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Looking at the current state of Pakistan's economy one gets a strange sense of déjà vu - a flashback to the 1960s.
At the tailpiece of one of our columns last year, we argued that the government should have the good sense of releasing provincial inflation with their full details, so at least the provincial governments and the citizens at large know what exactly is hitting them (See: Are donors driving inflation in Pakistan?, April 8, 2014). Turns out, we aren't the only ones thinking that way.
The 10-year old HUM Network has grown by leaps and bound. Its stock price has been rallying as if there is no tomorrow. No wonder then its the most wished-for stock on local bourse. Its robust financial performance has also continued to cement investors likeliness. Recall that last two years have been very impressive for the company with its profitability boasting a growth of 98 percent and 53 percent in FY13 and FY14, respectively.
The key feature of independent power producers performance in 1HFY15 is the decline in fuel savings due to falling crude oil prices. Fuel savings are a function of improved thermal efficiency, higher utilization and higher furnace oil prices. So when there is a sharp decline in one (such as the sharp decline in international crude oil prices of late), these savings take a plunge.
Pakistans top packaged foods manufacturer ended CY14 on a high note. Nestle Pakistan (KSE: NESTLE) enjoyed stellar bottom line expansion in the year gone by. Nearly Rs8 billion in corporate profits is surely a treat for the corporate as well as its shareholders.
When it comes to proficient fund management, National Investment Trust Limited (NITL) - the mutual fund industry tycoon - certainly passes the test with flying colours. Its success is penned down all over financial statements and its performance during 1HFY15 has further reinforced the sentiment.
In yesterday's piece on CPI rebasing, this column flagged the urban bias that exists in the measurement of inflation in Pakistan. In today's coverage, we will shed light on some of the items that need to be removed or included in the basket of goods & services tracked for the purpose of measuring inflation.


Index Closing Chg%
Arrow DJIA 18,288.63 0.86
Arrow Nasdaq 5,008.10 0.90
Arrow S&P 2,117.39 0.61
Arrow FTSE 6,940.64 0.09
Arrow DAX 11,410.36 0.08
Arrow CAC-40 4,917.32 0.69
Arrow Nikkei 18,826.88 0.15
Arrow H.Seng 24,887.44 0.15
Arrow Sensex 29,459.14 0.33

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln