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The Determinants of Capital Structure of the Chemical Industry in Pakistan
The Lahore Journal of Economics 13 : 1 (Summer 2008): pp. 139-158 The Determinants of Capital Structure of the Chemical Industry in Pakistan Muhammad Rafiq∗, Asif Iqbal∗∗, Muhammad Atiq∗∗∗ Abstract This study is an attempt to determine the capital structure of listed firms in the chemical industry of Pakistan. The study finds that by studying a specific industry's capital structure, one can ascertain unique attributes, which are usually not apparent in the combined analysis of many sectors as done by Shah and Hijazi (2004). This study analyzed 26 of 39 firms in the chemical sector, listed at the Karachi Stack Exchange for the period 1993-2004 using pooled regression in a panel data analysis. Six regressors i.e. firm size, tangibility of assets, profitability, income variation, non-debt tax shield (NDTS) and growth were employed to examine their effects on leverage. The results show that these six independent variables explain 90% of variation in the dependent variable and, except for firm tangibility, results were found to be highly significant. The study has policy implications of importance for researchers, investors, analysts and managers. JEL Classification: C13, C23, C51, L65 Keywords: Chemical, Panel Data, Karachi Stock Exchange, Pakistan 1. Introduction A firm can combine different proportions of debt and equity in an attempt to increase the market value of the firm and is recognized as capital structure of the firm. Firms differ with respect to capital structure which has given birth to different capital structure theories in an attempt by researchers to explain variation in capital structure over time or across regions. -
Corporate Ideologies: a Linguistic and Semiotic Analysis of Manifestos and Logos of Cellular Networks in Pakistan
CORPORATE IDEOLOGIES: A LINGUISTIC AND SEMIOTIC ANALYSIS OF MANIFESTOS AND LOGOS OF CELLULAR NETWORKS IN PAKISTAN By IFFAT SARDAR NATIONAL UNIVERSITY OF MODERN LANGUAGES ISLAMABAD April 2018 Corporate Ideologies: A Linguistic and Semiotic Analysis of Manifestos and Logos of Cellular Networks in Pakistan By IFFAT SARDAR M. A., Fatima Jinnah Women University Rawalpindi, 2009 A THESIS SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF PHILOSOPHY In English (Linguistics) To FACULTY OF LANGUAGES National University of Modern Languages, Islamabad © Iffat Sardar, 2018 iii THESIS AND DEFENSE APPROVAL FORM The undersigned certify that they have read the following thesis, examined the defense, are satisfied with the overall exam performance, and recommend the thesis to the Faculty of Languages for acceptance: Thesis Title: Corporate Ideologies: A Linguistic and Semiotic Analysis of Manifestos and Logos of Cellular Networks in Pakistan Submitted By: Iffat Sardar Registration #: 1061- MPhil/ Eng/ F15 Master of Philosophy Degree name in full English Linguistics Name of Discipline Dr. Ansa Hameed __________________________ Name of Research Supervisor Signature of Research Supervisor Prof. Dr. Muhammad Safeer Awan __________________________ Name of Dean Signature of Dean Brig. Muhammad Ibrahim __________________________ Name of Director General Signature of Director General ___________________________ Date iv AUTHOR’S DECLARATION I Iffat Sardar Daughter of Allah Ditta Registration # 1061- MPhil/ Eng/ F15 Discipline English Linguistics Candidate of Master of Philosophy at the National University of Modern Languages do hereby declare that the thesis Corporate Ideologies: A Linguistic and Semiotic Analysis of Manifestos and Logos of Cellular Networks in Pakistan submitted by me in partial fulfillment of MPhil degree, is my original work, and has not been submitted or published earlier. -
Habib Metropolitan Bank Limited 2
The Pakistan Credit Rating Agency Limited Rating Report Report Contents 1. Rating Analysis Habib Metropolitan Bank Limited 2. Financial Information 3. Rating Scale 4. Regulatory and Supplementary Disclosure Rating History Dissemination Date Long Term Rating Short Term Rating Outlook Action Rating Watch 25-Jun-2021 AA+ A1+ Stable Maintain - 26-Jun-2020 AA+ A1+ Stable Maintain - 27-Dec-2019 AA+ A1+ Stable Maintain - 27-Jun-2019 AA+ A1+ Stable Maintain - 27-Dec-2018 AA+ A1+ Stable Maintain - 28-Jun-2018 AA+ A1+ Stable Maintain - 30-Dec-2017 AA+ A1+ Stable Maintain - 23-Jun-2017 AA+ A1+ Stable Maintain - 23-Jun-2016 AA+ A1+ Stable Maintain - Rating Rationale and Key Rating Drivers The ratings of Habib Metropolitan Bank (HabibMetro) is vested in the brand strength of the Bank, flanked by a family of astute bankers. The Bank is also associated with a diversified and financially strong international bank - Habib Bank AG Zurich (HBZ). This association helps in assimilating the parent's best practices into HabibMetro, while fostering control environment with enhanced level of oversight. The Bank has a formidable presence in the trade business of Pakistan. The benefits continue to accrue in terms of non-markup income. The Bank has a strong forte in the business hub of Pakistan in terms of its presence and contribution of deposits and advances. The Bank grew its customers deposit base by 19.5%, wherein it enhanced its current account deposits by 25.7%, higher than the sector's growth. The Bank continues to remain focused on improving its deposit mix. The Bank’s emphasis in terms of its loan portfolio is evident by the growth of 18.6% in net advances, led by its presence in textile and commodity finance segments. -
The F Ederalisation of Cooperative Banking in Pakistan and Rural Cooperatives in Punjab Province
Institute of Social Studies The F ederalisation of Cooperative Banking in Pakistan and Rural Cooperatives in Punjab Province Farooq Haroon Occasional Paper No. 103 The F ederalisation of Cooperative Banking in Pakistan and Rural Cooperatives in Punjab Province Farooq Haroon January 1986 Institute of Social Studies The views expressed in this publication are those of the author and not necessarily those of the Institute of Social Studies. © Institute of Social Studies The Hague, 1986 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permis sion of the copyright owner. ISBN 90-6490-020-5 . Printed in The Netherlands 1. INTRODUCTION Pakistan The creation of Pakistan on 14 August 1947 was the result of the irresistible and massive pressure of Muslim nationalism. The British colonial govern ment, despite its initial reservations on the practicability and soundness of the demand, came around to the viewpoint of the Muslims and agreed to partition India. The Pakistan that came into being had two geographical units separated by 1,600 miles ofIndian territory. The Eastern Wing became the independent Republic of Bangladesh at the end of 1971. Pakistan now comprises the West Wing of the Pakistan created in 1947. The territory of Pakistan now covers 796,095 square kilometres. It borders on Iran to the southwest, Afghanistan to the northwest and India to the east. The southern border is the coast of the Arabian Sea. In 19~1, the estimated population was 83.78 million. -
Chapter 5.2: Tourism Development
PUNJAB ECONOMIC | REPORT national GDP in 2015. If we include indirect and induced eects of tourism, the contribution of the sector increases to Tourism Development PKR 1,918.5 bn or almost 7 percent of GDP. Domestic tourism in a country tends to precede international tourism. More than 45 million domestic tourists travel 5.2.0 Introduction each year across Pakistan.2 As per World Travel and Tourism Council estimates, in the year 2015, domestic travel spend- ing in Pakistan claimed 90.8 percent of direct travel and tourism GDP. Domestic travel spending is expected to grow by Pakistan is endowed with immense geographical beauty with an equally rich and diverse tapestry of cultural heritage in 3 percent in 2016 to more than PKR 1 trillion and rise by 5.3 percent per annum to almost two trillion rupees in 2026. every province. Notwithstanding that, for a host of factors, the performance and state of tourism in the country is much lower than its potential, especially if compared to similar countries. Direct contribution of tourism towards Pakistan’s e gures below show Pakistan’s relative positioning in tourism export. Both gures clearly indicate that Pakistan is not GDP was PKR 793.0 bn in 2016, this is equivalent to 2.7% of GDP, which is a mere fraction of the sector’s potential.1 competitive as spending by foreigners is less than the comparator group countries shown. Pakistan’s international tourist Now that tourism is a provincial subject, there exists a great opportunity for Punjab to formulate an eective and ecient receipts (excluding travel) as percentage of GDP are the lowest when compared to the world average, India and South institutional framework to unravel the tourism potential of the province to the fullest. -
Pakistan's Islamic Banking Sector Review
Pakistan’s Islamic Banking Sector Review 2003 to 2007 ISLAMIC BANKING DEPARTMENT STATE BANK OF PAKISTAN Table of Contents 1. Vision & Mission Statements of State Bank of Pakistan (SBP) ................................................ III 2. Vision & Mission Statements of Islamic Banking Department of SBP.................................... III 3. Governor’s Message ...................................................................................................................... IV 4. Foreword ........................................................................................................................................ VI 5. Executive Summary .................................................................................................................... VII 6. Future Outlook .............................................................................................................................. IX 7. Brief Historical Perspective on Islamic Banking Initiatives in Pakistan ................................... 1 7.1 Steps for Islamization of Banking and Financial System in 1980s ............................................ 1 7.2 Brief Evaluation .......................................................................................................................... 2 7.3 Post Judgment Measures ............................................................................................................. 3 7.4 Policy Decision .......................................................................................................................... -
Impact of China Pakistan Economic Corridor
Impact of China Pakistan Economic Corridor Muhammad Aqeel (16546) Förnamn DegreeEfternamn Thesis BBA International Business 2016 DEGREE THESIS Arcada Degree Programme: BBA International Business Identification number: 5400 Author: Muhammad Aqeel Title: Impact of China Pakistan Economic Corridor (CPEC) Supervisor (Arcada): Siv Relander Commissioned by: Abstract: The work of this thesis primarily revolves around the concept of logistics’ shipping cost and transit time. China needs a short, safe and inexpensive trading route to European and Middle Eastern countries. The aim of the study is to verify if CPEC is a viable solution to the need. The study analyzes the impact of China Pakistan Economic Corridor (CPEC) on trade in terms of the shipping costs and transit time. Transport and infrastructure are called strategic levers of trade as they help in reducing the shipping costs and transit time. In the modern era, organizations want to reduce the shipping costs and transit time to maximize profit and ensure timely delivery of product. The focal point of the thesis is to study the importance of CPEC and its impact on import and export in terms of costs and transit time. Besides, this study compares existing route with proposed route. The re- search methodology used in the study follows qualitative and descriptive approach. In this study, dry port Kashgar (western China) has been taken as origin and three ports of each European and Middle Eastern countries are taken as destinations. The destination ports which have been selected in this study are key trading players with the port of origin. The selected European ports (Hamburg, Le Havre and Rotterdam) share huge trading volume with China. -
Communication Sector Study
Communication Sector Study ©The Pakistan Credit RatingAgency Limited May 2021 TableOMC | Global Market of Contents Contents Page No. Contents Page No. Overview 1 Business Risk | Investment 15 Global Industry | Overview 2 Financial Risk 16 Global Industry | Market Trends 4 Rating Curve 17 Services | Overview 5 Regulatory Mechanisms 18 Industry | Snap Shot 6 SWOT analysis 19 Local Industry | Contribution to 7 Impact After Covid 19 20 National Exchequer Outlook 21 Local Industry | Supply 8 Bibliography 22 Local Industry | Demand 10 Business Risk |Revenue 12 Business Risk | Average Revenue per 13 User Business Risk 14 Communication Overview • Definition: The communication sector is made up of companies that make communication possible on a global scale, whether it is Internet through the phone or the Internet, through airwaves or cables, Service through wires or wirelessly. These companies created the Providers infrastructure that allows data in words, voice, audio, or video to Cable Wireless be sent anywhere in the world. System Carriers Operators • Not long ago, the communications sector consisted of a club of big national and regional operators. Since the early 2000s, the industry has been swept up in rapid deregulation and innovation. In many countries around the world, government monopolies are now Composition of privatized and they face a plethora of new competitors. Satellite the Sector Telephone Operators companies • Communication plays an important part in daily lives of people todays. It is an essential component of every walk of live ranging from education, business to entertainment. The sector has witnessed many innovations and improvement over the periods Suppliers Software Telecommu and increased competition further fueling the innovation. -
Pakistan Banking Perspective 2021
KPMG Taseer Hadi & Co. Chartered Accountants Pakistan Banking Perspective 2021 June 2021 — home.kpmg/pk COLOURS0 / 51 / 141 0 / 94 / 184 0 / 145 / 218 72 / 54 / 152 71 / 10 / 104 109 / 32 / 119 0 / 163 / 161 0 / 154 / 68 67 / 176 / 42 234 / 170 / 0 246 / 141 / 46 188 / 32 / 75 198 / 0 / 126 117 / 63 / 25 155 / 100 / 46 157 / 147 / 117 227 / 188 / 159 227 / 104 / 119 Pakistan Banking Perspective | 2021 Foreword Alhamdulillah, we are beginning to resilience to face the future see a gradual and phased return to developments in banking. During this normalcy with renewed confidence time of rapid developments, and optimism. embracing Environmental, Social and Governance (ESG) agenda is of We are delighted to introduce our immense importance to ensure annual Pakistan Banking perspectives investor confidence in the banking report for the year ended 31 sector in the long-run. December 2020 that analyses the financial results for leading listed Our source of information remain the commercial banks across Pakistan, published financial statements and comparing these with the previous views expressed do not constitute year. This report provides banking advice. industry leaders with brief analysis, We believe this report is insightful comparing banking sector key and a thought-provoking read. We performance indicators and furnishes would be delighted to discuss with forward-looking views and insights you the views outlined within it and from our professionals and industry explore how we could assist your leads. organization in capitalizing on For the first time in this publication potential opportunities. Thank you series, we are proud to include an for your support as we take yet interview with a sector leader about another step forward in our exciting the existing challenges and future client service journey. -
Cotton Processing and Spinning Industry in Pakistan: a Case Study of Lyallpur City Hamid Iqbal 1 Dr
Pakistan Social Sciences Review P-ISSN 2664-0422 December 2018, Vol. 2, No. 2 [01-19] O-ISSN 2664-0430 RESEARCH PAPER Cotton Processing and Spinning Industry in Pakistan: A Case Study of Lyallpur City Hamid Iqbal 1 Dr. Abdul Qadir Mushtaq 2 Robina Khan 3 1. M. Phil Scholar, Department of History & Pakistan Studies, Govt. College University Faisalabad, Punjab, Pakistan 2. Assistant Professor, Department of History & Pakistan Studies, Govt. College University Faisalabad, Punjab, Pakistan 3. Ph. D Scholar Department of Political Science & IR Govt. College University Faisalabad, Punjab, Pakistan PAPER INFO ABSTRACT Received: This study explores the growth of cotton processing and May 14, 2018 spinning industry in Lyallpur. Cotton industry was established Accepted: by British government especially in Lyallpur which was August 31, 2018 renowned as the greatest industry of Pakistan. Cotton the white Online: gold enhanced the position of spindles and spinning industry. December 30, 2018 These industries played important role in the economy of Keywords: Pakistan generally and especially in Lyallpur, a city of Punjab. Cotton, Spinning, Library research has been used to analyze the growth of cotton Economy, processing and spinning industry in Lyallpur. Primary and Development, secondary sources were used to draw a rational conclusion. This Industry study observed that due to vague strategy of governments the Corresponding cotton industry faced problems in growth. Heavy taxes were Author: imposed on production of cotton industry and many taxes were robinakhan101@o also imposed on the imports of industrial machinery. This study utlook.com recommends that government should reserve a special budget for industry. Machinery and industry must be given rebate on imports and exclusion of taxable income. -
Market Systems Analysis for Afghan Refugees in Pakistanpdf
MARKET SYSTEMS ANALYSIS PAKISTAN Market Systems Analysis for Afghan Refugees in Pakistan MARKET SYSTEMS ANALYSIS PAKISTAN Market Systems Analysis for Afghan Refugees in Pakistan iii Copyright © International Labour Organization 2018 First published (2018) Publications of the International Labour Office enjoy copyright under Protocol 2 of the Universal Copy- right Convention. Nevertheless, short excerpts from them may be reproduced without authorization, on condition that the source is indicated. For rights of reproduction or translation, application should be made to ILO Publications (Rights and Licensing), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: [email protected]. The International Labour Office welcomes such applications. Libraries, institutions and other users registered with a reproduction rights organization may make copies in accordance with the licences issued to them for this purpose. Visit www.ifrro.org to find the reproduction rights organization in your country. ISBN: 978-92-2-031227-8 (print) ISBN: 978-92-2-031228-5 (web pdf) The designations employed in ILO publications, which are in conformity with United Nations practice, and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the International Labour Office concerning the legal status of any country, area or territory or of its authorities, or concerning the delimitation of its frontiers. The responsibility for opinions expressed in signed articles, studies and other contributions rests solely with their authors, and publication does not constitute an endorsement by the International Labour Office of the opinions expressed in them. Reference to names of firms and commercial products and processes does not imply their endorse- ment by the International Labour Office, and any failure to mention a particular firm, commercial product or process is not a sign of disapproval. -
Banking Survey 2016
kpmg KPMG Taseer Hadi & Co. Chartered Accountants Banking Survey 2016 Commercial Banks Operating in Pakistan © 2017 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. p Banking Survey 2016 © 2017 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent ii member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Banking Survey 2016 This survey has been prepared by KPMG Taseer Hadi & Co. and summarizes the performance of selected commercial banks in Pakistan for the year ended 31 December 2016. Banking sector in Pakistan has been divided in four categories for the purpose of this survey to facilitate comparison of peer groups: I. Large Banks: Total assets in excess of Rs. 900 billion. II. Medium size Banks: Total assets in excess of Rs. 150 billion but less than Rs. 900 billion. III. Small Banks: Total assets less than Rs. 150 billion. IV. Islamic Banks: All banks carrying out Islamic banking activities only. “Islamic Banks” have been presented as a separate category and included in their respective category of Medium and Small Banks based on total assets threshold. Further, summarized financial information of “Islamic Banking Branches of Conventional Banks” has also been presented to have an idea about size of Islamic Banking in Pakistan. Reference should be made to the published financial statements of the banks and definitions included in this survey to enhance the understanding of ratios and analysis of performance of a particular bank.