Year 2023:
September, 2023
An Asset Management Company (AMC) is a firm, which pools funds from individual and institutional investors and invests the same in the available assets in the market....
Cement is a grey-colored, finely milled mineral powder with adhesive and cohesive properties that makes it capable of bonding mineral fragment into a compact....
August 2023
Textile sector is Pakistan largest manufacturing industry, accounting for around 8.5% of GDP, employing about 45% of the total labor force and accounting for 60% of total exports. Globally, the textile industry is undergoing major changes driven....
March, 2023
VIS Credit Rating Company Limited (VIS) introduced “Star Rankings” in the Pakistan market in 2004 The Star Rankings are purely based on a quantitative model......
Electricity generation is the process of generating electric power from sources of primary energy. Usable electricity is not freely available in nature......
Sugar is a sweet, crystalline food supplement primarily extracted from sugar cane and sugar beet, and is widely used as a food additive in various drinks and food products. It imparts sweetness......
June, 2023
VIS Credit Rating Company Limited (VIS) introduced “Star Rankings” in the Pakistan market in 2004. The Star Rankings are purely based on a quantitative mode......
Year 2022:
December, 2022
September, 2022
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual entities within a given industry.....
June, 2022
March, 2022
The life insurance industry in Pakistan comprises seven (7) private sector companies and one (1) public sector company. Life insurance penetration in Pakistan stands on the lower side.....
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual entities within a given industry......
April, 2022
January, 2022
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual entities within a given...
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual within a given industry.....
Year 2021:
December, 2021
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual entities within a given industry. It focuses on....
October, 2021
Assessment of industry risk is an essential part of credit rating process. The industry risk assessment sets the ceiling for ratings of individual entities....
Cement industry of Pakistan comprises of 25 cement manufacturing plants owned by 17 companies as per All Pakistan Cement Manufacturing Association (APCMA).
September, 2021
The financial year (FY) 2021 continued with the same uncertainty prevailing as that in the fourth quarter of FY20 owing to emergence of the COVID-19 pandemic, ...
August, 2021
The economy of Pakistan is characterized by frequent boom and bust cycles, the consequences of which have intensified, as the country has had to frequently...
June, 2021
Rating analysis at VIS begins with an assessment of the environment i.e. risks inherent to the industry in which the company operates...
VIS Credit Rating Company Limited (VIS) introduced “Star Rankings” in the Pakistan market in 2004. The Star Rankings are purely based on a quantitative model that....
Assessment of the risks inherent to the industry in which the company operates is one of the essential steps during the credit rating process....
Amid the COVID-19 crisis, the global market for Edible Oils and Fats is projected to reach a revised size of US$146.7 Billion by 2027, growing at a CAGR of 6.2%....
VIS Credit Rating Company Limited (VIS) introduced "Star Rankings" in the Pakistan market in 2004. The Star Rankings are purely based on a quantitative...
Year 2020:
November, 2020
Global paper products market is expected to decline from $897b in 2019 to $868b in 2020 mainly due to economic slowdown across countries owing to COVID-19...
August 2020
Insurance, in short, is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance...
Textile group having around 60% share in total country’s export, provides employment to nearly 40% of the industrial labor force. Being a supplier of low-cost inputs and highly dependent...
July, 2020
Automobile sales grew at a CAGR of ~10% over the past six fiscal years (FY13-19) while weak market demand due to significant price hikes and challenging macroeconomic environment...
May, 2020
Microfinance banking sector is considered a significant player in providing access to financial services to the underserved low-income population of the country. The sector is characterized...
April, 2020
The Star Rankings are purely based on a quantitative model that compares historical risk-adjusted returns of funds investing in largely the same asset class. This universally established tool...
March, 2020
Pakistan towel sector exports contribute to around 3.4% in total exports and 6.0% in textile group exports. In FY19, total textile exports stand at 13.1B USD; of which 786.1m were towel...
September, 2020
Cotton is grown in subtropical and seasonally dry tropical areas in both the northern and southern hemispheres; however, most of the production takes place towards north of the equator...
August, 2020
Covid-19 has had a significant impact on major export markets of leather sector with a number of countries under partial or complete lockdown.Given the expected slowdown in demand...
Over the past few years, the home appliance market has experienced steady growth, and the positive momentum is expected to continue over the next decade.Market size at end-FY19...
An efficient Power sector is critical to industrialization in a country. Unfortunately, Pakistan’s power sector has faced challenges including weak governance and competitive environment...
Despite swift policy response by regulators, containment measures for global Covid-19 or coronavirus pandemic are having a severe impact on global and local economic activity with closure...
February, 2020
During the past decade, asset and wealth management industry has witnessed considerable growth globally on account of increase in quantum of investable assets, while penetration rate...
January, 2020
The banking industry in Pakistan constitutes 20 private and 5 public sector commercial banks. Industry classification is done on the basis of market share in domestic deposits....
Year 2019:
December, 2019
Paper industry of Pakistan is an important industry and serves primarily the domestic market. This sector involves process innovation and due to this companies...
Insurance is an arrangement by which a company undertakes to provide a guarantee of compensation for a specified loss, damage, illness, or death to an entity or person in return ...
November, 2019
Chlor-alkali industry is one of the largest electrochemical industry, the main products chlorine and caustic soda are imperative intermediates in chemical...
October, 2019
Due to the oligopolistic nature of the local industry, there are only 4 major players present in Pakistan that deals in Trucks and Buses...
August, 2019
Pakistani wiring & cable industry is characterized by significant competitive intensity with existence of few large players in the organized sector, and numerous small...
May, 2019
Paper & Board industry (P&B) is categorized as per weight classification. As per ISO standards, paperboard (sometimes referred as cardboard) is a paper with a grammage above...
March, 2019
Brokerage firms play a key role in capital markets by serving as intermediaries through which investors can buy and sell shares on the stock exchange...
February, 2019
The Flat Steel industry in Pakistan comprises two local producers International Steels Limited (ISL) and Aisha Steel Mills Limited (ASL). Flat steel producers import Hot Rolled Coil (HRC)...
Over the past decade, microfinance banking industry has become a significant player in providing access to financial services to the underserved...
Pakistan is the fourth largest milk producer in the world on the basis of its milk producing animal herd size. However, milk yield per animal in Pakistan is less than...
Pakistan is dependent on agriculture produce, where around 20% of the country’s GDP is provided by the agricultural sector. In light of higher dependence, usage of fertilizers...
Oil marketing industry structure is semi-oligopolistic with few large players dominating the market. During FY19, top 5 players accounted for around four-fifth of the total industry volumes...
Ethanol is manufactured by use of renewable or bio-based raw material feedstock. Based on the feedstock type, the market is classified into three product segments which...
The sugar industry plays a vital role in creating economic activity for farmers as well as manufacturers, providing revenue to different segments of the economy...
Over the past five years, global rice consumption has increased at a compound annual growth rate (CAGR) of 0.7%. In 2018, global rice consumption increased by 0.6%...
The cement industry in Pakistan is divided into two divisions; namely Southern & Northern regions. In the province of Punjab: Khyber Pakhtunkhwa, Azad Kashmir, Gilgit Baltistan...
Year 2018:
December, 2018
Insurance policies are instruments used to hedge against the risk of financial losses of all magnitudes that may emanate from damage to the insured property. The coverage also includes...
November, 2018
Despite an economic slowdown, car sales registered 21% growth YoY in FY18, however, regulatory ban on tax non-filers imposes threat of demand slowdown in coming days...
September, 2018
Weaving is defined as the process of conversion of cotton yarn into raw fabric. It can be classified as the third process in the textile value chain illustrated...
August, 2018
Polyvinyl chloride (PVC) is the third-most commonly produced polymer, after polyethylene and polypropylene. PVC is one the most widely used plastics and is produced by polymerization...
June, 2018
Oils and fats are used mainly for food purposes. However, both oilseeds and extracted oil are also used in some part as animal feed...
April, 2018
Sugarcane is one of the most important cash crops of Pakistan; it is a key input for sugar production as well as the paper and board industry. Pakistan is the 6th largest sugarcane...
March, 2018
Healthcare sector is one of the world’s largest and fastest growing industries with a market size of US$ 7.6 trillion1. By 2020, global healthcare spending is projected to reach US$ 8.7 trillion2...
The auto component sector serves the automobile assemblers and the replacement market. The auto component manufacturing companies act as vendors and suppliers to local...
Geographically the cement industry in Pakistan is divided into two divisions; namely Southern & Northern region. Province of Punjab, Khyber Pakhtunkhwa, Azad Kashmir...
During the past decade, asset and wealth management industry has witnessed considerable growth globally on account of increase in quantum...
Global Airline Business Confidence Index (January’2018) reveal a positive outlook for air travel supported by healthy demand growth on both freight ...
The pharmaceutical industry is responsible for development, production and marketing of medications. Therefore, it is considered as the mainstay of public health in any country...
Global denim market is estimated to grow at about 6.4% annually from $57 billion in 2016 (US accounts for 24% of this size) to $75 billion in 2021. USA is one of the top ...
Year 2017:
October, 2017
Leather is a by-product of the meat industry and its main source of raw material is cattle hides and skins. It is the primary product of tanning sector, and is further processed by value adding...
Since 2016, Oil and Gas Regulatory Authority (OGRA) has issued 11 new marketing licenses taking the total number of Oil Marketing Companies (OMCs) to 22 (FY16: 11) as at end-FY17...
September, 2017
August, 2017
Steel is the backbone of the infrastructural development in an economy. However, demand continues to be cyclical in nature and relies on economic growth. Steel sector continues to be in a state...
March, 2017
Rice is an essential cereal grain for more than half of the world's total population. Up to 50% of dietary caloric supply for poor people in Asia is provided by rice...
Pakistan has been one of the fastest growing cellular markets. The country’s teledensity increased from 6.3% in FY04 to a high of 79.9% in FY14...
The flat steel industry in Pakistan comprises two local producers International Steels Limited (ISL) and Aisha Steel Mills Limited (ASL). Currently, ASL only produces CRC while ISL also produces...
The tubular industry in Pakistan comprises 50 manufacturing units out of which 40 are based in Lahore. Tubular products include pipes, railings, tubes etc. where each segment has its own feed...
June, 2017
Over the past decade, microfinance banking industry has become a significant player in providing access to financial services to the underserved ...
Pakistan has a well-developed cement industry with abundant raw material availability in the country. The country ranks amongst the top 5 exporters and 14th largest cement...
Year 2016:
December, 2016
With almost one-fourth of Pakistan ’s Gross Domestic Product (GDP) contributed by the agricultural sector, there is significant dependence on agrarian products in the country ’s economy...
November, 2016
The textile sector of Pakistan plays a pivotal role in the country 's economy - its significance stemming mainly from its very large cotton production capacity...
October, 2016
The JCR-VIS Banking Sector Overview covers 26 local commercial banks and has been developed given the current industry stratification whereby top 6 banks account for 59.8%...
September, 2016
The Hospitality industry primarily provides lodging services to customers along with a variety of other supplementary services such as transportation...
June, 2016
The chlor-alkali sector is the sub-set of chemical industry with production primarily of caustic soda;other by-products including liquid chlorine, hydrochloric acid and sodium...
May, 2016
April 2016
Pakistan has a well-developed cement industry with abundant raw material availability in the country. The country ranks amongst the top 5 exporters and 14th largest cement producer in the world.
January, 2016
Demand of the fertilizer industry is directly aligned with growth in agricultural sector. The sector accounts for 21% of the GDP and absorbs around 44% of the country's workforce...
The steel industry is considered s the backbone of the modern society and has direct correlation with the industrial development, given its utility in all industrial processes...
The Oil and Gas industry is divided into two major sectors, namely, upstream and downstream. The upstream oil sector is also known as the ‘Exploration and Production’ (E&P) sector...
Industrial gases refer to a group of gases which are considered as an essential input in various industrial processes. Major industrial gases include hydrogen, oxygen, helium...
August, 2016
The aviation industry is characterized by high competition arising from soft barriers to entry, cyclicality, and vulnerability to economic shocks As per International ...
With significant growth in Assets under Management of most life insurance companies, the importance of further strengthening the investment management function...
The microfinance sector has become a significant player in providing access to credit to the largely underserved low income population of the country...
Rice is staple food for around half of the world’s population and has the third highest world-wide production as an agricultural commodity, after sugar cane and maize...
Year 2015:
November, 2015
The banking industry in Pakistan has grown at a Compound Annual Growth Rate (CAGR) of 13.2%1 over the last 5 years (2009-2014) while deposits held by the banking industry...
May, 2015
Pakistan’s microfinance sector has evolved over the years. The industry has witnessed emergence of new players, local and international, along with innovation in products...
Sugarcane is one of the most important cash crops of Pakistan; it is a key input for sugar production along with paper and board industry. Pakistan belongs to the top 10 largest...
Year 2014:
April, 2014
The microfinance industry has significant potential for growth as vast population in the country has none or restricted access to financial services...
Year 2013:
December, 2013
Global rice prices remained stable till FY12 but depicted an increasing trend towards the end of HY13 due to supply constraints amidst limited carryover stocks and reduced...
November, 2013
Today’s airline industry exists in an intensely competitive market. As per data available from the information centre of The World Bank, during 2012 approximately 2.8billion...
August, 2013
Electricity sector in Pakistan can be broadly classified into three categories namely; generation, transmission and distribution. Over the years,the dynamics of the power sector...
April, 2013
Microfinance industry of Pakistan comprises 38 Microfinance Providers (MFPs) including 11 Microfinance Banks (MFBs) that dominate the market in terms of lending portfolio...
The chlor-alkali business can be described as a sub-sector of the chemical industry, engaged in the production of liquid chlorine, hydrochloric acid, sodium hypochlorite...
October, 2013
The sugar industry of Pakistan plays a vital role in creating economic activity for the country’s farmers as well as sugar manufacturers. It is the second largest agro...
May, 2013
The textile sector is considered to be the backbone of Pakistan’s economy. Being the 4th largest producer of cotton, Pakistan has the 3rd largest spinning capacity in Asia...
March, 2013
The leather industry is one of the most important export-oriented industries in Pakistan, having the third largest export volumes in the manufacturing sector after textiles...
Year 2011:
December, 2011
Chemical industry plays a vital role in the economic development of Pakistan. There are numerous chemical products which are made and used as a basic input...
October, 2011
Sugar industry, the second largest after textiles, currently has 86 factories in operation countrywide, with an installed capacity of 7.0 million tonnes of sugar annually...
April, 2011
The formal confectionery industry in Pakistan is dominated by few large players i.e. Hilal (20%), CandyLand (15%), Mayfair (12%), JoJo (12%) and others (41%)...
January, 2011
Liquefied Petroleum Gas (LPG) is a naturally occurring hydrocarbon fuel in gas and oil fields or extracted in oil refineries. The principal constituents of LPG are propane...
Textile sector has remained a major contributor to the national economy comprising about 9% of the total GDP. It provides employment to 38% of the manufacturing workforce...
The fertilizer products are variations of three primary soil nutrients, namely nitrogen (N), phosphorous (P) and potassium (K). It is the suitability of a nutrient for crop...
February, 2011
Power generation business can be broadly categorized into three phases i.e. generation, transmission and distribution. Over the years, power sector in Pakistan has evolved into...
Year 2010:
June, 2010
The global textile and garment industry also has been hit hard by the global financial crisis. The impact on the textile garment, leather and footwear sectors has been dramatic...
March, 2010
Sugarcane is one of the most important cash crops and the industry is considered as the driving engine of the rural economy after agrarian economy in many countries...