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Topics - Raisa

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Public Health / What are the early signs of cancer?
« on: April 22, 2018, 09:06:37 PM »
The following symptoms may also indicate the presence of some form of cancer:
Coughing-up blood.
Persistent headaches.
Unexplained loss of weight or appetite.
Chronic pain in bones.
Persistent fatigue, nausea, or vomiting.
Persistent low-grade fever, either constant or intermittent.
Repeated instances of infection.

Fashion / How To Take A Good Selfie: 12 Selfie Tips To Consider
« on: March 13, 2018, 04:41:08 PM »
Go to your camera roll right now. Scroll the short distance to the last time you were taking selfies. Now pause to observe. Chances are, you banked somewhere between five and 450,000 shots until you got the right one. We all do it. That's because nailing the perfect selfie isn't easy—it's about the right combination of light, angle, setting, and photo filters.
We consulted with selfie experts (celebrity vloggers, bloggers and makeup artists) to find out how to take a good selfie. Read on for twelve tips that will help you take your selfie game to the next level.
1. Lighting is Everything
It sounds obvious, but the first rule of selfie-ing is to pay attention to your lighting. You need good lighting. Natural lighting. As vlogger Jordan Liberty puts it, "Light is undoubtedly the best beauty product you don't have to pay for." Instead of facing your computer screen or television, turn toward a window with natural light. Or better yet, go outside and bask in the sun's glow (with sunscreen on). Good lighting can actually make undereye circles and shadows totally disappear.
2. Avoid Shadows
"There is nothing worse than having a huge shadow cast over your face," says photographer and style blogger Candice Lake. "When in doubt, face directly into or away from the sun. If it's the middle of the day and the sun is high, the shadows can look like bags under your eyes. The golden hour to shoot a photo is during sunrise or sunset, when the light is low and the most beautiful."
3. Know When to Use Flash
While finding natural light and avoiding shadows are key tips to how to take a good selfie, there are times when you want to take a selfie and it's dark. Whether you're in the club or just on your couch watching Netflix, how do you get a great selfie in little to no light? Turn to Snapchat. The app has a flash feature for the front-facing camera, while the regular photo app on iPhone does not. In Snapchat, hit the little lightning bolt on the top left corner and then take your selfie. The screen will burst bright white light on your face. It won't look perfect by any means (it gives the photo a subtle blue cast), but at least you'll be able to see your face. Once you save it to your camera roll, you can play with the tone to make it a little less blue.
4. Smile Like You Mean It
"Flash a real smile and no image will look bad," says Lake. Don't contort your face into a grin that's too big or forced. Natural smiles are always better. On the other hand, if you're going for slightly more serious selfie, pull a Tyra and "try smiling with your eyes." Lake's advice for perfecting the smize? Practice in front of the mirror until you get it right. You'll get the hang of it!
5. Take a Lot of Selfies...and We Mean A LOT
Kylie Jenner's best selfie tip is just to take selfies. A lot of selfies. She's said that she takes "like, 500 selfies" before she finds one she likes enough to post. "Sometimes I regret putting one up if I find a better one later. I'm like damn, that's a better photo, but that's the only thing I regret," she has said. Try tilting your head in different directions and changing the angles up slightly between each shot so there's a wide variety to choose from. And don't forget to make sure the camera's focused before snapping away.
You can film your selfie session instead of taking standard pictures. Press record on the video option instead and pose away. After a minute or two of this, you can scroll through the video and freeze a frame with the best selfie. It sounds silly, but you can actually pull out the best selfie poses this way (and no one will ever know the difference!).
6. Play to Your Angles
If there's one piece of advice you should take from Kim Kardashian, it's this: When it comes to selfies, keep your chin down and the camera up. There are about five people in the world who look good when shot from under their chin, and we haven't met any of them. When taking a selfie, hold the phone so that the bottom of it is level with your eyes. Or better yet, use a selfie stick. They're ridiculous in every way except one: Because you hold them up high, they make everyone look svelte and supermodel-y in photos.
Furthermore, you probably shouldn't stare directly into the camera. "Most people don't look their best straight-on. Turn to the side a little bit — not to the point where it's a full-on profile, but just slightly," says makeup artist Nick Barose.
7. Use the Right Apps and Filters
"I have a soft spot for the Valencia [Instagram] filter. It's the dreamiest of all filters and it makes everyone look gorgeous," says Lake, who also recommends the Afterlight app for editing camera-phone photos. If you're really serious about selfies, Phan recommends the Samsung Galaxy S5 phone, which has a selfie mode. "It makes everything easy. I take a picture and it automatically airbrushes my face and it brightens it," she says. There's no shame in editing a photo of yourself before posting it to the 'Gram. We also love Facetune, which lets you subtly blur, shape, morph, and define certain areas of your face. Blogger Amanda Steele likes the filters on VSCO, but other great apps are Perfect365 and Adobe Photoshop Fix. Don't like your under-eye bags? Blur them away! Want to whiten your teeth? Go for it. A subtle trick on Facetune is to "detail" your eyes, which makes them look bright and sparkly. What's on the Internet lives forever, after all.
8. Don't Over-Edit
While we're all for editing and filtering, don't adjust your selfie to the point that it looks unnatural. When editing, use a really light touch. It's easy to get carried away. Only touch up the areas that are glaringly obvious to you — those little lines around your eyes make you look human. If you're using a filter, you also have the option to not use it at max capacity. Instead of just selecting a photo filter on Instagram, click on the filter itself (Amaro, Valencia, etc.) until a sliding bar comes up. Then you can reduce the severity of the filter, making the photo appear a little less edited.
9. Be Mindful of Your Background
The best selfies have either interesting backgrounds (Oh, you're just casually selfie-ing while skydiving? Great.) or really, really simple ones. The middle ground is what's deadly. And beware of photo-bombers.
10. Don't Overthink It
Just relax. A trying-too-hard selfie is never going to be a good one. "The thing about selfies is that you don't want them to be too serious. If your makeup looks like it took you an hour to do and you look too posed, you're not doing it right," says Barose. The best selfie poses are the ones that come naturally to you.
11. Avoid Cliché Selfies
Rule of thumb: If it looks like something a teenager on MySpace circa 2004 would have done, you shouldn't be doing it. "No one needs to do that Kim Kardashian duck-lips face," says Barose. It might give you killer cheekbones — but it's time to retire it.
Should you find yourself overwhelmed by the urge to throw up some sort of faux gang sign…put down your iPhone and do not let yourself near any other camera until the urge subsides. Most of the time, people rely on those poses because they feel uncomfortable. But Lake has a trick for loosening up: "If you feel a little stiff, walk away and then step into the frame again and snap quickly. You'll have less time to be self-conscious."
12. Embrace Natural Expressions
"Right before you snap a selfie, say 'yes' in your head, or 'yasss' if you're feeling extra sassy. You can also inhale just as you hit the shutter for lightly parted lips and a relaxed expression," Liberty says. He also recommends keeping your eyes shut until the moment before you take the shot. "Expressions look best when they're fresh."

« on: March 13, 2018, 04:39:04 PM »
A lady always shows respect and consideration for others while placing a premium on honesty and graciousness. A lady also knows how her individual choices may affect others and how easy it is to choose words and actions more wisely. If you missed out on cotillion as a child, I think it best to invest in an etiquette book. ‘Emily Post’s Book of Etiquette’ is great to look up and source any question you might have and a perfect addition to any Lady’s Library. In the meantime here are my top 10 tips for being a lady in modern day society.
1. Follow Through  – Nobody likes a flaky person. Regardless of how busy your life has become with commitments to your Husband and Children, you should never agree to take on more than you can handle i.e.… rsvp-ing to events, lunches with friends or other engagements. When receiving an invitation, contemplate if you’ll be exhausted from a busy day and politely decline. Many people re-arrange their schedules and look forward to plans and get upset with last minute cancellations. If a cancellation is necessary, be sincere in your apology and reschedule as soon as possible.

2. Phone Etiquette – Calls should only be placed between the hours of 9:00am – 10:00pm.  Try to make a habit of returning calls within 24 hours of getting the message. When taking calls on your cell phone do consider other around you, keep conversations short and never discuss private matters in public. Your cell phone should remain in your purse and never be taken out during a meal. If need be excuse yourself from the table to check in with babysitters or any other emergencies. When in theatres or performances turn your phone to silent or off and avoid texting. Texting is extremely rude when in the presence of others.

3. Dressing Like a Lady – A lady always leaves something to the imagination, which is why one should choose to show a little leg or instead decide to accentuate your décolletage. When sitting down always cross your legs or ankles to avoid nearby peeping toms; it’s also important to practice getting in and out of cars without flashing the valet. ( Take the time to learn which dress codes are appropriate for certain occasions, for example if your invitation calls for “Cocktail Attire”, “Black Tie” or “White Tie,” would you know what is appropriate to wear? (Dress Code Guide:
4. It’s The Little Things – When a guest enters your home, do you offer them a glass of water or beverage of their choice? When arranging for a dinner party, do you remember if one of your dinner guests has a gluten allergy? When selecting a gift, is it something your friend mentioned they wanted? Just as a gentlemen would offer his coat if you were showing signs of being cold is how you should pay attention to small details. It’s a great way to show the people around you how much you care and are listening. Go the distance to make the people in your life feel incredibly special.

5. Always The Gracious Guest – Whether you have been invited over to a someone’s home for a dinner party, movie screening or cocktails, Never show up without a hostess gift. The gesture can be as small as a bottle of wine or dessert to as grand as having a flower arrangement delivered.

6. A Mouth from The South – This is easy and won’t cost you a dime. Make a conscious effort to avoid using profanity. Every once in a blue moon I can appreciate good use of the F word to really drive a point across, but when in public lets keep it clean!

7. The Art of Conversation – When being introduced to someone try to repeat their name out loud so it won’t escape your brain as easily. If you’re at a small soiree do your best to socialize with each person, making everyone feel comfortable and included. When engaged in a conversation remember to listen well and show your interest in what others are speaking about. Try to avoid topics that will engage arguments like politics, sex and money. Other important things to remember: always accept a compliment, never flirt inappropriately and what you say can never be un-said.

8. A Lady at The Table – As a lady the first action one should take when sitting down to the table is to put your napkin in your lap; when you’re finished your napkin gets placed next to your plate, never on top. Your mother was right with the never changing rule of…. No elbows on the table. When being served always ask for food to be passed to you than trying to reach for it.  When the meal is done never apply lipstick at the table, instead excuse yourself to the ladies room.
9. Merci– A lady always writes thoughtful handwritten thank you notes for gifts received and other kind acts of generosity, for example when someone goes out of their way to make special arrangements or plans for you. Thank you notes may not be eagerly awaited, but it’s something that should be expected and most likely noticed in their absence.  If you want to go the extra mile, call your host the next day to say what a great time you had.

10. Gossip Girl – This happens to be one thing every women is guilty of doing. Let’s face it – avoiding gossiping can be hard, but is this the way you want to spend your time? Be aware of people who gossip the most. Eventually the people doing the gossiping will eventually come to gossip about you, when your not there to defend yourself. If you fail the next time you hear gossip and find yourself repeating it, try changing the topic of conversation. With practice it will get easier.

Life Science / Life Science
« on: March 07, 2018, 01:14:03 PM »
Our Life Science portfolio delivers products and services for life science research in academic and pharmaceutical environments. Our focus on genomic, proteomic and cellular analysis is supported by sample preparation, research reagents, intuitive detection platforms, and services to help customers better understand biological function and disease.

Discover our broad portfolio of Life Science platforms, antibodies, biochemicals, buffers, immunoassays, multiplexing Assays, sterile filtration & cell culture consumables.Monoclonal and polyclonal primary antibodies are focused on cell biology, neurobiology and molecular biology. Secondary antibodies targeting multiple host’s IgG are conjugated to alkaline phosphatase, peroxidase, biotin, FITC and other labels. Other immunochemicals include assay development reagents, such as purified immunoglobulins, controls, blocking agents, buffers and substrates.As people, we hope for longer, healthier and more productive lives. As scientists, we work every day to make that hope a reality. For cell culture, that means creating a consistent environment to ensure validity of results. Our comprehensive portfolio of high quality products includes everything from Fetal Bovine Serum, liquid media, supplements, and cryopreservation reagents to filtration units, general labware, and specialty cultureware. Through partnerships with organizations like the European Collection of Authenticated Cell Cultures (ECACC), we remain committed to providing high quality and consistent products for your cell culture preparation, growth, and analysis.

Join over 8,000 of your peers who have already signed up for the Cell Informer newsletter.Antibiotics, such as penicillin, puromycin, and ampicillin, are molecules that specifically target and kill cells. Antibiotics are classified into four categories: antibacterial, antiviral, antifungal, and antineoplastic. They work by a number of different actions including inhibition or regulation of cell wall synthesis, nucleic acid metabolism, and protein synthesis. Sigma-Aldrich offers a wide variety of antibiotics and antibiotic solutions for all your research needs.

Fever / How to Cure a Fever at Home
« on: March 07, 2018, 01:11:51 PM »
A fever is your body's natural response to fight off viruses and bacteria by weakening the germs and limiting their ability to reproduce.It also helps burn away toxins and stimulates the immune system. Since a fever is the body’s preferred method for healing itself, it should only be “cured” when the body becomes too weak to handle the infection, when the fever is too high for the body to handle, or when it makes you extremely uncomfortable. While you can handle most fevers at home, you should call 911 immediately if you also have severe dehydration with blue lips, tongue, or nails; severe headache; hallucinations or difficulty walking; difficulty breathing; or seizures.
Drink lots of water. Aim to drink at least eight ounces of water every two hours. Your body can quickly lose moisture and get dehydrated by sweating or sneezing caused by illnesses, such as colds and flu, that are often associated with a fever. Dehydration can cause your temperature to rise and often leads to headaches, dizziness, muscle cramps, low blood pressure, and seizures.[4]
2 liters of water is the daily recommendation for the average adult.[5] Caffeinated beverages in moderation are generally fine, but make sure they are not your only source of fluids. Get most of your daily fluids from pure water.[6]
Sports drinks are acceptable liquids for re-hydration, but use carefully. While these drinks do provide electrolytes, it is usually far more concentrated than necessary. Try diluting one part water to one part sports drink, or one glass of water for every glass of sports drink.
Rehydration solution. You do not need any commercial drinks to help re-hydrate--make your own.
For young children, consider a commercial electrolyte rehydration solution, such as Pedialyte, for young children, since these proportions have been specifically designed for children's bodies.[7]
To rehydrate children, offer at least 1 ounce per hour for infants, 2 ounces per hour for toddlers, and 3 ounces per hour for older children.

Business Administration / Theory of Supply
« on: February 02, 2018, 07:16:57 PM »
Supply is a schedule which shows the amounts of a product a producer is willing and able to produce and make available for sale at each price in a series of possible prices during a specified period. The amount the firms are willing to sell may not be the same as the amount they succeeded in selling.

Determinants of Quantity Supplied: How much of a commodity will firms be willing to produce and offer for sale? It depends on a number of factors. The main factors are shown below:

•   Price of the commodity
•   Price of other goods produced
•   Price of factors of production
•   The goals of the firm
•   Expected future price
•   The state of the technology
•   Number of suppliers
•   Taxes and subsidies

The price of the commodity: If the price of the commodity is higher, firms will produce and sale more of the commodity; and if the price of the commodity is lower, firms will produce and sale less of the commodity.

The price of other goods produced: The supply of a commodity is influenced by the price of the other goods produced. For example, a piece of land can produce either potato or wheat. So, these two commodities are substituted in production. . If the price of potato increases, the supply of wheat will be lower. People will use their land in producing potatoes. Therefore, an increase in the price of the substitute in production lowers the supply of the commodity. Commodities can also be complements in production. Complements in production arises when two things are, of necessarily, produced together. For example, cattle produce beef and cowhide. An increase in the price of anyone of these by products of cattle increases the supply of the other.

Prices of factors of production: The prices of factors of production used to produce a commodity influence its supply. For example, an increase in the prices of the labor and the capital machineries used to produce audio cassettes increase the cost of producing audio cassettes; so the supply of audio cassettes decrease.

The goals of the firm: Normally, the firm is assumed to have the single goal of profit maximization. Firms might have other goals either in addition to or substitutes for profit maximization. If the firm worries about risk, it will pursue safer lines of activity even though they promise lower probable profits. If it wants good image in society, it will produce and supply less quantity to ensure more quality.
Expected future price: Assumed that the price of any commodity will rise after six months, the commodity will be stored for sale after six months and the supply of that commodity will be lower at present. On the other hand, if there is a possibility of decreasing the price of the commodity after few months, the supply of the commodity will be more at present.
The state of technology: Invention of new technologies that enable the producers to produce their commodity at lower cost (use of less factors of production or cheaper factors of production), which increases their profits, and they increase supply. For example, the invention of transistors and silicon chips has revolutionized production in television. And thus the supply of television has increased.

Number of suppliers: Other things remaining the same, the larger the number of firms supplying a commodity, the larger the supply of the commodity.

Taxes and subsidies: Producers treats most taxes as costs. Therefore, an increase in sales taxes will increase costs and reduce supply. On the other hand, subsidies are reverse of taxes. If the government subsidizes the production of a good, it will lower cost and increase supply.

The Relationship between Price and Quantity Supplied: Law of Supply: If all other factors remain constant, there exists a relationship between commodity’s own price and quantity supplied. The relationship is called the law of supply.

The law of supply simply states that ‘other things remaining the same, the higher the price of a commodity, the higher the quantity supplied; and the lower the price of a commodity, the lower the quantity supplied’.

Business Administration / Elasticity
« on: February 02, 2018, 07:14:55 PM »

Elasticity of Demand and Supply

Elasticity is the ratio which measures the responsive or sensitiveness of a dependable variable to the change in any of the independable variables. If Y=f(X), i.e., Y depends on X, then the elasticity of Y with respect of X is:

Elasticity = Percentage change in dependable variable / Percentage change in independable variable

Elasticity of Demand:  The elasticity of demand is the measure of responsiveness of demand for a commodity to the changes in any of its determinants. The determinants are the commodity’s own price, income, price of related goods (substitutes and complements), and consumers expectations regarding future price.

The elasticity of demand can be calculated with respect to each of the determinants.

Price Elasticity of Demand: If the price of a commodity changes, then do consumers change their attitude in buying that commodity? The answer may be one of the following?

•   They do not change their attitude;
•   They slightly change their attitude;
•   They change their attitude drastically.

How much consumers respond to the price changes is measured by price elasticity of demand. In other words, the response of consumers to a change in price is measured by the price elasticity of demand. Specially, the price elasticity of demand refers to the percentage change in quantity.   

Price elasticity of demand = Percentage change in quantity demand rate / Percentage change in price.

Determinants of Price Elasticity of Demand: The price elasticity of demand is influenced by all the determinants of demand. The following determinants are worth noting:

Nature of the Goods (Luxuries versus Necessities): Necessities such as food stuff are price inelastic, means they are not very responsive to change in price because people do not reduce their consumption of price even if the price is very high. People can not live without food. There, rise in price cannot influence the demand for necessities very much. On the other hand, goo such as air conditioner, decoration items, etc. are price elastic, means they are very responsive to changes in prices. People can postpone the consumption of luxury goods when their prices rise.

Availability of Close Substitutes: If consumers can easily get a good substitute Y for a product X, they will switch readily to Y if the rice of X rises. For example, if the price of Close-UP toothpaste rises, people will switch readily to any other brands such as Pepsodent, Colgate, etc. On the other hand if the substitutes of any commodity are not easily available the elasticity will be low, like the elasticity of demand for personal computer.

Fraction of the Income Absorbed: If only a small fraction on income is spent on a good, then a change in its price has little impact on the consumer’s overall budget. In contrast, even a small rise in the price of a good that commands a large part of a consumer’s budget induces the consumer to make a radical reappraisal of expenditures. For example, we can think about the elasticity of demand for textbooks and chewing gum. If price of textbooks doubles, there will be a big decrease in the quantity of textbooks bought. Thus students will share and photocopy the textbooks instead of buying new ones. If the chewing gum doubles also, there will be no change in the quantity of gum demanded. The difference is because books take a large proportion of the budget, while gum takes only a tiny portion.

Time: The demand for many products is more elastic in the long run than in the short run. Consumers may not immediately reduce their purchases very much when the price of chicken rises 10%, but in time they may shift to beef or fish. Therefore, since consumers do not reduce the demand for a commodity immediately after the rise in its price, the demand for that commodity is inelastic in the short run. But if the price of the chicken remains high for a long time, then consumers switch to any convenient or less costly substitutes for chicken, which make the demand for chicken elastic in the long run.

Alternative Uses of a Commodity: The more the uses of a commodity, the highly elastic is the demand for it. For example, if the price of milk falls, the demand of milk will increase more than the proportionate fall in its price, because milk can be used in different purposes such as in making curds, ghees, butter, sweets, etc. Therefore, the demand for milk is highly elastic.

Elasticity of Supply: The elasticity of supply measures the response of quantity supplied to the changes in any of its determinants.

Price Elasticity of Supply: The price elasticity of supply measures the responsiveness of the quantity supplied of a commodity to a change in its price. The formula used to calculate the price elasticity of supply:               

Price elasticity of supply = Percentage change in quantity supplied / Percentage change in price.

Cross Elasticity: In cross elasticity, we examine the effect of the percentage change in the quantity demand rate for one product with respect to percentage change in the price of another product. For example, Econo Ball Pen and Writer Ball Pen have a high cross elasticity of demand. The producer of Econo Ball Pen is thus in competition with the producer of Writer Ball Pen. If  the If the Econo Ball Pen company rises its price, it will lose substantial sales to the Writer Ball Pen producer.

Income Elasticity of Demand: Income elasticity of demand is defined as the ratio of percentage change in quantity demand rate with respect to percentage change in income. 

Income Elasticity of Demand = Percentage change in quantity demand rate / Percentage change in income.

Elasticity of Demand Analysis:

If Ed = 0; the product is perfectly inelastic, which means that when prices of such products change, there is absolutely no reaction among the consumers. Example, very luxury products.

If Ed < 1; the product is highly inelastic, which means that when prices of such products change, there is almost no or very little reaction among the consumers. Example, nearly luxury products.

If Ed = 1; the product is perfectly elastic, which means that when prices of such products change, there will 100% reaction among the consumers. Example, very essential products.

If Ed > 1; the product is highly elastic, which means that when prices of such products change, there will be huge reaction among the consumers. Example, nearly essential products.

Business Administration / About Bangladesh
« on: January 31, 2018, 09:36:36 AM »
Over the last ten years Bangladesh has made impressive gains in key human development indicators. According to the 2008 UNDP Human Development Index Statistical Update, Bangladesh ranks 147th among 179 countries with an HDI score of 0.524, placing it among countries considered to have achieved medium human development. But even as Bangladesh has taken these considerable steps towards poverty alleviation, many challenges remain. More than 63 million people live below the poverty line. The constant threat of shocks – natural, political, or economic - the uncertain impact of globalization, and an increasingly competitive international trade environment impede higher growth rates. In addition, structural changes in rural Bangladesh have spurred rapid economic migration. This exacerbates urban poverty, creates a lack of reliable work and leads to congestion and limited shelter in urban areas. Bangladesh thus faces considerable challenges to sustain and build on the achievements of the last decade, and to remain on track to meet its targets under Sustainable Development Goals (SDGs).

Civilization in the Bengal delta dates back more than 4,300 years. The borders of present-day Bangladesh were established during the British partition of Bengal and India in 1947, when the region became East Pakistan, part of the newly formed state of Pakistan. It was separated from West Pakistan by 1,600 km (994 mi) of Indian territory. Due to a desire for political, economic and linguistic self-determination, popular agitation and civil disobedience grew against the Pakistani state. This culminated in the Bangladesh Liberation War of 1971.

The People’s Republic of Bangladesh was founded as a constitutional, secular, democratic, multiparty, parliamentary republic. After independence, Bangladesh went through periods of poverty and famine, as well as political turmoil and military coups. The restoration of democracy in 1991 has been followed by considerable advances in economic, political, and social development.

Bangladesh straddles the fertile Ganges-Brahmaputra delta, and has a cultural heritage that is proudly intertwined with the broader civilizational history of the Indian subcontinent. It is a pluralistic nation of considerable religious and ethnic diversity. Bangladesh is the world's eighth most populous country, and is also one of the most densely populated. The elected parliament in Bangladesh’ parliamentary electoral system is called the Jatiyo Sangshad. Bangladesh is a founding member of SAARC, the Developing 8 Countries, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and the Bangladesh–China–India–Myanmar Forum for Regional Cooperation (BCIM). It is also a member of the Commonwealth of Nations, the Organization of Islamic Cooperation (OIC) and the Non-Aligned Movement. Bangladesh is also the world's largest contributor to United Nations peacekeeping missions.

Bangladesh is undergoing substantial economic and social change, and this will intensify in the coming decades. Fundamental forces are at play, involving rapid industrialization, structural change in the economy, and substantial rural-urban migration. These processes bring a host of developmental pressures, and a range of potential inequities. As the country moves to middle-income status, the differences in income and living conditions have tended to widen. This is a by-product of the growth process, Bangladesh’s centralized economic model, and its difficult geography. It is vital these inequalities are addressed if poverty is to be further reduced, and a host of future problems associated with social exclusion avoided.

Environmental pressures, exacerbated by climate change, remain significant and could easily worsen if remedial actions are not taken at the local and global level. While the population is expected to stabilize at around 200 million, growing wealth and migration will place further strain on ecosystems and the living environment.

Providing better social services, especially in health and education, is also key to Bangladesh’s continuing ability to meet core welfare objectives. While the country has done well in meeting its headline MDG obligations, the quality and durability of some outcomes remains weak. Major service delivery concerns must be addressed by more effectively improving the quality of governance in Bangladesh. As inequalities get more profound and complex, there is a need to look beyond aggregate data, to see whether disadvantaged groups actually have access to services, as well as how performance varies geographically.Bangladesh’s economic model has been consistently mindful of the poor and the disadvantaged. Indicators of extreme poverty demonstrate that poverty has fallen from around 50 per cent of the population in 2000, to just over 30 per cent in 2010. Broad improvements in social welfare have been secured. This is rooted largely in Bangladesh’s abundant supply of inexpensive labour, and in successful government policies that promote macroeconomic stability and growth. With the global economic recovery, favorable demographics and improving investor confidence, growth may accelerate above its current trend rate of 6 to 6 ½ per cent in the coming years. 

Bangladesh retains a deep commitment to social solidarity and to a progressive development agenda. Many MDG targets, in areas ranging from poverty reduction to infant mortality, have been secured. The Government has also shown itself able to recognize delivery weaknesses and marshal resources accordingly. This is most clear in relation to maternal mortality, where Bangladesh successfully overcame a significant challenge, securing a 30% reduction in deaths during child birth over only four years. This bodes well for future interventions to capitalize on MDG successes, to further improve access to healthcare and schooling.

Ongoing government programs have targeted disaster preparedness and recovery, with great success. Bangladesh’s vulnerability to disasters is significant, but the country’s track record has been exceptional at improving human security and saving lives. While extreme climatic events still tragically result in some deaths, numbers have fallen drastically. This provides a sound foundation for addressing other pressing questions of environmental sustainability.

Being a deliberate action by the government and that aims at controlling and influencing the cost as well as the availability of credit in order to influence the economic performance of a nation, monetary policy is conducted and controlled by the central bank. Similarly, monetary policy is one of the most used policies in macro-economics and unlike the fiscal policy, its implemented with an aim of influencing the level of aggregate economic activity. However, most of the central banks in the developing countries are faced by a number of challenges in there efforts of trying to implement monetary policy as expressed below:
i. Corruption in some of the developing countries.
If some of the developing nations experience corruption in their systems of governance and administration, it renders instruments of monetary policy such as selective credit control less effective.
ii. Knowledge deficiency regarding monetary policy instruments.
When the citizens of developing countries lack knowledge on monetary policy instruments like selective credit control and open market operation, the instruments themselves become ineffective in that the citizens will not approve them. This means that they will simply not work in the favor of these instruments.
iii. Difficulty in utilizing the traditional instruments of monetary policy in controlling money supply.
Since many citizens in developing countries do not deposit their money with commercial banks, it proves rather hard for the central banks to effectively employ their traditional tools of monetary policy to control money supply.
iv. Lack of direct linkage between lower interest rates, higher investment and expanded output.
In developing nations, investment decisions are not done using interest rate movements not forgetting that due to inflation, they experience negative real rates of interest. Instead, such decisions depend on business expectations which make it difficult for central banks to implement monetary policy.
v. The central banks lack full control over commercial banks that are branches of major foreign private banking institutions.
This is simply because such branches in developing nations are able to access liquid funds in an event of having their base squeezed by local monetary authorities like the central bank.
vi. Less sensitivity to changes in the cash bases of most of the commercial banks in developing countries.
Such a scenario appears as a result of the excess liquidity found in these commercial banks due to the rareness of credit worthy borrowers and viable projects. This makes it hard for the central banks in these nations to utilize their instruments of monetary policy effectively.
vii. Lack of developed money market and capital markets and limited quantity and range of financial assets.
With such disorganization in the money markets, the use of instruments like open market operations by the central banks in developing countries becomes extremely limited.
viii. Money supply regulation constraints caused by the openness of economies of developing countries.
Therefore, it becomes difficult for the governments of such nations to control national money supply which is done through their central banks as the accumulation of foreign currency is highly significant in availing and building their domestic financial resources.
ix. Inappropriate use of monetary policy instruments.
At times, a problem arises and the central banks of these developing countries cannot make correct decisions as to which instrument to put into use thus addressing it ineffectively. Thus, it’s vital that the central banks know when it is appropriate to use monetary or fiscal policy.
x. Volatility of the exchange rate of these developing nations’ domestic currency.
Just like Kenya, most of these developing nations work under the policies of floating exchange rate. Their economies also face increasing openness and globalization day by day thus making the exchange rate of their currencies volatile. This turns out to be a challenge to their central banks as they have to quickly come up with suitable and effective monetary measures to stabilize the exchange rates.

Business Administration / Economic PRofile of BD
« on: November 29, 2017, 10:43:35 AM »
Economic Profile Pakistan 1947-2013

Pakistan got its independence from the British occupation on 14th August 1947. Since emergence of the state on the political background of the world, economically, it has experienced a bumpy ride all together. Many reasons for this are given by the experts and arguments are presented as to how the situation can be remedied but situation has gradually worsened over the years.
Economic and social outcomes in Pakistan over the last sixty years are a mixture of paradoxes. Pakistani economy grew at a fairly impressive rate of 6 percent per year through the first four decades of the nation's existence. A feat achieved by a very few nations. In spite of rapid population growth during this period, per capita incomes doubled, inflation remained low and poverty declined from 46% down to 18% by late 1980s, according to eminent Pakistani economist Dr. Ishrat Husain. This healthy economic performance was maintained through several wars and successive civilian and military governments in 1950s, 60s, 70s and 80s until the decade of 1990s, now appropriately remembered as the lost decade.
Politically, however, the interplay of religious fundamentalism, sectarianism, ethnic cleavages and regional economic disparities has made the country volatile and unstable. Various East Asian countries that were behind Pakistan in the 1960s have surged far ahead in most economic and social indicators. Pakistan has thus been unable to realize its potential. South Korea is a prime example of this case. In 1960’s both counties were almost at the same economic stage but owing to the inability to implement the economic plans appropriately, the gap between the two states widened with the passage of time in South Korea’s favor.
Despite sharing a common historical, cultural and social milieu, Pakistan and India have pursued different paths since independence in 1947. Both countries have done reasonably well in improving their economies and reducing absolute poverty levels. India has, however, emerged as a stable and vibrant democracy while Pakistan has spent half of its post-independence years under military dictatorships and is currently struggling to quell an Islamic insurgency in the northwest part of the country. The democracy–development nexus appears to be well entrenched in the case of India, while it is faltering in Pakistan. A great deal of recent literature has suggested that China and India are the typical representatives of authoritarian and democratic regimes, but fewer attempts have been made to resolve this puzzle in the case of India and Pakistan, two countries that are more akin to each other and share a common legacy.
In order to address these questions it is useful to revisit the essential dimensions of Pakistan’s economic and political history, a history which can be divided into six distinct periods:

•   The Flat Fifties, 1947 to 1958
•   The Golden Sixties, 1958 to 1969
•   The Socialist Seventies, 1971 to 1977
•   The Revivalist Eighties, 1977 to 1988
•   The Muddling Nineties, 1988 to 1999
•   The Reforming Hundreds, 1999 to 2007

Period I: The Flat Fifties, 1947 to 1958
   Pakistan came into existence as a moth-ridden country at the time of the partition of India. The British-controlled provinces of Punjab and Bengal were each divided into two parts. East Punjab and West Bengal formed part of modern-day India; West Punjab and East Bengal, along with three other provinces, together formed Pakistan. The physical separation between eastern and western Pakistan, with Indian territory in between, put Pakistan at a serious disadvantage from its inception.
This era marked the government of Liaquat Ali Khan and initiation of First Fiver Yearly Plan. It was initiated by Ministry of Finance (MoF), studied and developed by the Economic Coordination Committee (ECC) and framed after the Russian example. The plan was based on the theory of Cost of Productoin value, and also covered the areas of Trickle-Down economic system. State Bank of Pakistan was established to kick start the economic engine of the nation and major economic infrastructural expansions took place in the process. Currency war between Pakistan and india was also a highlight of this era which started with the devaluation of pound sterling and refusal of exchange in PKR by indian authrorites in 1949. In the mid 1950, these relations were restored and trade resumed between the two nations.
This era also marked the start of the Korean War which led to economic bloom the local economy but the growth was retarded by the assassination of Liaqat Ali Khan in October 1951. In 1953 the plan collapsed althogher due to want of funds. The plan was initiated unsystematically, inadequate staff and lack of ambition is listed among few of the many causes. Also the shortage of consumer goods like food, clothes, medicines and sharp fall in production due the monsoon floods of 1951-52 and 1952-53 were a decisive force to hinder the progress of the nation. Thus, in the end, Prime Minister Khawaja Nazimuddin was forced to end the program after sending his request to provide economic assistance from the United States and other friendly counties.
In 1955, Prime minister Muhammad Ali Bogra again revived the plan and published in 1956. After reassessing, the programme was again launched with focusing (as highest priority) on agricultural development, and the strong emphasis placed on rapidly increasing the developmental effort in East-Pakistan and in the less-developed areas of West Pakistan. Prime minister Huseyn Suhrawardy of Awami League gave much priority to food development, agriculture and social development in both states. The concept of Collective farming was introduced by Suhrawardy as part of his agricultural policies and around  27.0Mn rupees were spent in order to organised the agricultural in the country. However, this programme was built entirely in the absence of much essential information and basic statistics.
In practice, this plan was not implemented because of its enormous size that lacked the physical and personnel assistance. The shortage of technical knowledge also devastated the programme. The Awami League's government also had shortage of foreign exchange to execute the plan, and was unable to find outside assistance to fulfill its commitment to the first five-year plans.
The seeds of separation were further sown when the Muslim League lost the 1954 provincial elections in East Bengal due to a growing disaffection with the ruling political elite in West Pakistan. This elite from the Punjab province, instead of coming to grips with the grievances of East Bengal, adopted a confrontational strategy to consolidate their power by merging all four western Pakistan provinces into one province. As a result, East Pakistanis were antagonized when their province, which contained the majority population, was forced to accept parity with newly-formed West Pakistan in the Parliament. The three smaller consolidated provinces—North-West Frontier Province (NWFP), Sindh and Baluchistan—also protested Punjab’s attempt to establish hegemony.
The political atmosphere was too vitiated; political instability was too acute; tensions between the different tiers of the government were so damaging; the challenge of setting up the organs of a new state was so formidable; and the influx of millions of refugees from India was too demanding. As a result, economic management took a back seat in this formative phase of Pakistan’s life.
Period II: The Golden Sixties, 1958 to 19695
Ayub Khan, the first military dictator of Pakistan, assumed complete control of the state in October 1958 and reigned over the golden period of Pakistan’s economic history. With the help of Harvard advisors, Khan vigorously implemented the Planning Commission on Economic Management and Reforms with impressive results.

Despite the failure of first five-year plans, the programmes were revived and restated by the military government. The second five-year plans gave highest priority to heavy industrial development, advancement in literature and science, and had single underlying purpose: "to advance the country as far as possible, within the next five years, along the road of these long-range objectives.
GDP growth in this decade jumped to an average annual rate of 6 percent from 3 percent in the 1950s. The manufacturing sector expanded by 9 percent annually and various new industries were set up. Agriculture grew at a respectable rate of 4 percent with the introduction of Green Revolution technology. Governance improved with a major expansion in the government’s capacity for policy analysis, design and implementation, as well as the far-reaching process of institution building. The Pakistani polity evolved from what political scientists called a “soft state” to a “developmental” one that had acquired the semblance of political legitimacy. By 1969, Pakistan’s manufactured exports were higher than the exports of Thailand, Malaysia and Indonesia combined. Though speculative, it is possible that, had the economic policies and programs of the Ayub regime continued over the next two decades, Pakistan would have emerged as another miracle economy.
However, the perception that income inequalities between the East and West had increased substantially and that wealth was concentrated in the hands of twenty-two families fuelled resentment among Bengalis who accused Ayub’s regime of reducing the East to an internal colony.
After the 1965 Indo-Pakistani War over Kashmir, FDI declined and economic constraints were imposed on Pakistan. The third five-year plan was designed along the lines of its immediate predecessor, produced only modest growth.The country had become urbanised by 1970 and 10% population lived in rural areas as compared to 1950. The third five-year plans promoted the activities of private sector investment and tend to increase the directly productive investment for the stable Financial sector development.
The third programme focused on Gross national product (GNP) growth which was increased at 122% and had focused on the enhancing the capabilities of private sector to operate in the country. The size of the third programme was determined in the light of a careful evaluation of the recent experience under the second programme. Although the third programme successfully ran for the first three years of the Third Five-Year Plan, but at the end, the third programme proved to be even more of a disappointment in terms of proclaimed production goals.The performance of the third programme was undeniable that led the economical disaster in the country. Dramatically, the agriculture growth sharply declined and desperately devastated the farming class of the country.

Authoritarian regimes devoid of legitimate political power use the instruments of state power to win or maintain coalitions, build up new alliances or take coercive measures against recalcitrant individuals and groups. Ayub’s attempt to win legitimacy, introducing the Basic Democracies system, in fact caused his regime a loss of popularity and credibility. This disaffection with the military regime was exploited by Sheikh Mujibur Rahman and his Awami League Party. The arrest and trial of Mujibur under the Agartala conspiracy case turned him into a popular leader in East Pakistan. His six-point agenda of autonomy became the manifesto of the Awami League which swept the 1970 elections in East Pakistan with a resounding majority. The reimposition of martial law and transfer of power to the Army chief, Yahya Khan, exposed the fragility of the guided democracy system.
Yahya Khan’s reluctance to transfer power to Sheikh Mujibur, the elected majority leader, reinforced Bengali suspicion and mistrust toward the Pakistani Army and West Pakistan. The post-25 March 1971 events led to a civil war that, with India’s strong backing, ended in the emergence of the independent state of Bangladesh. The break-up of Pakistan had a traumatic effect on the national psyche and negated the very concept upon which Pakistan was founded. Although East Pakistan benefited from Ayub’s economic reforms, the fact that these benefits were perceived as a dispensation from a quasi-colonial military regime to its colony—East Pakistan—proved to be lethal. According to I.A. Rehman, “[The] Central Establishment decided on a trade-off between autonomy and development but this maneuver failed in East Pakistan and it is unlikely to succeed in Balochistan and the tribal areas. The lesson is: no federating unit will surrender its rights to autonomy in exchange for any development works however huge their fall out.”
The overthrow of Ayub’s political system also reversed the economic system that had served the country so well. To outsiders, Pakistan was a model developing economy to emulate, but domestically there was a total rejection of this economic model.
The fourth five-year plans were abandoned after the successful succession of the East-Pakistan, and the brutal defeat at the hands of intense rival, India. Virtually, all fourth five-year planning was bypassed by the government of Prime minister Zulfikar Ali Bhutto. Under Bhutto, only annual plans were prepared, and they were largely ignored.
The fourth year plan was replaced by nationalization program by the then government.
Period III: The Socialist Seventies, 1971 to 1977
Zulfikar Ali Bhutto took advantage of the resentment against Ayub’s economic policies and promised to restore the principles of distributive justice and equity to the forefront of Pakistan’s development strategy under the slogan of Islamic socialism.
Bhutto’s populist policies of nationalizing industries, banks, insurance companies, educational institutions and other organizations, derailed Pakistan’s journey toward modernization and faster economic development. This setback hit Pakistan so badly that the East Asian countries that were lagging behind Pakistan in growth and economic indicators in the late 1960s not only overtook it but also became huge success stories. The oil price shock of the 1970s as well as droughts, floods and the withdrawal of external assistance did not help the situation, either. The growth rate in the 1970s fell to 3.7 percent per annum from the 6 percent recorded in the 1960s. Worst of all, the main plank on which the Bhutto government came to power social justice proved to be extremely weak. Income inequalities rose compared to the previous period while inflation accelerated, averaging 16 percent between 1971 to 1977, thereby hurting the poor.15 The large-scale manufacturing sector performed very sluggishly, netting a growth rate of only 3 percent, primarily sparked by vast public sector investment.
The idea that government control of the commanding heights of the economy can best spearhead industrial growth, allocate resources and invest in the activities that it considers a priority not only failed to materialize but antagonized the private sector. The lesson learned from this experience was that good populist politics are bad for the economy.
Period IV: The Revivalist Eighties, 1977 to 1988
The overthrow of the Bhutto government by a military coup in July 1977 and the ascendancy of a right wing military leader, General Zia ul-Haq, halted the socialist experiment. Political party activity was soon banned, thereby limiting political participation to the local level only. This small liberty, however, could not mask the centralization of political power in the hands of one man.
Zia ul-Haq used religion to provide legitimacy to his takeover and subsequent rule, asserting that Islam should be a unifying force for overcoming ethnic, linguistic and other propensities prevailing in the country. Centralization and personal control over the affairs of the state thus became easy to manage under this paradigm. The nexus between the military regime and components of the religious right, such as Jamaat-e-Islami, was extended to engulf the Islamic militant groups that participated in the Afghan war against the Soviets. The roots of present Islamic fundamentalism in Pakistan can be traced to this period.
Zia benefited from participating in the campaign to overthrow the Soviet Union in Afghanistan, as large amounts of military and economic assistance from the United States flowed into Pakistan. The long-term costs were, however, colossal. The spread of Kalashnikovs and drug culture, ethnic and sectarian violence, the smuggling of goods and the emergence ofjihadist parties can all be traced back to the 1980s.18 Madrassahs and training camps for militant groups proliferated during this period. State laws were modified, new Shariah courts were established and the educational curriculum was revised to inculcate a more hard-line or radical Islamic way of life.
Economic conditions, however, did improve:  The Fifth Five-Year Plan (1978–83) was an attempt to stabilise the economy and improve the standard of living of the poorest segment of the population. Increased defense expenditures and a flood of refugees to Pakistan after the Soviet invasion of Afghanistan in December 1979, as well as the sharp increase in international oil prices in 1979-80, drew resources away from planned investments. Nevertheless, some of the plan's goals were attained. Many of the controls on industry were liberalised or abolished, the balance of payments deficit was kept under control, and Pakistan became self-sufficient in all basic foodstuffs with the exception of edible oils. Yet the plan failed to stimulate substantial private industrial investment and to raise significantly the expenditure on rural infrastructure development.
The sixth five-year plans represented a significant shift toward the private sector. It was designed to tackle some of the major problems of the economy: low investment and savings ratios; low agricultural productivity; heavy reliance on imported energy; and low spending on health and education. GDP grew at 6.6 percent annually, with agriculture at 4 percent and the manufacturing sector at 9 percent. Fiscal deficits, however, widened to 8 percent of GDP despite a decline in development expenditure. Domestic borrowing to finance these deficits did not weaken growth immediately but had serious repercussions for public finances and macro-economic stability in the 1990s. As a consequence, Pakistan had to approach the International Monetary Fund (IMF) for assistance in 1988.
Period V: The Muddling Nineties, 1988 to 1999
Nine different governments (four interim-appointed, four elected and one following the military coup of October 1999) ruled Pakistan in this period. Like the 1950s, when eight successive governments were formed, this period saw heightened political instability. Despite far-reaching reforms introduced in 1991, economic indicators once again fell sharply in contrast with the 1980s for several reasons other than political instability.
The failure to implement successive agreements led to the loss of Pakistan’s credibility among the international financial community. The confidence of local investors eroded when the foreign currency deposits of Pakistanis were suddenly frozen. Foreign investors were unhappy as all the power purchase agreements were re-opened and criminal action was initiated against Hubco, Pakistan’s largest foreign-owned power generation company. The GDP growth rate decelerated to 4 percent. While the agriculture sector recorded higher output, growth of the manufacturing sector was low. The investment ratio fell to 13.9 percent during 1998 and 1999 as foreign savings, which formerly bridged the gap between national savings and investment, dried up in May 1998.
The persistence of fiscal (above 7 percent of GDP) and external deficits (4 to 5 percent of GDP) led to the accumulation of large levels of domestic and external debt throughout the decade. Development expenditures took a major hit and GDP dropped to 3 percent from 8 percent in the first half of the 1980s. Social sector expenditures were squeezed to accommodate higher debt service and defense expenditures. Total external debt levels became unsustainable, rising from $20 billion in 1990 to $43 billion (47.6 percent of GDP) in 1998. Exports stagnated and Pakistan lost its market share in a buoyant world trade environment. The incidence of poverty nearly doubled from 18 to 34 percent, and the unemployment rate rose as well. Social indicators lagged behind other countries in the region. The Human Development Index of the United Nations Development Programme ranked Pakistan in one of its lowest development categories.
At least four main factors determined Pakistan’s economic performance in the 1990s. First, political instability and frequent changes in the government followed by a reversal of decisions taken by the preceding government created an environment of uncertainty and a lack of predictability. Second, there was widespread mis governance by the two major political parties ruling the country during this period. Personal, parochial and party loyalty considerations dominated decision making while institutions were bypassed. Third, there was a lack of political will to make timely and difficult decisions. The cumulative effect of avoiding and postponing such decisions, coupled with the failure to correct the distortions at the right time, proved too costly. Fourth, there were unforeseen exogenous shocks, such as the nuclear testing in May 1998 that shook investors’ confidence, accelerated the flight of capital, led to the imposition of economic sanctions and disrupted external economic assistance.
An interesting paradox is that the economic policies of both major political parties, the Pakistan Muslim League (PML) and the Pakistan People’s Party (PPP), who took turns ruling during the 1990s, were similar and could not be faulted. Both parties were committed to deregulation, privatization, liberalization, greater reliance on market forces and other economic reforms. The supporters of PML and PPP argued that the dismissal of the Nawaz Sharif government in 1993 and of the Benazir government in 1996 did not allow positive trends to persist. It can only be speculated whether the economic output for the decade would have been better had these governments completed their terms in office. Poor governance would have been largely offset by the continuity in policies, programs and projects. The stop-and-go cycle faced by Pakistani economic actors imposed enormous costs in terms of macroeconomic instability.

This era marked two 5 yearly plans. The seventh plans provided for total public-sector spending of Rs350 billion. Of this total, 36.5% was designated for energy, 18% for transportation and communications, 9% for water, 8% for physical infrastructure and housing, 7% for education, 5% for industry and minerals, 4% for health, and 11% for other sectors. The plan gave much greater emphasis than before to private investment in all sectors of the economy. Total planned private investment was Rs292 billion, and the private-to- public ratio of investment was expected to rise from 42:58 in FY 1988 to 48:52 in FY 1993. It was also intended that public-sector corporations finance most of their own investment programmes through profits and borrowing.
In August 1991, the government established a working group on private investment for the Eighth Five-Year Plan (1993–98). This group, which included leading industrialists, presidents of chambers of commerce, and senior civil servants, submitted its report in late 1992. However, in early 1994, the eighth plan had not yet been announced, mainly because the successive changes of government in 1993 forced ministers to focus on short-term issues. Instead, economic policy for FY 1994 was being guided by an annual plan.
From June 2004, the Planning Commission gave a new name to the Five Year Plan - Medium Term Development Framework (MTDF). Thirty two Working Groups then produced the MTDF 2005-2010.
Period VI: The Reforming Hundreds, 1999 to 2007
In October 1999, the incoming military government was faced with four main challenges: heavy external and domestic indebtedness; high fiscal deficit and low revenue generation capacity; rising poverty and unemployment; and a weak balance of payments with stagnant exports.
The country faced a serious external liquidity problem as its reserves were barely sufficient to buy three weeks of imports and could not possibly service its short-term debt obligations. Workers’ remittances decreased by $500 million, foreign investment flows dwindled by $600 million, official transfers turned negative and Pakistan had no access to private capital markets. In the domestic sector, the declining tax-to-GDP ratio and inflexible expenditure structure, whereby 80 percent of revenues were preempted to debt servicing and defense, constrained the government’s ability to increase the level of public investment.
Structural policy reforms combined with an improvement in economic governance laid the foundations for accelerated growth from 2002 to 2007. The economic growth rate averaged 7 percent, up from 3.1 percent in 2001 to 2002. Poverty was reduced by between 5 and 10 percentage points, depending upon the methodology used. The unemployment rate also fell from 8.4 percent to 6.5 percent and approximately 11.8 million new jobs were created between 1999 and 2008. Gross and net enrollment ratios at the primary school level recorded upward movement. The re-profiling of the stock of debt brought down the debt-to-GDP ratio from 100 percent to 55 percent. Foreign exchange reserves increased to cover six months’ imports from a few weeks’ imports. The fiscal deficit remained below or slightly above 4 percent of GDP. The investment rate grew to 23 percent of GDP and an estimated $14 billion of foreign private capital inflows financed many sectors of the economy. The exchange rate remained fairly stable throughout the period.
Since then, the elected government has not pursued the unfinished agenda of reforms with the same vigor and commitment. Governance issues that characterized the 1990s have begun to rear their ugly heads once more. The situation worsened after March 2007, when the government became embroiled in a judicial crisis. The preoccupation with the impending elections resulted in serious lapses in economic management as key adjustment decisions to escalating international oil and commodity prices were postponed. The assassination of the most popular leader of the country, Mohtarma Benazir Bhutto, plunged the country into a state of uncertainty while the transition from the military to the civilian-elected government was not managed properly. Lack of attention to economic issues by the incoming government further contributed to macroeconomic instability and created an atmosphere of crisis in the country. The global financial turmoil and the recession in OECD countries did not help either. So while domestic factors were mainly responsible for Pakistan's economic crisis, adverse external conditions worsened the problem; the global financial turmoil hampered foreign private inflows and the recession in OECD countries reduced the demand for Pakistani exports.
Political Instability and Economic Growth
Pakistan has seen twenty-three governments in the past sixty years, including: fourteen elected or appointed prime ministers, five interim governments and thirty-three years of military rule under four different leaders. Excluding the military and interim governments, the average life span of a politically elected government has been less than two years. If the five-year period of Bhutto is excluded, then the average span falls to 1.6 years.
The economic policy regime, on the other hand, has only changed twice in all of Pakistan’s history. The liberal private sector-led growth model that was put in place in the 1950s and accelerated in the 1960s was rolled back by Bhutto in the 1970s and became the socialist economic model. Since the rejection of this model in 1977 and the revival of the liberal model, the general thrust of economic policy has remained unaltered.
Authoritarian vs. Democratic Regimes
In Pakistan, the debate over whether authoritarian or democratic regimes have delivered better results in terms of economic performance has been quite fierce since General Khan took power in 1958. The spurts in economic growth during the 1960s, 1980s and 2000s, when the country was governed by military dictators, have led many to conclude that authoritarian regimes are better suited to bring about economic development. Parallels are drawn with China, Indonesia, Korea and Singapore.

Detractors of the authoritarian regimes, however, have skillfully torn apart the economic performance record of the Ayub, Zia and Musharraf periods. Since the legitimacy and perpetuation of these regimes were justified on the basis of good economic outcomes, those opposed to these regimes have assailed the very economic record that has been espoused as their achievement. Such detractors lay out three arguments.

First, they argue that the United States had always been more favorably disposed toward Pakistan’s military dictators, as they are relatively more obsequious and subservient to the American interests. Thus, it is the acceleration of inflows of foreign assistance to Pakistan that led to the observed higher growth rates rather than sound economic policies, better governance and the efficient utilization of resources. Although empirical evidence to substantiate this argument hardly exists, it has become popular folklore: Ayub was rewarded for his close economic and military ties with the United States in confronting the Soviet Union; Zia ul-Haq received a boost as $5 billion was channeled through Pakistan for Afghanistan’s mujahideen; and Musharraf’s decision to openly support the United States in the war on terror brought in approximately $10 billion of military assistance.

Second, the solid record of high growth rates under military regimes is believed to result invariably in adverse distributional consequences. The Ayub period is blamed for the widening regional disparities that led to the secession of East Pakistan. Zia ul-Haq’s policies were criticized for their failure to deal with structural weaknesses or reverse the damage done by the policies of nationalization. According to Parvez Hasan, “Zia’s economic policies represented a rather sharp contrast between reasonably satisfactory short-term economic management and an almost total neglect of long-term policy issues. The long period of political stability and sustained growth under Zia ul-Haq offered major opportunities for dealing with the underlying structural issues but these were not exploited.” Musharraf’s economic strategy, which made Pakistan one of the fastest growing Asian economies, was also dismissed on the same grounds: that consumer-led, credit-induced, service-focused growth neglected agriculture and the manufacturing sectors, making the rich richer and the poor poorer. While the World Bank and Asian Development Bank publicly acknowledged a significant decline in the incidence of poverty and International Labor Organization (ILO) experts validated the fall in the unemployment rate, the authenticity of the poverty and unemployment data has been challenged. It became the norm to practice selective acceptance of government-produced data showing negative trends and outright rejection of the data from the same source showing positive trends.
The third line of argument is quite persuasive. Economic accomplishments devoid of political legitimacy, however impressive they may be, prove to be short lived. Without the involvement and participation of the people, elegant and technically sound economic solutions developed by authoritarian regimes are quickly replaced once the regime changes, causing irreparable losses to the economy. The recent example whereby good initiatives taken by the Musharraf regime were either suspended deprived of funds or abolished completely attests to this phenomenon. Some of these initiatives, such as revitalizing higher education and expanding adult literacy and health programs have been brought to a grinding halt. The Devolution Plan of 2001, which decentralized the delivery of basic services to local levels, is at serious risk of abandonment.
The phenomenon of abandoning the previous government’s plans and policies is not confined to the military-civil transitions but also from one elected civilian government to the other. Benazir Bhutto rightly embarked upon public-private partnerships by inviting independent power producers (IPPs) from the private sector to set up electricity generation plants to overcome power shortages. The IPPs were put on hold by the new government, which alleged that corruption was involved in the awarding of contracts. In another example, the incoming Bhutto government suspended the motorway project initiated by the Nawaz Sharif government. By the time the project had resumed, time delays, cost over-runs, contract cancellations and legal entanglement had reduced the efficacy of the project.
Both the civilian-elected and military regimes have demonstrated the same characteristics and weaknesses—personality cult leadership, centralized decision-making, repression of opponents and cronyism. When one goes beyond labels and examines the actual behavior of military and civilian regimes, most distinctions appear superficial.
Pakistan has over the last sixty years been an authoritarian polity both under the civilian as well as military regimes. ‘Authoritarianism’ involves great relevance and obedience to authority and stands opposite to individualism and freedom that come with it. Both the civilian leaders coming from an agrarian and feudal social background and military leaders from the Command and Control structure of the armed forces have demanded absolute loyalty and compliance with their institutions of origin.
Policy Implications:
 There has been a broad consensus among all major political parties on the general principles that should underpin Pakistan’s economic direction, namely:
•   Central planning and bureaucratic judgment are poor substitutes for the market’s judgment in the allocation of scarce resources.
•   Licensing to open, operate, expand and close business by government functionaries should be discouraged.
•   Public sector ownership and management of business, production, distribution and trade leads to inefficiency, waste and corruption.
•   Over-regulation, controls and restrictions of all kinds on the private sector hike up the cost of doing business.
•   High tax rates on individuals and corporations are counterproductive as they discourage effort and initiative.
•   Banks and financial institutions owned and managed by the public sector offering cheap credit and/or directed credit have a pernicious effect on economic growth.
•   Administered prices of key commodities are the worst possible means of insulating the poor segment of the population from the onslaught of market forces.
•   Subsidies on inputs such as fertilizers, seeds, water, etc., incur heavy budgetary costs and benefit the well-to-do classes rather than the poor.
•   Foreign investment and multinational corporations are to be encouraged as they are important conduits for the transfer of technology, managerial skills and organizational innovation.
While the government’s implementation of policies, programs and projects has seen uneven and mixed results, the initiative in driving the economy can be credited to the private sector.
The agricultural sector, representing 20 percent of GDP, is owned and managed by private farmers. Manufacturing, with a few odd exceptions, is under the control of private firms. Wholesale and retail trade, transportation (with the exception of railways and Pakistan International Airlines), personal and community services, finance and insurance, ownership of dwellings and the construction sector all fall within the purview of the private sector. Only public administration, defense services and public utilities are directly managed and operated by the government. Imports and exports of goods and services are also privately managed. A rough approximation would indicate that goods and services produced, traded and distributed by the private sector amount to 90 percent or more of the national income while the government directly or indirectly owns, manages, controls or regulates the remaining 10 percent of national income. So it is the strength of private initiative, with all its flaws, operating in a relatively liberal policy environment, that has been the main driver of long-term economic growth in Pakistan.
In Pakistan, transitions from one political regime to another have been quite difficult, causing uncertainty and short-term reductions in the speed of economic growth. The transfer of power from the military to civilian regimes in 1971, 1988 and 2008 were marked with macroeconomic instability, a slowdown in economic activities, rising unemployment and inflation and the adoption of a wait-and-see attitude by investors. But economic recovery has also been resilient; short-term losses caused by political volatility have not been large enough to offset the positive long-term secular economic movement.

Business Administration / Micro credit and Balance of Payment
« on: November 25, 2017, 11:41:42 AM »
The balance of payments, also known as balance of international payments and abbreviated BoP, of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year). These transactions are made by individuals, firms and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country. It represents a summation of country's current demand and supply of the claims on foreign currencies and of foreign claims on its currency[1] .[2] These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers. It is prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items.
When all components of the BOP accounts are included they must sum to zero with no overall surplus or deficit. For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down central bank reserves or by receiving loans from other countries.
Micro credit :
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment and a verifiable credit history. It is designed not only to support entrepreneurship and alleviate poverty, but also in many cases to empower women and uplift entire communities by extension. In many communities, women lack the highly stable employment histories that traditional lenders tend to require. Many are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million men and women held microloans that totalled US$38 billion.Grameen Bank reports that repayment success rates are between 95 and 98 percent.
Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983. Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. As of 2012, microcredit is widely used in developing countries and is presented as having "enormous potential as a tool for poverty alleviation.

Business Administration / Problems of FDI in Bangladesh
« on: November 24, 2017, 10:00:53 AM »
Problem of direct foreign investment in Bangladesh
Bangladesh is an over populated under develop country of the world. The peoples of Bangladesh are mostly unskilled and depend in Agriculture. The political situation of the country still depends on some groups but the people’s participation on democratic process is becoming very effective process id becoming very effective. Now the investors are facing some problems to run their business in this country. The most of the problems are not attending by the Government due to their administrative inefficiency and lack off political commitments. The problems which creating problems to the investors are;
o Low and order conditions
o Government bureaucracy
o Port situations
o General strikes and political activity to shut the economic activities
o Power, Communication and other utility services
o Trade union activities outside the EPZ areas
o Rivalry between main political parties
o Shortage of skill human resources
The above problem is present in Bangladesh. The peoples need still to investment by the foreigners. The last 10 to 15 years the Government takes many programs to accelerate the foreign investments in Bangladesh.
          1)The area of Telecommunication developed rapidly in last few year and three is still some problems to be attending, and privatization in this industry in very remarkable particularly in cellular telephone.
1)   Power generation sectors are open to foreign and private investors to eliminate the bureaucracy and monopoly of Government owned powers authority. The government relaxed rules and regulation to installed power station or gas generators for industrial use
2)   2. Port facility still not full fills the requirements of the exporters and importers. In this situation government decided to give permission to establish private ports in Chittagong which is under negotiation.
3)   3. The political situation also improving and last 03 governments take after an acceptable electoral process which is a symbol of improvement in domestic process in Bangladesh. The hopes are near to the reality to eliminate the political rivalry between the main political parties. Boycotting the parliament is bed sign for our democratic process, the good thing is that the people realizing. The role of the parliament should be as a canter of all political debates.
4)   5. The role of civil society becomes effective to create pressure on political government to move in favors of public interest. To make people comments in this regard, the role of media also important. In last one decade the freedom in media improved, and printed media are enjoying a very good atmosphere than last decade. Electronic is the media which enjoying freedom at specific area of government authorization.
5)   5. Development of human resources is not up to the mark as per requirements of the country. To complete in global market a well as participation in countries internal development activities, the development of Human resource is very essential. Government, Local and international development agencies take part to develop the human resources of the country. The 50% of the population of the country is female, so the activities by the local and international Non Government organization emphasis to develop them. This is a good sign for develop Human resources of the country.
6)   6. Law and order situation if the country is very poor. The faith in law enforcement authority is very low and it hears to believe by the people that the law enforcement authority could do their job according to requirement of the people. The government main political party also realizes it, and the pressure is increasing continuously. The optimistic believed that the situation will be changed.
•   7.Trade union activity if the country basically revolves in government owned enterprise and the activated in private enterprise in an acceptable condition except in transport industries and jute mills in Bangladesh. Most of the multinational enterprise trade union activity now in a quite and peace full. The law protects the trade union activity in export processing zone area; the government has established privatization board to privatization the government owned enterprise. Through successful privatization will make the enterprise profitable and it is assumed that the good management can reduce the labor dissatisfaction.

Business Administration / NGO in Bangladesh
« on: November 24, 2017, 10:00:15 AM »
NGOs in BD :

•   NGO activities in Bangladesh focused initially on relief and rehabilitation
works, and later on raising villager income by improving productivity (which
NGOs endeavored to bring about through developing agricultural techniques
as well as villagers' skills in sideline jobs) and by disseminating information on
public sanitation and other social problems. The premise of the NGO efforts
was that the unit of production in the village was the individual farming family.
Villager organizations were to be intermediaries passing on the skills and
information supplied by the NGOs.

•   Ideally, the structure of BRAC-PROSHIKA groups forms the basis for
collective development activities. In practice, there was considerable regional
variation in the social unity of different BRAC-PROSHIKA groups.
Rural development activities in which BRAC VO members participate encompass
an array of savings and credit programs, poultry raising, nutrition, participatory
livestock development, vegetable production, plant nurseries, social forestry,
sericulture, fishery, micro-enterprise development, tissue culture, income generation for vulnerable groups, environment protection, and a host of social developments, such as village meetings, education, health services, village society and popular theater. In addition to these activities.

•   PROSHIKA group members participate in irrigation, apiculture, housing, health infrastructure building and disaster management. A fund created with individual subscriptions provides revolving funds for several development works. Under the savings group scheme, villagers voluntarily deposit a small amount of money each month with the group, and the accumulated money is lent at low interest to members of the group.

•   For one thing, GO-NGO provide only the idea and knowhow for setting up and operating the savings groups; the monetary funding which is the basic resource of the groups is conducted wholly by the villagers.

•   For another, the management and the use of the funds are left totally to the collective decision making of the villagers themselves. In other words, the villagers promote economic and social development through the cooperative management of their own private resources. It was realized that savings groups would not succeed where villagers could not form relationships of mutual trust so organizing groups at the village grassroots level proved inevitable. Through the micro-credit programs, BRAC and PROSHIKA are playing a leading role in spearheading the collective action led growth momentum in the rural areas.

•   BRAC-PROSHIKA educational programs have greatly reduced illiteracy and empowered rural populations that had very little access to formal education. The activity of PROSHIKA is the people's cultural program, which is a tool for raising awareness of collective enterprise to gain access to resources and to combat social ills. Theater troupes are organized to bring into the open the aspirations, joys, and sorrows of the rural poor. The songs, ballads, and dramas are improvised and performed by the villagers. Through these performances, audiences not only derive entertainment but also become conscious of policy issues and proposed solutions. Issues such as social injustice, dowry, gender discrimination, illiteracy, unjust possession of public resources by the power elites, superstition in health practices, degradation of natural environment and its adverse consequences, and the positive impact of various development actions on the lives of the people constitute elements for dramatic presentation.

•    Many factors contribute to the medium's effectiveness, including the fact that the cultural troupes are formed to include villagers, who can draw lessons directly from their own life experiences. Performances take place in a familiar setting, such as the courtyard of a group member's house or a village fair; the language of the performances articulates the audiences' own life and makes it easily comprehensible.
•   PROSHIKA group members also organize folk cultural festivals every year in suitable locations;
there, people from different area development centers gather by the thousands and participate in a variety of traditional but lively cultural activities.

•   BRAC and PROSHIKA play several distinct roles in the rural development of
Bangladesh. They are: (i) consciousness raising or value introjection for working
together, (ii) setting agendas for poverty alleviation and rural development
through group formation and collective action, (iii) human resource development to have greater access to other resources, (iv) direct action to implement
individual and collective commitments, and (v) regenerating and regularly
monitoring individual and collective capacities for productive activities.

•   Through cooperative ventures, the rural poor are graduating to more secure
occupations, marking a gradual shift from uncertain and contingent agricultural
wage employment to self-employment through skills acquisition and involvement
in promotional network.

•   The BRAC-PROSHIKA training courses on organizational development and
skill formation present proxy attempts to enhance the prospects for cooperation
by providing economic incentives to cooperation and promoting understanding
of mutual dependencies.

•    Funds were also raised by utilizing personal connections and group initiatives. A number of vigilante teams were deployed to look after the embankment especially during night on a rotating basis so that the embankment remained intact.

Business Administration / Export and Import of Bangladesh
« on: November 24, 2017, 09:59:51 AM »
Export :
Like many other third-world countries, Bangladesh relies quite heavily on exports to provide for the needs of its densely populated nation. The same products sold locally will generally fetch a much lower price than they would on the international market. This means that it is far more profitable for the country to engage in exportation than it is to engage in local trade. While this may mean that a large percentage of the countries GDP is sent off abroad as Bangladesh exports instead of being enjoyed by the country’s own people, it also allows for a steady influx of foreign currency.
Currently Bangladesh’s main export items are garments, jute and jute-related goods, leather, frozen fish and seafood. Just three years ago the country made over $2,000 billion from export trade. The majority of the country’s trade is conducted with the USA but a small portion of exports also sees its way to Germany, the UK, France and Italy. However these figures should not mislead you into thinking that the country is well-off. As one of the poorest and most densely populated countries in the world, the majority of these profits will generally make their way into the pockets of a few wealthy while the rest will be thinly spread out amongst those involved in the production of these goods. To add to this, the country’s economy depends on an erratic monsoon cycle as well as drought and flooding which makes regular harvesting difficult.
Besides these Bangladesh exports, the country is also engaged in the production of rice, tea, sugar wheat, ship scrap metal, textiles, fertilizer, pharmaceuticals, ceramic tableware and newsprint. Though yields can at times be quite high, the country still faces widespread poverty and it is struggling to free itself from this. Some progress has been made, but there are still many people living below the breadline in Bangladesh.
Definition on Import:
Buying of goods & services from foreign countries for sales is considered as import. The person or organization who import the goods & services from foreign countries is known Importer and from which goods & services are imported is known as Exporter. In case of Import, the importers are asked by their Exporters to open a Letter of Credit (L/C). So that there payment against goods & services is ensured.
Animals and animal products (general)
A health certificate is required for certain animals, particularly livestock.
A sanitary certificate is required for fish and fish products.
Imports of live swine and products thereof are prohibited.
Pig and poultry fat, pig hair, eggs (except hatching eggs), lard, lard oil, tallow oil and other animal products are prohibited from import.
Animals: Live
Imports of fish and fish products require a sanitary inspection certificate.
A health certificate is required for livestock.
Imports of live swine are prohibited.
Animal products: Dairy
Eggs are prohibited.
Radioactivity tests (pre-shipment) are required for imports of milk, milk food, and milk products.
Specific packaging and labeling requirements apply to milk products, baby food products made from milk and milk products with cream.Milk and any products containing milk may be imported in cans and in bulk. The container must indicate the ingredients in Bangla and also must show the manufacturing and expiration dates in Bangla or English. For more detailed information see Import Policy Orders.
Animal products: Meat
General requirements for shipping meat and meat products (applicable to most countries):
•   For importation, meat shipped fresh or frozen requires specified inspection and health certification (e.g., a meat inspection certificate) issued by the government of the country of export. Meat must be free of filth, and must be deemed fit for consumption by health officials in the destination country before release for distribution. Meat that has been processed and packaged in such a way as to prevent spoilage during distribution, is subject to generally applicable requirements for importation of processed foods.
Animal products: Seafood
Imports of fish and fish products require a sanitary inspection certificate.
•   "In case of import of canned fish, the date of manufacture, the date of expiry and net weight shall be clearly embossed or computer printed in permanent ink in Bangla or in English on its container and printed label shall not be pasted on the container separately."
Plants and plant products (general)
A phytosanitary certificate is required for the import of most plants and plant products. Fruits and vegetables, except potatoes, are exempt from this requirement.
An additional certificate is required for leaf tobacco.
Raw sugar, poppy seeds and dried posto dana, ghas, bhang, and opium are prohibited.
Tobacco products
An additional certificate is required for leaf tobacco.

Food products (general)
All food products require a certification "from the government of the exporting country or from appropriate approved agency to the effect that the item is 'fit for human consumption', 'that it does not contain harmful ingredients', or that 'it is free from all kinds of harmful germs.' Such a certificate shall mention the age group for which the item is eligible for consumption."

Business Administration / Economic indicator of Bangladesh 2017
« on: November 24, 2017, 09:58:34 AM »
    Economic indicator of Bangladesh 2017
Bangladesh is considered as a developing economy. Yet, almost one-third of Bangladesh’s 150m people live in extreme poverty.
In the last decade, the country has recorded GDP growth rates above 5 percent due to development of microcredit and garment industry. Although three fifths of Bangladeshis are employed in the agriculture sector, three quarters of exports revenues come from producing ready-made garments

    GDP = 7.05%

    GDP = 221.42 USD

    GDP Annual Growth Rate  =7.11 %

    GNP = 9350.98 BDT Billion

    GDP Per Capita = 1029.60 USD

    Unemployment rate = 4.1 %

    Inflation Rate = 5.57 %

    Interest Rate = 6.75 %

    Balance of Trade = -76.8 BDT Billion

    Government Debt to GDP -27.2 %

    GDP per capita PPP= 3319.40 USD

    GDP From Agriculture =9922.80 BDT Million

    GDP From Construction=6172.90 BDT Million

    GDP From Manufacturing = 17600.10 BDT Million

    GDP From Services = 118665.00 BDT Million

    GDP From Transport =9636.10 BDT Million

    Consumer Price Index CPI = 237 Index Points ( monthly )

    GDP Deflator =196 % Yearly

    Remittances = 1116 USD Million Monthly

    Government Budget = -4.7 % of GDP Yearly

    Bangladesh Imports at 262.60 BDT Billion

    Bangladesh Exports at 185.79 BDT Billion

    Bangladesh | Credit Rating at 40.00

    Bangladesh Export Prices at 182.34 Index Points

    Bangladesh Terms of Trade at 86.05 Index Points

    Bangladesh Employed Persons at 60.00 Quarterly

    Bangladesh Gold Reserves at 13.97 Tones

    Money Supply M0 =1513 BDT Billion Monthly

    Money Supply M1 =2400785 BDT Million Monthly

    Money Supply M2 =10161 BDT Billion Monthly

    Money Supply M3=11872800 BDT Million Monthly

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