Ban on imports of luxury items to not impact AIRLINK’s business

MG News | May 20, 2022 at 09:49 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

May 20, 2022 (MLN): Air Link Communication Limited has said that the ban on imports of unnecessary luxury items imposed by the government will not impact the company’s business.

To recall, in the late evening yesterday, the Ministry of Commerce announced to impose a temporary ban on certain luxury items including CBU mobile phones to curtail the current account deficit.

The company mentioned that the ban is imposed on CBU mobile phones only instead of CKDs or SKDs. Whereas, Airlink’s majority sale revenue is generated through the sale of locally assembled mobile phones i.e., Samsung, Tecno, Xiaomi, Itel, Realme etc.

“We don’t see any impact on our business as a result of these import restrictions,” the company in a notice to Exchange said.

At the time of reporting this, the stock of the company was trading at a price of Rs44.27, up by Rs3.08 or 7.48% DoD.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,166.52 410.56M	0.33% 574.76
ALLSHR	107,641.65 676.88M	0.48% 519.21
KSE30	52,670.80 88.28M	0.39% 203.40
KMI30	251,460.53 103.06M	0.76% 1891.30
KMIALLSHR	69,413.38 509.62M	0.79% 544.65
BKTi	49,984.79 26.85M	-0.30% -151.57
OGTi	36,423.05 16.04M	1.47% 527.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	78,320.00	78,915.00 77,735.00	1140.00 1.48%
BRENT CRUDE	93.60	94.83 92.74	-0.18 -0.19%
RICHARDS BAY COAL MONTHLY	110.30	110.50 110.30	0.05 0.05%
ROTTERDAM COAL MONTHLY	125.25	125.25 125.25	1.50 1.21%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	86.64	87.51 85.80	-0.19 -0.22%
SUGAR #11 WORLD	17.60	17.89 17.16	0.08 0.46%