Last Friday Narendra Modi fulfilled his key election campaign pledge: his finance minister presented the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 in the Indian Parliament. As the name suggests, the law is aimed at netting all the undisclosed income that Indian residents have parked outside of India. Observers say that when this bill becomes law, it will be the harshest such law in the world.
One of the major flaws in Pakistan's manufacturing industry has been its lack of emphasis on value addition. This is especially true for textile industry, where value addition remains weak with the emphasis being placed on raw cotton, cotton yarn, and cotton cloth. With falling cotton prices and lower demand in the global economy, its time that Pakistan's textile industry starts focusing more on value-added textile products like knitwear and garments.
With each passing month, it is increasingly becoming evident that this year’s private sector credit supply will be lower than the last. The latest central bank data says that loans to private businesses fell about 37 percent year-on-year in the first eight months of current fiscal year. Specifically, it dropped to Rs164 billion in 8MFY15 from Rs259 billion in the same period last year.
Things have started progressing steadily for the insurance sector and the regulator is playing its role really well in this regard. Latest in the series of such events is the increase in minimum paid-up capital requirements of insurance companies - indeed a crucial initiative towards the development of a strong industry.
Prevention is better than cure. In today’s world the use of digital technology is gaining traction in providing better healthcare and consumer care environment. Diagnosing a disease in early days and to mend it through better living style, or having knowledge of surroundings and even happenings within our body through digital devices of our daily use, are not only economical but also a wise way of living.
When Salma Jafri walked away from a promising career to take care of her baby, she knew she hadn’t given up on professional development, but wondered if she would get back in the ‘corporate race’. “I picked up a gig to develop marketing content for a company through an online freelancing platform and discovered the world of online marketing”, Salma told a roomful of people at a discussion organized by Intel Pakistan about, “Closing the gender technology gap”. Today she is thriving as a Google Business Groups team lead and content marketing consultant.
Foreign selling, a big Fund winding up, mutual funds selling, SECP notices and much more. This is what the market makers have told us of late, when asked about plausible reasons behind the current market slide. All of it could be true. But attractive earnings multiples, Pakistan’s improving economic indicators, higher investor confidence will soon be among reasons when the market starts picking up. And that could be very soon – as soon as the ongoing ICC Cricket World Cup comes to an end.