Pakistan: Prospects for Private Capital Flows and Financial Sector Development

In less than a decade after the debt crisis of 1982, developing countries have experienced a surge of capital inflows in recent years. This trend became more pronounced in the 1990s resulting in overall balance of payments surpluses and accumulation of reserves. Total private capital inflows to developing countries exceeded $173 billion in 1994, compared to annual average inflows of$34 billion during 1983–90 [World Bank (1995)]. Although the characteristics of capital inflows in this episode are different than in the period prior to the last debt crisis, nevertheless concerns about macroeconomic stability, loss in competitiveness, financial sector vulnerability and excessive borrowing remain the same. While the rise in inflows during 1991–93 was supported in part by low interest rates and weak economic activity in industrial countries, improved economic policies and prospects in most recipient countries also played an important role. The larger share in inflows of those countries that achieved greater progress in economic reforms, is evidence of the importance of recipient country policies. During this period, the composition of private flows to developing countries also became more diversified. Foreign direct investment (FDI) accounted for 45 percent of total equity inflows in 1994, with debt accounting for 32 percent and portfolio flows accounting for the remaining 23 percent. According to a recent assessment [World Bank (1995)], overall private capital flows to developing countries are likely to continue to increase in the medium term, though at a much slower pace than in the early 1990s, growing on average at about 7–10 percent annually. Many countries are at the limit of prudential borrowing, so at most their net liabilities can rise in line with exports. However, within this overall trend, some economies in Asia and several transitional economies are likely to see a larger increase.

Performance studies of oil lubricated helical groove journal bearing

This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University.The provision of helical grooves on the surface of a plain journal bearing can improve the stability of a rotor-bearing system. However, the improvement depends on the arrangement of the grooves along the axial length of the bearing. In order to verify this improved stability three types of helical groove bearing and a reference plain journal bearing were investigated. The helical groove journal bearings were: a symmetrical, an asymmetrical and a partial grooved bearing. The bearing test rig was used to measure the oil flow rate, load carrying capacity, power losses, bearing surface temperatures, and stability characteristics. A theoretical model was developed to calculate the load carrying capacity, stiffness and damping coefficients, and stability characteristics of the various types of bearing. The experimental and theoretical results show that at the expense of a reduced load capacity the helical groove bearings are more stable particularly at low eccentricity ratios. However, the experimental observations showed that the partial helical groove bearing is not a practical bearing because the bearing becomes misaligned above certain load. For a given eccentricity ratio and speed the symmetrical bearing ran hotter and with greater power losses in comparison to the other three bearings. At the same eccentricity ratio and speed, the asymmetrical bearing ran at about the same temperature as the plain journal bearing.Financial support was obtained from the Government of Pakistan

Revitalization of The Public Sphere: A Comparison between Habermasian and The New Public Sphere

‘Public sphere’ is an important component of modern polity. Civil society brings the state in touch with the needs of the citizens through the medium of public sphere. However, Habermas argues that ‘public sphere’ experienced refeudalization owing to various factors i.e. propaganda, cultural industry, market and state intervention. The ‘public’ was condemned to be mere spectator again. This article argues that modern technologies enabled new public sphere (NPS) can help restore public status as participant in the democratic process. The article compares the Habermasian ideal of public sphere with NPS and constructs a matrix, depicting the various related aspects between the two models for highlighting the revival of the public sphere

Estimation of Shadow Prices for Project Evaluation in Pakistan

The purpose of this paper1 is to estimate shadow prices of capital and labour for use in the social evaluation ofprojects.2 The Harberger approach (7) has been used here to estimate the shadow discount rale. Apart from being one of the few demonstrations of the empirical estimation by this approach in 'literature this is the correct method of .estimating the shadow discount rate where the marginal social value is not equal to the marginal social cost of funds at market equilibrium due to the presence of various distortions. The estimation, in this paper, of the shadow wage rate of unskilled labour of Pakistan improves upon other attempts by taking account of a number of factors not considered hitherto. Firstly, it takes account of the different flows of rural-urban migration to the various industrial cities to estimate more accurately the opportunity cost of employing labour in each city. Secondly, the estimate takes account of the changes in social cost brought about by changes in the consumption bundle of the immigrant labour and the physical relocation of labour. In addition the estimates have been derived under alternative assumptions regarding the marginal productivity of labour in the agriculture stack season

