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Many analysts still maintain Sell on the scrip for Engro Foods (KSE: EFOODS), which has had a difficult year so far. EFOODS latest financials show corrosion in profit margins for the nine months ended September 30, 2014.
Despite all the challenges, encompassing difficult law and order situation and continuing energy crisis, Nestle Pakistan (KSE: NESTLE) continues to enjoy the fun ride, with sales proceeds enjoying a significant increase of 16.4 percent, trickling to remarkable accretion in its bottomline of 43 percent in 9MCY14.
Urea off-take for the Kharif season ended September slid by around 5 percent year-on-year. That for DAP went down steeper, at 9 percent year-on-year. It could well be the floods impact in the latter half of the month, but experts BR Research talked to, believe it is too early for the floods to have impacted the off-take.
Energy shortfall could not be more evident in Pakistan, and adding more power generation units is one of Pakistan’s biggest needs. The most economical and time efficient solution is coal-based generation despite its environmental costs. Both the PML-N and PTI agree on this issue and the proposed solutions. However, even after one and a half year since the new government came to power, there hasn’t been any conclusion on the modalities of coal power generation.
Foreign direct investment inflows slumped by 26 percent year-on-year in the quarter ending September 2014. And the critics are obviously having a ball. The drop to $169 million in the first quarter is indeed a partly sum – at a time when cross border emerging market investment flows and emerging to developing market flows are about their highest levels since the recession of 2007.
The development of social entrepreneurship since the last decade has steered social innovation and initiated sustainable and scalable solutions in numerous parts of the developing world. Social enterprise, a relatively alien notion in Pakistan, is quickly getting a foothold in many areas of development.
In August 2014, workers remittance had fallen about 20 percent month-on-month. However, BR Research's commentary on that was still headlined: "Remittances are alright". Well, this column is pleased to report that remittances are indeed alright, as September 2014 saw the highest-ever monthly inflow ($1.7 billion).

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln