Pakistan’s economy, tractors production
While scanning Dawn, I saw this advertisement from Millat Tractors Limited (MTL). MTL has announced that in fiscal year 2009-10, they have produced over 40,000 tractors. This is a figure which is 32% higher than 2008-09. Being a shareholder of MTL which is a listed company on Karachi Stock Exchange, I receive their annual reports regularly. The company is consistently producing at 100% capacity meaning whatever they produce is sold in the market. Number two, every year they are adding capacity meaning their ability to producing is growing as well.
It must also be noted that MTL is one of the highest payers of dividends to shareholders. If someone had bought 1000 shares of MTL in 2003 at a price of Rs. 136 per share, they would have received Rs 193.5 as cash dividend, plus with bonuses, their 1000 shares would have been 3656 shares. In all, having received all the dividends and with today’s share price at Rs 470 per share, the value of your investment would have been Rs 2.177 million!
The point I am trying to make is that despite all its problems both actual as well as perception related, Pakistan’s economy remains robust and a goldmine for people who take risk and invest.