Day: October 5, 2021

Mobilink Microfinance Bank Limited (MMBL) has put forth it’s 9 point agenda for the future of financial inclusion covering far-reaching and research-based recommendations in the areas of diversity & inclusion, microfinance, SME finance, housing finance, agriculture finance, digital lending, payments, savings, and insurance. The 9 point agenda was formally launched by President & CEO, Mobilink Microfinance Bank, Ghazanfar Azzam, in the presence of dignitaries from State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Pakistan Microfinance Network (PMN), Jazz Pakistan, VEON and the media. Speaking at the…

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Chinese companies are reportedly reluctant to engage in the second phase of the China-Pakistan Economic Corridor (CPEC) due to failure to meet the terms and conditions agreed with existing companies especially in power sector and has bandied charges of enticement. Background interviews with officials dealing with Chinese companies, discussions at a recent high level Joint Working Group of Pakistani and Chinese officials meeting as well as available documents paint a depressing picture. According to sources, the representatives of Chinese companies which have established power projects in Pakistan under CPEC maintain…

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A year ago, the oil industry was struggling to stay afloat, with OPEC producers being told they were becoming increasingly irrelevant in a world set on a renewable energy path. Fast forward to today, and analysts are talking about crude oil reaching $100 before the year ends. Now, even if OPEC and its allies wanted to help those who find the current prices too steep, they may not be able to. Earlier this year, the cartel and its allies, led by Russia, decided to return 400,000 bpd to global supply…

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The losses of four power distribution companies (DISCOs) including Hyderabad, Peshawar, Sukkur and Quetta Electric Supplies Companies have increased during 2020-21. According to State of Industry Report published by power regulator NEPRA, HESCO, PESCO, SEPCO and QESCO reported highest losses with 38.55%, 38.18%, 35.27% and 27.9% losses respectively. While the losses of Tribal Electric Supply Company (TESCO), Gujranwala Electric Supply Company (GEPCO), Faisalabad Electric Supply Company (FESCO), Multan Electric Power Company (MEPCO), Lahore Electric Supply Company (LESCO) and Islamabad Electric Supply Company (IESCO) remained 9.58%, 9.23%, 9.28%, 14.93%, 11.96% and…

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FY21 was a treat for the cement industry. Booming demand (dispatches grew by 10 million tons in just one year; up 21%), substantially improved retention (average revenue per ton sold grew between 20 and 30% for most cement players situated in the north zone and 4-15% for those in the south zone), fixed costs absorption, tamed overheads and shrunk finance costs turned an industry that was in losses last year cumulatively become profitable with profit margins going into double-digits. But all this was despite the looming cloud of rising coal…

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