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"Chase your dreams until you catch them...and then dream, catch, and dream again!"--Pakistani equity market seems to be following the same slogan.
The pro-business government is getting its due wrath from various political as well as economic circles; the argument goes that recent policies are biased in the favour of a few business hubs. Some term these policies as failing to be ‘market friendly’ which is creating doubts and suspicions in the public at large. All this is giving reasons to many political parties to campaign against the privatization plans charted down by the current regime.
It seems that healing the sick and bleeding Public Sector Enterprises (PSEs) is nowhere on the government’s agenda, even though the PSEs’ drag on the exchequer-–both in terms of bailouts and lost taxes-–are estimated as high as $5 billion per annum.
Benjamin Franklin once said: “No nation was ever ruined by trade, even seemingly the most disadvantageous.” As benefits of free trade have become more widely established over the years, practical impediments to unrestricted commerce have only become more complex.
For all the talk of Pak-Afghan brotherly relations touted by Pakistani businessmen and policymakers, actual trade relations somehow did not exactly reflect the same warmth in recent years. There is no doubt that total bilateral trade has been increasing from $0.83 billion in FY07 to more than $2 billion at present. But, the eyebrow raising factor is the two consecutive year-on-year decline in total trade, from $2.51 billion in FY11 to an estimated $2.38 billion in FY13.
Pakistans population is largely unbanked with four in five adults having no bank account. But, it seems that those who do have bank account are enjoying a variety of Alternate Distribution Channels (ADCs) for their banking needs.
Recall that fixed income funds have yielded an average return of nearly 8 percent (annualized) and KSE 100 index delivered an absolute return of 50 percent in CY13. With interest rates on the rising trend, and equity market continuing to perform well, the idea of investing in a mixed fund offering capital preservation with added flexibility to change the asset mix (up to 100% equity) in order to capture higher yields surely grabs attention.


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln