With numerous twists and turns in the macroeconomic outlook, CY13 wasn an easy year for the banking sector. The cumulative performance of the five leading banks of the industry (MCB, HBL, NBP, UBL and ABL) speaks volume of that observation.
CY12 was a bad year for Shell Pakistan (SPL). But a glance at the companys latest financial performance for CY13 shows good improvement. The rebound in the earnings of oil marketing company has a lot to do with the firms efforts to increase market share and operational efficiencies.
Tussles between Ogra and the Ministry of Petroleum and Natural Resources are not new. And the recent issue regarding freight margin on petroleum products has added to the racket. The decision by the government and the ministry to reopen some six oil depots that were previously shut down has once again flared up what seems to be a conflict of interests.