IGI Securities Limited – Investor Kit

Karachi, September 12, 2017 (PPI-OT): Top News

The country’s trade deficit widened 33.52 percent to $6.29 billion in the first two months of the current fiscal year as growing imports damped the impact of revival in exports, official data showed on Monday. https://www.thenews.com.pk/print/229220-Trade-deficit-widens-to-629-billion-in-July-August

An inter-ministerial committee headed by Commerce Minister on Monday approved export of 1.5 million tons of sugar in three phases with a subsidy of Rs 10.70 per kg, well-informed sources told Business Recorder. How ever, the volume of subsidy will linked with international trend, the sources said adding as international prices would reach at $500 per ton subsidy would be withdrawn. Sugar millers would be bound to clear all payments of growers. Provincial Cane Commissioner w ill give a certificate that mills have cleared growers’ payments. http://fp.brecorder.com/2017/09/20170912216781/

A three-member delegation of Asian Infrastructure Investment Bank (AIIB) led by Vice President, D J Pandian called on Finance Minister, Senator Mohammad Ishaq Dar here on Monday. The delegation it may be mentioned is visiting Pakistan currently to explore opportunities for investment in different areas. Senior officials of the Ministry of Finance attended the meeting. http://fp.brecorder.com/2017/09/20170912216882/

The National Electric Power Regulatory Authority (NEPRA) will induct a private consultant to determine coal-based electricity tariff for consumers on a monthly basis as new coal power projects start coming into production. Therefore, the consultant to be appointed would be required to prepare a manual for periodic fuel price adjustment to verify the coal price of each cargo delivered to these power plants and independently recommend a final coal price of each coal cargo shipment received during the month. https://www.dawn.com/news/1357018/private-consultant-to-determine-monthly-coal-based-power-tariff

A division bench of the Lahore High Court on Monday scrapped relocation of three sugar mills, owned by Sharif family, from central Punjab to south Punjab, declaring ‘shifting illegal’ and without lawful authority. Announcing 38-page judgment on intra court appeals and petitions against single bench order, the bench led by Chief Justice Mansoor Ali Shah declared the relocation of Haseeb Waqas Sugar Mills (HWSM), Ittefaq Sugar Mills (ISML), and Chaudhry Sugar Mills (CSML). https://www.thenews.com.pk/print/229345-Sugar-mills-relocation-illegal-declares-LHC


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