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Earlier this week, Finance Minister Ishaq Dar underscored the need for creating a Charter of Economy. “As we have Charter of Democracy, we should have a Charter of Economy for continuity and consistency of economic policies,” the minister reportedly said.
Censure the bankers all you want for laying low on the private sector’s credit needs. But also appreciate them for making it easy to bank these days. Electronic banking – or e-banking – channels witnessed massive growth in both volume and value in FY14, as per a recently-released central bank report. (The scope of this piece is consumer transactions, exclusive of banking sector’s institutional transactions.)
Times are getting finer for pharmaceutical sector in Pakistan at least in terms of profitability. And the latest financial performance bear testament to that. Glaxo, Abbott and Sanofi, representing 80 percent of pharmaceutical sector’s market capitalization can be used as a proxy to analyze the performance of this sector during nine months ended September 2014.
The global economy is going through a fundamental change as commodity prices, led by oil, are on a downhill journey. The trend is attributed to enhanced supply of hydrocarbons in the US and consistent economic slowdown in the EU while China's high-growth era is converging to normalcy. Global oil prices are down by around 25 percent from their peak in two months and they may come down further.
The government should be credited that it has not been sitting idle when it comes to tackling the energy crisis. The Prime Ministers recent visit to China with the energy team complements the efforts the government intends to put in. And the emphasis so far has been on getting more power in the system. More plants, hydel, coal, furnace oil and whatever fuel type it may be.
"Let China sleep, for when she awakens she will shake the world," so goes Napoleons famous saying. China has woken up, and Pakistan, one of its many neighbors can feel it. In fact, the whole of South Asia can sense the rise of a giant whose projection of economic power is fast becoming a means to further its security interests in the region and beyond.
High telecom taxes and myriad operator fees pinch the users every time they get a recharge. This column has highlighted the issue from various angles before. Now GSMA - the global representative body of mobile operators and the like - has recently come out with a report that marked Pakistan among the markets with the highest tax burden on telecom usage.


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln