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INTRODUCTIONMuhammad Sohaib Javed 12021

Mohammad Kumail 6268

Beenish Fatima 6262Danyal Javed 7222

Ali Tahir 12072

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G

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By Muhammad Sohaib Javed(12021)

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India praises Pakistans efforts to

normalize trade ties2nd March, 2012He move will certainly help

strengthen our bilateral ties: S.M.Krishna.

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Rationales for GovernmentIntervention in Trade

ECONOMIC RATIONALES NONECONOMIC RATIONALES

Prevent unemployment Maintain essential

industriesProtect infant industries Deal with unfriendly

countries

Promote industrialization Maintain or extendspheres of influence

Improve position com-pared to other countries

Preserve nationalidentity

7-5

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Islamabad has decided in principle to phase out the negative list between thetwo countries by December 31, 2012, which will complete the tradenormalisation process.

Indias Associated Chambers of Commerce and Industry, a trade bodyestimated that the move will increase cross-border trade to over $6 billion by2014.Direct trade between India and Pakistan currently constitutes less than oneper cent of their respective global trade.India exported goods worth $2.33 billion to Pakistan last year while its

imports were $330 million.

http://www.dawn.com/2012/03/01/india-praises-pakistans-efforts-to-normalise-trade-ties.htmlhttp://www.nytimes.com/2011/11/03/world/asia/pakistan-more-indian-imports-to-be-allowed.html?ref=relationswithpakistanhttp://www.dawn.com/2012/03/02/countrys-interests-to-be-safeguarded-pm-govt-to-go-ahead-with-iran-pipeline-khar.html

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NEW DELHI: India on Thursday welcomedPakistans decision to phase out majorrestrictions on Indian imports by the end of thisyear, a move to normalise trade ties between thetwo neighbours.

Currently, Pakistan admits fewer than 2,000 types ofIndian products. Both countries have said they want tomore than double trade between them, to $6 billion a

year

Consumers in Pakistan are likely to benefit more fromthe change, gaining access to more and cheaperIndian goods. Pakistani businesses will likely face

stiffer competition, especially in auto parts,pharmaceuticals and consumer goods

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Govt to go ahead with Iran pipeline: KharFront Page | From the Newspaper2nd March, 2012http://www.dawn.com/2012/03/02/countrys-interests-to-be-safeguarded-pm-govt-to-go-ahead-with-iran-pipeline-khar.htm

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Pakistan rejects US pressureon gas project

ISLAMABAD: Pakistan has refusedto budge on its decision, despitethe United States pressure on the

gas pipeline deal with Iran and hassaid that it will go ahead with theproject.

Foreign Minister Hina Rabbani Kharsaid the project was in the interest ofPakistan.

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We are a sovereign country and we will do whatever is in the interest ofPakistan, Prime MinisterYousuf Raza Gilani said during a TV show PrimeMinister Online.

The comments from the prime minister and the foreign minister came a day

after US Secretary of State Hillary Clinton warned at a Congressionaltestimony that Pakistan could face sanctions if it did not give up the Iran gaspipeline project.

Pakistan, which is facing intense energy crisis, believes that the multi-billiondollar gas pipeline which is scheduled to become operational in 2014 is its bestbet to partially ease the situation.

I think all our friends are encouraged to understand the real energy crisis thatis in Pakistan. We cant afford to be selective of where we receive our energysupply from, Ms Khar remarked.

Iranian President Mahmoud Ahmadinejad got a similar commitment when hevisited Islamabad for a trilateral summit last month. During his bilateralmeetings with Pakistani leaders, Mr Ahmadinejad was told that Pakistanremained committed to expeditious implementation of the pipeline project,1,000 MW electricity transmission line and 100MW Gwadar power supply.

In a further sign of growing energy ties, media reports say Iran is ready to

provide about 80,000 of barrels of crude per day to Pakistan on a 3-monthdeferred payment.

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CNGhttp://www.thenews.com.pk/Todays-News-13-11021-Govt-bans-import-of-CNG-cylinders-conversion-kitsKhalid Mustafa

Friday, December 16, 2011

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ISLAMABAD: The Economic Coordination Committee (ECC)of the cabinet has approved a ban on the import of CNGcylinders and conversion kits in the wake of the current gasshortage in the country.

The ECC which met here on Thursday with Minister for Finance andEconomic Affairs Dr Abdul Hafeez Shaikh in the chair also bannedinstallation of new CNG kits in vehicles.

The existing stock and its owners shall be allowed to use their kits andcylinders, and no new licence shall be issued in this regard, the ECCdecided. In the same way, CNG-fitted public transport vehicles i.e.buses/vans are exempted from this moratorium.

The ECC reviewed its previous proposal of monthly natural gas load

management programme (winter 2011) on the SNGPL system, anddecided to withdraw the previous approval of supply of 76 MMCFD gas toIPPs because of severe shortage of gas in the coming months and toenhance the gas supply to fertiliser plants.

The ECC also approved the summary energy efficiency audit offertiliser

plants and ban of POL products export to Afghanistan and Central AsianRepublics (CARs), proposed by the Ministry of Petroleum and Natural

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CNG

Protectionismrefers to thosegovernment restrictions and incentivesspecifically designed to help acountys domestic firms compete with

foreign competitors at home andabroad.

Governments intervene in the trade process

to attain economic, social, and/or politicalobjectives.

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Rationales for GovernmentIntervention in Trade

ECONOMIC RATIONALES NONECONOMIC RATIONALES

Prevent unemployment Maintain essential

industriesProtect infant industries Deal with unfriendly

countries

Promote industrialization Maintain or extendspheres of influence

Improve position com-pared to other countries

Preserve nationalidentity

7-15

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KARACHI: Lotte a South Korean firm is planning to expand

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KARACHI: Lotte, a South Korean firm, is planning to expandits operations and invest half a billion dollars in variousprojects to be executed in Pakistan, said AmbassadorChoong Joo Choi on Monday.

The envoy said his country had funded several projects in Pakistan such as the newly-inaugurated institute of garment technology and water supply and sewerage drainageprojects, adding that Koran cooperation had also been extended to the national capacity-building institute for water quality management, training of Pakistani government officialsand vocational training of youths of Malakand.

He said that Ssangyoung, another Korean company, had just completed repair work of KPTberths while Posco had also made initial investment in the country.

South Korea, a member of the Friends of Democratic Pakistan, offered $180 million softloan to Pakistan. It is an offer in the form of an extremely soft loan, said AmbassadorChoong Joo Choi.

WIND ENERGY: In a related development, Hienergy Korea Canmore Co. Ltd. announcedthat it would invest $100 million in the wind energy projects in Sindh, besides 50MWprojects in SITE and Nooriabad.

http://www.dawn.com/2011/10/18/s-korean-firm-plans-to-invest-500m-in-pakistan.html

S. Korean firm plans to invest $500m in Pakistan

From the Newspaper| National | By Shamim-ur-Rahman18th October 2011

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Rationales for GovernmentIntervention in Trade

ECONOMIC RATIONALES NONECONOMIC RATIONALES

Prevent unemployment Maintain essential

industriesProtect infant industries Deal with unfriendly

countries

Promote industrialization Maintain or extendspheres of influence

Improve position com-pared to other countries

Preserve nationalidentity

7-19

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Articles on EconomicsBy Muhammad Kumail

H t t d t t id

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the concept of 'excess burden': thecost to economic growth of thedistorting effects of taxation.

things that creates excess burden istax avoidance.

avoiding tax takes time and effort

it diverts resources from genuinelyproductive activities.

How to put an end to tax avoidanceBy MoneyWeek editor-in-chief Merryn Somerset Webb,Mar 26, 2012

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Take the 50% tax rate. It is said not tohave raised the amount of money hopedfor, thanks to massive avoidance.

the time that people taxed via pay-as-you-earn (PAYE) have spent wranglingwith employers to have bonuses or payrises brought forward.

Theres the huge number of newcompanies set up so that those withfreelance or short-term contract earningscan 'smooth' their income to avoid the

higher rate.

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Australias reversal of fortuneMar 26, 2012

The Australian dollar is flying high. Ithas gained more than 10% since lastautumn and now buys 1.05 American

dollars. But the signs of a reversal aremounting.

key influence on sentiment towards

the Australian dollar is China, whichnow takes almost 40% of Australias

mineral exports and 23% of Australias

overall exports.

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Investors have every justification tobe concerned about the decideddownshift in Chinas growth

performance, says Fxpro.com. Among the most eye-catching

statistics is that crude steel production

is now barely positive, down from agrowth rate of 40% in late 2009. Its

not just China; global trade hasslowed too

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Australias housing bubble, which sawprices rise six-fold in 25 years, nowfinally appears to be bursting.

the property and credit collapse seenin the rest of the developed world in2008-2009.

Australias dollar is also a keybarometer of global risk appetite

I k I i i ?

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Is an attack on Iran imminent?By Matthew Partridge Mar 27, 2012

The Iran situation is getting critical. Itis clear that Tehran is determined toget a nuclear bomb no matter what

the domestic costs. Barack Obama has promised that I

do not have a policy of containment; I

have a policy to prevent Iran fromobtaining a nuclear weapon.

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Saudi Arabia has indicated that it willincrease oil production significantly.

wants to prevent crude from becomingtoo expensive, and thus destroying

demand in the long term. Sanctions arent going to stop the Iranian

bomb It cannot be emphasised enough that

although sanctions have caused majordisruption to Irans economy, they arentworking.

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A strike is probable, but not inevitable Israel is still more likely than not to act. It is

simply too dangerous to rely on sanctions,while nuclear missiles in the hands of Irans

leadership would be a disaster for both it andthe wider region.

Oil is not the best hedge against a war in theMiddle East

higher oil prices could hit the global economy -derailing any recovery. This could have a verynegative effect on your portfolio. However, the

danger of an Israeli strike is already partlyriced in.

Is Japans bear market at an

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Is Japan s bear market at anend?By Cris Sholto Heaton Mar 02, 2012

investors will tell you that great bearmarkets end in maximum fear. Thereis a final cathartic flurry of activity asthe remaining optimists dump theirholdings and at that point the marketis primed to rebound

The end comes when investors have

no desire to buy equities, the markethas simply stagnated and nobody hasany faith that it will recover.

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A rally thats come out ofnowhere Japanese stocks have been very solid

performers in 2012 so far, with the Topix up

almost 13%. Japanese equities have essentially staged

absolutely no recovery from the lows of2008-2009.

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The Topix and the yen have had aninverse relationship since 2005stocks have generally performed

better when the yen weakens andfallen as it continued to strengthen.

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to review the performance of theJapanese market since 1990 mostinvestors know it as an endless series

of false hopes and doomed rallies.

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Four reasons for hope

First, theres the psychology. Wevenow seen three years of stagnation inJapanese equities. Theres not much

in the way of the sharp rallies and sell-offs we saw there in the past twodecades or have seen elsewhere

lately. That certainly points to a lack ofinterest.

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Four reasons for hope

Second, theres the macroeconomics.Japans balance of payments hasdeteriorated very sharply of late. Froma surplus of 12trn in 2005, it flippedto deficit of 3.5trn last year. Therewere exceptional factors in here, suchas the earthquake but even allowing

for this, Japans trade performance willnot be so supportive of a strong yen inthe years ahead.

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Four reasons for hope

Third, theres monetary policy. TheBank of Japan recently made somevery tentative moves towards doing

what it should be doing: forcing aweaker yen and pushing for somevery mild inflation rather than

tolerating deflation. It hasnt gone farenough, but it may have taken the firststeps.

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Four reasons for hope

Fourth, theres politics. Since itshistoric electoral victory in 2009, theDemocratic Party of Japan has provedlittle better than the exhausted LiberalDemocratic Party it replaced and thecountrys rapid turnover of ineffectualprime ministers has continued. But

voters are increasingly unhappy withthis and this may well produce anew, more dynamic opposition to boththe DPJ and the LDP.

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Inflation is needed for a sustainablerally

there are signs of changes in Japan

that could be positive for the market,and yet are being ignored.

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Ali Tahair

Big U S Firms Shift Hiring

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Big U.S. Firms Shift HiringAbroadBY DAVID WESSEL

April 19, 2011

Big U.S. Firms Shift Hiring Abroad - WSJ.com

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Analyst P.O.V

Matthew Slaughter, who served as an adviser to formerpresident George W. Bush. Mr. Slaughter, now at DartmouthCollege's Tuck School of Business

He consults for several big companies and trade

associations, drew attention with his observation that

"for every one job that U.S. multinationals createdabroad...they created nearly two U.S. jobs in their [U.S.-

based] parents. That was true in the

1990s, It is no longer.

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Organizational view ofglobalization Jeffrey Immelt, GE's chief executive, said in a speech in

Washington

These cuts don't reflect a relentless search for the lowestwages, or at least they don't any longer. We've globalized

around markets, not cheap labor. The era of globalizationaround cheap labor is over, today we go to brazil, we go

to china, we go to india, because that's where thecustomers are.

In 2000, 30% of GE's business was overseas today, 60% is. In2000, 36% of GE employees were overseas where as today,54% are.

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Organizational view ofglobalization Continued. Caterpillar increasingly relies on foreign markets for its sales. Except for global layoffs in 2009, due to resin but is hiring

much faster abroad.

Between 2005 and 2010, its work force grew by 3,400workers, or 7.8%, in the U.S. and 15,900, or nearly 39%,

overseas.Jim Dugan, spokesman of Caterpillar construction-equipment,

"As a greater percentage of our sales have been outside

the U.S., we have seen our work force outside the U.S.grow,

Caterpillar still does most of its research and development

in Peoria, Ill., where it is based.

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Organizational view ofglobalization Continued. Oracle, which makes business hardware and software, added

twice as many workers overseas over the past five years asin the U.S.

At the beginning of the 2000s, it had more workers at homethan abroad; at the end of 2010, 63% of its employees were

overseas. The company says it still does 80% of its R&D inthe U.S.

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Conclusion

Organization are focusing their R&D where they arebased

Cost efficient was the old phenomena where as

globalization is the bigger picture

Organizations have become more global and efficient andclose to their customers like china, India etc.

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By Danyial

Political And Legal System

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Foreign Minister Hina Rabbani Kharconfirmed the countrys commitmentto the Iran-Pakistan gas pipeline onWednesday; laying to rest any doubts

that a Chinese banks decision toback off from funding the projectwould affect plans to import gas fromIran.

There are multiple sources availableand this is a very viable project, Khartold reporters at a joint news conferencewith her Swedish counterpart Carl Bildtin Islamabad

Pak-Iran gas pipeline: Multiple sourcesavailable for funding, says Khar

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Parliamentary review of US ties The foreign minister insisted that the

governments decision to rewrite terms ofengagement with the US, Nato and Isafwill expand cooperation with internationalplayers instead of contracting it.

We hope that the world will respect the

new terms of engagement, she said,adding that Pakistan wanted to assistwestern forces stationed in Afghanistanwith a smooth exit from the *country.

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Pakistan seeks justice for Kandaharkillings

The foreign minister strongly

condemned the killing of 16 Afghancivilians including children by a USsoldier in Afghanistan. We condemn

this act in the strongest possible termsand we want that the personresponsible be brought to justice,

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Pakistan-Sweden bilateral ties Khar said Pakistan and Sweden have

decided to double the existing volume

of bilateral trade from $450 million to$900 million by 2014. The Swedishforeign minister said his country

endorsed Pakistans position thattrade, not aid was the solution to thecountrys problems

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Published: March 15, 2012

Published in The Express Tribune,

March 15th, 2012.

Reference

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Articles on CultureBy Benish

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EID UL FITRAuthor: Muhammad Muzaffar

A religious festivity of Eid-ul-Fitr iscelebrated by the entire MuslimUmmah at the end of the fasting

month of Ramadan on the 1st

ofShawwal the 10th month of Lunaryear.

The word Eid is derived from owdthat means to come again and again,as every year Eid is celebrated on thesame date of the same month.

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Muslims have three Eids in a yearwhich are Eid-ul-Fitr, Eid-ul-Azha andEid Milad-un-Nabbi.

The spirit of the former two Eidsdepicts the obedience of AllahAlmighty but the later one, third Eid iscelebrated in the commemoration of

the birth and death anniversary of thelast Prophet of Allah Almighty, HazratMuhammad(Salal Laho AlyeheWasalm).

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the manners and Sunnah regarding the Eid-ul-Fitr: To get the hair cut. To cut the nails. To use Miswak. To wear new or at least clean clothes.

To apply pure itar. To offer Fajr prayers in the nearest mosque. To eat dates odd in numbers before going to Eidgah. To recite, while going to Eidgah: (Allaho-Akber, Allaho-

Akber. La ila-ha ill-lal-lah Allaho-Akber, Allaho-Akber

Wa-lalahill hamd). To use two different paths while going to and coming

from Eidgah. To distribute Fitrana to some deserving person/persons

preferably

To offer Sadqa as much as possible.

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Today, unfortunately, Muslims have imparteda wrong colour to the Eid festival. The eliteclass of the country has got an opportunity toshow their wealth on the religious occasion of

Eid which is primarily for the poor. Being Muslims, we have forgotton the golden

practices of Hazrat Muhammad (Salal LahoAlyehe Wasalm) who met a weeping child offive to six years on the way when He wasgoing to offer Eid prayers.

This is the real spirit of Eid celebrations whichthe majority of us has forgotton today.

Pakistani womens like Embroidery

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Pakistani women s like Embroidery

purses.

By Rehana khan(111/10)

Purses are small bags or pouches whichare used by women for carrying their

money; make up accessories, jewelry,keys and a lot of other necessary items.

Purse is not only the need of every woman

but its turns into the need of every girl, boyand men too.

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Mostly the ladies use a purse when theyare going out from their houses whetherthey are working womens or carrieroriented ladies or they are house wives.

the uses of purse are now not merely forthe requirement but it becomes a symbolof fashion and play a imperative role infashion world.

The gorgeous look is totally incompletewithout a graceful and stylish purse.Thus this is proved that the lady ofmodern era is imperfect without a purse.

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the purses are now an essential element offashion the Pakistani ladies are also very passionate

about the uses and selection of purses Pakistan is a cultural country and it has its own

rich cultural aspects and customs embroidery of each and every area of Pakistan

has their own beauty and identity. The women mostly like the embroidery clothes

and purses Baluchi and Sindhi embroidery is very precious

and well-liked by the Pakistani womens andembroidery purses are as well very agreed ofPakistani ladies. These purses made by localladies in their houses and then they sell these

handy crafts in local markets.

Culture And Education

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Culture And Education

Education enhances the ability ofintellectual growth. It provides theenlightenment of personal uplift andthe ways to understand life on higherperspective

the people in developing countries arestruggling to achieve the levels of

basic needs such as food, housingand cloths yet they do not afford toeducate themselves and their childrenas a reality

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Ignorance is a curse and we find amajority of people in developingcountries fighting against this dilemma

The culture of reading and writing is

beyond their reach. They value the materialism or something

that can uplift their prestige like bikes,cell phones and similar things.

They dont try to form educational cultureand spend their time in watchingtelevision and playing snookers

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families who have realized theimportance of education and they arestruggling against the consequences

of high expenditures falling upon themto educate their children all the way

this deal is a good deal to develop the

future of any individual and provideshim a way to settle respectably in thisworld

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habit of reading can be adopted as dailyroutine work enabling the children tolearn better living methodology andeducational dignity

importance of any human being is due tothe knowledge he has acquired and theskills he has achieved in his life

personality growth is possible only due tobetter learning and acquiring of fruitfulskills along with positivistic attitude