The Financial Daily : 2020-08-25

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www. thefinanci­aldaily. com Simultaneo­usly Published from Karachi and Lahore ::::::::: TOP NEWS::::::::: Nawaz Sharif to go straight to jail on his return: Fawad Inside Pages: KP GOVT LIKELY TO IMPORT Karachi being ignored for decades: Zahid Chinese envoy opens Sino- Pak tree plantation drive Pakistan not recognizin­g Israel Gold and silver prices move higher on bargain hunting # 2: # 3: # 4: # 5: 150,000 TONNES OF WHEAT TO OVERCOME SHORTAGE See Page 8 Rs 20 Pages 8 KARACHI EDITION Muharram 5 Vol# 14 Issue# 22 TUESDAY, AUGUST 25, 2020 Meets a delegation of Chinese investors that called on him along with Chinese Ambassador to Pakistan Yao Jing here on Monday; Prime Minister Imran thanked for taking his personal interest in facilitati­ng China investors and business community in Pakistan Economic Indicators Forex Reserves ( Inflation CPI% Exports Imports Trade Balance Current A/ C Remittance­s $ 19.656bn 9.26% $ 2.00bn $ 3.64bn $( 1.64) bn $ 0.42bn $ 2.77bn $ 0.107bn Rs 300bn $ 109.95bn Rs 24,038bn Rs 1.825bn - 7.74% 3.40% $ 1,561 210.29 13- Aug- 2020) ( Jul- 20) ( Jul 20) ( Jul 20) ( Jul 20) ( Jul 20) Strengthen­ing business ties among Pak- China people top priority: PM ( 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) - 110.20 20.39 2.43 2,335 Yearly( Monthly( Daily July, 2020 up t o 21- Aug 2020) July, 2020 up to 21- Aug 2020) Just resolution of IOK dispute vital for South Asia peace: Khan; Imran and the IPU President exchange views on a host of issues; Country's economy is on the right track; In July 2020 the current A/ c balance swings upwards to a surplus of $ 424mn: PM tweets ( 21- Aug 2020) Total Portfolio Investment ( 13- Aug- 2 020) NCCPL ( U. S $ in million) FIPI ( 24- Aug- 2020) Local Companies ( 24- Aug- 2020) Banks / DFI ( 24- Aug- 2020) Mutual Funds ( 24- Aug- 2020) Insurance Companies ( 24- Aug- 2020) Local Investors ( 24- Aug- 2020) Other Organizati­on ( 24- Aug- 2020) - 0.16 - 0.16 - 1.17 - 0.64 1.11 0.32 - 0.83 ISLAMABAD: Urging t he Chinese business houses to establi sh their regional offices i n Pakistan, Prime Minister Imran Khan has said that strengthen­ing business to business ties among the people of the both countries is a foremost priority of the government. The Prime Minister was talking to a delegation of Chinese investors along with Chinese Ambassador to Pakistan Yao Jing who called on him here on Monday. Welcoming the representa­tives of leading Chinese companies, the Prime Minister said that Pakistan accords great i mportance to strengthen­ing its relations with China. He assured the Chinese investors that his government will accord highest priority to the provision of every possible facilitati­on to them. The Prime Minister reiterated that Pakistan and China have shared destiny. The Chinese investors thanked the Prime Minister for his personal interest in facilitati­ng Chinese investors and the business community in Pakistan. They expressed satisfacti­on over business friendly policies of the present government especially in improving ease of doing business. Speaking on the occasion, the Chinese ambassador said that various reforms introduced at policy and implementa­tion level have enhanced confidence of the Chinese business community and Pakistan is being looked as a major partner in developmen­t in the post COVID- 19 environmen­t. Meanwhile, Prime Ministe r Imran Khan has underscore­d the importance of just resolution of Indian Occupied Kashmir ( IOK) dispute for durable peace and stability in South Asia. The Prime Minister was talking to the President of the InterParli­amentary Union Gabriela Cuevas Barron who along with her delegation called on him here on Monday. The Prime Minister and the IPU President exchanged views on a host of issues including inter- parliament­ary cooperatio­n, COVID- 19 pandemic and regional peace and security. The Prime Minister appreciate­d Gabriela Barron's contributi­on as IPU president as well as IPU's role in advancemen­t of parliament­ary diplomacy. He highlighte­d that DAWATOI ( North Waziristan): Chief of the Army Staff General Qamar Javed Bajwa interactin­g with troops during his visit to Dawatoi sector, North Waziristan, Monday. - ISPR photo PMEX Commodity Index. Opening Closing Change % Change Volume ( Lots) 3,481 3,333 - 148.00 - 4.25 15,728 President for IPU role to protect rights of Kashmiris Visits troops along Pak- Afg border Pakistan- Afghan border fencing to solidify security and peace: COAS Global Indices Index Close Change KSE 100 39,802.60 Nikkei 225 22,985.51 Hang Seng 25,551.58 Sensex 30 38,799.08 ADX 4,569.91 SSE COMP. 3,385.64 FTSE 100 6,104.73 * Dow Jones 28,179.19 * Last Updated 20: 00 PS 181.01 65.21 437.74 364.36 26.95 4.96 102.84 248.86 ISLAMABAD: President Dr Arif Alvi has urged the world community to take notice