Business
CPHGC assigned long-term AA rating
Karachi, January 07, 2020: China Power Hub Generation Company (Pvt.) Ltd (CPHGC) has been assigned a long-term AA rating by the Pakistan Credit Rating Agency Limited. The 1320MW, USD 2 billion power project under the China Pakistan Economic Corridor developed in Lasbella, Balochistan has also been given a short-term A1+ rating and a stable outlook….
KE asserts that recent tariff adjustment will not be entirely applicable on consumer bills
Karachi, January 03, 2020: Spokesperson K-Electric reiterates that different figures ranging from PKR 4 upwards being circulated in media circles as increase in consumer bills are misleading. According to the Spokesperson, “Some News Channels and Publications have quoted a figure of more than PKR 4 being increased in the end consumers’ monthly bills which is…
Tax regime for non-residents simplified to encourage
Investment in long-term debt securities Karachi, January 02, 2020: Amendments in the Income Tax Ordinance, 2001 have been issued to simplify the tax regime for non-resident companies investing in debt instruments and Government securities. These amendments aim to deepen our capital markets, support availability of long term rupee financing sources, support competition in the local…
PSX index closed with an increase of 1081pts
Karachi, January 02, 2020: Second trading day of 2020 took the index to an even higher number with an increase of 1144 points and closing the session +1136 points (unadjusted). Reasons that contributed to the performance of index were rumor of downward adjustment in NSS rates by a significant margin and buying activity from Banks…
SECMC achieves financial close of phase II of mining and power projects in Thar
A key milestone towards ensuring energy security of Pakistan; Thar coal tariff to become cheaper than imported coal Karachi, January 01, 2020: The Sindh Engro Coal Mining Company (SECMC) has achieved a historic milestone by completing the financial close of Phase II of Mining and Power Projects in Thar Block II. SECMC is a joint venture…