Business
Commercial Importers protest against inclusion of raw materials in finished goods schedule
Karachi, June 22, 2020: Amin Yousuf Balgamwala, chairman PCDMA & former director of Karachi Stock Exchange has expressed serious concerns over the inclusion of certain industrial raw materials in the category of finished goods in the budget 2020-21 and demanded re-entry of industrial raw materials in Part 2 by maintaining the previous rate of income…
KSE-100 index declines 3.4pc WoW
Karachi, June 22, 2020: The KSE100-index witnessed 3.4 percent WoW correction, closing at 33,439 levels this week. While the Federal Budget FY21 announced last week brought no joy to market participants, sentiments were further dampened by political noise as BNP-M quit from PTI-led coalition government. Volumes improved during the week, however traded value declined by…
SBP calls meeting of Bank Presidents on Naya Pakistan Housing Program
Karachi, June 17, 2020: Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks today for deliberations on the measures proposed by Naya Pakistan Housing and Development Authority (NAPHDA) and identify way forward to ensure sustainable market-led financing of housing projects and mortgages. The meeting was chaired by the Governor SBP,…
PSX index closed at a decline of 170pts
Karachi, June 17, 2020: Market made a strong come back today by registering an increase of 377 points, however, BNP Mengal’s decision to leave PTI Coalition government caused jitters in the market. The index lost all the gains made during the session and sustained a loss of -243 points, closing the session -170 points. Political…
PYMA opposes 2.5 pc additional RD on Polyester Filament Yarn
Karachi, June 17, 2020: Danish Hanif, Chairman, Pakistan Yarn Merchants Association (PYMA) has expressed frustration over non-provision of relief on imported raw materials of textile industry and SMEs in Budget 2020-21 and opposing the imposition of further regulatory duty @ 2.5 percent, termed the move as disastrous for the textile sector and SMEs. In an…