AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The Meezan Pakistan Exchange Traded Fund (MZNPETF) has commenced the rebalancing of its portfolio on July 3, 2024, in compliance with Section 96 of the Securities Act, 2015, Clause 5.6.1(a) of PSX Regulations, and the Offering Document of MZNPETF. The process will adjust the fund’s investments to better align with its strategic objectives.
The iNAV of the fund is currently being disseminated based on the previous basket of investments. However, it is important to note that this iNAV may not accurately represent the current underlying basket until the rebalancing is complete. According to information available from the Pakistan Stock Exchange (PSX), the rebalancing process is a routine measure intended to ensure that the fund’s portfolio remains aligned with its investment strategy and market conditions.
Once the rebalancing is finalized, the exchange will be notified, and in turn, TRE Certificate Holders will be informed of the updated composition of the fund’s portfolio. This adjustment ensures that the fund continues to operate within the regulatory framework and maintains its alignment with market dynamics.
ZCZC
Mari Petroleum Expands Mining Operations with New Licenses in Balochistan
Chagai: Mari Petroleum Company Limited (MPCL) has secured two mineral exploration licenses in District Chagai, expanding its mining operations in the resource-rich region of Balochistan, according to an announcement made today. The Directorate General Mines and Minerals Balochistan awarded Exploration Licenses EL-322 and EL-323, covering areas of 501.03 square kilometers and 512.76 square kilometers respectively, to Mari Mining Company (Pvt) Limited (MMC), a wholly owned subsidiary of MPCL.
The new licenses are part of MPCL’s strategic initiative to diversify and expand its portfolio in the mining sector. The licenses, granted for the specific areas within the Chagai district, signify a major step in MPCL’s efforts to boost the mineral mining industry in Pakistan. According to information available from the Pakistan Stock Exchange (PSX), this development is aligned with MPCL’s commitment to enhancing its contributions to the country’s mining sector growth.
MPCL established MMC specifically to undertake various mining projects across Pakistan, reflecting the company’s focus on leveraging local resources and supporting regional development. The acquisition of these licenses is expected to pave the way for significant exploration activities, which are anticipated to yield positive outcomes in terms of resource identification and extraction.
Stakeholders and TRE certificate holders have been duly notified about these developments as per regulatory requirements outlined by the Securities Act, 2015, and the PSX Regulations. This strategic move by MPCL is viewed as a significant enhancement of its capabilities and prospects in the mining industry.