Impact of Monetary Policy on the Volatility of Stock Market in Pakistan

This paper addresses the linkages between the monetary policy and the stock market in Pakistan. The estimation technique employed includes Engle Granger two step procedure and the bivariate EGARCH method. The results indicate that any change in the monetary policy stance have a significant impact on the volatility of the stock market. Thus contributing to the ongoing debate in the monetary policy rule literature regarding the proactive and reactive approach.Interest Rate, Stock Market, Monetary Policy, EGARCH, Pakistan

Analysis of Map3k-dependent molecular mechanisms regulating signaling in iNKT and B cells

Abstract Our immune system consists of two types of lymphocytes; B lymphocytes which produce antibodies in response to an antigen, and T lymphocytes which differentiate into particular effector T lymphocytes such as a cytotoxic, helper or regulatory T cell in response to an antigen. Type 1 invariant natural killer T cells (iNKT cells) are a unique population of T cells whose phenotypical, developmental and functional characteristics differ from conventional T cells (Novak and Lehuen, 2011). Mitogen-Activated Protein Kinase (MAPK) signaling is critical for T lymphocyte development and effector responses. We define the roles of Map3k1 and Map3k7 genes in Natural Killer T (NKT) cells. We identify an elevated expression of the cell cycle inhibitor Cdkn1b during the Map3k1ΔKD iNKT cell clonal burst. We find aberrant Interleukin (IL) -17 production by Map3k1ΔKD iNKT cells and altered expression of Rorc, Mmp9 and Il17rb in Map3k1ΔKD iNKT cells. The liver damage seen in Map3k1ΔKD mice could be the cause of upregulation of Il-17 and IL-1β cytokines, and IL-1β related genes (Il1r2 and Il1f9). Additionally we find that Map3k1+/ΔKD mice injected with keyhole limpet hemocyanin (KLH) display a larger population of germinal center B cells compared to Map3k1ΔKD mice suggesting an importance of Map3k1 in germinal center formation.Popular science summary: Analysis of Map3k-dependent molecular mechanisms regulating signaling in lymphocytes My research involves investigating the roles of Map3k1 and Map3k7 genes in relation to invariant natural killer T (iNKT) cells. iNKT cells are a unique population of T cells whose phenotypical, developmental and functional characteristics differ from conventional T cells. iNKT cells express a highly restricted T cell receptor (TCR), a majority of iNKT cells express the Vα14Jα18 chains with a restricted set of β chains Vβ8.2, Vβ7 and Vβ2 in mice. iNKT cells are restricted by CD1d, a family of major histocompatibility complex (MHC) like molecules that specialize in presenting lipid antigens to T cells. iNKT cells can be detected with α-galactosylceramide (α-GalCer) loaded CD1d tetramers. Mitogen-Activated Protein Kinase (MAPK) signaling is critical for T lymphocyte development and effector responses. MAPKs are major components of pathways controlling embyogenesis, cell differentiation, cell proliferation and cell death. Four main groups of MAPKs have been found: extracellular signal regulated kinases (ERKs) 1 and 2 (ERK1/2), c-Jun amino terminal kinases or stress activated protein kinases (JNK/SAPK) 1-3, p38MAPKα, β, γ and δ and ERK5. Map3k1 is involved in the ERK and JNK kinase pathways and Map3k7 is involved in JNK and p38 kinase pathways. For this research study Map3k1ΔKD (kinase domain knocked out, inactivating the gene making it mutant), Map3k1+/ΔKD (1 allele expresses the gene and the other has been knocked out making it wildtype), Lck-Cre+Map3k7f/f (entire gene knocked out making it mutant) and Lck-Cre+Map3k7+/f (1 allele expresses the gene and the other has been knocked out making it wildtype) mice have been generated. Mice were injected with KRN7000 an analogue of α-GalCer to stimulate splenic iNKT cells over a 6 day period to establish whether there is a role for Map3k1 kinase signaling in effector iNKT cell responses to glycolipid antigens. A peak response of iNKT cells was observed on day 3 followed by a steep decline on day 6. There were a reduced number of iNKT cells in Map3k1ΔKD mice on day 3 suggesting there was a defect in iNKT expansion. To assess the molecular mechanisms during this effect, day 3 isolated iNKT cell mRNA from Map3k1ΔKD and Map3k1+/ΔKD mice was processed and hybridized into Affymetrix Mouse Gene 1.0 ST arrays to compare the gene expression profiles between the two groups. Significant microarray hits with a gene expression change of higher than 2 fold between the two genetic groups was found. Enhanced expression of Cdkn1b (a cell cycle inhibitor) could explain the hypoproliferation observed in Map3k1ΔKD mice. An upregulation of Rorc and IL-17rb was observed in Map3k1ΔKD mice, Rorc is a transcriptional regulator of Th17 development. This could suggest possible involvement of Map3k1 in the regulation of IL-17 and Th17 cell signaling and a connection between iNKT cells and Th17 cells. iNKT cell expansion was examined in the liver due to the defective iNKT splenic expansion seen in Map3k1ΔKD mice. Liver damage was observed following α-GalCer stimulation and an increase in lymphocyte infiltration. This could be due to increased IL-1β expression which has previously shown to have proinflammatory roles in liver damage. Further research in the molecular mechanisms regulating signaling in T and iNKT cells could lead to the development of potential therapies in autoimmune diseases. Supervisor: Dr Ewen Gallagher (Imperial College London) Master´s degree project 60 credits in Immunology2013 Department of Biology, Lund Universit

HOW DOES ZAKAT EMPOWER SOCIETY? A CASE STUDY OF THE KHAIRPUR DISTRICT, PAKISTAN

Poverty is a worldwide issue of concern to the international community, including Pakistan. Khairpur is a rural region in Pakistan where a significant proportion of the population lives below the poverty threshold. This research aims to describe the practice of zakat and its implications for the residents of the Khairpur district in Pakistan, using qualitative research techniques. The methods employed to collect data in this study involved conducting interviews with Khairpur residents, observations, and reviewing relevant literature. The findings indicated that in Khairpur, the local community perceives the practice of zakat as a means of providing socio-economic security for the elderly by allocating zakat funds to healthcare facilities. Donating Zakat to educational institutions can also provide assistance to economically vulnerable groups of children. Zakat initiatives can aid women's groups in funding their wedding expenses and dowries. Nevertheless, this research also exposed that the transparency of zakat management has been inadequate and requires further improvement to ensure that a larger portion of the Khairpur population can reap the benefits of zakat.Problem global kemiskinan telah lama menjadi perhatian masyarakat dunia, termasuk di Pakistan. Khairpur adalah salah satu daerah pedesaan Pakistan yang memiliki banyak segmen masyarakat yang hidup di bawah garis kemiskinan. Penelitian ini bermaksud untuk menjelaskan praktik zakat dan refleksinya bagi masyarakat di distrik Khairpur Pakistan melalui metode kualitatif.  Teknik pengumpulan data dilakukan melalui sejumlah wawancara dengan penduduk Khairpur, observasi, dan telaah pustaka. Hasil penelitian menunjukkan bahwa praktik zakat di Khairpur telah dianggap oleh masyarakat setempat dapat memberikan jaminan sosial ekonomi untuk orang lanjut usia melalui zakat yang dialokasi ke dalam fasilitas kesehatan. Zakat yang dialokasikan ke dalam fasilitas pendidikan juga mampu membantu kelompok anak-anak yang memiliki kerentanan ekonomi. Sedangkan bagi bagi kelompok perempuan, program zakat dapat membantu mereka dalam pembiayaan mahar maupun upacara pernikahan. Meski demikian, pada sisi lain, penelitian ini juga mengungkapkan bahwa praktik pengelolaan zakat belum transparan dan masih perlu ditingkatkan lagi jumlahnya agar semakin banyak segmen penduduk Khairpur yang merasakan manfaat zakat tersebut

The MEKK1 PHD ubiquitinates TAB1 to activate MAPKs in response to cytokines.

