Pakistan Economy

  • ALERT! Investment Disclaimer
    All the information on FORUMS.COM.PK / Finance.PK is provided for information purpose only. The information has been obtained from the sources believed to be reliable. Analysis provided is opinion only. BUY / HOLD / SELL call may be True / False / or Misleading. You are solely responsible for all types of investment and trading decisions made by you.
  • جو شخص بہانہ بنانے میں بہت اچھا ہو ، وہ کسی اور کام میں اچھا نہیں ہو سکتا
  • پیسہ بدترین آقا ہے، مگر بہترین غلام بھی ہے
  • کسی فرد یا قوم کو برباد کرنا ہے تو اس کی امید کو مار ڈالیے اور اگر اسے تعمیر کرنا ہے اس کی امید کا دیا روشن کیجئے
  • کامیابی سوچ سے ملتی ہے
  • زندگی کی دوڑ میں دوسروں سے آگے نکلنے کیلئے تیز چلنا ضروری نہیں، بلکہ ہر رکاوٹ کے باوجود چلتے رہنا اور مسلسل چلتے رہنا ضروری ہے
  • جب باتیں آمنے سامنے ہوتی ہیں تو جھوٹ اور غلط فہممی کا خاتمہ ہو جاتا ھے
  • بہت اونچے پہاڑ پر چڑھنے کے لئیے قدم آہستہ آہستہ اٹھانا پڑتے ہیں
  • تین چیزیں نیکی کی بنیاد ہیں، تواضع بے توقع, سخاوت بے منت اور خدمت بے طلبِ مکافات
  • غربت اور افلاس کی وجہ پیداوار کی کمی نہیں، بلکہ اسکی غلط تقسیم ہے
  • دولت ہونے سے آدمی اپنے آپ کو بھول جاتا ہے اور دولت نہ ہونے سے لوگ اس کو بھول جاتے ہیں
  • مصروف زندگی نماز کو مشکل بنا دیتی ہے , لیکن نماز مصروف زندگی کو بھی آسان بنا دیتی ہے
  • گناہ کو پھیلانے کا ذریعہ بھی مت بنو, کیونکہ ہوسکتا ہے آپ تو توبہ کرلو, لیکن جس کو آپ نے گناہ پر لگایا ہے وہ آپ کی آخرت کی تباہی کا سبب بن جائے
  • اپنی زندگی میں ہر کسی کو اہمیت دو, جو اچھا ہوگا وہ خوشی دے گا اور جو برا ہوگا وہ سبق دے گا
  • درخت جتنا اونچا ہو گا اس کا سایہ اتنا ہی چھوٹا ہو گا, اس لیے اونچا بننے کی بجائے بڑا بننے کی کوشش کرو
  • جو شخص کوشش اور عمل میں کوتاہی کرتا ہے, پیچھے رہنا اس کا مقدر ہے
  • جو لوگ میانہ روی اختیار کرتے ہیں, کسی کے محتاج نہیں ہوتے
  • حقیقی بڑا تو وہ ہے جو اپنے ہر چھوٹے کو پہچانتا ہوں اور اس کی ضروریات کا خیال رکھتا ہو

BPositive

Administrator
Apr 7, 2017
175
0
0
#1
Forex reserves fall by $245 million

The country's total liquid foreign exchange reserves declined by $245 million to $21.550 billion during the week ended March 31, 2017. During the week, forex reserves held by the State Bank of Pakistan (SBP) decreased by $264 million to $16.466 billion. The decrease has been mainly attributed to external debt servicing and other official payments. The net foreign exchange reserves held by commercial banks, however increased by $19 million to $5.084 billion during the week.

http://fp.brecorder.com/2017/04/20170407164831/

ADB projects 5.2 percent GDP growth

Asian Development Bank (ADB) has projected GDP growth for Pakistan at 5.2 percent in fiscal year 2017, a rate that has been downgraded by Finance Minister Ishaq Dar to five percent, and 5.5 percent in 2018 against six percent projected in the budget, but maintained that regulation remains burdensome, requiring more reform to provide an enabling environment that facilitates business and fosters investment. In its latest Asian Development Outlook (ADO) 2017, ADB forecasts higher growth, with inflation and current account deficit edging up on higher oil prices and substantial imports for a major investment project. Continued economic reform is essential to reach a high growth trajectory.

http://fp.brecorder.com/2017/04/20170407164815/

Preserve economic stability gains, IMF tells government

The International Monetary Fund has urged Pakistan to strengthen its export and manufacturing industries and to fix its electricity supply or face putting hard-won economic gains at risk. The IMF said recent reforms, including cutting costly subsidies, privatising some loss-making state companies and building up foreign reserves, had strengthened Pakistan''s economy and set it on a path to higher growth. Pakistan''s economic position has improved sharply since it came close to default in 2013, but the IMF warned "a number of challenges in the fiscal, external, and energy sectors could affect hard-won stability gains in the period ahead". Boosted by a $6.7 billion bailout package, it has completed an IMF reform programme and set in motion $57 billion worth of infrastructure projects connected to the Beijing-funded China-Pakistan Economic Corridor (CPEC) project.

http://fp.brecorder.com/2017/04/20170407164809/

LSM figures clouded by doubts


Large Scale Manufacturing (LSM) growth, a contributor to the Gross Domestic Product growth rate of the Country, is collected from different Associations or Chambers who reportedly are not providing accurate figures, a perception shared by officials and independent economists. According to Pakistan Bureau of Statistics (PBS), the overall output of LSM increased by 3.48 percent for July-January-2016-17 compared to the same period of 2015-16.

http://fp.brecorder.com/2017/04/20170407164788/

Cement sales climb to 30.3m tones

Cement despatches soared to record 30.304 million tonnes during the first nine months of the current fiscal year. The All Pakistan Cement Manufacturers Association (APCMA) on Thursday reported a seven per cent increase in overall sales during July-March period of 2016-17 over the corresponding period of last year with domestic consumption rising 11pc, but exports declined by 15pc.

https://www.dawn.com/news/1325407/cement-sales-climb-to-303m-tonnes

Registered Hepatitis C drugs available at lowest prices in the world: DRAP

The Drug Regulatory Authority of Pakistan (DRAP), in a statement issued in the backdrop of a recent press conference organised by the Pakistan Young Pharmacists Association and Pakistan Drug Lawyers Forum, has asserted that Hepatitis C medicines of 19 pharmaceutical companies were registered and the said drugs are freely available in the market.

https://www.thenews.com.pk/print/19...-available-at-lowest-prices-in-the-world-DRAP

SSGC plans Rs64.9bln pipeline project to transport 1.2bcfd gas

Sui Southern Gas Company (SSGC) has approved Rs64.9 billion worth of project to develop a 1.2 billion cubic feet/day (bcfd) capacity pipeline for the transportation of re-gasified liquefied natural gas to Lahore, it emerged on Thursday. The SSGC’s board of directors approved the 370-kilometre long and 42-inch diameter pipeline project with an expected completion in October 2018, an official document said. The government wants to import more liquefied natural gas for the upcoming terminals in the country. Keeping in view the diminishing indigenous gas resources, there is an immediate need to develop addition pipeline capacity from Karachi to Lahore.

https://www.thenews.com.pk/print/196942-SSGC-plans-Rs649bln-pipeline-project-to-transport-12bcfd-gas

Dar asks German companies to benefit from SEZs in Pakistan

Finance Minister Ishaq Dar on Thursday suggested the German companies to explore the possibility of benefitting from the opportunities available in the special economic zones (SEZs) being established in Pakistan. Ishaq Dar held a meeting with the visiting German Federal Minister for Economic Cooperation and Development Dr Gerd Muller on Thursday at the PM House in Islamabad. Matters of mutual interest with particular focus on bilateral development, cooperation between Pakistan and Germany were discussed during the meeting.

https://www.thenews.com.pk/print/197021-Dar-asks-German-companies-to-benefit-from-SEZs-in-Pakistan
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#2
Dar to represent Pakistan at IMF-WB spring meetings: Finance Minister Ishaq Dar would lead Pakistan delegation to the IMF – World Bank spring meetings in Washington from 21-23 April. The minister will also participate in the 50th Annual Meeting of the ADB Board of Governors, which will be held in Yokohama, Japan from 4 to 7 May 2017. A meeting, chaired by the finance minister here on Sunday, reviewed preparations for a meaningful participation of Pakistani delegations in both the events.
Source: http://nation.com.pk/business/10-Apr-2017/dar-to-represent-pakistan-at-imf-wb-spring-meetings

Govt’s plan of privatising PSEs moving at snail’s pace: The government’s plan of privatising public sector entities (PSEs) is moving at snail’s pace, as it had not privatised any entity since August 2015. The PML-N government after coming into power in June 2013 had announced to privatise 69 PSEs, which included loss-making Pakistan International Airlines, Pakistan Steel Mills, and power generation companies. However, the government had so far privatised profit-making entities, including Habib Bank Limited (HBL), United Bank Limited (UBL), Allied Bank Limited (ABL), Pakistan Petroleum Limited (PPL) and National Power Construction Company.
Source: http://nation.com.pk/business/08-Apr-2017/govt-s-plan-of-privatising-pses-moving-at-snail-s-pace

To repay Eurobond debt, Pakistan likely to borrow $750m from China: Pakistan may borrow another $750 million as a short-term foreign commercial loan from China, ironically to pay back the Eurobond debt incurred during the rule of Gen (retd) Pervez Musharraf, also underscoring that the country is no more able to retire its debt from own resources.
Source: https://tribune.com.pk/story/1377579/repay-eurobond-debt-pakistan-likely-borrow-750m-china/

Rs 546b released under PSDP in 9 months: The government has released over Rs546 billion for various development projects across the country under the Public Sector Development Programme (PSDP). According to statistics provided by Ministry of Planning and Development, the aforementioned amount was released till 31st of the last month of the current financial year.
Source: http://nation.com.pk/business/10-Apr-2017/rs-546b-released-under-psdp-in-9-months

Panama case verdict may be announced this week: The much-awaited verdict on the Panama case is expected to be announced this week which may have implications only on the political future of a sitting parliamentarian, legal experts told Business Recorder.
Source: http://fp.brecorder.com/2017/04/20170410166908/

SBP borrowing dollars to arrest fall in reserves: Currency dealers said on Saturday the State Bank of Pakistan (SBP) has been buying dollars from local banks and borrowing from overseas commercial banks to maintain foreign exchange reserves at the current level of $21.5 billion. The government is trying to arrest the fall in foreign exchange reserves that have been declining since October last year.
Source: https://www.dawn.com/news/1325842/sbp-borrowing-dollars-to-arrest-fall-in-reserves

Upgraded infrastructure to boost investment, says ADB report: The upgrade of Pakistan’s infrastructure is expected to attract direct investment from abroad, including mature industries in China which seek lower-cost locations, the Asian Development Bank says in a new report. The China-Pakistan Economic Corridor will significantly address Pakistan’s infrastructure deficit caused by annual spending on infrastructure at only 2-3 per cent of GDP over the past four decades.
Source: https://www.dawn.com/news/1326032/upgraded-infrastructure-to-boost-investment-says-adb-report

Chinese co likely to install oil refinery in Sindh: Mingyuan Holdings Group Co limited - a Chinese company has offered to install an oil refinery in Sindh with the investment of $2 billion. The refinery estimated to refine over 10 million tonnes of oil annually to set the commodity in the local and international markets. The delegation of the Chinese company led by its chairman Ji Hong Shui presented this offer during meeting with Sindh Board of Investment (SBI) Chairperson Naheed Memon here on Friday.
Source: http://nation.com.pk/business/08-Apr-2017/chinese-co-likely-to-install-oil-refinery-in-sindh

Govt likely to bound energy investors to lay transmission lines: Government is mulling a proposal to pass on a responsibility of laying power transmission line to the energy investor in order to share the cost as well as accelerate pace of a project’s execution, sources said on Saturday. The sources said the new mechanism will bound new power producers to lay transmission line from their own resources to connect their projects with the nearest grid network.
Source: https://www.thenews.com.pk/print/19...nd-energy-investors-to-lay-transmission-lines

Foreign interest transforming auto landscape: The Board of Investment (BoI) has received two formal applications from prospective investors to set up auto assembly plants in Pakistan in the greenfield category of the Automotive Development Policy 2016-21, a senior official told Dawn. The BoI has received a comprehensive business plan from Lucky Cement for setting up an auto plant in partnership with South Korean carmaker Kia Motor. It involves a total investment of Rs28.45 billion.
Source: https://www.dawn.com/news/1325837/foreign-interest-transforming-auto-landscape

Policy demanded to avoid repeat of cotton crop failure: The government has been urged to formulate a new cotton policy to avoid losses suffered due to crop failure over the last two consecutive years. Analysts say the key crop failure should be taken seriously also because it did not occur in any of the cotton-growing countries except Pakistan. Pakistan’s cotton production stood at 15 million bales in the 2013-14, which dropped to around 10m bales during the last two seasons.
Source: https://www.dawn.com/news/1325841/policy-demanded-to-avoid-repeat-of-cotton-crop-failure

BCL pulls out of Dewan deal: Bestway Ce¬m¬¬e¬nt Ltd (BCL) has said it is pulling out of a deal to acquire Dewan Cement Ltd’s (DCL) north plant due to delay and uncertainty arising out of the recent legal proceedings initiated in the Sindh High Court (SHC).
Source: https://www.dawn.com/news/1325580/bcl-pulls-out-of-dewan-deal

SMEs want cut in sales tax rates: The Small and Medium Enterprises Alliance (SAMEA) has urged the government to reduce sales tax rates and also relax collateral condition on bank loans. In its budget proposals for 2017-18, the organisation pointed out that sales tax rates in Pakistan were high despite low per-capita income. SAMEA President Zafar Iqbal said that in developed countries like the United States where per-capita income was much higher the general sales tax (GST) rate was between four to eight per cent compared to 17pc in Pakistan.
Source: https://www.dawn.com/news/1325578/smes-want-cut-in-sales-tax-rates

Pakistan improves ranking on tourism competitiveness index: With less than a million foreign tourists visiting the country on an average, Pakistan has been able to improve its ranking by one point in 2017 – currently at 124 out of 136 countries – covered in the Travel and Tourism Competitiveness Index 2017 released by the World Economic Forum. Earlier, the country was ranked 125 out of 141 countries in 2015.
Source: https://www.dawn.com/news/1325829/pakistan-improves-ranking-on-tourism-competitiveness-index

‘Consumers to face power outages in Ramazan’: Speaking in a meeting of the National Assembly Standing Committee on Water and Power, chaired by Arshad Khan Leghari, on Friday, Additional Secretary Ministry of Water and Power Omer Rasul revealed that at present the gap between power supply and demand stood at 5,000MW and it would be a success if the shortfall was maintained in the summer season this year.
Source: https://tribune.com.pk/story/1377568/consumers-face-power-outages-ramazan/

Pakistan Railways will not be privatised, says minister: Federal Minister for Railways Khawaja Saad Rafique strongly rebuffed rumours about the privatisation of Pakistan Railways, saying that the state-owned corporation is successfully elevating its revenue streams and did not need to be sold off.
Source: https://tribune.com.pk/story/1378291/pakistan-railways-will-not-privatised-says-minister/

State of emergency in Egypt after IS church bombings kill 44: Egyptian President Abdel Fattah al-Sisi announced a three-month state of emergency following twin church bombings by the Islamic State group that killed dozens on Palm Sunday, the deadliest attacks on the minority in recent memory.
Source: http://www.brecorder.com/2017/04/10...cy-in-egypt-after-is-church-bombings-kill-44/

Exporters fear loss as duty drawback payment delayed: The value-added textile exporters are exposed to heavy financial losses as they have passed on the benefit of cut in cost to the international buyers immediate after the announcement of PM incentive package to the export-oriented industry but not a single penny has been released so far in this regard.
Source: http://nation.com.pk/business/09-Apr-2017/exporters-fear-loss-as-duty-drawback-payment-delayed
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#3
News Pulse (April 10, 2017)

World Bank plans parley to resolve Pakistan-India water disputes
The World Bank’s officials are in contact with the Pakistani and Indian authorities to work out an agenda of a meeting, possibly starting this month in US, to resolve the perennial water disputes between India and Pakistan under the Bank’s meditation, a senior official said on Friday. The official said the World Bank’s management is finalising the modalities, in consultation with both the countries, of the proposed meeting under a dispute resolution mechanism of the Indus Waters Treaty.
https://www.thenews.com.pk/print/19...rley-to-resolve-Pakistan-India-water-disputes

Pakistan can become world’s 20th biggest economy
Pakistan has an immense potential to become the world’s 20th largest economy by 2030, a UK lawmaker said on Saturday, terming the country as a land of opportunities. “Pakistan has a huge potential as there is a plenty of business opportunities in the country, particularly in Karachi, which is why UK parliamentarians are keen to strengthen and deepen relations with Pakistan,” British Parliamentarian Rehman Chishti said during a visit to the Karachi Expo Centre on the second day of ‘My Karachi Exhibition’.
https://www.thenews.com.pk/print/197418-Pakistan-can-become-worlds-20th-biggest-economy

CPEC generating interest from developed economies
There is great potential for developed economies like the United Kingdom (UK) to join the China-Pakistan Economic Corridor (CPEC) and other projects in China’s One Belt, One Road (OBOR) initiative. “The UK is poised to be a key partner of CPEC” and will host a conference in Islamabad in May, Chinese newspaper “Global Times” quoting a UK government’s website reported on Friday. The news offers a positive signal that the CPEC has received an increasing amount of attention from developed economies. China is likely to welcome enterprises from the UK and other developed nations to participate in the construction of CPEC which has long been seen as a flagship project in the OBOR initiative.
http://nation.com.pk/business/08-Apr-2017/cpec-generating-interest-from-developed-economies

Pak-Iran to sign FTA after resumption of banking channels
Pakistan-Iran Free Trade Agreement (FTA) will be signed between the two countries after State Bank of Pakistan and Central Bank of Iran resume banking channels, a senior official of ministry of commerce told the media on Sunday. "Joint ministerial level meeting between Pakistan and Iran to be held in Tehran on April 18, for negotiation on bilateral trade and FTA between the two countries," said the official. "We are very much looking forward to the progress on bilateral trade and enhance export to Iran," the official said.
http://nation.com.pk/business/09-Apr-2017/pak-iran-to-sign-fta-after-resumption-of-banking-channels

Bestway shelves plan to acquire Dewan Cement
Bestway Cement Limited on Friday announced it has shelved its plan to acquire north plant of Dewan Cement Limited, citing some legal hiccups and clearly leaving a room for other local players or a Chinese entrant to join forces with a key cement maker. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Limited located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the company said in a notice issued to the Pakistan Stock Exchange.
https://www.thenews.com.pk/print/197165-Bestway-shelves-plan-to-acquire-Dewan-Cement

Govt releases over Rs546b for development projects
The government has released over five hundred and forty-six billion rupees for various development projects across the country, reported Radio Pakistan on Sunday. According to statistics provided by the ministry of planning and development, the amount has been released upto 31st of last month for the current financial year. National Highway Authority (NHA) has been provided over one hundred and sixty-six billion rupees while over twenty-four billion rupees were given to Railways Division. Similarly, over one hundred and thirty billion rupees were released to WAPDA and Pakistan Atomic Energy Commission got over seventeen billion rupees.
http://nation.com.pk/business/09-Apr-2017/govt-releases-over-rs546b-for-development-projects

SECP seeks public support for Islamic micro financing
The Securities and Exchange Commission of Pakistan (SECP) on Friday sought the support from public as well as policymakers to promote shariah-compliant micro-financing sector in the country. “In order to increase financial inclusion in Pakistan, the SECP is providing enabling regulations for the non-banking microfinance institution segment,” Zafar Abdullah, commissioner at Specialised Companies Division said in a statement.
https://www.thenews.com.pk/print/197170-SECP-seeks-public-support-for-Islamic-micro-financing

SECP registers 819 companies in March
The Securities and Exchange Commission of Pakistan (SECP) registered 819 new companies during the month of March, witnessing an increase of 34 percent as compared to same month of preceding year, numbers released by the commission showed on Saturday. According to the stats in the statement, the commission registered 5,858 new companies during the first nine months of current fiscal year, representing a growth of 33 percent compared to the corresponding period last year.
https://www.thenews.com.pk/print/197415-SECP-registers-819-companies-in-March

PTCL inks deal with Malaysia’s Iflix
Pakistan Telecommunication Company Limited (PTCL) customers can now enjoy free access to the content of Iflix, a Malaysian subscription video-on-demand service, a statement said on Saturday. “The PTCL and Iflix have entered an agreement, which allows our customers to watch a wide range of Iflix content for a full year,” Adnan Shahid, PTCL’s chief commercial officer told a press conference.
https://www.thenews.com.pk/print/197441-PTCL-inks-deal-with-Malaysias-Iflix

China plans to finance $8 bn for Pakistan Railways’ Mainline
China has shown its interest to fully finance over $8 billion for upgrading Pakistan Railways’ Mainline (ML-1) by enhancing amount of China Pakistan Economic Corridor (CPEC) up to $54 billion from earlier committed amount of $51.5 billion. Beijing had already jacked up CPEC funding from $46 billion to $51.5 billion after indicating $5.5 billion for upgrading Pakistan Railways (PR) and now they are considering increasing it up to around $54 billion. “China wants to complete rail project on priority basis without involvement of any other multilateral or bilateral donors in order to accomplish the task in next three to four years period,” said the official sources.
https://www.thenews.com.pk/print/197374-China-plans-to-finance-8-bn-for-Pakistan-Railways-Mainline

Aptma demands immediate payment of refunds
All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz has condemned the Federal Board of Revenue (FBR) for rolling back all sales tax refund payment orders (RPOs) issued to the export-oriented sectors. The APTMA chief urged Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar to intervene and direct the FBR to make payments without any further delay. He said that only the immediate payment of all outstanding refunds of sales tax to claimants against the already issued RPOs could save the industry, which is facing severe liquidity crunch.
http://nation.com.pk/business/08-Apr-2017/aptma-demands-immediate-payment-of-refunds

PC-1 for Gilgit-Ghizer Expressway ready
Gilgit-Baltistan (G-B) Chief Minister Hafeezur Rehman has disclosed that a PC-I has been prepared for the construction of the Gilgit-Ghizer Expressway at an estimated cost of Rs1.35 billion. Presiding over a meeting on Friday, he said that development projects had been launched in all districts. In this regard, he directed Works Department secretary to start work on G-B’s highways under Phase-II while ensuring quality and standard in construction. Officials of the Works Department were further directed to ensure timely and transparent completion of all projects.
http://nation.com.pk/national/08-Apr-2017/pc-1-for-gilgit-ghizer-expressway-ready

Exporters fear loss as duty drawback payment delayed
The value-added textile exporters are exposed to heavy financial losses as they have passed on the benefit of cut in cost to the international buyers immediate after the announcement of PM incentive package to the export-oriented industry but not a single penny has been released so far in this regard. This was stated by Pakistan Hosiery Manufacturers Association (PHMA) Chairman Adil Butt while expressing his concern on undue delay in refunds payment to the exporters.
http://nation.com.pk/business/09-Apr-2017/exporters-fear-loss-as-duty-drawback-payment-delayed
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#4
BOI achieves foreign investment target of $1.3 billion

ISLAMABAD, Apr 9 (APP):The Board of Investment (BOI) has achieved $ 1.3 billion foreign investment target set for first three quarters of current fiscal year.

The Board of Investment(BOI) has set total $2.7 billion target for foreign investment for the year 2016-17,Spokesman of Board of Investment (BOI) told APP here.
He said that seven Special Economic Zone (SEZ) cells had been approved for facilitating the investors through one window operation to provide them facility at one place.
The spokesman said that SEZs investors would get the facility for plant and machinery import without customs duty and also 10 years tax holiday for investment by June 30, 2020.

The investors who would invest in SEZs after June 30, 2020 would get tax holidays for five years.
Replying to a question, he said that 9 more industrial zone have been approved for high tech industry to enhance the export and employment opportunities in the country.

He said the Cell has been furnished on the contemporary corporate style and will be equipped with state-of-art facilities.
The spokesman said that Joint Working Group (JWG) also formed under Chairman BOI, Dr.Miftah Ismail for industrial collaboration.
Coca-Cola, he said is presently contemplating a further US$ 200 million of green field investment, and expand Coca-Cola’s production and distribution capacity in Pakistan in Faisalabad and Islamabad regions.

The company has already invested US$ 500 million during this year on the up-gradation of the existing plants in the country.
He further said that Coca-Cola intends preferably to establish their units at Special Economic Zones (SEZ) in Pakistan.
The spokesman said that Pakistan has one of the most liberal foreign investment regimes in South Asia.
The Board of Investment (BOI) is fully committed to reviving the confidence of foreign businessmen to ultimately boost foreign investment in the country.
He said that foreign investors were keen to invest in various sectors of Pakistan.
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#5
Head of visiting UK delegation terms Pakistan a land of opportunity

KARACHI, April 8 (APP): The head of the visiting seven-member British Parliamentary delegation, Rehman Chishti MP, while terming Pakistan as ‘land of opportunities’, said that the country has huge potential as there are plenty of business opportunities in Pakistan, particularly in Karachi, that was the basic reason UK parliamentarians are keen to strengthen and deepen relations with Pakistan.

We are here in Pakistan and Karachi as we believe that Pakistan’s economy is going to become the 20th largest economy of the world by 2030 because of good governance and infrastructure
he added while visiting on the second day of 14th My Karachi-Oasis of Harmony Exhibition at Expo Center on Saturday, says a statement of the Karachi
Chamber of Commerce and Industry (KCCI).

President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Chairman Special Committee for My Karachi Exhibition, Muhammad Idrees and KCCI Managing Committee members accompanied the British Parliamentarians during their tour to different stalls at the Expo Center.

Rehman Chishti, who is also the Chairman of British Parliamentary Committee on Pakistan, said that the reality about Pakistan was totally different as compared to its perception.

Karachi is safe and the people of Karachi are great
he added.

He informed that the British Prime Minister will be visiting Pakistan within the next few months whereas the British Trade Minister will also be visiting this country within the next couple of weeks.

‘British Foreign Minister and Home Minister have already visited Pakistan and our Prime Minister will also be arriving here as it is our desire to further deepen the existing relations between both the countries, he said, adding that UK wants to improve and maximize its trade and investment with Pakistan.

Rehman Chishti noted that around 1.1 million British Pakistanis are inhabiting in UK who are contributing at every level.

‘It is our willingness to engage these British Pakistanis in promoting trade and investment between the two countries’, he added.
To a query regarding UK’s interest in China-Pakistan Economic Corridor (CPEC), he said, ‘We are reviewing all the aspects of CPEC and it seems that all aspects have potential for British investment.

CPEC offers great investment opportunities for United Kingdom across all sectors.

Referring to British Parliamentarians delegation’s meetings with Chief Ministers of Sindh and Punjab, he said that they were willing to make sure that the investment opportunities reaching Pakistan from UK are equally distributed amongst provinces.

He informed that both countries enjoy strong trade ties and UK was looking forward for investment opportunities in Services, Goods, Banking and Security, Tourism sectors.
Meanwhile, bustling activities resumed in full swing at the Karachi Expo Center as massive number of visitors continued to pour into the Expo Center on second day of My Karachi Exhibition, which was also toured by Director General Pakistan Rangers Sindh Maj. Gen. Muhammad Saeed, Mayor Karachi Waseem Akhter, Consul General of Russia Oleg N. Avdeev, Consul General of Sri Lanka H.M.B. Herath, Consul General of Indonesia Dempo Awang Yuddie, Consul General of Thailand Suwat Kaewsook and other dignitaries, who highly admired KCCI’s efforts to promote the positive and soft image of Karachi.

DG Rangers Sindh, Maj. General Mohammad Saeed, who was accompanied by Chairman Businessmen Group and Former President KCCI Siraj Kassam Teli and other prominent businessmen and industrialists during his tour to My Karachi Exhibition, highly appreciated BMG Leadership and KCCI Management for effectively highlighting Karachi and its citizens as peace-loving.

President KCCI, Shamim Ahmed Firpo, while commenting on the progress of My Karachi Exhibition, stated that they have received overwhelming response from people belonging to all walks of life who highly appreciated KCCI’s efforts towards organizing this lovely event which has provided Karachiites an opportunity to spend some good time with their families and carry out shopping in a secure atmosphere.
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#6
CPEC generating interest from developed economies

BEIJING : There is great potential for developed economies like the United Kingdom (UK) to join the China-Pakistan Economic Corridor (CPEC) and other projects in China’s One Belt, One Road (OBOR) initiative.

Britain’s desire to join CPEC

The UK is poised to be a key partner of CPEC
and will host a conference in Islamabad in May, Chinese newspaper “Global Times” quoting a UK government’s website reported on Friday.

The news offers a positive signal that the CPEC has received an increasing amount of attention from developed economies. China is likely to welcome enterprises from the UK and other developed nations to participate in the construction of CPEC which has long been seen as a flagship project in the OBOR initiative.

The initiative not only provides a platform for China and countries along the routes to enhance cooperation, but also adheres to the principle of openness and inclusiveness in global economic development. Currently, China is encouraging wider participation from developed economies in the initiative.

In March, New Zealand signed a cooperation agreement with China on the OBOR initiative, a first for western developed countries. An OBOR initiative summit, to be held in Beijing in May, will also provide an opportunity to enhance cooperation between China and developed countries.

It can be expected that the CPEC and some other projects in the initiative will get more attention from western leaders in the coming months. The steady development of CPEC has made Pakistan more attractive to foreign investment.

Some developed countries, as the traditional foreign trade partners of many emerging economies along the OBOR initiative, have a clear intent to increase trade with those countries, Pakistan included.

Minister for Planning, Development and Reform Ahsan Iqbal has stated that Pakistan welcomes the desire of Britain to join the multi-billion dollar CPEC project.

Malaysia wants to utilise Gwadar port

He added that several other countries in the European Union (EU) and the Central Asian Republic are also evincing keen interest in the mega project. This proves that the project is not only restricted to Pakistan and China, but has a greater regional impact.

The minister said that CPEC, which has changed the image of the country, would make Pakistan a hub of manufacturing and commerce.

Source: APP
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#7
CPEC to accelerate economic growth of all countries in region: Pakistani diplomat

CHICAGO, April 9 (APP): The China Pakistan Economic Corridor (CPEC) would help boost economy of all countries in the region and even benefit the U.S. which is selling turbines for energy projects in Pakistan, a senior Pakistani diplomat has said.

Speaking at a seminar marking the 70th anniversary of Pakistan, Consul General Faisal Niaz Tirmizi said the United Kingdom, Germany and South Korea had also expressed interest to invest in Pakistan’s infrastructure and energy projects.

The event was organized by the Pakistan Student Association of Illinois Institute of Technology (IIT), Chicago.

The President of Pakistani Student Association, Faizan Urfi, introduced Consul General Tirmizi to the audience that included a number of students from Pakistan, U.S., Bangladesh, India and Europe.

Emphasizing that students were future leaders, the consul general said that the skills of Pakistani foreign qualified engineers, IT professionals and doctors would take the country to the heights of economic and technological development.

Tirmizi urged the students to organize similar events at all educational institutions to highlight the rich cultural heritage of Pakistan. The premises of Pakistan Consulate in Chicago have been turned into a platform for Pakistani-American community’s activities.

The event was rounded off with a 45-minute question-answer session during which many students asked about Pakistan’s internal situation, Islamabad-Washington relations and the country’s bilateral relations with regional countries, especially Afghanistan, India and Iran.

Some students from India and Bangladesh expressed their desire to visit Pakistan along with their Pakistani classmates to get a better understanding of the country. Consul General Tirmizi welcomed the idea.

Pakistan, he said, was progressing politically, economically and socially, despite serious challenges emanating from deteriorating regional challenges.
 

ACA

New member
Apr 9, 2017
187
0
0
#8
Three alarm bells

Trade deficit: For the first time ever in Pakistan’s history, our imports are projected to hit $50 billion. For the first time ever in Pakistan’s history, our trade deficit is projected to hit a colossal $30 billion. (Trade deficit is the “amount by which the cost of a country’s imports exceeds the value of its exports”).

https://www.thenews.com.pk/print/197495-Three-alarm-bells
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#9
Economy News

Tatarstan to work with Pakistan for promoting halal food Halal| Positive

The Republic of Tatarstan is ready to work with Pakistan for promoting halal food. During the event, halal food experts and officials representing various countries including Malaysia, Indonesia, Russia, Tatarstan, the United Kingdom, Turkey and some Middle Eastern nations presented their research papers. Click here for more

Probe against petroleum ministry officials in Rs86bn scam Oil| Negative

FIA has launched a probe into the role of some senior officials of the petroleum and natural resources ministry in the alleged embezzlement of billions of rupees by some national and international oil and gas companies.The investigation relates to the embezzlement of Rs86 billion allegedly committed by 40 companies. According to the audit reports, “nine companies sold oil worth billions of rupees in connivance with officers/officials of the petroleum ministry after misappropriating the same from 34 oil wells in the name of ‘test production’ over the past six years. Click here for more

SECP to amend sukuk regulations Sukuk | Neutral to Positive

SECP) is amending the 2015 Issue of Sukuk Regulations to facilitate issuers, reducing the cost of issue and easing the regulatory burden. The proposed amendments include waiving mandatory underwriting where the purpose of the issue is to repay its existing debts, reducing the minimum number of underwriters from two to one. Click here for more

Remittances decrease 2.3pc to $14bn Economy| Negative

Pakistan received $14 billion remittances in the first nine months of the current fiscal year, down 2.3 per cent year-on-year. Click here for more

Gas moratorium goes for all categories of consumers SNGP | SSGC| Positive

Prime Minister Nawaz Sharif on Monday approved ending a moratorium on fresh bulk gas connections to domestic, commercial and industrial consumers and ordered settlement of growing circular debt for smooth running of the energy sector. Click here for more

KP govt to provide cheaper electricity to industry Economy| Positive

Khyber Pakhtunkhwa Chief Minister Pervez Khattak on Monday presided over a meeting of the board of directors of the Energy and Power Development Fund, which approved transfer of Rs15 billion to the fund. It was also decided that 76 megawatts of electricity to be produced by Daral Khwar and Machai hydropower projects by June-July would be provided for industrial consumption at cheaper rates to accelerate industrial growth. Click here for more

International News

Saudi finance minister says no income taxes for Saudi citizens

Saudi Arabia's finance minister said on Sunday that citizens would not pay taxes on income and Saudi companies would not see their profits taxed under sweeping economic reforms being introduced in the oil-rich kingdom. Click here for more

Copper Stockpiles Fall From Three-Year High

Combined stockpiles in warehouses tracked by exchanges in Shanghai, London and New York have fallen 9.6 percent from a three-year high in mid-March, while money managers boosted their bullish bets on copper traded on the London Metal Exchange for a fourth straight week. Click here for more

Aba Ali Habib Securities
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#10
Remittances decrease 2.3pc to $14bn: Pakistan received $14 billion remittances in the first nine months of the current fiscal year, down 2.3 per cent year-on-year. According to data released by the State Bank of Pakistan (SBP) on Monday, inflows from most major sources of remittances did not improve in July-March. Remittances from countries of the European Union grew, but their share in total remittances was small. With a rising current account deficit that jumped to $5.5bn in July-Feb against $2.5bn a year ago, Pakistan has been struggling to maintain its foreign exchange reserves.
Source: https://www.dawn.com/news/1326167/remittances-decrease-23pc-to-14bn

Growth rate to fall short of target: think tank: The GDP growth rate for 2016-17 will fall short of the target of 5.7 per cent, according to the half-yearly economic review issued on Monday by the Institute for Policy Reforms (IPR), an independent think tank. The report said the GDP growth rate for the year will remain above 5pc. A sudden rise in the current account deficit is serious, it said. “At 2.6pc of GDP, it has breached already the year’s target of 1.5pc of GDP.” Pakistan’s exports as a ratio of GDP are at a historic low, it said, adding that this ratio was in double digits in 2000-10. It is now about 5pc.
Source: https://www.dawn.com/news/1326168/growth-rate-to-fall-short-of-target-think-tank

AIDC set to discuss business plans of two auto companies: The Auto Industry Development Committee (AIDC) is all set to discuss business plans of M/s Daehan Dewan Motor Company and Al-Haj Faw Motors (Pvt) Ltd on April 13, 2017. However, business plan of M/s Pak Suzuki is not being treated at par with those of the other two companies. Source: http://fp.brecorder.com/2017/04/20170411167106/

SECP amends reporting and disclosure rules: The Securities and Exchange Commission of Pakistan (SECP) has directed listed companies that the directors, executive officer and substantial shareholder of a listed company may apply to the Commission to obtain certified copy of their returns and forms filed with the Commission. Source: http://fp.brecorder.com/2017/04/20170411167111/

July-March: Rs 168 billion revenue shortfall: The government has suffered a shortfall of around Rs 168 billion during July-March (2016-17) due to 7 percent lower collection than the budgeted target for the period, informed sources revealed to Business Recorder. Total revenue collection for the first nine months was Rs 2258 billion against a budgetary target of Rs 2426 billion, reflecting a 7 percent shortfall or in total terms Rs 168 billion.
Source: http://fp.brecorder.com/2017/04/20170411167089/

SECP to amend sukuk regulations: In order to develop the Islamic capital market, the SECP is amending the 2015 Issue of Sukuk Regulations to facilitate issuers, reducing the cost of issue and easing the regulatory burden. The proposed amendments include waiving mandatory underwriting where the purpose of the issue is to repay its existing debts, reducing the minimum number of underwriters from two to one.
Source: https://www.dawn.com/news/1326166/secp-to-amend-sukuk-regulations

FBR estimates Rs70bln in revenue losses to exemptions in FY17: Tax authorities have factored in a revenue loss of around Rs70bn for the current fiscal year of 2016/17 owing to the exemptions awarded to China-Pakistan Economic Corridor (CPEC) projects as well as under exports package, officials said. The Federal Board of Revenue (FBR) has estimated the cost of tax exemption at around Rs30 billion due to incentives given under the exports package.
Source: https://www.thenews.com.pk/print/19...70bln-in-revenue-losses-to-exemptions-in-FY17

FBR criticised for rolling back RPOs: Exporters have criticised Federal Board of Revenue’s (FBR) decision to roll back all electronically created refund payment orders belonging to five export-oriented sectors. In a joint meeting on Monday, the exporters of more than a dozen value-added textile associations expressed concern over the FBR’s move which they said would hurt Pakistan’s already falling exports.
Source: https://www.dawn.com/news/1326164/fbr-criticised-for-rolling-back-rpos

OICCI asks Sindh govt to tax actual agri income: The Over¬seas Investors Chamber of Commerce and Industry (OICCI) has asked the Sindh government to tax actual agriculture income, and also reduce sales tax rate from 13 to 10 per cent over the next three years for registered entities. The OICCI, a representative body of foreign investors, in its taxation propo¬sals for the Sindh budget 2017-18 also urged the provincial government to cut sales tax on telephone usage and bring it on a par with GST rate on services.
Source: https://www.dawn.com/news/1326162/oicci-asks-sindh-govt-to-tax-actual-agri-income

CDWP to discuss approval of over 25 projects today: The Central Development Working Party (CDWP) will discuss today (Tuesday) approval of more than 25 development projects at an estimated cost of Rs 86.02 billion.
Source: http://fp.brecorder.com/2017/04/20170411167173/

FBR unearths massive tax evasion by sugar mill: The FBR has found a sugar mills allegedly involved in massive evasion of federal excise duty by suppressing its actual production and causing losses of multi-million rupees to national exchequer. Keeping in view the volume of business and hiring of high profile professionals including lawyers, there are only few cases in the pocket of FBR and its Intelligence agencies that were made against large manufacturing concerns especially sugar mills.
Source: https://www.thenews.com.pk/print/197877-FBR-unearths-massive-tax-evasion-by-sugar-mill

Gas moratorium goes for all categories of consumers: Prime Minister Nawaz Sharif on Monday approved ending a moratorium on fresh bulk gas connections to domestic, commercial and industrial consumers and ordered settlement of growing circular debt for smooth running of the energy sector. Informed sources said the secretaries for water and power and petroleum gave separate presentations to the committee, the first focusing on loadshedding plan and electricity shortfalls and the second one on receivables of oil and gas companies exceeding Rs350 billion and the need for opening up gas connections to bulk and large consumers like industries and housing colonies with expected inflows from abroad.
Source: https://www.dawn.com/news/1326169/gas-moratorium-goes-for-all-categories-of-consumers

Wapda to add 10,000MW,store 10.6MAF water: While re-strategising its priorities for optimal utilisation of water and hydropower resources in the country, the Water and Power Development Authority (Wapda) is implementing as many as eight mega projects on fast track basis with cumulative power generation capacity of more than 10,000 megawatt (MW) and gross water storage capacity of 10.6 million acre feet (MAF).
Source: https://www.thenews.com.pk/print/197748-Wapda-to-add-10000MWstore-106MAF-water

Census to be completed at all cost, says Bajwa: Undeter¬red by a recent terrorist attack carried out by the banned TTP on soldiers performing census duty, Chief of the Army Staff Gen Qamar Javed Bajwa declared that the sixth population and housing census would be completed at all cost.
Source: https://www.dawn.com/news/1326154/census-to-be-completed-at-all-cost-says-bajwa

IMF, WTO, OECD vow to defend free trade against protectionism: The chiefs of the IMF, WTO and OECD vowed on Monday in a joint statement to defend free trade against creeping protectionist trends, amid growing global alarm over US President Donald Trump’s “America First” call. The World Trade Organisation has forecasted that global trade would likely grow only within a range of 1.8pc to 3.1pc this year.
Source: https://www.dawn.com/news/1326163/imf-wto-oecd-vow-to-defend-free-trade-against-protectionism
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#11
July-March workers’ remittances down 2.3 percent

Inflows of workers' remittances sent by overseas Pakistanis fell slightly by 2.3 percent during the first nine months of this fiscal year (FY17), mainly due to a slowdown from all major corridors. According to State Bank of Pakistan (SBP), overseas Pakistani workers remitted $ 14.058 billion in first nine months (July to March) of FY17, compared with $ 14.388 billion during the same period in the preceding year (FY16), depicting a decline of $ 330 million.
http://fp.brecorder.com/2017/04/20170411167103/

FBR estimates Rs70bln in revenue losses to exemptions in FY17

Tax authorities have factored in a revenue loss of around Rs70 billion for the current fiscal year of 2016/17 owing to the exemptions awarded to China-Pakistan Economic Corridor (CPEC) projects as well as under exports package, officials said on Monday. The Federal Board of Revenue (FBR) has estimated the cost of tax exemption at around Rs30 billion due to incentives given under the exports package.
https://www.thenews.com.pk/print/197728-FBR-estimates-Rs70bln-in-revenue-losses-to-exemptions-in-FY17

Nightmare of falling exports continues to haunt experts

Exports need special attention that currently account for only 7.4 percent of Pakistan's GDP, exactly the half of Bangladesh's exports that are equivalent to 14.8 percent of its GDP. Pakistan is heading towards an unmanageable situation, as despite its improving GDP growth, its exports are declining creating a big trade deficit that even the remittances have not been able to plug. With a GDP of $271.1 billion (2015 estimates), Pakistan’s exports in 2016 were $20.96 billion. Pakistan’s external debt as on December 2016 was estimated at $604.04 billion.
https://www.thenews.com.pk/print/197735-Nightmare-of-falling-exports-continues-to-haunt-experts

PM warns against delay in power projects

Prime Minister Muhammad Nawaz Sharif on Monday warned officials and departments against laxity in the completion of ongoing power projects on time, as the government was not only focused on the prevailing energy shortfalls but was also resolute to provide for growing future energy requirements. He emphasized that it was the highest priority of the government to completely eliminate loadshedding in the shortest-possible time.
https://www.thenews.com.pk/print/197908-PM-warns-against-delay-in-power-projects

AIDC set to discuss business plans of two auto companies

The Auto Industry Development Committee (AIDC) is all set to discuss business plans of M/s Daehan Dewan Motor Company and Al-Haj Faw Motors (Pvt) Ltd on April 13, 2017. However, business plan of M/s Pak Suzuki is not being treated at par with those of the other two companies. According to official documents, the AIDC will discuss implementation of ADP 2016-21 regarding reimbursement /adjustment @ Kibor plus 2 per cent on delivery beyond 60 days and recommend a legislation. Automotive Development Policy 2016-21 was approved by the ECC of the Cabinet on March 18, 2016 which became effective from 1 July 2016. Under the policy certain consumer welfare measures were taken by Government of Pakistan to facilitate end consumers.
http://fp.brecorder.com/2017/04/20170411167106/

CDWP to discuss approval of over 25 projects today

The Central Development Working Party (CDWP) will discuss today (Tuesday) approval of more than 25 development projects at an estimated cost of Rs 86.02 billion. According to the CDWP meeting agenda available with Business Recorder, the projects of Sindh government are as follows: Flood Emergency Reconstruction Project Phase-II at an estimated cost of Rs 11.5 billion and Rehabilitation of Sukkur Barrage Improvement Project Phase-II for Concept Clearance Committee would also be discussed in the meeting. The CDWP would discuss as many as three energy projects at cost of Rs 20.3 billion including (i) Construction of new 132KW Grid Station and Transmission Lines (SEPCO) at cost of Rs 9.27 billion, (ii) Distribution Rehabilitation (Energy Loss Reduction) (SEPCO) at a cost of 9.2 billion and (iii) Distribution Expansion (DOP) (SEPCO) at cost of Rs 1.83 billion.
http://fp.brecorder.com/2017/04/20170411167173/

FBR unearths massive tax evasion by sugar mill

The FBR has found a sugar mills allegedly involved in massive evasion of federal excise duty by suppressing its actual production and causing losses of multi-million rupees to national exchequer. Keeping in view the volume of business and hiring of high profile professionals including lawyers, there are only few cases in the pocket of FBR and its Intelligence agencies that were made against large manufacturing concerns especially sugar mills.
https://www.thenews.com.pk/print/197877-FBR-unearths-massive-tax-evasion-by-sugar-mill

Thousands of megawatt electricity will be added to national grid by year end

Chief Minister Shahbaz Sharif has said the PML-N government is honouring its promise of steering the country out of quagmire of problems and putting it on the road to progress. All-out resources are being utilised for removing darkness from the country, he added. He said that under the leadership of Prime Minister Nawaz Sharif, unprecedented work is being carried out for the elimination of energy crisis. He said the PML-N government has introduced a culture of working day and night and power plants are being completed expeditiously throughout the country for overcoming shortage of energy. By the end of 2017, thousands of megawatt electricity will be added to national grid with the completion of energy projects, he added.
https://www.thenews.com.pk/print/197885-Thousands-of-megawatt-electricity-will-be-added-to-national-grid-by-year-end

Power sector’s circular debt swells to Rs385bln

Power sector’s circular debt swelled to Rs385 billion as of March 31, a brokerage said on Monday, calling for a government’s immediate action to settle receivables of energy chain in order to avert electricity crisis during the sweltering summer. Analyst Kumail Chevelwalla at Taurus Securities Limited said this amount doesn’t include payments owed to gas companies. Total payables to independent power producers (IPPs) stood at Rs107 billion, while payment to Pakistan State Oil amounted to Rs56 billion.
https://www.thenews.com.pk/print/197733-Power-sectors-circular-debt-swells-to-Rs385bln
 

BPositive

Administrator
Apr 7, 2017
175
0
0
#12
Govt ought to repay $1bln on Eurobond maturity in May, June: Pakistan needs to repay at least one billion dollars on account of its foreign debt liabilities during the upcoming May and June and so the government is exploring various options of borrowings to ensure the timely repayments without creating pressure on the country’s foreign exchange reserves, sources said on Tuesday.
Source: https://www.thenews.com.pk/print/197948-Govt-ought-to-repay-1bln-on-Eurobond-maturity-in-May-June

Trade deficit widens to $23.4b in nine months: Pakistan’s trade deficit has widened to $23.4 billion during nine months (July-March) of the ongoing financial year due to massive increase in the country’s imports and decline in exports. The imports increased by 18.67 percent to $38.5 billion during July-March of FY2017 from $32.4 billion of the last year. However, the exports tumbled by 3.06 percent to $15.1 billion in nine months of the current fiscal year from $15.6 billion of the same period of the previous year.
Source: http://nation.com.pk/business/12-Apr-2017/trade-deficit-widens-to-234b-in-nine-months

Exports increase to $1.801 billion in March: Pakistan’s exports rose 9.95 percent month-on-month and 3.62 percent year-on-year to $1.801 billion in March, official data showed on Tuesday, indicating that the government’s exports package is coming to fruition. Early this year, the government announced Rs180 billion (approximately $1.8 billion) tax incentives scheme to arrest the continuous decline of exports.
Source: https://www.thenews.com.pk/print/197950-Exports-increase-to-1801-billion-in-March

Car sales up 1.7 percent in July-March: Sales of passenger cars posted an increase of 1.7 percent in the first nine months of the current fiscal year 0f 2016/17, while tractor sales rose 74 percent during the period, manufactures said on Tuesday.
Source: https://www.thenews.com.pk/print/197951-Car-sales-up-17-percent-in-July-March

ECNEC may approve evacuation of power from two plants today: A meeting of the Executive Committee of the National Economic Council (ECNEC) scheduled today (Wednesday) is likely to approve evacuation of power from two 660MW Thar coal based Sino-Sindh Resources and Sindh Engro Coal Limited (SSRL/SECL) power plants at Thar (PC-I). Sources said that a meeting of the ECNEC to be presided over by the Finance Minister Ishaq Dar is expected to take up around 16 projects for water, energy and transport sectors.
Source: http://fp.brecorder.com/2017/04/20170412167404/

UAE allows Pakistan to ship halal products via sea: The United Arab Emirates (UAE) has allowed transportation of halal products from Pakistan via sea which would bring down freight cost by one third, Punjab Halal Development Agency (PHDA) Chairman Justice (retired) Khalil-ur-Reman Khan said on Tuesday.
Source: https://www.dawn.com/news/1326387/uae-allows-pakistan-to-ship-halal-products-via-sea

Consultancy contract for Warsak power station awarded: The Water and Power Development Autho¬rity (Wapda) awarded on Tues¬¬day the contract of consultancy services worth Rs868 million through an international competitive bidding for a second Rehabilitation of Warsak Hydroelectric Power Station to a Joint Venture comprising four firms led by Dolsar from Turkey.
Source: https://www.dawn.com/news/1326383/consultancy-contract-for-warsak-power-station-awarded

Rs13b invested to upgrade Lesco transmission lines: Minister: The transmission lines of the Lahore Electric Supply Company (Lesco) has been upgraded with new investment of Rs13 billion, as 274km long new transmission lines have been laid down, which would be capable of transmitting 2,310MVA additional electricity.
Source: http://nation.com.pk/business/12-Ap...-to-upgrade-lesco-transmission-lines-minister

CDWP okays several uplift projects worth Rs74b: The Central Development Working Party (CDWP) on Tuesday approved several development projects worth Rs74.48 billion in various sectors. Source: http://nation.com.pk/business/12-Apr-2017/cdwp-okays-several-uplift-projects-worth-rs74b

PDWP approves Rs171m health scheme: The Punjab Provincial Development Working Party (PDWP) has approved development scheme of Health sector with an estimated cost of Rs171.515 million.
Source: http://nation.com.pk/business/12-Apr-2017/pdwp-approves-rs171m-health-scheme
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#13
Govt ought to repay $1bln on Eurobond maturity in May, June

Pakistan needs to repay at least one billion dollars on account of its foreign debt liabilities during the upcoming May and June and so the government is exploring various options of borrowings to ensure the timely repayments without creating pressure on the country’s foreign exchange reserves, sources said on Tuesday. “Two major repayments on external fronts will be due in May and June 2017 – including $750 million on account of Eurobond and another $250 million within this period,” a source, privy to the development.
https://www.thenews.com.pk/print/197948-Govt-ought-to-repay-1bln-on-Eurobond-maturity-in-May-June

July-March: Trade deficit rises 38.8 percent to $23.38 billion

Pakistan's trade deficit rose to $23.38 billion during the first nine months (July-March 2017) of the current fiscal year, up by 38.80 per cent from $16.84 billion for the same period a year before, according to Pakistan Bureau of Statistics (PBS). Provisional trade data released by the PBS on Tuesday showed a decline of 3.6 per cent in exports during July-March 2017 with exports contracting to $15.119 billion in the first nine months of the current fiscal year as compared to $15.597 billion for the same period of the last fiscal year.
http://fp.brecorder.com/2017/04/20170412167378/

ECNEC may approve evacuation of power from two plants today

A meeting of the Executive Committee of the National Economic Council (ECNEC) scheduled today (Wednesday) is likely to approve evacuation of power from two 660MW Thar coal based Sino-Sindh Resources and Sindh Engro Coal Limited (SSRL/SECL) power plants at Thar (PC-I). Sources said that a meeting of the ECNEC to be presided over by the Finance Minister Ishaq Dar is expected to take up around 16 projects for water, energy and transport sectors.
http://fp.brecorder.com/2017/04/20170412167404/

UAE allows transportation of halal products through sea

Punjab Halal Development Agency (PHDA) Chairman Justice Khalilur Reman Khan has said that the UAE authority has allowed transportation of halal products through sea that would bring down the cost of freight by one third.
http://nation.com.pk/business/12-Apr-2017/uae-allows-transportation-of-halal-products-through-sea

Govt releases Rs2.979bln for uplift projects

The government has so far released Rs2.979 billion for various projects of the Finance Division of its total allocations of Rs9.433 billion earmarked under the Public Sector Development Programme (PSDP) for the fiscal year 2016/17. Of the total funds released, Rs700 million have been released for Gwadar Development Authority of its total allocations of Rs1,000 million.
https://www.thenews.com.pk/print/197967-Govt-releases-Rs2979bln-for-uplift-projects

Car sales up 1.7 percent in July-March

Sales of passenger cars posted an increase of 1.7 percent in the first nine months of the current fiscal year 0f 2016/17, while tractor sales rose 74 percent during the period, manufactures said on Tuesday. Pakistan Automotive Manufacturers Association (PAMA) said total car sales rose 1.72 percent, whereas trucks-buses sales increased 38.7 percent. According to PAMA data, a total of 139,570 cars were sold during the nine-month period, higher than 137,206 cars in the corresponding period of last year. A total of 72,095 cars of 1300cc or above category were sold during July-March period against 64,882 units sold during the same period of last year. In March 2017, a total of 18,295 cars were sold.

A total of 6,174 buses and trucks were sold during July-March period against 4,451 units last year. Farm tractors recorded a growth of 74 percent in sales to 38,620 units, compared to 22,169 units during the same period of last year.
https://www.thenews.com.pk/print/197951-Car-sales-up-17-percent-in-July-March

Askari Bank, Pak Oman sign deal

Askari Bank Limited has entered into a share purchase agreement with Pak Oman Asset Management Company for the sale of its wholly-owned subsidiary Askari Investment Management Limited, a bourse filing said on Tuesday.
https://www.thenews.com.pk/print/197969-Briefs

Wapda hires contractor for Warsak hydropower station

The Water and Power Development Authority (Wapda) has awarded the Rs868 million contract of consultancy services for Warsak hydroelectric power station to a Turkish-led joint venture, a statement said on Tuesday. The contract was awarded through an international competitive bidding for the 2nd rehabilitation of the power station – on River Kabul at about 30-kilometre from Peshawar – to a joint venture, comprising of four firms led by Dolsar, an engineering firm from Turkey.
https://www.thenews.com.pk/print/197949-Wapda-hires-contractor-for-Warsak-hydropower-station
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#14
Govt ought to repay $1bln on Eurobond maturity in May, June

Pakistan needs to repay at least one billion dollars on account of its foreign debt liabilities during the upcoming May and June and so the government is exploring various options of borrowings to ensure the timely repayments without creating pressure on the country’s foreign exchange reserves, sources said on Tuesday. “Two major repayments on external fronts will be due in May and June 2017 – including $750 million on account of Eurobond and another $250 million within this period,” a source, privy to the development.
https://www.thenews.com.pk/print/197948-Govt-ought-to-repay-1bln-on-Eurobond-maturity-in-May-June

July-March: Trade deficit rises 38.8 percent to $23.38 billion

Pakistan's trade deficit rose to $23.38 billion during the first nine months (July-March 2017) of the current fiscal year, up by 38.80 per cent from $16.84 billion for the same period a year before, according to Pakistan Bureau of Statistics (PBS). Provisional trade data released by the PBS on Tuesday showed a decline of 3.6 per cent in exports during July-March 2017 with exports contracting to $15.119 billion in the first nine months of the current fiscal year as compared to $15.597 billion for the same period of the last fiscal year.
http://fp.brecorder.com/2017/04/20170412167378/

ECNEC may approve evacuation of power from two plants today

A meeting of the Executive Committee of the National Economic Council (ECNEC) scheduled today (Wednesday) is likely to approve evacuation of power from two 660MW Thar coal based Sino-Sindh Resources and Sindh Engro Coal Limited (SSRL/SECL) power plants at Thar (PC-I). Sources said that a meeting of the ECNEC to be presided over by the Finance Minister Ishaq Dar is expected to take up around 16 projects for water, energy and transport sectors.
http://fp.brecorder.com/2017/04/20170412167404/

UAE allows transportation of halal products through sea

Punjab Halal Development Agency (PHDA) Chairman Justice Khalilur Reman Khan has said that the UAE authority has allowed transportation of halal products through sea that would bring down the cost of freight by one third.
http://nation.com.pk/business/12-Apr-2017/uae-allows-transportation-of-halal-products-through-sea

Govt releases Rs2.979bln for uplift projects

The government has so far released Rs2.979 billion for various projects of the Finance Division of its total allocations of Rs9.433 billion earmarked under the Public Sector Development Programme (PSDP) for the fiscal year 2016/17. Of the total funds released, Rs700 million have been released for Gwadar Development Authority of its total allocations of Rs1,000 million.
https://www.thenews.com.pk/print/197967-Govt-releases-Rs2979bln-for-uplift-projects

Car sales up 1.7 percent in July-March

Sales of passenger cars posted an increase of 1.7 percent in the first nine months of the current fiscal year 0f 2016/17, while tractor sales rose 74 percent during the period, manufactures said on Tuesday. Pakistan Automotive Manufacturers Association (PAMA) said total car sales rose 1.72 percent, whereas trucks-buses sales increased 38.7 percent. According to PAMA data, a total of 139,570 cars were sold during the nine-month period, higher than 137,206 cars in the corresponding period of last year. A total of 72,095 cars of 1300cc or above category were sold during July-March period against 64,882 units sold during the same period of last year. In March 2017, a total of 18,295 cars were sold.

A total of 6,174 buses and trucks were sold during July-March period against 4,451 units last year. Farm tractors recorded a growth of 74 percent in sales to 38,620 units, compared to 22,169 units during the same period of last year.
https://www.thenews.com.pk/print/197951-Car-sales-up-17-percent-in-July-March



Askari Bank, Pak Oman sign deal

Askari Bank Limited has entered into a share purchase agreement with Pak Oman Asset Management Company for the sale of its wholly-owned subsidiary Askari Investment Management Limited, a bourse filing said on Tuesday.

https://www.thenews.com.pk/print/197969-Briefs



Wapda hires contractor for Warsak hydropower station

The Water and Power Development Authority (Wapda) has awarded the Rs868 million contract of consultancy services for Warsak hydroelectric power station to a Turkish-led joint venture, a statement said on Tuesday. The contract was awarded through an international competitive bidding for the 2nd rehabilitation of the power station – on River Kabul at about 30-kilometre from Peshawar – to a joint venture, comprising of four firms led by Dolsar, an engineering firm from Turkey.

https://www.thenews.com.pk/print/197949-Wapda-hires-contractor-for-Warsak-hydropower-station
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#15
Economy News

Ministry told to release funds to provinces Economy| Positive

The Ministry of Finance on Wednesday was directed to promptly release funds for federal projects in provinces to avoid friction. The Senate Standing Committee on Finance noted the delay in funds disbursement for projects in Balochistan and Sindh. Click here for more

Ecnec approves 15 projects worth Rs261.2bn Economy | Positive

Ecnec on Wednesday approved 15 development projects, mostly in the power sector, at an estimated cost of Rs261.2 billion. The meeting also approved Green Line Bus Rapid Transit System for Karachi, from KESC Powerhouse Chowrangi (Abdullah Chowk) in Surjani to the central business district of the city at a revised total cost of Rs24.604bn. Click here for more

Pak economy to grow 5pc over next two years due to CPEC: Moody’s Economy | Neutral

Pakistan’s economy has strengthened following successful completion of its three-year programme with International Monetary Fund (IMF) where the economy is expected to grow by 5 percent over the next two years because of CPEC projects as infrastructure gaps may reduce through increased investment in transportation and power. Click here for more

Long term funds’ assets to GDP ratio crawls to 1.44 percent PSX | Funds | Positive

The mutual fund industry’s assets to GDP ratio surged by a nominal 33 basis points in four years to 1.44 percent in 2016 opening up opportunities for growth if right policies were put in place. Click here for more

Retail sector’s bank deposits down 17 percent Banks| Negative

The bank deposits of retail sector have declined over 17 percent owing to the government’s move to document the transactions made by traders. Click here for more

KP attracts investment proposals worth USD 30 bn Economy| Positive

The Khyber Pakhtunkhwa province is rapidly emerging as a prospective hot investment hub following introduction of business-friendly policies and development of infrastructure for rapid industrialization. At present, the KP government has successfully attracted $30 billion in investment proposals in the shape of letter of interests (LOIs) for development of infrastructure and industrial sectors. Click here for more

PSO inks two LNG deals PSO| Positive

Pakistan State Oil (PSO) has signed two agreements with two different companies for import of the Liquefied Natural Gas (LNG) at a price of 13.37 per cent of Brent for supply of 4.5 million tons per annum (MTPA) LNG. Click here for more

Gas connections: Cabinet accords approval to CCoE recommendations SNGP | SSGC | Positive

Premier Cement Company, a wholly owned subsidiary of Sapphire Fibres Limited (SFL) has been approved mining lease licenses by the Mines and Minerals department Khyber Pakhtunkhwa. Click here for more


SECP to hold awareness sessions to address In-house Financing PSX| Positive

In the recent notice sent to clearing members / settling banks, Pakistan Stock exchange (PSX) will be joining hands with National Clearing Company of Pakistan Limited (NCCPL) and Central Depository Company of Pakistan Limited (CDC) to conduct awareness sessions to review In-house Financing. The first session is scheduled to be held on Thursday, 13th April, 2017 at PSX Auditorium, Karachi. Click here for more
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#16
US authorises disbursement of $550 million to Pakistan this year: The US Department of Defence said on Tuesday that it authorised the disbursement of $550mn to Pakistan this year as recognition of the significant sacrifices the Pakistani military has made in the fight against terrorism. The money comes from the Coalition Support Funds (CSF), which reimburses Pakistan for providing logistical, military, and other support to US operations in Afghanistan.
Source: http://fp.brecorder.com/2017/04/20170413168004/

CPEC, IMF programme strengthen economy: Moody’s: Moody's, a globally recognised credit rating agency has said that the Pakistani economy has strengthened following the completion of a three-year programme under International Monetary Fund (IMF), in comments issued recently. The agency went on to explain that the fiscal deficit has narrowed, while growth has been observed in the foreign exchange and structural reforms planned out earlier. Primarily fuelled by the China-Pakistan Economic Corridor (CPEC), the nation's economy is forecasted to register a 5 percent expansion rate over the coming two years, Moody's stated. CPEC, the agency discussed further, is set to reduce infrastructural gaps via higher investment in two main facilities - transportation services and power supply.
Source: http://fp.brecorder.com/2017/04/20170413167968/

Govt decides to divest 18.3% stake in Mari petroleum: the government has decided to divet its 18.35 stake in Mari Petroleum Company limited (MPCL) at the stock market after two other joint venture partners refused to buy these shares at a price approved by the cabinet Committee on privatization.
Source: https://epaper.tribune.com.pk/Displ...0145&EN_ID=11201704130055&EMID=11201704130025

FBR mulls mandatory tax return filing for agriculturists: The Federal Board of Revenue (FBR) may recommend mandatory income tax return and wealth statement filing by agriculturists in order to prevent massive revenue losses in the agriculture sector, official sources said on Wednesday.
Source: https://www.thenews.com.pk/print/198160-FBR-mulls-mandatory-tax-return-filing-for-agriculturists

Ecnec approves 15 projects worth Rs261.2bn: The Executive Committee of the National Economic Council (Ecnec) on Wednesday approved 15 development projects, mostly in the power sector, at an estimated cost of Rs261.2 billion.
Source: https://www.dawn.com/news/1326568/ecnec-approves-15-projects-worth-rs2612bn

ADB asks Pakistan to upgrade its transport system: Asian Development Bank (ADB) delegation head Peter Turner on Wednesday urged Pakistan to upgrade its transport system, as the inefficiencies in the performance of the transport sector cost the country four to six percent of the GDP annually.
Source: https://www.thenews.com.pk/print/198179-ADB-asks-Pakistan-to-upgrade-its-transport-system

Rs118bn subsidy: Senate panel seeks details from Finance Division: The Senate Standing Committee on Finance has sought sector-wise details of subsidy from the Finance Division after the committee was informed that Rs118bn have been released so far on account of subsidy. A meeting of the committee presided over by Senator Saleem Mandviwalla was informed that an mount of Rs180bn was budgeted for subsidy in the current fiscal year. So far, Rs86bn have been released to the power sector and Rs13bn to the fertiliser sector. The meeting was informed that Rs25bn are available in GIDC fund.
Source: http://fp.brecorder.com/2017/04/20170413168000/

Haj Policy approved, gas connections restored: The federal cabinet on Wednesday approved the Haj Policy-2017 and also removed the moratorium on new natural gas connections. Prime Minister Nawaz Sharif, while addressing the cabinet that met here at the Prime Minister’s Office (PMO), asked the Religious Affairs Ministry to review the Haj expenditures and present them before the next cabinet meeting.
Source: https://www.thenews.com.pk/print/198311-Haj-Policy-approved-gas-connections-restored

Retail sector’s bank deposits down 17 percent: The bank deposits of retail sector have declined over 17 percent owing to the government’s move to document the transactions made by traders. According to the data of bank deposits by category of deposit holders released by the State Bank of Pakistan (SBP) on Wednesday, the bank deposits of retail trade came down to Rs146.5 billion by the end of March as compared to Rs176.83 billion by June 2015.
Source: https://www.thenews.com.pk/print/198164-Retail-sectors-bank-deposits-down-17-percent

Long term funds’ assets to GDP ratio crawls to 1.44%: The mutual fund industry’s assets to GDP ratio surged by a nominal 33 basis points in four years to 1.44% in 2016 opening up opportunities for growth if right policies were put in place. As of April 21, 2017, there are 20 asset management companies in Pakistan managing 198 mutual funds with total assets of Rs625 billion. According to a report issued by Mutual Funds Association of Pakistan (MUFAP), the long term fund industry’s (excluding money market funds) assets to GDP ratio was 1.11 percent in 2012, which has improved to 1.44 percent in 2016.
Source: https://www.thenews.com.pk/print/198162-Long-term-funds-assets-to-GDP-ratio-crawls-to-144-percent

Chinese firm awarded thar power project: ThalNova power thar (private) limited has awarded the engineering, procurement and construction contract of the 330-MW power plant in Thar, Sindh to China Machinery Engineering Corporation (CMEC), the company announced Wednesday.
Source: https://epaper.tribune.com.pk/Displ...0148&EN_ID=11201704130055&EMID=11201704130025

Two-part tariff for NTDC approved by Nepra: National Electric Power Regulatory Authority (Nepra) has approved a two-part tariff for National Transmission and Despatch Company (NTDC) to meet 7.4 per cent increased revenue requirements: Rs31.41bn in 2016-17 from Rs29.25bn in 2015-16 for provision of transmission and allied services to Central Power Purchasing Agency -Guaranteed (CPPA-G) and power Distribution Companies (Discos). The regulator has determined fixed charge (USCF) at Rs 136.04/kW/month and variable charge (USCV) at Rs 0.163363/kWh x Losses and Load (LaL) factor.
Source: http://fp.brecorder.com/2017/04/20170413167941/

Pakistan can fill meat export vacuum: in a bid to improve Pakistan’s dwindling exports, federation of Pakistan chambers of commerce and industry (FPCCI) standing committee on horticulture chairman ahmad jawad has stated that since a host Brazilian meat buyers in the world have either banned or reduced the import of brazillian meat. Pakistan can capitalize on the opportunity and fill the vacuum.
Source: https://epaper.tribune.com.pk/Displ...0176&EN_ID=11201704130064&EMID=11201704130028

PSO inks two LNG deals, NA told: Pakistan State Oil (PSO) has signed two agreements with two different companies for import of the Liquefied Natural Gas (LNG) at a price of 13.37 per cent of Brent for supply of 4.5 million tons per annum (MTPA) LNG. The National Assembly was informed this Wednesday during the Question Hour in response to a question asked by Pakistan Peoples Party Parliamentarians (PPPP) MNA Dr Nafisa Shah.
Source: http://fp.brecorder.com/2017/04/20170413167946/

General Tyre honoured: KARACHI: Forbes Magazine has rated General Tyre among Asia’s 200 best companies below 1 Billion Club for 2016, a statement said on Wednesday. “It gives me great pleasure that Forbes Magazine has rated General Tyre among Asia’s 200 best companies below 1 Billion Club for 2016.” said General Tyre chief executive Hussain Kuli Khan in a statement.
Source: https://www.thenews.com.pk/print/198186-Briefs

National debt retirement programme concludes: The old national debt retirement programme has almost ended as the government retired most of the debt while entire foreign currency deposits were repaid, said the SBP. The federal govt launched the National Debt Retirement Programme (NDRP) to pay off the ever-increasing national debt in 1997. Funds in the NDRP were accepted from individuals, firms, companies and institutions as donations (NDRP-I), Qarz-e-Hasna (NDRP-II) and term deposits (NDRP-III). A total of Rs1.2bn was received in local currency and $178mn was received in foreign currency under the programme.
Source: https://www.dawn.com/news/1326566/national-debt-retirement-programme-concludes

PIAF urges govt to cut sales tax ratio: The Pakistan Industrial and Traders Association Front (PIAF) has reiterated its demand to cut down the sales tax rate to single digit to take burden off the consumers, besides reducing cost of production for the industry.
Source: http://nation.com.pk/business/13-Apr-2017/piaf-urges-govt-to-cut-sales-tax-ratio
 
Last edited:

ACA

New member
Apr 9, 2017
187
0
0
#17
Pak economy to grow 5pc over next two years due to CPEC: Moody’s

KARACHI: Pakistan’s economy has strengthened following successful completion of its three-year programme with International Monetary Fund (IMF) where the economy is expected to grow by 5 percent over the next two years because of China Pakistan Economic Corridor (CPEC) projects as infrastructure gaps may reduce through increased investment in transportation and power.

Willam Foster, analyst for Pakistan at Moody’s, said in an exclusive interview that fiscal deficits had narrowed, foreign exchange reserves had improved and there was advancement in some structural reforms.

Real GDP growth picked up to 4.7 percent in FY-2016 from 3.7 percent at the onset of the IMF programme in 2013. However, Pakistan’s growth potential is limited by the supply-constrained nature of the economy. Moving forward, we expect growth to increase to about 5.0 percent over the next two years as the China Pakistan Economic Corridor (CPEC) project begins to reduce infrastructure gaps through increased investment in transportation and power.

“One of the key weaknesses of Pakistan’s sovereign credit profile is the relatively high level of government debt and exposure to foreign currency risk,” Foster said. At about 67 percent of Gross Domestic Product (GDP) in FY-2016, Pakistan’s general government debt level is materially higher than that of B3-rated peers (which have a median debt level of about 50 percent of GDP).

Meanwhile, the foreign currency portion of outstanding government debt, at about 30 percent of total debt, exposes the government’s balance sheet to foreign exchange rate risk. Pakistan’s limited tax base restricts its ability to narrow fiscal deficits, while low savings and shallow capital markets hinder stable domestic financing of sizable budget deficits. Successful efforts by the government to address these issues would help strengthen the country’s sovereign credit profile.

Implementation of CPEC will, over time, address supply-side constraints through investment in transportation and power generation infrastructure, thereby bolstering Pakistan’s growth potential. However, security concerns and challenges to project coordination and government effectiveness will continue to present project implementation risks.

“We expect the general government debt-to-GDP ratio to remain near current levels over the next two years” Foster pointed. However, external debt interest payments will likely rise as a result of the financial inflows that will accompany CPEC projects. The near $50 billion China-funded investment deal to boost transportation and power infrastructure should gradually bolster Pakistan’s growth potential by reducing supply-side bottlenecks.

However, in addition to foreign direct investment inflows, project capital expenditure and imports will also be financed through external loans. As a result, debt levels may rise and interest payments on such debt would contribute to a steady increase in income outflows, thereby exacerbating the current account deficit.

Source: https://www.thenews.com.pk/print/19...ow-5pc-over-next-two-years-due-to-CPEC-Moodys
 

BPositive

Administrator
Apr 7, 2017
175
0
0
#18
Pakistan banks’ profits grow due to deposits, lending rise
April 16, 2017

ISLAMABAD, Apr 16 (APP): Commercial bank profits are rising in Pakistan on bigger volumes, enlarging transactions and growing businesses. Overall deposits of all commercial banks stood at Rs10,726.66 billion on March 3 according to the latest report by the State Bank of Pakistan (SBP), the central bank while deposits and other accounts of specialised banks stood at Rs71.07 billion.

Total assets of banks were at Rs14,941.67 billion, according to a report by Khaleej Times. Lending by banks rose, too, the SBP said. The gross advances of all scheduled banks stood at Rs5,502.81 billion in the first quarter of fiscal year 2017. Lending by banks in the same period was Rs4,835.19 billion, which was 13.8 per cent higher than the same period of fiscal year 2016.

Borrowing by all scheduled banks rose 2.8 per cent to Rs2,025.84 billion in fiscal year 2017, compared to Rs1,990.44 billion in fiscal year 2016. The central bank reports a much-awaited rise to Rs7,525.10 billion in investments by banks in fiscal year 2017, up from Rs7,039.33 billion in the past year. It shows a rise of 6.9 per cent.

The approved foreign exchange reserves with banks were Rs996.45 billion in March, compared to Rs923.4 billion, a year ago, which is higher by 7.9 per cent. All these statistics of the banking sector confirm a definite growth in all these sectors.

The report said that the economy is moving up at a good pace as stated by Finance Minister Ishaq Dar. During three-and-a-half years of the government of pro-business Prime Minister Nawaz Sharif the index has moved from around 35,000 to the current level – nearly a whopping one-third up.

The improving health of the Pakistani economy is also testified by international rating agencies and global stock market operators who have described the Pakistan Stock Exchange as “one of the top 10 emerging markets worldwide”. Besides other big foreign businessmen and financiers flocking to buy PSX shares, there is a growing interest of the investors from the UAE and China – part of which is related to the ongoing implementation of the $56 billion China-Pakistan Economic Corridor (CPEC).
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#19
Prices, sales of split air conditioners increase PAEL | Positive

The price of split air conditioners has gone up by Rs1,500-3,000 as dealers blame assemblers for pushing up the rates while a Lahore-based manufacturer said the dealers are basically cashing on soaring demand instead of manufacturers. According to figures of Large-Scale Manufacturing (LSM), production fell by 18 per cent in July-January 2016-17 to 109,097 units from 132,760 units in same period last fiscal due to thin demand in these months. Click here for more

Govt plans to boost POL storage capacity Economy| Positive

The government is planning to increase the storage capacity for petroleum, oil and lubricants (POL) at the Keamari installation area to meet growing demand. The meeting, held at the PNSC building, was attended by officials of the Ministry of Defence, Pakistan Navy, oil marketing companies and refineries. Click here for more

Large scale manufacturing expands 8.04pc in Feb LSM| Positive

LSM sector posted a staggering 8.04% YoY growth for February, official data showed on Saturday, as the key industries, including automobiles, cement and steel, are showing recovery on soft interest rate, improved energy supplies and trade incentives. Automobile sector recorded the highest 34.1% growth in February over SPLY, followed by engineering products (23.81%), food, beverages and tobacco (15.5%), pharmaceutical (12.23%), iron and steel products (8.88%), coke and petroleum products (4.56%), non-metallic mineral products (2.05%) and textile sector (1.91%) Click here for more

SECP moves FIA for crackdown against illegal brokerages PMEX| Negative

SECP on Friday moved the FIA for crackdown against at least 30 brokerages of commodity and currency trading for what it said their illegal activities. Click here for more

Budget to be announced on May 26 Economy| Positive

The government has decided to announce the budget for FY18 on May 26. Click here for more

Cable, wire manufacturers say tax breaks under CPEC hurting industry Cables| Neutral

Cable and wire manufacturers have demanded tax exemptions similar to ones offered to Chinese and other importers. Current exemptions from customs duty and sales tax on the import of wire and cable for CPEC projects promoted imports from China at the cost of local industry. The local manufacturers also demand 10pc regulatory duty on certain products to provide protection to local manufacturers. Click here for more

PM”s package for exporters: scope of DLTL expanded Leather| Positive

For export shipments until 31st March 2017 under the package, the ECC approved extension in deadline for submission of claims from 90 days to 120 days after every shipment. The ECC also approved inclusion of certain finished leather projects in the DLTL order under the package. Click here for more

ECC approves allocation of 10 mmcfd gas from Tolang field to SNGPL SNGPL| Positive

ECC) on Friday approved to allocate 10 mmcfd gas from Tolang Gas field to SNGPL, which would improve gas supply to all sectors including the power plants. Click here for more


Ghandhara Nissan signs agreement with Chinese automaker GHNL| Positive

GHNL) has signed a joint venture agreement with JAC Motors for the import, assembly, and distribution of X200 light trucks in Pakistan. Click here for more
 

xResearch

Active member
Apr 9, 2017
1,926
1
38
#20
Rs9bn credit for Sialkot-Lahore motorway approved Economy| Neutral

ECC of the Cabinet on Friday approved the issuance of PKR9bn standby credit for the Sialkot-Lahore motorway, one-month salary to PSM employees and extension in incentives for exporters. In a meeting presided over by Finance Minister Ishaq Dar, the ECC also approved the allocation of a small gas field to Sui Northern Gas Pipelines Ltd (SNGPL) and transportation of crude from an oilfield. Click here for more


Weekly inflation eases 0.82pc Economy | Positive

The weekly inflation, measured through the Sensitive Price Index (SPI), dipped for the second consecutive week. Food items whose prices rose included potatoes 4.04%, chicken 1.72%, curd 0.38%, gur 0.28%, and pulse masoor 0.23%. Click here for more


Domestic debt servicing edges up to Rs792bn Economy | Negative

Despite a low interest rate, the government paid as much as Rs792 billion in servicing domestic debt in the 7MFY17 compared to Rs764bn in the SPLY. Click here for more


Reserves increase $193m Economy | Positive

Pakistan’s total liquid foreign exchange reserves amounted to $21.7 billion on April 7, up $193.6 million or 0.9 per cent from a week ago Click here for more


Govt plans to boost POL storage capacity Economy| Positive

The government is planning to increase the storage capacity for petroleum, oil and lubricants (POL) at the Keamari installation area to meet growing demand. The meeting, held at the PNSC building, was attended by officials of the Ministry of Defence, Pakistan Navy, oil marketing companies and refineries. Click here for more


Large scale manufacturing expands 8.04pc in Feb LSM| Positive

LSM sector posted a staggering 8.04% YoY growth for February, official data showed on Saturday, as the key industries, including automobiles, cement and steel, are showing recovery on soft interest rate, improved energy supplies and trade incentives. Automobile sector recorded the highest 34.1% growth in February over SPLY, followed by engineering products (23.81%), food, beverages and tobacco (15.5%), pharmaceutical (12.23%), iron and steel products (8.88%), coke and petroleum products (4.56%), non-metallic mineral products (2.05%) and textile sector (1.91%) Click here for more


Budget to be announced on May 26 Economy| Positive

The government has decided to announce the budget for FY18 on May 26. Click here for more


Rupee strengthens against euro Exports| Negative

In the local currency market last week, experts said the rupee may come under pressure due to a widening trade deficit. The rupee turned positive against the euro and posted 25paisa gain before closing the week at Rs112.00 and Rs113.50. Click here for more


Bank deposits increase Banks| Positive

Total assets of all scheduled banks stood at Rs15,378.98bn, higher by 2.30pc over preceding week’s figure of Rs15,034.64bn Click here for more


PM”s package for exporters: scope of DLTL expanded Leather| Positive

For export shipments until 31st March 2017 under the package, the ECC approved extension in deadline for submission of claims from 90 days to 120 days after every shipment. The ECC also approved inclusion of certain finished leather projects in the DLTL order under the package. Click here for more


ECC approves allocation of 10 mmcfd gas from Tolang field to SNGPL SNGPL| Positive

ECC) on Friday approved to allocate 10 mmcfd gas from Tolang Gas field to SNGPL, which would improve gas supply to all sectors including the power plants. Click here for more
 

Forum statistics

Threads
1,024
Messages
5,065
Members
155
Latest member
Jawad Jamil

Latest posts