scholarly journals Political motivations: The nationalization of the Pakistani banking sector

2008 ◽  
Vol 6 (2) ◽  
pp. 342-346 ◽  
Author(s):  
Hussain Gulzar Rammal

The sixth most populated country in the world, Pakistan has faced political instability since her independence. The Pakistani banking sector, which had experienced rapid growth, faced an unexpected move in 1974 when through a parliamentary act; the Government of Pakistan nationalized the industry and seized control of all assets. The purpose of this paper is to highlight the events leading to the nationalization and the impact of the decision on the banking sector in Pakistan. The findings of the paper reveal that the decision to take control of the banking sector was a politically motivated one which failed to achieve the objectives that were set out during the nationalization

2021 ◽  
Vol 33 (1) ◽  
pp. 193-208
Author(s):  
Brigitte Le Normand

To understand the distinctiveness of ports under state socialism, it is necessary to shift the focus from the built environment to flows of people, goods, knowledge and capital. In so doing, this article examines the operation of Yugoslavia's main shipping line, Jugolinija, from its inception in 1947 until 1960. This enterprise was based in the port of Rijeka, with both firm and port experiencing rapid growth during this period. The impact of state socialism can be seen in the primacy of the political over the profitability of the firm, with Jugolinija used to advance Yugoslavia's foreign trade and foreign policy, its interests being subordinated to the project of building self-managed socialism. It can also be seen in the unique challenges posed by having to operate at the intersection of the global market and a highly regulated economy – a situation that also created opportunities for the firm as a whole, as well as for its employees, who had access to foreign currency, travel and knowledge of the world. Jugolinija's privileged access to the world in what was still very much a closed society also created opportunities for ‘leaks’ of personnel and goods. Finally, socialist ideology left its imprint on Jugolinija's operations and shaped the ways in which its employees understood their work and the place of the firm within the Yugoslav economy. While it is tempting to see state socialism as ‘getting in the way’ of Jugolinija's business, in actuality the firm was remarkably successful both at operating within the Yugoslav socialist state framework, and capitalizing on the opportunities provided by access to the global market. Jugolinija's employees, in turn, profited from the mobility that came with working for the firm, sometimes at the expense of the enterprise and the state.


2021 ◽  
Vol 2021 (71) ◽  
pp. 183-199
Author(s):  
شهد ماجد عبد ◽  
أ.م.د عبدالرسول علي حسين

This research talks about the financial technology that has recently begun to appear in the financial sector around the world, and which promises that it will either be the most important competitor to this sector, or the best available way for it to develop. This research talks about the impact of that technology on the Iraqi banking sector in terms of being an opportunity or a threat to it. The problem that this research addresses is: Is the adoption of financial technology, despite its risks, by the Iraqi banking sector will benefit it? Or will those risks be predominant in the end? It stems from the premise that financial technology is one of the most important opportunities available to the Iraqi banking sector. The research reached several conclusions, the most important of which is that financial technology is indeed an opportunity that is not a threat to the Iraqi banking sector (at least for now), but rather it is one of the most important opportunities available to it, so it must follow an offensive remedial strategy by the banking sector using its strengths that Including high levels of security and confidence, which creates the appropriate environment to exploit its opportunities.


2018 ◽  
Vol 8 (2) ◽  
pp. 159-168
Author(s):  
Devi Asiati ◽  
Gutomo Bayu Aji ◽  
Vanda Ningrum ◽  
Ngadi Ngadi ◽  
Triyono Triyono ◽  
...  

Transformation of digitalization in large industries has an impact on the automation of production equipment, including the replacement of production machines from conventional machines (manual) to digital machines. Meanwhile, automation of production equipment requires workers with higher skills, in fact the existing workforce does not have expertise in carrying out all-digital equipment. The impact is a reduction in labor (layoffs). Machine replacement is done in stages so that the reduction of workforce (PHK) in bulk is not visible. However, the inconsistency between the preparation in the world of education and the needs in the world of work continues to occur today. Until now, vocational development based on local resources has not been operating optimally and needs serious attention from the local government. The government on various occasions mentioned four leading sectors that will be strengthened in the development of vocational institutions, namely maritime, tourism, agriculture (food security), and the creative industry. In addition, the government is also developing a policy scheme for Skill Development Funds (SDF), which is a skills improvement program for workers affected by automation (PHK), including through Vocational Training Center (BLK).


