The Financial Daily : 2020-08-21

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www. thefinanci­aldaily. com Simultaneo­usly Published from Karachi and Lahore ::::::::: TOP NEWS::::::::: Hafeez seeks technical input from WB on the pension reforms Rashid Minhas's Shahadat Observed IRAN DETAINS A UAE SHIP AMID RISING TENSIONS BETWEEN TWO COUNTRIES See Page 3 See Page 8 Rs 20 Pages 8 KARACHI EDITION FRIDAY, AUGUST 21, 2020 MUHARRAM 01 Vol# 14 Issue# 18 Providing health insurance cover of Rs1mn to all the families; Role of country's banks in constructi­on sector satisfies Khan Economic Indicators Forex Reserves ( Inflation CPI% Exports Imports Trade Balance Current A/ C Remittance­s $ 19.563bn 9.26% $ 2.00bn $ 3.64bn $( 1.64) bn $( 2.97) bn $ 23.12bn $ 2.038bn Rs 300bn $ 109.95bn Rs 24,038bn Rs 1.825bn - 7.74% 3.40% $ 1,561 210.18 30- Jul- 2020) ( Jul- 20) Imran launches Sehat Insaf Card for entire Khyber- Pakhtunkhw­a ( Jul 20) ( Jul 20) ( Jul 20) ( Jul 19- Jun 20) ( Jul 19 - Jun 20) Foreign Investment ( Jul 19- Jun- 20) Revenue Foreign Debt Domestic Debt ( Jul 20) ( Mar- 20) ( May- 20) Repatriate­d Profit ( Jul 19- Jun 20) LSM Growth GDP Growth FY19 Per Capita Income FY19 Population ( Jun- 20) Portfolio Investment SCRA( U. S $ in million) - 112.72 17.87 - 1.45 2,400 Yearly( Monthly( Daily Prime Minister approves the new parliament­ary year calendar; Endorses Roshan Digital A/ c launching for overseas Pakistanis July, 2020 up t o 12- Aug 2020) July, 2020 up to 12- Aug 2020) ( 12- Aug 2020) Total Portfolio Investment ISLAMABAD: Prime Minister Imran Khan on Thursday launched Sehat Insaf Card for the entire Khyber Pakhtunkhw­a province for providing health insurance cover of a million rupees to all the families. The Prime Minister congratula­ted the provincial government over t he inaugurati­on of the scheme. "The major reason for people living below the poverty line is il lness," t he Premier said, explaining that due to a single person's illness in a family, the entire budget of a family i s affected. The Prime Minister said that the government is trying to replicate and enforce the model in Punjab. He expressed hope that other provinces will also follow KP's lead and introduce health insurance. "The people in Sindh will also demand that they get health insurance," he said, adding that the hospitals will also be pressured to perform better due to the health card. He said that the health card scheme will ensure that facilities will be within the reach of smaller cities and villages. "It should be ensured that everyone has a health card so a database can be formed. With the database, health expenditur­e can be monitored." It is pertinent to mention here that Khyber Pakhtunkhw­a is the first province where every family is being provided a Sehat Insaf Card. The family having the card will be able to get free medical treatment worth one million rupees at government and private hospitals. Earlier, forty percent population of the province had been benefiting from Sehat Insaf Card. In view of the wide public appreciati­on of Sehat Insaf Card, Prime Minister Imran Khan has directed to widen the scope of the programme so that every family benefits from this facility. Meanwhile, Prime Ministe r Imran Khan has declared the constructi­on sector a guarantor for promotion of the economy. The Prime Minister expressed these views while chairing a meeting of the National Coordinati­on Committee for Housing, Constructi­on and Developmen­t here on Thursday. The Prime Minister expressed satisfacti­on over the active role being played by the banks in the constructi­on sector. He said the government has addressed all the reservatio­ns of the banks. He said t he State Bank of Pakistan has been empowered for immediate provision of subsidy announced by the government for the constructi­on of houses. Foreclosur­e laws are also effectivel­y being pursued. ( 7- Aug- 20 20) NCCPL ( U. S $ in million) ISLAMABAD: President Dr. Arif Alvi addressing the joint session of the Parliament, here Thursday. - PID photo FIPI ( 13- Aug- 2020) Local Companies ( 13- Aug- 2020) Banks / DFI ( 13- Aug- 2020) Mutual Funds ( 13- Aug- 2020) Insurance Companies ( 13- Aug- 2020) Local Investors ( 13- Aug- 2020) Other Organizati­on ( 13- Aug- 2020) 2.00 - 1.26 - 1.32 1.08 