Karachi: Record GST collected in July despite rate cut Despite reduction in the rate from 17% to 16%, the net sales tax have shown record collection of Rs 55.513bn during July 2011 against Rs 40.800bn in the corresponding period of last fiscal year, indicating an increase of 67%. According to …

Karachi: Current account deficit narrows to $75m in July According to MR Securities, Pakistan’s current account deficit narrowed to $75 million in the first month of the current fiscal year compared to $631 million in July last year, central bank data showed on Wednesday. PIBs auction: bids worth Rs 41.2 …

Karachi: The Board of Directors of Al-Ghazi Tractors (AGTL) is scheduled to consider the company’s 1HCY11 financial results today. According to AKD Securities expects AGTL to report NPAT of PkR1 ,14Omn (EPS: PkR26.54) in 1HCY11 against NPAT of PkR998mn (EPS: PkR23.24) in 1HCY10, translating into a growth of 14%Y0Y. Growth …

Karachi: The MSCI indices provider has maintained a status quo on the weights of Pakistan’s stocks at 3.98% in the Frontier markets. According to Alfalah Securities Limited, Pakistan’s stocks weightage has witnessed a slight decline from its preview in May at 4.09%, primarily on the current ruling prices.

Karachi: The Current Account Deficit stood at USD 75 mn in July 2011 against USD 631 mn in July 2010, depicting a decrease of 88% on YoY basis. According to Alfalah Securities Limited, this decline in Current Account deficit is attributable to a significant cut in import of trade goods, …

Karachi: The Large Scale Manufacturing (LSM) registered an insignificant growth of 1.14% in FY11 as compared to the corresponding period last year, on account of improved performance by the textile, automobile, electronic goods and sugar sector. According to Alfalah Securities Limited, the large scale manufacturing (LSM) is being said to …

Karachi: The Ministry of Finance and Planning Division has opposed the hike in profit margins of Oil Marketing Companies (OMCs) and Dealer’s commission considering the fact that this hike would result in a significant increase in the price of Motor Spirit (MS) and High Speed Diesel (HSD) by PkR1.73 per …