UltraSpectra is a full-service online company dedicated to providing the services of internet marketing and
IT solutions to professionals and businesses looking to fully leverage the internet.
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Advantages and disadvantes of foreign aid to developmentBaseera Hashmi
There is no doubt that today’s world is more affluent and has more advanced technology than ever before ,however, there are famine, pollution, water shortages and development problems in dozens of countries. In that case, many countries and organizations are supplying aid and supporting undeveloped countries. Ordinary people who live in rich countries also have greater awareness of helping their infrastructural development. Food, technological, educational aids have become an accepted policy of advanced countries to assist in furthering the development of the human and material resources of poor countries.
Unfortunately, problems were misdiagnosed or not foreseen. It is no good taking over the aid of foreign countries uncritically. Moreover, foreign aid would make undeveloped countries lose their economy, market and other area’s independence. At the same time, as a kind of political exchange, undeveloped countries have to obey new rules which created by developed countries and further to be vassal states again. Nowadays, most countries in the world have not finished the progress of being industrialized.
Impact of IMF loan on Pakistan's economy: In long run and short runAyesha Majid
To keep the balance of payments in check and to meet the financial obligations government of Pakistan has signed 13th bailout with IMF. This bailout has laid several conditions on the Pakistani government including those on taxes and subsidies, government spending, interest rate, foreign exchange rate and Pakistan's borrowing from China.
Whether the program turns to be beneficial or detrimental for the economy depends how the public responds to the measures and how thoughtfully the government implements it.
This Pakistan Studies presentation is created by the students of C@SE Islamabad and it gives an overview of the economic issues of the Islamic Republic of Pakistan
Economy of Pakistan and Challenges by Zeeshan Raza Zeeshan Raza
It is about the Economy of Pakistan. including initial challenges and contemporary challenges. Also the five-year Economic plans of different phases and eras. my friend Munawar Hussain helped me a lot in making this PPT, his major contribution to it.
Agricultural Pricing Policy of PakistanUltraspectra
About Us:
UltraSpectra is a full-service online company dedicated to providing the services of internet marketing and
IT solutions to professionals and businesses looking to fully leverage the internet.
http://www.ultraspectra.com
http://www.ultraspectra.net
Join Our Network:
facebook.com/ultraspectra
twitter.com/ultraspectra
youtube.com/user/ultraspecra
Advantages and disadvantes of foreign aid to developmentBaseera Hashmi
There is no doubt that today’s world is more affluent and has more advanced technology than ever before ,however, there are famine, pollution, water shortages and development problems in dozens of countries. In that case, many countries and organizations are supplying aid and supporting undeveloped countries. Ordinary people who live in rich countries also have greater awareness of helping their infrastructural development. Food, technological, educational aids have become an accepted policy of advanced countries to assist in furthering the development of the human and material resources of poor countries.
Unfortunately, problems were misdiagnosed or not foreseen. It is no good taking over the aid of foreign countries uncritically. Moreover, foreign aid would make undeveloped countries lose their economy, market and other area’s independence. At the same time, as a kind of political exchange, undeveloped countries have to obey new rules which created by developed countries and further to be vassal states again. Nowadays, most countries in the world have not finished the progress of being industrialized.
5 year plans of pakistan by brands academyBrands Academy
Brand Academy provides details brand analysis, research, article and insights for free.
Contact us :
brandsmentor@gmail.com
https://www.facebook.com/1stbrandsacademy
Pakistan Five Year Development PlansSince 1955 to 2010An Overview
Introduction
Almost all five-year plans prepared during political or military regimes were shelved in the country’s history after regime change and none of them succeeded in getting the desired results.
Pakistan has a semi-industrialized economy, which mainly encompasses textiles, chemicals, food processing, agriculture and other industries.
The economy has suffered in the past from decades of internal political
disputes, a fast growing population and ongoing confrontation with
neighboring India.
Pakistan's average economic growth rate since independence has been higher than the average growth rate of the world economy during the period.
Average annual real GDP growth rates were 6.8% in the 1960s, 4.8% in the 1970s, and 6.5% in the 1980s. Average annual growth fell to 4.6% in the 1990s with significantly lower growth in the second half of that decade.
Introduction
Two wars with India, in Second Kashmir War 1965 and Bangladesh Liberation War 1971 and separation of Bangladesh adversely affected economic growth. In particular, the latter war brought the economy close to recession, although economic output rebounded sharply until the nationalizations of the mid-1970s.
Pakistan is aggressively cutting tariffs and assisting exports by improving ports, roads, electricity supplies and irrigation projects. Islamabad has doubled development spending from about 2% of GDP in the 1990s to 4% in 2003, a necessary step towards reversing the broad underdevelopment of its social sector.
First Five Year Plan (1955-1960) Highlights
Targets
Emphasis mainly on achieving high national income.
The First Plan was implemented within certain obvious handicaps and limitations and its release was delayed by two Years.
In practice, this plan was not implemented, however, mainly because political instability led to a neglect of economic policy, but government, Deputy Chairman Planning Board (Commission) Said Hassan announces the plan in 1957.
The development expenditures were regarded as the foundation for rapid progress in the future and plans explicitly affirmed that some sectors of the economy must be expanded much more rapidly than others in order to secure maximum gains.
The size of the First Plan initially was Rs. 11.5 billion which was revised and decreased to 10.8 billion out of which Rs. 750 million for the public sector and Rs. 3.3 billion for the private sector was allocated. Of the total plan amount of Rs. 6.6 billion from the internal sources and R.s 4.2 billion was to be achieve from the foreign sources in the form of loans and aid.
First Five Year Plan (1955-1960) Highlights
Achievements/Failure
In this report the topics are:
Introduction, An Overview
Challenges to Economy of Pakistan are War on terror, We consume more and save less, Poor academic set-up, Energy crisis, Inadequate exports, Inflation, Lack of tourism, Government spends more than it earns as revenues, Our share in the world trade is shrinking, Corruption, Kashmir issue, We badly lag in social indicators, Trade, Investment failing, Political stability, law and order, Poor use of natural resources, Poverty, We face energy and water shortages, Poor governance, Uncertainty and unpredictability due to lack of continuity
And Recommendations and solutions are:
To Improve Economy, Technology, Taxation, Governance, devolution and decentralization, Energy crisis, Private sector, Government should utilize the resources well, Stakeholders in the Pakistani, Possible solutions of Energy Crisis in Pakistan, Impacts of law and order situation on economy, Natural resources, Lack of tourism, Illiteracy, Change in national psyche and mind set, Inflation, Low export and high Import, Technology, Energy solutions and climate change, Conclusion, Bibliography.
Public debt is intended to bridge the gap between domestic savings and investment. This paper examines the effect of public debt on economic growth in Bangladesh using autoregressive distributed lag bound testing approach to cointegration. It finds a negative relationship between public debt and economic growth both in the short-run and the long-run. That is, a significant rise in the public debt in Bangladesh appears to be a burden for the economic growth controlling for other determinants of growth. The findings suggest that funds obtained through public debt are not utilized in the productive economic avenues which may improve the growth scenario in Bangladesh. Also, the adverse effect exerted by public debt may further be responsible for a reduction in investment and slower growth of capital stock, which eventually can hamper the labour productivity growth in the country in long run.
The Reserve Bank of India (RBI) is responsible for managing India's public debt, especially debt denominated in the domestic currency. The management of the central government's debt is conducted by RBI under statutory provisions that oblige the central government to delegate its debt management to the RBI.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
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Email: arguni.hasnain@gmail.com
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
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Instagram : arguni.hasnain
Facebook: arguni.hasnain
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
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Facebook: arguni.hasnain
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. What is debt?
• An amount of money borrowed by one party from another.
Many corporations/individuals use debt as a method for
making large purchases that they could not afford under
normal circumstances. A debt arrangement gives the
borrowing party permission to borrow money under the
condition that it is to be paid back at a later date, usually with
interest.
3. What is debt management?
• A debt management plan is a formal agreement between a
debtor and creditor(s). Debt Management Plans help reduce
outstanding, unsecured debts at a reduced level over a fixed
period of time to help regain control of finances.
• Debt - not a bad thing as long as it is used efficiently to
generate enough resources to boost long term economic
growth.
4. Debt Management
• Mismanaged and persistent high debt also severely impacts
the resource allocation by diverting resources from social and
public services toward debt servicing.
• The current report analyzes the issues of debt management in
Pakistan through detailed analysis of profile of debt (public,
domestic, and external) and debt burden indicators.
• In depth analysis of debt management, its weaknesses,
consequences and how it can be improved.
6. PUBLIC DEBT
• “The quantum of debt denominated in rupees as well as in foreign
currency, owed directly by the government.”
• The portion of total debt which has a direct charge on government
revenues is taken as public debt.
• Public debt is a measure of government indebtedness. It includes
debt denominated in rupee as well as foreign currency. Public debt
comprises of domestic and external debt. Each of these types of
debt has its own benefits and drawbacks, with a trade-off between
costs of borrowing and exposure to various types of risks that needs
to be balanced in order to ensure ample and timely access to cost
efficient funding.
7. • debt is a charge on budget and must be serviced
through government revenues and/or additional
borrowings whereas external debt (both public and
private), in addition to charge on revenues, is also a
charge on balance of payment and must be
serviced from foreign exchange earnings, reserve
drawdown, and additional borrowings. Therefore,
the two should be managed separately to ensure
fiscal and external account solvency.
•
•
•
8. • As at end-March 2013, public debt reached at Rs.13,626 billion, an
increase of Rs.959 billion or 8 percent higher than the debt stock at
the end of last fiscal year. Public debt as a percent of GDP reached
at 59.5 percent of GDP by end-March 2013 compared to 59.8
percent during the same period last year. The primary source of
increase in public debt during July-March, 2012-13 was increase in
domestic debt that positioned at Rs.8,796 billion represented an
increase of Rs.1,159 billion, whereas, external debt posed at
Rs.4,831 billion represented a decrease of Rs.200 billion as
compared to end-June 2012. The decline in external debt during
July-March, 2012-2013 is mainly attributed to repayments against
IMF loans, translational gain on account of US Dollar appreciation
against other major currencies and marginal fresh disbursements.
10. DOMESTIC DEBT
• Domestic debt has always been fundamental part of a
government’s borrowing strategy. Government borrowing through
domestic sources is vital in stimulating investment and private
savings, as well as strengthening domestic financial markets, since it
provides depth and liquidity to the markets. On the downside,
though, a broad expansion in domestic debt poses significant
negative connotations for private investment, fiscal sustainability
and ultimately economic growth and poverty reduction in case of
thin financial markets and poor debt management capacity.
Pakistan’s domestic debt comprises permanent debt (medium and
long-term), floating debt (short-term) and unfunded debt (made up
of the various instruments available under the National Savings
Scheme).
11. • ).The composition of major components shaping the domestic debt
portfolio has undergone a transformation from a high dominance of
unfunded debt to an increasing dependence on floating component
of the domestic debt. The unfunded category comprising about 45
percent of the aggregate domestic debt stock in 2001-02 has
declined to 23 percent by end-March, 2013.
• Contrary to this, the share of floating debt to total domestic debt
has reached 54 percent by end-March, 2013 as compared with 31
percent in 2001-02 indicating an over reliance on shorter duration
instruments. The growing share of floating debt in total domestic
debt in recent years has meant an inordinate reliance on the
shorter end of the sovereign yield curve.
12. OUTSTANDING DEBT
• The total domestic debt was positioned at Rs.8,796 billion at end-
March 2013, represented an increase of Rs.1,159 billion in the first
nine months of the current fiscal year. This increase stems from net
issuance of market debt namely Treasury Bills (Rs.528 billion),
Special Savings Certificate and Accounts (Rs.159 billion), Pakistan
Investment Bonds (Rs.144 billion), Market Related Treasury Bills
(Rs.105 billion) and Ijara Sukuk (Rs.76 billion). In relation to GDP, the
domestic debt stood at 38.4 percent which is higher than end-June
2011 level at 38 percent. The domestic debt grew by 15 percent in
first nine months of current fiscal year. The focus on deficit
financing through internal sources owing to lower external receipts
has been the major cause.
14. •
• There are following three kinds of domestic debt.
• Permanent debt
• Floating Debt
• Unfunded Debt
15. Permanent debt
• Permanent debt:
• Permanent Debt mainly consists of medium to long term instruments
including Pakistan Investment Bonds (PIBs), Government Ijara Sukuk bond,
Prize Bond etc. PIBs are non-callable instruments, with fixed and semi-
annual coupon payment. PIBs are issued in tenors of 3, 5, 10 and 20 years
maturity. The 3, 5 and 10 years tenor are most liquid. Government Ijara
Sukuk are medium term Shariah compliant bonds currently issued in 3
years tenor. The purpose of issuance was to raise money from Islamic
banking which has grown substantially in Pakistan in recent years. The
total share of permanent debt in the government’s domestic debt stood at
Rs.1,957 billion as at end-March 2013, an increase of Rs.260 billion or 15
percent higher than the stock at the end of last fiscal year. Sizeable
receipts from Pakistan Investment Bond (Rs.144 billion) and Government
Ijara Sukuk (Rs.76 billion) majorly contributed to this expansion.
16. FLOATING DEBT
•
• Floating debt consists of short term domestic borrowing instruments such
as Treasury Bills and State Bank borrowing through the purchase of
Market Related Treasury Bills (MRTBs). Treasury Bills are zero coupon or
discounted instruments issued in tenors of 3 months (introduced in 1997),
6 months (introduced in 1990) and 12 months (introduced in 1997). The
share of 3 months, 6 months and 12 months maturity in total Treasury
Bills portfolio is 17 percent, 39 percent and 44 percent respectively as at
end-March 2013. In order to raise short term liquidity, the government
borrows from the domestic banks through auction in the form of Treasury
Bills. The auction of Treasury bills is arranged by the State Bank of Pakistan
(SBP) twice a month. Floating Debt share in overall public debt and
domestic debt stood at 35 percent and 54 percent respectively as at end
March 2013. During July- March, 2012-13, the floating debt grew by
Rs.633 billion or 15 percent. Around 55 percent of the total increase in
government domestic debt stock was contributed by floating debt
instruments during July-March, 2012-13
17. UNFUNDED DEBT
• Unfunded Debt made up of the various instruments available under the
National Savings Scheme (NSS). A number of different schemes are offered
under NSS in the investment horizon of 3 years to 10 years. The total share
of unfunded debt in the government’s domestic debt stood at Rs.2,064
billion or 23 percent at end-March, 2013. The stock of unfunded debt
increased by Rs.266 billion compared with last fiscal year. Net receipts in
Special Savings Certificate and Accounts were up by 29 percent during
July-March, 2012-13, as the stock increased from Rs.537 billion in June,
2012 to Rs.696 billion at end-March 2013. Special NSS Schemes including
Bahbood Savings Certificates and Pensioner’s Benefits Accounts registered
a combined increase of Rs.51 billion. National Savings Scheme plays an
important role in mobilizing retail savings in the economy. Over past few
years, government took various measures to rationalize the National
Savings Schemes
18. PAK EXTERNAL DEBT
• Pakistan’s external debt and liabilities (EDL) include all foreign currency
debt contracted by the public and private sector, as well as foreign
exchange liabilities of the State Bank. There is an inherent capital loss
associated with the debt denominated in foreign currency; however, it is
mitigated by the strong concessionality element (low cost and long
tenors). The impact of any currency shock should not be looked at in
isolation, but rather be analyzed in the context of interest rate differential.
As on March 31, 2013, EDL has been dominated by Public and Publically
Guaranteed Debt having share of 73 percent owing to current account
deficit which is financed through loans from multilateral and bilateral
donors. Debt obligations of the private sector are fairly limited and have
been a minor proportion of EDL (5 percent). Borrowing from IMF
contributed 9 percent in EDL Stock as compared with 11 percent at the
end of 2011-12 owing to hefty repayments during first nine months of
current fiscal year.
23. RESTRICTION ON PAK STATE AGAINST FOREIGN DEBT
• According to data released by the State Bank of Pakistan, the
government’s public debt stood at approximately Rs10.9 trillion as
of June 30, 2011, which is equal to 60.1% of the total size of the
economy. The legal limit, according to the Fiscal Responsibility and
Debt Limitation Act of 2005, is 60% of the gross domestic product
(GDP).
• Global financial institutions, including the IMF, have repeatedly
called on the government for clearer accounting of its total
liabilities as well as a plan to ultimately reduce both the debt and
the deficit
24. • Under the 2005 Fiscal Responsibility and Debt Limitation Act, the
government’s public debt must not exceed 60% of GDP by the end
of the fiscal year 2013. However, the government was able to
achieve this target seven years early by the end of fiscal year 2006,
due to exceptionally strong economic growth under the Musharraf
administration.
• The State Bank’s figures go beyond just the government’s debt and
include its other liabilities. If those numbers are added in, the
government’s total liabilities were just shy of Rs12 trillion at the
close of fiscal year 2011, or about 66.4% of GDP.