Year 2024:


WIRES AND CABLES

March 2024

Wire and cable refer to an uninsulated single conductor, primarily composed of copper or aluminum, facilitating electricity transmission.....

TELECOMMUNICATION

March 2024

Telecommunications involves transmitting data over distances using electronic means, utilizing technologies like phones, radios, computers, and the internet.....

SECTOR OUTLOOK INSURANCE

FEBRUARY 2024

Insurance is a financial product that provides protection against potential future losses or risks. It involves paying regular premiums to an insurance company,.....

Year 2023:


Steel Industries Sector Report

November, 2023

Steel is the world’s most important engineering and construction material. It is used in multiple industries like automobile, construction, consumer goods, cargo ships, surgical equipment....

PAKSTAN PHARMACEUTICAL SECTOR REPORT

October, 2023

Pharmaceutical is a critical sector that impacts public health globally. It plays vital role in healthcare system by researching, developing....

AUTOMOBILE SECTOR STUDY

October, 2023

The automobile industry in Pakistan includes companies involved in the production and assembling of passenger cars, light commercial vehicles, trucks, buses, tractors and motor cycles....

PAKISTAN ASSET MANAGEMENT SECTOR

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....

PAKISTAN CEMENT SECTOR REPORT

September, 2023

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....

Textile Sector

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....

Pakistan Mutual Funds Star Rankings Report

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......

BROKERAGE AND SECURITIES SECTOR REPORT

OCTOBER, 2023

A brokerage company primarily acts as a middleman, connecting buyers and sellers to facilitate a transaction on behalf of an individual, business......

Mutual Funds Star Rankings Report

SEPTEMBER, 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 that compares......

POWER SECTOR REPORT

September, 2023

Electricity generation is the process of generating electric power from sources of primary energy. Usable electricity is not freely available in nature......

PAKISTAN SUGAR SECTOR REPORT

September, 2023

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......

Pakistan Mutual Funds Star Rankings Report

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:


Pakistan Mutual Funds Star Rankings Report

December, 2022

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......

Pakistan Mutual Funds Star Rankings Report

September, 2022

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......

INDUSTRY RISK ANALYSIS - Hospitality

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.....

INDUSTRY RISK ANALYSIS - Fertilizer

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.....

INDUSTRY RISK ANALYSIS - Confectionary

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.....

Pakistan Mutual Funds Star Rankings Report

June, 2022

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......

LIFE INSURANCE

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.....

Pakistan Mutual Funds Star Rankings Report

March, 2022

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......

INDUSTRY RISK ANALYSIS - Vanaspati and Allied

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......

INDUSTRY RISK ANALYSIS - Renewable Energy

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......

INDUSTRY RISK ANALYSIS - Non-Renewable Energy

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......

INDUSTRY RISK ANALYSIS - Chemical

April, 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......

INDUSTRY RISK ANALYSIS - Textile

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...

INDUSTRY RISK ANALYSIS - Leather

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 within a given industry.....

Year 2021:


INDUSTRY RISK ANALYSIS - Oil and Gas

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....

INDUSTRY RISK ANALYSIS - Automobile

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....

INDUSTRY RISK ANALYSIS - Cement

October, 2021

Cement industry of Pakistan comprises of 25 cement manufacturing plants owned by 17 companies as per All Pakistan Cement Manufacturing Association (APCMA).

MICROFINANCE

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, ...

Banking Industry

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...

Industry Risk Analysis

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...

Pakistan Mutual Funds Star Rankings Report

December, 2021

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....

INDUSTRY RISK ANALYSIS - Pharmaceutical

October, 2021

Assessment of the risks inherent to the industry in which the company operates is one of the essential steps during the credit rating process....

Pakistan Mutual Funds Star Rankings Report

September, 2021

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....

EDIBLE OIL

September, 2021

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%....

Pakistan Mutual Funds Star Rankings Report

June, 2021

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:


Paper & Paper Board Industry

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...

Insurance Industry

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 Made-Up Sector Amid Covid-19

August 2020

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...

Automobile Sector

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...

Microfinance - COVID-19 Impact

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...

Mutual Fund Star Ranking

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...

Leather

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...

Household Electronics Sector Amid COVID-19

August, 2020

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...

Power

April, 2020

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...

Covid-19

April, 2020

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...

Asset Management Companies

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...

Banking Industry

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:


Paper and Paper Board Industry

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...

Non-Life Insurance

December, 2019

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 ...

Wires and Cables

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...

Paperboard

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...

Brokerage

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...

MICROFINANCE BANKS

November, 2019

Over the past decade, microfinance banking industry has become a significant player in providing access to financial services to the underserved...

Milk Sector

October, 2019

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...

Fertilizer Sector

August, 2019

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 Companies

August, 2019

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...

Sugar Industry

March, 2019

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...

Rice Industry

February, 2019

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%...

Cement Industry

February, 2019

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:


Non-Life Insurance

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...

Automobile

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...

Edible Oil

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...

Sugar

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...

Health Care

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...

Cement

September, 2018

Geographically the cement industry in Pakistan is divided into two divisions; namely Southern & Northern region. Province of Punjab, Khyber Pakhtunkhwa, Azad Kashmir...

AMCs

June, 2018

During the past decade, asset and wealth management industry has witnessed considerable growth globally on account of increase in quantum...

Pharmaceutical

March, 2018

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...

Year 2017:


Leather Industry

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...

Oil Marketing Companies

October, 2017

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...

Fertilizer Sector

September, 2017

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...

Long Steel

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...

Rice Sector

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...

Telecom Industry

October, 2017

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...

Flat Steel

September, 2017

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...

Steel Pipes

August, 2017

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...

Microfinance Sector

June, 2017

Over the past decade, microfinance banking industry has become a significant player in providing access to financial services to the underserved ...

Cement Sector

March, 2017

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:


Fertilizer Industry

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...

Textile Industry

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...

Commercial Banks

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%...

Brokerage Firms

May, 2016

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...

Cement Sector

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.

Fertilizer Sector

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...

Steel Industry

December, 2016

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...

Oil Marketing Companies

October, 2016

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...

Aviation Industry

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 ...

Life Insurance

June, 2016

With significant growth in Assets under Management of most life insurance companies, the importance of further strengthening the investment management function...

Microfinance Sector

May, 2016

The microfinance sector has become a significant player in providing access to credit to the largely underserved low income population of the country...

Rice Sector

January, 2016

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:


Commercial Banks

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...

Microfinance Sector

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...

Sugar Sector

November, 2015

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:


Microfinance Sector

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:


Rice Industry

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...

Power Generation Industry

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...

Microfinance Banks

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...

Sugar Industry

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...

Textile Industry

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...

Leather Industry

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:


Chemical Industry

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...

Sugar Industry

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...

Confectionery Industry

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%)...

LPG Industry

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 Industry

December, 2011

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...

Fertilizer Industry

April, 2011

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...

Power Generation Industry

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...