Pakistan Economy

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xResearch

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Apr 9, 2017
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#51
25 July 2017

DWP approves Rs99.4 billion worth of development projects
The Central Development Working Party (CDWP) on Monday approved 15 development projects with an estimated cost of Rs99.4 billion. The projects include greater Karachi sewerage plan of Rs36.117 billion sponsored by Sindh government. Minister for Planning Ahsan Iqbal chaired the meeting, which also approved institutional strengthening and efficiency enhancement of Planning Commission with a cost of Rs350 million. The project would enhance the capacity and performance of regular staff of the commission through incentive schemes and by accommodating increased number of workforce hired under China-Pakistan Economic Corridor projects and vision 2025.
https://www.thenews.com.pk/print/218575-CDWP-approves-Rs994-billion-worth-of-development-projects

Govt yet to settle Rs20bln fertiliser subsidy claim
Government is yet to settle subsidy claims worth more than Rs20 billion of the fertiliser makers, compelling them to refuse participation in a subsidy programme, a statement said on Monday. Fertiliser industry resumed sales of a key agriculture input early this month after an assurance from the finance ministry that a subsidy notification will be issued very soon. “Unfortunately, till date, this notification has not been issued due to some unknown reasons or procedural delays,” said the statement.
https://www.thenews.com.pk/print/218576-Govt-yet-to-settle-Rs20bln-fertiliser-subsidy-claims

APTMA chief concerned over low-pressure gas supply to mills
The All Pakistan Textile Mills Association (APTMA) Punjab chairman Syed Ali Ahsan has expressed concerns over the low pressure gas supply to the Punjab-based textile mills, particularly those situated in Lahore, Faisalabad and Multan. He said the textile workers would have no option but to take to the streets in case the government failed to restore gas supply to mills immediately.
http://fp.brecorder.com/2017/07/20170725201229/

Abdullah appointed acting SECP chairman as govt suspends Hijazi
The federal government Monday appointed Zafar Abdullah as acting chairman of the Securities and Exchange Commission of Pakistan (SECP) while placing the incumbent, Zafar Hajazi, under suspension. The Finance Department, through two separate notifications, suspended Hijazi, who has been remanded in the custody of the Federal Investigation Agency (FIA), and appointed SECP's "senior-most commissioner" Abdullah as the acting head of the commission.
http://nation.com.pk/national/25-Jul-2017/abdullah-appointed-acting-secp-chairman-as-govt-suspends-hijazi

Mills seek approval for timely export of sugar
Pakistan Sugar Mills Association (Punjab Zone) has rejected the government’s current policy for not granting timely export of sugar, proposing the authorities to convene an immediate meeting in order to address concerns of the stakeholders in this regard. The country, this year, has witnessed a mammoth rise in sugar production with a surplus volume of 1.8 million tons preceding the end of this crushing season. The representative of PSMA (PZ) argued that unless these produced quantities are dispelled through exports, the industry will not be able to pay to its growers. Already, protests have started in some parts of Punjab where numerous mills have not cleared their dues and the situation shall worsen by the end of the coming crushing season when another bumper crop of sugarcane is expected, they said.
http://nation.com.pk/business/25-Jul-2017/mills-seek-approval-for-timely-export-of-sugar

Oil output increased 3pc in FY17
Pakistan’s oil production grew three per cent to 88,189 barrels per day (bpd) in 2016-17, according to a research note issued by Topline Securities on Monday. Temporary shutdowns suffered by some major oil companies affected production at the start of 2017. As a result, oil production averaged 95,000bpd initially. Oil production went up 10pc year-on-year to about 91,000bpd during June. However, on a month-on-month basis, it was up 11pc, owing to the low-base effect. Nashpa field, which accounts for 26pc of Pakistan’s total oil production, experienced a brief shutdown in May.
https://www.dawn.com/news/1347410/oil-output-increased-3pc-in-fy17

‘Growth to slow in MENA, Pakistan’
The International Monetary Fund’s (IMF) World Economic Outlook (WEO) on Monday projected that growth will slow down in Middle East, North Africa, Afghanistan (MENA) and Pakistan region and slip to 2.6 per cent in 2017 but will recover to 3.3pc in 2018. The forecast reflects primarily a slowdown in activity in oil exporters, before recovering in 2018.
https://www.dawn.com/news/1347407/growth-to-slow-in-mena-pakistan
 

xResearch

Active Member
Apr 9, 2017
1,537
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#52
27 July 2017

Govt raises Rs54bn through PIBs Economy| Neutral

The first auction of Pakistan Investment Bonds (PIBs) in 2017-18 showed that the government is not interested in selling long-term bonds any more: it raised just Rs54.5 billion through PIBs although the maturing amount was Rs689.5bn. The target for this auction was Rs100bn. The government raised Rs20.8bn for three years, Rs10.4bn for five years and Rs23.1bn for 10 years. No bid was received for 20-year bonds. Click here for more

IPPs: processing fee raised manifold IPPs| Neutral
The Private Power & Infrastructure Board (PPIB) has increased Independent Power Projects (IPPs) processing fee manifold under the guise of financial autonomy Click here for more

SECP empowers Chairman Zafar Abdullah SECP | Neutral
The SECP has empowered Chairman SECP Zafar Abdullah to oversee work of Chairman''s Secretariat, Specialized Companies Division, Corporate Supervision Division and Audit Oversight Board (AOB). Click here for more
 

xResearch

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Apr 9, 2017
1,537
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#53
01 August 2017

Fruit, vegetable exports decline Exports| Neutral
The drop in exports of kinno, mango, onion and potato contributed to decline in overall exports of fruits and vegetables in 2016-17. Click here for more


LNG imports meeting up to 25pc of gas shortage LNG| Positive
Ongoing imports of Liquefied Natural Gas (LNG) are meeting up to 25 per cent of gas shortage, which currently hovers around 2.5 billion cubic feet per day. Click here for more

Liabilities: power sector given Rs 30 billion fresh guarantee Power| Positive
The Finance Ministry has provided a fresh guarantee of Rs 30 billion to the power sector for settlement of its liabilities on account of repayment of loan and interest payment through a fresh loan. Click here for more
 

xResearch

Active Member
Apr 9, 2017
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#54
03 August 2017

Public debt rises to Rs20.807 trillion in May Economy| Neutral
Pakistan’s public debt increased by 11.38 percent against a year earlier to Rs20.807 trillion in May Click here for more


Pak-Thailand to discuss FTA this month Trade|
Positive
Eighth round of talks between Pakistan and Thailand will be held from August 21 to 23 to reach a final decision on the Free Trade Agreement (FTA). Click here for more

Govt to borrow Rs3.75tr in 3 months Economy| Neutral
The government will borrow Rs3.75 trillion from the banking system in August-October. The government will borrow Rs3.45tr through market treasury bills (MTBs) and Rs300 billion through Pakistan Investment Bonds (PIBs) in the three-month period. Click here for more
 

xResearch

Active Member
Apr 9, 2017
1,537
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#55
07 August 2017

Regulator orders company to hire CEO or face penalty Companies| Neutral
SECP has ordered a private company to hire a CEO by Aug 16, otherwise a penalty of Rs500,000 will be imposed on it for failing to abide by the directives. Click here for more

Wapda directed to take action against culprits Discos| Positive
The Ministry for Planning, Development and Reforms has asked the Wapda to take action against those officials who have awarded the contract of Nai Gaj Dam, at a higher cost, without the approval of the competent forum. Click here for more

Karachi Circular Railway to be completed by Sept 2020 KCR|Positive
The revival and construction of Karachi Circular Railway, which was earlier scheduled to be completed in 10 years, would now be completed in three years, by September 2020, an official in Ministry of Planning said. Click here for more

Petrol gets cheaper by Rs1.80 and diesel by Rs2.50 per litre Oil| Neutral
The government decided on Saturday to pass only a partial price relief on to consumers of petrol and diesel, in line with the previous policy. Click here for more

Nepra may re-determine Discos’ tariffs for 2015-16 Discos|Neutral
National Electric Power Regulatory Authority (Nepra) is likely to re-determine tariffs of Power Distribution Companies (Discos) for fiscal year 2015-16, which remained unimplemented due to Ministry's stiff resistance. Click here for more

WB projects five percent growth Economy| Neutral
The World Bank has revised estimates of Gross Domestic Product (GDP) for Pakistan downward - to 5 percent for fiscal year 2017 and 5.4 percent for fiscal year 2018 Click here for more
 

xResearch

Active Member
Apr 9, 2017
1,537
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#56
Remittances drop 16.2pc month-on-month Economy| Negative
Remittances grew 16 per cent in July on a year-on-year basis while inflows dropped 16.2pc over the preceding month. The State Bank of Pakistan (SBP) reported that the country received remittances of $1.54 billion in July against $1.33bn in the same month a year ago.. Click here for more

Trade deficit widens by 56pc Economy| Negati
Merchandise trade deficit soared by almost 56 per cent in July, the Pakistan Bureau of Statistics said on Thursday. It rose to $3.2 billion as the new fiscal year opened on the back of higher growth in imports and a lower export bill. Click here for more

Forex reserves plunge Economy| Negative
The country''s total liquid foreign exchange reserves fell sharply by $ 279 million during the last week owing to external debt payment. According to State Bank of Pakistan (SBP), the country''s total foreign exchange reserves stood at $ 20 billion as on August 4, 2017 compared to $ 20.283 billion on July 28, 2017. The decrease in reserves was on account of external debt servicing and other official payments. Click here for more

Govt revises down cotton output target to 12.6mln bales in FY18 Economy| Neutral
Government revised down cotton output target by 10.26 percent to 12.60 million bales for the current season of 2017/18 over an earlier estimate as the country’s biggest crop producer Punjab fell short of targeted cultivation area. . Click here for more

Asian markets continue to fall as geopolitical risks escalate
Oil prices plunged back below $49 a barrel on Tuesday after more reports that OPEC's output rose last month despite the cartel's deal to slash production. A wave of selling washed over many Asian stock markets Thursday, with low volumes likely amplifying the effects of the rhetorical battle between the U.S. and North Korea. “There was obviously some profit-taking after a couple of weeks of strong performance,” said Bertram Lai, head of equities at CIMB Securities in Hong Kong. Click here for more
 

xResearch

Active Member
Apr 9, 2017
1,537
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#57
AHL Research
12 August 2917

Business & Economic developments during the week

Trade deficit widens by 56pc (Dawn)

Merchandise trade deficit soared by almost 56 per cent in July, the Pakistan Bureau of Statistics said on Thursday. It rose to $3.2 billion as the new fiscal year opened on the back of higher growth in imports and a lower export bill. The rising trade deficit poses one of the most serious challenges for the government in the last year of its current term. The last fiscal year saw the trade deficit rise to an all-time high of $32.58bn, representing year-on-year growth of 37pc. When the PML-N came to power in 2013, the country’s annual trade deficit was $20.44bn. It has been continuously on the rise since then.

Remittances drop 16.2pc month-on-month (Dawn)

Remittances grew 16 per cent in July on a year-on-year basis while inflows dropped 16.2pc over the preceding month. The State Bank of Pakistan (SBP) reported on Thursday that the country received remittances of $1.54 billion in July against $1.33bn in the same month a year ago. Inflows declined on a monthly basis, which indicates a downward trend following an improvement at the end of 2016-17. Remittances declined for the first time after 13 years in 2016-17.

Govt settles Rs26bn refund claims on eve of rally (Dawn)
ISLAMABAD: The PML-N government on Tuesday paid Rs26.43 billion sales tax refunds to traders and exporters, which came one day ahead of former Prime Minister Nawaz Sharif’s proposed power-show on the GT Road. A source with direct knowledge of the matter confirmed to Dawn that the finance minister personally directed the Federal Board of Revenue (FBR) on Monday to prepare a list of claimants who will be issued a refund. That list was completed by midnight and the refunds began to be issued on Tuesday. It is expected that the full amount will reach taxpayers’ accounts within 24 hours.
 

ACA

Member
Apr 9, 2017
187
0
16
#58
15 August 2017

Private sector money eludes infrastructure projects Economy| Neutral
During a visit to Washington in April this year, Finance Minister Ishaq Dar invited the Pakistani diaspora in the United States to invest in a development fund the government proposes to create for channelling private investment into the large commercially viable infrastructure projects in the country. Click here for more

Sindh govt promises lands on concessional rates Economy| Neutral
The country’s most populous city Karachi needs more than two million housing units to meet the residential demand of its population, provincial chief minister said on Monday, assuring the stakeholders of lands on concessional rates to build low-cost houses. Click here for more

Weekly inflation up 0.51 percent Economy| Neutral
Inflation for the week ended August 10 for the combined income groups increased 0.51 percent as compared to the previous week. Click here for more

SBP injects Rs1.358trln in OMO Economy| Neutral
The State Bank of Pakistan (SBP) on Friday injected Rs1.358 trillion in the money market for seven days through its open market operation Click here for more
 

ACA

Member
Apr 9, 2017
187
0
16
#59
Govt to release Rs120bn to ministries for development spending in Jul-Sep Economy| Positive
Government will disburse more than Rs120 billion to ministries and divisions under public sector development programme (PSDP) during the first three months of the current fiscal year of 2017/18, meeting around 30 percent of the annual allocation of Rs377.9 billion for them, officials said on Tuesday.. Click here for more

Service exports grew 1.7pc in 2016-17 Exports| Positive
The country’s service exports recorded a growth of 1.76 per cent year-on-year to $5.55 billion in 2016-17, the Pakistan Bureau of Statistics said on Tuesday. Click here for more
 

ACA

Member
Apr 9, 2017
187
0
16
#60
Country needs one mega dam every decade: Wapda
During a briefing after the visit, the chairman said that Wapda is committed for optimal development of water resources in Pakistan in view of rapid surge in water requirements in the country. It is pertinent to mention here that Nai Gaj Dam Project is being constructed on Gaj River, 65-Kilometer North-West of Dadu. The gross storage capacity of the project is 300,000 acre feet, while command area comprises of 28,800 acres. The progress on the project stands at about 48 percent.
http://nation.com.pk/business/16-Aug-2017/country-needs-one-mega-dam-every-decade-wapda

Govt mulls measures to control imports in revised STPF
Pakistan’s imports are continuously increasing from last one year or so, as it reached to alarming $57.85 billion in 13 months. The country’s trade deficit has also touched historic level of $32.58 billion during previous fiscal year 2016-17 due to the massive increase in imports and decline in exports
http://nation.com.pk/business/16-Aug-2017/govt-mulls-measures-to-control-imports-in-revised-stpf

Punjab approves two development schemes
The Punjab Provincial Development Working Party (PDWP) has approved two development schemes of development sectors with an estimated cost of Rs51.067
http://nation.com.pk/business/16-Aug-2017/punjab-approves-two-development-schemes

Political turmoil may harm economy: APBF
The All Pakistan Business Forum (APBF) has expressed concern over the possible negative economic impact of the current political conflict, if it prevails for an extended period of time. The association has urged the political forces of the nation to resolve their differences, to ensure peace, stability and economic growth in the country.
http://nation.com.pk/business/16-Aug-2017/political-turmoil-may-harm-economy-apbf

China's debt on a 'dangerous trajectory': IMF
China's massive debt is on a "dangerous" path, raising the risk of a sharp slowdown in growth, the IMF warned on Tuesday, urging Beijing to speed up structural reforms. The International Monetary Fund, which has repeatedly warned China over its ballooning debt, said in a new report that the world's second largest economy must turn toward a sustainable growth path.
http://nation.com.pk/business/16-Aug-2017/china-s-debt-on-a-dangerous-trajectory-imf

Petronas expects balance in oversupplied LNG market in 2023
Malaysian state energy company Petroliam Nasional Berhad [PETR.UL] expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said on Tuesday. Rising LNG production over the last two years, mainly from Australia and the United States, has exceeded demand and depressed prices. Asian spot LNG prices LNG-AS are now down by around 70 percent from early 2014.
http://nation.com.pk/business/15-Au...ts-balance-in-oversupplied-lng-market-in-2023