Hi dear. My name is saima gul. I am paksitani. I did msc finance from uk. Know I have heard that australia is offering permanent residency to thoes students who have done or who will be doing two years post graduate study. My question is that does australia need work experience as well with the degree or its OK only with two year education?

It would be better if you contact the proper authorities to find out, don't go on what other people say.
Try this website
Immigration - australia.gov.au (http://www.australia.gov.au/Immigration)
It may be of some help to you.
We Aussies are usually pretty helpful, so don't be afraid to ask any questions.
May God bless your application.
:-)

One of our friends came over here from Singapore, she is a qualified accountant, however, she came to study at Hillsong College as a Christian Councillor.
After she finished her course and during also, she worked in aged care to help finance her stay and now that she has finished her course, that work experience can be used to supplement her application.
It also got her a full time job as a councillor with a Christian organization and she now fills all the requirements for a permanent visa.
:-)