From Habermas Model to New Public Sphere: A Paradigm Shift

Though Habermas model of public sphere was framed for describing the public and sphere at the state-level however its principles and mechanisms are postulated as relevant to the theory and practices of global public sphere GPS and global civil society GCS The emerging digital technologies and particularly global connectivity through Internet and social networking have added new dimensions to the existing GPS thereby generating a new public sphere NPS The determinants of NPS like globalization social software etc do not seem to stand against the Habermas view of public sphere rather stand supportive and enhancing to the principles and requirements of an ideal public sphere both at the national and global levels This paper unfolds this issue at length by juxtaposing the research findings from the existing researc

Evaluation of Adnexal Masses with Gray Scale Ultrasonography and Color Doppler Flow Imaging in the First Trimester of Pregnancy

Sonography is common use in early pregnancy has led to the exposure of incidental adnexal masses more often. Assessment of grayscale and color Doppler sonography outcomes is as precise when based on static images. To determine the evaluation of adnexal masses with grayscale ultrasonography and color Doppler flow imaging in first trimester of pregnancy. This Cross Sectional study was conducted at the Department of Radiology, Jinnah Hospital, Lahore, Pakistan. The study was conducted from July to Dec 2019. The patients were selected by nonprobability convenience sampling. All pregnant patients were undergoing abdominal ultrasonography to detect the adnexal masses. The data was collected by the questionnaire. Overall 68 individuals involved in this study out of which 29(96.7%) are benign diseases on the left side of patients and malignant are only 1(3.3%). Patients having benign diseases of right-sided are 33(86.8%) and malignant are 5(13.2%). Benign diseases are 62(91.2%) out of which 43 patients had cystic, 15 are mixed and 4 are solid components.  Malignant diseases are found only 6 patients out of which 3 are mixed and 3 are solid components. Majority of the adnexal masses identified in pregnancy is benign and will resolve suddenly. Doppler sonography has severe limitations in the differentiation of benign from malignant adnexal disease on the basis of low-impedance flow

The Problems and Prospects of New Public Sphere for Global Civil Society

Information and communication technologies (ICTS) have revolutionized almost every aspect of life particularly it has created a new global public sphere by providing endless list of tools for global communication thereby establishing a new global society with novel norms and mundane issues. This paper is an effort to review the state of affairs in new public sphere with a focus on the digital tools under use, their role in creating the global society and the threats and opportunities available for the international citizens for behaving effectively to utilize the opportunities and manage threats to the maximum. The paper explores interlinks between the digital gadgets, emerging global public sphere and the mundane issues emanating from this situation. The paper ends with a theoretical model constructed out of the themes floating across the review and analysis

Zero-tillage Technology and Farm Profits: A Case Study of Wheat Growers in the Rice Zone of Punjab

This study presents the results from a field survey of the wheat growers in the rice-wheat zone of Punjab. The late maturing basmati rice varieties and the post paddy-harvest conventional tillage practices to prepare seedbed for wheat sowing often result in delayed planting of the crop. The late sowing is a major factor responsible for low wheat yields obtained by the farmers of the area. Introduction of the new zero-tillage seed drill in the area during early 1980s made it possible to sow wheat in freshly harvested untilled paddy fields utilizing residual moister. Presently, more than eighty thousand hectares of wheat are sown with zero-tillage drill technology. The partial budget analysis showed that zero-tillage is more profitable than conventional wheat sowing methods of ‘wadwatter’ or ‘rauni’. The new technology saves tillage and irrigation costs, results in yield gains through a possible improvement in sowing time and enhanced fertilizer and water use efficiencies. The results showed that the zero-tillage adopters earn an extra income of 253 and 2278 rupees per acre of wheat over that earned from wheat sown with rauni and wadwattar methods respectively. The results of multiple regression analysis confirmed that the zero-tillage technology enhances water and fertilizer use efficiency. However, sufficient evidence was not present to prove any positive or adverse affect of the technology on the incidence of weeds in wheat crop. It is suggested that this aspect of zero-tillage technology be focused more in future research.wheat; Zero-tillage; technology; irrigated Punjab; rice-wheat zone; Pakistan

Information

Technologies have always played a significant role in the development of human civilization. The contemporary information and communication technologies are also expected to play a similar role. These technologies facilitate of connectivity and cost-effectiveness are such characteristics of ICTs that help individual raise its political, economic and social capabilities. However, ICTs also pose certain threats to the socio-economic life of individuals. The individual seems threatened by loss of privacy, become prey to techaddiction, and suffer from piracy issues. The very nature of ICTs makes these issues global in character, demanding fresh legislation equally global in nature. This article explicates this issue at length by juxtaposing the research findings from the existing research and comes up with a theoretical model for better understanding