IIUI: institutional character and a case for reforms-Part I

IIUI: institutional character and a case for reforms-Part I

I have yet to read a comprehensive analysis about the budgetary allocation for higher education in the Federal Budget 2008-09 but there are indications that almost all public sectors universities are now facing some sort of music as Ministry of Finance has failed to provide adequate funds to the Higher Education Commission (HEC) for existing quarter. We have also read about the concerns which Dr. Ata ur Rehman has raised last week addressing an education expo in Islamabad about the rapidly squeezing financial space and its implications for higher education institutions. Last week, we had shared a news item on this blog about a joint statement of IIUI staff associations demanding the restoration of funds from the Ministry of Finance. What does it mean for higher education sector in general and for IIUI in particular? Are we heading towards a so called education sector’s recession in the wake of the worst economic crisis which people are already facing in Pakistan? If the answer is affirmative then what IIUI can do to adjust itself in difficult times ahead?

Obviously we don’t have any sort of simple solutions here. In fact if someone tries to suggest few, that would be most probably simplistic! So let the job be undertaken by those who are presumably competent for this. To us it is important for another reason too i.e. they are after all hired for this job and a leadership role in a university such as IIUI should no more be taken as a symbolic, figurative and part-time responsibility. The modern day university administration is sensitive, competitive and tough job which essentially requires a thorough professional attitude and sector-wise good will and integrity. If you are not good in this then days have gone when state owned cow was giving milk and there was no nonsense around. Now, university leadership is increasingly getting a performance driven position and you are in neck to neck competition provided you feel like that! However if you don’t feel like that then soon you would start feeling heat underneath somewhere as no one would remain immune from the onslaught of sectoral changes.

Why to state all this here when we are talking about squeezed budgets and clutching financial allocations? The rationale is simple as mobilization of resources, placement of efficient systems and achievement of strategic objectives are well recognized terms of reference for a leadership candidates and aspirants. They have to deliver or divorce: a clear-cut choice. The third option is institutional demise as a victim of self-perpetuating and unsustainable regime which must be avoided. It is the hight time for all of us to realize this dynamics at IIUI and go for a massive transformation process: top to bottom, across the campuses, administration to faculty and attitude to body language!

We have to confess that we don’t have a uniform and standard working environment at IIUI. Institutional reforms are inevitable in a system where a few work more-out of choice or compulsion- and the most of us treat it as part time ad-hoc job. In our system virtually no consultation takes place about crucial institutional matters such as career development, trainings, curriculum design and integration, outreach and expansion, resource generation and budget management etc. Except for a certain cases, a standard communication at IIUI is one way i.e. from top to bottom with a language of adherence and observance. We clearly lack a space for dissenting views and ironically we are by definition a civil society setting. Then there are all sorts of transparency issues. Who makes the budget, how is it made, what are our typical funding sources, what is, if any, IIUI endowment’s health, what is in true sense a self finance program and how and to which extent programs are subsidized? How do we resolve equity issues when it comes to resource generation etc., how do we decide about massive (and some times crazy) expansion and above the all what do we want to achieve by the end of the day—all are open questions and presumably there should be some satisfactory answers in certain cases but given the lack of transparent reporting system and public oriented communication policy, one has to struggle with all of them. The time has come for all of us to recognize that we are a largely public funded institution and we should be answerable to our stakeholders: students, employees, donors and masses. After all this is the money which we are getting from them in one way or another but out reporting track record is very poor…..to be continued.

IIUI Mathematics Department Marches ahead

IIUI Mathematics Department Marches ahead
From: http://www.iiu.edu.pk/news/june_08.html#mathematics

Two Faculty members of the Department of the Mathematics, International Islamic University Islamabad, Drs. Ambareen Afsar and Tariq Javed have successfully completed their Ph.D degree from Quaid-i-Azam University. It is worth mentioning that Dr. Tariq Javed and Dr. Ambreen Afsar have published 12 and 06 research papers respectively in HEC recognized ISI journals during their Ph.D studies. In another development, Prof. Javed Ahsan of the same department has published a book entitled, "A Homological Approach to the Theory of Monoids" of international level. This book is a new addition in Mathematics literature for the research students of pure Mathematics.

The first batch consisting of seven students have completed their MS in Mathematics, of these students, two have published their research work in the international journals recognized by HEC.

Dr. Rahmat Ellahi Chairman Department of the Mathematics, International Islamic University Islamabad, has published 12 papers in ISI approved journals of HEC in 2007-2008. The details of the papers are given below for the interested researchers.

1. Exact solutions for Couette and Poiseuille flows for fourth grade fluidsActa Mech Vol. 188 (2007), 69-78, Austria
2. The influence of variable viscosity and viscous dissipation on the non-Newtonian flow: An analytical solutionCommunication in Nonlinear Science and Numerical Simulations, Vol. 12 (2007), 300-313, USA.
3. Unsteady magnetogydrodynamic non-Newtonian flow due to non-coaxial rotations of a disk and a fluid at infinityChemical Engineering Communication, 194 (1) (2007) 37-49, USA
4. The influence of a Partial Slip on Flows of a Second Grade Fluid in Porous Medium Journal of Porous Media, Vol. 10(8) (2007) 797-805, USA.
5. Couette flow of a Burgers fluid with rotationFluid Mechanics and Research, Vol. 34(6) (2007) 548-561, USA
6. Some MHD flows of a second grade fluid through the porous medium Journal of Porous Media, Vol. 11(4) (2008) 389-400, USA
7. Hall effect on the unsteady flow due to non coaxially rotating disk and fluid at infinityChemical Engineering Communication, 195(8) (2008) 1-19, USA
8. Exact solution of a thin film flow of an Oldroyd 6-constant fluid over a moving beltCommunication in Nonlinear Science and Numerical Simulations, (online available) 2008 USA
9. On the analytic solution of non-linear flow problem involving Oldroyd 8-constant fluidMathematical and Computer Modeling 2008 (online available), Austria
10. Exact solutions for thin film flow of a third grade fluid down an inclined plane Chaos Solitons & Fractals (online available) 2008, USA
11. Effects of the slip boundary condition on non-Newtonian flows in a channelCommunication in Nonlinear Science and Numerical Simulations, (online available), 2008 USA.
12. Effects of variable viscosity in a third grade fluid with porous medium: An analytical solutionCommunication in Nonlinear Science and Numerical Simulations, (online available), 2008 USA

IIUI Demands Restoration of Grant

IIUI demands restoration of grant
Commerce Reporter: http://www.thepost.com.pk/Arc_CorpNews.aspx?dtlid=167954&catid=8&date=06/21/2008&fcatid=14

ISLAMABD: In consequence of the drastic cut in the grant-in-aid for the last quarter of the last financial year 2007-08 by the Ministry of Finance and in the next financial year 2008-09, a joint emergency meeting of the association of the staff, officers and teachers of the (IIUI) was held. The meeting was attended by Academic Staff Association (ASA) President Prof Arshad Zia, Officers Welfare Association (OWA) President Ch Yaqoob Ali, University Staff Welfare Association (USWA) President Haji Masood Ahmed and other office-bearers of the association. The participants expressed their deep concern over the action taken by the Ministry of Finance and showed their difficulties on the decision which would debar them from receiving the monthly salaries as well as difficulties in the coming financial year. All the three Associations demanded the restoration of the deducted grant in the year 2008-09 as determined by the HEC. It was also discussed that this drastic cut would also disturb all the academic, research and training activities of the university and will have negative impact on the running semester. The meeting also decided that a joint strategy would be adopted in collaboration with association of other public sector universities.

Muslehuddin Trust Fund, the Rector Scholarship and now IIUI Scholarships: A continuation of same sorry tale?

Muslehuddin Trust Fund, the Rector Scholarship and now IIUI Scholarships: A continuation of same sorry tale?

We have already shared a news from iiu.edu.pk on this blog regarding the announcement of 29 HEC sponsored PhD scholarships in selected fields. This is definitely a welcome move given the impression that IIUI was somehow lagging behind in hunting HEC sponsored scholarships. Though many IIUI students and some faculty members are already pursuing research studies in various countries under HEC’s open merit scholarship program but the need was felt to negotiate a comprehensive scholarship program with HEC especially for IIUI faculty development and capacity building. Several public sectors universities are already undertaking such programs and this funding for IIUI is marvellous by all standards. Our thanks to all who dedicated their times and efforts in this regard!

Being an “old” IIUI fellow now, this recalls me the state of affairs before few years when young, exited, energetic and ambitious faculty members were desperately looking for funding opportunities to accomplish their PhD projects but virtually not a single prospect was there within IIUI. Whenever the matter was raised and needs were identified, people were reminded about the history of faculty members’ cheat and deception. Yes, I am referring to the same IIUI fairytale: the sad demise of Muslehuddin Trust Fund and the Rector Scholarship. My generation of Islamians does not know much about the Muslehuddin Trust and by the time we reached there, accounts were desiccated with beneficiaries flown and ledgers closed!! We have been told that some very promising, shining and intelligent people came, won the grants, left for different destinations and finally they never came back—at least to IIUI. There can be some exceptions as usual but by the end of the day given the lack of resources, the Trust’s scholarships program was abandoned. This was a generational tribute to a legendary scholar of Islamic Law: Dr. Muslehuddin.

In a relatively short span of time, the history was repeated again in the corridors of IIUI. With precisely the same plot and shooting locations, the victims were again IIUI faculty members who really wanted to undertake PhD projects with no funding available from their institutions. Once again, some very shining, high spirited and deeply motivated souls came, got the scholarships from the Rector Funds, secured their degrees (and in some cases even did not bother to do that or secured degree in disciplines their than their designates area of specialization) and finally they never came back!! Of course, exceptions were there as usual but the Fund was not left with adequate surplus to support further foreign scholarships. This was the tribute of our generation Malik Miraj Khalid.

Since then the talk of scholarship became a taboo at IIUI. I still recall that how Dr. Mahmood Ahmad Ghazi-our then President- used to tell us that there was no funding as some “cheaters” had managed to be our predecessors! Most of them could not come back on account all sort of reasons ranging from opportunity costs to IIUI’s poor internal working environment and academic culture. Perhaps we should not get into merits of their arguments here and let them make their own case if they are at all willing. From IIUI perspective it is important to analyse this situation for the sake of institutional integrity and future planning. Most of the scholarships given under the aforementioned two programs were sort of hand picked choices. In the absence of a transparent, merit based and consultative robust process, if you would award a scholarship then the subsequent generations must not share the burden of others’ guilt. We would always insist that all “cheaters” should be categorically named and shamed along with those who were responsible for secretive and non transparent allocations and the onus of proof is conspicuously two way in this regard. But for sure, it should not have any negative implications for future generations as it used to be.

What’s the morale of this story for our new HEC sponsored scholarships program should not be a missing link by now. If we-at IIUI- can learn some lessons from our previous failures by following a merit-based, equitable and transparent award mechanism then no one would be writing a third sorry tale for our next generations. We wish that history may not repeat itself this time but the onus here rests solely on current bosses.

Re: MoU Between AIT and IIUI

This is of course a good news but let me ask a question: what happens after signing such MoUs in terms of follow up, implications, capacity building, transfer of knowledge/technology, mutual cooperation and faculty exchange?

Over the last few years we have read about a considerable number of MoUs signed between IIUI and several other universities and academic institutions but we could not see any thing happening pursuant to these understandings. It’s the time for IIUI administration to devise and formulate a policy (for those who don’t know there, a policy is “a line of argument rationalizing the course of action”!!) about such initiatives through an active engagement of faculties so the real stakeholders—the faculty members-- should know about the potential opportunities and academic linkages. At the moment, it is no more than an administration to administration activity which has no academic benefit altogether. A third party evaluation of all MoUs signed by IIUI can adequately establish this point. If we really want something out of academic linkages, let the faculty come and identify their partners and the bosses should keep themselves away for a while! Let’s try bottom-up approach in some cases too instead of ever-greening top-down initiatives.

communiK

The latest issue of Communik-newsletter of Department of Computer Science-IIUI (May 2008) is published online at http://communik.wordpress.com/. In this issue:

"Ayesha narrates her initial impression of Software Testing.
Shuaib talks about Open Source software and business, and the bit of sense-of-responsibility that needs to be there.
Usman shares an everyday life experience when you find yourself in no less than a wonderland.
Aamir puts an interesting riddle your way. See if you can solve it.
Suffering from loneliness?
Getting bored? See what Brian Russell has to say about Software Relativity."

