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SECP achieves ISO ISO/IEC 27001:2013 Certification

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.

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Last but not least: Exxon chops spending by 30%

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.


PKR weakens by 91 paisa against greenback

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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ECC to discuss losses incurred by PSO and Oil...

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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Masood Textile begins partial operations

April 07, 2020 (MLN): Masood Textile Mills Limited has partially resumed its production activities as the Provincial Government has allowed the textile companies to resume their operations.

Furthermore, the company will inform the Exchange as soon as its production activities are fully resumed.

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