Morning Buzz for May 08, 2014 – MR Securities

Karachi, May 08, 2014 (PPI-OT): JS Global continues to lead in Fixed Income, FX market

JS Global Capital Ltd (JS Global) continued its impressive showing in Pakistan’s Fixed Income and Foreign Exchange (FX) market in the 2013 Financial Market Association of Pakistan (FMA) survey. The FMA survey is considered the gold standard of gauging performance in Pakistan’s Money and FX markets.

Dar briefs IMF about performance

Finance Minister Senator Ishaq Dar on Wednesday briefed International Monetary Fund (IMF) about overall economic performance of the country. The Minister was chairing a meeting with IMF delegates in Dubai, which was attended, among others, by senior officials of Ministry of Finance, State Bank of Pakistan.

Government all set to tap Sukuk market: Dar

Finance Minister Mohammad Ishaq Dar said on Wednesday after the success of Eurobond wherein in Pakistan was able to obtain $2 billion from capital market, the government intended to tap the Sukuk market for Islamic financing to increasing its foreign exchange reserves.

Next two generations mortgaged by government: Pasha

The present government has pushed the country in a huge debt trap by signing loan agreements of $52 billion over the next five to ten years, said former Finance Minister Dr Hafeez Pasha on Wednesday.

Think tank: Suggestion of Rs4t federal budget

What appeared to be a realistic assessment of the economic situation, a credible independent think tank has suggested a federal budget of Rs4 trillion for the next financial year and proposed Rs200 billion in tax measures while urging to capture incomes of stock market and power producers.

FBR to face Rs225bn revenue shortfall

The Federal Board of Revenue (FBR) will be facing another historic revenue shortfall of more than Rs225 billion against the initially envisaged target of Rs2,475 billion in the current fiscal year, The News learnt on Wednesday.

Time to move on: About time MR Securities sells stake in Byco, says Abraaj partner

Private equity firm Abraaj Capital wants to sell its stake in Byco International Incorporated (BII), which has built the integrated petroleum company including 155,000 barrels per day refining capacity in Pakistan, officials said.

UBL launches Al-Ameen Islamic Principal Preservation Fund III

After the successful launch of two preceding Islamic Principal Preservation Funds, UBL Funds Managers now presents Al-Ameen Islamic Principal Preservation Fund III (AIPPF-III) for Shariah conscious investors who are looking for 100 percent Halal investment avenues, exposure to equities and the safety of principal preservation.

Power loadshedding: MoF asked to release Rs 20 billion

The Finance Ministry has been directed by Prime Minister Nawaz Sharif to immediately release Rs 20 billion for the purchase of fuel to ease loadshedding.

LPG price witnesses record Rs 20 per kg reduction in one week

The price of Liquefied Petroleum Gas (LPG) has witnessed a record reduction of Rs 20 per kg in one week, which has gone down from Rs 110 per kg to Rs 90 per kg–record low since 2011. According to market sources, following an increase in local LPG production and the government’s consistent efforts to reduce LPG Producer Prices, retail price has fallen to as low as Rs 90 per kg in all the major cities of the country, making LPG cheaper than, Petrol, Diesel, Kerosene and Furnace Oil.

Generation mix, cost structure, T and D losses: power tariff remains higher than India, BD and Sri Lanka, National Assembly told

The tariff of electricity in Pakistan remains relatively higher than India, Sri Lanka and Bangladesh due to numerous factors. This was disclosed by Minister for Water and Power on Wednesday in the National Assembly in a written response to a question asked by a Pakistan Tehreek-e-Insaf (PTI) member Nafeesa Inayatullah Khattak.

IPPs blamed for causing Rs 60 billion loss to exchequer

Institute for Policy Reforms – a newly formed think tank – said on Wednesday that Independent Power Producers (IPPs) are causing a Rs 60 billion financial loss to the national exchequer. Former Minister for Commerce,

Textile industry makes impassioned plea for bailout

At a joint press conference attended by major textile associations of the country on Wednesday, a collective plea was made to the government to bail the industry out its current state of turmoil.

Thar coal contractor to be shortlisted this month

The contractors for Pakistan’s first integrated Thar coal mining and power project will be shortlisted by this month end, said Shamsuddin A Shaikh, the chief executive officer (CEO) of Sindh Engro Coal Mining Company (SECMC).

Curtailing price manipulation: Govt studying new law to empower OGRA

The government is working on a new law that will empower the oil and gas industry regulator to slap fines and penalties on the oil barons that form a cartel to charge high prices from consumers and pocket billions of rupees.

The post Morning Buzz for May 08, 2014 – MR Securities appeared first on Business News Pakistan.

The post Morning Buzz for May 08, 2014 – MR Securities appeared first on AsiaNet-Pakistan.

Leave a Reply