Well mostly bitter, at least from the perspective of Pakistan Sugar Mills Association (PSMA). After accounting for total domestic consumption over the next six months, sugar is likely to be in a surplus of about 1.17 million tonnes. With that amount in surplus stock and a declining trend in sugar exports, sweetness may grow just a bit distasteful for the country.
Consumerism is on the rise in Pakistan, and everyone is trying to catch the bandwagon. The last few years have seen many companies set foot in consumer business; the examples of Engro Corporation and Fauji Group are still afresh in our minds. And now it is ICI Pakistan’s turn to test the grounds.
By the end of this month, the government would have finalised three important decisions that will affect the lives of 200 million plus this year, and the many years beyond. And in all these decisions, the word ‘consultative’ has or will likely feature as the most important highlight of the process. However, not all is what may seem.
Single-digit rates are not exciting enough anymore. Even with the rate cut view for the longer run maintained by the market, there were no takers for 12-month treasury bills in the latest MTB auction held on May 28, 2014. A look at the latest auction result makes the previous auction look like one from another world and another time.
According to Pakistan Tanneries Association, leather industry is the second biggest dollar earning sector after textiles in Pakistan. Well, we don’t know what kind of data are they watching, but according to latest trade numbers released by Pakistan Bureau of Statistics, leather has the third biggest share (4.5 percent) in the country’s total exports, after textile (54%) and rice (9%)-–a position that it shares with the chemical industry.
From zero to almost 693 million tonnes the rise in naphtha exports for 10M FY14 is phenomenal. However, this is not only due to improvement in the ongoing fiscal year, but mostly because of significantly low volumes during the previous year. In 10M FY13, the country’s export volumes of naphtha were zilch, while FY13 on the whole saw only 25 million tonnes of the same.