Business
Pakistan fall in oil prices likely to provide liquidity space to Gas Utilities
WACC based return formula likely to increase by 2pc Karachi, May 06, 2020: The Pakistan Gas sector has been facing severe liquidity constraints on account of both natural gas and RLNG. During 9MFY20, SNGP recorded natural gas differential of Rs48.5bn. The annualized indigenous gas differential amount of Rs65bn (9M: Rs48.5bn), translates into Rs/mmbtu of ~Rs177…
Pak reports fiscal deficit at 3.8pc of GDP in 9MFY20
Karachi, May 06, 2020: The government has reported a fiscal deficit of 3.8% of GDP (or Rs1.7trn) in 9MFY20 compared to a fiscal deficit of 5.0% of GDP (Rs1.9trn) in 9MFY19. Importantly, the primary balance during the period clocked in at 0.4% of GDP or Rs194bn (last year was -1.2% of GDP or -Rs463bn), close…
Cement Despatches Declined by 23.65pc in April
Karachi, May 06, 2020: Cement despatches in the country have declined in April 2020 by 23.65 percent to 3.52 million tons from 4.61 million tons in April 2019 as both exports and domestic markets crashed, owing to the devastating impact of COVID-19. According to a statement issued by All Pakistan Cement Manufacturers’ Association (APCMA), the…
Shahzad Dada moves to UBL from Standard Chartered Bank
Karachi, May 06, 2020: Shahzad Dada has stepped down as the President and CEO and Director of Standard Chartered. He will remain to serve his bank for one more month on the notice period. His resignation has been accepted by the board of directors, according to the official announcement. Shahzad Dada took the decision to…
President approves amendments to companies act to facilitate startups
Karachi, May 04, 2020: President Dr Arif Alvi has approved amendments in Companies Act 2017 to provide an enabling regulatory framework to facilitate startups in Pakistan. These amendments were proposed by the Securities and Exchange Commission of Pakistan (SECP) to help promoting and nurturing startups as well as attract local and international innovators. The Companies…