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!title44.jpg (102714 bytes)The country needs large scale investment for boosting economic growth rate which cannot be achieved without boosting savings rate. The declining return on investment has become a serious impediment. It is desired that financial institutions should offer products to cater to the needs of various income groups. At the same time people should not look towards bank deposits/National Savings Schemes and also consider for options. While services of investment consultants may be available, the ultimate responsibility of making prudent decision lies with the investor.

Elixir Technologies Pakistan is the wholly owned subsidiary of Elixir Technologies Corporation, an US-based Pakistani-origin IT company which has development labs in Islamabad, California and Prague and offices in over half a dozen cities the worldover. Elixir enjoys a long list of international clients and strategic partnerships. It is one of the strategic partners in the preparation of Electronic Rolls project for National Database Registration Authority Pakistan. PAGE talked to the Chairman and CEO Basit Hamid during his brief stay in Karachi about his company as well as local IT scenario.

The quantum jump in workersí home remittances noticed during first two months of the current financial year, is being taken as a major change in the attitude of non-resident Pakistanis responding to the economic policies of the government. Workers remittances have been doubled during the period under discussion as compared to the corresponding period last year. Workers home remittances were estimated at $251 million during July-August 2000-2001 against the $131 million during the corresponding period last year.

The KalSoft of Kalia Group, a household name in the foreign exchange business, has developed software to introduce virtual university system in Pakistan. The software has been offered to the government free of cost. A number of foreign universities have appreciated the software and have expressed their intention for imparting virtual education across the world.

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