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Dangerously caught in the circular debt mesh, the payables and receivables of the largest state-owned OMC continue to present a dreary picture of its cash position. However, the results of the company published on KSE before Eid show a rebound in profitability for the Company compared to FY12.
It seems like the stellar performance of the cement sector in FY12 is being carried along into the new fiscal year. At least that is what the industry dynamics and results of major companies in the sector allude towards.
If putting up with email spamming wasn annoying enough, Pakistanis have also had to endure a rising incidence of SMS spamming in recent years. Thanks to cheap SMS bundles and near-ubiquitous cellular connectivity, SMS traffic has increased manifold, and with it the spamming problem.
A very few commercial banks in Pakistan today have an Advance to Deposit Ratio (ADR) in excess of 50 percent. And the National Bank of Pakistan is amongst the chosen few, doing what banks are supposed to do. NBPs ADR rose remarkably from 57 percent as at December 31, 2011 to a reasonably high 66 percent as at September 30, 2011 - this comes at a time when its peers are merrily parking their assets in government papers.
The pre-auction target had been set at Rs30 billion, against which the central bank received bids worth Rs71.284 billion. However closer scrutiny reveals a persistent skew in favour of shorter tenure government paper.
DG Khan Cement Company Limited declared its 1QFY13 results yesterday, showing a terrific, 3.5 times boost in its profitability on a year-on-year basis. The phenomenal performance revealed at the beginning of FY13 is much in line with the rising trend established over FY12.
These are challenging days for ICI Pakistan. In the same year as the demerger of the paints segment from the company, it also saw margins dipping on a year-on-year basis, owing to lower margins in its leading sectors polyester and soda ash.


Index Closing Chg%
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln