Desert

Blog admin 16 May 2014
Today, a large number of population in Pakistan consumes digital content such as apps, online games, videos or music downloads software or e-books etc. Although exact number of users of digital content are harder to come by but there are almost 30 million internet users of digital content in Pakistan. Despite its large scale consumption unfortunately at present there is no proper law on the subject in the country that provides adequate protection to the consumers of digital content. Sometime the digital content, bought by a consumer, causes greater harm to his other data that result great loss. Most of the countries have promulgated laws on the subject but no initiative can be seen in Pakistan for making such a law. In Pakistan various laws provide protection to the consumers in transactions of goods and services such as Sale of Goods Act, 1930, Islamabad Consumer Protection Act, 1995, NWFP Consumer Protection Act, 1997, Punjab Consumer Protection Act, 2005, Balochistan Consumer Protection Act, 2003 and Sindh Consumer Protection Ordinance, 2007. However, under the existing regime, it is not clear in terms that whether digital content falls in the category of goods or services. It is also not mentioned anywhere in the said laws that if a digital content causes damage to the other data whether or not the manufacturer, supplier or retailer can be held responsible for such loss. Due to its importance and day by day increase of digital content in modern times it is proposed that there should be a proper legislation on the subject that ensures adequate protection for the consumers of digital content. In order to protect rights of the digital-content consumers, all contracts for digital content should include an implied term guaranteeing the safety, quality of the digital content and fitness for the purpose. The consumers should be entitled to refunds or other remedies for defective or poor quality content. Issues related piracy of such products should also be given due consideration in the proposed legislation. Though it is possible that the purpose may be achieved through amendment in the existing laws but it is highly recommended that a new legislation should be enacted on the subject as there are many loop holes in the current consumer laws such as lack of harmony and analytical inconsistency among them. There should be a national policy which should be followed by promulgation of laws in all provinces for the protection of digital content consumers. Organizations in Pakistan that work for the protection of consumers should also give due consideration to the issue of digital-content and spread awareness among the masses for the need of such a law. This law in long run will not only protect consumers but also producers and businesses dealing in digital content product. It is, therefore, highly recommended that government should take keen steps in formulating concrete national policy on the subject and making laws for the protection of the consumers of digital content.
Desert

Blog admin 16 May 2014

The world is developing at a rapid pace. New luxuries are coming up and we strive to have whatever luxury we can have in our life. Loans play a great role in helping us buy what we cannot buy from our normal salary. After taking the loans, we can then payback the banks in time with some extra money which is to be paid according to the interest rate that has been levied by the bank or lender. Interest rate calculators like Zinseszins.eu help a lot on helping you calculate interest that you must pay together with the principal amount to payback your loan.

Compound Interest Rate Calculators

There are a few things that you must know to calculate your compound interest. First of all you should know what compound interest actually is. In simple words, compound interest is also known as variable interest. That is so because you’re principal amount on which interest is levied keeps on changing as time passes. This is why it is also known as variable interest. The basic characterization of Compound interest is that in the initial days it increases slowly, and then increases very first, which can also be called as an exponential growth. For interest calculation, you should have the following info at hand:

  • Initial Capital
  • Interest Rate
  • Frequency of Interest

With the above mentioned info at hand, you can easily calculate the compound interest with the use of interest calculator sites like the one mentioned above. Compound interest can also be calculated with a very simple mathematical formula which anyone with a basic of idea of this sort of mathematics can do. But if you want to avoid all these hassles, then these interest rate calculation websites are always there at your aid.

Like for loan, compound interest can also be levied on your savings. That is if you have put your money in bank, you can also get compound interest on that savings of yours. This way your principal capital will keep on increasing and hence you will be earning interest money. Like in the case of loans, you can use interest rate calculators to calculate your amount that you will have in the coming days or years from your initial capital too. This way you can see how much money you will have in your account if you put if up for savings in the bank.