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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Imran Khan’s Fall from Grace

Aug 27, 2024
4 min read

Updated: Oct 21, 2024

Imran Khan’s Fall from Grace

Imran Khan, once hailed as Pakistan’s most charismatic and resilient leader now finds himself in a position unprecedented for a man of his stature.

The former Prime Minister of Pakistan, once known for his unyielding spirit and fierce determination, now shows signs of strain. Imprisoned and facing numerous charges, Khan appears to be a shadow of the leader who once inspired millions.

Khan’s recent meeting with journalists revealed a man who is a shell of his former self. Once confident and commanding, his body now shows a sense of unease and agitation. Those who met him describe a waning spirit, a stark change for a leader once known for his steadfastness in adversity.

The journalists described Khan as a man who is aware that his political party, Pakistan Tehreek-e-Insaf (PTI), is losing its once-iron grip on the nation’s imagination―a realisation that visibly shook him.

The PTI, once a magnet for massive crowds and inspired loyalty among its supporters, is now struggling. The much-hyped rally scheduled for August 22 in Islamabad, was embarrassingly cancelled due to a lack of public interest. Khan, in a bid to save face, claimed that the rally was called off to avoid potential violence. In a sign of growing desperation, Khan rescheduled the rally for September 8 and directed his party leaders to overcome any obstacles. This defiant stance is typical of Khan’s confrontational style, and his public directives highlight his insecurity about his party’s ability to mobilise support.

While Khan outwardly appears calm and composed, the multiple cases against him and his time in jail have left him isolated and struggling with loneliness. Even in this difficult situation, he remains in the headlines, thanks to his uncanny ability to stay in the public’s eye. Khan recently made headlines by applying for the University of Oxford Chancellorship, a move initially dismissed as a rumor but confirmed by his spokesman, Sayed Zulfikar Bukhari. As an Oxford alumnus, Khan would be the first Asian to take the role. Many see this bid as a strategic play to leverage his international profile against Pakistan’s establishment, a move that has kept him prominently in the media spotlight.

The political landscape in Pakistan is deeply divided. Prime Minister Shahbaz Sharif, in his second term, has failed to address critical issues including unemployment, soaring inflation, and deteriorating law and order. His administration’s inability to deliver on its promises has only deepened the public’s disillusionment, leading to growing nostalgia for Khan’s past leadership.

Shahbaz Sharif’s government is a source of frustration for the Pakistani people and a cause for concern for the country’s military. Historically, the military has shaped Pakistan’s political trajectory, stepping in when civilian governments falter. The military reportedly is growing uneasy about the government’s performance especially Sharif’s inability to stabilize the country and mend relationships with key neighbors, particularly India. Additionally, its deteriorating ties with Afghanistan and Iran have left Pakistan increasingly isolated. Even China, Pakistan’s longstanding ally, has expressed dissatisfaction with the government’s policies, a worrying sign given the importance of the China-Pakistan Economic Corridor (CPEC) to the country’s economic future.

It is within this context of political turmoil and international isolation that Imran Khan remains a potent force. Despite his legal troubles and the challenges facing his party, Khan’s popularity endures. For millions of Pakistanis, his tenure as Prime Minister is seen as a time of relative stability and hope, a stark contrast to the current administration’s ineptitude. This perception has kept Khan’s political base intact, even as his party faces an uphill battle in the coming months.

However, Khan’s ability to navigate the current political landscape is far from guaranteed. The PTI’s diminishing support, coupled with the increasing pressure from the establishment, raises questions about Khan’s long-term strategy. His recent moves, including the application for the Oxford Chancellorship, suggest a leader willing to explore unconventional avenues to maintain his relevance. But whether these tactics will translate into a successful political comeback remains to be seen.

Pakistan’s political future is more uncertain than ever. Imran Khan’s journey from cricketing legend to political maverick has been extraordinary. Still, as he faces the toughest challenge of his career, the question remains: Can he once again defy the odds and reclaim his place at the helm of Pakistani politics, or is this the beginning of the end for a once unstoppable leader?

Khan’s story is a testament to the complexities of power and the unpredictable nature of political life in Pakistan. His rise, driven by charisma, populism, and a genuine desire for change, now faces the realities of personal and political challenges, raising the possibility that his time may be running out.

Imran Khan is a beacon of hope for his supporters, and a polarizing figure for detractors, whose ambitions have often clouded his judgment. As the nation watches, the world is left to wonder: What will Imran Khan’s next move be? And more importantly, what does it mean for the future of Pakistan? The coming months will be critical not only for Imran Khan but for Pakistan as a whole. The decisions made during this period will shape the country’s trajectory for years. Whether Khan emerges victorious or is consigned to the annals of history as a fallen leader, one thing is certain: The story of Imran Khan is far from over.

(The writer is a senior jounalist based in Islamabad. Views personal)

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