2012 May : AsiaNet-Pakistan

Archive for May, 2012

PPI Original Text (PPI-OT) – AKD Quotidian about — KSE outperforms Region in May

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): Asian stocks have registered their largest monthly drop in more than 3yrs, with the MSCI Asia ex-Japan Index down 8%MoM in May 31’12 on mounting concerns over Europe’s sovereign debt crisis. According to AKD Securities, in the same timeframe, the KSE-100 Index has shed a contained 0.85% despite volatile US-Pakistan […]

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PPI Original Text (PPI-OT) – Morning Call about Hub Power Company Limited – Arif Habib Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): HUBC offers a combination of growth and Defence Hub Power Company Limited (HUBC) through a notice to Karachi Stock Exchange (KSE) has informed that company will pay PKR 1.62bn to FBR under amnesty scheme, in order to settle pending tax amount in relation to issuance of shares against the project […]

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PPI Original Text (PPI-OT) – Tax rationalization in Budget FY13 – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): The government has decided to bring tax reforms in the FY13 budget where it intends to abolish Federal Excise Duty (FED) on several items like cosmetics, filter rods, lubricating oil in packs, base lube oil, lubricating oil made from reclaimed oil, lubricating oil in bulk, lubricating oil produced from sludge […]

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PPI Original Text (PPI-OT) – Upward revision of Fiscal Deficit target to 4.9% of GDP for FY13 – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): The government has revised the fiscal deficit target to 4.9% of GDP from 4.2% projected earlier to incorporate additional expenses of PkRs 161 bn on account of high anticipated subsidies to the power sector, increase in salaries of government employees and expenditures pertaining to campaigning in the election year. Out […]

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PPI Original Text (PPI-OT) – Pak Rupee continues to weaken – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): Pakistan Rupee has further weakened against US dollar on May 30, 2012 falling by 60 – 70 paisa’s during the day to close at PkRs 93.50 in the interbank market. According to Alfalah Securities Limited, the risks on the external front are rising as the State Bank reserves are depleting […]

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PPI Original Text (PPI-OT) – HBL and BAFL to conduct due diligence of Citibank portfolio – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): State Bank of Pakistan has given permission to Habib Bank (HBL) and Bank Alfalah (BAFL) to conduct due diligence for the sale of Citibank’s Consumer Business portfolio. According to Alfalah Securities Limited, the two banks had shown interest to buy the Citibank’s assets in the end of April. The acquisition […]

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PPI Original Text (PPI-OT) – Hubcap to payoff tax liability – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): As per the Karachi Stock Exchange notice, Hub Power Company (Hubcap) has decided to pay off the tax liability of PkRs 1.65 bn which was due in lieu of withholding tax. According to Alfalah Securities Limited, the tax authorities had assessed the tax liability of PkRs 1.9 bn of which […]

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PPI Original Text (PPI-OT) – Floor price likely to be PkRs 190 for PPL’s secondary offering – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): Minister for Water and Power, Syed Naveed Qamar has approved the transaction structure and floor price of PkRs 190 per share for the Secondary Public Offering (SPO) of Pakistan Petroleum Limited (PPL). According to Alfalah Securities Limited, the Committee has decided to that 50% of the offer (23.2 mn shares) […]

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PPI Original Text (PPI-OT) – FED on cements reduced by only PkR 100/ton – Alfalah Securities Limited

[ 0 ] May 31, 2012 |

Karachi, May 31, 2012 (PPI-OT): The government has turned down the request of All Pakistan Cement Manufacturers Association (APCMA) to cut Federal Excise Duty (FED) on cements by up to PkR 250 per ton and has reduced it by only PkR 100 per ton, thereby fixing the applicable FED at PkR 400 per ton in […]

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PPI Original Text (PPI-OT) – Sheikh Abdul Waheed Acting President Federation of Pakistan Chambers of Commerce and Industry

[ 0 ] May 31, 2012 | Chambers of Commerce

Islamabad, May 31, 2012 (PPI-OT): Sheikh Abdul Waheed, Vice President and Chairman FPCCI Regional Office Lahore will be the Acting President of FPCCI, during visit abroad of Haji Fazal Kadir Khan Sherani, President FPCCI, from 1st June 2012 till his return. Sheikh Abdul Waheed is a prominent businessman of Pakistan and involved in different social […]

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PPI Original Text (PPI-OT) – Islamabad Chamber of Commerce and Industry eyes diplomats’ role important in promotion of trade relation

Islamabad, May 31, 2012 (PPI-OT): A 36-member delegation of mid-career foreign trainee diplomats led by Director General, Foreign Service Academy, Mr.Khallid Usman Qaiser visited Islamabad Chamber of Commerce and Industry (ICCI). Speaking on the occasion, Yassar Sakhi Butt, President ICCI said that foreign diplomats could play an effective role for the promotion of trade relations […]

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PPI Original Text (PPI-OT) – Commission emphasize upon Engineers of Provincial Building Department to complete under construction work of Neuroscience Block at Chandka Medical College Hospital

Larkana, May 31, 2012 (PPI-OT): Commissioner larkana Division Dr. Saeed Ahmed Mangnejo has emphasized upon the Engineers of Provincial Building Department Larkana to realize their responsibilities, complete the under construction work of Neuroscience Block CMC Hospital Larkana, under construction dental Department Building Work, Under construction OT Complex Building of CMC Teaching Hospital Larkana and construction […]

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