▪ Data from the Oil Companies Advisory Council (OCAC) showed that Oil MarketingCompanies collectively sold 1.07 MN tons of oil during Apr’20, higher by 4.6% M/M,while lower by 35.6% Y/Y. The sequential increase was driven by a 41.8% M/M increasein HSD offtake in the industry; effects of which were watered down by a 20% M/Mdecline… Continue reading OMC offtake improves during Apr’20; HSD shows promise
Author: Anum Qudsia Siddiqui
Bank Alfalah Limited (BAFL) 1Q2020 conference call takeaways
Bank Alfalah Limited (BAFL) held a conference call for Analysts and Investors today. Themanagement reviewed 1Q2020 results and gave guidance regarding the future outlookof the bank. Key highlights of the conference call were: Provisioning expense surged 2.4xY/Y to PkR1.5bn largely driven by full upfrontimpairment charge (100% of total) taken on the equity portfolio despite… Continue reading Bank Alfalah Limited (BAFL) 1Q2020 conference call takeaways
Daily news: 06th May 2020
Good Morning The country’s exports on month-on-month (MoM) basis have witnessed a 47.24 percent decline, from $1.814 billion to $957 million, during April 2020 against March 2020, the Pakistan Bureau of Statistic (PBS) said. Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said that the ministry is aggressively working on making… Continue reading Daily news: 06th May 2020
Meezan Bank Limited (MEBL) 1Q2020 Result-EPS at PkR4.28/sh-beats market consensus
Meezan Bank Limited (MEBL) reported 4Q2019 result earlier today postingProfit after Tax (PAT) of PkR5.5bn or EPS of PkR4.28/sh, up 97%Y/Y and 27%Q/Q. As expected MEBL skipped cash dividend for March quarter. The result is above market consensus of PkR2.84/sh and KASB’s estimate of PkR3.1/sh by 51% and 38% respectively. We expect the stock… Continue reading Meezan Bank Limited (MEBL) 1Q2020 Result-EPS at PkR4.28/sh-beats market consensus
April’s Petrol & Diesel sales decline 35% & 16% YoY , respectively.
Not a bad start given the entire country was locked down. However, partial resumption of essential & export industries kept the sales ticking. What’s intriguing is the Rural disconnect seemingly functioning near to normal. Either the precautions were not taken or the masses did not strictly follow the instructions. The return of Wheat harvesting season… Continue reading April’s Petrol & Diesel sales decline 35% & 16% YoY , respectively.
Power Sector : Government revisits agreed profitability terms
In 2021, Rs 550bn out of Rs 1,000bn capacity charges stem from government entities: CPEC Rs 180bn, old-WAPDA Rs 110bn, new-WAPDA Rs 170bn & LNG projects Rs 100bn. By 2025, these would be Rs 850bn out of a colossal Rs 1,700bn as the nuclear power’s 6.6c charges kick in. These are shockingly high numbers in… Continue reading Power Sector : Government revisits agreed profitability terms
Daily News: 5th-May-2020
Good Morning The Prime Minister, Imran Khan, said on Monday that lockdown would be further eased gradually to provide livelihood to the low-income group and daily wagers. While addressing the tiger force (volunteers), the prime minister said that “we have to gradually open the lockdown because people have been badly affected by it and have… Continue reading Daily News: 5th-May-2020
Daily News: 04th May 2020
Good Morning The prime minister’s think tank at a meeting on Sunday advised the government to consider reducing tax rates and shifting focus of federal and provincial development programmes to high-impact areas while keeping a close eye on an effective rescue and relief campaign to protect vulnerable segments of society from the serious fallout triggered… Continue reading Daily News: 04th May 2020
April’s Tax Collections fall 17% YoY. Surely, not the worst!
April was a month of a universal lock-down. The essential services – with minimum staff – and strategically important local and export industries were allowed to operate. That too was a bare minimum. Some – including myself – presumed a Tax fall of 40-50% YoY. A 17%, therefore, doesn’t reflect a total collapse, thankfully. The… Continue reading April’s Tax Collections fall 17% YoY. Surely, not the worst!
Hafeez Shaikh & Reza Baqir’s CPR to the economy!
Under the pre-Covid IMF rehab, it was a non-flexible approach to monetary & fiscal tightening. The tables have turned. For the hawks as well. The Hafeez-Reza duo have re-written their prescriptions. Reza Baqir loosened the discount rate by 425 bps from a contracting 13.25% to an accommodating 9%. Host of other measures are announced to… Continue reading Hafeez Shaikh & Reza Baqir’s CPR to the economy!