MoU between AIT, IIUI inked

MoU between AIT, IIUI inked
By Ali Imran ISLAMABAD
http://dailymailnews.com/200806/22/news/dmcitypage06.html

A Memorandum of Understanding for academic cooperation was signed between the Asian Institute of Technology (AIT), Bangkok and the International Islamic University, Islamabad (IIUI) at the New Campus of IIUI. AIT was represented by its President, Professor Said Irandoust and President, IIUI, Dr. Anwar Hussain Siddiqui. The MoU opens ways of cooperation in research and education by the two leading institutions of Asia. Dr. Irandoust in his remarks appreciated role of the International Islamic University, Islamabad in promoting quality education in this part of the world. He expressed his happiness over speedy expansion of the IIUI, which has now a student population of over fourteen thousand out of which five thousand are female. Dr. Anwar Hussain Siddiqui in his remarks highlighted the role of engineering and technology for well being of nations. He said that being aware of this fact the university has branched out to contemporary fields of education including engineering, science and technology. He added that the IIUI is planning to have its own medical college with latest and well-equipped hospital in near future. Earlier, delegation of AIT headed by Professor, Irandoust called on Dr. Anwar Hussain Siddiqui and discussed about furthering mutual cooperation. Dr. Naveen Anwar, Associate Director of AIT, Dr. Abdul Majeed, Director, Strategic Planning Cell of IIUI were also present on the occasion. The delegation also had meetings with Deans, Chairpersons and senior faculty members of the IIUI.

Campus roundup: IIUI moot leaves a bad taste in mouth

Campus roundup: IIUI moot leaves a bad taste in mouth

Daily Times: http://www.dailytimes.com.pk/default.asp?page=2008%5C06%5C12%5Cstory_12-6-2008_pg11_4

By Sohail ChaudhryISLAMABAD: A two-day international conference held this week at International Islamic University, Islamabad (IIUI) disappointed the university administration and students, as most of the speakers strayed from the topic ‘Islam and Modernity’.IIUI official Mehmood A Farooqi told Daily Times that the conference was arranged for discussions on the topic for a better understating of Islam but speakers did not remain focussed.Many of the speakers were found complaining about shortage of time, 20 minutes to each speaker to read the papers.One of the students, who attended the conference, pointed out that the discussions followed by the addresses of different speakers had further confused her.Most of the scholars preferred to comment on other’s points of view. A very hot debate took place between Prof Shahid Alam and Prof Pervez Hoodbhoy when they commented on each other’s presentations. Unfortunately, they started criticising each other’s personality, which left the audience surprised.The IIUI administration was not satisfied with the proceedings of the conference, on which it had spent over Rs 800,000, said a senior official.

Faculty Development Scholarships

Applications are invited from qualified persons for 29 HEC sponsored overseas scholarships (13 Male, 16 Female) for Ph.D studies in the reputed and recognized Universities abroad for the following disciplines

LAW
ECONOMICS
PSYCHOLOGY
POLITICAL SCIENCE
COMPUTER SCIENCE
ENGLISH
MANAGEMENT SCIENCES
TELECOM ENGINEERING
MASS COMMUNICATION
BIO INFORMATICS
MATHEMATICS
MINIMUM ELIGIBILITY CRITERIA