Unlike the other MAP3Ks, MEKK1 (encoded by Map3k1) contains a PHD motif. To understand the role of this motif, we have created a knockin mutant of mouse Map3k1 (Map3k1(m) (PHD)) with an inactive PHD motif. Map3k1(m) (PHD) ES cells demonstrate that the MEKK1 PHD controls p38 and JNK activation during TGF-β, EGF and microtubule disruption signalling, but does not affect MAPK responses to hyperosmotic stress. Protein microarray profiling identified the adaptor TAB1 as a PHD substrate, and TGF-β- or EGF-stimulated Map3k1(m) (PHD) ES cells exhibit defective non-canonical ubiquitination of MEKK1 and TAB1. The MEKK1 PHD binds and mediates the transfer of Lys63-linked poly-Ub, using the conjugating enzyme UBE2N, onto TAB1 to regulate TAK1 and MAPK activation by TGF-β and EGF. Both the MEKK1 PHD and TAB1 are critical for ES-cell differentiation and tumourigenesis. Map3k1(m) (PHD) (/+) mice exhibit aberrant cardiac tissue, B-cell development, testis and T-cell signalling

Doing Taxes Better: Simplify, Open and Grow Economy

Taxes have been the cornerstone of IMF-led adjustment programs for Pakistan for over four decades. During this period, long term growth and productivity have declined while the tax policy has become more contentious and fragmented. Measures multiply as unrealistic targets are chased with mini budgets every quarter. The following arose from a high-level conference arranged by PIDE to outline future directions in tax policy

HHMM at SemEval-2019 Task 2: Unsupervised Frame Induction using Contextualized Word Embeddings

We present our system for semantic frame induction that showed the best performance in Subtask B.1 and finished as the runner-up in Subtask A of the SemEval 2019 Task 2 on unsupervised semantic frame induction (QasemiZadeh et al., 2019). Our approach separates this task into two independent steps: verb clustering using word and their context embeddings and role labeling by combining these embeddings with syntactical features. A simple combination of these steps shows very competitive results and can be extended to process other datasets and languages.Comment: 5 pages, 3 tables, accepted at SemEval 201

Electricity Demand in Pakistan: A Nonlinear Estimation

Pakistan has plunged into darkness because of severe electricity shortage over the last few years. The electricity shortfall has reached 4,250 MW with demand standing at 16,400 MW and generation at 12,150 MW in June 2013 (PEPCO). The load shedding and power blackouts act as a binding constraint to the economic growth through their impact on employment, trade and poverty [Kessides (2013)]. The existing statistics reveal that Pakistan has witnessed low GDP growth rate during the periods of low or negative electricity growth and during the periods where electricity growth picked up there is an increase in GDP growth rate [Pakistan (2013)]. The power crisis has destroyed the industrial sector of Pakistan. Around 40 percent factories and industry units have now been closed and around 7.5 percent of labour force is out of jobs only because of this dilemma.

Minhas Majeed Khan, et al. (eds.). China-Pakistan Economic Corridor—A Game Changer. Islamabad, Pakistan: Institute of Strategic Studies Islamabad (ISSI). 2016. iii+164 Pages. Pak Rupees 500.00 (Hardback).

China-Pakistan Economic Corridor—A Game Changer is a collection of essays, written by experts in the fields of International Relations, Political Economy, Current Affairs, and Sino-Pak relations. The book takes its readers on an exuberant journey through the history of Silk Route to the One Belt, One-Road (OBOR) initiative and the political economy of the Sino-Pakistan relations. The book not only underscores the challenges that lie ahead in making the China-Pakistan Economic Corridor (CPEC) a success, but it also presents suggestions for making it a real game changer for development and prosperity of Pakistan, and the entire region. The book highlights the economic and political importance of CPEC by integrating analysis with the latest data. In the first article, Li Xiguang discusses the importance of the OBOR initiative. He asserts that “opening to both the east and the west”, China will become the centre of Central Asia. The idea of OBOR raised by China would not only achieve economic purposes but cultural, religious, and educational exchanges can also be made possible through this project. Historically, Silk Road had its own influence and it helped in shaping the governance and transportation of even the most distant countries and influenced the culture of even the remotest areas. In the past, the area around the CPEC has seen the ascent of the cultural centres of the world. The CPEC, which encompasses countries including Pakistan, Afghanistan, Tajikistan, Kyrgyzstan, Kazakhstan, Turkmenistan, and Iran has once again put China on the central stage. The author feels that China needs to maintain social relationships and political cooperation with these nations. This initiative is shaping a new world order through common destiny, common interests, values, culture, and security