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After the entry of new models and brands by new entrants and due to the significantly low benchmark interest rate of 7%, consumer financing hit an all-time high in 2021. This trend started when a new Automotive Development Policy (2016–2021) was first approved by the ECC in its meeting held on 18 March 2016.
The National Finance Commission Award or NFC is a series of planned economic programs in Pakistan enacted since 1951. [1] Constituted under the Article 160 of 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. [2]
The Economic Coordination Committee (reporting name:ECC), (Urdu: اقتصادی رابطہ کمیٹی) is a principle federal institution and a consultative forum used by the people-elected Prime Minister of Pakistan as its chairman, for concerning matters of state's economic security, geoeconomic, political economic and financial endowment issues. [1]
While the original Islamic banking proponents hoped profit-loss sharing (PLS) would be the primary mode of finance replacing interest-based loans, [56] long-term financing with profit-and-loss-sharing mechanisms is "far riskier and costlier" than the long term or medium-term lending of the conventional banks, according to critics such as ...
Structure of simple mudaraba contract [11]. Mudarabah is a partnership where one party provides the capital while the other provides labor and both share in the profits. [12] [13] The party providing the capital is called the rabb-ul-mal ("silent partner", "financier"), and the party providing labor is called the mudarib ("working partner").
The budget included funding for a number of development initiatives to increase the nation's economic growth rate. The original outlays for the PDSP being estimated at Rs. 2.66 trillion for the development programme, which included a Rs 950 billion federal Public Sector Development Programme (PSDP), that was approved by the Annual Plan Coordination Committee (APCC). [5]
The First Five-Year Plans for the National Economy of Pakistan, (or also known as First Five-Year Plans), was a set of the Soviet-styled centralized economic plans and targets as part of the economic development initiatives, in the Pakistan.
The Ministry of Economic Affairs, (abbreviated as MoEA) is a Cabinet-level ministry of the Government of Pakistan responsible for assessing, programming and negotiations of external economic assistance concerning the government and its constituent units from foreign governments and multilateral agencies.