Last update: Thu, 29 Sep 2016 01pm

BR Research: All


Fiscal â??16 was one of the worst years in the history of Pakistanâ??s tractor industry, and itâ??s being reflected in Millat Tractors Limitedâ??s full-year financials; the companyâ??s top line dropped 26 percent over last year, while the bottom line was down by 27 percent.
There has been much hue and cry over the removal of input tax adjustment by the Federal Board of Revenue in the Finance Act 2016. Before the amendment, a person or entity was allowed to claim sales tax that was paid under the provincial sales tax laws on services.
There is an old Wall Street saying: "Bulls make money, bears make money and pigs get slaughtered" Eid holidays are almost upon us and the stock market seems to have found another gear. Traded volume in the market on Thursday surged passed 550 million, whereas the average turnover has been around 200 million shares over the past year.
Byco Petroleum has had a rough time with profits; FY15 was again a challenging year for the oil company as it suffered at the expense of low oil prices despite a 49 percent year-on-year increase in sales volumes, However, the firm was able to take the earnings out of the red zone, posting a minimal profit after tax of Rs72 million in FY15.
Yesterday was the 50th International Literacy Day, being celebrated under this year's banner of 'Reading the Past, Writing the Future.' Fifty years ago today, UNESCO marked September 08 as a day to "actively mobilize the international community and to promote literacy as an instrument to empower individuals, communities, and societies," reads the UNESCO website. Following up on last year's column (and hopefully, in forming a tradition), BR Research would once again like to take this opportunity to have a dialogue on the state of education in Pakistan (credit to Alif Ailaan for all figures, unless elsewhere specified).
The worse menace of power circular debt still haunts the economy. Back in 2012, the country was not producing from a few power plants to manage the losses in the power sector. The inter-disco tariff subsidy peaked in FY12 at Rs457 billion (2.3% of GDP). That was despite the fact that half of the demand was shed by system, while at least potential a quarter was not used to be produced.
In the last few years, latest ICTs have been making their way to Pakistan. Data show that an increasing number of Pakistanis are subscribing to 3G and 4G networks. But its still a long way to go until the fruits of connectivity reach the faraway folks in the country. The organisation mandated to lead the process of digital inclusion of un-served and under-served areas has a lot on its plate.