MIRA
INFORM REPORT
|
|
|
|
Tel. No.:
|
092 423 773042421
|
|
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 1, 2014
|
Country Name
|
Previous Rating
(31.03.2014)
|
Current Rating
(01.06.2014)
|
|
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 was 6.6% in
2013, 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. 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 following
two years, 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 about
3.5% per year from 2008 to 2013. 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 and
rapidly urbanizing population, more than half of which is under 22. Other long
term challenges include expanding investment in education and healthcare,
adapting to the effects of climate change and natural disasters, and reducing
dependence on foreign donors.
OBSERVATIONS REGARDING RATRA ENTERPRISES
With reference to your email dated 22/07/2014, we wish to inform you
that Company was not found at the address “7/9 RACE COURSE ROAD LAHORE” provided by you as this is
an incomplete address. Tel Nos. provided in your email is incorrect. You are
therefore requested to kindly recheck the Complete Registered Address, NTN No.,
Correct Tel Nos. and other particulars of the Company at your end and inform us
early so that we can do the needful.
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.
|
Analysis Done by
:
|
KAR
|
|
|
|
|
Report Prepared
by :
|
SDA
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.
|
|