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Finance report on Engro Corporation (Pakistan) - Essay Example
Pakistan is one of the developing countries in South Asia region with relatively modest history of economic growth. Over the period of time, it has been able to register moderate growth and is currently facing strong energy crisis. …
The overall per capita income is approximately $1250 with low literacy rates and high population growth rates. Pakistan is considered as a developing country due to different factors such as higher mortality rates, low literacy ratio, high population growth rates, higher levels of poverty, lack of health care facilities, poor education system etc. It is however, important to note that Pakistan’s economy has suffered a lot in recent times due to war on terror which has created significant law and order situation. (CIA The World Factbook 2011)
Pakistan has its own Institute of Chartered Accountants which is also affiliated with the major international accountancy bodies. Over the period of time, accountancy as a profession has evolved in the country and Pakistan also exports its accountants to GCC countries especially due to overall quality and strength of its accountancy profession.
Engro Corporation is a diversified company engaged in fertilizer, food as well as energy sector. The primary markets of the firm are Pakistan where it mostly sells its output however, it also plans to expand its food business in North America also. (Najeeb 2011). Major competitors of firm include Fauji Fertilizer Limited, Nestle Limited, and Unilever Pakistan etc. ...