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OGRA decreases RLNG price by $1.80 per mmbtu

April 06, 2020: The Oil and Gas Regulatory Authority (OGRA) on Monday notified revised prices of Regasified Liquefied Natural Gas (RLNG) for the SSGC and SNGPL for the current month.

According to a notification, there is $ 1.80 per mmbtu (Million British Thermal Unit) decrease in the sale price of imported RLNG on the system of Sui Southern Gas Company (SSGC) for the month of April as compared to March.

The new price of the RLNG for SSGC system has been fixed at $9.5834 per mmbtu, which was $11.3681 during the last month.

Similarly, there is $ 1.78 per mmbtu decline  in the sale price of imported RLNG on the system of Sui Northern Gas Pipelines Company Limited (SNGPL) for the current month as compared to the corresponding month.

The new price of the RLNG for SNGPL system has been fixed at $9.5834 per mmbtu, which was 11.3670 per in March.



SBP provides more flexibility to hospitals and medical centres...

April 06, 2020: Since the outbreak of COVID-19, State Bank of Pakistan has taken a number of measures to support the economy.

One of the earliest measures taken by SBP was to support the hospitals, which have been at the fore front in combating the disease, by providing them a facility to meet their financial needs namely the SBP Refinance Facility to Combat COVID-19 (RFCC) on March 17, 2020. Since then SBP received several suggestions by stakeholders to further improve it. 

Keeping in view such suggestions, SBP has provided more flexibility under RFCC to facilitate the health sector further. Hospitals and medical centres engaged in fight against COVID-19 will now be allowed to avail financing against their existing equipment and purchase of refurbished equipment as well, provided the same are used in creation of special facility/isolation ward to deal with COVID-19.

Moreover, maximum coverage of 60% of civil works for setting up separate /isolation facility, has also been enhanced to 100%. Banks have been directed to ensure that financing extended under this facility is utilized for the intended purpose. It is believed that above changes would help hospitals/medical centres avail SBP’s refinance facility with much ease.


Press Release

PM makes key changes to the Federal Cabinet

April 6, 2020 (MLN): Prime Minister Imran Khan has made key changes to the Federal Cabinet, which include several replacements as well as handing out of prominent positions to new candidates.

According to the new changes, Syed Fakhar Imam has been made the Federal Minister for Minister of National Food Security, while Makhdoon Khusru Bakhtiyar has been made the Federal Minister for Economic Affairs.

Hammad Azhar has been appointed as Federal Minister for Industries, Azam Sawati made Federal Minister for Narcotics Control and Babar Awan made Advisor for Parliamentary Affairs.

Furthermore, Amin ul Haque has been appointed as Federal Minister for Telecom, whereas Omar Hameed has been transferred and appointed as Secretary Ministry of National Food Security.

On the contrary, Mohammad Shahzad Arbab has been removed as Advisor to PM, and the resignation of Khalid Maqbool Siddique as Federal Minister has been accepted.

The new Cabinet also saw the removal of Hashim Popalzai as Secretary Ministry of National Food Security & Research.

Copyright Mettis Link News

PMEX Commodity Index settles at 3,718 points

April 06, 2020: On Friday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,718. The traded value of Metals, Energy and COTS/FX was recorded at PKR 6.385 billion and the number of lots traded was 20,536.

The major business was contributed by Crude Oil amounting to PKR 2.168 billion, followed by Gold (PKR 1.759 billion), Currencies through COTS (PKR 560.664 million), NSDQ 100 (PKR 460.958 million), Silver (PKR 407.808 million), DJ (PKR 388.460 million), Brent Crude Oil (PKR 356.213 million), Japan Equity (PKR 86.144 million), Natural Gas (PKR 77.582 million), SP500 (PKR 61.873 million), Platinum (PKR 33.049 million) and Copper (PKR 24.950 million).

In agriculture commodities, 2 lots of Soybean amounting to PKR 14.317 million, 3 lots of Wheat amounting to PKR 13.743 million and 2 lots of Cotton amounting to PKR 0.841 million were traded.

Press Release

Topline Securities submits PAO to acquire 16.53% share capital...

April 6, 2020 (MLN): The Topline Securities Limited has submitted a Public Announcement of Offer to acquire up to 82,640 ordinary shares i.e. 16.53% share capital of the Hallmark Company Limited, on behalf of the acquirer, Mr. Azneem Bilwani.

Earlier, Topline Securities being the Manager to Offer by the Acquirer, issued Pubic Announcement of Intention for the aforesaid acquisition.

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