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The Karachi stock market remained dormant on the first trading of the week Monday amid concerns among investors over lack of liquidity to fund the market, Pak-India relations and 48-hour alert given by the security agencies in Pakistan, analysts said.The Karachi Stock Exchange (KSE) 100-share index remained unchanged at 9,187.10 points. The KSE 30 index and KMI 30 index also remained at 9,981.93 points and 11,224.18 points respectively. The market turnover gained 175.67 percent and traded 0.102 million shares as compared to 0.037 million shares traded in the previous session. The overall market capitalisation remained unchanged at Rs 2.820 trillion. Out of 11 companies, two closed in the positive zone, one in negative while eight remained unchanged. Analysts said investors remained concerned over prevailing negative sentiments in the market and expected foreign selling due to law and order situation in the country.They said with Indian blaming Pakistan over the Mumbai incident and heig...

The government has forwarded a proposal regarding the removal of floor at Karachi Stock Exchange (KSE) to the International Monetary Fund (IMF), which has reportedly opposed the removal of floor or injection of funds in the stock market.According to reliable sources, the Ministry of Finance forwarded the proposal - the one submitted to the government for the floor removal by the KSE authorities - to IMF. The proposal spells out the strategy that could bring the trading at market to normalcy, which has been suspended for more than three months to save the market from disaster."What are the reservations of IMF over the removal of market floor and the stabilisation fund are still unknown and the government officials are still to share this information with the board of the exchange, which has been kept in dark so far by the authorities," a director of the board told Daily Times. Sources said that IMF would take the decision in December and in case of a favorable outcome, the flo...

Pakistan State Oil (PSO) has launched Vehicle Identification System (VIS) for their valued customers particularly users of pre-paid cards. The VIS is the state of the art system that provides full automation by identifying and recognising the vehicle in which the fuel needs to be dispensed. Vehicle is recognised before delivery of the product by using a special device. According to details revealed during the launch ceremony, a smart tag is installed in the fuel tank of the vehicle, while the sensor or the reader is placed in the nozzle of the dispensing unit. As soon as the nozzle is placed in the fuel tank of the vehicle it senses and recognises the vehicle and allows the dispensing unit to start the filling operation. staff report