Monday, May 30, 2011

State Bank of Pakistan (SBP) announced new account opening policy

Karachi: State Bank of Pakistan (SBP) announced new policy for account opening for individuals- students, low-income people and Zakat entitled people specially.
A new policy release by SBP depicts that any individual can open bank account with minimum of Rs. 100, which will be implemented from July 1, 2011.

In addition to this, SBP directed all scheduled banks to lift the service charges on the minimum balance. Previously banks were entitled to receive some charges as account balance decrease from minimum level, which was Rs. 500.

This has been welcomed largely in the masses and economist too. Experts view this policy as blood to the economy. According to the opinion, most of the population of the country belongs to the lower income group, which was deprived of banking services due to high service charges and minimum balance requirement. Now those people will access the banking services at cheaper price like never offered before. There is trickle down effect of the policy, those deposits, expected to grow manifolds, will be injected in the economy in the form of investment.

Many steps are to be taken in future to prosper the economy.

Saturday, May 14, 2011

Pornography found in Osama's hideout in Abbottabad, Pakistan

Officials: Pornography found in Osama's hideout in Abbottabad, Pakistan, consists of latest and modern, lustful video. An officials said on the anonymity basis.
Moreover, officials claimed they are unable to say whether Osama was viewing those videos or anyone else.
According to the Osama's wife, living with him, he remained in the compound for five years, he never came out of it. This makes suspicious whether he had been viewing those videos.
Someone said he never came out of it, so he could have desire of waxing his carrot, might be the reason of viewing those films.
According to earlier US Officials statements, Osama's compound was cut off from internet and other wires, so question arises whether those DVDs are left by US army over there?

Monday, May 9, 2011

Pakistan's economic condition after OBL's death

May 02, 2011 was the day of celebration around the world because world's most wanted man ($ 250 million) was killed in Abbotabad Pakistan. An operation was taken place by US military at 1 am PST. In the morning President of United States Barak Obama announced the news.
Here I'm not going to discuss what happened on that day because you people are much vigilant than me. Moreover, I'm not looking into conspiracy theories. The purpose of putting words here is to describe economic conditions of Pakistan after the event.

It was very difficult to get gasoline on the very first day when Osama was killed. The fiasco doesn’t end until now. It is very difficult to get tanks of vehicle filled at premium price even.

If I depict the picture of the stock market of Pakistan - Karachi stock market pronounced widely as KSE, is very horrible. Since January it was observing the bullish trend and touched the level of 12000 points. But on the second day of OBL’s death it started losing the confidence of foreign investors and punters too. On that day KSE-100 index lost more than 300 points and it is declining.

Moreover, US aid is the big injection in the economy of Pakistan but yesterday US senator has asked president to stop supporting Pakistan, which is ruining the economy. Foreign investors are reluctant to invest in such situation.

I must say world should back the Pakistan in this critical situation because it has suffered a lot due to terrorism, it’s time to support Pakistan at very front.