General

Karachi, Al Meezan Investment Management Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at the registered office on August 31, 2016. The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2016 which portrayed a profit of 4,836,135 for Meezan Islamic Fund. Rs. 11,346 for Al Meezan Mutual Fund, Rs. 105,131 for KSE Meezan Index Fund, Rs. 514,704 for Meezan Balanced Fund, Rs. 321,268 for Meezan Islamic Income Fund, Rs. 375,055 for Meezan Sovereign Fund, Rs. 101,776 for Meezan Cash Fund, Rs. 1,061,212 for Meezan Financial Planning Fund and Rs. 123,316 Meezan Capital Preservation Fund-II. Al Meezan Investment Management Limited (Al Meezan) is the subsidiary of Meezan Bank Limited. It has successfully completed 20 years of its existence in 2015. This is one of the longest track records in private sector in the area of investment management in Pakistan and has emerged as one of Pakistan’s leading investment solutions provider in a Shariah compliant manner. Al Meezan has recorded phenomenal growth over the last five years with its Assets under management (AUMs) growing from PKR 17.8 billion in January 2010 to about PKR 66.4 billion on June 30, 2015 reflecting an impressive 273% growth in AUMs in the last five years. Al Meezan is also the manager of Pakistan’s Largest Equity Fund -Meezan Islamic Fund and the Largest Pension Fund – Meezan Tahaffuz Pension Fund in Private sector, currently with assets under management of Rs 27 Billion and about Rs. 4.5 Billion as on June 30, 2015 respectively. The symbol “OEFMIF” is being used by the stock exchange for the shares of Al Meezan Investment Management Limited.

Karachi, Bank of Punjab informed Pakistan Stock Exchange about appointment of Dr. Pervez Tahir as Chairman with effect from August 31, 2016 in place of Mr. Ghafoor Mirza. The Bank of Punjab constituted pursuant to The Bank of Punjab Act, 1989. It acquired the status of a scheduled bank on September 19, 1994 awarded by the State Bank of Pakistan. The registered office of the bank is located in Lahore along with a growing number of 306 branches. Majority shares of the bank are held by the Government of Punjab. The bank is listed on Karachi, Lahore and Islamabad stock exchanges. The bank has also acquired the permission for commencement of Islamic Banking Operations by the State Bank of Pakistan. The products of the bank include Islamic banking, retail banking, retail finance, payment services, corporate banking and commercial banking. The symbol “BOP” is being used by the stock exchanges for the shares of The Bank of Punjab.

Karachi, Agritech Limited informed Pakistan Stock Exchange that Mr. Asim Imtiaz Basra and Mr. Masroor Ahmed has ceased to be the Director the company with effect from August 30, 2016. Agritech Limited Pakistan was incorporated in Pakistan on December 15, 1959 as an unlisted Public Limited Company under the Companies Ordinance 1984. It is a wholly owned subsidiary of National Fertilizer Corporation of Pakistan Private Limited, a Government owned Corporation, until July 15, 2006. Later amalgamation of Hazara Phosphate Fertilizers Private Limited, a wholly owned subsidiary of the Company took place dated May 23, 2012. The company stocks are quoted on the Karachi Stock Exchange. The registered head office of the company is located in Lahore. The principal business of the company is the production of Urea and Granulated Single Super Phosphate fertilizer. The products of the company include Tara urea, Tara SSP and DAP. The symbol “AGL” is being used by the stock exchange for the shares of Agritech Limited.

Karachi, Reliance Weaving Mills Limited informed Pakistan Stock Exchange about transaction of shares of the company. 05 shares @ Rs. 10 per share were bought physically. Reliance Weaving Mills Limited is a company incorporated in Pakistan as a public limited company on 7 April 1990. The foundations of the company are laid under the Companies Ordinance, 1984. The company commenced its operations on May 14, 1990 and is principally engaged in the manufacture and sale of yarn and fabric. The principal business of the company is manufacture and sale of cotton yarn and grey woven fabric. The shares of the company are quoted on Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Multan. The symbol “REWM” is being used by the stock exchange for the shares of Reliance Weaving Mills Limited.

Karachi, August 31, 2016 (PPI-OT): Law Department notified that with the approval of the Competent Authority (Chief Minister), Government of Sindh has established “Provincial Task Force on Human Rights” which […]

Karachi, August 31, 2016 (PPI-OT): Provincial Minister for Excise and Taxation Mukesh Kumar Chawla , while directing the Excise Department officers to speed up their launch regarding tax collection, has […]

Karachi, August 31, 2016 (PPI-OT): Provincial Minister for Education and Literacy Jam Mehtab Hussain Dahar has said that time has come to fill the gap between the students of urban […]