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With these pieces of paper they can buy anything and pay for anything. All these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver; and on every piece a variety of officials, whose duty it is, have to write their names, and to put […]
In line with the forward guidance provided in the last monetary policy, SBP kept the policy rate unchanged at 9.75% in its Jan-22 Monetary Policy Statement (MPS), after consecutive hikes in last four meetings totaling 275bps. SBP now has a more comfortable posture on the existing monetary setting, mainly due to the contractionary stance of […]
Considering the recent news flow regarding concerns on 2022 wheat crop due to low availability / application of fertilizer, we conducted several interviews in the agricultural value chain to understand where things stand. To give some background DAP offtake during Oct-Nov CY21 fell 5.6% YoY due to record high prices approaching PKR~10,000/bag. While Urea offtake […]