Pakistan sports goods industry is once again in the limelight the proud manufacturers of Brazuca football for Adidas, making its way as the official World Cup football. This feat serves to cement the notion that football producers form the backbone of the country’s sports goods industry.
In a study “A road map for optimising Pakistan’s GSP plus status” Pakistan Business Council (PBC) estimates that due to the GSP+ status, the maximum imports by the EU from Pakistan in 2016 will reach approximately $7.7 billion, that is, an increase of $1 billion over a three-year period after fulfilling all criteria under the GSP+ scheme.
Social sector development is mainly a provincial domain post-Eighteenth Amendment. Yet the provincial budgets for FY15 prominently feature large Infrastructure Development (ID) allocations, quite in step with the recent past. Some of the earmarks are so large that they seem misplaced. But, in the context of large infrastructure gaps across the country and a limited federal purse to finance them, one cannot condemn provincial ID spending outright.
Islamic bankers and treasurers of Islamic financial institutions must be dreaming of a good time since the activity in the Islamic bond market has started picking up after a long pause. Following the successful issuance of Ijara Sukuk by Government of Pakistan, the management of K-Electric is gearing up for the issuance of Ijara Sukuk worth Rs22 billion (including green-shoe option of Rs2 billion). The issue represents nearly 13 percent of companys existing loan book. To recall, the previous Sukuk issuance of Rs6 billion by K-Electric in February 2014 was well-received by investors.
The positive post-budget outlook for the overall auto sector seems heavily influenced by bullish tractor sale expectations. A recent report by AKD Securities Limited projected increased tractor sales owing to the reduction of GST on tractors down to 10 percent. Further, no government in Pakistan misses the agriculture card, and sales are also likely to increase if agro-credit disbursements are realised over the year.
This is how Pakistan is viewed by international institutions: the recently released Fragile States Index (FSI) by the Foreign Policy magazine and The Fund for Peace has placed the country in the top-ten most fragile states around the world.
June 28, 2013: Rings a bell? What was mistakenly thought to be the death anniversary of circular debt actually became its rebirth. In only two days, it will be one whole year to the elimination of Rs480 billion of circular debt by the government. And despite major energy debt payments last year and the ensuing measures like power tariff hikes for domestic, industrial and commercial consumers, the circular debt has resurfaced once again to an alarming level.