Pakistan Stock Exchange Motivations

01/08/2022

25/04/2022

Meezan Bank Limited has recently outperformed Habib Bank Limited in terms of profitability in the first quarter of 2022, which concluded on March 31, 2022.

The bank made a profit of Rs. 9.2 billion in the first quarter of 2022, beating Habib Bank Limited, which made a profit of Rs. 8.5 billion in the same period.

The bank's profit was even close to UBL's, which ended the first quarter of 2022 with Rs. 9.3 billion in profit.

Meezan Bank's earnings increased by 50% year on year to Rs. 6.1 billion, compared to Rs. 6.1 billion in the same period last year. However, by the end of March 2022, the bank's earnings per share had risen from Rs. 3.75 to Rs. 5.66.

Additionally, the bank has been involved in a variety of financing schemes and has a major stake in government-issued Sukuks.

25/04/2022

According to the Pakistan Telecommunication Authority (PTA), the local manufacturing plants produced 7.16 million smartphones in the first three months of 2022. As per data displayed by PTA, the locally manufactured smartphones tally was 3.52 million in March against the commercial imports of 0.15 million handsets. Recently, Pakistan made history by exporting its first-ever smartphone consignment to the United Arab Emirates (UAE) under the ‘Manufactured in Pakistan’ tag.

The commercial import of mobile phones stands at 10.26 million in 2021 as compared to 24.51 million in 2020. Likewise, the locally manufactured smartphones numbered 24.66 million in 2021 as compared to 13.05 million in 2020, which is almost an 88 percent increase indicating robust local smartphone manufacturing policies.

However, despite the increase in the local production of mobile phones, mobile phones worth $1.596 billion were imported during the first nine months (July-March) of 2021-22 as compared to $1.535 billion during the same period last year. PTA also revealed that out of 7.16 million smartphones manufactured in the first three months, 4.33 million were 2G devices while the other 2.83 million were 3G and 4G smartphones.

11/04/2022

28/02/2022

Pakistan’s total debt and liabilities (domestic and external) stocks surged to an all-time high level of Rs 51.724 trillion at the end of December 2021.

According to the State Bank of Pakistan (SBP), the federal government’s total debt stocks rose by 8 percent during the first half of this fiscal year (FY22). The central government’s domestic and external debt stocks increased by Rs 3.893 trillion to a new peak level of Rs 51.724 trillion in December 2021 compared to Rs 47.931 trillion in June 2021.

Economists said that continued borrowing from domestic and external resources for financing the fiscal deficit is increasing the country’s debt burden.

During the period under review, the major increase was recorded in the external debt, which rose by 20 percent. The federal government’s external debt surged to Rs 21 trillion in December 2021 up from Rs 17.846 trillion in June 2021, depicting an increase of Rs 3.518 trillion in the first half of this fiscal year.

16/11/2021

According to worldwide media statistics, Pakistan has surpassed China in denim garment exports to the United States (US).

An India-based textile trade newspaper, Pakistan’s annual cotton-made garment exports to the United States reached $276 million ($275.89 million) from January to September 2021, beating China’s $274.63 million, as per Apparel Resources

This represents a 63.40 percent increase over the same period previous year, when Pakistani shipments to the US were $168.85 million, compared to $238.75 million for China.

However, despite the limits imposed by the COVID-19 outbreak, this was made possible by the Biden administration’s business-friendly policies.

10/10/2021

The Pakistani government has decided to seek investment from China for PARCO coastal refinery and petrochemical complex, a national daily reported.

Pakistan has sought investment from China for becoming a shareholder in the state-of-art complex to be built at Hub, Balochistan, to the tune of $8-9 billion, the news report added.

Pakistan has also asked China to invest in other projects in this sector, including up-gradation of existing refineries, setting up of underground gas storages, and exploration and production activities.

19/09/2021

The Pakistan Telecommunications Authority (PTA) has launched a new automated system to block "lost, stolen, and snatched mobile phones."

According to the PTA, users can send an application through the Lost & Stolen Device System (LSDS) to block the International Mobile Equipment Identity (IMEI) of their mobiles, which would be blocked within 24 hours of the complaint's registration "after necessary verification."

Requests to block the IMEIs should be made in order to prevent mobile phones from "potential misuse", the PTA wrote on Twitter. "The complainant will receive a complaint reference number upon successful registration of blocking request," it added.

In addition, the same procedure must be followed if the phone has been recovered. Users should "mention their complaint reference number along with other mandatory details that was given to them earlier for blocking of mobile phone."

"User will receive an SMS on the registered number once the mobile phone is unblocked," it stated.

18/09/2021

Argentina plans to purchase 12 JF-17 Thunder aircrafts from Pakistan, it emerged.

The news was revealed by Pakistan Strategic Forum on Twitter, stating that the South American country has officially included $664 million in funding for the purchase of fighter jets in a draft budget for 2022 presented to its Parliament.

The Argentine Air Force has selected Pakistan’s JF-17 Thunder, rejected offers from Russia, USA and India.

“The 12 JF-17s will include 10 single seater Block IIIs and 2 dual seat Block IIIs,” the forum said in a tweet.

“The PAC JF-17A Block III is a supersonic, multirole 4+ generation fighter aircraft able to perform combat air patrol, air interdiction, beyond visual range integrated battle, long range maritime strikes, standoff range precision ground strikes, anti radiation SEAD/DEAD missions and electronic warfare,” it added.

The two nations have had friendly ties for a while as Argentina has been supported the resolution put forward by Pakistan on the right to self-determination which is debated annually at the General Assembly of the United Nations.