News stories for Hamid Waleed - Business Recorder

Hamid Waleed

FBR unlikely to achieve Rs3.908trn revised tax target

The Federal Board of Revenue (FBR) will not be able to meet the revised target of Rs 3.908 trillion for 2019-20 even after the resumption of economic activity during the last fortnight of Ramazan for Eid-ul-Fitr, sources said.

Published 31 May, 2020 12:04am

Experts say cut in NSS rates, oversubscription of Sukuk to provide financial space

A cut of 5.42 percent in the profit rates of National Savings Scheme (NSS) and a 70 percent oversubscription in the energy Sukuk would provide a financial space to the government for continuity of social protection in the current challenging times, said f

Published 29 May, 2020 12:05am

Pakistan

Tier-1 retailers: 'Minimum area for shops be increased to 3000 square feet'

Minimum area of shops for the tier-1 retailers should be increased to 3000 square feet from existing 1000 square feet to make the point of sale (POS) integration drive viable. Also the minimum limit of electricity bills should be enhanced to Rs 2.4 millio

Published 28 May, 2020 12:03am

Pace of Ehsaas Program termed slow: Many families not to receive cash transfer before mid-June: Dr Pasha

With the current pace of the Ehsaas Program, there are many families that would not receive the cash transfer before mid-June over two months of the commencement of the disbursement process, said renowned economist and former finance minister Dr Hafiz Pas

Published 27 May, 2020 12:06am

NBP foresees limited credit offtake

National Bank of Pakistan (NBP) management is expecting that the credit offtake will remain restricted in the coming months as supply chains adjust to the economic impacts. Therefore, the risk management function of the bank is regularly conducting assess

Published 23 May, 2020 12:06am

'Nepra equally responsible for mismanagement in power sector'

The National Electric Power Regulatory Authority (Nepra) is equally responsible for mismanagement and bad governance in the power sector and cannot shift the entire blame on the distribution companies (DISCOs)/power division as it has been allowing justif

Published 22 May, 2020 12:03am

Transport: Reduction in fares can help subdue inflation: Pasha

The rate of inflation may come down to 6 percent from the current 8.5 percent if transport fares come down fully to reflect the saving in fuel costs of over 30 percent after reduction in the petroleum prices by the government since end of March, said reno

Published 21 May, 2020 12:09am

Nepra admits four applications from private housing societies

The National Electric Power Regulatory Authority (Nepra) had admitted four applications for the grant of electric supply license from the private sector housing societies.

Published 21 May, 2020 12:09am

Diamer-Bhasha Dam: Wapda chief visits site to review arrangements

Following the award of contract for construction of main dam of Diamer Basha Dam Project last week, the Pakistan Water and Power Development Authority (Wapda) Chairman Lt Gen Muzammil Hussain (retd) Tuesday visited the project site to review on-ground arr

Published 20 May, 2020 12:05am

Former ZTBL president for revival of KSSL, AZS

The State Bank of Pakistan (SBP) should ask the Zarai Taraqiati Bank Ltd (ZTBL) to revive Awami Zarai Scheme (AZS), reactivate Kissan Support Services Ltd (KSSL) and pursue the commercial banks through penalties to disburse agricultural credit to farmers.

Published 17 May, 2020 12:03am

Industrial activity: Power sector revenue drops by 67 percent?

Power sector revenue has dropped by 67 percent in terms of industrial activity during lockdown due to Coronavirus in the country, said Pakistan Electric Power Company (PEPCO) sources.

Published 16 May, 2020 12:07am

No major change in tax rates likely during next fiscal year

No major change in tax rates is expected during the next fiscal budget as there is a general understanding in the Federal Board of Revenue (FBR) that any change would lead to unnecessary hue and cry on the part of taxpayers, said the Board sources.

Published 15 May, 2020 12:05am

'Unity in diversity' basic theme of 18th Amendment: Pasha

'Unity in diversity' is the fundamental theme of the 18th Amendment, which means that the federating units should be given those responsibilities which they are able to perform, said renowned economist and former finance minister Dr Hafiz A Pasha.

Published 14 May, 2020 12:04am

Pakistan

Technical deficiencies of PRAL affecting FBR's IT systems

The Pakistan Revenue Automation Ltd (PRAL) has many technical deficiencies hindering its progress on development of effective IT systems for the Federal Board of Revenue (FBR), said the Board sources.

Published 12 May, 2020 12:06am

Payment of wages: SBP may enhance limit of loans from Rs 500 million to Rs 1 billion

The State Bank of Pakistan (SBP) is likely to enhance the limit against loans from Rs500 million to Rs1 billion to finance three-month wages, said reliable banking industry sources. The central bank is also considering to waive off the condition of 'no la

Published 10 May, 2020 12:02am

Government may issue infrastructure bonds: expert

The federal government can issue infrastructure bonds and municipal bonds for development projects to boost economic activity and mitigate the impact of Covid-19 spread.

Published 09 May, 2020 12:06am

Government to provide cash flow assistance to MSMEs in three areas

The federal government is planning to provide cash flow assistance to Micro, Small & Medium Enterprises (MSMEs) in three types of areas - loss of investment, fixed assets and clearance of pending payments to restart businesses.

Published 08 May, 2020 12:05am

Markets

Concealment of billions detected under garb of agriculture income

Massive concealment of billions of rupees has been detected under the garb of agriculture income where influential individuals have neither declared income nor paid tax to the provincial authorities, said Federal Board of Revenue (FBR) sources.

Published 07 May, 2020 12:02am

Pakistan

Government set to finalize cash flow support plan for MSMEs

The federal government is set to finalize cash flow support plan for micro, small & medium enterprises (MSMEs) to disburse Rs 300 billion including Rs 12000 per head cash transfer to six million daily wagers, payment of six months electricity bills, and r

Published 06 May, 2020 12:04am

Business & Finance

Experts call for 80 percent power generation through alternative renewables

Pakistan would be failed as a nation in the next 27 years if it does not generate 80% of its energy demand from the alternative renewables including hydel, solar, wind, and biomass.

Published 05 May, 2020 12:06am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Feb 4	279
USD PKR Interbank Buying / Feb 4	278.80
USD to Japanese Yen / Feb 5	152.69
USD to Swiss Franc / Feb 5	0.90
Pound Sterling to USD / Feb 5	1.25
Euro to USD / Feb 5	1.04
UK LIBOR % / Feb 5	4.96

Stock	Volume
S&P 500 / Feb 5	6,049.46
India Sensex / Feb 5	78,271.28
Tokyo Nikkei / Feb 5	38,831.48
Nasdaq / Feb 5	19,692.33
Hang Seng / Feb 5	20,597.09
FTSE 100 / Feb 5	8,623.29
Dow Jones / Feb 5	44,873.22
Germany DAX 30 / Feb 5	21,585.93
France CAC40 / Feb 5	7,891.68

Item	Value
Crude Oil USD/Barrel / Feb 5	71.21
Karachi Cotton PKR/37.32 KG / Feb 5	18,285
Gold 10 Grams PKR / Feb 5	252,314
Gold Spot USD/Ounce / Feb 5	2,862.53
Cotton US¢/pound / Feb 5	66.04
Petrol/Litre / Feb 6	257.13
Diesel/Litre / Feb 6	267.95

Gainers
Losers
Leaders

Stock	Price
Universal Ins. / Feb 6 The Universal Insurance Company Limited(UVIC)	12.85 ▲ 1.17 (10.02%)
National Silk / Feb 6 The National Silk & Rayon Mills Limited(NSRM)	40.82 ▲ 3.71 (10%)
First Tri-Star Mod. / Feb 6 First Tri-Star Modaraba(FTSM)	13.76 ▲ 1.25 (9.99%)
Saritow Spinning / Feb 6 Saritow Spinning Mills Limited(SSML)	21.69 ▲ 1.97 (9.99%)
Sanghar Sugar / Feb 6 Sanghar Sugar Mills Limited(SANSM)	49.34 ▲ 4.44 (9.89%)
LSE Ventures / Feb 6 LSE Ventures Limited(LSEVL)	12.59 ▲ 1.09 (9.48%)
Chashma / Feb 6 Chashma Sugar Mills Limited(CHAS)	89.90 ▲ 7.43 (9.01%)
Imperial Limited / Feb 6 Imperial Limited(IML)	20 ▲ 1.5 (8.11%)
Silk Bank Ltd / Feb 6 Silkbank Limited(SILK)	1.11 ▲ 0.08 (7.77%)
Arpak Int. / Feb 6 Arpak International Investments Ltd.(ARPAK)	70 ▲ 4.99 (7.68%)

Stock	Price
Parmount Sp. / Feb 6 Paramount Spinning Mills Limited(PASM)	4.30 ▼ -0.5 (-10.42%)
Burj Clean Energy Modaraba / Feb 6 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	9 ▼ -1 (-10%)
GOC (Pak) / Feb 6 GOC (Pak) Limited.(GOC)	60.16 ▼ -6.68 (-9.99%)
Leather Up Ltd. / Feb 6 Leather Up Limited(LEUL)	39.18 ▼ -4.35 (-9.99%)
Suhail Jute / Feb 6 Suhail Jute Mills Limited(SUHJ)	81.02 ▼ -8.55 (-9.55%)
TPL Life Insur. / Feb 6 TPL Life Insurance Limited(TPLL)	47.01 ▼ -4.81 (-9.28%)
PIA Holding Co.B / Feb 6 PIA Holding Company Limited B(PIAHCLB)	860.33 ▼ -87.67 (-9.25%)
Pak Leather / Feb 6 Pak Leather Crafts Limited(PAKL)	36.12 ▼ -3.36 (-8.51%)
Masood Textile / Feb 6 Masood Textile Mills Limited(MSOT)	47.15 ▼ -4.36 (-8.46%)
DH Partners / Feb 6 DH Partners Limited(DHPL)	54.01 ▼ -4.96 (-8.41%)

Stock	Volume
Silk Bank Ltd / Feb 6 Silkbank Limited(SILK)	63,092,491 ▲ 0.08
WorldCall Telecom / Feb 6 Worldcall Telecom Limited(WTL)	54,615,977 ▼ -0.02
Bank Makramah / Feb 6 Bank Makramah Limited(BML)	33,311,801 ▲ 0.23
Cnergyico PK / Feb 6 Cnergyico PK Limited(CNERGY)	21,090,416 ▼ -0.2
K-Electric Ltd. / Feb 6 K-Electric Limited(KEL)	20,621,518 ▼ -0.06
National Bank / Feb 6 National Bank of Pakistan(NBP)	16,342,844 ▼ -2.29
B.O.Punjab / Feb 6 The Bank of Punjab(BOP)	16,293,624 ▼ -0.23
Pak Refinery / Feb 6 Pakistan Refinery Limited(PRL)	14,915,543 ▼ -0.95
Fauji Cement / Feb 6 Fauji Cement Company Limited(FCCL)	12,847,614 ▼ -0.69
Sui South Gas / Feb 6 Sui Southern Gas Company Limited(SSGC)	12,438,866 ▼ -1.17

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