2.80 - 1.01 0.40 Lauds parliament's role in FATF legislatio­n COAS, Jordan envoy discuss cooperatio­n in defence All institutio­ns on the same page for uplift: President PMEX Commodity Index. Opening Closing Change % Change Volume ( Lots) 3,481 3,333 - 148.00 - 4.25 15,728 RAWALPINDI: Major General Ibrahim Yali Muhammad ( Osta Almadani), Ambassador of the Hashemite Kingdom of Jordan, called on Chief of Army Staff ( COAS) General Qamar Javed Bajwa on Thursday. According to Inter- Services Public Relations ( ISPR), matters of mutual interest including strengthen­ing of bilateral security and defence cooperatio­n between the two brotherly countr ies were discussed Global Indices ISLAMABAD: President Dr Arif Alvi has said all the institutio­ns, including the parliament, executive, j udiciary, armed forces and media, are on the same page for socioecono­mic justice, corruption eliminatio­n and to remove all impediment­s in the way of national developmen­t. Addressing the joint sitting of the Parliament on Thursday at the start of new parliament­ary year, the President said that Pakistan has actually reached the tipping point to move forward on the path of developmen­t. He said today Pakistan is seeing a bright future like never before. He urged the youth to pursue their religious, cultural, and social values to serve the nation. The President was appreciati­ve of the FATF related bills recently passed by the Parliament, saying that the House should continue to perform its functions of legislatio­n in the best interest of the nation. In his all- enco mpassing speech, Dr Arif Alvi said despite pressure of imposing complete lockdown, t he government opted for smart lockdown policy, which helped protect lives and livelihood­s. This visionary and farsighted approach deserves to be appreciate­d. He Index Close Change KSE 100 40,290.74 Nikkei 225 23,249.61 Hang Seng 25,230.67 Sensex 30 38,310.49 ADX 4,386.67 SSE COMP. 3,320.73 FTSE 100 6,197.23 * Dow Jones 27,903.00 * Last Updated 20: 00 PS - 182.44 405.65 - 13.35 - 59.14 27.09 1.46 - 82.59 - 73.84 See # 1 Page 7 Commoditie­s * Crude Oil ( brent)$/ bbl * Crude Oil ( WTI)$/ bbl * Cotton $/ lb * Gold $/ ozs * Silver $/ ozs Malaysian Palm $ Gold 24K per 10 Grams KHI Cotton 40Kg PKR * Last Updated 20: 00 PST 45.31 42.62 62.88 1,956.70 26.94 660 104,731 9,088 Depts reduced to 324 from 440, says Dr. Ishrat Hussain All steps taken to promote exports, cut CAD: Razak See # 5 Page 7 Mir Hasil Bizenjo passes away See # 3 page 7 GDR update ISLAMABAD: Adviser to the Prime Minister on Commerce, Abdul Razak Dawood has said that the government has taken all necessary steps for promotion of exports which has helped reduce current account deficit ( CAT) to $ 3 billion from $ 20 billion. The advisor said this while addressing a news conference along with other cabinet members about two- year performanc­e of the government here on Thursday. Dawood said that the country received the record remittance­s in the month of July this year which is a good news for the economy. He said that the government formulated a compre- hensive export promotion strategy and expressed the confidence that the positive trend witnessed in July will continue i n the months ahead. He said that the government has announced incentives for 5 major industries. He said that ease of doing business, made in Cell phone imports up 89pc in July PKR/ Shares $. Price Symbols MCB OGDC UBL LUCK HUBC FDI goes 60pc up up y- o- y in July 251.72 154.39 268.50 381.77 211.71 3.00 9.20 6.40 9.10 31.54 KARACHI: National Party President Senator Mir Hasil Khan Bizenjo passed away here on Thursday after a protracted illness. He had been admitted to Aga Khan Hospital in a critical condition in the morning. The veteran polit ic ian had reportedly been battling lung cancer for t he past few months. Senator Bizenjo served as the minister for maritime affairs i n Shahid Khaqan Abbasi's cabinet from 2017 to 2018. He was considered a ( 1 GDR= 2 Shares) ( 1 GDR= 10 Shares) ( 1 GDR= 4 Shares) ( 1 GDR= 4 Shares) ( 1 GDR= 25 Shares) Money Market Update 6.98% 7.14% 7.15% 7.00% 7.35% 7.16% 7.23% 7.47% 7.47% 7.24% 8.21% 8.86% 9.70% 10.34% 11.00% 12- Aug- 2020 12- Aug- 2020 12- Aug- 2020 25- Jun- 2020 13- Aug- 2020 13- Aug- 2020 13- Aug- 2020 13- Aug- 2020 13- Aug- 2020 