Domestic auto assemblers have little to complain about this year as just about all exogenous factors have played out in the sector’s favour in recent months. Even the companies that have not clocked in super sized sales growth have managed to post stellar returns for their shareholders. The financial year for Honda Atlas Cars (KSE: HCAR) has drawn to a close and even though the company’s car sales were stoic, it was able to churn out stellar profitability growth.
The FBR is finding it hard to meet even the revised revenue collection target as based on 13 percent growth achieved in 10 months, the deficit will remain around Rs120-130 billion from the revised target of Rs2690 billion. Sources reveal that sales tax growth suffered more, while direct taxes and enhanced withholding taxes provided some cushion.
The Sharif brothers fixation with building roads has taken on a new height. Last month, the younger Sharif, aka Khadim-e-Aala, announced building a road network across rural Punjab. On paper, more than 2,000 kilometers of carpeted road will be laid out, at an estimated cost of Rs150 billion over three years.
Appearance does matter when you sell something, but it becomes more important when you are Narendra Modi and selling on the behalf of 1.22 billion people. This is what Mr. Modi is doing since his historic trip to the United States. During the election campaign, Modi promised to make India a manufacturing hub and 'Make in India' initiative is the result of that same promise.
Pakistan aims to add another 10,000 MW to the grid by 2017. That is great news; barring the possibility that it may not be achieved. But then its not entirely bad news either; partly because Pakistan does not need all these megawatts so soon -not by 2017 anyway. Leaving the merits of adding more generation aside, there is little doubt that the best thing Pakistan could do is improve its energy efficiency.