...requirement For the award of the degree Of Masters of Business Administration Session (2011-2013) Submitted to: Submitted by: Narsee Monjee Institute of Management Studies, Ankit Johri Mumbai MBA Capital Markets Roll No. A34 NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES, MUMBAI * Contents Acknowledgement 4 1. Introduction 4 History 4 GAS Utilization Policy: 5 NELP 6 Production sharing Contracts 6 2. Demand and supply 7 Supply Scenario: 7 Status of NELP discoveries 9 Supply from various regions: 9 Demand 10 Need for Imports 11 TAPI Pipeline Agreement : 12 3. PRICING 13 History 13 Prices Of Different fuels: 14 Pricing Regimes in the Indian Gas Sector 15 Pricing under the APM and Discovered Fields Regime 16 Pricing under the NELP regime 17 Pricing of LNG 18 4. Fuels and their shares : 20 Sector Demands and supply: 21 5. Gas v/s Coal and other liquid fuels: 22 Cost of Gas to different industries: 24 Power 24 Fertilizers: 26 CGD, Refineries and Petrochemicals 27 Other Advantages of Natural Gas: 28 6. Cost of Different fuels for Ceramic industries: 30 Asian Granito: 30 Nitco 32 7. Pooling mechanism: 35 Need for Pool Pricing 35 Proposed Roadmap of Pool Pricing Mechanism 36 8. Conclusions and Suggestions: 40 Looking Ahead 40 9. Bibliography 42 Acknowledgement It is indeed a matter of great pleasure and privilege that I was given an opportunity to work...
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...Natural gas is a vital energy source for Pakistan. In FY2010, Pakistan consumed about 1.3 trillion cubic feet (tcf) of gas,all domestically produced and representing about half of primary energy consumption. Natural gas is transmitted and distributed by two companies: Sui Southern Gas Company Ltd. (SSGC) the sub borrower in this Project supplying Sindh and Balochistan, Sui Northern Gas Pipelines Ltd.(SNGPL) supplying Punjab and Khyber Pakhtunkhwa. Many large gas fields are in decline, and at current production forecasts, the country is at or near its peak production. Proven remaining reserves were estimated at 27.6 tcf in 2010. By international standards, and compared to oil products, natural gas is inexpensive in Pakistan, which lead to inefficient use. A critical challenge is The high level of unaccounted for gas (UFG). Pakistan has UFG in the gas pipeline system of more than 9 percent in SSGC's network and more than 11 percent in SNGPL's system. This compares to 1 2 percent in well run gas networks. Most of the UFG is caused by leakages from a corroded and under ‐ maintained pipeline system, but a significant part also stems from gas theft Fertilizer industry uses around 17% (which is equal to total household consumption in Pakistan so if they stop giving gas to these industries, household gas problem will be solved) of gas in Pakistan and Government has written agreement with them that no gas will be provided to them during three months i.e. Dec...
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...sustained growth, especially in the developing and emerging economies. Natural gas has emerged as most benign fuel in this regard. Natural Gas is a new age fuel. With only one carbon and four hydrogen atoms per molecule, Natural Gas has the lowest carbon to hydrogen ratio, hence it burns completely, making it the cleanest of fossil fuels. Natural Gas satisfies most of the requirements for fuel in a modern day industrial society, being efficient, non-polluting and relatively economical. The periodic uncertainties and volatility in both the price and supply of oil, have also helped Natural Gas emerge as a major fuel in the energy basket across countries. Sector Natural Gas is used Generation of electricity by utilities Fertilizer Industry Industrial As fuel for base load power plants In combined cycle/cogeneration power plants As feed stock in the production of ammonia and urea As an under boiler fuel for raising steam As fuel in furnaces and heating applications For heating of spaces and water For cooking As a non-polluting fuel As the raw material from which a variety of chemical products e.g. methanol, are derived Domestic and commercial Automotive Petrochemicals India’s natural gas scenario is undergoing rapid changes and gas is poised to occupy a significant share in the energy mix. In this project, we will try to examine the various segments of natural gas users, their characteristics, the...
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...7 Balance of Payments 7.1 Global Economic Review The global economy was facing two major threats at the start of FY13: the possible demise of the Euro, and a big fiscal contraction in the US, caused by the ‘fiscal cliff’.1 However, timely policy actions were taken to address these issues. In the EU, for instance, Outright Monetary Transactions (OMTs) were launched to lower the long-term yields on sovereign bonds; there was a restructuring deal of Greek public debt; and the agreement on Single Supervisory Mechanism (SSM) was reached, to help restore confidence in the viability of the European Union.2 Similarly in the US, a partial extension of Bush tax cuts was given under the American Taxpayer Relief Act 2012 (ATRA), to eliminate the revenue side of the fiscal cliff.3 Although these policy measures were able to restore some business confidence, these were, nonetheless, insufficient to pace up the economic recovery (Figure 7.1). In the EU, growth was constrained by fiscal consolidation; deleveraging; and tight credit conditions to repair balance sheets by financial institutions and households. In the US, growth remained lackluster throughout 2012 and early 2013, despite a pick-up in credit and housing following the launch of the third round of quantitative easing (QE3) in September 2012.4 Figure 7.1: Global GDP Growth World Emerging economies 8 6 percent Advanced economies 4 2 0 2011Q1 2011Q2 2011Q3 2011Q4 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1 Source: World Economic...
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...The Pakistan Credit Rating Agency Limited STRUCTURED FINANCE RATING KARACHI ELECTRIC SUPPLY COMPANY LIMITED APRIL 2012 The Pakistan Credit Rating Agency Limited STRUCTURED FINANCE KARACHI ELECTRIC SUPPLY COMPANY LIMITED REPORT CONTENTS Summary Report Detailed Report: PAGE 1 2 2 4 7 Rating Profile Instrument Structure Assessment ANNEXURES BoD Profile Standard Rating Scale I II April 2012 www.pacra.com STRUCTURED FINANCE The Pakistan Credit Rating Agency Limited RATINGS (APRIL 2012) KARACHI ELECTRIC SUPPLY COMPANY LIMITED [KESC] RATING RATIONALE & KEY DRIVERS SECURED, RATED, LISTED TFC (I) OF PKR 300MLN TFC (II) OF PKR 1,200MLN TFC (III) OF PKR 500MLN PRELIMINARY AA AA AA TFC (I) Tenor Issue size (PKR mln) Greenshoe option Profit Rate Profit payment Principal repayment TFC (II) TFC (III) 13 months 36 months 60 months 300 13.00% Monthly Bullet 1,200 700 14.75% Quarterly Bullet 500 300 15.50% Quarterly Bullet ANALYSTS Samiya Mukhtar +92 42 35869504 samiya@pacra.com Rana Muhammad Nadeem +92 42 35869504 nadeem@pacra.com The rating primarily draws its strength from the security structure of the instrument. This includes, inter alia, first parri passu charge with 1.2x minimum throughput of receivables from specific 250 corporate consumers and first pari passu charge with 1.2x minimum throughput of excess proceeds (after meeting certain pre-agreed financial obligations) entitled to KESC relating...
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...Definition of Statistics Statistics like many other sciences is a developing discipline. It is not nothing static. It has gradually developed during last few centuries. In different times, it has been defined in different manners. Some definitions of the past look very strange today but those definitions had their place in their own time. Defining a subject has always been difficult task. A good definition of today may be discarded in future. It is difficult to define statistics. Some of the definitions are reproduced here: The kings and rulers in the ancient times were interested in their manpower. They conducted census of population to get information about their population. They used information to calculate their strength and ability for wars. In those days statistics was defined as “The science of kings, political and science of statecraft” 1. A.L. Bowley defined statistics as “Statistics is the science of counting” This definition places the entries stress on counting only. A common man also thinks as if statistics is nothing but counting. This used to be the situation but very long time ago. Statistics today is not mere counting of people, counting of animals, counting of trees and counting of fighting force. It has now grown to a rich methods of data analysis and interpretation. 2. A.L. Bowley has also defined as “Science of averages” This definition is very simple but it covers only some area of statistics. Average is very simple important in statistics...
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...Co. Chartered Accountants Investment in Pakistan Investment in Pakistan An Introduction Investment in Pakistan is a publication prepared by KPMG Pakistan to provide information on a number of subjects relevant for investment planning or doing business in Pakistan. The guide includes an overview of the economy and a summary of various investment opportunities in identified sectors which could be of interest for investors. This guide provides a summary of the rules, regulations and tax laws applicable in Pakistan. Although covering many relevant areas, it should not be considered as exhaustive since it has not been designed to provide complex and detailed information required for decision-making in relation to investments. This publication incorporates the regulations effective as of 31 August 2013. For our latest publications please browse our web site; www.kpmg.com.pk. © 2013 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Glossary BOI CY FCY FDI FY GDP GoP KSE PKR SBP SECP USD Board of Investment Calendar year Foreign Currency Foreign Direct Investment Fiscal year ended 30 June Gross Domestic Product Government of Pakistan Karachi Stock Exchange Pakistan Rupee State Bank of Pakistan Securities & Exchange Commission of Pakistan United States Dollar © 2013 KPMG Taseer...
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...Co. Chartered Accountants Investment in Pakistan Investment in Pakistan An Introduction Investment in Pakistan is a publication prepared by KPMG Pakistan to provide information on a number of subjects relevant for investment planning or doing business in Pakistan. The guide includes an overview of the economy and a summary of various investment opportunities in identified sectors which could be of interest for investors. This guide provides a summary of the rules, regulations and tax laws applicable in Pakistan. Although covering many relevant areas, it should not be considered as exhaustive since it has not been designed to provide complex and detailed information required for decision-making in relation to investments. This publication incorporates the regulations effective as of 31 August 2013. For our latest publications please browse our web site; www.kpmg.com.pk. © 2013 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Glossary BOI CY FCY FDI FY GDP GoP KSE PKR SBP SECP USD Board of Investment Calendar year Foreign Currency Foreign Direct Investment Fiscal year ended 30 June Gross Domestic Product Government of Pakistan Karachi Stock Exchange Pakistan Rupee State Bank of Pakistan Securities & Exchange Commission of Pakistan United States Dollar © 2013 KPMG Taseer...
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...Development PRC People’s Republic of China UAE United Arab Emirates US United States of America USDA Department of Agriculture of the United States WFP World Food Programme of the United Nations WTO World Trade Organization Table of contents EXECUTIVE SUMMARY ..................................................................................i BACKGROUND.....................................................................................1 THE CAUSES.......................................................................................4 THE CLIMATE ISSUE ......................................................................... 4 INTERNATIONAL STOCK LEVELS......................................................... 5 INCREASED GLOBAL FOOD DEMAND................................................... 7 INCREASED OIL PRICE ...................................................................... 9 THE BIOFUEL FACTOR ......................................................................10 TARIFFS AND POLICIES....................................................................16 THE FINANCIAL MARKET...
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...Contents Executive Summary 2 A-1 Trading Company 3 Global production of beans that our company export 4 Importing Countries 5 Exporting Countries 6 Production of Myanmar 6 Export of Myanmar 7 Vision of the A-1 Trading Company 7 Mission of the A-1 Trading Company 7 Cross-cultural business between Myanmar and India 8 Information about India 9 Absolute advantage of the company 10 Addressing international trade to expand our company 11 Attracting FDI to fund and expand our company 12 Taking advantage on International Opportunities 13 Benefits to consumers 13 Strategies 14 Corporate Strategy 14 Business Strategy 14 Distribution Channel 15 Markets and Segments 16 Customer Segmentation 17 Customer Value Proposition 17 Conclusion 19 Executive Summary The purpose of this assignment is to develop a business strategy for our company, A1 Company Limited. Our company export beans and pulses to India and planning to attract FDI on strategic assets of company to produce value added products made of bean. In this report includes business relationship between Myanmar and India, the advantages we currently have and opportunities for entering other international markets. Also, our marketing plan of targeting customer segments, our company value to customers and our plans to help our suppliers with sophisticated technologies which will be a great help in improving the quality of our products. Finally, our future plan for producing value added products...
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...ECONOMICS & STRATEGY THE JSK STRATEGIST June 07, 2010 Federal Budget 2011: Affordability Vs. Sustainability!! A Blurry Hype Or A Leap Of Faith?? Executive Summary At the national front, government remained excessively occupied with budgetary measures to be adopted in the finance bill, that were announced on June 5th. Capital market participants and investors, in anticipation, distanced away from large exposures as federal budget closed in, with implementation of Capital Gains Tax (CGT) on stock market transactions. Nationwide implementation Value Added Tax (VAT) regime at 15% has been deferred by three months in order to develop a productive framework for enforcement and collection mechanisms. Addressing IMF’s concerns, the removal of subsidies and a raise in power tariff by 6%, in addition to the expansion of country’s tax base remained core issues in recent budget announcements. Economic Recovery: Exceeds Expectations! Federal government revised GDP growth levels to 4.5% from a low of 4.1% sighting better than expected economic recovery for FY2010. Expansion in large scale manufacturing and growth in services sector would be the key factors contributing to economic growth with 5.6% share of manufacturing, 4.6% for services and 3.8% for agriculture sector. Also, the crippling power sector with the introduction of costly rental power plants is expected to provide significant relief to the industrial sector. Additionally, government is making all out efforts to curtail...
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...neighbouring Indian state of West Bengal, it makes up the ethno-linguistic region of Bengal. The name Bangladesh means "Country of Bengal" in the official Bengali language. The borders of modern Bangladesh took shape during the Partition of Bengal and British India in 1947, when the region became the eastern wing of the newly formed state of Pakistan. Following years of political exclusion, ethnic and linguistic discrimination, and economic neglect by the politically dominant western wing, a surge of popular agitation, nationalism and civil disobedience led in 1971 to the Bangladesh Liberation War, resulting in the separation of the region from Pakistan and the formation of an independent Bangladesh. After independence, the new state proclaimed a secular multiparty democracy. The country then endured decades of poverty, famine, political turmoil and numerous military coups. Since the restoration of democracy in 1991, the country has experienced relative calm and economic progress, though its main political parties remain polarized. Post Independence Bangladesh had to face the devastation wrought by earlier economic exploitation during the Pakistan era as well as destruction of critical infrastructure during the war. After many years of economic problems, Bangladesh has started to rebound with steady growth in recent years. The economy of Bangladesh is a rapidly developing market-based economy. Its per capita income in 2012 was estimated to be US$2,100 (adjusted by purchasing...
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...that the share of this mode in the transportation of petroleum products and natural gas reaches the desired level. It is estimated that around Rs 30,000 crore are likely to be invested over the next 10-12 years in setting up pipeline networks for liquid petroleum products The efficient and effective movement of natural gas from producing regions to consumption regions requires an extensive and elaborate transportation system. In many instances, natural gas produced from a particular well will have to travel a great distance to reach its point of use. The transportation system for natural gas consists of a complex network of pipelines, designed to quickly and efficiently transport natural gas from its origin, to areas of high natural gas demand. Transportation of natural gas is closely linked to its storage, as well; should the natural gas being transported not be required at that time, it can be put into storage facilities for when...
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...Development Financial Institutions (DFIs), Microfinance Institutions (MFIs) and all Depository NBFIs. Depository Corporations (DCs) Depository Corporations refers collectively to the Other Depository Corporations (ODCs) and Central Bank (CB) where Central Bank (CB) is the national financial institution that exercises control over key aspects of the financial system and caries out such activities as issuing currency, regulation money supply and credit, managing international reserves, transacting with the IMF, and providing credit to other depository corporations. Reserve Money (M0) Reserve Money is an indicator used to measure money supply in the economy and includes currency in circulation (held with Public), other deposits with State Bank of Pakistan; currency in tills of schedules bank’s and bank deposits with SBP. M0 is used to measure the most liquid assets which can be spent most easily. M0 is sometimes referred to as the monetary base. Deferred Tax Assets The amount of income taxes recoverable in foreseeable future periods in respect of: i) Deductible temporary differences ii) The carry forward of unused tax losses; and iii) The carry forward of unused tax credits. Deferred tax assets should be recorded on the basis of reasonable realizable value of such assets in foreseeable future. Deferred Tax Liabilities The amount of income taxes payable in future periods in respect of taxable temporary differences. Broad Money (M2) Broad Money is an indicator used to measure money supply...
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...DAIRY REPORTS DAIRY DEVELOPMENT IN PAKISTAN DAIRY REPORTS DAIRY DEVELOPMENT IN PAKISTAN Umm e Zia, T. Mahmood and M.R. Ali FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS Rome, 2011 Author Umm e Zia is the Managing Director of Cynosure Consultants in Islamabad. She has supported international donors and governments in undertaking rural development and agriculture value chain projects in over ten countries. T. Mahmood is a dairy consultant based in Lahore, Pakistan. He also serves as a visiting faculty member at the University of Veterinary and Animal Sciences. Muhammad Raza Ali is Senior Research Associate at Cynosure Consultants. Recommended Citation FAO. 2011. Dairy development in Pakistan, by Umm e Zia, T. Mahmood and M.R. Ali. Rome. Keywords Production systems, Dairy value chain, Dairy institutions, Product safety, Livelihoods, Employment The designations employed and the presentation of material in this information product do not imply the expression of any opinion whatsoever on the part of the Food and Agriculture Organization of the United Nations (FAO) concerning the legal or development status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The mention of specific companies or products of manufacturers, whether or not these have been patented, does not imply that these have been endorsed or recommended by FAO in preference to others of a similar nature that are...
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