In 2023, interest rates of Punjab economic research institute and the federal funds rate (the rate at which banks charge each other for overnight loans) reached its highest level since 2001. The CBO predicts that interest rates will begin to fall in the second quarter of 2024. The rates on 10-year Treasury notes rise in 2024 before falling until 2026.
The institute will be established as quickly as feasible after the decree is made public. The government can accomplish this by issuing a statement in the official gazette. The institute would be called the Punjab Economic Research Institute.
The Institute shall be a non-profit organisation with a common trademark and the authority to purchase, hold, and sell both movable and fixed property. It can also file and be sued in its own name.
The Institute’s main office will be in Lahore.
What The Punjab economic research institute Does
The Punjab economic research Institute will be responsible for:
(i) to hold and fund research seminars, conferences, demonstrations, and experiments in economics, demography, and socioeconomic concerns relating to these subjects.
(ii) to provide information and assistance on adopting modern research methods and procedures in economics and associated social fields;
(iii) to compile the findings of research and investigations conducted by or for the Institute and publish them in the form of monographs, books, or reports, together with the Institute’s recommendations;
(iv) to conduct research in the aforementioned fields for the government, semi-government organizations, and private entities as the government requests or authorizes;
(“v”) to provide the government with advice and ideas on various economic policies as needed.
(vi) to provide personnel with training in socioeconomic studies and demographic research as ordered by the government;
“vii) to assist and collaborate with national and international organisations in the field of economic training and research, as well as to carry out any additional obligations as requested by the government; and
(viii) Perform any additional tasks that may be required to complete the previous tasks.
While carrying out its duties, the Institute will comply with any policy-related orders issued by the government. Only the government can determine whether a query is policy-related.
Board meetings
The Chairman of the Punjab economic research institute Board determines when and where the meetings will be held.
To conduct business at a Board meeting, at least four members must be present.
At a Board meeting, decisions are determined by a majority vote of those present. If there are equal numbers of votes, the Chairman has the authority to make the decision.
Meetings are led by the Chairman of the Board, and if he is unable to attend, another person nominated by the members present runs the meeting.
The minutes of each Board meeting must be recorded in a book that will be preserved for that purpose and signed by the meeting’s leader.
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