Performance Measurement Systems in Banks by Rahat Munir Kevin Baird & Kevin Baird

Author:Rahat Munir,Kevin Baird & Kevin Baird
Language: eng
Format: epub
Publisher: Taylor & Francis (CAM)
Published: 2018-11-08T16:00:00+00:00

Notes

1Pakistan gained independence from British Rule on August 14, 1947. Pakistan is a country located in South Asia that covers an area of 803,940 square kilometers, almost the size of New South Wales, Australia, and a population of 184.753 million. In the south, it borders the Arabian Sea, with a coastline of 1,046 kilometers and stretches north to the Hindukush and Karakoram mountain ranges, with peaks as high as the Nanga Parbat (8,126 meters) and the K2 (8,611 meters). Pakistan is wedged between India, with whom it shares a border of 2,192 kilometers to the east, and Afghanistan and Iran, with whom it has 2,430 kilometers and 909 kilometers, respectively, of common border. It also shares a 523 kilometers border with China in the north.

The socio-cultural environment of Pakistan has its origin in the mixture of many cultures and is reflected in the diversity of different ethnic groups in matters such as customs, languages, and religion. More than twenty local languages are spoken in Pakistan and while Urdu is the national language of the country, English is the medium of education and language of officialdom. Pakistan is the world’s sixth most populous country.

Pakistan’s principal natural resources are land suitable for farming, water, and natural gas and coal reserves. About twenty-eight per cent of Pakistan’s total land area is under cultivation and is watered by one of the largest irrigation systems in the world. Agriculture accounts for about twenty-one per cent of GDP and employs about forty-two per cent of the labour force. The most important crops are cotton, wheat, rice, sugarcane, fruits, and vegetables, which together account for more than seventy-five per cent of the value of total crop output. Pakistan exports rice, fish, fruits, and vegetables and imports vegetable oil, wheat, cotton, pulses, and consumer foods. Cotton textile production and apparel manufacturing are Pakistan’s largest industries, accounting for about fifty-two per cent of total exports. Other major industries include food processing, beverages, construction materials, clothing, and paper products. Major imports include petroleum and petroleum products, edible oil, wheat, chemicals, fertiliser, capital goods, industrial raw materials, and consumer products.

2The Pakistan Banking Council (PBC) was formed under the Banks Nationalisation Act (1974) to perform various functions in line with the objectives of nationalisation, i.e., “to provide for directing banking activities towards national socio-economic objectives, co-ordinating banking policy and cooperation in various areas of feasible joint activity without eliminating healthy competition in various fields of operation, and ensuring complete security of depositors’ funds” (Para. (ii) of preface of Banks Nationalisation Act, 1974).

3The banking crisis in Pakistan in 1997 coincided with the Asian financial crisis. While the Asian financial crisis affected most of Southeast Asian countries, its impact on Pakistan’s banking sector was minimal (Kaufman et al., 1999). None of the participants indicated that the Asian financial crisis had an impact on Pakistan’s banking sector and FUB.

4Pakistan Financial Sector Assessment 1990–2000, State Bank of Pakistan (2000).

5According to the State Bank of Pakistan Annual Report (2000), the World Bank provided a loan of $200 million in 1997 under the Financial Sector Adjustment Loan.

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