Rural finance for growth and poverty alleviation

Pakistan's rural sector accounts for more than 70 percent of employment, and roughly two-thirds of rural employment is in agriculture. Less than a third of rural households get loans, only 10 percent of which are from institutional sources. Pakistan's credit institutions are not helping the country accelerate agricultural growth and reduce poverty. To improve performance in the rural economy and efficiency in financial institutions, rural credit markets must be liberalized. The government needs to initiate the following reforms: 1) produce and price controls must be replaced by prudent regulation and supervision, combined with policies to stabilize the economy; 2) commercial banks must operate in a competitive environment. They must be allowed to set interest rates for rural lending that cover their transaction costs; 3) credit must be available to support productivity growth for agricultural smallholders and small producers of the rural nonformal sector, where Pakistan's growth potential lies; and 4) credit must be available to women and to the rural poor for consumption-smoothing and for sustainable income-generating activities. Policy should be directed at developing a market-based financial system for rural finance, but because of market failures to support disadvantaged groups, a special-priority program may be needed to get credit to women, smallholders and the rural nonformal sector. Subsidizing interest rates is not the way to help marginal borrowers. Instead, they can be helped through fixed-cost subsidies and self-selected targeting. Nongovernmental organizations (NGOs) should be encouraged to help. Commercial should be encouraged to lend on other bases than the mortgage and passbook system. They could experiment with wholesaling credit through input suppliers, marketing agents and NGOs. They should consider lending for such downstream agricultural activities as agroprocessing. The biggest challenge facing rural finance is the restructuring of cooperatives. The next important step for the Agricultural Development Bank of Pakistan would be a portfolio audit - the results of which will determine next steps, such as major restructuring of its portfolio and changing its ownership. To improve rural financing, the system of property rights, title and default enforcement must also be strengthened, among other reforms.Environmental Economics&Policies,Banks&Banking Reform,Payment Systems&Infrastructure,Financial Intermediation,Economic Theory&Research,Financial Intermediation,International Terrorism&Counterterrorism,Banks&Banking Reform,Environmental Economics&Policies,Economic Theory&Research

Role of higher education in peace-building and strengthening national institutions

Socrates believes that goodness and truth, positive essences and pure ethical and moral instincts are placed there divinely in the soul. However, they are not brought to consciousness unless they are awakened or learned. Therefore, consensus on the important things in life is just below the surface waiting to be acknowledged. It is the destiny of mankind to seek out virtue such as courage and self-control, or propriety over the desires of ambitions or emotions that cloud the quest for truth. The concept of ignorance is what stands in the way of consensus, and that once one realizes that he does not know, a change in any disagreement can occur. (www.san.beck.org).Peer Reviewe

Arc GIS based Interpretation of Heavy Metals in Soil Samples near Coastal Areas of Badin, Sindh, Pakistan

This study was aimed to assess the severity of heavy metal contamination in eastern coastal area of Pakistan. Agriculture lands near district Badin coastal area found contaminated due to mega surface canal drain network, carrying untreated industrial and municipal effluents along with pumped saline water. Thirty-two random soil samples were collected from different coastal areas. Arc Geographic Information System was used for spatial mapping. Soil samples from coastal areas of Badin contain average concentrations of heavy metals (mg/kg) as Hg 0.247±0.207, Ni 2.622±1.107,Zn 3.121±0.929, Cu 0.059±0.066, Fe 70.447±1.163, Mn7.062±1.251, Co 0.0167±0.033,Cr0.799±0.718

Effect of Employer Branding Attributes on Talent Retention with Mediating Role of Transformational Leadership

