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Revisiting Jinnah’s economic vision: A blueprint for Pakistan’s sustainable future Amid Pakistan’s economic challenges, Jinnah’s vision offers invaluable insights for shaping sustainable future As we commemorate Quaid-i-Azam Muhammad Ali Jinnah’s birth anniversary, it is crucial to revisit his economic vision for Pakistan. His aspirations for the nation were not confined to political independence but also encompassed building a strong, self-reliant, and welfare state. Amid Pakistan’s persistent economic challenges, Jinnah’s vision offers invaluable insights for shaping a sustainable future. Understanding his economic outlook, especially for the youth, is key to empowering them to transform the country’s economic future. Quaid-i-Azam believed that economic freedom and independence were fundamental to nation-building. In his inaugural address to the State Bank of Pakistan in 1948, he emphasised, “The adoption of Western economic theory and practice will not help us in achieving our goal of creating a happy and contented people.” This statement highlights the need for innovative and context-specific economic solutions. Today, Pakistan’s dependence on foreign debt poses a serious challenge to its sovereignty. As of 2024, Pakistan’s external debt stands at over $100 billion, with annual debt servicing consuming a substantial portion of the national budget. In the fiscal year 2023-24, debt servicing accounted for approximately 40% of the country’s total expenditures, reflecting the growing burden of foreign loans. Jinnah’s economic vision was influenced by his understanding of commerce and trade. Coming from a business family, he knew the importance of economic equity and opportunities for all citizens. During his studies in England, he observed the benefits of trade, investment, and industrialisation in Western economies, which shaped his belief in fostering a robust and inclusive economy. In the Quaid-i-Azam Papers, written by Zawar Hussain Zaidi, it is stated that for Jinnah, “commerce and trade are the very lifeblood of a nation.” Jinnah emphasised the significance of investing in the future. To reduce dependency on foreign debt, Pakistan must focus on developing local industries, improving resource management, and fostering innovation. Aligning policies with Jinnah’s vision of economic autonomy can help the country reduce its reliance on external financial assistance and create a more self-sustaining economic system. 1. Industrialisation: The backbone of economic prosperity Jinnah understood the crucial role of industrialisation in a nation’s economic success. Despite Pakistan’s limited resources at the time of independence, he championed industrial development through initiatives like the Pakistan Industrial Development Corporation (PIDC), which played a pivotal role in early industrial growth. However, over the years, industrial progress has stagnated. Pakistan’s reliance on imports and underdeveloped manufacturing sector underscores the need to revitalise Jinnah’s vision of a self-reliant industrial base, crucial for job creation, export and sustainable economic development. 2. Economic justice and equitable wealth distribution Jinnah’s economic vision was rooted in justice and fairness, with economic equity as a cornerstone for development. He believed that persistent inequality stifles productivity for a significant segment of the population, undermining overall growth. Quaid-i-Azam emphasised equality as fundamental to Pakistan’s economic plan. At a public meeting in Chittagong, he highlighted, “The great ideals of human progress, of social justice, of equality, and of fraternity constitute the basic causes of the birth of Pakistan.” After Pakistan’s independence, Jinnah expressed his dissatisfaction with the Western economic system, which he believed failed to provide an equitable framework globally. He advocated for a system that avoided widening the gap between the rich and the poor. Unfortunately, Pakistan has struggled to fulfill this vision. Rising inequality, ineffective redistribution mechanisms, and a widening wealth gap continue to hinder progress. Implementing Jinnah’s ideals through progressive taxation and targeted social welfare programs can help address these disparities. 3. Financial discipline and good governance Financial discipline was central to Jinnah’s policies. He warned against corruption, inefficiency, and resource mismanagement-issues that remain relevant today. However, these principles have often been ignored, leading to fiscal mismanagement, wasteful expenditures, and eroded public trust. Pakistan ranks 136th out of 167 countries in the Prosperity Index, based on indicators such as personal freedom, investment environment, and governance. Despite moving up 12 places since 2011, governance weaknesses, particularly in accountability and institutional capacity, continue to pull rankings down. To honour Jinnah’s legacy, Pakistan must enforce strict anti-corruption measures, improve governance transparency, and adopt prudent fiscal policies. These steps are crucial to restoring public confidence and achieving sustainable economic growth. 4. Role of trade and international relations in spurring economic growth Quaid-i-Azam envisioned Pakistan as a trade hub, leveraging its geo-political location to strengthen ties with neighbours, the Muslim world, and the West. Despite this vision, poor trade policies and geopolitical challenges have hindered progress. In FY 2023-2024, Pakistan’s merchandise exports grew by 10.54%, reaching $30.64 billion, contributing 23% to the GDP. However, Pakistan’s share in global merchandise trade remains at just 0.34%, reflecting untapped potential. Initiatives like the Special Investment Facilitation Council (SIFC), improved trade agreements, and export market diversification are critical to increasing this share. Reviving Jinnah’s emphasis on trade and economic diplomacy can help Pakistan integrate more effectively into the global economy, enhancing economic stability and growth. 5. Welfare state aspirations Jinnah aspired to create a welfare state where every citizen had access to basic necessities, including education, healthcare, and housing. He envisioned a system that balanced free-market principles with social responsibility, emphasising the state’s role in uplifting the underprivileged. According to the Human Development Report 2023-2024, Pakistan’s Human Development Index (HDI) value stands at 0.540, placing it in the “low” development category and ranking 164th out of 193 countries. Key factors contributing to this low ranking include a life expectancy of just 66.1 years, a gross national income (GNI) per capita of $4,600 (PPP), and significant challenges in education and healthcare. In comparison, India ranks 132nd, and Bangladesh ranks 129th. Pakistan’s failure to meet Jinnah’s welfare aspirations reflects inadequate investment in public services and resultant rising poverty levels. Bridging this gap requires significant investment in human development, particularly in education and healthcare, as well as targeted social welfare programs. 6. Economic integration of provinces Jinnah was fully aware of the economic disparities among Pakistan’s provinces and the need for integration to promote national unity. He advocated for equitable resource sharing and inclusive development to address regional grievances. His vision aimed at fostering inter-provincial harmony as a means of strengthening national solidarity. Today, tensions over fiscal allocation and resource management remain significant challenges. Projects like the China-Pakistan Economic Corridor (CPEC) have highlighted disparities in regional development and the need for more inclusive policies. Addressing vertical and horizontal imbalances in federal-provincial financial distribution is crucial for realising Jinnah’s vision. Policies that promote equitable economic opportunities and resource sharing across provinces can ensure sustainable and harmonious growth. Lessons for modern Pakistan Jinnah’s economic vision offers critical lessons for addressing Pakistan’s current challenges: * Reduction in debt dependency: Prioritise self-reliance by reducing foreign loans and focusing on domestic resource mobilization. * Employment opportunities: Promote industrialisation and vocational training to create jobs. * Curbing corruption: Strengthen accountability mechanisms and transparent governance to restore trust in public institutions. * Be a facilitator: Institutions like the Special Investment Facilitation Council (SIFC) can help implement investment-led growth and inclusive reforms. Quaid-i-Azam Muhammad Ali Jinnah’s economic vision remains a beacon of hope for Pakistan. His ideals of self-reliance, economic justice, and disciplined governance offer a roadmap for addressing the nation’s pressing challenges. As we honour his legacy, it is crucial for policymakers and citizens alike to align with his vision, ensuring a prosperous future for Pakistan. By fostering productivity, reducing dependency on foreign debt, and promoting inclusive growth, Pakistan can build a more equitable and sustainable economy. -The author is a political economist and the recipient of the prestigious Martin Luther King Award.how big is meganium 。

27 Versatile Clothing Pieces That’ll Basically Give You Endless Outfit Options...So You Should Pack ‘Em For Your Next TripBiden will decide on US Steel acquisition after influential panel fails to reach consensus WASHINGTON (AP) — A powerful government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel. The Committee on Foreign Investment in the United States on Monday sent its long-awaited report to President Joe Biden, a longtime opponent of the deal. Some federal agencies represented on the panel were skeptical that allowing a Japanese company to buy an American-owned steelmaker would create national security risks. That's according to a U.S. official familiar with the matter. Both Biden and President-elect Donald Trump opposed the merger and vowed to block it. Nippon Steel says it is confident the deal will go ahead. Nissan and Honda to attempt a merger that would create the world's No. 3 automaker TOKYO (AP) — Japanese automakers Nissan and Honda have announced plans to work toward a merger that would catapult them to a top position in an industry in the midst of tectonic shifts as it transitions away from its reliance on fossil fuels. The two companies said they signed an agreement on integrating their businesses on Monday. Smaller Nissan alliance member Mitsubishi Motors agreed to join the talks. News of a possible merger surfaced earlier this month. Japanese automakers face a strong challenge from their Chinese rivals and Tesla as they make inroads into markets at home and abroad. What a merger between Nissan and Honda means for the automakers and the industry BANGKOK (AP) — Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda will initially lead the new management, retaining the principles and brands of each company. Following is a quick look at what a combined Honda and Nissan would mean for the companies, and for the auto industry. Survey: Small businesses are feeling more optimistic about the economy after the election A survey shows small business owners are feeling more optimistic about the economy following the election. The National Federation of Independent Businesses’ Small Business Optimism Index rose by eight points in November to 101.7, its highest reading since June 2021. The Uncertainty Index declined 12 points in November to 98, following October’s pre-election record high of 110. NFIB Chief Economist Bill Dunkelberg said small business owners became more certain about future business conditions following the presidential election, breaking a nearly three-year streak of record high uncertainty. The survey also showed that more owners are also hoping 2025 will be a good time to grow. Heavy travel day starts with brief grounding of all American Airlines flights WASHINGTON (AP) — American Airlines briefly grounded flights nationwide due to a technical problem just as the Christmas travel season kicked into overdrive and winter weather threatened more potential problems for those planning to fly or drive. Government regulators cleared American flights to get airborne Tuesday about an hour after the Federal Aviation Administration ordered a national ground stop, which prevented planes from taking off. American said in an email that the problem was caused by vendor technology in its flight operating system. Aviation analytics company Cirium said flights were delayed across American’s major hubs, with only 37% leaving on time. Nineteen flights were cancelled. Nordstrom to be acquired by Nordstrom family and a Mexican retail group in $6.25 billion deal Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. Nordstrom shareholders will receive $24.25 in cash for each share of Nordstrom common stock, representing a 42% premium on the company’s stock as of March 18. Nordstrom’s board of directors unanimously approved the the proposed transaction, while Erik and Pete Nordstrom — part of the Nordstrom family taking over the company — recused themselves from voting. Following the close of the transaction, the Nordstrom Family will have a majority ownership stake in the company. Stock market today: Wall Street rallies ahead of Christmas Stocks closed higher on Wall Street ahead of the Christmas holiday, led by gains in Big Tech stocks. The S&P 500 added 1.1% Tuesday. Trading closed early ahead of the holiday. Tech companies including Apple, Amazon and chip company Broadcom helped pull the market higher. The Dow Jones Industrial Average rose 0.9%, and the Nasdaq composite climbed 1.3%. American Airlines shook off an early loss and ended mostly higher after the airline briefly grounded flights nationwide due to a technical issue. Treasury yields held steady in the bond market. The yield on the 10-year Treasury was little changed at 4.59% An analyst looks ahead to how the US economy might fare under Trump WASHINGTON (AP) — President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally. In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. It came despite low unemployment and steady growth under the Biden administration. What lies ahead for the economy under Trump? Paul Ashworth of Capital Economics spoke recently to The Associated Press. The interview has been edited for length and clarity. American consumers feeling less confident in December, Conference Board says American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Consumers had been feeling increasingly confident in recent months. The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. The measure of Americans’ short-term expectations for income, business and the job market tumbled more than a dozen points to 81.1. The Conference Board says a reading under 80 can signal a potential recession in the near future. Stock market today: Wall Street rises at the start of a holiday-shortened week Stocks closed higher on Wall Street at the start of a holiday-shortened week. The S&P 500 rose 0.7% Monday. Several big technology companies helped support the gains, including chip companies Nvidia and Broadcom. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 1%. Honda's U.S.-listed shares rose sharply after the company said it was in talks about a combination with Nissan in a deal that could also include Mitsubishi Motors. Eli Lilly rose after announcing that regulators approved Zepbound as the first prescription medicine for adults with sleep apnea. Treasury yields rose in the bond market.

IT Assessment and Optimization Market Is Booming So Rapidly | Major Giants IBM, EY, PwC, Capgemini 12-24-2024 05:42 PM CET | Advertising, Media Consulting, Marketing Research Press release from: HTF Market Intelligence Consulting Pvt. Ltd. IT Assessment and Optimization Market HTF MI recently introduced Global IT Assessment and Optimization Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are IBM, Deloitte, PwC, Capgemini, Tata Consultancy Services, Cognizant, Infosys, EY, KPMG, BMC Software, ServiceNow, VMware, Rackspace, Dynatrace, SolarWinds. Download Sample Report PDF (Including Full TOC, Table & Figures) 👉 https://www.htfmarketreport.com/sample-report/4108586-it-assessment-and-optimization-market-1?utm_source=Akash_OpenPR&utm_id=Akash According to HTF Market Intelligence, the Global IT Assessment and Optimization market is expected to grow from 16 Billion USD in 2024 to 40 Billion USD by 2032, with a CAGR of 12% from 2024 to 2032. The IT Assessment and Optimization market is segmented by Types (Performance Analysis, Cost Reduction, Workflow Optimization, Security Assessments), Application (BFSI, Retail, Healthcare, Manufacturing) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA). Definition: This market includes services to evaluate and enhance IT systems' efficiency. Businesses optimize IT infrastructure, reduce costs, and align technology with strategic objectives. Dominating Region: • North America Fastest-Growing Region: • Europe Market Trends: •Automation Tools, Real-Time Analytics, Unified Dashboards Market Drivers: •Cloud Migration, IT Cost Optimization, Security Needs Market Challenges: •Complexity in Legacy Systems, Cost of Consulting, Change Resistance Have a query? Market an enquiry before purchase 👉 https://www.htfmarketreport.com/enquiry-before-buy/4108586-it-assessment-and-optimization-market-1?utm_source=Akash_OpenPR&utm_id=Akash The titled segments and sub-section of the market are illuminated below: In-depth analysis of IT Assessment and Optimization market segments by Types: Performance Analysis, Cost Reduction, Workflow Optimization, Security Assessments Detailed analysis of Tank Container Shipping market segments by Applications: BFSI, Retail, Healthcare, Manufacturing Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions: • The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.) • North America (United States, Mexico & Canada) • South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.) • Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.) • Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia). Buy Now Latest Edition of IT Assessment and Optimization Market Report 👉 https://www.htfmarketreport.com/buy-now?format=1&report=4108586?utm_source=Akash_OpenPR&utm_id=Akash IT Assessment and Optimization Market Research Objectives: - Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years. - To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks). - To analyze the with respect to individual future prospects, growth trends and their involvement to the total market. - To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market. - To deliberately profile the key players and systematically examine their growth strategies. FIVE FORCES & PESTLE ANALYSIS: In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry. • Political (Political policy and stability as well as trade, fiscal, and taxation policies) • Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates) • Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles) • Technological (Changes in digital or mobile technology, automation, research, and development) • Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions) • Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability) Get 10-25% Discount on Immediate purchase 👉 https://www.htfmarketreport.com/request-discount/4108586-it-assessment-and-optimization-market-1?utm_source=Akash_OpenPR&utm_id=Akash Points Covered in Table of Content of Global IT Assessment and Optimization Market: Chapter 01 - IT Assessment and Optimization Executive Summary Chapter 02 - Market Overview Chapter 03 - Key Success Factors Chapter 04 - Global IT Assessment and Optimization Market - Pricing Analysis Chapter 05 - Global IT Assessment and Optimization Market Background or History Chapter 06 - Global IT Assessment and Optimization Market Segmentation (e.g. Type, Application) Chapter 07 - Key and Emerging Countries Analysis Worldwide IT Assessment and Optimization Market Chapter 08 - Global IT Assessment and Optimization Market Structure & worth Analysis Chapter 09 - Global IT Assessment and Optimization Market Competitive Analysis & Challenges Chapter 10 - Assumptions and Acronyms Chapter 11 - IT Assessment and Optimization Market Research Methodology Key questions answered • How Global IT Assessment and Optimization Market growth & size is changing in next few years? • Who are the Leading players and what are their futuristic plans in the Global IT Assessment and Optimization market? • What are the key concerns of the 5-forces analysis of the Global IT Assessment and Optimization market? • What are the strengths and weaknesses of the key vendors? • What are the different prospects and threats faced by the dealers in the Global IT Assessment and Optimization market? Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, Japan, Australia or Southeast Asia. Nidhi Bhawsar (PR & Marketing Manager) HTF Market Intelligence Consulting Private Limited Phone: +15075562445 sales@htfmarketreport.com About Author: HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies. We offer services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making. This release was published on openPR.