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Private sector borrowing decreases by Rs.70.47 billion in a...

December 13, 2019 (MLN): The non-government sector has retired a net sum of Rs.70.47 million during the week ended December 06, 2019, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.68.24 billion. The net borrowing as of prior week was recorded at Rs.68.31 billion.

According to weekly data released by the State Bank of Pakistan, the sector's borrowing has dropped by Rs.405.29 billion over the year since the borrowing as of corresponding period of last year was recorded at Rs.473.53 billion.

The non government sector is divided into three broad categories namely, the Private Sector, the Public Sector Enterprises and NBFI. Commercial banks are the main source of financing for the private sector, incuding conventional banks, islamic banks and islamic branches of conventional banks.

This fiscal year, the private sector borrowed a net sum of Rs.78.75 billion, whereas the PSE's have retired Rs.11.22 billion and NBFI has borrowed Rs.700.6 million.

As we disintegrate the inflows and outflows within the private sector, we see that Conventional Banks lent a cumulative sum of Rs.31.55 billion, Islamic Banks lent Rs.14.67 billion and lastly the Islamic branches of Conventional Banks lent Rs.32.54 billion.

 

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Govt. borrowing expands by Rs.155 billion in a...

December 13, 2019 (MLN): The government of Pakistan has acquired an additional debt of Rs.155.18 billion during the week ended December 06, 2019, which brings its total net borrowing for ongoing fiscal year 2020 to Rs.488.11 billion. As of prior week, the government had borrowed a net sum of Rs.332.94 billion.

According to the State Bank of Pakistan's weekly estimates in this regard, this year's overall net borrowing as of this week has increased by Rs.82.74 billion over the year as last year's net borrowing for the same period stood at Rs.405.38 billion.

The government sector borrowings are divided into three broad categories based on the purpose of loan which are budgetary support, commodity operations and others.

Split three ways between these broad categories, the cumulative net borrowing for budgetary support was Rs.550.1 billion, while that for other purposes stood at Rs.1.34 billion. On the contrary, a net total of Rs.63.32 billion were retired off Commodity Operations.

The two biggest source of financing for budgetary support are the State Bank of Pakistan and the Scheduled Banks. This fiscal year, the central bank has lent out a net sum of Rs.7.77 billion to the government, out of which the Federal Government borrowed Rs.203.14 billion whereas, the Provincial Government retired Rs.182.36 billion, AJK Government retired Rs.10.86 billion, and the GB Government retired Rs.2.16 billion.

Meanwhile, the Scheduled Banks have lent out a net total of Rs.542.32 billion out of which the Federal Government borrowed Rs.546.98 billion while the Provincial Government retired Rs.4.65 billion.

 

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Pakistan, Germany ink financing agreement for Hydropower, Renewable Energy...

December 13, 2019: Pakistan and Germany have inked financing agreement for Hydropower and Renewable Energy Phase-II worth 2,145.29 million rupees.

A ceremony to this effect was held in Islamabad on Friday in which Secretary, Economic Affairs Division Dr. Syed Pervaiz Abbas and Country Director, German Development Bank Wolfgang Moellers signed the document on behalf of their sides. Minister for Economic Affairs Hammad Azhar was also present on the occasion. 

Addressing the ceremony, Hammad Azhar thanked the German government for the grant assistance which will be helpful in addressing the increasing energy needs of the region while employing environment friendly solutions. 

Country Director, KfW Wolfgang Moellers said that soon the population of Gilgit-Baltistan will have access to the green and sustainable energy, which will contribute towards socio-economic uplift of the masses. This will also help to create more jobs and promote tourism in the area.

Under the agreement, German Development Bank will provide grant assistance worth 12.5 million Euros to the Government of Gilgit-Baltistan and Agha Khan Rural Support programme. The project has one component of hydropower that will be implemented by the Water & Power Department of GB Government while the second component of biodiversity will be executed by the Agha Khan Rural Support Program.

The implementation of HRE-II in Gilgit-Baltistan will contribute to the provision of electricity for the population of Hunza and Nagar through utilization of its abundant water resources.

Radio Pakistan

Closing Bell: Enough triggers to lift market sentiments

December 13, 2019 (MLN): The equity market on Friday ended the trading session on a cheerful note as it gained 402 points and closed at 40,916 points level, only 84 points short of touching 41,000 mark.  

Throughout the day, bullish momentum continued on account of back to back news on the economic front which invigorated investors’ confidence. These include; an increase in the country’s foreign reserves by 120.7 million to eight months high at $9.23 billion.

In addition, Pakistan has offered Russia to become the strategic partner by acquiring shares of the country’s largest two state-owned oil and gas companies; OGDCL and PPL.

Further,  Pakistan Investment Bond (PIB) yields fell once again in Wednesday’s auction, all these events gave investors’ sentiment a boost, which was reflected in today’s session 

The Index remained positive throughout the session touching an intraday high of 41,077.83.

Of the 91 traded companies in the KSE100 Index, 63 closed up 25 closed down, while 3 remained unchanged. Total volume traded for the index was 180.34 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 168 points, Commercial Banks with 77 points, Oil & Gas Marketing Companies with 55 points, Textile Composite with 28 points and Inv. Banks / Inv. Cos. / Securities Cos. with 14 points.

The most points added to the index was by PPL which contributed 92 points followed by OGDC with 77 points, HBL with 34 points, PSO with 26 points and SNGP with 20 points.

Sector wise, the index was let down by Fertilizer with 11 points, Automobile Parts & Accessories with 5 points and Leasing Companies with 1 point.

The most points taken off the index was by FFC which stripped the index of 9 points followed by THALL with 8 points, ENGRO with 8 points, MLCF with 6 points and MARI with 5 points.

All Share Volume increased by 43.69 Million to 270.71 Million Shares. Market Cap increased by Rs.75.04 Billion.

Total companies traded were 363 compared to 366 from the previous session. Of the scrips traded 227 closed up, 116 closed down while 20 remained unchanged.

Total trades increased by 11,619 to 94,367.

Value Traded increased by 3.26 Billion to Rs.11.67 Billion

CompanyVolume

Top Ten by Volume

Unity Foods28,273,000
The Bank of Punjab14,831,000
Fauji Foods13,577,000
Avanceon12,938,000
Oil & Gas Development Company10,854,100
Soneri Bank9,538,500
Pak Elektron9,497,500
Pakistan Petroleum8,893,700
Fauji Cement Company7,963,500
Maple Leaf Cement Factory7,331,000

 

SectorVolume

Top Sector by Volume

Commercial Banks37,926,700
Vanaspati & Allied Industries28,295,000
Technology & Communication27,309,500
Cement24,284,100
Food & Personal Care Products21,332,420
Oil & Gas Exploration Companies20,250,000
Oil & Gas Marketing Companies18,900,600
Chemical15,510,770
Power Generation & Distribution12,306,000
Cable & Electrical Goods9,663,450

 

 

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PKR strengthens by 11 paisa in a week

December 13, 2019 (MLN): Pakistani rupee (PKR) closed today's trading session relatively unchanged against the USD with the rate remaing stable at PKR 154.96.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 12 paisa per USD showing an intraday high bid of 155.07 and an intraday Low offer of 154.97.

During the week, the currency has gained 11 paisa against the greenback, as the previous week was concluded at PKR 155.07 per USD.

Within the Open Market, PKR was traded at 154.30/155 per USD.

Alternatively, the currency lost 3.2 rupees to the Pound Sterling as the day's closing quote stood at PKR 207.89 per GBP, while the previous session closed at PKR 204.73 per GBP.

Similarly, PKR's value weakened by 71 paisa against EUR which closed at PKR 173.23 at the interbank today.

On another note, within the money market, the State Bank of Pakistan (SBP) conducted an Open Market Operation in which it injected Rs.825 billion for 7 days at 13.29 percent.

The overnight repo rate towards close of the session was 13.00/13.20 percent, whereas the 1 week rate was 13.20/13.25 percent.

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