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An independent monetary policy committee was finally formed through legislative process after amending the SBP act, 1956. This was a long awaited condition of the IMF and finally the committee is formed as an independent body. However, experts fear that the MPC is merely formed on papers and most of its members decisions one way or the other will be influenced by the Ministry of Finance.
Ever wondered why buying or building a property is increasingly getting out of hands - even for upper middle income groups. While lack of mortgage finance is one reason, the biggest reason is that real estate has increasingly become the parking lot for untaxed and/or black monies over the course of years.
The stock market sent Fauji Fertilizer Companys (FFC) shares down by nearly 3 percent yesterday, after the fertilizer giant announced its full year CY15 financial results. The 8 percent year-on-year decline in profits did not come as a surprise, but the investors are not generally attuned to FFCs profits going down. FFC continued with its rich history of high payout, taking the full year payout ratio to 90 percent.
With half the fiscal year gone, there still seems to be no turnaround imminent for the textile industry; total textile exports for the month of December were down over 11 percent year-on-year. Although there is an improvement over the previous month, be mindful that November was one of the worst months for the textile industry (Read: "Textile exports new low," Published on December 23, 2015).
Pakistan's housing market saw amicable environment in 2015, and a glimpse of the same was seen in the annual report of the country's leading property portal - Zameen.com. While the portal is undisputed leader in the country real estate market for buying and selling online, it has also been a source of primary data for the industry.
International Steel Limited (KSE:ISL) has revealed its financial results for the half-year ended 31 December, 2015 to display a strong surge in sales following capacity expansion in the previous quarter. In recent times, the companys top line has been hurt by cheaper imports from China; however it appears that an end to these troubles is in sight.
The Thal Industries Corporation Limited (TICL) has started the new financial year on a negative note. The Company's net sale has declined quite significantly by 34 percent year-over-year. The lack of top line growth has put ample pressure on the bottom line of the Company, which has come down to 93 percent year-on-year.