Srinagar, June 20, 2013 (PPI-OT): In occupied Kashmir, the Jammu and Kashmir Peoples Movement has denounced police action against party leaders including Qaisar Sajjad Mir, the son of Ghulam Ahmad Mir, and Farooq Ahmed Khan at Thanamandi in Rajouri. The police prevented JKPM leaders from visiting Rajouri along with party …

Srinagar, June 20, 2013 (PPI-OT): In occupied Kashmir, the Chairman of Jammu Kashmir Liberation Front, Muhammad Yasin Malik has said that Kashmir is actually a police state where there is blanket ban on speaking and holding peaceful processions and public rallies. Muhammad Yasin Malik in a statement in Srinagar said, …

Karachi, June 20, 2013 (PPI-OT): JCR-VIS Credit Rating Company Limited has upgraded the Insurer Financial Strength (IFS) rating of Pak Qatar General Takaful Limited (PQGTL) to ‘A-’ (Single A Minus) from ‘BBB+’ (Triple B Plus). Outlook on the assigned rating is ‘Stable’. The assigned rating incorporates the ownership structure of …

Karachi, June 20, 2013 (PPI-OT): JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of AKD Aggressive Income Fund (AKD-AIF) at ‘BBB (f)’ (Triple B (f)). As an aggressive income fund, AKD-AIF can invest in a broad spectrum of assets, with varying credit risk profiles while also …

Karachi, June 20, 2013 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned preliminary medium to long term rating of ‘AA-’ (Double A Minus) to Sitara Islamic Participation Term Certificates (PTCs) of Rs. 1.0 billion proposed to be issued by Sitara Chemical Industries Limited (SCIL). Outlook on the rating is …

Lahore, June 20, 2013 (PPI-OT): The management of Halmore Power Generation Company Limited (HPGCL) has decided to terminate the rating relationship. Consequently, PACRA withdraws the entity ratings [Long-term: A (Single A), and Short-term: A1 (A One) with ratings under watch] of HPGCL with immediate effect. For more information, contact: Hammad …

Islamabad, June 20, 2013 (PPI-OT): On the directive of the Federal Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization Mr. Mohammad Ishaq Dar, Chairman FBR Mr. Ansar Javed has directed all LTUs and RTOs to strictly monitor that no Sales Tax is collected on essential items exempt under section …