The purpose of this paper is to empirically examine, the relationship between employer branding attributes and transformational leadership on talent retention in telecom sector of Pakistan. This study involves the data collected from questionnaire. The respondent were employees and employers of telecom industry of Pakistan. Our sample size comprise of 250 employees includes both male, female of different age group out of which data from 181 respondents were entered into Statistical Package for the Social Sciences SPSS-19. Data are analyzed by means of descriptive statistics, bivariate correlations and regression through SPSS-19 and Smart PLS. Our findings indicate that employer branding attributes like reward strategy, people orientedness, and perceived organizational support are positivity relation with talent retention whereas the training and development is not showing significant relation with talent retentions. Mediating effect of transformational leadership is proved

Association between circulating adiponectin levels and polycystic ovarian syndrome

Background: Low adiponectin levels in polycystic ovarian syndrome (PCOS) have been largely attributed to obesity which is common among these patients. In addition, evidence also suggests that low adiponectin in PCOS may be related to insulin resistance (IR) in these women. However, studies on the role of adiponectin in younger and lean patients are limited. Therefore, the aim of the present study was to examine the association of adiponectin levels in young and lean women with PCOS.<p></p> Methods: A case–control study was conducted at the Dow University of Health Sciences, Karachi, Pakistan. Cases were 75 patients of PCOS with Body Mass Index (BMI) &23 aged 16–35 years and 75 healthy age and BMI matched controls were selected from family and friends of the cases. Demographic details, family history and past medical history were obtained through interview by a physician. Anthropometric measurements included weight and height of the participants. Fasting glucose, total cholesterol, high-density lipoprotein (HDL), insulin, adiponectin, and androgen levels were determined. IR was calculated using homeostasis model assessment for insulin resistance (HOMA-IR). Logistic regression models were used to assess the association between adiponectin and PCOS after adjusting for co-variates.<p></p> Results: On multivariable analysis, PCOS cases were 3.2 times more likely to have low adiponectin level (OR = 3.2, 95% CI 1.49-6.90, p-value 0.003) compared to the controls after adjustment for age, BMI, family history, marital status, total cholesterol, HDL level and IR. Females with a family history of PCOS were significantly more likely to have lower adiponectin (OR = 3.32, 95% CI 1.27-8.67, p-value 0.014) compared to those who did not have a family history of PCOS. The associations of IR and family history with low adiponectin level also remained statistically significant after adjustments for covariates.<p></p> Conclusion: Serum adiponectin levels are independently associated with PCOS and are only partly explained by IR. Adiponectin level may serve as a potential independent biomarker for diagnosis of PCOS in young and lean women with fewer symptoms, or women with a family history of PCOS

Comparative Evaluation of Whole Body and Hepatic Insulin Resistance Using Indices from Oral Glucose Tolerance Test in Morbidly Obese Subjects with Nonalcoholic Fatty Liver Disease

Nonalcoholic Fatty Liver Disease (NAFLD) is the hepatic manifestation of metabolic syndrome and is a marker of Insulin Resistance (IR). Euglycemic-hyperinsulinemic clamp is the gold standard for measuring whole body IR (hepatic + peripheral IR). However, it is an invasive and expensive procedure. Homeostasis Model Assessment Index for Insulin Sensitivity (HOMA-IS), Quantitative Insulin Sensitivity Check Index (QUICKI) for hepatic IR and Insulin Sensitivity Index (ISI0,120), and Whole Body Insulin Sensitivity Index (WBISI) for whole body IR are the indices calculated after Oral Glucose Tolerance Test (OGTT). We used these indices as noninvasive methods of IR (inverse of insulin sensitivity) estimation and compared hepatic/peripheral components of whole body IR in NAFLD. Methods. 113 morbidly obese, nondiabetic subjects who underwent gastric bypass surgery and intraoperative liver biopsy were included in the study. OGTT was performed preoperatively and the indices were calculated. Subjects were divided into closely matched groups as normal, fatty liver (FL) and Non-Alcoholic Steatohepatitis (NASH) based on histology. Results. Whole body IR was significantly higher in both FL and NASH groups (NAFLD) as compared to Normal, while hepatic IR was higher only in NASH from Normal. Conclusions. FL is a manifestation of peripheral IR but not hepatic IR