Sources of Foreign Financial Assistance

I.M.F: I.M.F provides relatively short to medium term loans for government to finance their trade deficit etc. The amount of loan depends on the amount of international trade which a country does.

World Bank: World Bank provides long term loans. These loans are provided for financing the long term development projects. These loans are very helpful as they mature in a long time and granted for development as it is very difficult to get finance development for a longer period.

ADB: ADB stands for Asian Development Bank. As the name suggests, it provides loans for development as well as for industries to the developing Asian countries.

Direct Lending from Rich Countries: Apart from financial institutions, many countries provide loans to the developing countries. America and Japan provide loans to many countries and Pakistan has repeatedly borrowed from America.

Political Obstacles

Feudalism: In rural areas, feudal not only have huge wealth but also have unlimited power. Their area power is another state in a bigger state. Their rein continues in perpetuity from one generation to another.

Law and Order Situation: Law and order situation in Pakistan has been very poor especially in a large metropolitan and hub of trading city like Karachi. Law and Order is essential for the Foreign Direct Investment. Deteriorated law and order situation not only affects trading and business activities but also creates a lot of fear and disappointment on the part of investors and businessmen.

Political Instability: Political instability has been Pakistan's worst political problem. Governments change every 2nd year. There is no consistency of policies. The projects of former government are abandoned by the later government and the money and time involved in that project goes wasted.

Corruption: Corruption in political circles is one very common thing in Pakistan. Pakistan one ranked second on corruption. Financial resources both from foreign aid and loans and from domestic loans go into the hands of corrupt leaders and the whole nation has to suffer.

Social Security

Social Security Ordinance was promulgated in 1965 which renders great help to the worker in difficult times. This Ordinance made it possible for the worker to maintain himself in time when there is no income due his disability to do any job which may procure wages in the form of money to him and the disability is caused by some dis care, or a female worker and the days of her nearing delivery of a child.
Social Security Institution has been set up by the Government for the implementation of this Ordinance. This Institution is a corporate body having a perpetual succession and a common seal.
Power of direction and superintendence of the Institution of vested in a Governing Body which is assisted by a Commissioner. In discharging its functions, the Institution will consist of a Chairman, four persons to represent the Government, one each for the department of Labor, Industries, Trade and Finance. Three persons will represent the employees, three persons will represent the secured persons and the medical adviser who will be an ex-official member.

Assignment

The transfer of right and liabilities under a contract is technically "assignment of contract". Prima facie, there cannot be an assignment of a contractual liability, and where the promise consents to accept performance from a third party, there is a substitution of a new contract and the old contract disappear and all rights and liabilities under it are extinguished. This is technically called "N ovation".
There is no section in the Contract Act which deals generally with the assign ability of contracts. A contract cannot effect any one but the parties may, under certain circumstances drop out and bring others in their place.

Contract Between the Parties

Sale of goods under Islamic provision is a Contract between a seller and buyer. For valid Contract it must be an offer and acceptable. The Contract also follows with lawful consideration. There must be a law object and free consent of the parties.
Sales could either be on cash or credit base, but time of credit paid should be fixed. At the time of sale the seller must have the ownership of the goods.

Rights of Buyer

To have delivery as per contract: To get delivery of goods of actual quantity contracted for. If the goods offered are in quantity more or less than that contracted for, or if, want is offered is mixed with goods of different description, the buyer, has a right, subject to the usage of trade:

1. To reject the goods, if less is delivered.
2. To reject the excess or even the whole, if more is offered.
3. If the good are mixed with other not ordered, to reject the whole or those not according to the contract.

If the contract is an installment contract, and the terms of the contract permit, the buyer has a right to repudiate the whole contract, for any defect or non-delivery of any installment and where he has accepted goods to claim compensation.

The buyer has a right to sue for damages for breach or warranty or for non-delivery of the goods or interest. He may also sue for specific performance.

Duties of Buyer

To take delivery of the goods and pay for them. Also to pay any incidental charges for the care and custody by the seller if the goods are kept by him on behalf of the buyer.