Pakistan Economy: News & Discussion

[Indx TechStyle]

766 New companies registered in Pakistan in January 2017. Foreign Investment was seen in 49 new companies: Securities & Exchange Commission

 

[Neo]

Energy cooperation: Pakistan, Azerbaijan close to signing oil, gas deal

February 11, 2017

ISLAMABAD: Pakistan and Azerbaijan are likely to sign an oil and gas trade deal during the visit of Azerbaijan’s president at the end of the current month.

Following the signing of an inter-governmental agreement for energy cooperation, the two sides will also explore a commercial contract to execute the proposed oil and gas trade deal. The two countries have already agreed on a draft government-to-government agreement for the energy sector and the cabinet has endorsed the draft.

Foreign Affairs and Law and Justice Divisions have also cleared the draft from political and legal points of view.

Azerbaijan President Ilham Aliyev will arrive in Pakistan on February 26.

“Azerbaijan has offered export of crude oil, petroleum products and liquefied natural gas (LNG) to Pakistan,” said a senior official of the Ministry of Petroleum and Natural Resources.

It has also expressed interest in constructing a terminal as well as LNG and liquefied petroleum gas (LPG) storages in a joint venture between Azerbaijan’s state oil company Socar and a Pakistan-designated company.

Prime Minister Nawaz Sharif had approved a proposal on March 10, 2015 for the start of negotiations with Azerbaijan on a memorandum of understanding (MoU) for mutual cooperation in the area of oil and gas exploration and production.

In the sixth session of the Pakistan-Azerbaijan Joint Economic Commission held in April 2016, both sides agreed to promote investment opportunities in the energy sector including exploration and production of oil and its products, broaden cooperation in the supply of crude oil and its products and set up an LNG and LPG terminal in a joint venture between nominated enterprises of the two countries.

The prime minister had allowed the Ministry of Petroleum to negotiate with energy companies of different countries including those of Azerbaijan. During negotiations, Pakistan and Azerbaijan agreed on an inter-governmental draft agreement.

Pakistan and Azerbaijan have also agreed on conducting joint research by setting up a laboratory and undertaking oil and gas production tests.

Furthermore, they will share scientific and technological developments in oil and gas exploration and production, while also committing to the training of professionals working in the petroleum industry.

Published in The Express Tribune, February 12th, 2017.

 

[Kshatriya87]

ECC approves another Rs30bn loan for power sector


@Indx TechStyle Debt is increasing my friend !!

 

[Kshatriya87]

Electricity import from Iran up by 42 percent

ISLAMABAD-Pakistan has increased the import of electricity from Iran by 42 percent and will further enhance it after the remaining international sanctions on the neighbouring country are lifted.

“It is strange that you disconnect power supply to a Rs54 defaulter, but you are reluctant to take action against those who have been defaulting on Rs200,000.

“If, for example, there are 0.7 million connections under Sukkur Electric Power Company (SEPCO), 0.3 million are illegal,” he added.

The committee was informed that for Gawadar 100 MWs of electricity was being imported from Iran since December 2016. Senator Taj Haider said that Iran was ready to supply 1,000MW electricity. The CEO said that work on 300MW IPP power plant was under way. Islamabad is facing difficulty in making agreements with Iranian banks due to international sanctions on the country. The government has again stated that negotiations with the Iranian government will continue and more power will be imported from Iran after removal of sanctions.

The transmission system is very old and overloaded, he remarked. The additional secretary said that in Malakand Division work on the system upgrade had been started.


@Indx TechStyle Imports are also increasing. !!

 

[vinuzap]

such is the pathetic state that now they are secretly taking loan to save foreign exchange

 

[Indx TechStyle]

Population census 2017: Why this extensive exercise will be defective

 

[Neo]

All automakers bullish on Pakistan
By APP
February 20, 2017

ISLAMABAD: In the backdrop of a surge in passenger car sales that recently crossed 200,000 units for the first time in Pakistan, all of the country’s automakers are planning production increases to satisfy the brisk domestic demand.

According to Nikkei Asian Review, new players are also flocking to this market of 200 million, lured by government incentives and the opportunity to tap a growing middle class.

For now, there may be enough growth to go around, but these new faces – which include the likes of Renault of France and Kia Motors of South Korea – could threaten the dominance of Japanese makers.

Pakistan saw a record high of roughly 218,000 passenger cars sold in fiscal year 2016, which ended last June. The leader was Pak Suzuki Motor, a subsidiary of Suzuki Motor, which landed an order from Punjab for 50,000 cars.

Local car sales down 4% in January

The province’s government plans to use the vehicles as taxis as part of a job-creation programme.

Indus Motor, a joint venture between Toyota Motor and local conglomerate House of Habib (HoH), is doing well with its mainstay Corolla, reporting that sales grew 11% on the year to 65,000 in fiscal year 2016.

“The market is so brisk that production can’t keep up,” said Indus Motor Vice Chairman Toshiya Azuma.

Azuma expects even more growth to come. “Demand in India, our neighbour, is about 4 million cars [including commercial vehicles] a year, so annual sales of about 600,000 cars is well within reach in Pakistan.”

Pakistan has a population one-sixth that of India.

Indus Motor Chairman Ali S Habib, a member of the family behind HoH, visits the company’s auto plant every week for meetings.

While he is cautious about ramping up production too quickly – “safety is our priority. We’d like to avoid too much overtime” – he is positive about the future. “The market is very strong. [Expansion will be] step by step,” he said.

Indus Motor launches new Fortuner, Hilux Revo

Honda Motor joint venture Honda Atlas Cars also saw record-high sales at 35,000 Civic and City units for calendar year 2016, up about 50% on the year.

Atlas group No 2 and CEO of Atlas Honda (a separate entity from Honda Atlas Cars) Saquib H Shirazi said, “The new Civic is the primary driver. We’re expecting sales of around 50,000 in 2017.”

These automakers are benefiting from a number of converging tailwinds. Household incomes are rising along with Pakistan’s growing economy, while prices for gasoline and diesel fuel are on a downward trajectory. Interest rates on auto loans have fallen sharply, averaging below 10% compared with nearly 18% in fiscal year 2008.

Atlas Honda’s profit up 32% to Rs 1 billion

More recently, the China-Pakistan Economic Corridor initiative has spurred investment in infrastructure, raising hopes that Pakistan’s highway network will be completed before long.

Pak Suzuki sold about 128,000 cars in Pakistan in fiscal 2016 and controlled about 58% of the passenger car market.

“Sales of models other than taxis, which are subject to special demand, grew by about 20% on the year,” Managing Director Hirofumi Nagao said.

In response to this spike in demand, the company plans to invest $460 million in a new plant.

In March 2016, the government unveiled its Automobile Development Policy 2016-2021, which provides various incentives for automakers entering the market, such as reduced import taxes on parts.

Seizing the opportunity, Kia Motors has partnered with Lucky Cement, the core company of the Yunus Brothers Group, one of Pakistan’s leading conglomerates. The two companies plan a total investment of $115 million.

Pak Suzuki unveils another imported vehicle – this time the 1.4L Ciaz

“We will undertake full-segment production, from compacts to sedans,” Lucky Cement CEO Muhammad Ali Tabba said.

The company plans to start producing 25,000 cars annually by the end of 2018 at its plant in the Port Qasim Industrial Zone in the Karachi suburbs.

“The car market in Pakistan has been monopolised by Japanese brands. Now, demand will go up, a lot of new highways are coming, and consumers’ minds are very active. So it is a good time to enter the market,” Tabba said.

The company will target a segment between Suzuki’s compacts and Toyota’s Corolla, considered a luxury model in this market.

Renault is making a similar move, applying to the government for an auto-making permit at the end of last year.

Hoping to start production in 2018, it has signed a memorandum of understanding with the Sindh Board of Investment (SBI) and has begun a feasibility study.

Auto policy approved, door wide open for new entrant

The SBI says investment will total $100 million, with production to begin with 6,000 cars in the first year and eventually expand to 50,000.

Audi of Germany has also voiced interest in production in Pakistan.

Opinions are split over the policy of giving newcomers special treatment.

Nagao of Pak Suzuki has asked the government for a two-year tax break as a condition for its investment in a new plant. But Azuma of Indus Motor is more upbeat:

“The ADP can be seen in a positive light, as it will promote the medium- and long-term growth of the automobile and automotive parts industries in Pakistan by attracting new entrants.”

Shirazi of Atlas is likewise positive, saying, “We don’t mind more automakers coming, because consumers will have more choice.”

 

[Indx TechStyle]

All automakers bullish on Pakistan
By APP
February 20, 2017

ISLAMABAD: In the backdrop of a surge in passenger car sales that recently crossed 200,000 units for the first time in Pakistan, all of the country’s automakers are planning production increases to satisfy the brisk domestic demand.

According to Nikkei Asian Review, new players are also flocking to this market of 200 million, lured by government incentives and the opportunity to tap a growing middle class.

For now, there may be enough growth to go around, but these new faces – which include the likes of Renault of France and Kia Motors of South Korea – could threaten the dominance of Japanese makers.

Pakistan saw a record high of roughly 218,000 passenger cars sold in fiscal year 2016, which ended last June. The leader was Pak Suzuki Motor, a subsidiary of Suzuki Motor, which landed an order from Punjab for 50,000 cars.

Local car sales down 4% in January

The province’s government plans to use the vehicles as taxis as part of a job-creation programme.

Indus Motor, a joint venture between Toyota Motor and local conglomerate House of Habib (HoH), is doing well with its mainstay Corolla, reporting that sales grew 11% on the year to 65,000 in fiscal year 2016.

“The market is so brisk that production can’t keep up,” said Indus Motor Vice Chairman Toshiya Azuma.

Azuma expects even more growth to come. “Demand in India, our neighbour, is about 4 million cars [including commercial vehicles] a year, so annual sales of about 600,000 cars is well within reach in Pakistan.”

Pakistan has a population one-sixth that of India.

Indus Motor Chairman Ali S Habib, a member of the family behind HoH, visits the company’s auto plant every week for meetings.

While he is cautious about ramping up production too quickly – “safety is our priority. We’d like to avoid too much overtime” – he is positive about the future. “The market is very strong. [Expansion will be] step by step,” he said.

Indus Motor launches new Fortuner, Hilux Revo

Honda Motor joint venture Honda Atlas Cars also saw record-high sales at 35,000 Civic and City units for calendar year 2016, up about 50% on the year.

Atlas group No 2 and CEO of Atlas Honda (a separate entity from Honda Atlas Cars) Saquib H Shirazi said, “The new Civic is the primary driver. We’re expecting sales of around 50,000 in 2017.”

These automakers are benefiting from a number of converging tailwinds. Household incomes are rising along with Pakistan’s growing economy, while prices for gasoline and diesel fuel are on a downward trajectory. Interest rates on auto loans have fallen sharply, averaging below 10% compared with nearly 18% in fiscal year 2008.

Atlas Honda’s profit up 32% to Rs 1 billion

More recently, the China-Pakistan Economic Corridor initiative has spurred investment in infrastructure, raising hopes that Pakistan’s highway network will be completed before long.

Pak Suzuki sold about 128,000 cars in Pakistan in fiscal 2016 and controlled about 58% of the passenger car market.

“Sales of models other than taxis, which are subject to special demand, grew by about 20% on the year,” Managing Director Hirofumi Nagao said.

In response to this spike in demand, the company plans to invest $460 million in a new plant.

In March 2016, the government unveiled its Automobile Development Policy 2016-2021, which provides various incentives for automakers entering the market, such as reduced import taxes on parts.

Seizing the opportunity, Kia Motors has partnered with Lucky Cement, the core company of the Yunus Brothers Group, one of Pakistan’s leading conglomerates. The two companies plan a total investment of $115 million.

Pak Suzuki unveils another imported vehicle – this time the 1.4L Ciaz

“We will undertake full-segment production, from compacts to sedans,” Lucky Cement CEO Muhammad Ali Tabba said.

The company plans to start producing 25,000 cars annually by the end of 2018 at its plant in the Port Qasim Industrial Zone in the Karachi suburbs.

“The car market in Pakistan has been monopolised by Japanese brands. Now, demand will go up, a lot of new highways are coming, and consumers’ minds are very active. So it is a good time to enter the market,” Tabba said.

The company will target a segment between Suzuki’s compacts and Toyota’s Corolla, considered a luxury model in this market.

Renault is making a similar move, applying to the government for an auto-making permit at the end of last year.

Hoping to start production in 2018, it has signed a memorandum of understanding with the Sindh Board of Investment (SBI) and has begun a feasibility study.

Auto policy approved, door wide open for new entrant

The SBI says investment will total $100 million, with production to begin with 6,000 cars in the first year and eventually expand to 50,000.

Audi of Germany has also voiced interest in production in Pakistan.

Opinions are split over the policy of giving newcomers special treatment.

Nagao of Pak Suzuki has asked the government for a two-year tax break as a condition for its investment in a new plant. But Azuma of Indus Motor is more upbeat:

“The ADP can be seen in a positive light, as it will promote the medium- and long-term growth of the automobile and automotive parts industries in Pakistan by attracting new entrants.”

Shirazi of Atlas is likewise positive, saying, “We don’t mind more automakers coming, because consumers will have more choice.”

Reasons Why not to compare with India's?

1. You are the assembler, we are the manufacturer.
2. You are dependent on foreign companies completely, we are owners of OEMs.
3. Indian Middle Class has a unique habit to save money, that's why it's growth outlook remains stable, doesn't leap with temporary increment in wages but doesn't go much down at the time of Crisis. Indian Economy follows a completely different structure since 90s crisis.
4. Revenue of Indian Companies is far more bigger, even foreign companies working here have surpassed their OEMs. Revenue is too big to have an exponential growth. It's still growing between 12%-25% every year.

 

[bose]

Pakistan will be again be a developed country once CPEC is completed... just waiting for CPEC to complete at the earliest ...

 

[Neo]

Reasons Why not to compare with India's?

1. You are the assembler, we are the manufacturer.
2. You are dependent on foreign companies completely, we are owners of OEMs.
3. Indian Middle Class has a unique habit to save money, that's why it's growth outlook remains stable, doesn't leap with temporary increment in wages but doesn't go much down at the time of Crisis. Indian Economy follows a completely different structure since 90s crisis.
4. Revenue of Indian Companies is far more bigger, even foreign companies working here have surpassed their OEMs. Revenue is too big to have an exponential growth. It's still growing between 12%-25% every year.

Take your d*ckmeasuring to your fellow trolls, I couldn't care less about your India so great chest thumping. And read that Durex report again

 

[F-14B]

Take your d*ckmeasuring to your fellow trolls, I couldn't care less about your India so great chest thumping. And read that Durex report again

If you don't have a dick that your problem
If you can't care less about about my nation then relax and just sit at home

Ps Neo you have changed a lot dear since
I first saw you but all have changed haven't we just relax man

Regards
F-14

 

[Neo]

Pakistan will be again be a developed country once CPEC is completed... just waiting for CPEC to complete at the earliest ...

CPEC is overrated by insecure and delusional DFI'ans. For us, its just a great opportunity to attract investment in energy and infrastructure and use it as a catalyst for domestic and regional growth. It will add up to 1-2% additional growth tops in the next decade.

But here's what most Indians believe India look like by 2030.

 

[AnantS]

^ Whats the use of Dick for Paki men as most of the time they are getting fucked in asshole by India, Mossad and America? Half Dick is another vestigial organ for Pakis

 

[F-14B]

But here's what most Indians believe India look like by 2030.

Thank you @Neo we are working towards the same

 

[pankaj nema]

@Neo I want to tell you that from now on I will be posting ALL the BAD news about Pakistani economy and tag you

Count on it ; your bubble has to be busted

 

[pankaj nema]

@Neo

https://tribune.com.pk/story/1330442/pakistans-current-account-widens-staggering-90/

Pakistan’s current account deficit widens by a staggering 90%

 

[pankaj nema]

@Neo

Forex reserves fall to $21.824bln, lowest in 9 months

https://www.thenews.com.pk/print/186758-Forex-reserves-fall-to-21824bln-lowest-in-9-months

 

[sthf]

Take your d*ckmeasuring to your fellow trolls, I couldn't care less about your India so great chest thumping. And read that Durex report again

Well shitting your pants at the first sign of fact based argument is a very Paki thing to do. Can't really blame you, your parents are first cousins.

We are happy with our slightly smaller disks as they are used to have sex with women. For gang raping donkeys, you guys sure do need bigger ones.

https://en.dailypakistan.com.pk/pakistan/family-protests-sexual-assault-with-donkey-in-sahiwal/

 

[sthf]

@Neo

Mubarak ho daalaar aa gaye.

http://www.dawn.com/news/1308895/foreign-direct-investment-jumps-10pc

The overall investment increased 52pc to $1.82bn for the period under review. However, this increase was achieved by including the money borrowed through the Eurobond floated by the government.

Wow dude, one whole billion dollar FDI, now you can show those pesky people of Tuvalu who is their Atmi Quwwat daddy.

 

[Indx TechStyle]

Take your d*ckmeasuring to your fellow trolls,

Oh! Read your post again!

And read that Durex report again

I have left my response there if you care to read (cuz you belong to same race as that of ours, Pakistanis are some doomed Indians in fact).