Purpose The purpose of this paper is to discuss positive spillovers of this project, especially for Pakistan because the majority of the literature discusses challenges associated with China-Pakistan Economic Corridor (CPEC). Design/methodology/approach This study reviews the available literature to assess the role of CPEC in the sustainable economic development of Pakistan. Findings This study indicates that CPEC is an ambitious development project because it needs a larger restructuring of the economy of Pakistan and it will be productive with the successful blend of policy changes and participation of the business community in Pakistan. This project primarily creates a huge amount of foreign direct investment for Pakistan, at the same time, it will also create greater trade opportunities to China by giving access to a new market for its trading goods. Originality/value This study established that CPEC will improve the economic growth and trade, enhance regional connectivity, overcome energy crises, develop infrastructure and establish people-to-people contacts in both the countries, which will further help to improve the tourism sector.
The main purpose of this study is to scrutinize the effect of financial inclusion on financial sustainability, financial efficiency, gross domestic product, and human development in the context of G20 nations. This study has employed annual data of 15 developed and emerging economies during the period from 2004 to 2017. The current study has utilized a single index for financial inclusion, financial sustainability, and financial efficiency by employing principal composite analysis (PCA). The outcomes of the panel stationarity test confirmed the ARDL model for both the long and short runs. Equally, the findings of the ARDL Model 1 showed no association between financial inclusion and financial sustainability in the short run, however, in the long run, inclusive finance showed a significant impact on sustainability. Likewise, the ARDL Model 2 showed that financial inclusion has no effect on efficiency in the short run, while it positively influenced financial efficiency in the long run. The results of the ARDL Model 3 are also similar to Models 1 and 2 where inclusive finance showed no effect on poverty in the short run, but a significant effect in long run. Similarly, the ARDL Model 4 also presented no association between GDP and inclusive finance in the short run, while it showed significant relationships in the long run. Moreover, the outcomes of the GMM Model 1 showed a significant impact of inclusive finance on financial stability, and these results were similar to the GMM Model 2 between financial inclusion and financial efficiency. Additionally, GMM Models 3 and 4 have shown that inclusive finance has a statistically significant impact on poverty and economic expansion, respectively. The outcomes of this article are essential for policymakers, academics, regulators, and practitioners with valuable and convincing debate over financial inclusion, economic growth, poverty, sustainability, and financial efficiency.
Poverty is a crucial and worldwide phenomenon. The main purpose of the study is to investigate the relationship exists between socio-economic factors, social factors, and poverty, the relative influence of economic and social factors on poverty and to describe causality between time series in the VAR system. This study utilized the Vector Error Correction Model (VECM) by using quarterly time-series data, 1994Q1 to 2018Q4, that have been collected from the world development indicators (WDI) and Economic Survey of Pakistan. The study identified education, unemployment, inflation as economic factors while zakat and rainfall as social factors that can reduce poverty. The findings of this study indicate that inflation and unemployment have a positive and significant relationship with poverty in the long run in Pakistan while education, rainfall, social welfare programs, and zakat has a negative relationship in the long run with poverty. Besides, the study also found that in the short run, there is no relationship between economic and social factors with poverty. Moreover, the study found that in the long run that the relative contribution of education and rain increases, 28% and 20%, is greater than the contribution of inflation, social welfare programs, unemployment and zakat, 3.8%, 0.5%, 2.5%, and 0.08%. Similarly, its contribution to poverty reduces up to 44% in the long run. This study helps policymakers to take important decisions about economic and social factors while designing policies to reduce poverty. The results suggest that the state bank of Pakistan should adopt a contractionary monetary policy to control inflation and policymakers can develop policies like education for all. The government should develop a business environment to create more employment opportunities.
The mosque has served as one of the most important institutions of the Muslim world at all times. This paper outlines the religious function of a mosque and explains the architectural scheme to fulfill the required function. Numerous historical mosques have been built by the Muslims in different parts of the world. These are famous on account of their attractive architecture, attention to detail and wider horizontal as well as vertical arrangements. The city of Lahore possesses a heritage of different civilizations, which include Pathan, Mughal, Sikh and British. A number of historic mosques built from the Pathan to the British period were surveyed to analyze early mosque architecture. The study of the prominent congregational mosques, before the establishment of Pakistan and the post-independence mosques shows influence from the Prophet's (SAW) Mosque in Madina-al-Munawara. An analysis concludes that historical mosques were magnificent and a great source of inspiration for the post-independence mosque architecture. Thus, there is a need to conserve them with all their original architectural and decorative features for future generations.
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