Pakistan OMCs - Feb'24 OMC offtakes - down 19%MoM, (AKD Daily, Mar 04, 2024)
Pakistan OMCs - Feb’24 OMC offtakes - down 19%MoM
- Volumetric offtakes for the OMC sector reached 1.12mn tons during Feb’24, declining by 8%/19% on a MoM/YoY basis, while ex-RFO sales stood down by 3%/11% MoM/YoY.
- APL emerged as the star performer during the month with a slight decrease in total volumes by 1.2%YoY, in contrast to industry's decline of 8%YoY during the period.
- As we approach the final quarter of the fiscal year, we estimate authorities to have amassed PkR687bn during 8MFY24 under the Petroleum Development Levy (PDL) head, constituting 79% of the budgeted target of PkR868bn during the full year.
- POL product sales persist as one of the few sectors that have continued to lag behind, despite broad-based, albeit modest, economic recovery witnessed throughout the second half of the calendar year.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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