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National Finance Commission Award
The National Finance Commission Award or NFC is a series of planned economic programs in Pakistan enacted since 1951. Constituted under thArticle 160of the Constitution, the program was emerged to take control of financial imbalances and equally managed the financial resources to four provinces to meet their expenditure liabilities while alleviating the horizontal fiscal imbalances. As per Constitution, the program awards the designs of financial formulas of economic distribution to provincial and federal government for five consecutive years. All together, a total of seven awards has been reimbursed since its emergence in 1951, by Prime Minister Liaquat Ali Khan. Stipulations and directions mentioned by the Constitution, the provisional governments and federal government competes to get higher share of the program's revenues in order to stabilize their own financial status. Intergovernmental transfer of economic resources is chaired by the President of Pakistan whose constit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Reforms In Pakistan
Pakistan began a period of economic liberalisation in the 1990s to promote and accelerate economic independence, Economic development, development, and GDP growth. This policy programme was first conceived in early 1980s and thoroughly studied by the Ministry of Finance (Pakistan), ministry of finance led by Finance Minister of Pakistan, finance ministers Ghulam Ishaq Khan and Mahbub ul Haq, Mahbub-ul-Haq and was implemented first by Pakistan Muslim League (N), Pakistan Muslim League and the Prime Minister of Pakistan, Prime minister Nawaz Sharif, as part of the Privatisation in Pakistan, privatisation programme in 1990. The programme of economic liberalisation, as one of the counter-policy measure programme, came in a direct response to Nationalization in Pakistan, nationalization programme of Pakistan Peoples Party (PPP) in the 1970s. After the 1993 Pakistani general elections, 1993 general elections, the programme was halted and reversed by Prime minister Benazir Bhutto and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Economics
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods. Proponents of this approach claim that it allows the formulation of theoretical relationships with rigor, generality, and simplicity. Mathematics allows economists to form meaningful, testable propositions about wide-ranging and complex subjects which could less easily be expressed informally. Further, the language of mathematics allows economists to make specific, positive claims about controversial or contentious subjects that would be impossible without mathematics. Much of economic theory is currently presented in terms of mathematical economic models, a set of stylized and simplified mathematical relationships asserted to clarif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Pakistan
East Pakistan was a Pakistani province established in 1955 by the One Unit Policy, renaming the province as such from East Bengal, which, in modern times, is split between India and Bangladesh. Its land borders were with India and Myanmar, with a coastline on the Bay of Bengal. East Pakistanis were popularly known as "Pakistani Bengalis"; to distinguish this region from India's state West Bengal (which is also known as "Indian Bengal"), East Pakistan was known as "Pakistani Bengal". In 1971, East Pakistan became the newly independent state Bangladesh, which means "country of Bengal" in Bengali. East Pakistan was renamed from East Bengal by the One Unit Scheme of Pakistani Prime Minister Mohammad Ali of Bogra. The Constitution of Pakistan of 1956 replaced the Pakistani monarchy with an Islamic republic. Bengali politician H. S. Suhrawardy served as the Prime Minister of Pakistan between 1956 and 1957 and a Bengali bureaucrat Iskander Mirza became the first President of Pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Pakistan
West Pakistan ( ur, , translit=Mag̱ẖribī Pākistān, ; bn, পশ্চিম পাকিস্তান, translit=Pôścim Pakistan) was one of the two Provincial exclaves created during the One Unit Scheme in 1955 in Pakistan. It was dissolved to form 4 provinces in 1970 before 1970 General Elections under the 1970 Legal Framework Order. Following its independence from British rule, the new Dominion of Pakistan was physically separated into two exclaves, with the western and eastern wings geographically separated from each other by India. The western wing of Pakistan comprised three governor's provinces (the North-West Frontier, West Punjab and Sind), one chief commissioner's province ( Baluchistan) along with the Baluchistan States Union, several independent princely states (notably Bahawalpur, Chitral, Dir, Hunza, Khairpur and Swat), the Karachi Federal Capital Territory, and the autonomous tribal areas adjoining the North-West Frontier Province. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
One Unit
The One Unit Scheme ( ur, ; bn, এক ইউনিট ব্যবস্থা) was a geopolitical programme launched by the Government of Pakistan led by Prime Minister Muhammad Ali Bogra on 22 November 1954 and passed on 30 September 1955. The government claimed that the programme would overcome the difficulty of administering the two unequal polities of West and East Pakistan separated from each other by more than a thousand miles. To diminish the differences between the two regions, the 'One Unit' programme merged the four provinces of West Pakistan ( West Punjab, Sind, NWFP & Baluchistan) into a single province to parallel the province of East Pakistan (now Bangladesh). Pakistani scholars and researchers maintain that the One Unit programme was viewed as a counterbalance against the political and population domination of the ethnic Bengali population of East Pakistan. The One Unit program was met with great resistance and grievances were raised by the four provinc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Pakistan
Pakistan's current Taxation system is defined by Income Tax Ordinance 2001 (for direct taxes) and Sales Tax Act 1990 (for indirect taxes) and administrated by Federal Board of Revenue (FBR). History The Income Tax Act of 1922 The Income Tax Act of 1922 was prevalent during the British Raj and was inherited by both the governments of India and Pakistan upon independence and partition in 1947. This act initially formed the basis of both countries' Income Tax codes. The Income Tax Ordinance (1979) The Income Tax Ordinance was the first law on Income Tax which was promulgated in Pakistan from 28 June 1979 by the Government of Pakistan. The Income Tax Ordinance, 2001 To update the tax laws and bring the country's tax laws into line with international standards, the Income Tax Ordinance 2001 was promulgated on 13 September 2001. It became effective from 1 July 2002. IT rules 2002 IT (Income Tax) rules 2002 were promulgated by the Federal Board of Revenue (FBR) on 1 July 2002 in exerci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Pakistan
The Parliament of Pakistan ( ur, , , "Pakistan Advisory Council" or "Pakistan Consultative Assembly") is the federal and supreme legislative body of Pakistan. It is a bicameral federal legislature that consists of the Senate as the upper house and the National Assembly as the lower house. According to the Constitution of Pakistan, the President of Pakistan is also a component of the Parliament. The National Assembly is elected for a five-year term on the basis of adult franchise and one-man one-vote. The tenure of a Member of the National Assembly is for the duration of the house, or sooner, in case the Member dies or resigns. The tenure of the National Assembly also comes to an end if dissolved on the advice of the Prime Minister or by the president in his discretion under the Constitution. The Parliament meets at the Parliament House building in Islamabad, where debating chambers for both houses are present. Until 1960, the Parliament House was located in Karachi . ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elections In Pakistan
Since its establishment in 1947, Pakistan has had an asymmetric federal government and is a federal parliamentary democratic republic. At the national level, the people of Pakistan elect a bicameral legislature, the Parliament of Pakistan. The parliament consists of a lower house called the National Assembly, which is elected directly, and an upper house called the Senate, whose members are chosen by elected provincial legislators. The head of government, the Prime Minister, is elected by the majority members of the National Assembly and the head of state (and figurehead), the President, is elected by the Electoral College, which consists of both houses of Parliament together with the four provincial assemblies. In addition to the national parliament and the provincial assemblies, Pakistan also has more than five thousand elected local governments. The Election Commission of Pakistan, a constitutionally-established institution chaired by an appointed and designated Chief El ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Revenue
Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it to undertake public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy. The collection of revenue is the most basic task of a government, as revenue is necessary for the operation of government, provision of the common good (through the social contract in order to fulfill the public interest) and enforcement of its laws; this necessity of revenue was a major factor in the development of the modern bureaucratic state. Government revenue is distinct from government debt and money creation, which both serve as temporary measures of increasing a government's money supply without increasing its revenue. Sources There are a variety of sources from which government can derive revenue. The most common sources of government revenue have varied in different places an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derivative
In mathematics, the derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value). Derivatives are a fundamental tool of calculus. For example, the derivative of the position of a moving object with respect to time is the object's velocity: this measures how quickly the position of the object changes when time advances. The derivative of a function of a single variable at a chosen input value, when it exists, is the slope of the tangent line to the graph of the function at that point. The tangent line is the best linear approximation of the function near that input value. For this reason, the derivative is often described as the "instantaneous rate of change", the ratio of the instantaneous change in the dependent variable to that of the independent variable. Derivatives can be generalized to functions of several real variables. In this generalization, the de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Density
Density (volumetric mass density or specific mass) is the substance's mass per unit of volume. The symbol most often used for density is ''ρ'' (the lower case Greek letter rho), although the Latin letter ''D'' can also be used. Mathematically, density is defined as mass divided by volume: : \rho = \frac where ''ρ'' is the density, ''m'' is the mass, and ''V'' is the volume. In some cases (for instance, in the United States oil and gas industry), density is loosely defined as its weight per unit volume, although this is scientifically inaccurate – this quantity is more specifically called specific weight. For a pure substance the density has the same numerical value as its mass concentration. Different materials usually have different densities, and density may be relevant to buoyancy, purity and packaging. Osmium and iridium are the densest known elements at standard conditions for temperature and pressure. To simplify comparisons of density across different s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inverse Population
In science, specifically statistical mechanics, a population inversion occurs while a system (such as a group of atoms or molecules) exists in a state in which more members of the system are in higher, excited states than in lower, unexcited energy states. It is called an "inversion" because in many familiar and commonly encountered physical systems, this is not possible. This concept is of fundamental importance in laser science because the production of a population inversion is a necessary step in the workings of a standard laser. Boltzmann distributions and thermal equilibrium To understand the concept of a population inversion, it is necessary to understand some thermodynamics and the way that light interacts with matter. To do so, it is useful to consider a very simple assembly of atoms forming a laser medium. Assume there is a group of ''N'' atoms, each of which is capable of being in one of two energy states: either #The ''ground state'', with energy ''E''1; or #The ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
