Coal Production In Pakistan Sr. No. Province FY2020 FY2021 (July to Feb) 1. Balochistan 3,086,576 2,060,624 2. Sindh 4,414,296 3,747,144 3. Punjab 1,072,120 526,190 4. Khyber Pakhtunkhwa 257,240 41,212 5. AJ&K 272 205 6. Import 16,421,787 12,183,161 Total 25,252,291 18,558,536 Source: Ministry of Energy (Petroleum Division, Mineral Wing) [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] PAEC’s Performance Parameters Capacity (MW) Electricity sent to Grid (Million kWh) Plant Gross Net 1st July 2020 to 31st March 2021 Lifetime up to 31st March 2021 KANUPP 100 90 162 14,871 C-1 325 300 1,929…
Author: S. Kamal Hayder Kazmi
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market ( JUNE 11, 2021) Currency Symbol Buying Selling Australian Dollar AUD 119 121 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 127.5 129.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 188.5 190.5 Hong Kong Dollar…
KSE-100 ends pre-budget session with clipped gains The pre-budget session at the Pakistan Stock Exchange (PSX) on Friday ended with clipped gains as investors were wary of pouring investment before assessing details of FY22 budget. Concerns over the budget announcement later in the day kept market participants on the sidelines in initial trading, however, towards the end investors offloaded their stockholdings across the board. Moreover, the rise in international crude oil prices to fresh multi-year highs on expectations of recovery in fuel demand in the United States, Europe and China supported the local oil-related sectors at the bourse. At close,…
Imran Khan’s green initiatives bring laurels for the country Recently, Pakistan hosted the World Environment Day 2021 main event, in partnership with the UN Environment Program (UNEP). As the host of the event, Prime Minister Imran Khan highlighted the local and worldwide environment degradation issues and showcased the country’s own initiatives before the world that his government was contributing to the worldwide cause. Noted environmentalist and forest expert Dr Sarwat Mirza said that hosting the World Environment Day-2021 was an unprecedented opportunity and honour for Pakistan. Furthermore, the ‘10 Billion Tree Tsunami’ initiative was perhaps the world’s largest struggle through…
End of ‘engagement’ won’t lead to U.S. business exit from China A commitment by U.S. businesses to China’s market isn’t likely to be reversed after a high-level warning that relations between the two countries had entered new territory following an extended period of geopolitical tension, a former long-time American diplomat in Greater China said in an interview. “The majority of U.S. companies are successful in China and see that success as an important contributor to their global performance,” Kenneth Jarrett, currently a senior advisor to the Albright Stonebridge Group, said. “They are not looking to exit the China market.” Kurt…
Technology is paving the way for the future of shipping Digitalization in shipping shouldn’t be regarded as a thing for the future, or some abstract idea that could (or not) offer valuable contribution to the way the industry works. It’s actually happening right now and has been for quite some time. New software and hardware are taking over, in order to assist ship owners in the way they can operate their fleets. Maritime Optima is a technology company aiming to deliver a premium service to shipowners, traders, cargo owners and brokers. The company recently signed a 5- year contract with…
Australia winter wheat crop estimate above average Australian winter wheat crop production in 2021-22 is expected to be above average due to increased planted area, according to an Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) June report. Rise in planting is attributed to favorable weather and increased global commodity prices. Jared Greenville, acting executive director of ABARES, said while the winter wheat forecast is well above average there will be differences across growing regions. “Winter crop production is forecast to be 46.8 million tonnes in 2021–22, which is below the near record high production last year but 13…
Most Inspiring Leader All Time International studies reveal that Napoleon won nearly 90 percent of his battles, a remarkable statistic for a coach, but unheard of for a military commander. Napoleon’s great adversary, the Duke of Wellington, was once asked who was the greatest general of his age. Wellington replied, “in this age, in past ages, in any age, Napoleon.” Napoleon dominated Continental Europe, developing a system of laws, administration, and education that still influences governments globally. Only a coalition of Britain, Prussia, Austria, and Russia would ultimately defeat him. What made Napoleon such an outstanding leader? His strong rapport…
Sources record that for true description of the economic performance of Pakistan, the experts need to compare the performance of economy pre and post Covid-19. Sources also presently record that Pakistan’s economy is on a solid growth path and has potential to boost at a much higher rate upcoming 5-year despite a challenging environment globally. The experts said higher GDP growth in the 5-6 percent per annum range is going to be a new normal in the next 5-year considering major economic indicators. The State Bank of Pakistan (SBP) projects 3 percent GDP growth during FY2021 and 4 percent in…
Analysis of Economic Survey of Pakistan showed that agriculture is still the largest sector of the economy of Pakistan as its contribution to GDP has gradually declined to 19.3 percent, however, there is a lot of potential in the sector to increase its share in GDP through increased productivity utilization of latest agricultural technologies. Statistics showed that performance of Kharif crops during FY202; rice production grew by 2.9 percent to 7.410 million tons and maize production by 6.0 percent to 7.236 million tons while cotton production fell by 6.9 percent to 9.178 million bales and sugarcane production decreased by 0.4…
[divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″]
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market ( May 27, 2021) Currency Symbol Buying Selling Australian Dollar AUD 119 121.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 128 130 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 188.5 191 Hong Kong Dollar…
Metals, financials drag indices; Sensex falls 338 pts, Nifty holds 14,900 Benchmark indices turned sharply lower during the fag-end of the session, after staying flat for better part of the day, as US stock futures indicated a weak session on Wall Street. Dalal Street investors took cues from Dow Jones Futures, that tumbled nearly 200 points in early pre-market deals, and booked profit largely in metal, financials, and FMCG counters. S&P 500 and Nasdaq Futures also slipped 20 points and 60 points, respectively, suggesting a third straight session of declines in the US. That apart, weekly expiry of the F&O…
Imran Khan inaugurates 1,100 mw Chinese-built nuclear power plant Recently, Prime Minister of Pakistan Imran Khan virtually inaugurated the Karachi Nuclear Power Plant (NPP) Unit-2 (K-2), a third-generation state-of-the-art plant with improved safety systems. Sources record that the ceremony was simultaneously held at K-2 NPP, Karachi and in Beijing, China, and also marked the 70th anniversary of the establishment of diplomatic relations between the two countries. Speaking on the occasion, Imran Khan said he was happy that the K2 nuclear plant is being inaugurated on the 70th anniversary of Pak-China diplomatic relations “Clean energy is very important for us,” he…
China’s economic recovery slows in April after q1 boom China’s economy has slackened in April from the jump seen in the previous month as factory output slowed and retail sales missed analyst expectations, indicating more pressure on the recovery in consumption. Industrial production grew 9.8 percent in April from a year ago, slower than the 14.1 percent surge in March, National Bureau of Statistics (NBS) data showed on Monday but matching a consensus forecast by analysts from a Reuters poll. China’s gross domestic product (GDP) expanded by a record 18.3 percent in the first quarter and many economists expect growth…
Ports & terminals vs shipping lines: do investors favour the latter? With hindsight, it can easily be illustrated that even though macro-economic hindrances originate from different sources, they all tend to challenge (in one form or the other) the established rules. By now, we all must have read a lot about the pandemic and its related effects and should be comfortable classifying FY20 as one of the strangest years in human history. Even though consumer confidence took a beating, economic stimulus and altered buying patterns kept the ball rolling. The shipping industry, which forms the kernel of international trade, too…
Wild coffee: improving the coffee industry Coffee is an important commodity globally, but its main markets are the rich, developed countries in Europe and North America. In 2019, the global coffee market had an estimated value of an astounding $102.15 billion. The production of coffee beans is climate-specific and the plants are grown in developing countries in South and Central America, the Caribbean, Africa and Asia. The entire process of cultivating and producing coffee impacts the lives of more than 120 million workers and their families. It is closely related to rural development and poverty. The coffee industry also has…
Most inspiring leader of all time International sources reveal that very few individuals personify dedication and patience like Nelson Mandela, South Africa’s first democratically elected President. Getting there was a story so epic that it was made into a Hollywood biopic in 2013. Much like Martin Luther King, Jr., Mandela was one of the great transformative civil rights leaders of the 20th century. Nelson Mandela not only directed peaceful demonstrations against the deeply racist South African government, he went on to claim the Nobel Prize in 1993 for assisting to end apartheid. Nelson Mandela was neither a politician nor an…
Despite the Covid-19 prevails in Pakistan since 2020, the Securities and Exchange Commission of Pakistan (SECP) recorded in its report that SECP continued to build momentum by launching facilitative measures for stakeholders, strengthening enforcement function and enable innovations. While some regional markets faced challenges of operability, the capital market in the country stayed completely operational in 2020 inspite of extreme volatility, mainly in March last year. Improvements in the risk management framework by introduction of market halts and phased widening of circuit breakers from 5 percent to 7.5 percent initiated in December, 2019 proved to be a timely initiate. Simultaneously,…
The impact of Covid-19 pandemic is pervasive when viewed by a migration lens as it affects migrants and their families who rely on remittances. The World Bank continues working with partners and states to keeps the remittance lifeline flowing. International reports note that in various countries annual transfers of money through foreign migrant workers to their home countries play a chief role. These remittances offer income support for family members back home and, in some scenarios, offer funding for start-ups. It is also noted that remittances are also a source of foreign exchange reserves for developing countries including Pakistan and…
Pakistan: Workers’ Remittances (Million US Dollars) Item Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 I. Cash Flow 2,284.0 2,284.2 2,338.8 2,437.1 2,273.6 2,265.9 2,724.9 1. USA 180.4 183.3 185.2 203.3 203.2 210.8 283.3 2. U.K. 289.3 278.5 286.3 326.9 303.0 349.2 371.2 3. Saudi Arabia 665.8 634.8 615.1 624.8 553.6 532.6 690.4 4. U.A.E. 473.0 504.1 519.5 511.6 492.5 488.0 589.7 Dubai 364.1 442.4 452.3 452.1 434.5 429.5 454.2 Abu Dhabi 91.8 55.3 60.7 51.5 50.5 51.7 126.7 Sharjah 10.7 4.7 4.6 5.5 5.7 5.2 6.9 Others 6.4 1.7 1.9 2.5 1.8 1.6 1.9 5. Other GCC Countries 261.4 272.8…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (April 29 2021) Currency Symbol Buying Selling Australian Dollar AUD 117.5 119.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 122.5 124.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 185 187 Hong Kong Dollar HKD…
Win streak may continue for China stock market The China stock market has finished higher in three straight sessions, collecting almost 35 points or 1 percent along the way. The Shanghai Composite Index now rests just beneath the 3,475-point plateau and it may extend its gains on Friday. The global forecast for the Asian markets is upbeat thanks to solid earnings news and rising crude oil prices. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead. For the day, the index gained 17.83 points or 0.52 percent…
PM Imran Khan introduces Kisan Card Realising the potential of agriculture and taking cognizance of the issues related to agriculture sector, the PM Imran Khan has said that the government’s historic initiative of Kisan Card would transform the agriculture sector in Pakistan, making farmers prosperous. Addressing the distribution ceremony of the first phase of Kisan Cards to offer agriculture loans for farmers in Multan, Imran Khan said the step would assist eradicate poverty of around 5.0 million farmers in Pakistan. Giving strength to farmers means making Pakistan strong, Imran Khan said, adding that the government is firm to bring an…
Philippine economy seen to grow by 4.5 pc The Philippine economy is foreseen to grow by at least 4.5 percent this year and 5.5 percent in 2022, according to an Asian Development Bank report released Wednesday. Public spending on infrastructure and social assistance, better pandemic response, substantial progress in vaccination rollout and a steady recovery in global economy will boost growth this year and the next, according to the Asian Development Outlook 2021. Household spending, exports and remittances are also expected to grow this year, ADB Philippines Country Director Kelly Bird told reporters in a virtual briefing. [divider style=”normal” top=”20″…
Checks and balances on container rates In shipping there have been clear winners and loser in the global war against the Covid-19 pandemic. In the latter camp sit cruise ships and to some extent tankers, who have seen earnings spike from storage demands only to fall back as international oil demand waned. In prime position in the winners’ circle are container ships. Freight rates have climbed ever higher since the start of the pandemic and while they were starting to settle towards the end of the first quarter, the mishap with the Ever Given in the Suez Canal gave them…
Iron ore price surges to record high Iron ore prices jumped to a fresh high on Monday on robust Chinese demand. Iron ore futures on the Dalian Commodity Exchange, for September delivery, closed 4.3 percent higher at 1,145 yuan. The contract jumped 6.3 percent earlier. According to Fastmarkets MB, Benchmark 62 percent Fe fines imported into Northern China (CFR Qingdao) were changing hands for $193.58 a tonne on Tuesday, up 3.93 percent from Friday trade. The high-grade Brazilian index (65 percent Fe fines) also advanced to a record high of $226.90 a tonne. “Iron ore prices are mainly supported by…
Most inspiring leader all time BILL GATES is the co-founder of Microsoft Corporation and one of the world’s most prominent individuals, who was born in Seattle, Washington. Bill Gates is one of the most inspiring figures in history, he has had a life packed with achievements. Have a look here and you will find everything that you’ve ever wanted to know about Bill Gates’ life and achievements! Bill Gates is an American programmer, entrepreneur, investor and philanthropist, co-founder of Microsoft: the premier software company in the world. With an estimated $90.6 billion in net worth, Gates is the world’s, second-richest man.…
During holy month of Ramazan, Muslims across the world spend their time fasting, praying, giving back to the community and introspecting. Ramazan is the most auspicious time of the year and is observed with full enthusiasm through the Muslim community globally. Ramazan is the ninth month of the Islamic calendar and holds greater significance as it is the first time when Allah SWT (God) revealed the Quran to holy Prophet Muhammad (PBUH). The fasting during this month is considered as one of the 5-pillars of Islam. According to the Economic Survey FY2020 of Pakistan the subject of Zakat was devolved…
Statistics show that in Pakistan the composition of Islamic banking industry (IBI) stayed similar with 22 Islamic banking institutions comprising 5 full-fledged Islamic banks (IBs) and 17 conventional banks having standalone Islamic banking branches (IBBs) at the end of December 2020. Despite Covid-19 pandemic condition in Pakistan experts reveal that the Islamic banking sustained a strong growth during previous year as the Government of Pakistan borrowed over Rs 700 billion from Shariah-compliant banks during the year to partly finance its budget deficit and to reduce circular debt in the energy sector. Statistics released by the State Bank of Pakistan (SBP)…
Islamic Banking In Pakistan (As of December 30, 2020) Type Bank Name Azad Kashmir Baluchistan Federal Capital Gilgit- Baltistan KPK* Punjab Sindh Grand Total Islamic Banks AlBaraka Bank (Pakistan) Ltd. 3 6 6 3 16 100 47 181 BankIslami Pakistan Limited 4 14 9 4 22 100 78 231 Dubai Islamic Bank Pakistan 7 5 15 3 10 86 84 210 Meezan Bank Limited 6 27 38 3 57 432 252 815 MCB Islamic Bank Limited 2 13 9 1 15 85 63 188 IBs – Total 22 65 77 14 120 803 524 1,625 Standalone Islamic Banking Branches of…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Currency Rate As Per Open Market ( APR 23 2021) Currency Symbol Buying Selling Australian Dollar AUD 117 119 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 121 123 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 183.25 185 Hong Kong Dollar HKD…
Taiwan stock market tipped to reverse Wednesday’s losses The Taiwan stock market on Wednesday ended the five-day winning streak in which it had advanced more than 490 points or 2.9 percent. The Taiwan Stock Exchange now sits just above the 17,200-point plateau although it’s tipped to find renewed support on Thursday. The global forecast for the Asian markets is positive after a couple of days of weakness, although sinking crude oil prices may cap the upside. The European and U.S. markets were up and the Asian markets are tipped to follow suit. The TSE finished modestly lower on Wednesday as…
Prime Minister launches scholarship program Presently PM Imran Khan in Pakistan launched the Rehmatul-Lil Alameen scholarship program for intermediate and undergraduate students in Islamabad. It is said that the scholarships would be available to all the people in the country counting non-Muslims. Statistics show that the federal government will yearly offer Rs 5.5 billion for 70,000 scholarships. PM Imran said that a total of 350,000 scholarships would be provided during the next 5-year at a cost of Rs 28 billion under the initiative. The Provincial governments of Punjab and KPK will also separately offer scholarship to the students. Imran Khan…
China’s economy roars ahead as engine for global growth China’s economic indicators for the first quarter of 2021 have been released. At an annualized rate, the economy grew 18.3percent from January through to April, facilitating a complete economic recovery as the world deals with the disruption of COVID-19, and consumption reasserts itself, registering the highest tally since 1993. In line with the GDP figures, industrial output increased 24.5 percent from last year, exports by 38.7 percent, imports 29.2 percent, retail sales of consumer goods 33.9 percent, and fixed-asset investment by 25.6 percent, all positive indicators showing a healthy and resilient…
Lockdowns hinder the demolition market once again The ships’ recycling market has sustained a halt over the past days, as a result of Ramadan holidays and the raging pandemic in India and large parts of Southeast Asia. In its latest weekly report, shipbroker said that having entered the holy month of Ramadan and lockdown restrictions across the Indian sub-continent looking set to continue due to a surge in domestic cases, many buyers seem to be coming more cautious due to the unpredictable nature of the Pandemic and subsequent effect to local sentiment and commodity markets. These current events may make…
Could Iraq really become OPEC’s largest oil producer? Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current production of around 3.8 million bpd that factors in OPEC-mandated cuts. Based on its vast oil resources there is no insurmountable reason why this output level should not be attained by that time or indeed even the 9 million bpd or 11 million bpd that were posited by the International Energy Agency in its 2012 production scenario analysis for Iraq. Even the…
Most inspiring leader of all time Lawrence Edward Page is an American Computer Scientist and an internet entrepreneur who co-founded Google with Sergey Brin in 1998. Larry Page is the CEO of Google’s parent company Alphabet Inc. Born on March 26, 1973, in East Lansing, Michigan, his father was a Ph. D in Computer Science and a professor at Michigan State University and his mother an instructor in computer programming. A voracious reader in his youth, Page spent a lot of time poring over Science & Technology books and magazines. Page always liked to invent things and at the age…
The Government of Pakistan joined a United Nations public advocacy campaign ‘Only Together’ which calls for covid vaccination to be obtainable to everyone and everywhere to contain the deadly pandemic. No doubt, it is pivotal to control the pandemic for quick recovery of the virus-hit global economy. Moreover, Prime Minister Imran Khan had also called for equitable distribution of coronavirus vaccine. Back in January, the Prime Minister, at the fourth session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva, called for proposing an equitable supply of the coronavirus vaccine in the developing states. Health experts urge…
According to the World Health Organization (WHO), at least half of the world’s population still lacks access to necessary health services; greater than 800 million people spend at least 10 percent of their household income on health care, and out of pocket expenses drive almost 100 million people into poverty each year. As states move forward post-COVID-19, it will be vital to avoid cuts in public spending on health and other social sectors. Such cuts are probable to raise hardship among already disadvantaged groups, weaken health system performance, raise health risks, add to fiscal pressure in the future and undermine…
COVID-19 in Pakistan (April 10, 2021) Details Confirmed cases Active cases Deaths Recoveries AJK 14,260 2,083 395 11,782 Balochistan 20,178 643 213 19,322 GB 5,103 88 103 4,912 Islamabad 64,902 13,063 601 51,238 KPK 97,318 12,253 2,586 82,479 Punjab 245,923 38,780 6,908 200,235 Sindh 268,284 6,168 4,523 257,593 [divider style=”normal” top=”20″ bottom=”20″] [divider style=”normal” top=”20″ bottom=”20″] Pakistan: Regional Countries Human Development Indicator Country Country Life expectancy at birth, total (years) Infant Mortality Rate (per 1,000 live births) Maternal Mortality Rate (Per 100,000) Under 5 Mortality Rate (Per 1,000) Population growth (annual %) 2016 2017 2018 2016 2017 2018 2015 2016…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate as per open market ( Apr 08 2021) Currency Symbol Buying Selling Australian Dollar AUD 115 116.5 Bahrain Dinar BHD 386.5 388.5 Canadian Dollar CAD 119.5 121.5 China Yuan CNY 23.5 23.65 Danish Krone DKK 23.2 23.5 Euro EUR 180.5 182.5 Hong Kong Dollar…
KSE-100 breaches 45,000-point mark The stock market continued its recovery on Friday with the benchmark KSE-100 index recouping another 445 points on last trading day of the week as positive macros once again helped the index surpass the 45,000-point mark. A surge in foreign exchange reserves, which rose above $16 billion on Thursday with the receipt of $2.5 billion via Eurobond issue, played the role of a catalyst in the bullish close at the Pakistan Stock Exchange. Last week, Pakistan entered the international capital market after a gap of over three years by successfully raising $2.5 billion through a multi-tranche…
Prime Minister Imran Khan’s Green Stimulus Initiative Presently the World Bank (WB) has proclaimed all-out financial and technical support to Prime Minister Imran Khan’s nationwide initiatives for environmental conservation and protection and improved disaster resilience, mainly Green Stimulus one, said country director of the bank Najy Benhassine. Leading a Work Bank delegation, Najy Benhassine called on Malik Amin and conveyed the bank’s all-out support to Pakistan’s green post-pandemic economic recovery initiative and afforestation and nature conservation programmes, mainly Green Stimulus project. He said $120 million funding pledged through the bank for this initiative had already been accepted and could be…
China economy 2021: latest economic data about world’s second-largest economy China’s economic data paints a comprehensive picture of the state of the world’s second-largest economy. This includes figures pertaining to gross domestic product (GDP), the consumer price index (CPI), the producer price index (PPI), industrial production and profits, purchasing managers’ indices (PMI), retail sales, foreign exchanges reserves, imports and exports, as well as the trade balance. However, the accuracy of official Chinese economic data has been called into question, given the lack of transparency in how it is generated. China’s economy grew by 6.5 percent in the fourth quarter of…
Dry bulk market dynamics shifting Demand for second hand dry bulk tonnage has been rising of late, with shipowners’ focus being the Handysize and Supramax sectors. In its latest weekly report, it is said that following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a few things about the SnP market behavior. Interestingly, the dry secondhand market remained hot amid the holidays, with Handysize and Supramax sectors attracting the majority of buyers’ interest. Handysize in particular, have rebounded strongly both interest wise and asset value wise…
U.S. ethanol production up, stocks down The U.S. Energy Information Administration says production averaged 975,000 barrels a day, up 10,000 on the week and 303,000 on the year, one of the first weeks blending demand concerns connected to COVID-19 impacted the industry. Last week’s average was 27,000 barrels below the week ending April 5th, 2019. The Renewable Fuels Association says net inputs by refiners and blenders and the volume of gasoline supplied to consumers were below the previous week, but above this time last year. Ethanol stocks of 20.642 million barrels were the lowest since mid-November 2020, falling 472,000 barrels…
Most Inspiring Leader Of All Time Thomas Edison was America’s greatest inventor and also a great businessman. His inventions created and contributed to modern night lights, phonograph, the motion pictures, and long-lasting practical electric light bulb. He was genuinely a Genius. Among his invention, some were improvements on various other inventions, similar to phone. Some were deliberately tried to invent, similar to bulb and motion picture projector. But, few inventions he stumbled on, like the phonograph. One day, as a little boy, Thomas Edison got back home from school and gave paper to his mom. He said to her, Mother…
According to the Economic Survey FY2020, stable inflation is always linked with well growth and development outcomes. Price stability not only declines uncertainty but also offers multi-dimensional optimistic impacts on economic, social, and psychological spheres of all segments of the society, mainly poor families. Prior to the COVID-19 outbreak, the Government of Pakistan was no doubt making attempts to stabilize the inflationary pressure that originated from requisite adjustment strategies. Thus, the spike in inflation which appeared because of energy tariff adjustments and the adoption of market-based exchange rate was flattened out mostly because of the government steps taken for price…
Studies reveal that for a long time Pakistan’s external sector remained under pressure. Export were on a downward trajectory, while import increased considerably. The main causes linked with falling exports were currency overvaluation, domestic energy crises, worldwide market contraction, falling international commodity prices, competitiveness crises mainly between Pakistan and major export competitors. Pakistan Exports Details %Change for value in million Rupees in February, 2021 over January, 2021 February, 2020 Knitwear -10.85 16.61 Readymade garments -16.25 -12.28 Bed wear -7.87 1.91 Cotton cloth -2.19 -18.79 Cotton yarn 39.44 27.05 Rice others -2.99 -8.15 Towels -12.03 -0.55 Basmati Rice -15.24 24.73 Madeup…
Pakistan Trades (US$ MN) Period Exports (BOP) Growth Rate Imports (BOP) Growth Rate Balance of Trade Value Cumulative Value Cumulative a b Monthly Period to Period c d Monthly Period to Period a-c b-d Jul-17 1,817 1,817 -3.6 20.5 4,799 4,799 -3.8 53.9 -2,982 -2,982 Aug-17 2,090 3,907 15.0 16.1 4,530 9,329 -5.6 32.6 -2,440 -5,422 Sep-17 1,743 5,650 -16.6 11.8 3,884 13,213 -14.3 30.0 -2,141 -7,563 Oct-17 1,960 7,610 12.4 10.6 4,395 17,608 13.2 29.1 -2,435 -9,998 Nov-17 2,173 9,783 10.9 11.9 4,515 22,123 2.7 25.8 -2,342 -12,340 Dec-17 2,008 11,791 -7.6 10.9 4,297 26,420 -4.8 22.0 -2,289 -14,629…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Currency Rate As Per Open Market In Pakistan (Mar 18 2021) Currency Symbol Buying Selling Australian Dollar AUD 119.5 121.5 Bahrain Dinar BHD 393.3 395.3 Canadian Dollar CAD 123 125 China Yuan CNY 24.85 25 Danish Krone DKK 22.95 23.25 Euro EUR 184 186 Hong Kong Dollar…
Canada stocks-bank stocks, dismal retail sales data drive TSX lower Canada’s main stock index fell on Friday, pressured by weakness in energy and bank stocks, while data showed domestic retail sales fell in January further denting sentiment. The energy sector dropped 0.8 percent as a new wave of coronavirus infections across Europe triggered fresh lockdowns, while the financials sector slipped 0.7 percent. Domestic retail sales fell 1.1 percent to C$52.55 billion ($42.07 billion) in January compared with the previous month, as provincial governments began re-introducing health restrictions to combat resurgence in coronavirus cases, Statistics Canada said. The Toronto Stock Exchange’s…
Prime Minister Of Pakistan Prime Minister Imran Khan has launched “Koi Bhooka Na Soye” programme under the umbrella of the Ehsaas poverty alleviation. One of the cornerstones of the ruling government manifesto is to rid Pakistan of poverty and PM Imran has tried aggressively to push initiatives for the common man. Under the programme, mobile vans would visit dissimilar regions of main cities to feed poor and underprivileged people. Initially, it has been launched in the federal capital and would soon enlarge to other cities of Pakistan. Addressing the launching ceremony in Islamabad, Prime Minister regretted that there were many…
Korea’s economy to normalize in growth, but must watch debt: AMRO South Korea’s economy is set to return to its normal growth pace of around 3 percent this and next year, but it must watch ballooning debt level, advised ASEAN+3 Macroeconomic Research Office (AMRO), a regional macroeconomic research agency on Thursday. Asia’s fourth largest economy is expected to stay on a fairly solid recovery path until 2022, according to AMRO’s assessment after its annual consultation visit to Korea. After contracting by 1.0 percent last year, the Korean economy is projected to grow 3.2 percent this year and 3.0 percent next…
Global Maritime Industry Scrap prices should rise in order to attract more tonnage says shipbroker An underwhelming demolition market has been the norm so far this year, despite expectations that a lackluster freight market, mainly for tankers, could increase tonnage sold for scrap. However, this hasn’t been the case so far, not to mention that owners of bulkers and containers prefer to keep them in the market, due to improved freight rates. Scrapyards have already hiked prices offered for tonnage, by 10 percent since the start of the year, with shipbrokers expecting this to increase even further. In its latest…
Commodities In 2021 How India’s rice production can adapt to climate change challenges As the global population grows, the demand for food increases while arable land shrinks. A new University of Illinois study has investigated how rice production in India can meet future needs by adapting to changing climate conditions and water availability. “Rice is the primary crop in India, China, and other countries in Southeast Asia. Rice consumption is also growing in the US and elsewhere in the world,” said Prasanta Kalita, professor in the Department of Agricultural and Biological Engineering at the University of Illinois and lead author…
The Entrepreneurial Mindset Henry Ford was an industrialist in America who founded the Ford Motor Company. His company developed and manufactured affordable automobiles which revolutionized the transportation industry in America. He is credited for mass production of cheap products coupled with better pay for the workers. His commitment to lowering the cost systematically resulted in several business innovations that led to the growth of the Ford Motor Company in North America and major towns of the other continents. Henry Ford was born in 1863 in Michigan. His father came from County Cork while his mother was born in Michigan by…
Studies reveal that the worker’s remittances are considering second largest source of finance in developing countries after foreign direct investment (FDI). The worker’s remittances are positive as well as significant with GDP growth and also playing an active role in Pakistan economy. Impact of financial sector on GDP growth is also positive and significant as trade openness and world growth GDP. Presently, Pakistanis earning their bread and butter abroad have sustained the flow of strong remittances, as they remained over $2 billion, to their families and friends in January, assisting Pakistan strengthen its foreign currency reserves and enhance its capacity…
The Government of Pakistan officials recorded in their report that not only population size but its characteristics also play a vital role in the development of country. Thus, with regards to the rising population in terms of age also in size, the capability of country for offering social protection, health care, education and other basic services such as housing, sanitation, water, food, becomes an issue. Our country is the fifth most populous country globally. According to the National Institute of Population Studies the estimated population of Pakistan in 2019 is 211.17 million. Hence, population density stands at 265 per km…
Naya Pakistan Certificates Naya Pakistan Certificates (NPCs) are sovereign instruments, denominated in USD and PKR, issued by Government of Pakistan for overseas Pakistanis. Resident Pakistanis who have declared assets abroad with FBR can also invest in USD-denominated NPCs. To do so, they can open a Roshan Digital Account in foreign currency by visiting a bank branch in Pakistan. Special Certificates:Special USD and PKR denominated bills issued by MOF and administered by SBP Different Tenors:3, 6, 12 month; 3, 5 year Early encashment allowed Fully Repatriable:No approvals required for remitting funds abroad Very attractive Risk-free returns:USD: 5.5, 6, 6.5%; 6.75, 7%…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Pakistan: Currency Rate As Per Open Market (Fri, Mar 05 2021) Currency Symbol Buying Selling Australian Dollar AUD 119.5 121.5 Bahrain Dinar BHD 402.8 404.8 Canadian Dollar CAD 122.5 124.5 China Yuan CNY 24.9 25.05 Danish Krone DKK 24.45 24.75 Euro EUR 186.75 188.75 Hong Kong Dollar…
Global Stock Market Trading U.S. stocks close sharply higher in volatile trade U.S. stock benchmarks rebounded sharply Friday afternoon in whipsaw trade, as the rise in bond yields steadied, after a stronger-than-expected monthly jobs update from the Labor Department that offered evidence of an economy recovering from the effects of COVID-19. All major sectors in the S&P 500 index gained while the tech-heavy Nasdaq climbed more than 1.5 percent as giants Amazon.com Inc. and Apple Inc. recovered but the index still closed lower for the week. The Dow Jones Industrial Average DJIA, +1.85 percent closed higher by 572.16 points, or…
Prime Minister Of Pakistan Presently the government of Pakistan record that fruits of prudent strategies of the incumbent government started producing their impacts as economic indicators moving towards optimistic sign. No doubt, COVID-19 is having a devastating impact on Pakistan’s economy; however, to ascertain the true extent, it is significant to take stock of economic presentation of Pre-COVID-19, fundamentally for two causes; to explore economic outcomes in relation to the policy environment adopted and second, what trajectory of economic recovery we expect post COVID-19. More recently sources record that Prime Minister Imran Khan called upon the Economic Cooperation Organisation (ECO)…
South Korea economy shrank in 2020 for first time in over two decades South Korea’s central bank says the country’s economy shrank for the first time in 22 years in 2020 as the coronavirus pandemic destroyed service industry jobs and depressed consumer spending. Preliminary data released by the Bank of Korea on Thursday showed the country’s gross domestic product last year contracted 1 percent from 2019. It was the first annual contraction since 1998, when South Korea was in the midst of a crippling financial crisis. The economy would have been even worse if not for the country’s technology exports,…
Lack of tonnage prevalent in the demolition market Alack of tonnage is becoming evident in the ship recycling market, as the firming up of the freight market has limited selling opportunities among ship owners. In its latest weekly report, shipbroker said that with owners still enjoying the fruits of the continued firm freight markets, particularly in the dry sector, the alarming lack of tonnage in the market gives a barren feel to discussions. There seems to be no stimulus at present, with the industry crying out for a spark which could ignite a flurry of transactions. The only glimmer of…
Heavy rain dampens Bangladesh rice production Heavy rain has impeded Bangladesh’s rice production for the 2020-21 marketing year, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA). Heavy rains and flooding in June and July 2020 led to a 15 percent rice crop loss, increasing rice prices in the second half of 2020. The USDA forecasts Bangladesh’s rice production to total 34.8 million tonnes in the 2020-21 marketing year, a 2.93 percent decrease compared to the previous year. Rice imports are expected to be 600,000 tonnes to replenish the country’s publicly held rice stocks and…
Most inspiring leader of all time Andrew Carnegie, a Scottish-American industrialist and the greatest philanthropist in this speech, is known to be the most influential person whose greatest contribution in expanding the American steel industry in 19th century makes him immortal. He donated his most fortune to establishing schools, Libraries and universities across the United States and Europe. He was a self-made man for his economic, cultural as well as intellectual developments. He is often considered to be the second richest man in the history after John D. Rockefeller. From his young age he would love to listen about famous…
Statistics identify that the exports of sports goods recorded a fall of 14.03 percent during the first 5-month of the ongoing fiscal 2020-21 as against to the exports of the same period of last year. Sources said that as the world of sports slowly reopens after a month-long hiatus, the Government of Pakistan otherwise is thriving sports industry which is struggling to recover from the hit it has taken from pandemic COVID-19 restrictions. Unluckily dozens of sprawling warehouses in the city of Sialkot are littered with millions of footballs, hockey sticks, cricket bats, tennis balls, and other games-related goods after…
International studies reveal that over the last 30 years, the postal sector has been undergoing a paradigm shift, from a relic of the industrial era to a facilitator of exchanges of goods and messages in the era of worldwide Internet connectivity. It is also said that the transformation has taken place from a perspective of both demand and supply. In this transition period, opportunities abound and various remain untapped. Besides adapting to the rapidly altering environment, postal strategy makers and operators have also driven these alters, first through separating posts from telecommunications, and then – mainly in industrialized states –…
PSL-Teams (2021) Peshawar Zalmi Karachi Kings Islamabad United Quetta Gladiators Lahore Qalandars Multan Sultans [divider style=”normal” top=”20″ bottom=”20″] Highest Totals In PSL Team Total Opponent Season Islamabad United 238/3 Lahore Qalandars 2019 Peshawar Zalmi 214/5 Islamabad United 2019 Lahore Qalandars 209/5 Quetta Gladiators 2020 Lahore Qalandars 204/4 Multan Sultans 2019 Quetta Gladiators 203/8 Lahore Qalandars 2016 [divider style=”normal” top=”20″ bottom=”20″] Highest Individual Score In PSL Batsman Runs Balls Opponent Venue Season South Africa Colin Ingram (KK) 127 59 QG Sharjah Cricket Stadium 2019 South Africa Cameron Delport (IU) 117 60 LQ National Stadium 2019 Pakistan Sharjeel Khan (IU) 117 62…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Currency rate as per open market in Pakistan (Feb 19 2021) Currency Symbol Buying Selling Australian Dollar AUD 122 124.5 Bahrain Dinar BHD 403.8 405.8 Canadian Dollar CAD 124 126 China Yuan CNY 24.95 25.1 Danish Krone DKK 24.7 25 Euro EUR 190.5 192.5 Hong Kong Dollar…
KSE-100 reverses bearish trend After receding for two successive days, the benchmark KSE-100 index of Pakistan Stock Exchange (PSX) reversed its trend on Friday and edged up about 80 points in topsy-turvy trading. The KSE-100 index opened up and continued to rise during the day as market participants remained optimistic. However, selling pressure emerged in the second half of trading, which wiped off most of the gains. Nevertheless, the KSE-100 managed to close in the green with some gains. At close, the benchmark KSE-100 index recorded an increase of 84.91 points, or 0.18%, to settle at 46,227.65 points. Overall trading…
PRIME MINISTER OF PAKISTAN PM thanks expats for success of RDAs Different sources record that remittances sent to the country by Roshan Digital Accounts (RDAs), the latest initiative of Prime Minister Imran Khan Government to attract more foreign exchange, witnessed good response from Pakistan’s diaspora as remittances crossed $500 million by this new channel. Imran Khan thanked Pakistanis working abroad for supporting the government’s initiative as the momentum is picking up with more and more people opening digital accounts. So far, it is said that overseas Pakistanis across 97 states have opened up nearly 88,000 Roshan Digital Accounts. These Accounts…
Japan’s economy performed better than expected in last quarter The world’s third-largest economy grew by an annualised 12.7 percent in October-December compared with the previous three months, government data showed on Monday, marking the second-straight quarter of expansion and exceeding a median market forecast for a 9.5 percent gain. The growth rate was a marked slowdown from a revised 22.7 percent surge in the previous quarter, when the economy got a lift from pent-up demand after a previous state of emergency was lifted in May. For a straight quarter-on-quarter comparison, gross domestic product (GDP) increased by 3.0 percent, the Cabinet…
Moody’s: global shipping industry’s strong performance in 2020 set to continue Although the container shipping industry was hit hard by the pandemic in the first half of 2020, the industry managed to stage a turnaround to become one of the best performing nonfinancial corporate sectors globally last year. There were three main reasons for this: disciplined capacity management by carriers which supported freight rates, low fuel costs and a quick rebound in demand in the latter part of the year. We believe that high demand and elevated freight rates will persist for at least the next six months and possibly…
Sugar prices to remain high on fall in production The Government of Pakistan may not succeed in bringing sugar prices down in the near future at least, as a leading sweetener producer said prices would remain high due to a notable drop in fresh production and a substantial increase in cost of production during the current season. “… sugar prices in the market will naturally remain on the higher side,” JDW Sugar Mills, owned by PTI stalwart Jahangir Khan Tareen, said in a report to the Pakistan Stock Exchange on Feb 2. “(The) government as usual wants the sugar industry…
Most inspiring leader of all time Matthew Boulton was a pioneer in manufacturing, he was far from wealthy; his father was a toy maker at the time of his birth. Matthew attended a local school and upon leaving; he joined his father’s business. At the age of 21yrs Matthew married Mary Robinson the daughter of a wealthy Mercer (Mercer; a silk, linen and fustian textile merchant). Eventually he took charge of his father’s business (1757) When his father died, he later gained interest in precious metals; leaving behind the toy trade altogether. With a new trade under his belt Matthew…
Statistics show that during July-December of fiscal year 2020-21, Pakistan has received $5.7 billion in external loans from multiple financing sources. Total inflows were 46 percent of the annual budget estimate of $12.2 billion for the ongoing fiscal year. In December, the Government of Pakistan received $1.2 billion in foreign loans, counting $434 million from commercial banks, which are the most expensive loans. Out of the $5.7 billion, an amount of $2 billion or 36 percent of the total loans were on account of foreign commercial loans. Researchers reveal that Pakistan over the years has failed to collect enough revenues…
No doubt, the Pakistan’s banking sector has played an important role in continuing the Pakistan’s economic system during pandemic, which can be mostly attributed to the digital banking revolution. The Government of Pakistan focuses towards the adoption of digital banking during the past year. Whether it was the easy, timely and secure transmission of monetary assistance to the underprivileged masses of the country. According to the State Bank of Pakistan (SBP), Pakistan banking sector deposits during 2020 grew by 22 percent to hit an 18-year high at Rs 17.876 trillion. Despite a significant rise in deposits, the banks failed to…
Credit/Loans Classified By Borrowers In Pakistan* (Million Rupees) Description Sep-20 (R) Oct-20(R) Nov-20(R) Dec-20(P) 1. Credit to Government Sector (A+B) 15,005,562 14,974,023 14,919,380 15,178,639 A. SBP Credit to Government Sector (Net) 6,244,544 6,329,892 6,126,305 5,941,522 Investment in Govt. Securities 7,076,025 7,109,127 7,172,331 6,975,812 Loans to Government 62,957 42,721 43,874 42,962 Others 9,789 9,789 9,789 9,789 Less: Govt. Deposits 904,227 831,745 1,099,689 1,087,041 B. Scheduled Banks Credit to Government Sector (Net) 8,761,018 8,644,130 8,793,075 9,237,117 Investment in Govt. Securities 10,294,844 10,176,018 10,344,995 10,826,372 Loans to Government 832,045 821,637 813,543 823,391 Less: Govt. Deposits 2,365,870 2,353,525 2,365,462 2,412,646 2. Credit to Non…
Market indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. FINANCIAL MARKET IN PAKISTAN Open Market Forex Rates In Pakistan (7/2/2021) Currency Buying Selling Australian Dollar 120 122 Bahrain Dinar 405.3 407.3 Canadian Dollar 123.5 124.5 China Yuan 24.9 25.05 Danish Krone 24.7 25 Euro 191 193 Hong Kong Dollar 17.6 17.85 Indian Rupee 2.17 2.24 Japanese Yen 1.55 1.58 Kuwaiti…
Sensex has a bumper week: surges nearly 4,500 points in just 5 days Indian stock markets extended gains to the fifty day with benchmark index Sensex rising 117 points after the Reserve Bank kept interest rates unchanged but continued its accommodative stance to revive growth. The 30-share BSE benchmark briefly crossed the 51,000 level, before ending 117 points higher at its fresh closing record of 50,731.63. Similarly, the 50-share NSE Nifty scaled the 15,000 mark during the day but shed some ground to close at its all-time closing high of 14,924, up 0.2 percent. In just five days, the Sensex…
PRIME MINISTER OF PAKISTAN *Imran Khan kicks off Covid-19 vaccination drive in Pakistan International sources record that various coronavirus (Covid-19) vaccines presently have now been approved for use, either through individual countries or groups of countries, like the European Union and the World Health Organization (WHO). Statistics show that of the 61 countries and territories administering vaccines and publishing rollout data, 45 are high-income nations, 16 are middle-income and none are low-income. More recently, the first Covid-19 vaccine was also administered in Pakistan, given to a healthcare worker in Islamabad. Prime Minister Imran Khan kicked off the vaccination drive, reminding…
Russia’s losing bet on China in a post-covid world Russia’s economy made out better than expected during the crisis last year. Aggregate GDP only dropped in the range of 3.5-4 percent despite worse forecasts. The Kremlin made do with relatively limited crisis spending measures, betting on China and other economies to recover quickly enough to isolate the economic damage instead. Although oil and natural gas – still Russia’s primary exports – took a shellacking until the last few months of the year, Moscow lucked out: A broad range of non-oil and gas commodities including gold entered a bull market by…
Bio-lng fuel seen as ‘prime pathway’ to carbon neutrality The gradual introduction of bio-LNG alongside synthetic LNG is expected to incrementally decarbonise shipping towards IMO’s 2050 target of reducing greenhouse gas (GHG) emissions by 50 percent compared to 2008 levels. In a recent report by SEA-LNG, it was noted that LNG as a marine fuel has moved from being a niche option to a mainstream fuel of the future. Instead of avoiding making a decision and waiting for technologies to develop in the future, LNG enables shipowners to reduce emissions now while protecting the future. The report noted the need…
US whole wheat flour output falls in 2020 Whole wheat flour production in 2020 totaled 20.12 million cwts, down 10 percent from 22.359 million cwts in 2019, according to data from the National Agricultural Statistics Service of the US Department of Agriculture. The production total was the smallest for any year since the USDA began tracking whole wheat production data 6 years ago. Whole wheat flour production has now fallen three consecutive years and four of the last five. The year-to-year drop of 2.119 million cwts in 2020 followed more modest production decreases of 104,000 cwts in 2019 and 176,000…
Most inspiring leader of all time Nelson Mandela International sources reveal that very few individuals personify dedication and patience like Nelson Mandela, South Africa’s first democratically elected President. Getting there was a story so epic that it was made into a Hollywood biopic in 2013. Much like Martin Luther King, Jr., Mandela was one of the great transformative civil rights leaders of the 20th century. Nelson Mandela not only directed peaceful demonstrations against the deeply racist South African government, he went on to claim the Nobel Prize in 1993 for assisting to end apartheid. Nelson Mandela was neither a politician…
Analysis of Economic Survey of Pakistan FY 2020 revealed that Liquefied Petroleum Gas (LPG) plays a significant role in the energy mix of the country as it offers a cleaner alternative to biomass-based sources, mainly in locations where natural gas is not available. LPG is gradually becoming popular domestic fuel among people who live in far-flung areas and where natural gas infrastructure does not exist. It an emerging sector of energy in the country and Oil and Gas Regulatory Authority (OGRA) is empowered to regulate the LPG sector under the OGRA Ordinance, 2002 and LPG (Production & Distribution) Rules, 2001…
The Government of Pakistan is preparing a latest automobile policy that will focus on facilitating the manufacturing of low-cost cars, as the present Auto Development Policy (ADP 2016-21) is about to end in June 2021. Sources recorded that about 45 percent of a car price that a buyer pays goes to the Government of Pakistan in the form of duties and taxes. The Government of Pakistan also charges duties on imported CKDs, which are the auto parts used in assembling cars. Statistics showed that the customs duty on import of localised parts is 45 percent. The duty on non-localised parts…