Pakistan OMCs_OMC sales for Dec’22 - lowest since the pandemic, (AKD Daily, Jan 04, 2023)
AKD Daily
Pakistan OMCs: OMC sales for Dec’22 - lowest since the pandemic
- POL product sales clocked in at 1.335mn tons for Dec’22, down by 11%/14% on YoY/MoM basis, compared to 1.51mn/1.54mn tons during Dec’21/Nov’22.
- On the retail front, MS volumes shrunk noticeably, by 15%YoY during 2QFY23, as increased fuel prices and restricted mobility (floods/rain destruction) dampened the overall demand.
- is likely to take a major hit in the non-tax revenue department as well i.e. PDL, as retail offtakes have decline majorly during 1HFY23, down 19%YoY.
- Assuming unchanged trends in POL offtakes and similar rates, total PDL collections are expected to end the full year at ~PkR630.4bn, an estimated annual shortfall of PkR225bn.
- For the full year, we expect industry offtakes to clock in at 19.1 mn tones for FY23, down by 15%YoY (previous estimate: down 7-8%YoY)
AKD Research
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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