Author(s):  
Revathi R. ◽  
Madhushree ◽  
P. S. Aithal

The banking sector is one of the biggest and revenue generating sector in our economy. Indiais a country with impressively splendid banks with sufficient capital and well-regulated rulesand regulations. One of the biggest transformations that the sector faced during this period isGST i.e., Goods and Service Tax, a new tax regime introduced in the midnight of 1 July2017. Now the new tax regime has become one year old and there are so many changeswhich happened in the banking sector during this one-year periods. Introduction of GST tothe banking sector was one the highly risky and challenging role for the government. GST isa replacement to the Value Added Tax (VAT) which was implied on goods and services. Themain purpose of studying the impact of implementation of GST is to avoid double taxationon goods and services. It is a self-regulated tax system with a simplifies tax regime whichreduces the multiplicity of tax. The purpose of this study is to know the challenges faced bythe Banking sector and its effects on the customers after the implementation of the GST.New tax regime made an incredible step by the abolish of centralized registration of thebanks. Now all the bank branches have to register under GST in each state for the smoothfunctioning. The tax rate has created an impression in the banking sector that the sector iscontributing much toward the economic growth of the country. Tax slabs is anotherimportant and critical thing discussed in this paper which has substantially increasedcompared to the old tax regime. Data for the study have been collected from secondary datasources such as journals, internet, and news articles. Using the ABCD qualitative analysistechnique, advantages, benefits, constraints, and disadvantages for both banks and thecustomers for payment of GST are identified.


Author(s):  
Matundura Erickson ◽  

The government has attempted to target specific macroeconomic factors in order to stimulate economic growth in Kenya through monetary and fiscal policies. Despite these efforts, Kenya's GDP growth is hampered by high interest rates and high interest rate volatility. Kenya's ability to address macroeconomic instability hinges on its ability to increase economic growth. Auxiliary evidence shows that perspectives on the relationship between ICT and economic growth are segmented. The goal of this study was to determine the impact of ICT on economic growth in Kenya, as well as the moderating effect of political instability on the relationship. The research was based on Solow's theory of growth. An explanatory research design was used, with data spanning from 1990-2020 obtained from Kenya Bureau of Statistics. In the empirical analysis, the study used the bound test to test for a long-run relationship and the Autoregressive Distributed Lag model (ARDL) to evaluate the relationship between the variables. The data was subjected to an Augmented Dickey Fuller (ADF) test to determine stationarity.The long run ARDL results indicated that the coefficients of; ICT rate were insignificant . However with the introduction of political instability as the moderator ICT was significant and positively affected economic growth. Political instability moderated the relationship between ICT ( and economic growth. As a result, promoting effective governance should help to improve political stability. The findings of this study will help the government figure out how to address the problem of low economic growth. According to the study, the government should invest in the ICT sector to improve its accessibility and affordability. Additionally, the government should work to improve political stability and good governance by gradually establishing institutions that uphold the rule of law and provide security.


2020 ◽  
Vol 12 (2) ◽  
pp. 226
Author(s):  
Conie Pania Putri

The world is currently being faced by a global covid-19 pandemic, including in Indonesia this pandemic is very disturbing to the public. Manpower development must be regulated in such a way that basic rights and protections for workers are fulfilled, especially for women workers so as to create conducive conditions. The purpose of this paper is to find out the policies issued by companies for workers, especially women workers during the Covid-19 pandemic. This writing method is library research, which is a series of research related to library data collection methods, or research where the object of research is excavated through a variety of library information. The results obtained in this paper are that the company policies that terminate employment of women during the Covid-19 pandemic are protected by Law Number 13 of 2003 concerning Manpower, the losses caused by the company have not reached 2 years, the company cannot simply terminate the work relationship, Then there needs to be other efforts provided by companies or the government in overcoming the impact of Covid-19 on laid-off workers so that they can limit working time / overtime and workers can be sent home without breaking the work relationship The suggestion is expected that the government should supervise and act decisively against companies that employ female workers.


