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India’s budget by the new BJP government has a total outlay of $299 billion or about the size of Pakistan’s formal economy (GDP). Much like PML-N’s last year budget, the Indian budget was prepared in haste within 45 days of new government formation and may have elements that might be politically tough to implement. Hence, their promises should be taken at face value, since they haven’t had time to perform or implement anything yet.
With full year remittance numbers out, Finance Minister Ishaq Dar must be savoring a moment of forex comfort. He may also take some solace in the fact that the sharp rupee appreciation in the third quarter and ensuing stability hasn’t had a negative impact on remitting propensity so far.
One can imagine that the budget announced for FY15 has been something to look forward to for local automobile assemblers. This column had reflected the same when the budget was announced earlier last month (An auto-friendly budget, dated June 10, 2014) and the recently released annual PAMA numbers suggest why the anticipation was due.
Take a good look at the chart. Had it been Pakistan Petroleum Limited or Oil and Gas Development Company, it wouldn be as surprising in the backdrop of the privatisation stories, but it is rather the oft ignored Mari Petroleum Company Limited (MPCL) that has stolen the spotlight this time.
The central banks third quarterly report for FY14 is out, and their headline is that Pakistans economy "appears" to have turned a corner during the third quarter of FY14, and sentiments about the economy "seem" to have improved. Do these inverted commas reflect typical central bankers speech, or is it that the SBP is sitting on a fence.
For years weve been told, drinking milk is good for you, which we did or, insolently, didn , end of story. But milk consumption is on the rise. According to The Global UHT Milk Market report by Transparency Market Research, the global Ultra High Temperature (UHT) milk market was assessed at $60.8 billion in 2012. It is projected to expand at a CAGR of 12.8 percent from 2013 to 2019, to achieve an estimated value of $137.7 billion in 2019.
Pakistan remains a lucrative market for start-ups, according to the recently launched World Start-ups Report (WSR). In an attempt to promote local start-ups, the WSR documents the worlds start-up ecosystem, detailing on the local culture, key players, challenges and opportunities.


Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln