The core purpose of the study is to analyze the effects of the energy problems on the competitiveness and performance of major selected Pakistani industries. The data used for the study is from the years 1999 to 2015. The industries used in the research are Leather, Textile, Tobacco, Pharmaceutical, and Sugar. The Balassa Index is firstly used to compute the competitiveness of the above-mentioned industries and reveals that except tobacco industries all other industries sustain a comparative advantage even before and during the crisis regime. Secondly, a GMM estimation is done to analyze the effect of energy problems on the performance of the companies. The conclusion of the paper suggests that the supply of energy has a crucial role in enhancing the net return and competitiveness of the industrial sector in Pakistan.

Pakistan meets nearly one-third of its energy needs through imported energy resources i.e. coal, oil and Liquefied Natural Gas (LNG). Despite significant investments in energy infrastructure (especially in power generation projects), Pakistan continues to be energy insecure. This study attempts to analyze the substitution possibilities within energy sources, and between energy and non-energy factors by using a trans-log production function. The results show positive substitution between labor-energy and capital-energy which means improved skills and knowhow could result in energy conservation. Moreover, substitution of oil by gas in Pakistan will be highly encouraging as such substitution will address the issue of heavy import bill.

Higher education and unemployment is a substantial concern for developing countries and developed countries as well. To get the empirical evidence of the Pakistan economy, the present research is being carrying on. This study applies time series data in nature covering the period from 1985 to 2018. Assessing the long run association within the policy indicators and commuting the causality of higher education and unemployment, two different econometric techniques Johansen Co-integration and Granger Causality test is arrayed whereas the annual speed of adjustment is estimated when disequilibrium enters in the system through VECM model. The Johansen Co-integration’s test reports 5 co-integrating equations and error term reveals 3 Percent for higher education in first model which postulate speed of adjustment in case of disequilibrium. Whereas second model explains 4 co-integrated and VECM reflects The results presents that any disequilibrium transpires in short term, higher education enrollment and unemployment will be converging to equilibrium in the long run at the speed of 32 and 36 percent correspondingly. The Granger causality test’s findings imply that higher education does not affect the unemployment whereas unemployment is reported to be responsive towards higher education which means unemployed labor force again enroll for higher education to absorb capacity for new professional avenues by producing innovative and constructive ideas.

Current accounts and Ijarah has been foremost and important tools operated by the Islamic Financial Institutions. This study attempts to explore a few misgivings in the handling of current accounts by the Islamic banks in Pakistan. Financial management of Islamic banks is not under consideration which leads to the violation of Shariah’s fundamentals. Also in case of Ijarah, a bank’s client suffers from financial losses which must be borne in Islamic Banking system. Islamic Banks transfer the burden of some charges emerging form ownership of leased asset on their clientele which does not have any justification according to Shariah. This research has been carried out by taking unstructured interviews from some of the concerned staff of Islamic Banks. The results depict that current accounts and Ijarah is in operation and need to be revised and refined and must comply with Shariah.

Income inequality undesirably affects the living standards of the people in the different parts of the world. The main objective of the paper is to find out the intensity of income inequality in capitalistic and socialistic economies in the world. The study helps to explore the empirical evidence that how income inequality impacts the life of the people under the umbrella of concurrent economic systems. The study is based on the panel data set. The Generalized Method of Movements (GMM) is applied and the results depict that Government revenues are inversely associated with income inequality in both economic systems. It happens because government expenditures in an account of social safety nets result in a decline in income inequality. On the other side, economic growth, and employment ratio hold a positive connection with income inequality under the parasol of socialism and capitalism. This research reveals that both systems are deficient to mitigate income inequality and leave the space for a new and balanced economic system.