The government is all set to issue pound sterling and euro denominated shariah-compliant Naya Pakistan certificates for non-resident Pakistanis this week, sources said on Tuesday.
Maple Leaf Cement Factory Ltd, a Pakistani maker of the construction material, is considering boosting capacity by almost a third to tap demand as the economy recovers, people with knowledge of the matter told Bloomberg.
The Pakistan Water and Power Development Authority (Wapda) has planned to rehabilitate 69-year-old Rasul Hydel Power Station located at a link between Upper Jhelum and Lower Jhelum Canals near Khokhra Head Works in Mandi Bahauddin district of Punjab.
KASB Market View
The Pakistan Stock Exchange continued with the selling pressure on Tuesday as well as investors took a cautious stance ahead of Financial Action Task Force (FATF) decision on whether to remove Pakistan from the grey list and they resorted to profit-taking. The announcement of FATF’s decision would dictate the direction of market, in our view.
National News
Shariah-compliant euro, pound bonds expected this week
The government is all set to issue pound sterling and euro denominated shariah-compliant Naya Pakistan certificates for non-resident Pakistanis this week, sources said on Tuesday.
https://www.thenews.com.pk/print/794583-shariah-compliant-euro-pound-bonds-expected-this-week
Maple Leaf Cement mulls expansion after tax perk for housing sector
Maple Leaf Cement Factory Ltd, a Pakistani maker of the construction material, is considering boosting capacity by almost a third to tap demand as the economy recovers, people with knowledge of the matter told Bloomberg.
Wapda to rehabilitate Rasul Hydel Power Station
The Pakistan Water and Power Development Authority (Wapda) has planned to rehabilitate 69-year-old Rasul Hydel Power Station located at a link between Upper Jhelum and Lower Jhelum Canals near Khokhra Head Works in Mandi Bahauddin district of Punjab.
https://www.brecorder.com/news/40067356/wapda-to-rehabilitate-rasul-hydel-power-station
Qatar shows interest to invest in Karachi and Gwadar ports
Federal Minister for National Food Security and Research Syed Fakhar Imam was called on by Saoud Abdul Rehman Al Thani, Qatari ambassador to Pakistan in the minister’s office Tuesday, said a press release issued on Tuesday. The ambassador and the minister were joined by their spouses.
https://www.brecorder.com/news/40067396/qatar-shows-interest-to-invest-in-karachi-and-gwadar-ports
Three capital market transactions: PC will offer shares to public by April
The Privatisation Commission (PC) will offer shares to the public in three capital market transactions by April 2021. This was disclosed on Tuesday, in a virtual webinar hosted by the PAK-USA Business Community and participated by the PC and the Board of Investment (BoI) from Pakistan.
FMCGs distributors not allowed to avail tax relief
Federal Board of Revenue (FBR) has not allowed the distributors of Fast Moving Consumer Goods (FMCGs) to avail the same tax relief, provided to the dealers, sub-dealer, wholesaler and retailers under the latest spate of changes in the Income Tax laws.
https://www.brecorder.com/news/40067435/fmcgs-distributors-not-allowed-to-avail-tax-relief
2021-23: ADB’s COBP for Pakistan aligned with govt’s strategy
The indicative resources available for commitment during 2021-2023 for sovereign operations for Pakistan is $5.436 billion, comprising $3.645 billion for regular Ordinary Capital Resources (OCR) lending and $1.79 billion for concessional OCR lending (COL), says the Asia Development Bank (ADB).
https://www.brecorder.com/news/40067436/2021-23-adbs-cobp-for-pakistan-aligned-with-govts-strategy
Rs436bn to be added to circular debt in FY21, govt tells NA body
With the members expressing concern over flow of circular debt, the government, on Tuesday, informed the Finance Standing Committee of the National Assembly that Rs436 billion would be added to the circular debt during the ongoing fiscal year to take the total stock to Rs2.6 trillion by June 2021.
Withholding tax waived on sugar imports
The Federal Board of Revenue (FBR) on Tuesday notified exemption of withholding tax on import of 500,000 tonnes of sugar. The government has already exempted 17pc sales tax and 3pc minimum value-added tax on sugar import and its subsequent supply in domestic market.
https://www.dawn.com/news/1609068/withholding-tax-waived-on-sugar-imports
Downgrade fears will deter countries from joining G20 debt relief: World Bank
Fears of credit rating downgrades will deter the world’s poorest countries from taking advantage of debt relief being offered under the G20 common framework, World Bank chief economist Carmen Reinhart said.
Sale of Urea grows by over 147% YoY during January
The overall urea offtake during the month of January 2021 was 649 thousand tonnes, which witnessed an increase of 147.8 per cent as compared to the offtake of 262 thousand tonnes in January 2020.
https://mettisglobal.news/sale-of-urea-grows-by-over-147-yoy-during-january
Enterprise Value (EV)
-Word of the Day-
Enterprise value (EV) is a measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company’s balance sheet. Enterprise value is a popular metric used to value a company for a potential takeover.
