Breaking News

Morning Buzz for Apr 23, 2012 – MR Securities

Karachi: Capital gains tax, high interest rates and uncertainty

With capital gains tax in place, profitability will decrease and therefore much needed investment from both within and abroad will not flow into the capital market.

According to MR Securities, instead it may even force existing investors to withdraw their investments from the country’s stock exchange.

World Bank allocations unprecedented for Pakistan: Hafeez
The World Bank has allocated an unprecedented amount of $1.8b for Pakistan’s development projects, mainly in energy sector, in the current year, Finance Minister Finance Minister Dr Abdul Hafeez Shaikh.

Hike in energy prices, government borrowings show FBR’s incompetence: PEW
The Pakistan Economy Watch (PEW) on Sunday said that frequent upward revisions in the fuel and electricity prices and continued government borrowings indicate tax collectors incompetence.

Only 10pc Pakistanis have bank accounts: WB
Pakistan, where only 10 percent adults have bank accounts, stands at the bottom in terms of financial inclusion compared with other South Asian countries, said a recent World Bank report.

LPG, CNG or LNG-based pipeline projects: anti-domestic user guidelines not approved
Economic Co-ordination Committee (ECC) has reportedly not cleared anti-domestic consumer policy guidelines regarding LPG air-mix, CNG or LNG-based pipeline distribution projects.

RPPs — never a long-term solution
The Supreme Court of Pakistan had agreed to not to interfere in economic matters, however, the detailed judgment in the matter of Rental Power Projects (RPPs) shows the apex court has charted into that territory once more.

SBP to renew Exchange Companies’ licenses under revised criteria
SBP has announced to renew the licenses of Exchange Companies (ECs) on the bases of “Compliant” and only ”Fully Complaint” EC will be eligible for renewal of license for a period of three years.

BoK Raast Islamic Banking branch opens in SITE area
Bank of Khyber (BoK) is committed to cater banking requirements of Islamic Banking along with conventional banking facilities in befitting manner to encourage economic developmental activities.

National savings, investment targets clipped
Pakistan’s national savings and investment targets have been revised downward for the current fiscal year in the macroeconomic framework finalised by the economic team and submitted for approval.

TAPI gas pipeline project: India, Afghanistan agree on transit fee
Petroleum Minister Dr Asim Hussain announced that Afghanistan and India have agreed on a transit fee of 49.49 US cents per MMBTU for Turkmenistan- Afghanistan-Pakistan-India (TAPI) gas pipeline project, and the final agreement in this regard will be signed on May 24.

Turkmen gas project: US had nothing to do with price cut, says minister
Petroleum Minister Dr Asim Hussain on Friday rejected the impression that Turkmenistan had cut the price of gas because of American influence.

NTDC prepares 6 alternative power supply plans: provinces agree 5-day working week
The National Transmission and Dispatch Company (NTDC) is learnt to have prepared six alternative plans to supply electricity to provinces on equitable basis.

Shell posts Rs 223.642 million loss after tax
Shell Pakistan Limited has posted Rs 223.642 million as loss after tax in the quarter ended on March 31, 2012 as compared to after tax profit of Rs 758.401 million in the corresponding quarter in 2011.

Lubricant oil: APLMA for introducing price control mechanism
All Pakistan Lubricants Manufacturers Association Chairman (APLMA) Mian Zahid Husain expressed concern prices of lubricant oil will go up Rs 3/litre if prices of lube base oil is increased by Rs 2/litre.

OGDC’s dormant fields: Centre moves to cancel gas allocation for Sindh
The central government has decided to cancel the gas allocation to Sindh from dormant fields of the Oil and Gas Development Company (OGDC), a move that will save company from a loss of over Rs5b pa.

New programme: Mounting foreign debt may need IMF’s helping hand
Pakistan may opt for another International Monetary Fund (IMF) monetary package, after the lender raised concerns over the country’s ability to repay foreign debts in the next financial year.

Unilever profits grow 16% despite tough times
Unilever Pakistan has managed to grow profits by 16% during January to March 2012, much higher than the growth in sales of 11%.

Services sector’s deficit crosses $2 billion mark
The country’s services trade deficit crossed $2 billion mark during first nine months of the current fiscal year followed by a hike in imports and a slowdown in exports.

Import of textile machinery: Law and order, energy crisis cause 59pc cut
The import of textile machinery has slumped by 59 percent during March this year due to the phenomenal decrease in textile exports and output capacity caused by the country’s worst law and order situation coupled with severe energy crisis

Check Also


Minister for Kashmir Affairs and Gilgit-Baltistan Chaudhry Barjees Tahir has said that the government is making efforts to achieve the targets of development as envisioned by Quaid-e-Azam Muhammad Ali Jinnah. Addressing a ceremony in Nankana Sahib toda...

Leave a Reply

Your email address will not be published. Required fields are marked *