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GOVERNMENT COLLEGE OF UNIVERSITY, LAHORE

Current Financial Crisis & Its Implications for the Economy of Pakistan . GOVERNMENT COLLEGE OF UNIVERSITY, LAHORE. PRESENTATION BY:. PROF. DR. KHAWAJA AMJAD SAEED

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GOVERNMENT COLLEGE OF UNIVERSITY, LAHORE

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  1. Current Financial Crisis & Its Implications for the Economy of Pakistan GOVERNMENT COLLEGE OF UNIVERSITY, LAHORE PRESENTATION BY: PROF. DR. KHAWAJA AMJAD SAEED Founder Principal, Hailey College of Banking & Finance, University of the Punjab, Lahore Pakistan, Mobile: 0092-333-4363363, Email: kamjadsaeed@yahoo.com – Website: www.kamjadsaeed.edu.pk Member Governing Council, International Federation of Accountants (IFAC) (1997-2000), President, South Asian Federation of Accountants (SAFA) (1997), President, Institute of Cost and Management Accountants of Pakistan (1997-2000), President, Association of Management Development Institutions of South Asia (AMDISA) (1993-96), Pro Vice-Chancellor University of the Punjab, Lahore (1994-1996), Founder Director, Institute of Business Administration (IBA), University of the Punjab, Lahore (1973-1996). TOPIC

  2. WELCOME TO OUR PROGRAM PRESENTATION FRAME • Global Financial Crisis • In Search of an Economic System • Regional Financial Problems • Pakistan‘s Economy

  3. 1. GLOBAL FINANCIAL CRISIS • Finance in Total Management • Financial Management Framework • Global Market Crash • Goobal Financial Crisis

  4. 1:1. FINANCE IN TOTAL MANAGEMENT FIVE CONSTITUENTS OF MANAGEMENT • FINANCE • Marketing • Production • Personnel • Procurement

  5. 1:2. FINANCIAL MANAGEMENT FRAMEWORK A: CONVENTIONAL APPROACH • Resource Mobilization • Response Utilization • Protection of Capital • Distribution of Returns B: MODERN APPROACH • Maximize Returns • Minimize Risks

  6. 1:3. GLOBAL MARKET CRASH • October, 1987 Black Monday at NYSE • 1900-92 Credit Problem • 1997-98 Far East Economic Crisis • 200-2002 Worst Tech Burst on NYSE etc.

  7. 1:3. GLOBAL MARKET CRASH • 2007: Sub Prime Mess The Worst Decline in Housing Projects • 2008 Financial Market Debacle of USA Domino Effect • IMF Role Emergency Fund $200b

  8. 1:4 GLOBAL FINANCIAL CRISIS GLOBAL 14 BANKS: MARKET CAPITALIZATION

  9. 1:4 GLOBAL FINANCIAL CRISIS GLOBAL 14 BANKS: MARKET CAPITALIZATION

  10. 1:4 GLOBAL FINANCIAL CRISIS GLOBAL 14 BANKS: MARKET CAPITALIZATION Source: Edited from Bloomberg, October 30, 2008* Calculated by Prof. Dr. Khawaja Amjad Saeed, PrincipalHailey College of Banking & Finance, University of the Punjab. Lahore.

  11. 2. IN SEARCH OF AN ECONOMIC SYSTEM • System-Needed • Ismistic Approach • Fall of Capitalism • Rise and fall of Communism/Socialism • Mixed Economy • In Search of Islamic Economic System • Other Thoughts

  12. 3. REGIONAL FINANCIAL PROBLEMS • SAARC • Global Share-Intra SAARC • Inter SAARC • Future Out look • Missing Opportunities

  13. 4. PAKISTAN’S ECONOMY • Major Issues • Agriculture • Industry • Infrastructures • Implications • Unemployment • FX Reserves • FX Rate • Poverty • Economic Development -------------Social Justice • Federal Budget 2008-09 • SBP 2007-08 Annual Report

  14. 4.3 FEDERAL BUDGET 2008-09 A: NEEDED Rs. Current Expenditure 1,493 ADP-2008-09 517 2,010 B: AVAILABLE 1,111 Shortfall 899

  15. 4:3. FEDERAL BUDGET 2008-09 C: FINANCING External Resources 300 Capital Receipts (net) 221 Bank Borrowing 149 Self Financing by Previews 125 Cash Balances of Previews 079 Privatization Proceeds 025 899

  16. 4:3. FEDERAL BUDGET 2008-09 1. CURRENT EXPENDITURE Debt Servicing 619 General Public Services 311 Defense 296 Economic Affairs 201 1,427 Others 66 1,493

  17. 4:3. FEDERAL BUDGET 2008-09 2. CURRENT REVENUE Indirect Taxes 619 Direct Taxes 496 Non Tax Revenue 428 1,679 Less: Transfer to Provinces 568 1,111

  18. 4:3. FEDERAL BUDGET 2008-09 3. ADP 2008-09 Federal Govt 400 Provincial ADPs 150 Other Development Expenditure 044 594 Less: Operational Shortfall 077 517

  19. 4:4. SBP 2007-08 ANNUAL REPORT

  20. 4:4. SBP 2007-08 ANNUAL REPORT Source: Extracted from IBP-Economic Letter, December 13, 2008, P.1 ASK ANY QUESTIONS THANK YOU FOR ATTENTIVE LISTENING

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