Rs 21.32b released for textiles, non textiles sectors: Razak

ISLAMABAD - PM’s Adviser on Commerce and Investment, Abdul Razak Dawood on Friday said that that Drawback of Local Taxes and Levies (DLTL) refunds of Rs 20.5 billion for textiles sector and Rs 0.828 billion for non textiles sector have been released by the Ministry of Commerce. In a tweet, he hoped, “Our business community will now use this liquidity to look after their workers during this challenging time”. According to press release issued by the Ministry of Commerce, the ministry has decided for regularly interacting with the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and other Chambers of Commerce and Industries to proactively engage and solve the problems faced by trade and industry during COVID-19 crisis. In this regard, four meetings have already been held so far on 31st March, 1st April, 2nd April and 8th April, 2020. President of different chambers of the country including FPCCI, President of Karachi Chamber of Commerce and Industry, President of Lahore Chamber of Commerce and Industry, President of Gujranwala Chamber of Commerce and Industry, President of Faisalabad Chamber of Commerce and Industry, President of Islamabad Chamber of Commerce and Industry and Chairman EDB were engaged with the ministry in this regard.

Stock market gains 195 points

 

ISLAMABAD - The Pakistan Stock Exchange (PSX) Friday continued with bullish trend as KSE 100-index closed at 32,033.21 points as compared to 31,837.30 points on the last working day with the positive change of 195.91 points (0.62%). A total of 127,065,527 shares were traded compared to the trade of 216,513,232  shares during the previous day, whereas the value of shares traded during the day stood at Rs 5.024 billion as compared to Rs 8.547 billion during last trading day. As many as 328 companies transacted shares in the stock market on Thursday, out of which 192 recorded gain and 118 sustained losses whereas the share price of 18 companies remained unchanged. The three top traded companies were Hascol Petrol with a volume of 11,938,500 shares and price per share of Rs 15.50, K-Electric Ltd with a volume of 10,549,500 price per share of Rs 2.88 and Maple Leaf with a volume of 10,163,000 and price per share of Rs 23.83. Rafhan Maize recorded maximum increase of Rs 160.81 per share, closing at Rs 6550 while Philip Morris Pak was runner up with the increase of Rs 61.05 per share, closing at Rs 1960.

Bhanero Tex recorded maximum decrease of Rs 49 per share, closing at Rs 641 whereas prices of Pak tobacco decreased by Rs 42.45 per share closing at Rs 1536.8.