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SECP wants companies, offering right shares to provide all-encompassing disclosures ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has enhanced the disclosure requirements for companies, offering right shares and as per new disclosure policy, the companies would have to provide detailed and all-encompassing disclosures to their prospective investors.The new robust disclosure requirement has replaced S.R.O. issued on the subject in 1986 aimed at enabling the prospective investors to make well-thought-out and informed decisions, says a statement issued by the Commission hereon Tuesday.The new circular empowers investors to make a risk assessment and undertake a benefit analysis based on true certified information provided by company.Under the 1984 Companies Ordinance, companies are empowered to enhance their capital by offering right shares to all their members in proportion to their existing shareholding.The right offer letters are traded on the stock exchanges and are renounceable therefore the right share can be subscribed by other investors as well.The newly prescribed disclosure and certifications requirements, ...

Pakistan's economy showing signs of recovery: ADB ISLAMABAD: Pakistan's economy is showing signs of recovery underpinned by falling global oil prices and the expected uptick in regional economic growth.A report of Asian Development Bank (ADB) "the Asian Development Outlook (ADO) 2015, ADB's flagship annual economic publication here Tuesday forecasts that Pakistan's economic growth in 2015 would modestly improve to 4.2 percent and to 4.5 percent in 2016, subject to steady progress in macroeconomic and structural reforms, and stable security, political, and weather ...
FPCCI to welcome investment from Qatar in energy sector: Jamali KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) would welcome investment by Qatar in its ongoing and new energy and infrastructure projects.FPCCI Vice President Fehmida Jamali talking to a delegation of Pak- Qatar Business Council here, hoped that Qatar would also support early conclusion of Free Trade Agreement (FTA) between Pakistan and Gulf Cooperation Council (GCC).She said it's high time that Pakistan businessmen should initiate joint ventures (JVs) with Qatar counterparts as abundant ...
Textile exports up 0.47pc in 8 months ISLAMABAD: The textile exports from the country increased by 0.47 percent during the first eight months of current fiscal year against the exports of same period of last year.The overall textile exports during July-February (2014-15) were recorded at US $9.179 billion against the exports of $9.136 billion during July-February (2013-14), according to Pakistan Bureau of Statistics (PBS).The textile products that witnessed increase in trade included yarn other than cotton yarn export of which increased by ...
HCCI expresses concern over resurgence of alleged land mafia HYDERABAD: The Hyderabad Chamber of Commerce and Industry (HCCI) has expressed concern over the alleged re-surfacing of land Mafia in Hyderabad areas.The concern was expressed by President HCCI, Goharullah in the statement released here on Thursday.He appealed to higher authorities to take action against alleged land grabbers.Copyright APP (Associated Press of Pakistan), 2015 ...
LCCI urges SBP to bring down discount rate LAHORE: Lahore Chamber of Commerce & Industry (LCCI) has urged State Bank of Pakistan (SBP) to bring down discount rate in the upcoming monetary policy to pave way for much-needed new investments in the industrial sector. President LCCI Ijaz A. Mumtaz said this in a statement here Thursday.He said that State Bank of Pakistan has already initiated moves for bringing down the discount rate in the last monetary policy but that was not enough to ...
14.78mn cotton bales reach ginneries across Pakistan MULTAN: Seed cotton (Phutti) equivalent to 14.78 million bales have reached ginneries across Pakistan till Mar 15, 2015 registering a percentage increase in arrivals by 10.59 per cent compared to corresponding period of last year. According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA) issued here Wednesday, Phutti equivalent to 14,785,795 bales had reached ginning factories and 14.75 million of them have undergone the ginning process. The arrival at Punjab ginneries was recorded ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln