To give credit where its due, FY14 saw the PML-N government giving credit where it was long overdue: the private sector. With government borrowing from the central bank and from commercial banks screeching to their lowest levels in recent memory, private sector credit off-take took off last year.
Pakistani SMEs may have multiple business issues, but finding buyers and sellers online shouldn be a big deal for them. After all internet is now available in all major cities and more and more people are taking to online communication. But a latest EIU-eBay report shows that SMEs need more than internet access and entrepreneurial flair to thrive in conducting cross-border online trade.
The news of Lafarge’s acquisition, which has made Bestway Cement the largest cement manufacturer in the country, has now given way to news of further expansion by competitors. Reportedly, DGKC, which was among the two short-listed parties for the acquisition, might reconsider expansion plans, this time in the Southern region.
In the wake of 2008 global credit crisis, the objectivity and independence of credit ratings remained the centre of debate among the government, regulator and market participants. In this regard, the Securities and Exchange Commission of Pakistan (SECP) recently made certain amendments to the credit rating companies’ rules, 1995.
Policymakers, take note! Pakistan’s human development ranking is not budging. In 2013, the country was again ranked at 146 among 187 nations on the Human Development Index (HDI), as shown in the UNDP’s latest Human Development Report.
Roads in the metropolis were all jam-packed after the Iftar. People were thronging the malls for shopping and restaurants for Iftar-cum-dinner. It looked as if no one was staying home in the whole city; everyone is out shopping or eating. Such has been the shopping and dining frenzy in the last few days of Ramazan. The situation didn’t betray any impression that food inflation runs high in this country.
There was a time when Pakistan’s economic observers didn’t need to look at the Trade In Services (TIS) figures. The number used to be too little to be really concerned about, whereas the economy’s structure was tilted more towards the commodity producing sectors.