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MIRA INFORM REPORT
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Report No. : |
497425 |
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Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
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Name : |
THE EXCISE TAXATION AND NARCOTICS CONTROL DEPARTMENT GOVERNMENT OF PUNJAB |
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Registered Office : |
2nd Floor, Transport House, 11-Egerton Road, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
Not available |
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Legal Form : |
Government enterprise |
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Line of Business : |
The Excise, Taxation and Narcotics Control Department provides services for collection of various taxes and duties efficiently and effectively and suggests ways and means for additional resource mobilization in the Province. |
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No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Pakistan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political disputes and low levels of foreign investment have led to underdevelopment in Pakistan. Pakistan has a large English-speaking population. A challenging security environment, electricity shortages, and a burdensome investment climate have deterred investors. Agriculture accounts for one-fifth of output and two-fifths of employment. Textiles and apparel account for more than half of Pakistan's export earnings; Pakistan's failure to diversify its exports has left the country vulnerable to shifts in world demand. Pakistan’s GDP growth has gradually increased since 2012. Official unemployment was 6% in 2017, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Human development continues to lag behind most of the region.
In 2013, Pakistan embarked on a $6.3 billion IMF Extended Fund Facility, which focused on reducing energy shortages, stabilizing public finances, increasing revenue collection, and improving its balance of payments position. The program concluded in September 2016. Although Pakistan missed several structural reform criteria, it restored macroeconomic stability, improved its credit rating, and boosted growth. The Pakistani rupee, after heavy depreciation in 2013, remained relatively stable against the US dollar in 2015-17. Balance of payments concerns have reemerged, however, as a result of increased imports and declining remittances.
Pakistan must continue to address several longstanding issues, including expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, improving the country’s business environment, reducing dependence on foreign donors, and widening the country’s tax base. Given demographic challenges, Pakistan’s leadership will be pressed to implement economic reforms, promote further development of the energy sector, and attract foreign investment to support sufficient economic growth necessary to employ its growing and rapidly urbanizing population, much of which is under the age of 25.
In an effort to boost development, Pakistan and China are implementing the “China-Pakistan Economic Corridor,” with $60 billion in investments targeted towards energy and other infrastructure projects. Pakistan believes CPEC investments will enable growth rates of over 6% of GDP by laying the groundwork for increased exports. CPEC-related obligations, however, have raised IMF concern that capital outflows that will begin to increase in 2020.
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Source
: CIA |
NOTE
In absence of financials, no credit limit could be recommended.
Company
name
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Business
Name |
THE EXCISE TAXATION AND
NARCOTICS CONTROL DEPARTMENT GOVERNMENT OF PUNJAB |
Full
Address
Registered
Address
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2nd Floor, Transport House, 11-Egerton Road, Lahore, Pakistan |
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Tel # |
92
(42) 99202946 |
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Fax # |
92
(42) 99202946 |
Overview
The Excise, Taxation and Narcotics Control Department provides services for collection of various taxes and duties efficiently and effectively and suggests ways and means for additional resource mobilization in the Province.
Details
of Management
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Names |
Designation |
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Mr. Mian Mujtaba
Shuja ur Rehman |
Minister
for Excise (Punjab) |
No.
of Employees
150
Bankers
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(1) The
Bank of Punjab, Pakistan. (2)
National Bank of Pakistan. |
Future
Plans
Enlisted below are the plans which the Department foresee to accomplish:
· Diversification of platform for value added services like branchless banking services to tax payers
· Virtual availability of various services to tax payers 24/ 7
· Online availability of property related data with tax mapping and associated services
· Tax collection through branchless banking
· Compulsory registration mechanism of vehicles before delivery
· Centralization of Data Bases pertaing to motor vehicles
· computerization of property tax for remaining districts
· Establishment of kiosks for property tax bills
· Establishment of 9 facilitaion centers
· Issuance of personilzed number plates
· Issuance of universal number
· Issuance of owner based license plates
· Issuance automated registration card
· Integration of database with traffic police for collection of fines
· Integration of database with safe city authority for traffic voilation ticketing system
· E- Auction of Motor Vehicles Registration mark of choice
Comments
The Excise, Taxation and Narcotics Control Department provides services for collection of various taxes and duties efficiently and effectively and suggests ways and means for additional resource mobilization in the Province
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.94 |
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1 |
INR 90.72 |
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Euro |
1 |
INR 80.32 |
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PKR |
1 |
INR 0.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.