saqib.omer.saeed

Saqib Omer Saeed

A financial researcher, analyst and adjunct faculty in CBM, SZABIST, BIZTEK & University of Karachi and blogs at www.bizomer.com

Tax is not a monster

While watching a TV program about Pakistan’s economy, something occurred to me: 1) when imposed, taxation is irrational   – but- 2) if properly developed taxes can make a positive impact on economy and society. Taxes are a product and we are the clients Due to negative media portrayal, people look upon taxation as a monster. I can’t agree with classical economists, nor with the conventional discipline of tax science. To me, taxation is merely a product of the government. I know the objection can be raised that if tax is a product, we can avoid buying it. I think we need to ignore ...

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Floods and the business of responsibility

These days Pakistan is going through the worst flooding in its history. Even before the floods, most people living in rural areas that have been affected were living in abject poverty. It is the responsibility of companies to participate in and finance projects that address the long term needs and social welfare of the flood victims. Occasional distribution of cheques and commodities is good but much more has to be done – and on a regular basis. The concept of Corporate Social Responsibility (CSR) is not new in Pakistan. Companies across the country participate in and arrange welfare activities to ...

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No wrong time for the right person

I do not understand why some people wait for the ‘ideal conditions’ to initiate their endeavors. People think that they cannot succeed in a society where achieving anything looks impossible. All I can say is that this is simply the approach of losers. I have not come across many successful people who have prospered in ideal conditions, for great successes have always occurred in adversity. I heard once that winners translate dreams into reality and losers translate reality into dreams. The best idea will not work until you work with it. When I heard these sentences for the first time, I ...

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To be a leader worth following

The biggest problems exists in leadership and people rather than any other aspect of a business enterprise. Organisations usually try to sort out opportunities in their productivity and profitability but the real growth lies in attitudes. Organisations try to assess problems in their processes, machines, markets and technology but the biggest source of problem are the people. Weak top managers and decision makers fail to fire those who are not working. They cannot assess whom has the potential to work or not. If they are not working why aren’t they doing so? If leadership was all about monitoring who is working and firing those who are not – ...

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Ramazan inflation: what we can do

The Federal Bureau of Statistics (FBS) reported that the increase in the prices of perishable food items rose by 20.76%, that is right after the increase of 16.36% in the prices of electricity and fuel over the last year (period: July – June 2010).  The average inflation in food prices is 14.48% and inflation in non-perishable items lies at 13.64%. The figures mentioned above are a reflection of the yearly increase in prices but let us see how prices are indicating that the holy month of Ramazan is coming. A week ago a national business newspaper conducted an on field survey ...

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Why we need special economic zones

Pakistan is a country of unlimited human potential, especially with regard to talent that can be utilized to create a culture of dynamic entrepreneurship. Once the majority of your population is below 25 years in age you cannot depend upon a number of big companies working in the country to produce employment of a desired level for the qualified and skilled youth. It is all about how well the planners in the government provide solutions to the youth to become their own employers and in turn employ others. Let me give an example of a UAE based company, RSI Concepts. The company is ...

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Does Parliament care about fake degrees more than us?

June and July have been critical months in the national parliamentary schedule because of the federal budget presentation in parliament and then the discussion for its approval. Generally nations anticipate their parliaments to discuss national budgets and come up with ideas and proposals for their well being. I come across the findings of the report of Free and Fair Election Network (FAFEN) entitled FAFEN Parliament Monitor. The report reveals just how much our parliament took  discussed the federal Budget 2010-11 in the National Asembly in its 2pml-3rd budget session. According to the report: Only 114 out of 340 members took part in budgetary discussion i.e. 33% (June 3rd ...

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Is Islamic banking really Islamic?

The journey began with trying to establish Shariah compliant prudent banking opportunities. The concept was to provide Halal banking and safety from Riba (interest). The aim was to avoid foreign banks and their banking system in Muslims countries. The vision was to establish an Islamic Economic System. After the initial stage, people started having questions in their minds: Is Islamic banking really is Islamic? The matter is drawn from two aspects. First, what is the difference in the methodology the common man can see when he deals with an Islamic bank in comparison to a conventional commercial bank? And second, whether ...

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Fund managers need to access the public

Stock markets have always been a point of attractive investment. The high level of risk and volatility in the stock markets induce investors to foresee higher returns to compensate the risk. But, the point that is more important is the opportunities in the stock exchange for the common man. I am talking about people who save money from their salaries or monthly income, those who lack technical knowledge but have the ambition to attain handy returns to meet their future monetary requirements. I have mentioned several times on my blog that one of the reasons for the financial crises across ...

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Excuses or entrepreneurship?

The weather was nice in Islamabad. Clouds surrounded the Margalla Hills, while discussions went on about the economy, the deplorable business outlook and politics. I was listening to these people speak about Pakistan’s worst business environment. They were saying that it is difficult doing business in Pakistan. Some of them were even planning to shift their businesses overseas. I called them to stop. They were stunned. I remained quite for a minute and then posed a question. Can we ask Student Biryani and Dilpasand Sweets to close their businesses and shift to any other country in the world? They did not ...

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