Author: Anum Qudsia Siddiqui

Remittances decline by 19% Y/Y to USD 1,873mn in May’20

State Bank of Pakistan released the remittance numbers for Pakistan yesterday. Inbound Remittances registered a 5% M/M increase in May’20. On the yearly basis, remittances dipped by 19% from USD 2,302mn in May’19 to USD 1,873mn in May’20. In the 11MFY20 period, remittances increased by 3% Y/Y from USD 20.1bn to USD 20.7bn. In terms… Continue reading Remittances decline by 19% Y/Y to USD 1,873mn in May’20

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Pioneer Cement (PIOC) – Timely expansion to capitalize recovering sector dynamics

We initiate our coverage of Pioneer Cement (PIOC) with a Jun21 TP of PKR 87/sh, offering an upside 34% based on its last close of 64/sh. Our optimism towards the stock’s performance is underpinned upon: 1) recovering sector dynamics with anticipation of a recovery in demand, 2) timely capacity expansion to benefit from the anticipated… Continue reading Pioneer Cement (PIOC) – Timely expansion to capitalize recovering sector dynamics

Kohat Cement (KOHC) – Offers one of the best valuations in the sector

We initiate our coverage of Kohat Cement (KOHC) with a Jun21 Target Price of PKR 189/sh, offering an upside 31%. Our preference for the stock is based on: 1) improving cement sector dynamics likely materializing in demand recovery, 2) timely expansion to capitalize on improving sector dynamics, 3) lower global energy prices to ease production… Continue reading Kohat Cement (KOHC) – Offers one of the best valuations in the sector

Daily news: 12th June 2020

Good Morning Pakistan Tehreek-e-Insaf government is going to present its second budget for the fiscal year 2020-21, with an estimated outlay of around Rs7.5 trillion, on June 12 (Friday). The government has officially acknowledged that coronavirus has inflicted a loss of Rs3 trillion on the economy so far with 3 percent to 3.5 percent hit… Continue reading Daily news: 12th June 2020

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Daily news: 11th-June-2020

Good Morning The Asian Development Bank (ADB) has approved a $500 million loan to help the Government of Pakistan deliver social protection programmes to the poor and vulnerable, expand health sector capabilities, and deliver a pro-poor fiscal stimulus to boost growth and create jobs as the country fights the coronavirus pandemic. Pakistan became the latest… Continue reading Daily news: 11th-June-2020

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Daily news:10th June 2020

Good Morning The federal government is planning to set Rs4.95 trillion as revenue collection target for the Federal Board of Revenue (FBR) for 2020-2021. Sources told Business Recorder that the revenue collection target of the FBR was projected at Rs5.101 trillion for 2020-2021 against pre-Covid19 projection of Rs6.138 trillion for the next fiscal year. While projecting… Continue reading Daily news:10th June 2020

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