Tag: government of Pakistan
April 7, 2020 (MLN): The KSE-100 index gained around 652 points in today’s session and closed at 31,231-mark, which is 2.13% higher than the closing of the previous session. Recovery in oil prices on the back of fresh hopes an OPEC-led meeting scheduled for this week boosted investors’ confidence for today.
The Index traded in a range of 727.78 points or 2.38 percent of previous close, showing an intraday high of 31,306.30 and a low of 30,578.52.
Of the 93 traded companies in the KSE100 Index 72 closed up 20 closed down, while 1 remained unchanged. Total volume traded for the index was 142.65 million shares.
Sectors propping up the index were Oil & Gas Exploration Companies with 169 points, Commercial Banks with 118 points, Cement with 118 points, Power Generation & Distribution with 74 points and Fertilizer with 46 points.
The most points added to the index was by PPL which contributed 72 points followed by HUBC with 71 points, OGDC with 70 points, HBL with 66 points and LUCK with 51 points.
Sector wise, the index was let down by Automobile Parts & Accessories with 7 points, Sugar & Allied Industries with 4 points, Real Estate Investment Trust with 1 points and Leasing Companies with 1 points.
The most points taken off the index was by NBP which stripped the index of 9 points followed by BAHL with 9 points, THALL with 7 points, JDWS with 4 points and MUREB with 4 points.
All Share Volume decreased by 60.56 Million to 172.77 Million Shares. Market Cap increased by Rs.113.47 Billion.
Total companies traded were 335 compared to 339 from the previous session. Of the scrips traded 215 closed up, 100 closed down while 20 remained unchanged.
Total trades decreased by 21,918 to 78,978.
Value Traded decreased by 1.96 Billion to Rs.6.75 Billion
|Maple Leaf Cement Factory||20,393,000|
|Fauji Cement Company||9,848,500|
|D.G. Khan Cement Company||5,113,000|
|Oil & Gas Development Company||4,462,233|
|Oil & Gas Marketing Companies||23,158,437|
|Power Generation & Distribution||11,548,688|
|Technology & Communication||8,677,200|
|Oil & Gas Exploration Companies||8,508,704|
|Vanaspati & Allied Industries||6,439,300|
|Cable & Electrical Goods||4,672,150|
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April 7, 2020: The Securities and Exchange Commission of Pakistan (SECP) has successfully completed the phase 1 scope and audit of security standard certification ISO/IEC 27001:2013 for its Information Security Management System (ISMS). The one of widely accepted and globally recognized Certification enables organizations to identify, prevent and defend potential security vulnerabilities.
The ISO/IEC 27001:2013, awarded by the International Organization for Standardization encompasses the requirements for establishing, implementing, maintaining Information technology security techniques. This certification will help organizations to keeps confidential information secure, provides customers and stakeholders with confidence in how you manage risk and allows for the secure exchange of information and provide you with a competitive advantage.
Obtaining this certification demonstrates SECP’s strong commitment to the ongoing development and continuous improvement of its enterprise ISMS, making information security and data protection an integral part of all its business processes.
Aamir Khan, Chairman SECP said, “We are proud to have earned this certification, attesting that our highest level of controls is in place when handling SECP’s and its regulates information. SECP has even established a governance program that includes the Information Security –Governance, Risk Management and Compliance Council (IS- GRCC) whose job is to support the ongoing information and cybersecurity enhancements. With ISO 27001 ISMS Certification, we are effectively meeting the industry benchmark towards complying with information and cybersecurity standards.”
The ISO/IEC 27001:2013 Certification is a showcase of SECP’s overall strategy to ensure that it's key IT, Data Centre, Human Resource Security, Physical and Environmental Protection and Social Media Security services comply with the highest international and regional standards, and that its services are based on globally accepted standards and protocols. To hold this qualification as one of the regulatory body of Pakistan is a significant achievement for SECP.
April 7, 2020: Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree, reducing its expansion budget by $10 billion this year as the coronavirus pandemic saps energy demand amid a dramatic slide in oil prices.
The company, which last month pledged "significant" cuts to spending, said it would reduce 2020 capital expenditure to $23 billion. It had previously expected to spend up to $33 billion.
April 07, 2020 (MLN): Pakistani rupee (PKR) depreciated by 91 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 167.9 per USD, against yesterday's closing of PKR 166.99 per USD. This is the lowest PKR has ever closed against the dollar, however, PKR was traded at 169.50 and quoted at 170.50 last week.
The Rupee saw moderate volatility in today’s session and traded in a range of 90 paisa per USD showing an intraday high bid of 167.90 and an intraday Low offer of 167.25.
Within the Open Market, PKR was traded at 166/167.70 per USD.
Meanwhile, the currency lost 1.5 rupees to the Pound Sterling as the day's closing quote stood at PKR 207.06 per GBP, while the previous session closed at PKR 205.59 per GBP.
Similarly, PKR's value weakened by 2.1 rupees against EUR which closed at PKR 182.36 at the interbank today.
On another note, within the money market, the overnight repo rate towards close of the session was 11.00/11.25 percent, whereas the 1 week rate was 11.00/11.05 percent.
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April 7, 2020 (MLN): A meeting of the Economic Coordination Committee (ECC) of the Cabinet is scheduled to take place tomorrow, i.e, April 8 2020, in which the committee will discuss the matter pertaining to losses incurred by PSO and Oil Industry due to devaluation of Pakistani Rupee.
In addition to this, the Committee will constitute the Price Negotiating Committee for Turkmenistan Afghanistan Pakistan-India (TAPI) Gas Pipeline Project.
At the meeting, ECC will also discuss the deferment of Quarterly, Monthly fuel adjustments and Economic Stimulus measures.
Apart from this, the following important agenda points will be discussed in tomorrow’s meeting.
1122 MW Kohala Hydropower Project’s Foreign exchange loss/gain of over 7% on delayed payments.
Revision of Relending Policy 2016 of Foreign Loans/Credit.
Recovery of Foreign Currency Loans from the private sector borrowers; Galadari Cement Private Limited.
Release of advance funds for the construction of Frontier Constabulary Training Centre, KPK.
Approval of Technical Supplementary Grant (TSG) amounting to Rs 5 million within sanctioned budget for the purchase of Spares Parts for Helicopter maintenance by HQs Pakistan Rangers during CFY2019-20
Technical Supplementary Grant of Rs 90.450 million to Pakistan Nuclear Regulatory Authority.
Payment of Subsidy charges to the Executive Agencies of the Prime Minister’s Youth Business Loan Scheme through Technical Supplementary Grant.
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