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Company News: Pakistan


Khalid S. Subhani is the President and Chief Executive Officer for Engro Polymer & Chemicals Limited, and Senior Vice President for Engro Corporation Limited. Besides Engro Corporation Limited, he is a Director on the Boards of various Engro subsidiaries, the Hub Power Company Limited, Laraib Energy Limited, and Pakistan Japan Business Forum. He is Chairman of the Board of Engro Polymer Trading (Private) Ltd.

Nishat Mills Limited (KSE: NML) is the leading firm of Nishat Group that was commenced in 1951 and listed at stock exchange in 1989. The company is engaged in the business of textile spinning, weaving, processing, stitching, and apparel. It is one of the modern and biggest vertically integrated textile establishments in Pakistan.
The Board of Directors of KASB Bank on Wednesday announced its third quarter results for 2014. The Bank's operational profit as of 30th September 2014 is Rs 121 million. The overall positive outlook can be seen due to the stable performance of the bank.
Meezan Bank has recorded 24 percent growth in its profit-after-tax which increased to Rs 3.6 billion against Rs 2.9 billion earned in the nine months period ended on September 30, 2014. Earnings per share of the bank increased to Rs 3.57 (September 2013: Rs 2.87).
Gul Ahmed Textile Mills Limited (GATM), headed by Mohomed Bashir as Chairman, is one of the leading vertically integrated composite textile mills in the Pakistan which was listed at Karachi stock exchange in 1970. GATM is involved in the business of textile spinning, weaving, processing, designing, stitching, made-ups and processed cloth.
The country's second largest IPP, Hub Power Company, was incorporated in 1991 as a public limited company. It was one of the first and the largest IPPs to be financed by the private sector in southern Asia. The company holds immense significance as its shares are listed on all the three stock exchanges and its global depository receipts (GDRs) are listed on the Luxembourg Stock Exchange. The company was originally sponsored by two international players named: International Power and Xenal, both of which have withdrawn their stakes.
Coal has long been termed the next big thing in Pakistan's power sector. It sadly has had one obstacle too many to turn into reality. Pakistan faces another round of disagreements as the government has gotten the revised tariff for coal power, challenged by PTI's Asad Umar.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln