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Site update: October 15 2018, at 17:00 PKST
Stock update: October 15 2018.

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Monday, October 15 2018

Uncertainty wipes $41b off PSX capitalisation
KARACHI: From an uncertain political climate, Pakistan has transitioned to what can be called a relatively stable environment. However, this 180-degree shift has come at a hefty cost as the country and its stock market have suffered heavily. The real economy has taken a massive hit from the political developments. Resultantly, the International Monetary Fund (IMF) has anticipated that Pakistan’s economic growth will be below 3% in the current fiscal year 2018-19 compared to a 13-year high growth of 5.8% in fiscal year 2017-18. The Pakistan Stock Exchange (PSX), a barometer to gauge the country’s economic performance, has continued to reflect sad stories of economic stress since the political drama took centre stage, beginning with the Panama Papers leaks.
Related news categories: business economic-indicators ise kse lse misc psx stock-exchanges

Window narrowing for global economy, warns IMF
NUSA DUA / INDONESIA: The window of opportunity for safeguarding global growth is “narrowing” as trade disputes deepen and emerging markets face fiscal crisis, the IMF said on Saturday, warning countries against worsening things by weaponising currency and interest-rate policies. US Treasury Secretary Steven Mnuchin had downplayed the global concerns expressed at an International Monetary Fund meeting held this week in Bali under the shadow of US-China tensions, saying the world would benefit if Beijing is forced to change its trade policies.
Related news categories: business misc

Gas pipelines necessary to save economy from collapse
ISLAMABAD: Gone are the days when the world was heavily dependent on oil as market dynamics are changing fast and gas has occupied a prominent place in geopolitics across the world. Gas does not meet the entire energy requirement of many countries, but these nations and others still rely on each other for gas supply and are compelled to cooperate. So, gas provides an energy alternative for the countries that are dependent on oil only. Pakistan is one such country which once heavily banked on oil to satisfy its energy appetite, but started gas imports during the tenure of previous Pakistan Muslim League-Nawaz (PML-N) government. For decades, Saudi Arabia is considered to have influenced Pakistan’s foreign policy in return for providing Islamabad with vital oil supplies. After the current Pakistan Tehreek-e-Insaf (PTI) government took the reins of power, Prime Minister Imran Khan too visited Riyadh, which tried to use oil diplomacy to keep Pakistan away from Iran.
Related news categories: business economic-indicators misc oilgas-marketing

Ethanol – a solution to Pakistan’s power woes
ISLAMABAD: With biofuels replacing non-renewable energy sources including petroleum products, coal, etc, the creation of biofuel feedstock from forest and agriculture has been considered as a long-term source of energy. The shift to biofuels and further research and development work remains a subject matter that is indeed linked to factors like increase in oil costs alongside growing concern over carbon dioxide discharge, environmental degradation, global warming and climate change. Carbon dioxide/greenhouse gas emissions, generated from the burning of fossil fuels, are increasing in Third World societies like Pakistan.
Related news categories: business misc

Global oil price volatility may add to trade deficit woes
KARACHI: One of the most daunting tasks for the government today is to reduce the external trade deficit. According to data released by the Pakistan Bureau of Statistics (PBS), the trade deficit in August 2018 was $2.98 billion, which was less than the deficit for July 2018 and August 2017, when the gap was $3.19 billion and $3.06 billion respectively. The month-on-month decrease in August 2018 was 6.8% and the year-on-year dip was 2.87%. The cumulative deficit in the first two months (July and August) of FY19 was $6.17 billion. In the same period of FY18, the deficit was $6.25 billion.
Related news categories: business economic-indicators misc oilgas-marketing helpline: +92-42-3631-4186 (10:30am to 5:30pm)