Current account registered a deficit of $156 million in March against a surplus of $167 million in the previous month. Had the CSF money not flown in February, CAD would have matched to Marchs. The overall nine month (Jul-Mar) deficit stood at $2.2 billion (1.2% of GDP) as compared to $1.3 billion (0.71% of GDP) in the corresponding period last year.
The overall performance of Kot Addu Power Company Limited (KAPCO) during 9MFY14 was largely affected by the repair and gas turbine overhaul in 1HFY14, and particularly during the second quarter of FY14. Thus, the decline in the earnings of this IPP was mainly due to lower availability of the plant capacity during 9MFY14 vis-à-vis 9MFY13.
Tri-Pack Films Limited (TRIPF), the market leader for packaging films, posted a splendid top line growth in the first quarter this year. But the company’s dwindling bottom line suggests that the company hasn’t been able to sustain that gain.
Raising $2 billion and having a commitment of $7 billion from international bond market with a lions share from the US domestic investors is a job well done by Dar and team! Though the rates were too high and analysts are susceptible about the utility of the money raised, it has defined the appetite of global bond markets for Pakistan. In a nutshell, its a confidence booster.
Its a healthy sign that earnings of the exploration and production sector are being driven by production flows and not just rupee depreciation and subsequent increase in prices. Like others, Pakistan Oilfields Limited (POL), the third largest E&P firm in the country, has been witnessing increased production flows. The tilt has been towards oil production, and why shouldn it be? Favourable oil price and production prospects amid dwindling gas flows are enough reasons for E&P companies to focus more on oil flows.