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Hypocrisy on Karachi’s electricity
It is bad enough that the Nawaz Administration is so beholden to the textile lobby that it would rather leave all of Punjab in darkness than force its friends to pay a little extra for their...
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View from McLeod Road: Should NIB Bank sell PICIC Asset Management?
CHICAGO: When at least two parties start competing to buy an asset you own, it can be tempting to sell it to the highest bidder. But NIB Bank would be better off if it resisted that temptation with...
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Punjab’s energy problem
There is almost no solution to Punjab’s energy problem which does not depend on Sindh Chief Minister Qaim Ali Shah being driven out of office and being replaced by somebody who is at least vaguely...
View ArticleThe FESCO experiment
I am still not entirely sure if Prime Minister Nawaz Sharif has the guts to pull the trigger on the privatisation of the Faisalabad Electric Supply Company (Fesco), but if he does, the results of that...
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View from McLeod Road: Can Hubco truly convert to a growth stock?
CHICAGO: Has Pakistan’s most consistent dividend-paying stock converted itself into a growth stock or is Hubco just going through some mid-life jitters born of a change in management? Investors in the...
View ArticleA cash flow problem
It must be a hard job being prime minister of Pakistan. When he assumed office, Prime Minister Nawaz Sharif, like virtually all of his predecessors, was bombarded by a whole army of bureaucrats...
View ArticleView from McLeod Road: Why the mini-budgets will not work
CHICAGO: The saddest thing about watching Finance Minister Ishaq Dar on television is that he actually thinks he is in charge. The confident smile, the coy answers to reporters’ questions, even his...
View ArticleA seven-decade mess in taxation
In 1215, a group of barons and wealthy urbanites made King John of England sign the Magna Carta, a document that gave birth to the idea of modern parliamentary democracy. At its heart was the concept...
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View from McLeod Road: Why the market is excited about the Mughal Steel IPO
CHICAGO: It does not take much to get investors in Pakistani equities excited, and a reasonably large initial public offering of a company with a successful track record in a growing industry always...
View ArticleView from McLeod Road: Can Fauji successfully pull off its diversification...
CHICAGO: It is no secret that ever since Engro Corporation had its successful IPO of Engro Foods, the two Faujis – Fauji Fertilizer and Fauji Fertilizer Bin Qasim – have been trying to diversify into...
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