Pakistan Bureau of Statistics (PBS) data for the first seven months of FY15 showed a decline in country's oil import bill by more than 14 percent year-on-year. However this has nothing to do with the shortage of petroleum products created earlier in January; most of the decline came from the falling petroleum prices in the international arena.
The hard work of non-life insurers is paying off in the shape of better claims management, strengthened underwriting profits and intensified investment income - the fundamental ingredients to a strong bottom line for any insurer and so a healthy profitability growth was a fair payback in CY14.
The second-largest tobacco company in Pakistan by market share, Philip Morris has been struggling to find a solid footing lately. Last Friday, the company announced disastrous full-year results for 2014.
Ever since Shaukat Azizs tenure, economic managers at home are in a groovy kind of love with sticky exchange rates. They have fallen into Dutch Disease - in the last decade when all of a sudden foreign flows poured in, in the form of aid and investments; the exchange rate started to appreciate. Imports were becoming cheaper and exports suffered in the process.
The Pakistan Auto Show 2015 kicked off on Friday amid much fanfare and coverage from the media. Besides throngs of exhibitors, foreign delegates and eager observers, the countrys President also graced the occasion.
The quest for borrowing continues afresh. With interest rates, now on the lower side, you would not expect government to accept bids for treasury bills considering that it had not shied away from accepting PIBs at nearly 13 percent, not so long ago. The government is aiming to fetch another Rs1.37 trillion in lieu of treasury bills alone in the three months leading to May 2015.
There is an old Pashtun curse: may you live to become a taxpayer. It comes from centuries before the British adventured into Afghanistan and lost their teeth - almost the whole 32 of them. Somehow, avoiding this curse has become the hallmark of Pakistani society. Perhaps it was those successive invasions from the north-western regions in the pre-colonial times that sowed the seeds of tax evasion deep into the Pakistani soil.