Impact evaluation of structural adjustment program: a case of Pakistan

We analyzed the effect of Structural Adjustment Program (SAP) on macroeconomic variables of Pakistan using annual time series data for the years 1981-2001. The impact of four policy instruments of SAP, i.e. reduction in budget deficit, increase in indirect taxes,adjusting the exchange rate and sliding down of subsidies, on employment, income distribution, per-capita income and inflation has been analyzed. It is found that the first policy instrument, i.e. decrease in budget deficit has affected employment, income distribution and inflation adversely. The second policy instrument of imposition of indirect tax negatively affected the employment, income distribution, per capita income and positively affected the inflation. The third policy instrument of SAP was adjustment of exchange rate. It is estimated that adjusting exchange rate has resulted into increased unemployment and inflation. The fourth policy instrument of shrink in subsidies augmented the unemployment, unequal distribution of income and inflation and dwindled the percapita income. It appears that SAP has adversely affected the major socioeconomic variables of the economy. Currently the government is considering for loan from IMF, so it is proposed to avoid such type of policy directives from IMF.Structural Adjustment Program, Budget deficit, Indirect taxes, Exchange rate, Subsidies, Employment, Income distribution, Per-capita income, Inflation,Pakistan

Export potential of cottage industry: a case study of Sialkot (Pakistan)

Sialkot, the export city of Pakistan is earning $900 million per annum by exports. The major exports are the sports goods, surgical instruments, leather products, martial art instruments, musical instruments and sports wear. All these products are value-added by cottage industry. How the export potential of cottage industry in Sialkot may be increased,that is the question. The current paper estimated the export potential of the cottage industry by measuring it through Cobb-Douglas production function. The data has been collected from 354 cottage industrial units selected by random sampling. The results explain that labor, capital, experience and education of entrepreneur, and working conditions enhance the export potential of the units. The labor is more used in cottage industrial units as compared to capital so the elasticity of export production with respect to labor is higher as compared to capital. The football making units and other sports goods producing units use a minor ratio of capital and largely depend upon labor for production. Although leather and surgical producing units use higher ratio of capital in production. The education and experience of the entrepreneur also lead to increased export production. The better working condition increases the export production by raising the productivity of labor. The study proposes the education and training of the individuals involved in cottage industry and provision of good working conditions by the Export Promotion Bureau, Sialkot Chamber of Commerce and Industry and vocational training institutes in their respective areas. The surprising results of the study are that credit availed by the units decrease the export production while distance to market from the unit raises the export production. The relationship between credit and export production explains the misutilization of credit while positive association between distance to market and export production explains the involvement of more number of household members in production in the units away from city as compared to the units situated near to market or city. The misutilization of loaning is needed to be checked.Cottage industry, Pakistan, Exports, Cobb-Douglas production function, Sialkot

Financial Liberalization And Demand For Money: A Case of Pakistan

Literature in economics has identified many channels through which the financial liberalization may affect demand for money. There are evidences of stability as well as instability of demand for money due to financial development for developing economies. The objective of the current study is to examine the effect of financial liberalization on demand for money in Pakistan, i.e. whether financial liberalization has affected the demand for money or not. The issue is important as stable demand for money function is a prerequisite for formulating and operating monetary policy. To achieve the objective JJ cointegration and auto regressive distributed lag (ARDL) to the cointegration is employed to estimate the long-run equilibrium relationship between broad money M2 and composite financial liberalization index along with other determinants of demand for money like gross domestic product, real deposit rate and exchange rate. In order to assess the stability of the model, the parameter constancy tests, i.e. recursive residuals, CUSUM and CUSUMSQ tests have been applied. The empirical results indicated that for broad money, there exists long-run money demand function. The financial liberalization, gross domestic product and real deposit rate positively affect the demand for money in the long as well as short-run.Demand for money, Financial liberalization, Real deposit rate, Financial reforms, Pakistan, ARDL

Molecular Characterization of Wheat Genotypes Using SSR Markers

Wheat (Triticum aestivum L.) rusts are the most destructive and widespread among all other diseases of wheat because of their wide distribution, and their capacity to form new races that can attack previously resistant cultivars which result in serious yield losses. The molecular characterization and genetic diversity of 20 wheat genotypes was investigated using 34 polymorphic Simple Sequence Repeats (SSR) screened primers. About thirty-one loci were found. Lr-19 gene was present in all 20 wheat genotypes that cause resistance against wheat rust. Shalimar-86 and Chakwal-86 showed the highest genetic diversity with SH-02 and Ufaq respectively, giving a 98.94% genetic similarity and a minimum genetic diversity was observed between Chakwal-50 and Bhakar which showed that they are 74% similar. The current research found that SSR makers could distinguish and characterize all of the genotypes, more screened primers could be used for study and for saturation of different regions in further research. The identification of rust resistant genes in Pakistani wheat germplasm will help in accelerating the breeding program in future, including pyramiding of different wheat resistant genes in wheat genotypes and varieties

Understanding the headteachers’ role in Pakistan: Emerging role demands, constraints and choices

Little effort is made to study the role of headteachers in the eastern context, including Pakistan. This paper is based on the study conducted in the government and non-government schools in Pakistan in order to understand headteachers \u27 role in terms of the emerging demands, constraints and choices. The study suggests that the government school headteachers seem to be less proactive and more interested in maintaining status quo because of the influence of the \u27topdown management model\u27. The study also suggests that the government headteachers have limited choices and many constraints because of the influence of the bureaucratic system. Their counterparts in non-government schools seem to be more proactive in making the best use of available choices and in maintaining equilibrium between the role demands, choices and constraints. The research findings further reveal that the non-government headteachers tend to have a broader vision of managing schools effectively than their counterparts in the government schools

Vertical workflows: Service orchestration across cloud & edge resources

Currently devices used for data capture often differ from those that are used to subsequently carry out analysis on such data. Many Internet of Things (IoT) applications today involve data capture from sensors that are close to the phenomenon being measured, with such data subsequently being transmitted to Cloud data centers for analysis and storage. Increasing availability of storage and processing devices closer to the data capture device, perhaps over a one-hop network connection or even directly connected to the IoT device itself, requires more efficient allocation of processing across such edge devices and data centers. We refer to these as "vertical workflows" – i.e. workflows which are enacted across resources that can vary in: (i) type and behaviour; (ii) processing and storage capacity; (iii) latency and security profiles. Understanding how a workflow pipeline can be enacted across these resource types is outlined, motivated through two scenarios. The overall objective considered is the completion of the workflow within some deadline constraint, but with flexibility on where data processing is carried out

Foreign direct investment and liberalization policies in Pakistan: An empirical analysis

To enhance the inflow of foreign direct investment (FDI) and ultimately to increase the economic growth, the countries have implemented a variety of financial and trade liberalization policies in the last three decades. Pakistan also initiated such type of policies. This study makes an analysis of the impact of liberalization (financial and trade) in Pakistan, on the inflow of FDI using the time series data of 1971 - 2009. The DF-GLS test is used to determine the level of integration, and autoregressive distributed lag model to examine the long-run relationship. The results indicate that liberalization indicators, like financial liberalization index and trade openness along with real interest rate, negatively affect the inflow of FDI in Pakistan. Tax revenue of product also negatively affects the FDI. On the other hand, the gross fixed capital formation, infrastructure, and inflation positively influence the FDI in Pakistan. The market size (proxied by real gross domestic product) has shown insignificant effect on FDI