09252016Sun
Last update: Sun, 25 Sep 2016 06pm

Stocks and Bonds: Pakistan

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The Engineering Development Board (EDB) has reportedly failed to provide the agreement of three local car assemblers with their Japanese principals to the Senate and National Assembly's Standing Committees on Industries and Production despite passage of months after the issuance of the directives.

Turkish Prime Minister Binali Yildirim hit out at Moody's on Saturday, claiming it was biased after it cut Turkey's sovereign debt rating to "junk" status. Amid months of political turmoil, the ratings agency cut Turkey to "Ba1" level, saying the country's finances had weakened while its reaction to the July 15 attempted coup set back expected reforms.
With all the economic indicators moving in the desirable direction State Bank of Pakistan kept its policy rate unchanged for the next two months on Saturday. In a policy statement, issued on Saturday, SBP's Monetary Policy Committee (MPC), chaired by Governor SBP Ashraf Mahmood Wathra, took the above decision. Some of the members (who were in the minority) wanted a 'symbolic cut' in the SBP policy rate. But to protect depositors (savers) MPC, by a majority, voted to keep the rate unchanged at 5.75 percent.
The Planning Commission is not reflecting non-CPEC projects with CPEC projects and working on the projects under the CPEC has been expedited. Project Director/CPEC Co-ordination Dr Zahir Shah said this while taking to Business Recorder Saturday. He said projects under the CPEC are not only funded by China but also the Asian Development Bank (ADB).
Lahore High Court (LHC) has set aside an order passed by Commissioner Inland Revenue on the issue of exemption sought by a taxpayer having income under Final Tax Regime from withholding tax on purchase of immovable property under section 236K of the Income Tax Ordinance, 2001.
The Securities and Exchange Commission of Pakistan's "Youth Investment Week" is going on at the Pakistan Stock Exchange (PSX) in Karachi. It has been arranged in collaboration with the PSX and the National Clearing Company Pakistan Limited (NCCPL).
The following transactions member to member subsequently reported on Saturday (September 24, 2016).