Business
PM launches Rs 42.65 bln interest-free loan scheme
Islamabad, July 8, 2019: Prime Minister Imran Khan Friday launched the National Poverty Graduation Initiative here to steer the poorest household out of poverty by providing them interest-free loans, assets transfers and vocational and skills training. I was delighted to launch the National Poverty Graduation Initiative, one of the several initiatives we will launch under…
Deposit growth lifts on funds from Asset Declaration Scheme
Karachi, July 8, 2019: Total Deposits in Jun-2019 clocked in 11 percent / 7 percent YoY/MoM higher at Rs14.46 trillion, boosted by (1) seasonal year-end targets, (2) funds from Asset Declaration Scheme and (3) prize bond registration. M2 growth clocked in at 12 percent YoY, where NDA registered 20 percent YoY growth. Advances recorded a…
Equities remain flat
Karachi, July 6, 2019: This week trading commenced on a positive note as investors rejoiced the 3-day extension in Tax Amnesty Scheme as well as finance bill approval in the parliament. Furthermore, the first tranche of the USD 500 million received from Qatar along with loans arranged from syndicated Banks and World Bank aided foreign currency reserves….
NIT declares dividend for the year end June 2019.
Karachi, July 05, 2019: National Investment Trust Limited (NITL), the first and the largest Asset Management Company of Pakistan, has declared results of all Funds under its management for the year ended on 30th June 2019. This was stated by Managing Director– NIT, Adnan Afridi in a press release issued on July 05, 2019 after its Board…
Stock closes lower by 45 points
Karachi, July 5, 2019: Pakistan Stock Exchange on a negative note with -45pts and continued the downtrend, which ended -323pts and merely ~20 million shares by the end of the first session. The second session contributed an additional 30 million shares to end the total volume traded with 51 million shares. Fertilizer, O&GMCs, Cement, Banks and…