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X-WAPDA DISCOs seek Rs 162 bln adjustments for 2nd,...

June 02, 2020: X-WAPDA Power Distribution Companies (DISCOs) have sought Rs162 billion adjustments on account of variation in Power Purchase Price (PPP) for 2nd and 3rd quarters of the current fiscal year.

In petitions submitted to National Electric Power Regulatory Authority (NEPRA), the DISCOs sought over Rs 73 billion under quarterly adjustment mechanism for 2nd quarter October to December 2019 and Rs 89 billion for 3rd quarter January to March 2020.

The power regulator will hold public hearing into the petitions on Wednesday and if approved Rs 162 billion would be collected from the consumers.

According to the petitions, Islamabad Electric Supply Company (IESCO) sought over Rs 16 billion, Lahore Electric Supply Company (LESCO) Rs 28 billion, Gujranwala Electric Supply Company (GEPCO) Rs 13 billion, Faisalabad Electric Supply Company (FESCO) and Multan Electric Supply Company (MEPCO) Rs 23 billion each, Peshawar Electric Supply Company (PESCO) Rs 29 billion, Hyderabad Electric Supply Company (HESCO)

Rs 10 billion, Quetta Electric Supply Company (QESCO) Rs 14 billion, Sukkur Electric Supply Company (SEPCO) Rs 4 billion and Tribal Electric Supply Company Rs 889 million adjustments for both the said quarters.

In case, NEPRA approved, the power tariff would increase over Rs 1.5 per unit, sources told here.

 

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Govt releases Rs 69,567.359 mln for water projects so...

Jun 02, 2020: The government has released a sum of Rs 69,567.359 million for various water resource projects under annual Public Sector Development Programme (PSDP) for fiscal year 2019-20 so far.

According to the data of Planning Commission, an amount of Rs118,627.359 million was allocated for various water resource sectors in the current fiscal year.

A sum of Rs16,000 million has been released for Diamer Basha Dam (Dam part), Rs 10400 million for Diamer Basha dam (Land Acquisition & Resettlement), Rs 1320.960 million for Kachhi Canal Project Dera Bughti, Rs1,321.780 million Lower Indus Right Bank Irrigation & Drainage Project (RBOD-1) and Rs 2,700 million for construction of 100 dams in Balochistan. Similarly, an amount of Rs8,510 million has been released for Mohmand Dam (Dam Part), Rs1500 million for Balochistan Effluent Disposal into (RBOD-I, RBOD-III), Jafarabad, Rs 1,775 million for construction of Basool Dam (Ormara), Rs201.20 million for construction of Khazeena Dam Zamri, Rs 1,100 million for construction of small dams in Sindh, Rs 700 million for construction of small dams in Mansehra district, Rs1,748.184 million for Garuk Storage Dam Kharan, Rs426.330 million for Remedial Measures to Control waterlogging (Muzaffargarh), Rs1,500 million for Balochistan Effluent Disposal into RBOD.I (RBOD-III), Jafarabad, Nasirabad, Rs 700 million for small dams in KPK and Rs 900 million for raising of Baran Dam Bannu.

A total of Rs 2,523 million has been released for Makhi Farah Link Canal Project, Rs 600 million for Remodeling of Warsak Canal, Rs 2,711.754 for Lining of Distributaries and Minors in Sindh, Rs 2,300 million for Winder Dam, Rs 300 million for construction of small dams in Khuzdar, Rs 800 million for increasing storage capacity and improvement in command area of Tanda dam and Rs 3,000 million for Kurram Tangi dam Project.

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PMEX Commodity Index closes 84 points higher

June 2, 2020: On Monday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,216-level, adding 84 points.  The traded value of Metals, Energy and COTS/FX was recorded at 5.650 billion and the number of lots traded was 8,982.

The major business was contributed by Gold amounting to PKR 2.018 billion, followed by Currencies through COTS (PKR 1.527 billion), Silver (PKR 899.365 million), NSDQ 100 (PKR 358.638 million), Platinum (PKR 254.172 million), Crude Oil (PKR 229.333 million), Natural Gas (PKR 145.357 million), SP500 (PKR 92.221 million), DJ (PKR 83.025 million), Japan Equity (PKR 601.546 million) and Copper (PKR 8.312 million).

In agriculture commodities, 20 lots of Cotton amounting to PKR 9.683 million one lot of Soybean amounting to PKR 6.924 million, one lot of Wheat amounting to PKR 4.249 million and one lot of Corn amounting to PKR 2.686 million were traded.

Press Release

 

Closing Bell: Back in the high life again

June 2, 2020 (MLN): Following the upbeat momentum of yesterday’s trade, the KSE-100 Index climbed up by 386 points or an increase of 1.13 percent to close at 34,408-level on Tuesday, in line with global market’s optimism for economic recovery.

The reduction in profit rates of the National Saving Scheme along with inflation readings, NCPI, which came largely in line with market expectations injected vitality into the capital markets.

According to the closing note by Aba Ali Habib Securities, the investors remained active in anticipation of business-friendly budget due on 12 June 2020. Moreover, the smart lockdown policy by the government while opening up all business contributed to the improvement in investors’ sentiments.

The Index remained positive throughout the session touching an intraday high of 34,525.40

Of the 94 traded companies in the KSE100 Index, 59 closed up 29 closed down, while 6 remained unchanged. Total volume traded for the index was 159.97 million shares.

Sectors propping up the index were Commercial Banks with 328 points, Oil & Gas Exploration Companies with 37 points, Automobile Parts & Accessories with 13 points, Technology & Communication with 13 points and Automobile Assembler with 11 points.

The most points added to the index were by MCB which contributed 88 points followed by UBL with 81 points, HBL with 62 points, BAFL with 34 points and POL with 29 points.

Sector-wise, the index was let down by Fertilizer with 22 points, Pharmaceuticals with 18 points, Inv. Banks / Inv. Cos. / Securities Cos. with 13 points, Oil & Gas Marketing Companies with 3 points and Power Generation & Distribution with 3 points.

The most points taken off the index was by FFC which stripped the index of 17 points followed by DAWH with 14 points, SEARL with 11 points, HMB with 11 points and OGDC with 7 points.

All Share Volume increased by 23.60 Million to 221.69 Million Shares. Market Cap increased by Rs.53.61 Billion.

Total companies traded were 358 compared to 354 from the previous session. Of the scrips traded 172 closed up, 161 closed down while 25 remained unchanged.

Total trades increased by 5,780 to 91,427.

Value Traded increased by 1.36 Billion to Rs.8.62 Billion

CompanyVolume

Top Ten by Volume

Pak Elektron14,217,000
TRG Pakistan12,572,500
Hascol Petroleum12,348,500
The Bank of Punjab11,797,500
Unity Foods10,902,000
National Bank of Pakistan10,234,500
Maple Leaf Cement Factory8,140,000
Fauji Foods7,040,000
Siddiqsons Tin Plate5,876,000
Bank Alfalah5,811,653

 

SectorVolume

Top Sector by Volume

Commercial Banks50,046,430
Technology & Communication24,331,400
Cement17,309,154
Cable & Electrical Goods14,946,250
Oil & Gas Marketing Companies14,853,886
Food & Personal Care Products12,879,150
Vanaspati & Allied Industries10,903,300
Power Generation & Distribution9,304,996
Textile Composite8,371,000
Oil & Gas Exploration Companies8,098,390

 

 

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PKR trades 81 paisa lower against USD

June 02, 2020 (MLN): Pakistani rupee (PKR) depreciated by 81 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 164.9 per USD, against yesterday's closing of PKR 164.08 per USD.

2.05 rupees per USD showing an intraday high bid of 166.00 and an intraday Low offer of 164.20.

Within the Open Market, PKR was traded at 164/165.5 per USD.

Meanwhile, the currency lost 3.3 rupees to the Pound Sterling as the day's closing quote stood at PKR 206.91 per GBP, while the previous session closed at PKR 203.66 per GBP.

Similarly, PKR's value weakened by 1.3 rupees against EUR which closed at PKR 184.1 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 8.15/8.30 percent, whereas the 1 week rate was 8.00/8.05 percent.

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