|
Report Date : |
22.03.2013 |
|
|
|
|
Tel. No.: |
92 21 32210563, 32210564 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No Trace |
|
|
|
|
Payment Behaviour : |
--- |
|
|
|
|
Litigation : |
--- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
pakistan - ECONOMIC OVERVIEW
Decades of
internal political disputes and low levels of foreign investment have led to
slow growth and underdevelopment in Pakistan. Agriculture accounts for more
than one-fifth of output and two-fifths of employment. Textiles account for
most of Pakistan's export earnings, and Pakistan's failure to expand a viable
export base for other manufactures has left the country vulnerable to shifts in
world demand. Official unemployment is 6%, but this fails to capture the true
picture, because much of the economy is informal and underemployment remains
high. Over the past few years, low growth and high inflation, led by a spurt in
food prices, have increased the amount of poverty - the UN Human Development
Report estimated poverty in 2011 at almost 50% of the population. Inflation has
worsened the situation, climbing from 7.7% in 2007 to more than 13% for 2011,
before declining to 9.3% at year-end. As a result of political and economic instability,
the Pakistani rupee has depreciated more than 40% since 2007. The government
agreed to an International Monetary Fund Standby Arrangement in November 2008
in response to a balance of payments crisis. Although the economy has
stabilized since the crisis, it has failed to recover. Foreign investment has
not returned, due to investor concerns related to governance, energy, security,
and a slow-down in the global economy. Remittances from overseas workers,
averaging about $1 billion a month since March 2011, remain a bright spot for
Pakistan. However, after a small current account surplus in fiscal year 2011
(July 2010/June 2011), Pakistan's current account turned to deficit in the
second half of 2011, spurred by higher prices for imported oil and lower prices
for exported cotton. Pakistan remains stuck in a low-income, low-growth trap,
with growth averaging 2.9% per year from 2008 to 2011. Pakistan must address
long standing issues related to government revenues and energy production in
order to spur the amount of economic growth that will be necessary to employ
its growing population. Other long term challenges include expanding investment
in education and healthcare, and reducing dependence on foreign donors.
|
Source : CIA |
With reference to
your email dated 16/03/2013, we wish to inform you that Company is not located
at the address “Office No. 27, 9th
Floorr K Square (Ext) Shahrah-E-Liaquatnew Challi” provided by you. You are therefore requested to kindly
recheck the Correct Address, NTN No., Tel Nos. and other particulars of the
Company at your end and inform us early so that we can do the needful.
Tel No: 92 21 32210563, 32210564 provided by you regarding
Karachi Food belong to Habib Metropolitan Bank Branch.
Important Note:
Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.