Page 4 - Newsletter-January 2018

Newsletter The Institute of Chartered Accountants of Pakistan My BIGGEST REGRET 2017 My Biggest Regret 2017 is that I the funny part as well. Paying huge fee to get realised being an entrepreneur the membership of a well-known gym in this year and not before. But, it’s Karachi during my college life, to become a never too late. role model in my family, I don’t know what Abdul Rahim Lalani was going on my mind that I went to the gym Affiliate No. A-0311 and paid instantly and was super excited. Karachi The amount was paid but the time will never come for the routine practice. First day, I We are all busy in life. There's exercise for an hour, the second day for two always something to distract us hours, the third day again for two hours, then from getting around to certain I skip a day and then skip weeks with lots of things we know we should do fatty meals, parties, events and then skip and with the invention of months and months. All the hard work plans smartphones and tablets, which failed till the subscription ended. Honestly, it are delivering a fire hose of urgent emails in was one of the funniest regrets when I look nanoseconds; Twitter, Facebook, Instagram back. keep people busy in socialising, things have Mohammad Kashif Munaf only gotten busier. At the back of our minds, Affiliate No. A-0489 we know, we're neglecting some stuff we Karachi should do. But we never get around to it. It’s important to remember that whatever stage The year 2017 has passed very we are at in life, there is no need for regret. quickly or it seems very quick. It The process of regret provides nothing but has seen the highest hit on suffering for ourselves as we begin to allow Pakistan Stock Exchange (PSX) the past to dictate how we should feel now. and the quickest fall too (not crash Instead, we can use the past as a reference though). It has seen the rising point to understand what adjustments we expectations from the economy of Pakistan would like to make to move forward. The including the inclusion of PSX stocks in Morgan adjustments do not have to come out of Stanley Capital Index (MSCI) emerging markets pain, sorrow, regret or judgement, but simply and then saw it's failing to be as expected due a choice to do things in a different way. We to political turmoil and lack of foreign interest in are learning all the time; we can very quickly the market. At the beginning of the year, we slow that learning process down by getting were seeing the Pakistan's economy in the light stuck in the idea of regret. When it comes to of China Pakistan Economic Corridor (CPEC). making changes, be at peace with the past Everything was very glorious. Expectations from and remember that each moment is a new cement sector, iron and steel sector, automobile choice. Today, I will share some of them with sector, etc. were so high. Dollar/Rupee position you. I wish I would have the courage to live a was stable. Mutual funds were reporting high true life to myself, not the life that others profit percentage. Property prices had expected of me; it is the biggest regret of my increased drastically all over Pakistan and life. I realise that life is almost over and golden especially in Karachi. The prices were increasing period ran away too fast and when I look on a daily basis. But that didn't last till the end of back I can see how many dreams have gone the year. PSX has lost almost 16000 points in a unfulfilled. One of them is health which brings span of just six or seven months. Dollar prices freedom, until I don’t have it. I deeply regret have increased. The Rupee, which has mostly that I am spending too much of my life on the traded in a tight range of 104-105 per Dollar treadmill of work machine. But let me share since December 2015, has shed over 5 percent 4 January 2018