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Stocks and Bonds: Pakistan


Power Distribution Companies (Discos) with a view to showing reduction in losses have reportedly sent inflated bills, well-informed sources told Business Recorder. Discos have sent extra reading over and above the consumed units which is the main reason for the inflated bills, the sources added. The government has also shown improved recoveries by withdrawing Rs 1.30 per unit subsidy for those consumers using 200-300 units in a month as per agreement with the International Monetary Fund (IMF).

Tax experts have detected a damaging loophole in the taxation system where there is a possibility of manipulation of the Computerised National Identity Card (CNIC) of Pakistani citizen for issuance of National Tax Numbers (NTNs), which could be later used for filing tax returns and claiming refund without the consent of actual citizen.
The government's claim of Rs 500-800 billion loss due to ongoing sit-ins by Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek has been challenged by economists, business community. Former Finance Minister Selman Shah said here Saturday that so far the ongoing sit-ins have not inflicted any major loss to the economy because these are being held in the federal capital where there are no production units.
India's Supreme Court needs to decide fast on the fate of nearly 220 coal blocks it has declared illegal, Finance Minister Arun Jaitley said Saturday, as the nation grapples with already bad fuel shortages. The court will hold a hearing Monday to consider what to do with the 218 coal licences awarded to companies over the past two decades to fuel their steel, manufacturing and other plants that it has pronounced illegal.
The following transactions member to member subsequently reported on Saturday (August 30, 2014).

The following were the cross transactions between client to client & financial institutions here on Saturday (August 30, 2014).

Equities showed strong recovery on the last trading day of the week Friday after PAT, PTI accepted the Army as mediator and announced that they will resume dialogues with the government. The benchmark KSE-100 index, after 6 years, posted a record increase of 793 points to close at 28,568 points Friday compared to 27,774 points Thursday.


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln