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PM to Inaugurate the First One-Window EHSAAS Center Tomorrow

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Under the Ehsaas umbrella, there are many programs for 14 different target groups. But often, a poor family is not aware of the benefits they are entitled to and, if they are aware, they have to go to multiple offices to seek help. With One Window Ehsaas, the aim is to deliver services through a single window, a one-stop shop.

One Window Ehsaas has six pillars: A One Stop Shop, the Ehsaas Center; a public facing digital information and services platform; mobile app; back office consolidated digital interface; Cognitive API architecture, or the integrated national socioeconomic database; and finally, the Ehsaas One-Window Beneficiary Selection and Targeting Policy.

The first One Window Ehsaas Center is opening in Sitara Market today in Islamabad. In this center, all Ehsaas services can be accessed in one place. To facilitate Ehsaas Kafaalat beneficiaries, whose families receive stipends, both Point of Sales machines as well as cash machines or ATMs have been placed in the One Window Center. Partner banks have opened their branches in the center, and NADRA office has been set up as well.

Having all these services in one center can significantly facilitate an Ehsaas Kafaalat beneficiary, who often previously needed to go to many offices to get complaints resolved. Ehsaas stipends for children can be accessed at the center also. The digital system, which has recently been put in place does real time verifications from three data sources before the child is enrolled in the program and if the child doesn’t have a Birth registration form—which is a prerequisite for enrollment—the mother can just walk the courtyard to get it made in the NADRA center rather than taking taxi to go to another site. Ehsaas Nashonuma services are also available in the center.

Children at risk of stunting and pregnant mothers can get specialized nutritional food from the office and cash stipends from the ATM. They get awareness session as well on health and nutrition. Antenatal services and immunization services are available at the center. Students can walk into the center and get information about Ehsaas Undergraduate Scholarship, and they don’t have to pay in an internet café to fill their application.

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In the One Window center, there is free use of internet, computer and printer. In the One Window center, someone, looking for a livelihood opportunity can visit Ehsaas Amdan and Ehsaas Interest Free Loan Desks. A person in need of financial assistance for health can find out about Sehat Sahulat and, if not entitled in Sehat Sahulat or not in an empaneled hospital can be channeled to Ehsaas Tahafuz or PBM’s health related financial assistance systems. In One Window service, there also are many care services. Somebody wanting to spend a night in Panagah can book a bed and get free One Star bed and breakfast facility.

People can admit a child in an orphanage; and a young woman can get information and be admitted in a vocational center. A street child can be admitted in one of our free schools. Ehsaas Registration Desks have been set up where people can get surveyed, to ascertain if they are eligible for Ehsaas benefits. In the center, Dashboards, display information relevant to people’s needs and complaints are addressed in real time.

There is also a beneficiary retiring room, in case a woman comes with a child and needs to feed her. A differently abled individual can have multiple avenues of redress in the center. Processes are being made simpler so that they can get a disability card made with ease. In the same disability room, NGOs are given space to provide free prosthesis and orthoses. Also, a customized wheelchair can be ordered.

The second part is the digital e-portal with people centered information; this was built learning from the questions on social media about various Ehsaas programs. The third part of One Window Ehsaas is an app which mirrors information on the digital portal but in addition, it also marks locations of our service sites: Langars, Panagahs and payment sites. When opened from a mobile, an individual can be navigated to the address.

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This app is enabled with a camera, which allows a photograph to pick the geolocation of an Ehsaas social welfare site to be mapped. The fourth part is the integrated digital interface facing the back office, which facilitates access of all those working in the Ehsaas ecosystem to appropriate links and resources. The fifth component of One Window Ehsaas is the integrated database. Previously the 2010 BISP data was siloed; even provincial social protection agencies had to do paperwork to access the database and there were costs involved.

Now, under the Ehsaas data reform, all federal Ehsaas implementing agencies will be able to access data from the 2021 Ehsaas National Socio-economic Registry through APIs with no cost at all. This two-way data sharing will also enrich the data repository. Data integration will also enable transparency. Agencies will be able to see what benefits an individual or the family are getting, and the entitlements they have in terms of various Ehsaas programs.

The sixth pillar of One Window Ehsaas, is the Standardized Beneficiary Targeting Policy. Previously, all agencies used their own eligibility ascertainment system—this Policy will compel standardized beneficiary targeting using the Proxy Means Test, which uses information on household and individual characteristics to compute an algorithm generated score (0-100) for each household, which then serves as a proxy for welfare status.

The information needed to generate the score comes from the National Socioeconomic Survey. So, in the One Window Policy specific PMTs were stipulated for each program and a policy devised to do away with duplications. “We will open Ehsaas One Window Centers in every district”, said Dr. Sania.

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Economy

Navigating Market Volatility: A Comprehensive Analysis of PCE Inflation Data, Fedspeak, and Dell Earnings

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Introduction

In the dynamic world of finance, staying informed about key indicators and events is crucial for making sound investment decisions. This article delves into the significance of Personal Consumption Expenditures (PCE) inflation data, Fedspeak, and Dell earnings, offering insights on what to watch for in these areas.

Understanding PCE Inflation Data:
PCE inflation data is a vital economic indicator that measures changes in prices faced by consumers for goods and services. Analyzing this data provides valuable insights into consumer spending patterns, inflation trends, and overall economic health. Investors closely monitor PCE inflation data as it influences monetary policy decisions by central banks like the Federal Reserve.

Interpreting Fedspeak:
“Fedspeak” refers to the public statements made by Federal Reserve officials regarding monetary policy, economic outlook, and interest rates. These statements are scrutinized by market participants for clues about future policy actions. Understanding Fedspeak requires interpreting the nuances of language used by Fed officials to gauge their sentiment and potential policy shifts.

Impact of Dell Earnings on Markets:
Dell Technologies, a prominent player in the technology sector, regularly reports its earnings which can have a significant impact on stock prices and market sentiment. Investors analyze Dell’s financial performance, revenue growth, and guidance to assess the company’s health and industry trends. Positive earnings results from Dell can boost investor confidence in the tech sector while disappointing figures may lead to market volatility.

Key Factors to Watch:

  • PCE Inflation Trends: Keep an eye on PCE inflation data releases to gauge consumer spending behavior and inflationary pressures.
  • Fedspeak Statements: Monitor speeches and comments from Federal Reserve officials for insights into future monetary policy decisions.
  • Dell Earnings Report: Stay informed about Dell’s earnings announcements to understand tech sector performance and broader market implications.
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Strategies for Investors:

  • Diversification: Spread investments across different asset classes to mitigate risks associated with market volatility.
  • Stay Informed: Regularly follow updates on PCE inflation data, Fedspeak, and corporate earnings reports to make informed investment decisions.
  • Long-Term Perspective: Focus on long-term investment goals rather than short-term market fluctuations driven by events like earnings releases.

Conclusion:
In conclusion, staying abreast of key economic indicators like PCE inflation data, interpreting Fedspeak accurately, and monitoring corporate earnings such as Dell’s can provide valuable insights for investors navigating volatile markets. By understanding the implications of these factors and adopting sound investment strategies, individuals can make informed decisions to achieve their financial goals amidst market uncertainties.

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Analysis

HSBC’s Q4 2023 Earnings Report: A Deep Dive into the Bank’s 80% Profit Tumble and the Impact of Chinese Bank Stake Charges

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Introduction

HSBC, one of the world’s largest banking and financial services organizations, recently released its Q4 2023 earnings report, which showed an 80% drop in profits. The bank attributed this significant decline to several charges it took during the quarter, including a charge on its stake in a Chinese bank. This news sent HSBC’s shares tumbling, and investors and analysts alike are now closely examining the bank’s financial performance and prospects. In this article, we will take a deep dive into HSBC’s Q4 2023 earnings report, analyze the reasons behind the bank’s profit tumble, and explore the impact of the charges on its Chinese bank stake.

HSBC’s Q4 2023 Earnings Report

HSBC’s Q4 2023 earnings report showed a significant decline in profits, with the bank reporting a pre-tax profit of $1.2 billion, down 80% from the same period in the previous year. The bank’s revenue also fell by 10% to $11.8 billion. HSBC attributed this decline to several charges it took during the quarter, including a $1.5 billion charge on its stake in a Chinese bank, a $1.2 billion charge on its US retail banking business, and a $1.1 billion charge on its UK retail banking business.

Reasons behind the Profit Tumble

The charges on HSBC’s Chinese bank stake were the most significant factor contributing to the bank’s profit tumble. HSBC holds a 19.9% stake in China’s Bank of Communications, which it acquired in 2004. The bank took a $1.5 billion charge on this stake due to the Chinese government’s crackdown on the country’s financial sector. The Chinese government has been tightening its regulations on the financial sector, and this has led to increased scrutiny of banks and financial institutions operating in the country. HSBC’s charge on its Chinese bank stake reflects the bank’s expectation of a decline in the value of its investment due to these regulatory changes.

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Impact of the Charges on HSBC’s Chinese Bank Stake

The charges on HSBC’s Chinese bank stake have significant implications for the bank’s prospects. China is one of the world’s largest and fastest-growing economies, and HSBC has been investing heavily in the country to tap into its growth potential. However, the Chinese government’s regulatory crackdown has made it more challenging for foreign banks to operate in the country. HSBC’s charge on its Chinese bank stake reflects the bank’s expectation of a decline in the value of its investment due to these regulatory changes. This could have a significant impact on the bank’s future earnings and growth prospects in China.

Conclusion

HSBC’s Q4 2023 earnings report showed a significant decline in profits, with the bank attributing this decline to several charges it took during the quarter, including a charge on its stake in a Chinese bank. The charges on HSBC’s Chinese bank stake reflect the bank’s expectation of a decline in the value of its investment due to the Chinese government’s regulatory crackdown on the financial sector. This could have significant implications for the bank’s future earnings and growth prospects in China. As HSBC navigates these challenges, investors and analysts will be closely watching the bank’s performance and strategic decisions in the coming months.

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Economy

The Magnificent 7: Global Profits Surpassing Nations – A Cause for Concern or Celebration?”

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american and chinese flags and usa dollars

Introduction

In the ever-evolving landscape of global economics, a recent development has caught the attention of many: the combined profits of the world’s seven largest corporations, often referred to as the “Magnificent 7,” have surpassed the GDP of almost every country on the planet. This staggering achievement raises questions about the implications of such concentrated wealth and power. In this blog article, we’ll delve into the details of this phenomenon, analyze its potential impacts, and explore whether we should be worried.

The Rise of the Magnificent 7

The Magnificent 7, a term coined by The Economist, refers to the seven largest corporations in the world by market capitalization. These companies, which include Apple, Microsoft, Alphabet (Google), Amazon, Facebook (Meta), Berkshire Hathaway, and Alibaba, have grown exponentially in recent years, amassing profits that rival the economic output of entire nations.

A Global Perspective

To put this into perspective, the combined profits of the Magnificent 7 have surpassed the GDP of countries like Switzerland, Sweden, and Belgium. This raises concerns about the distribution of wealth and power, as well as the potential for these corporations to influence global politics and economics.

The Benefits of Corporate Success

The success of these corporations has undeniably brought benefits to the global economy. They have created jobs, driven innovation, and provided goods and services that have improved the lives of millions. Their profits have also contributed to the growth of the stock market, providing returns for investors and pension funds.

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The Potential Drawbacks

However, there are also potential drawbacks to this concentration of wealth and power. Some of these concerns include:

  1. Monopolistic tendencies: The size and influence of these corporations could lead to the stifling of competition, limiting consumer choice and potentially harming innovation.
  2. Tax avoidance: The ability of these corporations to shift profits across borders to minimize tax liabilities could result in a loss of tax revenue for governments, potentially impacting public services and infrastructure.
  3. Privacy and data concerns: The vast amounts of data collected by these corporations could pose risks to individual privacy and security.
  4. Political influence: The financial resources of these corporations could give them undue influence over political processes, potentially undermining democratic principles.
Addressing the Concerns

To address these concerns, governments and regulatory bodies could consider the following measures:

  1. Antitrust laws: Strengthening antitrust laws and enforcement could help prevent monopolistic practices and promote competition.
  2. Tax reform: Reforming tax laws to prevent profit-shifting and ensure corporations pay their fair share could help maintain government revenue.
  3. Data protection: Implementing robust data protection laws and regulations could help protect individual privacy and security.
  4. Campaign finance reform: Limiting corporate influence over political processes could help maintain the integrity of democratic institutions.

Conclusion

The success of the Magnificent 7 is a testament to the power of innovation and entrepreneurship. However, their growing influence and wealth also raise legitimate concerns about the distribution of power and resources. By addressing these concerns through thoughtful policy and regulation, we can ensure that the benefits of corporate success are shared more equitably and that the potential drawbacks are mitigated.

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