~100,000 people stranded in Middle East are coming home. A chunk of those are being laid off or have had serious pay cuts. The plunge in oil prices have compelled the rich Arab countries to cut development & their want of smart cities is rendering expats jobless. With very young population, Arab countries are belatedly… Continue reading Pakistan’s life-line being risked – Pardesis are coming!
Author: Anum Qudsia Siddiqui
Pakistan lobbies hard for debt-relief!
On March 17th 2020, when Pakisan had less than 500 cases Prime Minister Imran Khan appealed for debt relief. Either, Pakistan could see foresee collapse the economy or it was legitimate diplomatic play. Since then, the testing per day has gradually increased & expected to peak end May & June. Meanwhile, Pakistan has secured $1.4bn… Continue reading Pakistan lobbies hard for debt-relief!
Daily news:08th May 2020
Good Morning The government has decided to soften the lockdown further from Saturday in the second phase. However, closure of educational institutes has been extended by one and half months till July 15, and all board exams have been cancelled. The Oil and Gas Regulatory Authority (Ogra) on Thursday cut the prices of re-gasified liquefied natural… Continue reading Daily news:08th May 2020
Cash over bank deposits-Informal economy or knowledge deficit?
Pakistan’s hard holding cash accounts for 30% of the M2(currency in circulation+bank deposits) as of Apr’20. That is amongst the highest compared to other developing countries. People in Pakistan prefer to hold cash instead of keeping deposits in banks. One can infer multiple reasons for such high rate. From the top of the head, generally… Continue reading Cash over bank deposits-Informal economy or knowledge deficit?
Pakistan’s ScoreCard is out – Corona upended the past!
“Past performance is not a guarantee of future performance”. This is the disclaimer investment managers give in their recommendations. If there is any one who worries most about this is IMF. Corona virus has scrambled the textbook economics. The tax revenues are crumbling, central banks are firing shots & trade has collapsed. Increased sovereign debt… Continue reading Pakistan’s ScoreCard is out – Corona upended the past!
United Bank Limited (UBL): Management change
United Bank Limited (UBL) in its notice to PSX announced the appointment of Mr. Shazad G. Dada as its president and CEO with effect from July 1st, 2020 for a term of three years. Ms. Sima Kamil, the outgoing CEO and president of UBL, is completing her three year term on May 31st, 2020 and… Continue reading United Bank Limited (UBL): Management change
Daily news: 07th May 2020
Good Morning A budget deficit of 3.8 percent or Rs1,687 billion has been recorded during the first nine months of the current fiscal year, July-March 2019-2020, ahead of corona pandemic expenditure and ramifications of lockdown on the revenue and economy of the country. On Wednesday, the Finance Ministry uploaded consolidated fiscal operation for July-March2019-2020, revealing… Continue reading Daily news: 07th May 2020
KASB Ray of hope: End of the beginning
• The world is opening up – even UK – which is the worst hit in Europe will start easing the lockdown from Monday. More than 40,000 people have died in the UK due to COVID19 (more than 20,000 in the hospital – which is the officially tracked number). While, the death rate is coming… Continue reading KASB Ray of hope: End of the beginning
Energy is getting cheaper. Covid has shifted the business dynamics.
Fall in the oil prices is win for some, loss for many. Energy importing nations are eager to get back to close to normal so derive full benefits. So are energy intensive businesses. However, the demand is much below the survival rate. Many business are going insolvent, laying employees and dying for good. Pockets are… Continue reading Energy is getting cheaper. Covid has shifted the business dynamics.
Trade deficit worsens amid Corona lockdowns
Trade deficit for the month of April worsened by 42% M/M. Exports declined by 47% M/M and imports declined by 7% M/M in April’20. On yearly basis, exports registered a decline of 54% from $2,089mn in Apr’19 to $957mn in Apr’20. Imports shrinked by 34% Y/Y from $4,714mn in Apr’19 to $3,088mn in Apr’20. Worsening… Continue reading Trade deficit worsens amid Corona lockdowns
