KARACHI – The 7th National Mathematics Colloquium was organised at the Institute of Business Management (IoBM) on Saturday.

Experts, including scientists, mathematicians, academicians and professionals, unfolded miracles of mathematics in the developmental perspective of Pakistan, said an announcement from the IoBM Public Affairs Section.  The theme of the Colloquium was “Stochastic Modeling and Data Analysis” – Applications in Actuarial Science, Risk Management, Computer Science, Engineering, Economics, Finance and Management.

Papers presented applied to such fields of growth as agriculture, industry, banking, insurance, trade, commerce, shipping, aviation, business, management, transport, communication, environment, energy, medicine, engineering, science, technology and information technology.

Different personalities were present on the occasion, who become the trend-setters in reversing the brain drain in the topics pertaining to the theme as Prof Dr SM Aqil Burney of Karachi University, Prof Masoodul Haq, Usman Institute of Technology, Karachi, Samiul Hassan, an Actuary of national and international repute and others.

Papers presented in this Colloquium included Analysing Human Communities Using Fuzzy Graphs by Sarah Altaf and Ayesha Kidwai; Stochastic Exponential Model for Population Growth by Ubaidullah, Arfan Haider, Erfan Qureshi; Extending the Stochastic Approach to Paasches Price Index Numbers by Prof Dr SM Aqil Burney and Arfa Maqsood; Conditional Relationship between Risk and Return: Evidences from an Emerging Market by Sara Azhar; Does Stock Price Volatility Originates from Macro Shocks? Empirical Evidence from the South Asian Equity Market by Javed Iqbal and Sadia Aslam; Application of Stochastic Volatility Model to KSE-100 by Syed Monis Javed.

Speakers believed when proposals of such colloquia benefit such fields of development as those pertaining to social, physical, biological, medical, environmental sciences etc., or for that matter, favorably contribute to economic development, business  management and its allied disciplines, what remain of vital significance is feedback and follow up so that these benefits are favorable reflected in the overall developmental perspective of the country.

Earlier, Mr. Talib Karim, Rector, IoBM, congratulated the organizers on this occasion, especially in inviting the brains of the country to illuminate the audience on such a specialized theme as Mathematics Colloquium on “Stochastic Modeling and Data Analysis” and their application in such fields as already pursued in different programs acsdemic at IoBM. While Dr Syed Iftikhar Ali, Head of the Department of Mathematics at IoBM welcomed the distinguished guests, Dr Ejaz Ahmed, Dean, College of Computer Science and Information Systems (CCSIS) reflected upon the theme of the Colloquium and said that IoBM was the only institution hosting and sharing through such colloquia for seven consecutive years.

The Institute of Business Management has previously organized Mathematics colloquium on the various themes such as, Optimisation, Simulation, Financial Mathematics, Risk Management, Forecasting and Risk Forecasting.