Author(s):  
Thomas Appiah ◽  
Frank Bisiw

The economic development of any nation hinges on the health of its financial system. In recent years, the health of the Ghanaian Banking sector has been affected severely as a result of high levels of non-performing loans (NPLs), which has been identified as a major threat to the overall profitability and survival of banks. To minimize the impact of NPLs on the financial sector, key stakeholders such as the government, bank officials and regulators are working hard in that regard. However, any policy response aimed at dealing with the high rate of non-performing loans first requires the understanding of the underlying determinants of NPLs. Against this backdrop, this paper apply panel co-integration techniques to investigate the determinants of credit risk (NPLs) in the banking sector of Ghana.  We use NPL as a proxy to measure credit risk and assess how it is influenced by macroeconomic and bank-specific factors. A balanced panel data of 16 universal banks in Ghana from 2010 to 2016 has been analyzed using Panel co-integration techniques such as Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS). Our result shows that growth in the economy, measured by Gross Domestic Product (GDP) has significant influence on the NPLs of banks in the long-run. The results further revealed that capital adequacy, profitability and liquidity of banks are significant predictors of NPLs. However, our results suggest that bank size, inflation and interest rate have statistically insignificant influence on the NPLs of Ghanaian banks. The study recommend, among others, that whereas it is important for government and policymakers to work to improve macroeconomic outcomes, banks should also improve their capital adequacy, profitability, and efficiency position as these bank-specific interventions could significantly improve credit quality and minimize NPLs.


2018 ◽  
pp. 178-189
Author(s):  
Grishma Soni ◽  
Prachi V. Motiyani

As we all know that food is the basic Human necessity, without which no one can survive. Making food available for all the people in the world is now days becoming a complex issue. The availability food is decreasing as a result of increase in population that will result in food insecurity or malnutrition. Indian constitution interprets the right to food as part of right to life, which is fundamental human right. Change in climate, the impact of globalization, Global Warming, Carbon dioxide emission from fuel etc. also affects the right to food of many people. This paper examines the situation prevailing in India and looks into the obligations and initiatives by the government of India to ensure Right to Food and make suggestions for addressing the issue and examines the possible way to make the scheme workable to achieve food security.


2021 ◽  
pp. 84-97
Author(s):  
Tatyana Leonidovna Musatova

The article analyzes the impact of the COVID-19 coronavirus pandemic crisis on the foreign policy and diplomacy of states, including economic diplomacy. ED is interpreted as a multi-sided multi-faceted activity, an integral part of foreign policy aimed at protecting the national interests and economic security of the country. Given the interdepartmental nature of the ED, the presence of numerous actors and agents, not only state, but also public and business structures, political and foreign economic coordination on the part of the Foreign Ministries is of great importance, and this role of foreign policy departments is increasing during the pandemic crisis. The activity of the ED of Russia in 2020 was generally successful, among the main results: active participation of diplomats in the anti-epidemic work of the Government of the Russian Federation, including export flights, provision of emergency assistance by compatriots abroad, assistance to foreign countries; measures to promote the Russian vaccine in the world, establish its production abroad, and thus win new world markets for medicines; settlement of the pricing crisis on the world oil market with the leading role of Russia and Saudi Arabia; adjustment of double taxation agreements with a number of foreign countries, taking into account the domestic economic needs of the country; the growing experience of BRICS, this interstate association, which did not know the crisis, including its fight against epidemiological diseases, during the period of Russia’s presidency in the BRICS; further steps to deepen integration within the EAEU; Russia’s success in the eastern direction of foreign policy, in the development of trade exchanges and epidemiological cooperation with the ASEAN and APEC states. The new world crisis has become a catalyst for the convergence of ED methods with scientific and public diplomacy, with other diplomatic cultures that can be combined under the general name of civil diplomacy. Such a separation is required to protect the legacy of professional diplomacy, the popularity and use of which methods is growing significantly. ED, as an integral part of official diplomacy, is presented as a mediator between classical and civil diplomacy. It provides civil society with an example of the more rigorous, pragmatic, resultsoriented work that the current pandemic crisis requires.


2020 ◽  
Vol 12 (21) ◽  
pp. 9091
Author(s):  
Luis Miguel Lázaro Lorente ◽  
Ana Ancheta Arrabal ◽  
Cristina Pulido-Montes

There is a lack of concluding evidence among epidemiologists and public health specialists about how school closures reduce the spread of COVID-19. Herein, we attend to the generalization of this action throughout the world, specifically in its quest to reduce mortality and avoid infections. Considering the impact on the right to education from a global perspective, this article discusses how COVID-19 has exacerbated inequalities and pre-existing problems in education systems around the world. Therefore, the institutional responses to guaranteeing remote continuity of the teaching–learning process during this educational crisis was compared regionally through international databases. Three categories of analysis were established: infrastructure and equipment, both basic and computer-based, as well as internet access of schools; preparation and means of teachers to develop distance learning; and implemented measures and resources to continue educational processes. The results showed an uneven capacity in terms of response and preparation to face the learning losses derived from school closure, both in low-income regions and within middle- and high-income countries. We concluded that it is essential to articulate inclusive educational policies that support strengthening the government response capacity, especially in low-income countries, to address the sustainability of education.


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