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With each passing month credit to private sector is hitting new monthly lows. Recall that loans to private sector businesses in October 2014 stood at Rs29 billion (on net basis), which was one of the lowest monthly off take in any October in the last nine years.
With Vadiyya Khalil’s appointment as the new Chairperson of the Competition Commission of Pakistan (CCP), the government has finally addressed the long pending issue of leaving one of its key institutions rudderless, and therefore prevented it from the risk of decay.
After years of disappointment, this year the sun is setting on the local telecom industry on a good note. In many ways, 2014 largely lived up to the hope industry leaders had been attaching to it.
Pakistan’s economy has been doing better, yet it is surely not the shining star in the vicinity. World Bank’s latest report labelled ““International Debt Statistics 2015” manifests the same impression.
Another month, another drop in urea sales. Nine out of eleven months in the CY14 so far have reported year-on-year decline in urea off-take, and the reasons are hard to find. Some believe the floods have hampered farmers’ buying power, which is showing in their nutrient application, others are unsure of the floods loss quantum.
In its most recent staff report, the IMF has endorsed that the country’s macroeconomic fundamentals are on the mend. It has also approved waivers of missing quantitative targets (three in September and two in June review). Delays in privatization proceeds and other external financing were prime reasons for not meeting Net International Reserves (NIR) and that has tilted the fiscal financing pressure on to domestic bank sources. The same also explains the breach of the ceiling of net domestic assets and slippage in net government borrowing from the central bank.
International oil prices have dropped sharply enough to earn a spot in the cluttered news bulletins and fiery political speeches of opposition leaders. But the concurrent drop in petroleum group imports has not even managed a dent on the country’s import bill.


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln