There have been conflicting claims recently about the governments capability to end the power crisis by 2018. However, in an event organised by the Corporate Pakistan Group in association with Bank Al Falah "Pakistan's Power Sector: Where is it going?" held last week in Lahore, Secretary Water and Power Younus Dagha once again assured of the government's resolve to end the crisis by the end of 2018.
GWLC is rising to prominence. A mid-tier cement manufacturer with a market share of 4.6 percent per its production capacity of 2.1 million tons, Gharibwal reported a 110 percent growth in its profits in FY16 clocking at Rs2.69 billion against FY15s Rs1.28 billion, despite a 25 percent bump in taxes.
Shell Pakistan Limiteds (PSX: SPL) 1HCY16 earnings touted an over four times increase with the announcement of its recent financial performance. Not only that, the earnings for 1HCY16 are higher than the firms annual earnings since 2010.
The new fiscal year has started at a rather slow pace as many economic indicators are not justifying the euphoria. A good proxy to growth is cement and auto sales, both of which were sluggish in July 2016. The home remittances declined substantially in the first month while the dismal performance of export sectors continued. And bears dominated both the stock and real estate markets.
Last week, this column shed light on rising palm oil imports (Read: "Palm oil imports up, but why?" published August 08, 2016) and the reasons behind it. This week, our attention turns towards the other half of the edible oil market - soft oils.
Nestle Pakistan Limited (NESTLE), the nations' biggest FMCG company has once again given a brilliant performance to mark the end of the first half of 2016. As per the notice to PSX on Friday, the company has reported net earnings of Rs 6.42 billion, an improvement of 3 percent year-on-year during the six-month period. This was due to the higher second-quarter net income of 18 percent, which diluted the fall of the first quarter that Nestle faced earlier this year in March.