News Archives for Print - 2019-08-31

Advisor to Prime Minister on Finance, Abdul Hafeez Shaikh has asked the management of Pakistan International Airlines (PIA) to effectively utilise its assets, improve revenue streams and ensure efficiency and financial discipline. The government wants the

Published 31 Aug, 2019 12:00am

Exchange

Absence of Commercial Counsellors

According to a report in this newspaper on 26th August, 2019, the government has called back around 40 commercial counsellors without replacing them with the new ones which may hamper country's export prospects as well as exacerbate hardships for business

Updated 31 Aug, 2019 07:11am

Saudi FM concerned at complex situation

Saudi Foreign Minister Dr Ibrahim bin Abdulaziz Al-Assaf has expressed concern over complex situation in Indian occupied Jammu and Kashmir during telephonic conversation with Foreign Minister Shah Mehmood Qureshi. According to statement of the Foreign Off

Published 31 Aug, 2019 12:00am

Exchange

Payment mechanism: Government, three IPPs to sign interim agreements

The federal government has reportedly reached an understanding with three Independent Power Producers (IPPs) to sign interim agreements on payment mechanism similar to the pacts signed by PML (N) government with six IPPs, well informed sources told Bus

Published 31 Aug, 2019 12:00am

Exchange
Payment mechanism: Government, three IPPs to sign interim agreements

The federal government has reportedly reached an understanding with three Independent Power Producers (IPPs) to sign interim agreements on payment mechanism similar to the pacts signed by PML (N) government with six IPPs, well informed sources told Bus
Published 31 Aug, 2019 12:00am

Bailable arrest warrants for ex-PM Pervez Ashraf issued

An accountability court on Friday issued bailable arrest warrants of former prime minister Raja Pervez Ashraf in case of making illegal appointments in Gujranwala Electric Power Company (Gepco). Earlier, the counsel of Pervez Ashraf appeared before the co
Published 31 Aug, 2019 12:00am

'Jihad' petition turned down by court

The Islamabad High Court Friday turned down a petition seeking the court's order to direct the government to declare Jihad (sacred war) in Kashmir. A single bench of IHC comprising Chief Justice Athar Minallah heard the petition and dismissed the same by
Published 31 Aug, 2019 12:00am

Assam on alert ahead of publication of citizenship register

Tens of thousands of paramilitary personnel and police were deployed in India's border state of Assam on Friday, the eve of the publication of a citizenship register that could leave millions of people stateless, many of them Muslims. For the last four ye
Published 31 Aug, 2019 12:00am

LNG case: Remand of Miftah, ex-MD PSO extended

The Accountability Court Friday extended physical remand of former Finance Minister Miftah Ismail and ex-Managing Director Pakistan States Oil (PSO) Sheikh Imran-ul-Haq for another 14 days in the liquefied natural gas (LNG) case. The officials of National
Published 31 Aug, 2019 12:00am

Reduction in prices of POL products: Lack of coordination creates confusion

A lack of coordination among various Divisions created confusion about the size of reduction in the prices of petroleum products for the month of September. In separate tweets, Minister for Petroleum Omar Ayub Khan and Special assistant to Prime Minister
Published 31 Aug, 2019 12:00am

US service member killed in Afghanistan

A US service member was killed in Afghanistan during combat operations, the NATO-led Resolute Support mission said in a statement on Friday, as the United States seeks to reach a negotiated end to the nearly 18-year-old war. It said the service member die
Published 31 Aug, 2019 12:00am

Raw tea to be assessed on basis of average retail price: FBR

To facilitate tea manufacturers of famous brands, the Federal Board of Revenue (FBR) has exempted tea manufacturers from fixation of retail price of imported raw tea for the purpose of calculation of sales tax. The FBR has issued Sales Tax General Order n
Published 31 Aug, 2019 12:00am

Exchange
Country averted ratings downgrade: SBP chief

State Bank of Pakistan (SBP) Governor Dr Reza Baqir Friday said that Pakistan's strategy was very successful in the recent meeting of Asia Pacific Group (APG) of Financial Action Task Force (FATF) as the country avoided any downgrade in individual ratings
Published 31 Aug, 2019 12:00am

Exchange
Government optimistic about FATF prospects

The government has made positive progress in compliance with the recommendations of Financial Action Task Force (FATF) after April 2019 and would submit a report to its Working Group in September 2019. This was stated by Minister for Economic Affairs Divi
Published 31 Aug, 2019 12:00am

India growth slows to 5 percent in fresh blow to Modi

India's economic growth slowed for the fifth straight quarter in the April-to-June period to 5.0 percent, government figures showed Friday in a fresh blow to Prime Minister Narendra Modi. But in an effort to ease the liquidity crunch that has dogged Asia'
Published 31 Aug, 2019 12:00am

Proposed amendment to law: Public servant will be entitled to bail if NAB fails to complete probe

A public servant would be entitled to bail if National Accountability Bureau (NAB) fails to complete investigation within three months, say the amendments proposed by the government in the existing National Accountability Ordinance (NAO) 1999. According t
Published 31 Aug, 2019 12:00am

Exchange
KSE-100 Index stays bearish: BRIndex100 extends losses

Pakistan Stock Exchange Friday witnessed another bearish session due to panic selling on investor concern over geopolitical and economic situation. BRIndex100 lost 70.97 points or 2.26 percent to close at 3,075.81 points. BRIndex100 touched intraday high
Published 31 Aug, 2019 12:00am

Exchange
KSE-100 Index stays bearish: BRIndex100 extends losses

Pakistan Stock Exchange Friday witnessed another bearish session due to panic selling on investor concern over geopolitical and economic situation. BRIndex100 lost 70.97 points or 2.26 percent to close at 3,075.81 points. BRIndex100 touched intraday high
Updated 31 Aug, 2019 04:33am

PM tells economic team to focus on SMEs promotion

A meeting of the economic team chaired by Prime Minister Imran Khan Friday reviewed the current economic situation and steps taken to improve the business climate, increase exports, reduce current account deficit and stabilise economy. The meeting was att
Published 31 Aug, 2019 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (August 30, 2019).

Published 31 Aug, 2019 12:00am

Exchange
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (August 30, 2019).

Published 31 Aug, 2019 12:00am

Currency	Rate
USD PKR Interbank Selling / Mar 7	280.17
USD PKR Interbank Buying / Mar 7	279.97
USD to Japanese Yen / Mar 7	148.06
USD to Swiss Franc / Mar 7	0.88
Pound Sterling to USD / Mar 7	1.29
Euro to USD / Mar 7	1.08
UK LIBOR % / Mar 6	4.96

Stock	Volume
S&P 500 / Mar 7	5,746.85
India Sensex / Mar 7	74,332.58
Tokyo Nikkei / Mar 7	36,887.17
Nasdaq / Mar 7	18,211.25
Hang Seng / Mar 7	24,231.30
FTSE 100 / Mar 7	8,679.88
Dow Jones / Mar 7	42,829.44
Germany DAX 30 / Mar 7	23,008.94
France CAC40 / Mar 7	8,120.80

Item	Value
Crude Oil USD/Barrel / Mar 7	67.03
Karachi Cotton PKR/37.32 KG / Mar 7	17,585
Gold 10 Grams PKR / Mar 7	263,203
Gold Spot USD/Ounce / Mar 7	2,916.80
Cotton US¢/pound / Mar 7	66.07
Petrol/Litre / Mar 9	255.63
Diesel/Litre / Mar 9	258.64

Stock	Price
Premier Insurance / Mar 7 Premier Insurance Limited(PINL)	5.49 ▲ 0.61 (12.5%)
Tariq Corp.Pref. / Mar 7 Tariq Corporation Limited-Preference Shares(TCORPCPS)	8.42 ▲ 0.92 (12.27%)
At-Tahur Ltd. / Mar 7 At-Tahur Limited(PREMA)	29.23 ▲ 2.66 (10.01%)
Ahmad Hassan / Mar 7 Ahmad Hassan Textile Mills Limited(AHTM)	59.40 ▲ 5.4 (10%)
Pak Datacom / Mar 7 Pak Datacom Limited(PAKD)	99.54 ▲ 9.05 (10%)
Apna Microfin. / Mar 7 Apna Microfinance Bank Limited(AMBL)	11.25 ▲ 1.02 (9.97%)
PIA Holding Co.B / Mar 7 PIA Holding Company Limited B(PIAHCLB)	827 ▲ 74.61 (9.92%)
Engro Poly(Pref / Mar 7 Engro Poly(Pref)(EPCLPS)	12.21 ▲ 1.1 (9.9%)
Masood Textile / Mar 7 Masood Textile Mills Limited(MSOT)	61 ▲ 5.45 (9.81%)
Pak Paper Prod / Mar 7 Pakistan Paper Products Limited(PPP)	183 ▲ 15.42 (9.2%)

Stock	Price
Int. Knit. / Mar 7 International Knitwear Limited(INKL)	17.89 ▼ -1.99 (-10.01%)
Ellcot Spinning / Mar 7 Ellcot Spinning Mills Limited(ELSM)	106.78 ▼ -11.86 (-10%)
Universal Ins. / Mar 7 The Universal Insurance Company Limited(UVIC)	9.01 ▼ -1 (-9.99%)
Unicap Modaraba / Mar 7 Unicap Modaraba(UCAPM)	3.05 ▼ -0.3 (-8.96%)
Power Cem(Pref) / Mar 7 Power Cement (Pref)(POWERPS)	13.15 ▼ -1.29 (-8.93%)
Pak. P.V.C. / Mar 7 Pakistan PVC Limited(PPVC)	8.28 ▼ -0.72 (-8%)
Agritech Limited / Mar 7 Agritech Limited(AGL)	54 ▼ -4.59 (-7.83%)
Invest Bank / Mar 7 Invest Capital Investment Bank Limited(ICIBL)	1.40 ▼ -0.1 (-6.67%)
Hafiz Ltd. / Mar 7 Hafiz Limited(HAFL)	265.06 ▼ -16.62 (-5.9%)
Reliance Cotton / Mar 7 Reliance Cotton Spinning Mills Limited(RCML)	480.36 ▼ -29.01 (-5.7%)

Stock	Volume
Fauji Cement / Mar 7 Fauji Cement Company Limited(FCCL)	57,186,347 ▲ 3.47
Pak Int.Bulk / Mar 7 Pakistan International Bulk Terminal(PIBTL)	48,305,211 ▼ -0.16
Sui South Gas / Mar 7 Sui Southern Gas Company Limited(SSGC)	23,565,729 ▲ 1.42
WorldCall Telecom / Mar 7 Worldcall Telecom Limited(WTL)	22,575,994 ▼ -0.01
Maple Leaf Cement / Mar 7 Maple Leaf Cement Factory Limited(MLCF)	22,361,248 ▲ 2.07
Oil & Gas Dev. / Mar 7 Oil & Gas Development Company Limited(OGDC)	18,047,822 ▲ 0.84
Pak Petroleum / Mar 7 Pakistan Petroleum Limited(PPL)	16,644,912 ▲ 2.4
At-Tahur Ltd. / Mar 7 At-Tahur Limited(PREMA)	14,546,590 ▲ 2.66
B.O.Punjab / Mar 7 The Bank of Punjab(BOP)	13,546,949 ▲ 0.1
P.S.O. / Mar 7 Pakistan State Oil Company Limited(PSO)	12,439,221 ▲ 24.96

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