MCB has recently released the second installment of its bimonthly Purchasing Manager Index (PMI). A good gauge for the manufacturing sector activity, the PMI for March showed a healthy reading, albeit a slightly lower than in January, the first time this exercise took place. M. Ramzan, MCBs Group Head, Treasury and Forex told BR Research that manufacturing activity has been almost the same and positive as January.
Error! Not a valid link. Khawaja Asif is in the news these days, not for any heroics for the ministry he is looking after. Had it not been for these headlines, he surely would have made the headlines for a much more important issue in the country. The Water and Power Minster is smarter than a few of his predecessors, not least the media-delight, now ex-Prime Minister, Raja Pervaiz--in the sense that he does not often make tall claims.
No doubt, renewable energy in Pakistan is still in its infancy. But, as per a latest Global Wind Energy Council (GWEC) report, the countrys total annual installed wind energy capacity almost doubled to 106 megawatt in 2013.
The FY14 remittance momentum continues to amaze. Latest SBP data show that workers’ remittances reached $11.58 billion in the Jul-Mar period this fiscal year. That perks up the year-on-year growth to nearly 12 percent. That’s an additional $1.22 billion over same period of last year. The authorities’ and the financial institutions’ efforts in increasing the official channel usage are hereby appreciated.
American Life Insurance Company (ALICO) that was up for grabs since 2012 has splashed down in the hands of IGI Insurance. IGI Insurance has acquired a controlling stake of 69.67 percent of the total outstanding shares of the company, translating into 34.84 million shares.
Persistent increment in furnace oil consumption and galloping motor gasoline off-take explains what has been going on in the petroleum product market. The two have been acting as the drivers of consumption in every subsequent quarter of FY14 so far. And, if the 9M FY14 sales and import figure are anything to judge by, the usage of the two mentioned petroleum products will continue to be the key in the petroleum consumption growth in FY14.