The applicant shall be Pakistani/AJK National.
Candidates should have minimum M.Phil/MS degree (18 years of education) in the relevant discipline from HEC recognized University/Institution.
Should have not less than 50% marks in total throughout the academic career.
Maximum age on June 14, 2008a. 40 years for full time regular faculty members of public sector Universities/Colleges and employees of the public sector R&D organizations.b. 35 years for all others.
Candidates must have acquired the requisite academic qualification on the cut off date of the application i.e. 14.06.2008.
Persons in receipt of any other scholarship offer are NOT eligible to apply

APPLICATION PROCEDURE

Application form will be filled out online and printed copy of online application from will be submitted along with non-refundable processing fee of Rs.500/- in the form of pay order/bank draft in favor of Additional Director (Finance), IIU. Attach following documents along with the prescribed application form
CV/Resume
Attested photocopy of CNIC
Most recent photographs (4 Nos.)
Attested photocopies of all Educational Testimonials, Equivalence of the foreign qualification/s from IBCC/HEC will be required.
Statement of Purpose for pursuing higher studies (max. 500 words)
Research Proposal
NOC from the employer (In-service candidates)
Attested photocopy of NTS/GRE/GMAT score. GRE/GMAT is required only for Physical Sciences, Engineering & Technology and Business Education disciplines.
Attested photocopy of confirmed admission for PhD.
Three letters of reference from the academic/research supervisors
The eligible faculty members of IIUI, if interested, are advised to route their applications through proper channel. They are not required to pay the processing fee of Rs.500/-

NOTE

All above documents should be in proper order.

IMPORTANT NOTE

All scholarships will be awarded on open merit.
Confirmed and unconditional admission letters should clearly state that admission is in PhD..
In-service candidates should apply through proper channel. Advance copies will not be entertained.

Funding for a maximum period of 4 years will be provided for PhD studies.
Awardees have to execute a bond with the IIU to serve it for 5 years after completion of study..
Continuation of Scholarship shall be on the basis of satisfactory performance certified by the respective Supervisor.

Teachers from the IIU will be preferred for grant of Scholarship
Incomplete and applications received after due date will not be entertained.

NOTE

The IIU reserves the right to short list the candidates and to reject any/all applications without assigning any reason.

Applications on prescribed forms to be duly duly completed in all respects should reach the Assistant Director (Academic Policy, Planning & Coordination), International Islamic University, New Campus, Sector H-10, Islamabad by June 14, 2008 through registered mail or courier service. By hand application will not be entertained.

IIIE Conference on Economic Challenges Faced by Pakistan

IIIE Conference on Economic Challenges Faced by Pakistan Concludes Ahsan Iqbal, Dr. Anwar Siddiqui, and others addressed

The two day National Conference on Economic Challenges Faced by Pakistan arranged by the International Islamic University, Islamabad (IIUI) Concluded here. Former Federal Minister for Education Ahsan Iqbal was Chief Guest in the concluding session. He said that Pakistan is faced by tremendous problems summarized in 3 Es that is Education, Energy and Enterprise. He was of the view that continuous dictatorship has harmed the country a lot. He also advocated early construction of small, Medium and Large size dams to get rid of present Energy crisis. About Education he said that it should be linked with industry to cater its requirements.Dr. Anwar Husssain Siddiqui, President International Islamic University, Islamabd (IIUI) was also present on the occasion. He announced that the university has realized this need of the hour and for that it has devised long term policies. Leading economists and scholars presented papers and delivered lectures on various aspects of the economy of Pakistan.

The economists and scholars who spoke on the second day of the conference included Dr. G. M. Arif Dean Faculty of Development Studies Pakistan Institute of Development Economics, (Islamabad) on "infrastructure and poverty nexus: the case of Rural Pakistan", Mr. Muhammad Naveed Iftikhar Research Associate Ministry of Finance, (Islamabad) on "Economic reforms, WTO and export competitiveness: A case study of Pakistan", Ali salman, Economist and entrepreneur & Jawad Aslam, Activist and Entrepreneur, Saiban-NGO (Lahore) on "property Rights: Ensuring well being through low income housing". In the second session on the same day speakers to include Dr. Ather Maqsood Ahmed Member (Fiscal research & Statistics) federal Board of Revenue (Islamabad) on a "critical appraisal of taxation Reforms in Pakistan: challenges and future prospects", Dr. Mumtaz Anwar, Assistant professor (Economics) University of the Punjab, (Lahore) on "fiscal imbalances and inflation: A cases study of Pakistan", Dr. Shahid Hasan Siddiqui, research institute of Islamic Banking & Finance (Karachi) on "performance of banking sector in Pakistan". In the third session on same day speakers to include Dr. Abdul Salam, Professor of Economics, Federal Urdu University of Science & Technology, (Islamabad) on "food security, current situation, challenges and opportunities", Dr. Abid A. Burki, Professor of Economics and Dr. Mushtaq Ahmed Khan, Associate Professor of Economics, LUMS (Lahore) on "Price support and wheat market policy in Pakistan: Futuristic of Food security", Saima Ayaz, Zakir Hussain, Sofia Anwer and waqar akram, University of Sargodha, (Sargodha) on "producers and consumer subsidy equivalents of wheat crop in Pakistan".In the fourth session on the same day speakers to include Dr. Syed Tahir Hijazi, Dean Faculty of Social sciences, IIUI on "Pakistan Current Energy problems", Javed Anwar Lecturer, IIIE, IIUI (Islamabad) on "Energy security and the developing country: Issues, strategies and options", Dr. G.M Arif presented the issue of infrastructure and poverty Nexus: The Case of rural Pakistan. He said that the absence of physical and social infrastructure and lack investment in human capital are the main causes of poverty in many areas. Mr. Naveed Iftikhar, Spoke on economic reforms, WTO and export competitiveness: A Case of Pakistan. He mentioned the economic reforms introduced in Pakistan which include reduction in tariff rates, autonomy of state bank of Pakistan and securities and exchange commission and privatization of public owned institutions. He suggested that to improve our exports we should reform our support institutions, try to diversify our exports and improve the quality to gain competitiveness in the world market. Ali Salman spoke on property rights: ensuring well being through low income housing. He presented picture of housing needs in Pakistan especially in the middle class. He estimated that the potential demand for low cost housing is around US $ 15 billion. Dr. Ather Maqsood Ahmed, Member Federal Board of Revenue of Islamabad Presented a critical appraisal of taxation reforms in Pakistan. He said that besides being simple and fair, the taxation system should be growth promoting by enabling flow of domestic and foreign saving towards productive investment. Since such a system cannot be sustained, a change is absolutely inevitable. Dr. Shahid Hassan Siddiqui, Chairman, research INtitute of Islamic Banking and finance, Karachi presented a brief account of performance of banking sector: impact and Pakistan's Economy. He said that this is an alarming situation that resources are being transferred from poor to the rich on the one hand and leaving harmful impact on the economy on the other. He also recommended appointment of a commission to thoroughly examine various malpractices/mismanagement of resources, particularly since 1997, to arrive at the root cause, at the same time to save from repeating the same experience. Ayesha Serfraz and Mumtaz Anwar jointly spoke on fiscal imbalances and inflation: A case study of Pakistan. They take stock of history and states varying trends in inflation. Dr. Zubair said that the major macroeconomic indicators relating to monetary and fiscal measures have not been aligned to achieve the viable results. He was particular to the influx of funds consequent to 9/11 which could not be productively utilized. He pointed that high tax/GDP ratio in developed counties was result of volunteer-ship indicative of people's confidence upon their governments with respect to utilization of such resources. Finally, he was conclusive of the fact that the poor were sharing the tax burden of the rich people in Pakistan's case which needed appropriate reforms. Dr. Abid A. Burki and Dr. Mushtaq Ahmed khan spoke on impact of higher wheat prices on poverty in Pakistan futuristic of food security, Dr. Abdul Salam on current situation, challenges and opportunities and Saima Ayaz, Dr. Zakir Hussain, Dr. Sofia Anwar and Dr. Waqar Akram on producers and consumer subsidy equivalents of wheat crop in Pakistan. Other Speakers touched upon other basic issues faced by Pakistani economy.

Here are some glimpses and highlights of speeches made during the conference. Sales Tax on manufactured goods must be lowered as the imports are facing lower tax rate as compared to domestic manufactured which are facing higher sales tax thus a level playing field is provided to the domestic products. New methods to impose sales tax on retail trade services must be introduced. For example levying taxes o the basis of square feet area of the business premises must be introduced so that competition to manufacturing sector can be reduced.The average import duty has been brought down to even below that what is required by WTO regulation and has contributed to domestic industry loosing market share within the country. This duty must be increased to at least 5% point. Another policy that can be adopted to increase the competitiveness of the manufacturing sector is to impose the import restrictions on the luxury items. It will though reduce the import revenue but it will serve to rein the rate of growth of the trade deficit. Under invoicing of imports is a serious problem to domestic industry. A measure equivalent to the concept of the "right of first purchase" may be helpful. This can be done by placing the invoice of arriving goods consignment on the web site and entitle any party within a 3 to 5 working days period to purchase the consignment by paying say a minimum 25% premium. The capital gain tax must be introduced. This tax may be exempted if the shares have been held for a period of at least 6 months. This measure will reduce profitability compared to manufacturing sector. There has been lot of profitability in buying and selling of land. This has discouraged investment in manufacturing sector as the profitability is low in the sector. To reduce the profitability in land business, consideration may be given to completing the process of computerization of land records and to introduce the concept of right of first purchase to enable the government to purchase any property for sale at a premium of say 20 to 25%. It will curb speculating trading in land thus lowering the profitability in this business.Luxury housing competes with manufacturing for investment funds. A tax on luxury housing will raise its cost thus by raising the relative profitability of manufacturing sector. The sectors which are enjoying the windfall gains like oil & banking may be subject to high taxes. This will not only raise the revenue to the exchequer but also increase the relative profitability in manufacturing sector.Gas prices to domestic users and to industrial users must be the same, if not higher for the domestic consumers. Net resource flows to the public sector both from abroad and domestic private sector tend to crowd out savings in the public sector. Private savings are crowded out by net foreign resource flows to the private sector. The perception that Pakistan has reached the current state because most of its borrowing is used for consumption rather than development activity does not find support from the data. The shrinking of development activity in Pakistan during the 1990s was the result of shrinking foreign resource flow and rising debt servicing cost. Although there are many instances of misappropriation of public resources, unfortunately such instances somehow overshadow the positive side. Pakistan is a unique country in the sense that it has achieved respectable economic growth despite poor social indicators such as education and health.Foreign aid has played a positive role in its economic growth as is evident from high GDP growth figures during the 1960s, early 1980s and mid 2000s. During the 1960s, Pakistan borrowed at ease because it was a newly born country, had ambitious development plans and above all had no immediate pressure of debt servicing. The debt position in the 1980s remained mostly under control due to generous American aid as a reward for Pakistan's logistic support in the Afghan war against the then Soviet Union.The debt crisis of the 1990s got reversed because of the events that unfolded after the September 11 event, especially Pakistan's active role in the fight against terrorism. The major economic hurdle for Pakistan to come out of the crisis was its inability to service the outstanding debt and the drying-up of net resource inflow from abroad, in addition to shrinking foreign investment and workers' remittances.Although institutional weaknesses, public sector inefficiency and corruption cannot be ignored, these have to be addressed in the overall context of management in public sector rather than economic management alone, let alone debt management. Poor record of debt management in Pakistan is the outcome of weak institutions and addressing this issue has to become a larger objective. Domestic borrowing in Pakistan is mostly from individual lenders or financial institutions that lend voluntarily in return for high interest rates and are not organized to impose preconditions for lending. On the other hand, most of foreign borrowing is directly or indirectly linked to international institutions and their motive for lending is not interest earning. In order to justify further lending, Pakistan has to satisfy the lenders that the borrowed funds are used productively. There are two objectives of the monetary policy, Economic growth and price stability. To achieve these objectives central bank has two targets, real GDP growth and controlling the inflation. It is shown that most of the time monetary authorities have not been successful in achieving the target inflation rate. It is also shown that there is an intermediate target to achieve inflation which is broadly defined money supply. Historically, monetary authorities have been relatively more successful in achieving target money growth broadly defined. It is concluded that relatively less success in achieving inflation target has been due to instability in the velocity of money. It is also shown that there is almost two years lag between policy interest rate and deposit and lending rate which makes monetary policy implementation difficult. The paper concludes that inflation in Pakistan can be cured by sufficiently tight monetary policy. The formulation of monetary policy must consider the development in the real and financial sector and treat them as constraints on the policy There should be coordination between SBP and Federal Government to use fiscal and monetary policy effectively.

