In view of the declining trend of Covid-19 cases prevailing in the country, the National Command and Operation Centre (NCOC) on Wednesday relaxed a number of restrictions on commercial activities and official work.
The federal government is reportedly in a serious dilemma on payment of Rs 400 billion to 47 Independent Power Producers (IPPs) as National Accountability Bureau (NAB) has indicated it may take some IPP cases to accountability court.
ith sub-optimal utilisation of earlier $4.5 billion worth of three-year financing framework, Pakistan and the International Islamic Trade Finance Corporation (ITFC) on Wednesday signed a $1.1bn trade financing facility for the current year.
KASB Market View
Pakistan’s stock market continued to lose ground for the third consecutive day on Wednesday as the benchmark KSE-100 index shed over 350 points. The bearish momentum prevailed in the absence of major positive triggers which could provide direction to the market.
Pakistan gets $1.1bn financing to import oil, LNG
ISLAMABAD: With sub-optimal utilisation of earlier $4.5 billion worth of three-year financing framework, Pakistan and the International Islamic Trade Finance Corporation (ITFC) on Wednesday signed a $1.1bn trade financing facility for the current year.
NCOC relaxes Covid restrictions as cases decline
ISLAMABAD: In view of the declining trend of Covid-19 cases prevailing in the country, the National Command and Operation Centre (NCOC) on Wednesday relaxed a number of restrictions on commercial activities and official work.
The sword of NAB hangs over some IPPs’ heads
ISLAMABAD: The federal government is reportedly in a serious dilemma on payment of Rs 400 billion to 47 Independent Power Producers (IPPs) as National Accountability Bureau (NAB) has indicated it may take some IPP cases to accountability court, well-informed sources in Finance Division told Business Recorder.
Nepra reduces RoE component of N-plants
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has reduced the Return on Equity (RoE) component of three nuclear power generation plants, the C-2, C-3 and C-4 having a cumulative net capacity of 931MW which will result in saving of Rs. 2.05 billion per year (average Rs 0.2515/unit) for the remaining life of the Nuclear Power Plants, i.e., 25-37 years approximately.
RDA initiative fetches $554m in 5 months
KARACHI: The State Bank of Pakistan’s (SBP) Roshan Digital Account (RDA) initiative for Non-Resident Pakistanis (NRP) has so far fetched $554 million inflows through 92,500 accounts during the last five months.
Dollar falls to Rs158.76 as rupee continues winning streak
Pakistani Rupee appreciated by 13 paisas (+0.08pc) against the US Dollar on Wednesday, making it the third straight day of gains against the greenback during the ongoing week. According to the State Bank of Pakistan, the US Dollar opened at Rs158.89 and closed at Rs158.76 on Wednesday.
GoP, ITFC sign $1bn annual financing plan
ISLAMABAD: The government of Pakistan and the International Islamic Trade Finance Corporation (ITFC), a subsidiary organisation of Islamic Development Bank Group on Wednesday signed annual financing plan amounting to $1.1 billion.
Cement export decreases 3.80pc in 7 months
ISLAMABAD: The exports of cement from the country witnessed a decrease of 3.80 percent during the seven months of financial year (2020-21) as compare to the corresponding period of last fiscal year. The country exported cement worth US $163.673 million during July-January (2020-21) as against the exports of US $170.133 million during July-January (2019-20), showing negative growth of 3.80 percent, according to the Pakistan Bureau of Statistics (PBS).
Moody’s expects Islamic banking to expand across South Asia post-pandemic
As per a new report by Moody’s Investors Service, Islamic banks in South and Southeast Asia have sufficient capital and liquidity to meet increased demand for financing as economies recover from the pandemic, while young, growing populations and government efforts to develop the sector will support long-term growth.
Food exports increase 1.05pc in January
ISLAMABAD: Food group exports from the country during month of January, 2021 witnessed about 1.05 percent growth as compared the exports of the corresponding month of last year.
Imported items covered; Reduced rate of 2pc tax shall be applicable from Nov 20, 2020
ISLAMABAD: The Federal Board of Revenue (FBR) has issued a legal clarification that the reduced rate of two percent tax shall be applicable prospectively from November 20, 2020 on imported items covered under SRO1240(I)2020 dated November 20, 2020 under reclassification procedure.
OGDC revises drilling target to 30 wells
KARACHI: The Oil and Gas Development Company (OGDC) has revised down its drilling target to 30 wells (earlier 45) with revised capex of Rs30-35 billion. The OGDC Management said, they are the interested party in Mari Petroleum and in case of divestment by the government they may show interest in acquiring more share. Removal of cap on Mari dividend was also a long standing demand of OGDC.
Cotton rate jumps to 11-year high
LAHORE: The rate of cotton touched Rs 12000 per maund which is highest in 11 years. The Spot Rate Committee of the Karachi Cotton Association on Wednesday closed the rate at Rs 11700 per maund which is at the highest level in the history.
FBR paying up to Rs250bn refunds to exporters every month
SIALKOT: FBR’s Inland Revenue (Operations) Member Dr Muhammad Ashfaq has said the newly-upgraded ‘Fully Automated Sales Tax e-Refund (FASTER) Plus system’ is a transparent one. Addressing a meeting of exporters organized by the Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) on Wednesday, he said the FBR was paying refunds’ claims of Rs200-250 billion to exporters every month.
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.