Morning Buzz for Feb 01, 2012 – MR Securities

Karachi: POL Prices raised significantly; Diesel crosses Rs. 100 mark

The prices of petroleum products on Tuesday were increased in the range of Rs 2.78 to 6.29 per litre.

According to MR Securities , a notification issued here, the government while ignoring the recommendations of the Oil and Gas Regulatory Authority has increased HOBC price by Rs 6.29 per litre, Premium by Rs 5.37 per litre, High Speed Diesel by Rs 4.64 per litre, Light Speed Diesel by Rs 3.43 per litre and kerosene oil by Rs 2.78 per litre.

Margin Trading: individuals allowed to participate as financier and lender
Individuals have been allowed to participate as financer and lender in Margin Trading System from February 6, 2012, while cash margin has been reduced to 15 percent from the current 25 percent.

NPCC: Privatisation Commission shortlists bidders
The board of the Privatisation Commission declared five interested parties eligible for participating in the bidding for strategic sale of 88 per cent government shares in the National Power Construction Company

ECC allows export of 100,000 tons of sugar
The Economic Coordination Committee (ECC) of Cabinet after a detailed review of sugar situation in the country on Tuesday allowed export of 100,000 tons of sugar.

Govt borrowing for budgetary expenditures
The unabated government borrowing from financial system to meet the budgetary expenditures has increased by 136 percent to Rs813.79 billion up to January 20 against Rs344.58 billion a year ago.

Food group export increases by 17.58pc in six months
The food group exports from the country during the first half of current financial year increased by 17.58 percent as compared the exports of same period last year. During the period from July-December 2011, the country earned US$ 1.88 billion by exporting the food commodities including rice, fruits, vegetables, fish, meat and other edible items

LPG’s Aramco price hits record high of $1,031 per ton
The international price of LPG has jumped by $139 to a record high of $1,031 per ton for February, raising its import price by Rs15,000 to Rs108,930 per ton.

PC Board reviews timetable for capital market transaction
The Board of Privatization Commission, which met with Federal Minister for Privatization Ghous Bux Khan Mahar in the chair on Tuesday, discussed the timetable for the capital market transaction, the secondary public offering (SPO) of Pakistan Petroleum Limited (PPL) and decided to accelerate the process.

Domestic debt, liabilities surge
The government domestic debt and liabilities have surged by 28.42% to Rs7.05 trillion by December 2011 as against Rs5.49 trillion on end of same month last year.

Listed firms asked to set up investor relations dept
Lahore Stock Exchange MD Aftab Ahmad Chaudhry said that listed companies should establish investor relations department to meet the information needs of investors.

SECP approves regulations governing market-making for PMEX
In line with the best international practices, and to promote liquidity and efficiency in the commodity futures market, the Securities and Exchange Commission of Pakistan (SECP) has approved regulations governing market-making for the Pakistan Mercantile Exchange Limited (PMEX).

EU market access to make headway soon
The European Union aims to bolster Pakistan’s faltering economy by fulfilling a 16-monthold pledge to slash tariffs on dozens of textile products this spring.

Urea off-take at lowest ebb
Urea off-take registered sharp decline during the first three months of the current Rabi season, casting a serious doubt on the prospects of harvesting a good production of wheat and other key crops

IP project gas price to be $11 per mmbtu
The government is committed to completing Iran-Pakistan Gas Pipeline project and work on the project is under way.

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