International Conference on Islam & Modernity

International Conference on Islam & Modernity at IIUI Mushahid Hussain, Prof. Khurshid, Dr. Manzoor, Tamara Sonn, Pervez Hoodbhoy, Dr. Anwar Siddiqui, Misbah Saboohi and other Scholars addressed.

http://www.iiu.edu.pk/news/june_08.html#modernity_conference_end
Two day International Conference on "Islam & Modernity" was held at the International Islamic University, Islamabad (IIUI). Dr. Manzoor Ahmad, Rector, IIUI and Chairman, Governing Council, Iqbal International Institute for Research & Dialogue (IRD) inaugurated the ConferenceDr. Manzoor Ahmed said the problem of Islam and modernism, as a matter of fact, lies in developing a new hermeneutic for understanding the sacred word. It is not only required to understand the sacred but also to understand language used in any universe of discourse. Muslims, in the beginning of the history of Islam, welcomed Greek logic and developed a very systematic doctrinal system. The problem of modernity lies in trying to find out whether certain alternative systems can be built which may not be totally in consonance with the classical deductive system, yet they reflect the true spirit of Islam. The difficulties for Islam do not arise because of any scientific development but because of the changes in perception about social structures and systems. How far the new insight into the nature of social structure can be accommodated within the basic Islamic faith is the question that has to be dealt today. We may have to deviate from the methodology used by our classicists and develop a new logical approach admitting the possibility of plurality of discourse. Such, to my mind, is the problematique of Islam and modernity today.Senator Mushahid Hussain Syed said that it is high time for Muslims to rethink their strategy towards others in the comity of nations. They should not keep blaming others for their own mistake and misfortunes. The Muslims should bear their responsibilities towards creating a peaceful world. Mushahid added that it is true that Muslims are being chased and attacked by their opponents but they should keep in mind that they have to build their own future.Prof. Khurshid Ahmed said that although there are a lot of differences between Muslims and followers of other religions but they is great space for tolerating each other. He was of the view that Muslims should encourage and involve in meaningful dialogue with others in a respectable way.Dr. Anwar Hussain Siddiqui, President International Islamic University, Islamabad (IIUI). Dr. Siddiqui emphasized IIUIs commitment to providing a favourable environment for advancing such scholarly exchange.Dr. Mumtaz Ahmed , Executive Director Iqbal International Institute for Research and Dialogue (IRD said the idea of this conference emerged from our dissatisfaction with the current mode of debate on both Islam and modernity, here in Pakistan and the rest of the Islamic world and in the west. Has there been a monolithic Islamic experience and response to what is commonly understood as modernity? Have not there been multiple modernities? If the answer to the first question is No, and the answer to the second question is Yes, then, I believe, it is time to critically reexamine the very nature of the Islam-modernity debate and to understand the ideological-political purposes behind framing the question in this binary and contradictory mode.Ms. Tamara Sonn, Dr. Pervaz Hoodbhoy, Dr. Zafar Ishaq Ansari, Noman-ul-Haq, Dr.Muhammad Farooq Khan, Aasim Sajjid Akhtar, Khaled Ahmed, Salman Sayyid, Misbah Saboohi, Asad Farooq, Suroosh Irfani ,M. Shahid Alam and Dr. Khalid Masud also spoke during the conference. All the speakers stressed upon the need of revisiting actual Islamic teachings which advocate creation of harmony among followers of existing religions in best interest of humanity at large. They said that pure Islamic values have no conflict with any other faith and there was quite good coexistence in past which can be revived.

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