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1 (31St Session) NATIONAL ASSEMBLY SECRETARIAT
1 (31st Session) NATIONAL ASSEMBLY SECRETARIAT ———— “QUESTIONS FOR ORAL ANSWERS AND THEIR REPLIES” to be asked at a sitting of the National Assembly to be held on Thursday, the 1st April, 2021 33. *Mr. Muhammad Afzal Khokhar: (Deferred during 28th Session) Will the Minister for National Health Services, Regulations and Coordination be pleased to state: (a) whether Government has taken notice that buying power of public at large of medicines is significantly decreased since the inception of the incumbent Government; if so, the details thereof; (b) what steps are being taken by the Government to decrease the prices of medicines forthwith; and (c) average prices of essential / life saving medicines as on May, 2018 and detail of prices at present? Minister for National Health Services, Regulations and Coordination: (a) Federal Government and Drug Regulatory Authority of Pakistan are cognizant of the impact of increase in prices of drugs and it has been tried at best to allow increase at minimum level as compared to increase in manufacturing/import cost of drugs. Its impact is much lesser than non availability of drugs. Prices of drugs are mostly lower in Pakistan as compared to average prices in the region i.e. Bangladesh, Srilanka and India. (b) Following steps have been taken to reduce prices of medicines:— 2 (i) Regulation imposed: Drug Regulatory Authority of Pakistan, with the approval of Federal Cabinet notified a Drug Pricing Policy2018 which provides a transparent mechanism for fixation, decrease & increase in MRPs of drugs. (ii) Reduction in MRPs of drugs: Maximum Retail Prices (MRPs) of 562 drugs have been reduced and notified after approval by the Federal Government. -
Exd Company Profile
Company Profile AGENDA 01Su ExD - At a Glance 02Su SAP 03Su Oracle 04Su Digital 05Su Outsourcing 06Su Optimisation 07Su Core Values At a Glance Technology Services Outsourcing Services Optimization Services ■ ERP ■ IT Outsourcing ■ Technology Selection • SAP S/4HANA • IT/HR/Finance Organization ■ Business Process Reengineering • SAP Business One • IT Support Helpdesk ■ Change Management • SAP Business By Design • Software Development ■ System Audit & Review • SAP C/4HANA • Infrastructure Management ■ IT Organization Design • SAP Ariba • E-commerce ■ Development of IT Strategy • SAP SuccessFactors • Digital Media Marketing ■ IT Procurement Services • SAP Fiori • SAP Analytics ■ Accounting ■ IT Contract Negotiation • Oracle EBS • Back office services ■ TCO Reduction • Oracle Cloud ■ Training ■ Offsite Support • IFS • Help Desk (http://support.exdnow.com/) ■ Digital ■ Onsite Support • Secondary Sales Solution • Dedicated Resources • Big Data Analytics • E-commerce (Shopify/Magento) • On call basis • AI Chatbot Office Locations Office Locations Offices Opening Soon Karachi Lahore Toronto Islamabad Melbourne Denver Kuala Lumpur Dubai Riyadh Doha Awards FASTEST GROWING PARTNER 2011 Awards Recognitions INFORMATION ECONOMY REPORT The Software Industry & 2012 Developing Countries ExD was highlighted in the UNCTAD Information Economy Report 2012 from United Nations. Partners Our Customers Nishat Chunian Group Wateen Telecom Our Customers – List ▪ WASCO, Saudi Arabia ▪ Ghani group ▪ Saudi Electric Services Polytechnic, Dammam, Saudi Arabia ▪ Pepsico -
894) 3552/2017 Const. P. Master Motor Corp
IN THE HIGH COURT OF SINDH AT KARACHI Before: Muhammad Ali Mazhar and Agha Faisal, JJ. C P D - 3552 of 2017 Master Motor Corporation (Pvt.) Limited vs. Federation of Pakistan & Others C P D - 1264 of 2018 Master Motor Corporation (Pvt.) Limited vs. Federation of Pakistan & Others For the Petitioner: Barrister Abid Shahid Zuberi Barrister Ayan Mustafa Memon (in CP D-1264 of 2018) Barrister Ravi R. Pinjani (in CP D-3552 of 2017) For the Respondent No. 1: Sheikh Liaquat Hussain Assistant Attorney General (in both petitions) For the Respondent No. 2: Mr. Asim Ayaz Deputy General Manager Incharge (Policy) Engineering Development Board (in both petitions) For the Respondent No. 3: Mr. Mukesh Kumar G. Karara Advocate (in both petitions) Dates of Hearing: 31.10.2018, 13.11.2018 & 23.11.2018. Date of Announcement: 12.02.2019 JUDGMENT Agha Faisal, J: The subject petitions filed by the common petitioner, being a company engaged in the assembling and manufacturing of motor vehicles, have assailed the conferment of greenfield status upon 2 the respondent No.3 (“FJW”) herein, being a company incorporated with the objective of assembling / manufacturing motor vehicles, on the ground that the award of such status was not in consonance with the Automotive Development Policy 2016-21 (“Auto Policy”). Since similar questions of law and fact are agitated vide the subject connected petitions, hence, both the petitions shall be decided through this common judgment. 2. Barrister Abid Shahid Zuberi set forth the case of the petitioner (“MMC”), which arguments were also adopted by Barrister Ravi Pinjani, and argued that greenfield status could only be conferred upon assemblers who introduced a new brand into the market, hitherto alien to the public at large. -
Daily Call REP- 300 March 9, 2018 Millat Tractors Limited Automobile Assemblers Ploughing the Future
Daily Call REP- 300 March 9, 2018 Millat Tractors Limited Automobile Assemblers Ploughing the Future 1 BUY MTL: Target Price revised upward by 9.1% to PKR 1,604/share We revise upwards our DCF-based Dec’18 TP of Millat Tractors Limited to PKR Target Price 1,604.4 1,604/share (earlier 1,470/share). Our review thesis is hinged upon i) Higher than Last Closing 1,375.1 expected volumetric growth convinced us to review our volumetric assumption to 39,015 Upside (%) 16.7 units including exports units (previous assumption was 37,635 units), ii) Increase in 1-2% PSX Code MTL of selling prices of all the variants from Dec’17, iii) Low dependency on imported raw Bloomberg Code MTL PA material which allows gross margins to remain firm; currently localization level is between Shares 85% to 90% depending on different variants, and iv) We expect the budget to be farmer focused, agriculture and rural oriented which will allow the company to continue growth at Market Cap (USD m) 554 the same pace. Based on our thesis, a 17% upside potential is available based on the Outstanding Shares (m) 44.3 scrip’s last closing and we recommend a “BUY”. Currently the stock is trading at a FY18E Free Float (%) 50.0 PE multiple of 12.2x. 12M Avg. Daily Turnover (m) 0.1 12M High | Low (PKR) 1,475.8 | 1,019.9 Exhibit: Old & New Estimates Major Shareholders Directors FY18E FY19F FY20F Dec-18 Old 1,470 Key Matrics Target Price New 1,604 FY17A FY18E FY19F (PKR/Share) Change 9.12% Total Equity (PKRbn) 5.7 5.9 5.9 Old 98.6 87.2 98.2 Total Assets (PKRbn) 17.1 17.8 17.5 PAT -
Pakistan Investment Strategy 2018 Best Equity Advisor Chance for a Home Run; Target 47,199 Best Domestic Equity House
Best Brokerage House Pakistan Investment Strategy 2018 Best Equity Advisor Chance for a Home Run; Target 47,199 Best Domestic Equity House Top 25 Companies Corporate Finance House of the Year REP-300 www.jamapunji.pk Market Strategy Synopsis Total Return: Pakistan equity market is expected to generate a total return of 20% during 2018. Exhibit: KSE100 Index Target Estimates 2018 Valuation Basis Target Attractive Valuations: PSX is expected to provide strong returns in CY18 as KSE-100 is trading at Target Price Based 49,611 a 5 year low PER of 8.5x, cheaper than its past 5 years’ average of 10.3x. PSX is presently trading Earnings Growth 44,160 at a 46% discount to its regional peers as compared to an average of 36% during last 12 years. Justified PE 47,824 Key Reasons for Upside: Average Target 2018 47,199 Diluting political noise Index Closing 22-Dec-17 39,471 Commencement of a high Economic Growth period (FY18-20 average GDP growth expected at Expected Return 2018 19.6% 6.0% compared to past 5 year average of 4.4%) Low interest rates (FY18-20 average discount rate is expected at 6.75%, compared to past 5-yr Source: AHL Research average of 8.64%) Exhibit: KSE100 - Price to Earning Multiple Attractive valuations compared to historic average and regional peers Strong domestic liquidity P/E Average P/E 14.0 Index Target: Based on index methodology of earnings growth, justified PER and target price 12.0 mapping, we view the Dec’18 index target for KSE-100 index at 47,199 points, portraying an upside 12.1 of 19.6%. -
ENGINEERING DEVELOPMENT BOARD Ministry of Industries and Production
ENGINEERING DEVELOPMENT BOARD Ministry of Industries and Production COUNTRY PAPER PAKISTAN Pakistan is a South Asian Country having fifth largest population of the world. The automobile sector of Pakistan has long history as the manufacturing started in 1980s. Pakistan Automobile Industry can be broadly categorized as: Suzuki, Honda, Toyota, Al Hajj Faw, United, Kia,Master, 1. Cars 8 units Hyundai Millat Tractors, Al-Ghazi Tractors, Universal Tractors, 2. Tractor 8 units Hero Motors, Farm-all Tech, Arzoo , PM Tractors, Orient Tractors(MTW) (3 units Operational). Hino, Ghandhara (Isuzu and Dongfeng), Master, Afzal 3. Truck/Buses 7units Motors, Daewoo Pak Motors, Al-Haj FAW Motors, JW Forland. 4. Jeeps 3 units Toyota Fortuner, Honda BRV, Kia LCVs/Pickups/ Suzuki, Toyota, Master Motors Limited, Al-Haj FAW 5. 7 units Van Motors, M/s Regal Automobile, JW Forland, Hyundai Two/Three 6. 132 units Honda, Suzuki, Yamaha and Chinese Co. Wheelers M/s United, JW Forland, Kia, Hyundai, Master and Regal have started production recently. Under automotive Development Policy (ADP 2016-21), Greenfield Status has been granted to 21 companies for manufacturing of cars, light commercial vehicles (LCVs), Sports Utility Vehicles (SUVs), light trucks, heavy trucks, buses and prime movers. Following, (06) New Entrants have started manufacturing; - United Motors (Pvt) Ltd (Status Granted on:June 19, 2017) Production Started in October 2018 - M/s Foton JW Auto Park (Pvt) Ltd (Production Started in December 2018) - M/s Regal Automobile Industries Ltd.,, (Production Started on July 2018) - M/s KIA Lucky Motor (Production Started on August 2019) - M/s Master Motors Ltd., (Production Started on June 2019) - M/s Hyundai Nishat Motors (Production Started in December 2019) Most of other companies are in the process of establishing their manufacturing facilities. -
AUTOMOBILE SECTOR August, 2020 2
SECTOR UPDATE AUTOMOBILE SECTOR August, 2020 2 Global Automobile Industry Global car sales trend • Global auto industry expects ~20% year-on-year (YoY) decline in sales in 2020. Prior to advent of Covid-19 90 80 79 78 80 75 pandemic, car sales were projected to reach 80m which 70 60 has now been revised downwards to 60m. 60 55 • Pandemic and the economic recession that was triggered 50 39 Million Units 40 by lockdowns led to an unprecedented turmoil in 2Q’2020. 30 Going forward, recovery in sales is dependent on duration 20 and breadth of the pandemic. (1990-1999)*(2000-2015)* 2016 2017 2018 2019 2020** *Annual Averages • Amidst the outbreak, many factories were also temporarily **Forecast shutdown to curb the spread of virus and contain losses. Top six countries - Sales & market share in 2019 • Governments around the globe have supported their domestic automobile sector by incentivizing car buyers with 30 35% subsidies and tax breaks to offset decreased auto sales. 25 30% 25 17 • On the flip side, global pandemic has accelerated the 20 25% development of both electric and autonomous vehicles. 20% 15 15% • Given the global initiatives on stricter emission controls, 10 10% automakers are beginning to expand their business into Million Units 4 3 3 3 5 5% electric mobility sector. By 2025, every third new car sold is 0 0% anticipated to be propelled or assisted by an electric China USA Germany India Japan Brazil battery. Car Sales - LHS Market Share - RHS VIS Credit Rating Company Limited 3 Global Automobile Industry Global light vehicles (Cars + LCVs) sales by top 10 manufacturer groups in 2019 12 16% 10 10 9 14% 10 12% 8 7 8 10% 5 6 5 8% 4 6% Million Units 3 3 4 4% 2 2% Volkswagen Toyota Renault General Hyundai-Kia Ford Group Honda FIAT Chrysler Peugeot Mercedes - Group Group Nissan Motors Motors (PSA Group) Daimler Alliance Car Sales - LHS Market Share - RHS • Global automobile industry is expected to witness consolidation as weaker OEMs will not be able survive on their own in this competitive environment after bearing significant losses. -
Hyundai Nishat to Announce Two New High-End Vehicles This Weekend
BUSINESS WORLD | Sunday, February 24, 2019 SCIENCE & TECHNOLOGY | 09 Vivo is a brand that brings innovation Hyundai Nishat to announce two new at affordable prices Hyundai Nishat Motors is set to roll ranked as the second best app in the hout itsi firgst twho veh-iclese on Snaturdady in a vehicles this weekenwod rld. Prime Minister of Pakistan Imran in Pakistan bid to capitalize on the growing demand Khan tweeted about the app sharing its Over the past few years, young smartphone manufac - for commercial and non-commercial success at the World Government turers have taken over the industry by storm. The vehicles in Pakistan. The models include Summit competition. Chinese market is already flooded with home-grown an SUV named Santa Fe and a 12-seater According to PM Khan at the competi - brands and now a few prominent ones have managed to Grand Starex, which will be the first of tion 4646 mobile apps of different cate - capture a huge market share in Asia, Africa and Europe. the vehicles manufactured by the joint gories were presented from 87 nations. One of the reasons behind their success could be the venture of Hyundai and Nishat Group The summit held in Dubai listed aggressive pricing strategy, however, innovation played under the Auto Policy 2016-21. Pakistan’s Citizen Portal app as the 2nd an important part as well. Vivo, for example, an innova - The models, along with the country’s best mobile app in the globe. Right at tive young brand has recently introduced a smartphone first digital auto store with immersive 3D the top was an app from Indonesia and with Full-Display Fingerprint scanning technology. -
In the High Court of Sindh, Karachi Judgment
C. P. No. D-3309 / 2011 & Others IN THE HIGH COURT OF SINDH, KARACHI Present: Mr. Justice Muhammad Junaid Ghaffar Mr. Justice Agha Faisal C. P. No. D-3309 of 2011 M/s. Ibrahim Fibres Ltd. VS Province of Sindh & others For the Petitioners : M/s. Makhdoom Ali Khan, Hyder Ali Khan, Hussain Ali Almani, Fahad Khan, Rashid Anwar, Ahmed Hussain, Ameen M. Bandukda, Samiur Rehman Khan, Shaheer Roshan Shaikh, Navin Merchant alongwith Salman Yousuf, Faiz Durrani, Samia Faiz Durrani, Ghulam Muhammad, Muhammad Faheem, Umer Akhund, Sofia Saeed Shah, Aijaz Ali and Sobia Mehak, Ghulam Hussain Shah, Muhammad Adeel Awan, Shahan Karimi, Jehanzeb Awan, Karim Abbasi, S. Zeshan Ali, Imran Iqbal Khan, Rafiq Ahmed Kalwar, Nadir Hussain Abro, Rashid Mahar, Shafqat Zaman, Abdul Ahad Nadeem, Zahid Abbas, Yousuf Moulvi alongwith Rafia Murtaza, Taimur A. Mirza, Muhammad Arshad Mehmood, Aijaz Ahmed Zahid, Dr. Muhammad Khalid Hayat, Muhammad Irshad, Wajid Wyne, Shfaqat Zaman, Hamza Waleed, Rashid Mahar, Arshad Shahzad, Naeem Suleman, Asif Ali, Ahmed Hussain, Jawaid Farooqui, Imran Ali Abro, Zubair Ahmed Abro, Adnan Ahmed Zafar, Ajeet Sundar, Waqar Ahmed, Muhammad Adnan Moton, Khalid Mehmood Siddiqui, Barrister Usman Waleed, Muhammad Inzimam Sharif, Salman Aziz Advocates. For the Respondents : M/s. Farooq H. Naek, along with, Zulfiqar Arain, S. Qaim A. Shah, representing Excise & Taxation Dept. Mr. Salman Talibuddin, Advocate General Sindh assisted by Mr. Abdullah Abid, Advocate, Mr. Jawed Dero Additional Advocate General, Mr. Saifullah Assist. Advocate General Khalid Rajpar, Shahid Ali Qureshi, Mohsin Imam Wasti, Muhammad Zubair, Irfan Mir Halepota, Imran Ali Mithani, Muhabbat Hussain Awan, Muhammad Rashid Arfi Okash Mustafa for Muhammad Bilal Bhatti Advocates for Customs department. -
Annual Report 2019 Directors’ Profile Accelerating Focussed Growth Focussed
2019 Nishat Mills Limited Annual Report Accelerating focussed growth Contents Corporate Company Information ............................................................................. 1 Directors’ Profile...................................................................................... 2 Vision and Mission ................................................................................. 4 Chairman’s Review Report...................................................................... 5 Directors’ Report .................................................................................... 6 Financial Highlights .............................................................................. 20 Statement of Compliance with Listed Companies (Code of Corporate Governance) Regulations, 2017 ......................................................... 22 Independent Auditors’ Review Report to the Members on the Statement of Compliance contained in Listed Companies (Code of Corporate Governance) Regulations, 2017........................................ 24 Notice of Annual General Meeting ....................................................... 25 Jama Punji Ad ...................................................................................... 49 Financial Statements of Nishat Mills Limited Independent Auditor’s Report to the members .................................... 52 Statement of Financial Position ............................................................ 58 Statement of Profit or Loss .................................................................. -
Annual Report 2019 Under the Title of “Directors’ Report to Members” And
"//6"-3&1035 "//6"-3&1035 04 Categories of Shareholders 54 Statement of Compliance with the 05 Statement of Value Addition Code of Corporate Governance and its Distribution 58 Statement Under Section 46 (6) 06 Vision / Core Values of the Insurance Ordinance, 2000 08 Company Information 60 Independent Auditors’ Report to the Members on 10 Notice of the 59th Annual General Meeting Unconsolidated Financial Statements 15 Board of Directors 64 Unconsolidated Financial Statements 18 Management Team 128 Directors' Report on Consolidated 20 Chairman’s Review Financial Statements 21 Chairman’s Review (Urdu) 129 Independent Auditors’ Report to the Members on 22 Quality Policy Consolidated Financial Statements 23 Organizational Structure 134 Consolidated Financial Statements 24 Company Profile 236 Statement of Compliance with the Shariah 26 Corporate Social Responsibility Principles 28 Six Years at a Glance 237 Independent Reasonable Assurance Report 30 Financial Ratios 239 Shariah Advisor’s Report 38 Directors’ Report to the Members on 240 Independent Auditors' Report to the Members Unconsolidated Financial Statements on Window Takaful Operations 52 Directors’ Report to the Members on 242 Window Takaful Operations Unconsolidated Financial Statements (Urdu) Financial Statements 53 Independent Auditors' Review Report to the 283 Pattern of Shareholding Members on Statement of Compliance with 287 Proxy Form Best Practicies of Code of Corporate Governance 288 Proxy Form (Urdu) "//6"-3&1035 CATEGORIES OF SHAREHOLDERS Directors Chief Executive Officer -
2019 Nishat Mills Limited Annual Report
2019 Nishat Mills Limited Annual Report Accelerating focussed growth Accelerating focussed growth focussed FINANCIAL REVIEW Directors’ Financial Performance The financial performance of the Company was exceptional Report during the financial year ended 30 June 2019 as compared to the corresponding last year ended 30 June 2018. Profit after tax increased by 43% due to significant increase in revenue, efficient cost management and perfect investment portfolio. The Directors of Nishat summary of the key profitability measures is presented below. 2019 2018 Mills Limited (“the Financial highlights Rupees(000) Rupees(000) Company”) are Revenue 63,499,029 53,729,124 Gross profit 7,656,601 5,550,446 pleased to present EBITDA 11,211,441 8,395,775 Depreciation 2,646,227 2,444,824 the annual report of Finance cost 1,668,166 993,824 Dividend Income 3,029,845 3,391,397 the Company for Pre-tax profit 6,897,048 4,957,127 the year ended 30 After tax profit 5,859,048 4,097,127 6 June 2019 along Topline of the Company increased by 18.18% during the current with the financial year as compared to the corresponding last year. Export sales increased by Rs. 8,935.693 million in line with our marketing statements and strategy which is based on building long term relations with our customers by providing high quality products. Sales performance of all Divisions was remarkably well especially auditors’ report export sales of Weaving, Dyeing and Home Textile Divisions thereon. recorded a significant increase. Nishat Mills Limited Revenue Dividend Income 65,000,000 3,800,000 3,600,000 60,000,000 3,400,000 55,000,000 3,200,000 3,000,000 50,000,000 2,800,000 Rupees (000) Rupees (000) 45,000,000 2,600,000 2,400,000 40,000,000 2,200,000 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 Years Years Accelerating focussed growth focussed The gross profit increased by 37.95% due to less The finance cost recorded an increase of than proportionate increase in cost of sales (15.91%) Rs.