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Morning Buzz for Feb 27, 2012 – MR Securities

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Karachi: Govt to withdraw amnesty for stock market The government has decided to withdraw the exemption granted to stock investors from disclosing the source of income as well as remove [...]

Karachi: Govt to withdraw amnesty for stock market

The government has decided to withdraw the exemption granted to stock investors from disclosing the source of income as well as remove the freeze on rates of capital gains tax, sources say.

According to MR Securities,

Iran keen to help reduce energy shortages in Pakistan: 100 megawatts power project to be completed soon
Iran is seriously working to overcome the energy crisis of Pakistan, said Iranian Consulate General Mohammad Hossain Bani Asadi on Saturday.

IMF optimistic about Indo-Pak trade
The International Monetary Fund (IMF) has said that trade between India and Pakistan is expected to accelerate after the grant of most favoured nation (MFN) status to India by Pakistan.

External debt servicing crosses $10 billion mark
The country’s totalled external debt servicing has crossed $ 10 billion mark during the first half of current fiscal year 2011-2012 (FY12) mainly due to rising burden of foreign debt and massive repayments of scheduled banks’ borrowing.

Habib Bank’s profit after tax rises to Rs 20.741 billion
The profit after tax of Habib Bank Limited has increased to Rs 20.741 billion in the year ended December 31, 2011 as compared to Rs 15.613 billion earned in the year 2010.

July 2011 to February 2012: ADB becomes largest assistance provider
Pakistan has received $1.1b as foreign assistance from July 2011 to February 2012 while the Asian Development Bank (ADB) was largest donor by releasing $470 million to the country during this period.

Khyber Pakhtunkhwa government rules out possibility of BoK privatization
Khyber-Pakhtunkhwa government has ruled out any deal for privatization of Bank of Khyber (BoK), but mere selling 26 percent share of the Bank for brining change in the exiting management.

First instalment of $399 million paid to IMF
Pakistan on Friday successfully paid the first instalment of 258.4 million SDRs (dollars 399 million) of Stand-By Arrangement (SBA) to the International Monetary Fund (IMF).

Businessmen reject CNIC, NTN condition; plan protest
The businessmen have rejected the mandatory requirement of computerized national identity card (CNIC) and national tax number (NTN) of unregistered persons from March 2012 and plan for protest.

PAEC granted operating licence of Chashma NPPU-2
Pakistan Nuclear Regulatory Authority (PNRA) Chairman granted the operating license to Pakistan Atomic Energy Commission (PAEC) Chairman for operation of Chashma Nuclear Power Plant Unit-2 (C-2), which is a 325MW nuclear power plant constructed at Chashma in District Mianwali.

Exporters fail to make timely foreign deliveries
Pakistani businessmen were unable to make on-time deliveries of foreign orders, despite competitive quality and prices, due to discriminatory gas suspension by the government for Punjab industries.

US committed to assisting Pakistan in power sector: Melissa
Energy Office Director USAID Mission to Pakistan, Melissa Knight said that United States (US) is committed to assist Pakistan in improving power distribution system in order to cope with energy crisis.

TAPI, IPI projects seen vital for regional integration, prosperity
Two mega energy projects – Turkmenistan-Afghanistan-Pakistan-India (TAPI) and Iran-Pakistan-India (IPI) gas pipelines can serve as highways to regional prosperity for the region and world as well.

Pakistan to host conference on Islamic funds
Financial world is banking upon Islamic finance and Shariah-compliant investment funds, in backdrop of the current global financial crisis, which in turn is bringing a boost to the Islamic funds and Sukuks.

Finance facility to Pepco bound to increase tariff: experts
Another Rs 151bn finance facility arranged by the Federal government from domestic banks through Term Finance Certificates (TFCs) at 14% interest rate for sick Pakistan Electric Power Company to pay off liabilities is bound to increase electricity tariff as PEPCO will pass on huge interest to the consumers.

Zero-rated sales tax allowed against international tenders
A zero-rated sales tax has been granted on the supply made against international tenders issued by the government and public sector organizations, a notification issued by the Federal Board of Revenue.

Banks post 27 percent growth in 2011
At a time when there are fears of US recession and banking stocks remained under pressure, large private banks in Pakistan have posted above average growth of 27 percent in 2011, analysts said. The cumulative

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