KARACHI: The inflation rate would drop down to half by June 2009, yet this rate for the current fiscal year (CFY) would remain higher than the government target. State Bank Monetary Policy Division’s Director, Dr. Hamza Ali Malik told Geo News in its ‘Tezi Mandi’ program that the Central Bank’s estimations show that the inflation rate would drop down by half to 12 percent, but the inflation for the full fiscal year would average 20 percent. Hamza Malik said that according to the first quarter 2008-2009 figures, financial costs work out to 5 percent of the gross production costs. He said that paucity of power, gas and law and order situation were the major snags in the industrial developments. He said that the cut in interest rate at this stage was not congenial for keeping the forex reserves at satisfactory levels as well as for keeping the value of rupee stabilized.

KARACHI: Chairperson National Assembly’s Finance Committee Fauzia Wahab will visit Karachi Stock Exchange (KSE) on Wednesday. KSE officials told Geo News on Saturday that she will undertake the visit on the invitation of KSE. During the visit Fauzia Wahab will meet KSE board members. She will brief them about the progress made in connection with demutualization of stock exchanges of the country and government’s policy for the development of equity market.

The last day of business week Friday was the fourth consecutive day in Karachi Stock Exchange when bourse witnesses bullish activities where self-assured investors remained busy in share trade frequently and propel the market to land into positive column at the closing time which gained 3.7467 per cent following the buying in leading scrips by government institutions as well as local investors. The Karachi Stock Exchange’s benchmark KSE-100 index gained 194.20 points to close at 5,377.42 points as compared to 5,183.22 points on Thursday. Volume remained at 190,797 million shares significantly downward compared to Thursday which is far below the average of 250 million shares traded daily last year. The market opened on Friday with positive note and gained near 100 points within hour but within first session the bourse went down slightly on account of profit taking tactics of traders while the second session the bourse further gained some points and at the closing time of the market achi...

KARACHI: Stock market listed companies have been allowed to use securities market price as fair value for making the financial statements for the period ending December 31, 2008. Securities and Exchange Commission (SECP) said that the companies could use stock exchange listed securities’ market price as fair value for the financial statement made for the period ending December 31, 2008 and in the wake of it the profit or loss incurred would be resolved under IAS-39.

KARACHI: Active participation of investors in banks, oil and fertiliser scrips and NIT State Enterprise Fund helped the Karachi stock market to maintain the bullish trend on Thursday. The Karachi Stock Exchange (KSE) 100-share index gained 43.29 points to close at 5,183.22 points as compared to 5,139.93 points traded in the previous session. The KSE 30 index also increased by 89.17 points and closed at 4,961.95 points as compared with 4,872.78 points of the previous session. The KMI 30 index also went up 35.13 points and closed at 6,894.75 points as against 6,859.62 points of the previous session. The market turnover rose 42.17 percent and traded 143.88 million shares as compared to 248.80 million shares traded in the previous session. The overall market capitalisation added 0.48 percent to close at Rs 1.645 trillion as compared with Rs 1.637 trillion traded in the previous session. Out of 288 companies, 97 closed in the positive zone, 185 in negative while six remained unchanged. Anal...

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Wednesday launched “Business Performance Index”, the first of its kind in the history of the country. FPCCI President, Tanveer Ahmed Sheikh announced the launching of the index at Federation House in a ceremony, which was attended by the business community. Talking to media, FPCCI President said that the index has been launched to project transparently the business activities in the country and hoped that it would be distinguished one in achieving its objectives. Highlighting the features of the index, he said it would determine the quantum of cedit off take by the private sector, foreign direct investment, collection of sales tax and forex reserves position of the country. He informed newsmen that on fifth of every month, the details of the index would be announced and it would also forecast the future prospects of the exports and imports of the country. He said that the information to be available on the index ...

The Securities & Investment Institute (SII) is for the first time ever launching its suite of qualifications in Pakistan. The SII, the membership body for those who work in the securities and investment industry, has launched its Education Programme for the Capital Markets with the Karachi Stock Exchange (KSE) as part of the KSE's Education Programme for their Capital Market Participants. Taster training sessions were made available recently, run by one of the SII's Accredited Training Providers, the College of Accounting and Management Sciences (CAMS) in Karachi. The launch follows a series of roadshows and presentations to leading broking, investment houses, banks and universities which the SII has been offering over the past month with CAMS and its other training providers, USM and IFIS. The SII's accredited training providers in Pakistan have begun offering face-to-face training courses to the Capital Markets for the SII's Risk Management, Certificates in Securi...