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The menace of illegal gateways and exchanges has beaten the 14 local LDI operators black and blue over the years. These service providers are mandated to pay part of their proceeds from each international call in the form of Access Promotion Charge (APC) to the Universal Service Fund (USF), which adds to the rates they are able to offer customers. On the other hand, grey traffickers are able to undercut legitimate businesses simply by circumventing the governments share.
Oil prices surged as hurricane Isaac gained traction in the Gulf of Mexico. Some experts even warned of disasters greater than those imagined: stirring up oil from the legendary BP oil spill. But then the prices slipped as the supplies climbed and the Isaac threat faded.
The balance sheet shrunk by seven percent despite a healthy growth in deposits. A 12.5 percent growth in deposits in the past six months added flying colours to the line managers and depicts consumers confidence in the financial strength of the bank.
The half yearly financial result of ICI Pakistan Limited for the period ending June 30, 2012 was released yesterday. An improved second quarter performance could do little to brighten the 1HCY12 results as the Companys profit for the period stood at Rs462.2 million compared to Rs972.5 millions same period last year.
The national flag carrier is drenched in red, as expected. The financial performance of Pakistan International Airlines for the half year ended June 30, 2012 is not pleasant at all. The airline has resided in the red zone for seven years consecutively since CY05, and from the looks of it, CY12 will be no different.
Faysal Bank Limited, in sharp contrast to the industry trend, posted a massive 36 percent year-on-year decline in net profits for the half year ended June 30, 2012. The decline came despite a sizeable increase of 14 percent in deposits over December 2011, which is significantly higher than the industrys performance on advances.
The dearth of foreign investment in Pakistan has become a serious threat to Pakistans economy as the investment as a percentage of GDP stands at its lowest in the countrys history at 12.5 percent. There was some good news on this front on Monday when the government announced the much awaited Petroleum Policy 2012, providing major incentives for investment in Pakistans oil and gas exploration and production industry.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln