Author Topic: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange  (Read 6764263 times)

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Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39399 on: August 23, 2019, 06:02:00 PM »

https://tribune.com.pk/story/2040367/2-apg-places-pakistan-enhanced-monitoring-list-least-one-year/?fbclid=IwAR2IerM-3ELNBS3xofcdsY4ULLVIy3hoiFKH-Vlc0oJho6TMBrvR2ImKbsg

APG places Pakistan on enhanced monitoring list for at least one year



ISLAMABAD: The Asia Pacific Group on Money Laundering has placed Pakistan on its enhanced monitoring list after Islamabad’s performance was found unsatisfactory on three-fourth of the Financial Action Task Force’s (FATF) recommendations.

In its Mutual Evaluation Report, the FATF style regional body observed that the effectiveness of Pakistan’s Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) regimes were of low level.

The APG prepared the Mutual Evaluation Report after two visits to Pakistan during which they exchanged at least four technical annexures with Islamabad – the body provided government ample opportunities to improve the situation.

Pakistan’s Financial Monitoring Unit (FMU) played an effective role as coordinating agency to highlight areas for improvement on which authorities were required-to focus and address the issues.

Islamabad now has six months to show progress as the first enhanced monitoring report will be submitted in February next year to APG. APG findings will be presented in the FATF Plenary. Pakistan’s “enhanced monitoring”, on the other hand, begins immediately.

Enhanced Expedited Follow up List

Under the list, Pakistan would be required to submit report to APG on February 1, 2020. The report will show improvements in the technical compliance, a top Pakistani official who attended the APG meetings confirmed to The Express Tribune.

The official dismissed Indian media reports that Pakistan was blacklisted by the APG.

“Media reports being circulated about Pakistan being blacklisted by APG are incorrect and baseless”, stated Ministry of Finance in a brief statement on Friday, which will follow a detailed press release.

Pakistan is now required to submit its performance report to the APG twice a year.

The sources said that out of 40 universal recommendations of Financial Action Task Force (FATF), Pakistan’s rating was partially and non-compliant on 30 recommendations and performance was also below par on 10 as against 11 Immediate Outcomes.

Out of total 11 Immediate Outcomes -which determine the effectiveness of the AML and CFT frameworks, only on one indicator was effectiveness was found moderately effective and on rest of 10, the rating was ineffective.

On Wednesday, APG on Money Laundering adopted Pakistan’s Mutual Evaluation Report (MER) during a meeting held in Canberra, Australia.  “The MER covers the period from February to October 2018 and identifies a number of areas where further actions are required to strengthen the AML/CFT framework.

But the Ministry of Finance officials believed that Pakistan has addressed some of the weaknesses during the past 10 months that will be reflected in February 2020’s report. It was Pakistan’s second Mutual Evaluation in the past five years and third in the past ten years. Yet many of the sectors and areas that were found non-compliant remained unaddressed during the past ten years.

The sources said that Pakistan had anticipated the adverse outcomes of the APG and prepared an internal action plan of around 150 points. The country wanted to implement the plan in two years but it seems that the task has to be completed in one year.

In case it fails to improve the situation even after falling in the Enhanced Expedited Follow Up list, the chances of an adverse decision by FATF will multiply.

A handout issued by the APG after the meeting noted that during the week, APG members adopted six significant mutual evaluation reports. The reports – for China, Chinese Taipei, Hong Kong, China, Pakistan, the Philippines, and the Solomon Islands – were analysed and discussed in detail over two full days and will now be subject to post-plenary quality and consistency review prior to publication.  Final publication on the APG website is expected in early October 2019.

The FATF has already grey-listed Pakistan with effect from June 2018 and adverse findings by the APG would keep Islamabad on the radar of the global and regional bodies working to curb money laundering and terrorism financing.

The FATF Plenary will be held in October where the implementation on an ongoing 27-point Action Plan and adverse APG findings will be reviewed.

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39399 on: August 23, 2019, 06:02:00 PM »

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39400 on: August 24, 2019, 11:42:28 AM »
Today’s highlights include:
·         Prime minister seeks economic revival plan
·         CM sets 48-hour deadline to drain water out of each street of Karachi
·         PM orders quick removal of waste in Karachi
·         PM orders crackdown on benami assets
·         FBR talks with traders remain inconclusive
·         NAB not to pursue sales, income tax cases against businessmen
·         UAE help in tracing people with ‘illegal’ wealth sought
·         Centre announces PKR 125Bn Sindh barrage project
·         Industry concerned over ban on polyethylene bags
·         APG places Pakistan on enhanced monitoring list for at least one year
·         Conditions eased for solar panel import to clear stuck containers
·         New scheme for used vehicles import likely
·         Govt. levies 3% regulatory duty on cotton import
·         Naqvi to chair SECP policy board
·         China to impose new tariffs on $ 75Bn of US imports


Offline Farzooq

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39401 on: August 24, 2019, 11:43:47 AM »
6 Week Drought Ends With Historic High Weekly Return

Market Commentary

The KSE100 Index sharply bounced back this week with a positive weekly return after a long six-week bloodbath. Participation in the index also increased with volumes witnessing a drastic surge compared to recent trends. The index closed at 31,350 pts, rising 2585 pts WoW (9% WoW) which is the highest weekly return ever in terms of points. The stellar inflection of the index was long over-due with valuations nose-diving to dirt cheap levels. Moreover, improving trend of the external account balance further rejuvenated sentiment, with the Current Account Deficit declining 73% YoY/37% MoM during Jul’19 (USD 579mn). The latest PIB auction saw raising of PKR 434bn against a target of PKR 100bn with cut-off yields declining by 25 bps and 40 bps for the 5-Yr and 10-Yr PIBs respectively, indicating that the markets see interest rates to have peaked. Reduction in the cut-off yields is likely to have a positive bearing on equity valuations. That said, the last trading session saw a decline of 534 pts primarily attributable to profit-taking.

Sector-wise positive contributions were led by i) Commercial Banks (744pts) ii) Oil & Gas Exploration Companies (469pts), iii) Fertilizer (319pts), Cement (235pts), and v) Power Generation & Distribution (216pts). Scrip-wise positive contributions came from ENGRO (256pts), OGDC (205pts), HBL (188pts), HUBC (160pts) and MCB (147pts).

Foreign selling was witnessed this week clocking-in at USD 4.97mn compared to a net buy of USD 1.70mn last week. Selling was witnessed in Exploration & Production (USD 6.0mn) and fertilizer (USD 0.8mn). On the domestic front, major buying was reported by Individual (USD 6.5mn) and Broker Proprietary Trading (USD 3.8mn). Average Volumes settled at 174mn shares (up by 135% WoW) while average value traded clocked-in at USD 38mn (up by 83% WoW).

Other major news: i) C/A gap narrows in July on improved trade balance, ii) World Bank president to visit Pakistan in first week of Nov, iii) Another hurdle crossed as FATF meetings loom, iv) Rs 417 billion dues on account of GIDC: Presidential Ordinance to be promulgated, and v) 1320MW coal-fired Hub power plant commissioned.

Outlook and Recommendation

We expect the market momentum to slow down amid profit-taking. Albeit, we see the overall sentiment to remain positive with investors continuing to accumulate scrips at current attractive valuations. Foreign interest is likely to revive amid improving external account balance and strengthening FX reserves. Our preferred stocks are OGDC, PPL, BAFL, BOP, MCB, LOTCHEM, EPCL, ACPL, EFERT and FFC. The KSE-100 index is currently trading at a PER of 5.9x (2020) compared to Asia Pac regional average of 12.8x and while offering DY of ~11.1% versus ~2.5% offered by the region.
TOP PICKS
Engro efert ogdc ppl pso dgkc luck hubc ubl hbl atrl nrl nml efoods aicl hcar searl

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39402 on: August 24, 2019, 11:47:58 AM »

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39403 on: August 24, 2019, 11:49:00 AM »

Offline Farooq Qadir

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39404 on: August 25, 2019, 09:15:20 PM »
The stock market took a surprise turnaround last week with almost a decade high weekly returns.

Besides many other positives, the investors were also enthused by the visit of the newly appointed regulator who held deliberations with participants on market malaise.

The major issue that surfaced was the dry up of liquidity.

Meetings held between the Securities and Exchange Commission of Pakistan (SECP) chairman Aamir Khan and National Clearing Company of Pakistan Ltd (NCCPL) considered ways and means to facilitate flow of funds in the market.

According to sources a meeting of the board of directors of the NCCPL would be held on Aug 27 at which several important measures would be considered and approved to enhance trading capacity of market participants and make the market more liquid.

Although the NCCPL board would approve those on Tuesday, sources at both the SECP and NCCPL confirmed to Dawn that the following steps would come under consideration in the meeting and after the NCCPL board’s approval, they would revert to the SECP for a final go-ahead.

The likely decisions include, the 10 per cent additional margins being collected by NCCPL on top of Exposure Margins shall be discontinued; the 10pc additional haircuts being applied by NCCPL on margin eligible securities on top of existing haircuts shall be discontinued; basic deposit collected by NCCPL from brokers trading in the deliverable futures market shall be allowed to be used towards margin requirements of brokers with NCCPL to enable brokers to efficiently utilise their capital.

Also the revised slabs of liquidity margins shall be implemented and would be applicable only on large exposures of brokers. For managing risks, credit rating would also be taken into account while implementing the revised slabs.

Other measures to be adopted include the Repeal of Circular 20 of 2017 which dealt with unauthorised deposit taken by brokers. Circular 12 of 2019 has been issued on Aug 23 whereby brokers complying with certain conditions can pay interest on the subordinated loans taken from their directors, sponsors or substantial shareholders. It is expected to enhance the liquidity available with brokers.

Secondly, the blocked shares of PSX are proposed to be released. The commission had earlier unconditionally unblocked shares of PSX which had been blocked at the time of offer for sale, but due to misunderstanding at PSX the shares had remained static.

Following the clarification issued to PSX on Aug 21, the shares of PSX would now be unfrozen. It is expected to increase trading capacity of brokers and enhance liquidity.

Third, the minimum brokerage commission can be introduced at PSX and regulatory amendments in the matter may be framed in order to address anomalies in the market relating to charging of commission to different clients.

A major step that is likely to unleashed funds in the market is the launch of Murabaha Share Financing System already approved by the SECP. This system would allow financing in Shariah- compliant securities. It would become effective from next month.

It is also learnt that the SECP is in the process of allowing asset management companies (AMCs) on behalf of open and equity collective investment schemes to borrow from financial institutions for investment purposes, maximum up to 7.5pc of net asset of the scheme, within the existing overall borrowing limit of 15pc. These AMCs are currently allowed to only borrow from meeting redemption requirements. “This measure is a major step in attracting liquidity into the stock market,” sources said.
POL, ENGRO,ACPL,AHL,EFERT,ATRL,AICL,PAKRI, HBL,EFERT,BOP,OGDC

Offline salmankaramat

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39405 on: August 26, 2019, 11:04:42 AM »
I think you have got your answer Investonly, i had said it because i know how bug fishes confuse small fishes in these circumstances and sell their holdings. I have seen it happening many times specially last time we were placed on Grey list. Now every newspaper is saying that AGP has put Pakistan on Enhanced monitoring, we were laready on grey list and this enahnced monitoring means we are in black list but initially the broker community outrightly denied it and offloaded their holdings and now the truth is out. We are in with a big risk of being blacklisted by FATF in October because of non compliance with 32 out of 40 previous action points, now after being put in enhanced monitoring by AGP, we will have to comply with a long list of action points to comply with. Personal gains mean nothing to me and for God sake start accepting truth instead of labelling with slogans like "anti nation".




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   Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39397 on: August 23, 2019, 05:15:27 PM »Quote Add Multi Quote Remove Multi Quote Quote from: salmankaramat on August 23, 2019, 02:21:46 PM
Pakistan governments have always denied any negative developments initially and afterwards they prove wrong, same happened when we got into grey list. Initially India reported it and we denied it, later on when it was confirmed, nobody spoke nothing.

Don't be anti-nation and misquote the facts just for personal gains

Offline Ali

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39406 on: August 26, 2019, 11:34:35 AM »
I think you have got your answer Investonly, i had said it because i know how bug fishes confuse small fishes in these circumstances and sell their holdings. I have seen it happening many times specially last time we were placed on Grey list. Now every newspaper is saying that AGP has put Pakistan on Enhanced monitoring, we were laready on grey list and this enahnced monitoring means we are in black list but initially the broker community outrightly denied it and offloaded their holdings and now the truth is out. We are in with a big risk of being blacklisted by FATF in October because of non compliance with 32 out of 40 previous action points, now after being put in enhanced monitoring by AGP, we will have to comply with a long list of action points to comply with. Personal gains mean nothing to me and for God sake start accepting truth instead of labelling with slogans like "anti nation".




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   Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39397 on: August 23, 2019, 05:15:27 PM »Quote Add Multi Quote Remove Multi Quote Quote from: salmankaramat on August 23, 2019, 02:21:46 PM
Pakistan governments have always denied any negative developments initially and afterwards they prove wrong, same happened when we got into grey list. Initially India reported it and we denied it, later on when it was confirmed, nobody spoke nothing.

Don't be anti-nation and misquote the facts just for personal gains
[/quote

Lot of love and prayers for Salman bhai. You were right on Friday. I sold majority approx all my holding on Friday. God bless you.

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39407 on: August 26, 2019, 12:04:31 PM »
Today’s highlights include:
·         Govt to adopt well-monitored growth strategy
·         Economic indicators improve - govt working on giving benefits to masses: Shaikh
·         KCCI laments tax collection policy
·         DMCs, not SSWMB, be given funds to dispose of garbage, says mayor
·         PM sets up body to help meet FATF targets
·         PM Office mulls amnesty plan for tax evaders
·         Cabinet body likely to approve CPEC Authority establishment today
·         $ 100Mn more EU investments in petroleum sector likely
·         Vehicle token tax concession to end on Aug 31
·         Further $ 100Mn EU investments to come in petroleum sector
·         CDNS investors encash PKR 40,000 bonds worth PKR 65Bn
·         Trump raises tariffs on Chinese goods as trade war escalates


Offline Amjad Ali

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39408 on: August 26, 2019, 12:27:30 PM »
I think you have got your answer Investonly, i had said it because i know how bug fishes confuse small fishes in these circumstances and sell their holdings. I have seen it happening many times specially last time we were placed on Grey list. Now every newspaper is saying that AGP has put Pakistan on Enhanced monitoring, we were laready on grey list and this enahnced monitoring means we are in black list but initially the broker community outrightly denied it and offloaded their holdings and now the truth is out. We are in with a big risk of being blacklisted by FATF in October because of non compliance with 32 out of 40 previous action points, now after being put in enhanced monitoring by AGP, we will have to comply with a long list of action points to comply with. Personal gains mean nothing to me and for God sake start accepting truth instead of labelling with slogans like "anti nation".




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   Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39397 on: August 23, 2019, 05:15:27 PM »Quote Add Multi Quote Remove Multi Quote Quote from: salmankaramat on August 23, 2019, 02:21:46 PM
Pakistan governments have always denied any negative developments initially and afterwards they prove wrong, same happened when we got into grey list. Initially India reported it and we denied it, later on when it was confirmed, nobody spoke nothing.

Don't be anti-nation and misquote the facts just for personal gains
[/quote

Lot of love and prayers for Salman bhai. You were right on Friday. I sold majority approx all my holding on Friday. God bless you.

bhai logo sakon say beytho or intezar karo 20,000 k level ka, jabtak market 20k ka level touch nahi karegi solid rebound nahi hoga

Offline salmankaramat

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39409 on: August 26, 2019, 01:08:22 PM »
Ali, thanks and I am glad that you benefited.

I see a lot of trouble going forward. Risk of going in black list, Indo Pak tensions, cement manufacturuers operating at 75% capacity, auto sales down by 42%, Steel sector totally messed up, it was just aggressive covering of short at 28,500 level and few people waiting for 28,500 level that pushed the index back otherwise next 6 months are very very challenging.

Offline ajeebkhan

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39410 on: August 26, 2019, 01:14:52 PM »
Ali, thanks and I am glad that you benefited.

I see a lot of trouble going forward. Risk of going in black list, Indo Pak tensions, cement manufacturuers operating at 75% capacity, auto sales down by 42%, Steel sector totally messed up, it was just aggressive covering of short at 28,500 level and few people waiting for 28,500 level that pushed the index back otherwise next 6 months are very very challenging.
2:30pm  :skeptic:

Offline HellBorne

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39411 on: August 26, 2019, 02:14:05 PM »
Quote
Today’s highlights include:
·         Economic indicators improve - govt working on giving benefits to masses: Shaikh

Yar pata tu karao  ye Hafeez Shaikh konsa sasta nasha karta he?

EDIT: Fixed quote tags.
« Last Edit: August 26, 2019, 07:07:37 PM by HellBorne »
Disclaimer:
** Don't trust me, I am a liar ** I share my views and analysis in personal capacity solely to meet like minded people.

Who am I?
A small investor, student, professional and curious person with dreams.

Offline salmankaramat

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39412 on: August 26, 2019, 02:53:32 PM »
cheap weed i guess.

Posted by: HellBorne
« on: Today at 02:14:05 PM » Insert Quote
[quote link=topic=550.msg350076#msg350076 date=1566803071]
Today’s highlights include:
·         Economic indicators improve - govt working on giving benefits to masses: Shaikh
[/quote]

Yar pata tu karao  ye Hafeez Shaikh konsa sasta nasha karta he?

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39413 on: August 26, 2019, 07:00:11 PM »

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39414 on: August 26, 2019, 07:01:56 PM »
FIPI August 26, 2019

Foreign
B: 4.99 mn
S: -3.63 mn
N: 1.36 mn

BANKS / DFI
B: 0.63 mn
S: -0.96 mn
N: -0.33 mn

BROKER PROPRIETARY TRADING
B: 10.36 mn
S: -10.49 mn
N: -0.13 mn

COMPANIES
B: 5.77 mn
S: -6.14 mn
N: -0.37 mn

INDIVIDUALS
B: 30.32 mn
S: -28.17 mn
N: 2.16 mn

INSURANCE COMPANIES
B: 0.47 mn
S: -0.39 mn
N: 0.08 mn

MUTUAL FUNDS
B: 0.63 mn
S: -3.42 mn
N: -2.79 mn

NBFC
B: 0.00 mn
S: 0.00 mn
N: 0.00 mn

OTHER ORGANIZATION
B: 0.51 mn
S: -0.49 mn
N: 0.02 mn

Foriegn
Sector-wise Breakup

All other Sectors
Gross Buy USD 0.75 mn
Gross Sell USD -0.59 mn
Net Buy USD 0.17 mn

Cement
Gross Buy USD 0.34 mn
Gross Sell USD -0.37 mn
Net Sell USD -0.03 mn

Banks
Gross Buy USD 2.20 mn
Gross Sell USD -1.27 mn
Net Buy USD 0.93 mn

Fertilizer
Gross Buy USD 0.59 mn
Gross Sell USD -0.22 mn
Net Buy USD 0.37 mn

Foods
Gross Buy USD 0.05 mn
Gross Sell USD -0.03 mn
Net Buy USD 0.03 mn

Oil and Gas Exploration
Gross Buy USD 0.54 mn
Gross Sell USD -0.60 mn
Net Sell USD -0.06 mn

Oil and Gas Marketing
Gross Buy USD 0.18 mn
Gross Sell USD -0.22 mn
Net Sell USD -0.03 mn

Power
Gross Buy USD 0.09 mn
Gross Sell USD -0.07 mn
Net Buy USD 0.01 mn

Technology
Gross Buy USD 0.22 mn
Gross Sell USD -0.23 mn
Net Sell USD 0.00 mn

Textile Composite
Gross Buy USD 0.02 mn
Gross Sell USD -0.03 mn
Net Sell USD -0.02 mn

KSE-100 Index August 26, 2019
Current Index 30,520.60
Net Change -829.42
Volume 92,662,810

Offline Alpha

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39415 on: August 26, 2019, 08:53:03 PM »
I think you have got your answer Investonly, i had said it because i know how bug fishes confuse small fishes in these circumstances and sell their holdings. I have seen it happening many times specially last time we were placed on Grey list. Now every newspaper is saying that AGP has put Pakistan on Enhanced monitoring, we were laready on grey list and this enahnced monitoring means we are in black list but initially the broker community outrightly denied it and offloaded their holdings and now the truth is out. We are in with a big risk of being blacklisted by FATF in October because of non compliance with 32 out of 40 previous action points, now after being put in enhanced monitoring by AGP, we will have to comply with a long list of action points to comply with. Personal gains mean nothing to me and for God sake start accepting truth instead of labelling with slogans like "anti nation".




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   Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39397 on: August 23, 2019, 05:15:27 PM »Quote Add Multi Quote Remove Multi Quote Quote from: salmankaramat on August 23, 2019, 02:21:46 PM
Pakistan governments have always denied any negative developments initially and afterwards they prove wrong, same happened when we got into grey list. Initially India reported it and we denied it, later on when it was confirmed, nobody spoke nothing.

Don't be anti-nation and misquote the facts just for personal gains

Yes i i agree no one has authority to call anyone anti nation.
ye mulk sab ka hai

Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39416 on: August 27, 2019, 11:15:15 AM »
Today’s highlights include:
·         FBR develops new refund system to boost exports
·         NAB withdraws tax cases against businessmen
·         Tax offices to serve notices on non-filer firms
·         Transparency International hails NAB for recovering PKR 71Bn
·         PSP chief accepts Karachi mayor’s offer to help clean Karachi, seeks his removal
·         Imran's cabinet may empower police to arrest electricity thieves
·         Cabinet Committee approves setting up CPEC authority despite objections
·         10 more state units picked for privatization
·         Exporters urge govt to overcome challenges
·         PM Imran takes notice of harassment of transporters
·         UNDP, Smeda to launch economic cooperation body
·         Pakistan, Chinese researchers on the brink of hybrid rice breakthrough
·         7th Pak-China Business Forum-Industrial Expo from 2nd Sep’19
·         Dutch say 100 companies make Brexit move


Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39417 on: August 27, 2019, 06:06:44 PM »
Fiscal Deficit at Record High of 8.9% in FY19





Online aatradekhi

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Re: PSX -- Pakistan Stock Exchange formerly Karachi Stock Exchange
« Reply #39418 on: August 27, 2019, 06:56:21 PM »