22- Jul- 2020 22- Jul- 2020 22- Jul- 2020 22- Jul- 2020 22- Jul- 2020 22- Jul- 2020 T- Bills ( 3 Mths) T- Bills ( 6 Mths) T- Bills ( 12 Mths) Policy Rate Kibor ( 1 Mth) Kibor ( 3 Mths) Kibor ( 6 Mths) Kibor ( 9 Mths) Kibor ( 1 Yr) P. I. B ( 3 Yrs) P. I. B ( 5 Yrs) P. I. B ( 10 Yrs) P. I. B ( 15 Yrs) P. I. B ( 20 Yrs) P. I. B ( 30 Yrs) See # 2 Page 7 ISLAMABAD: The Foreign Direct Investment ( FDI) i n Pakistan reached up to $ 114.3 million during July 2020, as compared to the net inflow of $ 71.1 million in the same time period last year, showing an increase of 60.8 percent. St ate Bank of Pakistan's ( SBP) latest data shows that foreign private investment of $ 41.1 million was made in July 2020 as compared to $ 105 million made in the same period last year. While t his shows an almost 61 percent decline, the foreign investment in the public sector offset this as it stood at $ 66.1million in July 2020 as compared to zero public sector FDI in July last year. China was the biggest FDI investor with $ 27.1 million in July 2020, as compared to $ 17.4 million invested in the same period last year, as per SBP reports. The second highest investor was Malta with net FDI of $ 18.5 million during July, as compared with a net investment of $ 18.5 million that Malta made in the same period in 2019. Netherland­s followed as See # 6 Page 7 Open Mkt Currency Rates New Islamic year begins as Muharram moon sighted Symbols Buy ( Rs) Sell ( Rs) Australian $ 119.50 Canadian $ 124.00 Danish Krone 25.80 Euro 196.00 Hong Kong $ 22.20 Japanese Yen 1.580 Saudi Riyal 45.00 Singapore $ 120.00 Swedish Korona 18.85 Swiss Franc 181.00 U. A. E Dirham 46.00 UK Pound 218.00 US $ 167.90 123.00 128.00 26.10 199.00 22.45 1.610 45.50 123.00 19.10 181.90 46.50 224.00 168.50 See # 4 Page 7 No change in the position on Palestine; Indian envoy summoned on violations No rift in Pakistan, Saudi ties, says FO KARACHI: Chairman Central Ruet- e- Hilal Committee Mufti Muneeb- urRehman on Thursday announced t hat the Muharram- ul- Haram moon has been sighted and the Youm- e- Ashur would be observed on August 30. The holy month of Muharram will begin on August 21, Mufti Muneeb said after he chaired a meeting in Salim Malik VS Rashid Latif & Pak, ENG 3rd Series Weather Forecast ISLAMABAD: Foreign Office Spokespers­on Zahid Hafeez Chaudhry has said that there is no rift in the relations between Pakistan and Saudi Arabia. Addressing the weekly news briefing here on Thursday, he said Pakistan and Saudi Arabia have always enjoyed unique relations, deep rooted in religion, culture and social ties. The spokespers­on said Prime Minister Imran Khan's remarks on the subject in his recent media engagement and Chief of Army Staff General Qamar Javed Bajwa's just concluded Cities Max- Temp Min- Temp Islamabad Karachi Lahore Faisalabad Quetta Rawalpindi 35° C 35° C 36° C 39° C 31° C 36° C 26° C 28° C 28° C 29° C 21° C 27° C Inter- Bank Currency Rates Symbols Buying Selling TT Clean TT & OD See # 7 Page 7 See # 8 Page 7 Australian $ 120.19 120.51 Canadian $ 126.67 127.01 Danish Krone 26.65 26.71 Euro 198.46 198.95 Hong Kong $ 21.65 21.70 Japanese Yen 1.573 1.577 Saudi Riyal 44.75 44.86 Singapore $ 122.39 122.72 Swedish Korona 19.34 19.39 Swiss Franc 184.51 184.97 U. A. E Dirham 45.69 45.78 UK Pound 219.27 219.86 US $ 167.81 168.19 Below par FDI data forces market drop below 40K KSE- 100 Index sees negative session closing lower by 286 points Ghulam Raza Rajani in negative start of market. Decline of 35 per cent in FDI MOM data was another reason keeping market in red zone. The benchmark KSE- 100 index closed lower by 285.56 point to close at 39,868.55 points. KSE All Share Index decreased by 146.82 to end at 28,075.02, KSE 30- Index declined by 139.30 points to conclude at 17,283.47 whereas KMI 30- Index dipped by KARACHI: Market witnessed an overall depressive session closing below 40K mark. Below par result being posted MCB played an important role Subscribe now Tel: 92- 21- 35311893- 6 Fax: 92- 21- 35388427 See # 9 Page 7 Email: edito r@ th efinancial­daily. com PRINTED AND DISTRIBUTE­D BY PRESSREADE­R PressReade­r. com + 1 604 278 4604 O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y COPYRIGHT AND PROTECTED BY APPLICABLE LAW

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