Business English Lesson – Advanced Level''''s archiveCash Management in Pakistan pdf

Business English Lesson – Advanced Level's archive Cash Management in Pakistan 1.. The implementation of a real-time gross settlement system will automate the current interbank settleme

Business English Lesson – Advanced Level's archive

Cash Management in Pakistan

1 The implementation of a real-time gross settlement

system will automate the current interbank settlement of

large-value payments at the State Bank of Pakistan and

will minimise credit and liquidity risks; dial-up proprietary

systems are in , taken over by more robust,

functionally enriched Web-based platforms

demise

despair

disarray

dishabille

2 According to Shahid A Syed, Pakistan's economy

delivered another year of robust growth in 2005-06,

despite the earthquake on 8 October 2005 and in

the midst of an extraordinary surge in oil prices

dangerous

dastardly

debilitating

devastating

3 With growth at 6.6% in 2005-06, the economy has

expanded at an average rate of 7% a year in the past four

years and over 7.5% a year for the last three, thus

itself as one of the fastest growing economies in Asia

positing

positioning

proclaiming

promoting

4 The vote of confidence of the international debt capital

markets in Pakistan's economic policy, reform agenda and

outlook is evident from the successful launch of new

10-year and 30-10-year bonds totalling US $800m

domestic

municipal

oppidan

sovereign

5 The SBP has been pursuing a broadening of access of

financial services to all segments of society as an

important strategic objective: initiatives have been taken to

develop a legal framework for institutions to help the

poor, and a focus on SMEs and Islamic finance issues

altruistic

microfinance

philanthropic

welfare

6 Despite considerable progress towards its goal of

fostering a sound and dynamic financial system, a number

of areas still demand further attention; SBP has kept its

focus on consolidating reforms introduced in preceding

years and lifting the regulatory and supervisory framework

to meet international best

agendas

alliances

practices

programs

7 The extensive focus on enhancing the supervisory

capacity in recent years has helped SBP to achieve, either

fully or largely, status for 28 of the 30 Basel core

principles for effective banking supervision

complaint

complementary

compliant

complimentary

8 Federal taxes in Pakistan, like most taxation systems in

the world, fall into two broad categories, direct and

indirect; direct taxes primarily income tax, along with

a supplementary wealth tax

compose

comprise

consist

contain

9 All public companies, other than banking companies,

incorporated in Pakistan, are for tax at a corporate

rate of 39%; however, the effective rate is likely to differ on

account of allowances and exemptions related to such

factors as the industry, location and exports

arraigned

assessed

attached

audited

10 The real-time gross settlement system known as the

Pakistan Real-time Interbank Settlement Mechanism is at

an advanced stage of installation, and its implementation

will make the payments systems much more efficient and

, offering transactional features that are hard to

achieve under the current settlement systems

reactant

refulgent

reluctant

resilient