Tag: UBL

December 01, 2020: Private Power Infrastructure Board (PPIB) has successfully managed to induct 40 independent private power projects (IPPs) of about 17551 MW by attracting an investment of around $ 17 billion so far.

Official sources told APP here that IPPs were around 50 percent of the country's present installed generation capacity.

They said that PPIB attracted leading international/local investors and lenders to the Pakistan Power Sector thus contributed to the development of domestic capital markets.

They said now the organization was also advancing the development of small hydropower projects in the country. The projects were included 700.7 MW Azad Pattan, 1,124 MW Kohala, 102 MW Gulpur, 870 MW Suki Kinari, 720 MW Karot Hydropower Projects. 102 MW Gulpur Hydropower Project had already started operation while 84 MW New Bong Hydropower Project, the first hydro IPP in Pakistan/AJK had been commissioned.

APP

December 01, 2020 (MLN): Pakistani rupee (PKR) depreciated by 39 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 159.82 per USD, against yesterday's closing of PKR 159.42 per USD.

The rupee saw a volatility free session as very little movement was recorded trading in a range of 47 paisa per USD showing an intraday high bid of 159.85 and an intraday Low offer of 159.45.

Within the Open Market, PKR was traded at 159.50/160.30 per USD.

Meanwhile, the currency lost 1.4 rupees to the Pound Sterling as the day's closing quote stood at PKR 214.19 per GBP, while the previous session closed at PKR 212.75 per GBP.

Similarly, PKR's value weakened by 54 paisa against EUR which closed at PKR 191.52 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.70/6.90 percent, whereas the 1 week rate was 6.95/7.00 percent.

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December 01, 2020 (MLN): In order to facilitate Clearing Members (CMs), National Clearing Company Pakistan Limited (NCCPL) has computed the aggregate amount of Capital Gain Tax (CGT) arising on the disposal of shares at Pakistan Stock Exchange for the period July 01, 2020 to October 31, 2020 and trading of future commodity contracts at Pakistan Mercantile Exchange for the period July 01, 2020 to September 30, 2020 (without adjusting brought forward losses of previous years).

According to the notification issued to PSX, the necessary details and reports for the said period have already been made available in the CGT System.

It has been informed that the above-mentioned CGT details for the above-mentioned period are being provided to the CMs / PMEX Brokers to enable them to get CGT obligation as of October 2020.

However, clarification from the Federal Board of Revenue (FBR) with respect to the manner of adjustment of brought forward Capital Losses of previous years is still awaited. Therefore, the date for the collection will be notified in due course.

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December 01, 2020 (MLN): Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 3.18 percent in October 2020 to a provisional value of 97.11 from the revised value of 94.12 in September 2020.

According to data published by the State Bank of Pakistan (SBP), the REER index has increased by 2.43 percent compared to October 2019.

Similarly the Nominal Effective Exchange rate Index (NEER) increased by 1.55 percent in October to a provisional value of 59.07 from the revised value of 58.17 in September. On a yearly basis, the NEER Index has decreased by 6.28 percent.

PKR closed October at 160.2578 against the USD having appreciated by 3.40 percent compared to its value in September 2020. However, Compared to October 2019 PKR has depreciated by by 2.86 percent.

REER is a measure of the value of a currency against a weighted average of several foreign currencies, an increase in REER implies that exports become more expensive and imports become cheaper therefore, this increase indicates a decline in trade competitiveness.

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December 01, 2020 (MLN): Indus Motor Company (IMC) on Tuesday has raised the prices of its vehicles in the range of Rs 60,000-Rs 100,000, reported PakWheels.

The price of Corolla 1.6 MT has increased by Rs. 60,000 at Rs. 3.219 million, while Corolla 1.6 AT will cost Rs. 3.369 million after an increase of Rs. 60,000.

According to the notification, the company increased the price of Corolla 1.6 MT and Corolla 1.8 CVT variant by Rs. 70,000 each to Rs. 3.549 million and Rs. 3.699 million respectively.

Atlis Grande 1.8 CVT (Beige Interior) would cost Rs 3.979 million after a price hike of Rs. 80,000. On the other hand, Atlis Grande 1.8 CVT with Black Interior will cost around Rs. 3.999 million after an increase of Rs 100,000.

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