Pakistan American Business Association

9302 Old Keene Mill Road, Burke, VA 22150

April 2017

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Buying Home and Credit Problems

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Creativity

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PABA Chairman

Meets US lawmakers

Contents …..

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Pakistan Briefs

Issue No. 28

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Pakistani American Girl Wins Board Election

www.pabausa.org

A lot of Americans buying their health insurance through federal Marketplace have been

faced with rising cost of their health coverage over the past years. At the same time

health benefits were getting reshaped. Insurance companies kept factoring in higher de-

ductibles, increased copays and hefty coinsurance. Certain health services got excluded

from the plans. Providers’ networks also took a hit.

There are numerous reasons behind it. Many of them are of political nature, but some

are simply insurance risk related. Putting together an individual or an Employer-

sponsored plan involves different risk evaluation and thus affects the plan design and the

cost.

When insurance companies sell individual plans, they potentially face high losses if an

individual they sold the plan to experiences catastrophic health situations (expensive

surgeries, comprehensive diagnostic procedures, lengthy recovery etc..).

The cost of treatment of such individual in this case will exceed the premium collected

manifold. The risk increases with plan holder’s age and is affected by any pre-existing

conditions.

M. Siddique Sheikh,

Chairman & Founder PABA

Health Insurance – Individual Plan

or Group Benefits?

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By Beaini Financial Solutions

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Buying a home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating. The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future.

Credit Blemishes When life unexpectedly takes a turn for the worst, it's not always possible to come out without a few bumps and bruises. Every day, people are faced with late or missed credit card payments, mortgage foreclosures, bankruptcy proceedings, auto repossessions and even civil judgments that will affect their credit reports for years to come. Whether it's from a job loss, injury or just a simple case of temporary hardship, credit blemishes are often a part of life. The good news is that they no longer have to prevent you from becoming a homeowner.

Give Yourself A Little Credit After experiencing a credit problem, most lenders will want to see an attempt to rebuild your credit through a steady payment history with a new account. This can be accomplished by applying for a credit card and maintaining a responsible use of the account. If you aren't approved for an unsecured card, you can always apply for a secured credit card. Either will rebuild your credit over time and will help to show lenders that credit problems are just the things of the past.

Clean Up Your Credit Report Before applying for a home loan, make sure that you check your credit report from each of the three major credit reporting agencies. Every 12 months, consumers can request a free copy of their credit report from Experian, Equifax and TransUnion. If anything is incorrect or found to be inaccurate, filing a dispute with the credit reporting agency can help to get the information corrected before speaking with a lender. When you apply for a home loan, the lender will access your credit report for the purpose of determining your credit-worthiness. In an effort to ensure that you have the best possible chance at being approved for the loan at the best possible interest rates, making sure that your credit report is accurate is a must.

Save Up For A Down Payment Some homebuyers often qualify for a mortgage with down payments as low as five percent (three percent for FHA loans), but those with past credit problems may be required to shell out up to 35 percent or more for a down payment on their new home.

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Buying A Home With Past Credit Problems

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By Haseeb Javed

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Designing group plans (plans purchased and sponsored by the companies) is different. Because the plan is being offered to more than one person, the risk is being spread and insurance companies get in the position to offer richer plans with more affordable pricing. Depending on the size and the budget of employer introducing group health insurance, health plans can also become highly customizable and

offer ultimate benefits to the members.

Enrolling in employer-sponsored health plan compared to individual plan can be very beneficial. First of all employers usually offer a well-rounded package including medical, dental, vision as well as supplemental health plans like Acci-dent, Critical Illness, Hospital Indemnity and others. It is not uncommon for companies to offer employer-paid and voluntary life insurance and disability protection. For employees it is nothing, but convenient. Not only they get access to affordable group rates and better coverage, but can they also shop for all benefits in one place avoiding the hassle of research-ing the market and applying with each individual carrier.

A lot of companies offering health coverage to their employees also con-tribute towards the cost of health insurance and so make it easier and more affordable for the employees to purchase and carry the coverage.

The majority of employers offering group health benefits to their employ-ees would usually offer a good plan selection allowing employees to make best choice which suits their budget and health needs. Younger employees with no major health issues may not necessarily need a rich health plan with low to zero deductible and low copays, because such plans naturally come with higher cost.

On the opposite, employees with certain health issues or ongoing medical conditions which require regular attention from health care specialists and employees in need of medication may decide pay a bit more in health insurance premi-ums, but save considerably throughout the year on the cost of medical procedures and medications.

In tight workforce market conditions companies are often using employee benefits as a tool to attract and retain the best talent. The true concern for employees’ wellbeing and health make employers research and come up with ways to im-prove work environment and wellness.

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A buyer who pays a larger down payment obviously has more vested interest in the home and may, thereby, be less likely to default on a loan. If you have past credit problems, check with your lender about specific down payment requirements and start saving!

Creative Financing Options If you've exhausted all of your conventional efforts and are still turning up empty, don't give up just yet. Alternative financing is an option that many homebuyers use to purchase a home. Your Realtor can provide you with details re-garding any lease purchase and/or owner financing properties, which may require no credit check, no bank qualifying, a low down payment and competitive interest rate options.

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Haseeb Javed is a realtor with Crossroads Realtors -703.850.7621

Haseebrealty.com

This article is for general informational purposes only. While we attempt to provide current and clearly expressed in-

formation, this information is provided "as is". BFS makes no representations or warranties regarding its accuracy or

completeness. The information provided is not a legal or tax advice or recommendation of any kind. Please seek profes-

sional advice from your own attorneys and tax and benefit plan advisers with respect to your individual circumstances

and needs.

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A topic of discussion these days in education is creativity. Economies depend on it. And developing creativity techniques are important to learn. People often assume that artists are cre-ative – and they are – but so too are people in other profes-sions. In fact, creativity is part of the daily life of us all. Let’s explore this subject together. The primary creativity workshop is your own brain. It has long been recognized that the brain is a picture-making machine. Although we use language to communicate, words are a substi-tute for pictures. If you want to remember something, the best way to accomplish that is to either turn your idea into a picture or to associate it with a picture. So too, the first step in the cre-ative process is learning to see the solution to our problem or the future we want to experience clearly in our minds eye. Let’s pretend for a moment that you are sitting with your fami-ly in your favorite restaurant. If I were to tell you to close your eyes, stand up and walk outside to your car with your eyes closed, to pick up a book in the back seat of your car, and to return to your table – all with your eyes closed – you would have lots of difficulty. You’d bump into all kinds of thing along the way – maybe even risk getting hit by a car. Scary right? Now, if I told you to take the same journey to the car with your eyes open, you’d have no difficulty at all. Seeing is how we move from one point in the present, to another point in the future. We look in the real world to see where we are going. The same holds true for your life journey as a creative person. We need to look where we are going – in our imagination. If you do not clearly see your future – where you want to go – in your inner mind’s eye – you will get there – but who knows what you might bump into along the way. The difference between your trip to the car and your life destiny is mostly a matter of time. The car is just minutes away, but your life journey will be years in the making. You use your eyes to get to the car, you use your inner eye to get to the future. And, you need to practice “seeing” each day. Not just one time. My technique is this. I close my eyes, three times a day for about 15 minutes, and build mind pictures – a personal movie as it were. This is my creativity workshop. You should develop the practice of mind movie making too as a central tenant of creativity. Next, do not hesitate to share your “challenge” with others. Often solutions are shared, not just the product of one per-son. And, when you put your idea into the universe of others, you draw their vision and energy to your own. Third, get plenty of sleep. Many artists and scientists will tell you that they get solutions to their challenges while they sleep. Mine usually occur just when I’m waking up – and I suddenly understand the best way to proceed. Even a short catnap will do the trick. You must get in the habit of answering ALL questions yourself. If you are tempted to say, “I don’t know” – then ask yourself the trick question “well, if I did know, what would it be.” Yes, this is a little silly sounding – but the fact is, your idea will probably be just as good as some one else’s. Finally, study hard. You can’t learn how to play the piano just by looking at it. You really must practice every day, take lessons, learn new music, etc. And that is the same with other things, like math, or a new language. So that’s my creativity formula. Make your own daily mind movies; Trust your own ideas; Share them with others; and Practice!

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Creativity? Look Inside Yourself First

By William “Bill” Reeder

Raaheela Ahmed is the youngest Pakistan American to be elected to the

Prince George's County Board of Education, District 5, representing over

90,000 people in the Bowie, Upper Marlboro and Mitchellville areas.

A B.S. in Finance and B.A. in Economics from the University of

Maryland, College Park, she has also received numerous awards for her

leadership and public service. As a young, first generation, head-covering

Muslim woman of Indian and Pakistani descent, Raaheela has broken

stereotypes and expectations across the board of what it means to be a

service leader.

Raaheela secured 58 percent of the vote from her 33,000 supporters in the

November, 2016 election, and is a lifelong Prince Georgian and product

of Prince George's County Public Schools (PGCPS). She first ran for the

position in 2012 as an 18-year old....and nearly won.

Prior to the school board, Raaheela worked as a federal financial consult-

ant with the Department of Homeland Security. She served as the Student

Regent on the University System of Maryland Board of Regents, repre-

senting over 150,000 students at 12 universities in Maryland. In Prince George's County, Raaheela has served as a

advocate for foster care youth, founded a financial literacy organization serving county students, and conducted litera-

cy workshops in a dozen county elementary schools.

In the 2013 legislative session, Raaheela interned for a

Maryland State Senator in Annapolis, MD. This gave her

the opportunity to learn about the policy-making and get

involved in drafting legislative plans.

She was the 2014-2015 Student Regent on the Board of

Regents for the entire University System of Maryland

(USM). The USM consists of 12 institutions and 2

regional centers. Raaheela was the voice for over

120,000 college students on this policy-making, budget

analyzing Board.

She is also actively involved in community activities.

She has conducted literacy workshops and worked with students to improve their skills. Raaheela also held various

positions in Health Leads, an organization that helps families find resources that they need like food, clothing, employ-

ment, etc.

She is also part of the The Peer Leadership Council, a student group that focuses on engaging students to become pos-

itive social change agents in their communities. The Court Appointed Special Advocate program in Prince George’s

County allows citizens to work with neglected and abused children in the foster care system. Raaheela has been trained

and appointed by the court system of Prince George’s County as a CASA. She currently works with a youth from Up-

per Marlboro, MD.

Youngest Pakistani American on the Board of

Education in Prince George’s County

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PARTNERS

Universal Air &

Vacuum Services

Mr. M. Siddique Sheikh, Chairman of the Pakistan American Business Association dis-

cussed issues relating to immigration at an informal meeting with Congressman Rob Witt-

man. Virginia’s House delegates Tim Hugo and Jackson Miller were also present on the

occasion. Mr. Sheikh informed the lawmakers that currently there was a harsh penalty for

those who overstay their visas during their stay in the United States as they cannot return

to the country for 20 years. He was of the opinion that it should at least cut to half and en-

able those who have their family members and friends living in the United States.

Mr. Sheikh also shared with them efforts PABA is making to connect Pakistani and Amer-

ican companies. He said both the governments in the United States and Pakistan have

economy and promotion of business on top of their agenda and the private sector of the

two countries should work to enhance business linkages to the their mutual benefit.

Senator Tim Kaine visited the office of

Pakistan American Business Association and

exchanged views with Chairman M. Siddique

Sheikh on matters of mutual interests. He

discussed issues relating to the Pakistani

American Community in Virginia.

Mr. Sheikh has served the Senator during his

tenure as a governor of Virginia on the Trans-

portation Accountability Commission. He has

also worked with him to address community

issues such as immigration, business develop-

ment etc. Mr.Sheikh thanked the Senator for

his services to the State of Virginia and for

the greater American nation.

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PABA Chairman Discusses Issue of

Immigration with Congressman Wittman

PABA Chairman meets Senator Tim Kaine

* USIP Chairman Meets Finance Minister Mr. Stephen J. Hadley, Chairman of United States Institute of Peace, a prominent US think tank, met Finance Minister Ishaq Dar in Islamabad and exchanged views on matters for mutual interest. Chairman USIP acknowledged Pakistan’s significant economic achievements and added that these successes needed to be fully projected to the intentional audiences. Appreciating Mr. Dar’s interaction with media and think tanks during his visit to the United States, Mr. Hadley said such interaction greatly help build a positive perception about Pakistan.

* Malaysian businessmen discuss opportunities in Pakistan A Malaysian delegation headed by Former Prime Minister of Malaysia Mr. Abdullah Ahmad Badawi met Pakistani officials in Islamabad and showed interest in making investment in the shipping sector of Pakistan. Mr. Seri Jamil Bid-in, Chief Executive Officer, Halal Industry Development Corporation, Malaysia and leading businessmen are part of the delegation. The Malaysian delegation took keen interest in the projects such as Ferry Service operation, construc-tion of dedicated terminals at Pakistani ports and establishment of industry in Gwadar Port Free Zone. It was agreed that a Joint Working Group on Maritime Cooperation of Pakistan and Malaysia may be established for improving mari-time cooperation.

* German Minister for Cooperation Meets Finance Minister 7 German Federal Minister for Economic Cooperation and Development, Dr. Gerd Muller discussed business opportuni-ties between Pakistan and Germany during his visit to Islamabad. Finance Minister Dar appreciated the cooperation and support of the German government for various development projects in Pakistan, including the recent equity partic-ipation by German development bank, KfW, in the Pakistan Microfinance Investment Company (PMIC). Dr. Muller He offered Germany’s technical and research assistance for development projects in Pakistan, including technical sup-port in the agriculture sector to achieve higher yields.

* Russia Shows Interest in Pakistan’s Transitional Gas Pipelines Russia has shown interest in laying transitional gas pipelines in Pakistan which needs infrastructure to meet its growing energy needs. A high level delegation from the Russian Federation led by Mr. Yuri. P. Sentyurin, State Secretary &Minister of Energy of the Russian Federation and Mr.A.Vtaly Markelov, Deputy Chairman of Gazprom visited Paki-stan recently. The Gazprom chief discussed possibilities of cooperation between his company and the stat-owned gas companies on energy projects.

* Business Roundtable on CPEC held in London The Department of International Trade at Foreign and Commonwealth Office (FCO) organized a business roundtable to discuss the multi-billion dollar China Pakistan Economic Corridor project held on April 4. The U.K. has expressed its desire to become a key partner in CPEC which involves a total investment of $54 billion mostly on infrastructure projects. British Minister of State for International Trade is due to visit Pakistan in the near future to explore business opportunities and initiate trade dialogue. The CPEC is one of the more advanced corridors in China’s One Belt One Road” initiative, seeking to replicate the ancient Silk Road trade routes and into Europe.

* French Companies Keen to Invest in Pakistan A high level business delegation headed by Mr. Thierry Pflimlin, Chairman, France–Pakistan Business Council of MEDEF International is visiting Pakistan. Prominent French companies such as Engie, Thales, Total Marketing & Ser-vice, Clauger, Eclor SA, Olmix, Credit Agricole Corporate & Investment Bank and some others are part of the delega-tion. French companies intend to explore business opportunities in Pakistan in the sectors such as energy & environ-ment, agri-food, banking, architecture and aerospace etc. Board of Investment also organized “Pakistan – France In-vestment Forum” at a local hotel.

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Pakistan Briefs

The Pakistan American Business Association was established in 1986 to bring together business people of diverse occupations, providing opportunities for them to flourish and help others grow.

Through our board, active members and leadership in the United States of American and in Pakistan, PABA has been able to achieve many successes at local, national and international level. PABA nurtures business opportuni-ties between Pakistan and the United States and enables its members to develop new businesses and promotes dialogue between Pakistani and American government officials. we have don

Local, state, national and international conventions

Job fairs for aspiring business people

Relief efforts for Katrina Hurricane and 2010 Pakistan Flood victims

International Trade Conference in Pakistan in 2004

Raised Funds for Shaukat Khanum Hospital in 1995

And much more,,,,,,,,,

PABA To Host International Trade Show in Washington D.C. Soon

Pakistan American Business Association 9302 Old Keene Mill Road Suite B Burke, VA 22015 - 4278 www.pabausa.org

What we have done

Editorial Team :

M. Siddique Sheikh

Shakeel Tufail

Augustine Anthony

Khalid Noufal

PABA AT A GLANCE