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Oil and Gas Development Company may have witnessed a drop in net profits in FY13. But the announcement of its annual financial results yesterday, shows that the E&P giant clearly stands at a point where its growth engines are roaring.
Picking up from this columns yesterdays commentary on Competition Commission of Pakistans policy notes, here is something that the Commission might want to inquire into: the SRO culture. An abbreviation for Statutory Regulatory Order, the SRO is simply an instrument of governance but its excessive and often unjustified usage is rather alarming.
Whether they were tuning in to learn from religious experts, ogle at the extensive sets or savour the delights of gift giveaways; a record number of Pakistanis tuned into domestic TV channels during this Ramzan.
Currently there is a lot of optimism in the textile sector with many analysts pinpointing the growth potential of the sector. Driven by positivity at various fronts like revival of demand from the EU and the US and improved power and gas supply situation at home, textile exports from Pakistan showed a good front, growing by 5.9 percent year-on-year during the last financial year.
Monetary aggregates in FY13 mimicked the previous year with a little more haze in the picture. The overall money supply growth inched up to 15.9 percent from 14.1 percent in the preceding year. With private credit in the red and government borrowing booming, demand-pull inflation is inevitable and the signs are already visible given up tick in core inflation in July.
It pays to have a watch dog; sooner or later it bites the bugger, secures the place and makes its own reputation.
The more the merrier seems to be the mantra in branchless banking. The entry of new players is revving up the sectors momentum. According to the latest SBP newsletter, BB transactions had grown 16 percent in volume and 13 percent in value during the Jan-Mar quarter.

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln