Apr 07 - 13, 2003  
ISSUE # 14  

Pakistan houses about 2.4 per cent of the world population but its share in the global pharma market is unproportionately low 0.31 per cent. Despite the low share, the Pakistani pharmaceutical industry, otherwise, is well developed not only to meet local demand but to also exports its products to over 90 countries last year.





Karachi may suffer a harsh summer this year in view of the limited power generating capacity of KESC, heavily loaded distribution network and a large number of illegal consumers through Kunda system. All these ills may result in unscheduled load shedding power breakdowns and frequent fluctuations. Government had promised an amount of Rs13 billion grant for refurbishing the distribution and transmission network, yet the first tranche is still awaited. One option to overcome power shortage is to expedite KESC-HUBCO link at the earliest.


During the first three months of current calendar year the listed companies have floated Term Finance Certificates (TFCs) amounting to over Rs 2,264 million rupees. The total amount of 50 listed TFCs at present exceeds Rs 26 billion. In the declining interest rate environment TFCs offer attractive return with lower risk to investment. Analysts hint towards a vibrant TFCs market. However, its growth is dependent on future movement of interest rates in the country.