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E-BANKING IN PAKISTAN: CURRENT SCENARIO INSTITUTE OF BUSINESS ADMINISTRATION MIIS FIINAL PROJJECT E-BANKING IN PAKISTAN: CURRENT SCENARIO FINAL REPORT SUBMITTED
E-Banking In Pakistan: Current Scenario Overview of the Economy (Pakistan) Fiscal year 2007-08 has been a difficult year for Pakistan's economy. Several political
CLOTHING 16 Impact on World 17 MULTIFIBRE ARRANGEMENT (MFA) 1974-1994 18 Measures That Are Taken Post Mfa Scenario. 18 The new Textile Policy 2000 (NTxP-2000) 18
to avoid such dislocations (and the ultimate result of this would probably be the U.S. and the E.U. switching roles in the global economy)." Although the above scenario
factors of Risk ? 16 7. Risk Management ? 20 8. Analysis of Risk Management in Foreign Countries and Pakistan ? 24 9. Conclusion ? 29 10.Biblography ? 30 INTRODUCTION
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Overview of the Economy (Pakistan)
Fiscal year 2007-08 has been a difficult year for Pakistan’s economy. Several political and economic events, both on domestic and external front, occurred unexpectedly. These events include: disturbed political conditions; an unstable law and order situation; supply shocks; soaring oil, food and other commodity prices; softening of external demand; and turmoil in the international financial market. All these events have adversely affected the key macroeconomic fundamentals of Pakistan during the fiscal year 2007-08. The most important aspect, however, has been the non-responsive stance on account of political expediency in addressing domestic and external challenges during most part of the fiscal year, further accentuating macroeconomic difficulties.
Notwithstanding these extraordinary developments Pakistan’s economy posted a robust growth of 5.8 percent in 2007-08, as against 6.8 percent last year and this year’s target of 7.2 percent. When viewed in the medium-term perspective, Pakistan’s growth performance is still striking, with real GDP growing at an average rate of 7.0 percent per annum over the last five years (2004-08). The growth of this magnitude not only shows its resilience but also provides a source of optimism that regaining the growth momentum through a combination of adjustments and reforms is very much a plausible assumption.
Economic growth in 2007-08 is principally driven by the services sector, posting a growth of 8.2 percent as against 7.6 percent last year. The commodity-producing sector with agriculture and manufacturing, showing a dismal performance, has contributed to the slippage in growth for the year 2007-08. Within the commodity producing sector, agriculture, especially major crops, performed dismally. While overall agriculture grew by 1.5 percent, major crops infact, posted a negative growth of 3.0 percent. Livestock, accounting for 52 percent of...
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