Pakistan Stock Exchange Limited Market Position on 12-05-2016

Karachi, May 12, 2016 (PPI-OT):

                                              DAILY STOCK MARKET REPORT

                                       Market Position Printed On May-12-2016

COMPANIES          KSE            KSE-30      KSE-100    KSE-ALLSHR   KMI-30       BATi         OGTi        KMIALLSHR
POSITION           INDICES        INDEX       INDEX      INDEX        INDEX        INDEX        INDEX           INDEX

Plus       182     Current       21105.42    36048.76   24570.97     62929.46     15462.13     14841.41       16733.00
Minus      167     Previous      21289.10    36266.23   24699.26     63265.47     15830.86     14601.93       16784.33
Unchanged   22     High          21377.30    36450.85   24829.83     63540.47     15822.44     14911.31       16862.58
Total      371     Low           21076.89    36011.96   24551.19     62872.19     15422.53     14601.93       16722.08
                   Net Change     -183.68     -217.47    -128.29      -336.01      -368.73       239.48         -51.33
                   Percentage       -0.86       -0.60      -0.52        -0.53        -2.33         1.64          -0.31

                    TURNOVER                          TRADING VALUE                          MARKET CAPITAL
Current            304,058,510                        10,377,587,543                        7,391,953,215,417
Previous           300,987,760                        12,118,004,800                        7,435,681,630,548

                                     COMPANIES REFLECTING SIGNIFICANT TURNOVER

Company Name                  Prv. Rate     Opening Rate     Closing Rate     Highest Rate     Low Rate     Turnover
Pace (Pak) Ltd.                 6.31              6.31             7.00             7.12         6.31      36,890,000
TRG Pak Ltd                    37.01             37.24            37.59            37.88        36.60      21,155,000
Lotte Chemical                  6.02              6.10             6.28             6.56         6.10      15,222,500
Dewan Motors                   16.21             16.25            16.89            17.20        16.25      14,462,000
K-Electric Ltd.                 7.43              7.39             7.32             7.47         7.28      13,462,500
Dewan Cement                   16.50             16.39            16.23            16.60        16.15      12,882,000
Descon Oxychem                  7.12              7.26             7.48             7.76         7.23      12,493,000
Sui North Gas                  36.00             35.99            35.42            36.49        35.20      11,764,500
TPL Trakker Ltd                13.67             13.80            14.11            14.36        13.75       9,941,000
Byco Petroleum                 21.00             21.30            21.38            21.75        21.05       8,515,500

                              COMPANIES REFLECTING HIGHEST INCREASE/DECREASE IN THEIR RATES

Company Name             Increased By          Closing Rate      Company Name            Decreased By      Closing Rate

Wyeth Pak Ltd                   90.00             2040.00        Nestle Pak XD                 159.00         7000.00
Sanofi-AventisXD                27.56              579.90        Pak TobaccoXD                  62.19         1181.70

                                                     FUTURE CONTRACT
                            TURNOVER                              Plus             124
Current                    35,947,000                             Minus             32
Previous                   52,426,500                             unchanged          2

Company Name                   Prv. Rate     Opening Rate   Closing Rate     Highest Rate      Low Rate     Turnover

TRG-MAY                         37.22             37.45          37.74            37.99         36.80      8,499,500
DCL-MAY                         16.56             16.49          16.30            16.68         16.24      4,602,000
SNGP-MAY                        36.11             36.10          35.58            36.40         35.35      4,142,500
TPL-MAY                         13.74             13.85          14.17            14.44         13.80      3,938,000
PAEL-MAY                        66.06             66.21          65.50            66.40         65.21      2,939,000

For more information, contact:
S. Munawar Ali
Senior Manager
Public Relations
Pakistan Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@psx.com.pk
Web: www.psx.com.pk

Ambassador of Finland visits Pakistan Stock Exchange

Karachi, May 12, 2016 (PPI-OT):His Excellency Rauli Suikkanen, the Ambassador of Finland, paid a courtesy visit to Pakistan Stock Exchange (PSX) today. He was accompanied by Ms. Hertta Alava, Director Emerging Market Funds of a major Finnish Investment Bank, FIM Finland and Ms. Sadia Khan, Honorary Consul General of Finland. He was welcomed by Mr. Muneer Kamal, Chairman-PSX Board and Mr. Muhammad Rafique Umer, officiating Managing Director-PSX. Some other directors of the Exchange, namely Mr. Moin M. Fudda and Mr. Muhammad Yasin Lakhani, CEO-NCCPL Mr. Muhammad Lukman as well as management team members were also present on the occasion.

After initiating the trading session at PSX with the opening bell ceremony, Mr. Rauli Suikkanen had a meeting with members of the Board and the management. A detailed presentation on the Economy and Capital Market was given to the Honourable guests. The Ambassador held discussion on areas of common interest with the members of the Board and management.

Mr. Muneer Kamal highlighted the improved economic situation of Pakistan and key developments at PSX including demutualization, integration of three stock exchanges, new product development, investor awareness campaign, improved outlook for listing of new companies and expected re-designation of PSX from MSCI’s Frontier Market Index to Emerging Market Index by mid-year 2016. He expressed the hope that considering the overall environment in the country duly improved and business friendly, there is enormous potential to attract Finnish investment into Pakistan.

The Ambassador stated that financial sector development, including the capital markets is a major indicator of economic development. In this regard, he was impressed by the reforms in Pakistan‘s capital market and particularly the stellar performance of Pakistan Stock Exchange in the last few months.

He appreciated the efforts and achievements of the Apex Regulator, SECP and the Stock Exchange for bringing transparency and efficiency in the stock market which would help both more companies to list and attract greater number of investors to capital market. Mr. Muneer Kamal appreciated the encouraging remarks of the Ambassador and thanked him for his interest in the Pakistan Stock Exchange and Pakistan’s socio-economic development.

For more information, contact:
Nadeem Kassim Khanani,
Public Relations,
Pakistan Stock Exchange Limited (PSX)
Cell: +92-332-3289727
Tel: +92-21-111-001122
Tel: +92-21-32428954, 35274576
Fax: +92-21-32419146
Email: nadeem.khanani@psx.com.pk
Website: www.psx.com.pk

JCR-VIS withdraws management quality rating of National Asset Management Company Limited

Karachi, May 12, 2016 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn management quality rating of “AM4” assigned to NAMCO with immediate effect on account of company’s decision to surrender its asset management license. The previous rating action was announced on May 04, 2016.

For more information, contact:
Ms. Sobia Maqbool
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk

Sindh Government’s apex committee decides to strengthen Sindh Police

Karachi, May 12, 2016 (PPI-OT):The Apex Committee after thorough discussion and deliberations has emphasized the need of make the restored peace in Karachi sustainable for which strengthening of Sindh police was decided. This decision was taken in the Apex Committee meeting held under the chairmanship of Sindh Chief Minister Syed Qaim Ali Shah here at the CM House today.

The meeting was attended by Governor Sindh Dr Ishratul Ibad, provincial ministers, Corps Commander Karachi Lt. General Naveed Mukhtar, Acting chief secretary Rizwan Memon, DG Rangers Major General Bilal Akbar, Principal Secretary Alamuddin Bullo, IG Sindh AD Khawaja and others. DG Rangers and Major General Bilal Akbar ad IGP Sindh AD Khwaja gave presentations on the performance of their forces performance and also highlighted issues and challenges. The apex committee developed new strategy to address these issues and face the challenges.

It was pointed out that there was reduction in target killing, kidnapping for ransom and extortion cases. The figures quoted in the presentation said that the cases of terrorism and target killing have reduced by 80 percent. In 2013 there were 80 to 100 target killing incidents every month but now hardly any incident takes place. Similarly, the cases of extortion have been reduced by 85 percent and kidnapping for ransom by 90 percent. In 2013 some 1774 cases of kidnapping were reported and in the first five months of 2016 only 13 cases were registered.

The meeting was told that when the operation against Chhotu Gang was launched in Punjab the Sindh Rangers had started extensive checking on the borders of Sindh-Punjab and Sindh Balochistan. The check posts were also set up along the River Indus from where penetration of terrorists was expected. On this the committee appreciated the efforts and spirit of Pakistan Rangers.

It was proudly noted that due to restoration of law and order in the city the prices of property in Karachi have increased by 23 percent. The sale in the markets of Karachi during last Ramzan jumped to Rs70 billion, sell of national flags and buntings on August 14 at Rs5 billion and trade and industry was flourishing.

The committee expressing its satisfaction on the current situation decided to develop new strategy to make the peace in the city sustainable. For which the chief minister Syed Qaim Ali Shah approved the appointments of 20,000 policemen, including 8000 in Karachi. Corps Commander Lt. General Naveed Mukhtar said that he would make necessary arrangements to train the new force by Pakistan army.

The Chief Minister told the committee that the establishment of new 10 ATC was almost at the final stage. “We are going to establish 6 ATCs at Central Jail Karachi and their buildings would beready by the mid of June 2016 and they would start functioning from July 1, 2016,” he said and added that the Sindh High Court had assured his law team that they would appoint judges for the new 10 ATCs by the time.

The chief minister also informed the meeting that he has approved the appointment of 200 prosecutors. He on the insistence of the committee directed law minister to explore the provision of appointing them as soon as possible at least for initial six months and by the time the SPSC would finalise their appointments. “I would not allow any appointment of recommendation but this must be done purely on merit,” he said.

The committee taking another decision gave go ahead to IGP to upgrade its GSM of 2G locators to the level of 4 G locators. He pointed out that the federal government was reluctant to give them NOC for purchasing other 4G GSM locators for which the chief Minister, Governor and Corps Commander assured to use their good offices to equip Sindh police with latest gadgets.

The IG said that the installation of new CCTV cameras of 10 MP would cost Rs1.76 billion. For the purpose the committee allowed the IGP to work out the issues with secretary Finance under the guideline of chief secretary. The government was committed to provide CCTV to Sindh police in the city. Finance Minister Syed Murad Ali Shah said that he would issue necessary directives to his department to arrange funds for police.

The meeting was informed that 8855 madaris have been registered and still registration of 1178 madaris was under process. It was also pointed out that over 10,000 ghost madaris have been unearthed through physical verification. This verification was made when 7724 madaris were geo-tagged.

The meeting taking another decision said that the Rangers check points set up at Sindh-Balochistan and Sindh-Punjab border would be provided necessary facilities and the other people of departments such as police, narcotics, excise, NADRA -for verification and such others would be given space there so that checking of every individual and vehicle could be made through electronic and digital equipments.

The meeting decided to strengthen Special Branch, CTD, trainings centres, Karachi police by providing them necessary equipments, vehicles, force, trainings and top of it the committee approved the compensation for killed policemen/member of LEA at Rs6 million plus two jobs for the victims family members.

The Apex Committee decided that the police would be strengthened in all intents and purposes. The chair approved the establishment of Benevolent and Welfare Board to provide necessary facilities to the policemen and their families. The committee meeting was also informed that the chief minister has approved PC-I to establish Forensic lab for technical evidence. The NADRA have also been requested to provide police access to the family tree of criminals. Now investigation has become a technical job and it must be traced through data base, the IG said.

DG Rangers major General Bilal Akbar told the meeting that he had developed National Action Plan (NAP) Software through which consolidated data of Larkana and Sukkur Divisions have been developed. In that data all madaris, NGOs, churches, Imambargahs, renowned criminals, proclaimed offenders and such others which has very easy access and it has been verified through NADRA. He added that he was developing a similar software for Karachi and others divisions. He offered the Sindh police to have access to the software for ready references.

The meeting also decided to strengthen further intelligence system so that there should not be forced collection of fitra and zakat during Ramzan. The Apex Committee also urged the IG to appoint special force for the security of Chinese working on the CPEC projects and on the other projects. Some 2000 force of ex-army men was being created. The chief minister also appreciated the collective efforts of Rangers, police, intelligence agencies and support of Corps Commander and Governor to implement NAP and make Karachi operation successful.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +92-21-99202019
Cell: +92-300-3524057 (Ext: 336)
Website: www.cmsindh.gov.pk

Karachi Chamber of Commerce and Industry optimistic about amicable resolution of Employees’ Old-Age Benefits Institution’s outstanding dues’ issue

Karachi, May 12, 2016 (PPI-OT):The leadership of Businessmen Group and Office Bearers of the Karachi Chamber have said that KCCI has been in constant touch with the concerned authority to resolve the issue pertaining to EOBI’s abrupt demand to submit outstanding dues of the past three years at revised rate which will hopefully be resolved as per aspirations of the business and industrial community.

Meanwhile, Chairman Businessmen Group and Former President KCCI Siraj Kassam Teli, Vice Chairmen BMG and Former Presidents KCCI Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Younus Muhammad Bashir, Senior Vice President KCCI Zia Ahmed Khan, and Vice President KCCI Muhammad Naeem Sharif have advised the business and industrial community, instead of going into further litigations, they should start paying their outstanding dues from April 2016 onwards at revised rates with a view to avoid further complications and legal actions and to safeguard the interest of workers.

Expressing optimism, they said that the so far progress and discussions with relevant authority indicate that the issue is likely to be taken up at the next Board meeting of EOBI, followed by appropriate recommendations to the Ministry of Overseas Pakistanis and Human Resource Development / Federal Government which is empowered to take the decision on relinquishing EOBI’s demand to submit outstanding dues of last three years at revised rates. It is hoped that with collaborative effort, the issue will be resolved soon.

BMG leadership and KCCI Office Bearers mentioned that the Karachi Chamber wrote a letter to Chairman EOBI Muhammad Sualeh Faruqui last month in which the Chamber expressed deep concern over abrupt increase in employers’ share of contribution in EOBI for social insurance and the unjust notices to industries, asking them to also submit outstanding dues of the last three years.

They believed that the decision to raise contribution, followed by unjust demand to submit dues of the last three years was practically impossible for industrialists who have already been facing immense hardships because of high cost of doing business and struggling really hard to stay afloat.

Referring to EOBI notices, they said that both the employers’ and employees’ share of contribution will now be calculated on the basis of revised minimum wages i.e. Rs. 13,000/- as amended through the minimum wages for unskilled workers Act 2016, which means that the total employers’ share of contribution including employees’ share of contribution has almost doubled as it has been raised from Rs480 to Rs780.

“Even if EOBI feels it necessary to revise contribution ratio, the Institution should implement it from April 2016 onwards. The Trade and Industry is ready to contribute at the rate of Rs13,000 but it should be collected from current month as collection of outstanding dues, apart from being un-practicable, will put an extra-burden on the industry, which has already been facing liquidity crunch due to multiple reasons”, they added.

BMG leadership and KCCI Office Bearers further pointed out that under EOBI’s Rules, a contribution equal to 5 percent of minimum wages has to be paid by the Employers of all the Industrial and Commercial Organizations while a contribution of 1 percent of minimum wages by the employees of the said Organizations has to be submitted which is an issue because of the fact that during the past three years, many employees have either retired or resigned from the registered units/ organizations, making it impossible to recover this 1 percent from such employees who are no more part of the organization and even the existing employees will also be overburdened due to upward revision of rate.

To amicably resolve this issue, they advised EOBI to immediately stop any coercive action and withdraw notices pertaining to payment of outstanding dues of the last three years and notify implementation of revised rate from current month i.e. April 2016 and not from previous years. They requested the Ministry of Overseas Pakistanis and Human Resource Development to revisit the issue in consultation with stakeholders and appropriate directives should be issued in shortest possible time to avoid any further unrest amongst the trade and industry.

For more information, contact:
Aamir Hassan
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Karachi-74000
Phone: +92-21-99218001-09
Fax: +92-21-99218040
Email: info@kcci.com.pk, secretary@kcci.com.pk
Website: www.kcci.com.pk

Awareness vital to tackle environmental degradation: Climate Change Secretary

Islamabad, May 12, 2016 (PPI-OT):Climate Change Secretary, Syed Abu Ahmad Akif, said that awareness-raising at all levels is vital to coping with environmental degradation for achieving sustainable socio-economic development goals. “Insane use of rapidly depleting natural resources is main cause of the environmental degradation, which leads to economic damages of over Rs365 billion annually.

However, creating mass awareness is inevitable to check bring about positive changes in the ways people use natural resources to fight environmental degradation,” he told a national seminar on ‘Environmental Education For Controlling Environmental Degradation’ organized by the Ministry in collaboration with Pakistan Institute for Environment-Development Action Research (PIEDAR) and the multinational oil giant – Chevron.

The event was held here at the Lok Virsa on Thursday and was attended by environmental experts, teachers, students, representatives of different government and non-governmental organisations and media. He told the participants that environmental awareness campaigns are most successful when targeted to specific groups or populations like students and teachers.

The climate change secretary said, “Many people don’t bother to pay much heed to aggravating state of environmental problems. For, they don’t understand how the problem would affect their lives and their lifestyle.” Showing people how much money they could save they spend on medical bills by drinking boiling water and checking its contamination, planting trees and by demonstrating solar panel has helped to “convert” people who normally wouldn’t have paid much attention to environmental problems,” he highlighted.

He also highlighted unprecedented significance of the role of teachers and students in overcoming the issue of environmental degradation and sustainable management of natural resources. However, empowering them with knowledge about techniques for tackling environmental degradation at household levels can boost the efforts being taken by other segments of the society to speed up tackling of the environmental degradation, he added.

“Therefore, the challenge facing humanity is to sustain the process of poverty eradication and development while shifting gears so as to avert greater damage to our environment, including from climate change. Developing countries like Pakistan must preserve development achievements while focusing more on sustainable development and shrinking environmental impacts.

Developing countries must continue to raise their people’s living standards and eradicate poverty while containing increases in their ecological footprints. Both must adapt to the impacts of the damage already done. This is a shared challenge with a goal of shared prosperity and sustainable development.

The secretary Syed Akif further said by working with the media, government agencies, non profit organizations, educational institutions could help spread their message, either by holding press briefings, issuing printed press releases, or even setting up online databases that can be used as information centres. For, information centres would be effective tools to educate both the public and journalists about environmental concerns.

The PIEDAR Executive Director, Syed Qutub Ahmad said it was a matter of deep concern and shame that the present generation is leaving behind a huge challenge for the today’s children and new generations in shape of massive environmental pollution and human-caused global warming.

“Today the most of our waters are not clean, pure and drinkable, air is becoming glowingly polluted, huge amount of fertile land is fast becoming infertile and large tracts of forest lands are becoming deforested,” he highlighted and questioned the participants that, “what sort of the world we are leaving behind for our beautiful and innocent children when everything is badly contaminated.” It is high time that all of us play part to address the environmental degradation, which has made human survival unsustainable, he urged.

For more information, contact:
Muhammad Saleem
Deputy Director
Media and Communication
Ministry of Climate Change
Government of Pakistan
LG and RD Complex, G-5/2, ISLAMABAD
Ph: 051-9245565
E-mail: moccpakistan@hotmail.com
Web: http://www.mocc.gov.pk/

Adviser to Chief Minister Sindh Abdul Jabbar Khan calls on Governor Sindh

Karachi, May 12, 2016 (PPI-OT):Adviser to CM Sindh on Cooperation Department Mr Abdul Jabbar Khan called on Governor Sindh Dr Ishrat ul Ibad khan at Governor House. He apprised the Governor about the performance and issues of the Cooperative Housing Societies. Governor Sindh said that the Cooperative Housing Societies are aimed at provision of better basic facilities to the people and can be helpful to solve the residential problems of the people in an effective manner. Appreciating the performance, Dr Ishrat ul Ibad said that surveillance and monitoring was essential and that such a system should also be devised. The adviser assured that efforts would be undertaken in this regards.

For more information, contact:
Information and Archives Department
Directorate of Press Information
Government of Sindh
95-Sindh Secretariat 4-B, Karachi
Tel: +92-21-99204423, +92-21-99204401
Website: http://sindhinformation.gos.pk