With the media abuzz, it looks like the government is bustling with bringing LNG to the shore. Recent reports suggest that the government is all set to strike a deal for the import of Liquefied Natural Gas (LNG), with a delegation from Qatar arriving in the first week of January 2015.
Metals and mining is a sector not followed by many equity suitors at the KSE. Yet, those who follow must have been bowled over by the recent rally in the stock price of International Industries (IIL). Since September 2014, the firms stock has skyrocketed by 23 percent, putting the nominal gain of 8 percent by KSE-100 to shame.
After witnessing a phenomenal growth in August this year, the large-scale manufacturing (LSM) numbers have begun to taper off.
According to data released by Pakistan Bureau of Statistics (PBS), August 2014 saw LSM jump by 5.27 percent year-on-year. The last time August had seen such a huge growth was in 2011 when it grew 5.79 percent year-on-year.
Pakistan & Indonesia: similar roots; different future
Why has Pakistans growth lagged behind that of Indonesia, even though the latter was exposed to recurrent bouts of state interventionism, and suffered one of the deepest crises in world economic history in the years 1997-98? That is one of the themes under the lens in the World Banks latest Directions in Development report.
Even a 30 bps cut in yields from the previous PIB auction was not enough to keep investors interested. The latest PIB auction helped the government to fetch another Rs150 billion in the longer tenure papers, exceeding Rs50 billion target by over three times. The previous auction too, had attracted similar interest, where accepted bids tripled the target of Rs50 billion.
When the column last talked about PPL stock, the E&P firm had just received an overwhelming response for its secondary public offering in June 2014. Market sources were eyeing a rise in stock price with a fairly decent float addition in the immediate future. With optimistic guesstimates and strong operational performance and history, PPL was seen to rock at the bourses in the coming couple of months.
With petrol prices going down rapidly, one may be fooled to think the CNG consumers would go back to petrol. No they would not. Not when the price differential in consumption terms is still 45 percent in favour of using CNG. Some say there are marginal users, too, who would pay an extra 40 percent to save troubles of long queues. But this is not what the numbers tell and this is not what you see at CNG stations either.