Mobilink Microfinance Bank and Daraz partner to empower women entrepreneurs

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has partnered with Daraz, Pakistan’s leading online marketplace to facilitate MMBL borrowers specifically women entrepreneurs, by enabling them to become sellers on Daraz.

Through this collaboration, MMBL and Daraz will provide adequate opportunities to promote Small and Medium Size Enterprises (SMEs), more so now as the e-commerce platform is going through an all-time boom via the 11.11 sale.… Continue

Supernet gets Rs. 100 million projects by strategic organization

Supernet Limited (“Supernet”) has been awarded three equipment supply projects consisting of equipment and services in the domains of satellite communications, telecommunications, and power with a combined equivalent value of PKR 100 million. The projects have been awarded by a strategic organization thereby expanding the customer base of its Telecommunications and Defense Business Unit.… Continue

Stock market cheers on IMF program resumption

The continuation of the IMF program leads to implementing economic reforms and previous initiatives, particularly fiscal and institutional reforms that may be favourable to economic growth. The IMF’s economic reforms would be beneficial to the stock market in general. Improvements in the current account can boost import appetite in a high-inflation environment when commodity prices are highest.… Continue

Power Generation up by 10.3% during 10MCY21 in Pakistan

Power generation went up by 10.3% YoY to 11,296 GWh (15,183 MW) during Oct’21, compared to 10,243 GWh (13,767 MW) during Oct’20. The rise in generation was owed to higher generation from Nuclear, FO and Wind.

Major contributors during Oct’21 were RLNG (share: 24%), Hydel (share: 23%), Coal (share: 17%), Nuclear (share: 12%), FO (share: 11%), Gas (share: 10%), Wind (share: 1.6%), and Solar (share: 0.5%).… Continue

SBP clarification on Inflation target and forecast

In some sections of the media, SBP’s average inflation forecast of 7-9% in FY22 is being interpreted as the “inflation target” and being compared to the inflation targets of other countries. This is incorrect.

SBP’s inflation forecast represents our projections for the current fiscal year.… Continue

Healthcare summit demands slashing prices of life-saving drugs in Pakistan

The government should immediately act to bring down the medicine prices in the country to ensure their availability to underprivileged people who have been facing acute problems in getting access to quality health care services. This was one of the consensus demand by the speakers who addressed the 4th Pakistan Healthcare Summit-2021 organised by the Consumers’ Association of Pakistan (CAP) in Karachi.… Continue

MUREB says competition has been increased after a Chinese brewery started operations in Hub, Balochistan

Established in 1860 originally to meet the demand for liquor in the British Military, Murree Brewery Company Limited (MUREB) has diversified into other categories including juices and water (under Tops segment) as company looks towards other growth avenues in the wake of increasing competition in liquor segment, while landscape also becomes tougher to operate in (Tops/Liquor division contributed 71/28% to 1QFY22 topline).… Continue

KSX index expected trends next week

Outlook and Recommendation

Following clarity in the monetary policy post yesterday’s meeting, experts believe the market will react accordingly next week. The recent bill to make SBP autonomous as well as today’s stance should now effectively remove another pre-condition of the IMF and therefore, we believe that market sentiment is hinged upon announcement of the IMF package.… Continue

SBP to strengthen coordination against money laundering, digital frauds, and cyber-attacks

Governor State Bank of Pakistan, Dr. Reza Baqir, chaired a meeting today with Director General FIA Sanaullah Abbasi to strengthen and coordinate efforts of SBP, banks and Federal Investigation Agency (FIA) to fight money laundering, cyber-attacks and online frauds. The meeting was also attended by the Presidents of Banks and senior officers of FIA and SBP.… Continue

Nestlé Pakistan installs benches; waste bins made from 100% recycled plastic waste in Hunza

In line with its global vision for a waste-free future, Nestlé Pakistan recently stepped-up efforts under the Clean Gilgit and Hunza Project by installing benches and waste bins made from 100% recycled plastic waste, in Hunza.

Clean Gilgit & Hunza Project is an initiative on waste management, in partnership with Nestlé Pakistan, Gilgit Baltistan Waste Management Company (GBWMC) and KADO.… Continue

Pakistan stock market mostly stayed in the green zone today mainly led by the banking sector

· Market mostly stayed in the green zone today mainly led by the banking sector. In the first session, positive momentum was observed as investors became optimistic due to the Large Scale Manufacturing Industries (LSMI) output number that increased by 5.15 percent in the first quarter (July-September) of the current fiscal year 2021-22 compared to the same period of last fiscal year 2021, as almost all major manufacturing sectors posted growth.… Continue

Fauji Fertilizer Company feels pressure not to increase prices

To recall, Fauji Fertilizer Company (FFC) announced its 3Q2021 unconsolidated earnings of Rs6,452mn (EPS of Rs5.07), up 39% YoY and 78% QoQ.

Agri sector growth during FY21 remained at 2.8% which is expected to grow to 3.5% in FY22.

FFC’s Urea market share has reduced from 44% to 39% in 9M2021 due to limited production capacity due to plant turnaround and higher market share taken by LNG plants.… Continue

Al-Ghazi Tractors: Key Highlights for 3QCY21:

Al-Ghazi Tractors (AGTL) has reported 3QCY21 NPAT of PKR835mn (EPS: PKR14.40), up a sharp c.20% qoq and c.85% yoy. This takes 9MCY21 EPS to PKR38.21, up c.2.5x yoy from PKR15.34. The result is better than our expected EPS of PKR12.90, where the deviation has stemmed largely from higher-than-expected gross margins.… Continue

Pakistan stock market continued to remain under pressure

·        Market continued to remain under pressure ahead of preponed MPS announcement. With further weakening of Pak rupee against dollar and mounting inflationary expectations, investors mostly stayed in the bearish territory. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.… Continue

JBS receives award for contribution to ‘Huawei Ecosystem’

Jaffer Business Systems, one of the topmost Information technology Companies in Pakistan honored with the prestigious award for its unparalleled contribution to Huawei Ecosystem for the year 2020-21.

The enthralling ceremony was organized by Huawei on cruise during Gulf Information Technology Exhibition (GITEX) week, 2021 recently held in Dubai, where JBS received an award for its incomparable performance and aiding towards maximum effectiveness of Huawei’s ecosystem.… Continue

Merit Packaging in discussion with McDonald for business

· Merit Packaging Limited (MERIT) held its analyst briefing session today to discuss its 1QFY22 result. To recall, the company posted a loss of PkR57mn (LPS: PkR0.65) in contrast to a loss of PkR165mn (LPS: PkR1.87) in same period last year, an improvement of 65%YoY and a loss of PkRPkR141mn (LPS: PkR1.59) in previous quarter, an improvement of 60%QoQ.… Continue