Economics – Pakistan – news and travelling

Pakistan has chances in the Chinese Market

Edna Cooper Economics April 22, 2019Chinese debt, Economic aid, Open market

Yao Jing, a Chinese ambassador in Pakistan, said on Monday that China is going to open their market for Pakistani to broaden the collaborative relation between the two parties.

According to Jing, ninety percent of the Chinese market is going to be shared, agreed by this country government. This will be a big change to the economy of Pakistan, and open a developing prospect for China as well.

On April 25, Pakistani Prime Minister Imran Khan is going to visit China for three days for an official visit. This visit marks a significant milestone in the relation between two countries, as the leaders will sign on a Free Trade Agreement to create favorable conditions for the market development.

Karachi is recently in need of a circular railway, and according to Yao Jing, Chinese government will be ready to provide support and aid if Pakistan asks for. However, in terms of a financial issue, it will take more time for the Chinese government to finalize their agreement to reach a proper decision.

As a reaction to the situation, the US and IMF officials said that they doubted the package may turn out to be the payment of Pakistan for the Chinese debt. As the direct reply after the concern of the US and IMF, China immediately fed back that they do not need a return in loan from Pakistan within the next 3-5 years. Instead, the period for loan may be lengthen to 25-30 years.

How is the Shopping Culture in Pakistan?

Edna Cooper Culture, Economics December 3, 2018October 5, 2018Shopping culture

The shopping experience in Pakistan is not as vibrant as that of neighboring countries such as China, India, Nepal etc. However, it has many shopping destinations that are very popular among locals and also offers a decent experience to people who visit from foreign countries. The shopping culture of this nation is varied.

Handicrafts

There are craft centers in all the major towns of Pakistan, where one can find handicrafts from various areas being sold. Hand-embroidered shawls, carpets and rugs, camel-skin lamps, pottery, woodwork, carved wooden tables, onyx ware, trays, brassware, cashmere shawls, silk shawls etc are some of the most popular handicrafts being sold here.

Jewelries

It is possible to find many jewelry items in almost every big city or town of this country, including gold ornaments, silver trinkets and glass bangles. Keep in mind that there are quite a few restrictions about the items that foreigners can get out of the country. People who intend to fly out with an antique item should better consult a museum curator. Those flying with valuable furniture items of any description will be asked to furnish receipts at the airport. Jewelry items should have to be worth lower than 500 USD if purchased in Pakistan. However, receipts have to be kept. At the airport, most foreigners have to undergo baggage inspection during departure.

Women’s wear

The Meena Bazaar in Karachi and Peshawar are the ladies only markets in Pakistan, and consists of a maze of shops that sell primarily women’s wear. Customers have to bargain for goods. Peshawar is the Old City in Pakistan, and has some of the biggest markets in the nation. It specializes in the sales of chadors or light woolen blankets, leather chappals or leather slippers / shoes, topis or woolen hats, rugs and more. One can also find slippers having upturned toes.

Foods

Shoppers who like to gorge on mouthwatering delicacies in the midst of shopping activities can try the Anarkali Bazar, which is there in Lahore. It is supposed to the most ancient marketplace in South Asia. There are air-conditioned shopping malls in Lahore as well as in Karachi, such as Dolmen Mall, Park Towers and The Forum, where there are food courts existing side by side with shops. These are great places where locals and tourists like to beat the high temperatures, and enjoy a wide variety of international dishes. The Gawalmandi Food Street in Lahore is where food-lovers flock to, to explore the opportunity of gorging on mouthwatering local food.

How is the Present Job Market in Pakistan?

Edna Cooper Economics November 2, 2018October 5, 2018Job market

Since its birth as a nation in 1947, Pakistan has witnessed many changes in its social, political and economic sphere. However, its current crisis is possibly the worst since its inception. The country has been witnessing challenges in every sector, including the job sector, but the nation is trying to pull itself out of the mess. Find out about the present job market in Pakistan.

Businesses reducing production costs

The international financial crisis, which started from the banking sector in the United States, United Kingdom and a few European nations, has now turned into a global mess. It has also affected Pakistan. But the business owners here are trying to reduce production costs wherever possible.

Starting of Outsourcing

The doors to outsourcing have opened up here as well. People here are not averse to off shoring and outsourcing anymore. Although the country has not been able to materialize the outsourcing opportunities offered to it, many more Pakistanis are signing up with the many freelance sources in the online marketplace and selling their skills and services to the global marketplace. In Pakistan, home offices are rising in number. This is predicted to become the new trend in the country’s employment sector.

Rise of employment websites

Earlier, job seeking was limited only to newspapers, employment magazines and employment exchange. Not anymore. A number of online job portals have come up that offer jobs in Pakistan, and these have been a boon for job advertisers or business owners and job seekers. Thousands of employers and jobseekers are now being able to connect with one another, in a proper and timely manner.

Use of latest technologies such as social networking websites

The newest technologies, including smartphones, tablets, laptops and other digital devices, the widening use of the internet and increase in the number of social networking users are also having an impact on the Pakistani employment sector. Business owners and entrepreneurs are increasingly using social platforms such as Facebook, LinkedIn, Twitter etc to advertise vacancies, and thousands of job seekers are reciprocating to these employment ads to bag the jobs of their choice.

Political instability, terrorism and lack of infrastructure have perpetually been the top enemies of the employment sector in Pakistan. The new political dispensation led by former cricketer Imran Khan and his political party PTI has to address these issues if the country has to enjoy good growth in its employment sector.