of I ndian oppression in Indian Occupied Kashmir ( IOK). See# 9 Page7 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 44.87 42.52 65.72 1,940.50 26.86 634 105,640 9,195 RAWALPINDI: Chief of Army Staff ( COAS), General Qamar Javed Bajwa has said that Pakistan is committed to peace and stability, and is playing its part by solidifyin­g border security and capacity enhancemen­t of lawenforce­ment agencies ( LEAs). The Chief of Army Staff said this while interactin­g with troops during his visit to Dawatoi sector, North Waziristan, where consoli- dation operations along PakAfghan border are underway, said Inter- Services Public Relations ( ISPR) on Monday. The COAS appreciate­d t he troops' remarkable operationa­l performanc­e and high state of morale. He said, "We are committed to peace and stability." Appreciati­ng the tribal people for their unflinchin­g Banks disburse Rs1,215bn to agricultur­e sector in FY20 See# 6 Page7 Current account records surplus of $ 424 million in July this year, says SBP 94.4pc of corona hit recover; 9 more die GDR update PKR/ Shares $. Price Symbols MCB OGDC UBL LUCK HUBC See# 1 Page7 252.11 154.62 268.91 382.36 212.04 3.00 9.20 6.40 9.10 31.54 ( 1 GDR= 2 Shares) NA passes bills to fulfil FATF needs ( 1 GDR= 10 Shares) KARACHI: The balance of payment of the country registered current account surplus of $ 424 million in July 2020 i. e. 1.9 percent of the GDP, according to statistics released by State Bank of Pakistan ( SBP) on Monday, says TLTP. In a series of tweets, the central bank said, "Pakistan's current account balance swung into a surplus of $ 424 million in July 2020 after posting a deficit of $ 100 million in June. This is the fourth monthly surplus since last October, and a significan­t improvemen­t on the deficit of $ 613 million in the same month last year." The statistics revealed that the current account surplus stood at $ 424 million in July 2020 as compared with the current account deficit of $ 613 million in the same month of the last year. The current account surplus may be attributed to record inflows of workers' remittance­s in July 2020. In the month under review the workers' remittance­s rose to $ 2.77 billion. This is the highest ever level of remittance­s in a single month in Pakistan, according to the SBP. The SBP said in another tweet, "Strong turnaround is due to a continued recovery in exports and record- high ( 1 GDR= 4 Shares) ISLAMABAD: Almost 94.4 percent patients have recovered from coronaviru­s in the country, according to the latest statistics issued by National Command and Operation Centre ( NCOC) on Monday. The tally of recoveries ( 1 GDR= 4 Shares) ( 1 GDR= 25 Shares) Money Market Update 6.98% 7.14% 7.15% 7.00% 7.36% 7.13% 7.18% 7.46% 7.48% 8.19% 8.45% 8.94% 9.91% 10.43% 11.00% 12- Aug- 2020 12- Aug- 2020 12- Aug- 2020 25- Jun- 2020 24- Aug- 2020 24- Aug- 2020 24- Aug- 2020 24- Aug- 2020 24- Aug- 2020 19- Aug- 2020 19- Aug- 2020 19- Aug- 2020 19- Aug- 2020 19- Aug- 2020 19- Aug- 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) ISLAMABAD: The National Assembly Monday passed four bills aimed at fulfilling the obligation­s of the Financial Action Task Force to bring the country out of FATF's grey list. Speaking on Babar Awan said that they would not tolerate any hindrance over legislatio­n on matters pertaining to the national interest. He further offered the opposition to sit together to bring more See# 7 Page7 PTI moves SHC against creation of Keamari dist See# 10 Page7 See# 2 Page7 the occasion, Market positive as current account turns in surplus Afg Taliban arrive to discuss peace process Open Mkt Currency Rates Symbols Buy ( Rs) Sell ( Rs) Australian $ 119.00 Canadian $ 126.00 Danish Krone 25.80 Euro 198.00 Hong Kong $ 22.20 Japanese Yen 1.590 Saudi Riyal 44.40 Singapore $ 121.50 Swedish Korona 18.90 Swiss Franc 180.75 U. A. E Dirham 46.00 UK Pound 221.00 US $ 168.10 122.00 129.00 26.10 201.00 22.45 1.620 45.00 123.50 19.15 181.65 46.50 226.00 168.70 ISLAMABAD: A delegation of Afghan Taliban arrived here on Monday to discuss the Afghanista­n peace process with senior Pakistani officials. The delegation reached the capital from Qatar at the invitation of the Ministry of Foreign Affairs to deliberate t he Afghan peace process and other related issues. Zahid Hafeez Chaudhry, a spokespers­on f or the Foreign Office, had confirmed the other day that an Afghan Taliban delegation will be visiting KARACHI: Pakistan Tehreeke- Insaf ( PTI) MNA Aamir Liaquat Hussain on Monday moved a writ petition in the Sindh High Court ( SHC) challengin­g the Sindh government's decision of carving a seventh district out of Karachi. Aamir Liaquat Hussain stated in his petition that the KSE- 100 Index volatile session closes higher by 181 points Ghulam Raza Rajani KARACHI: the day in green zone. Surplus figures in current account deficit became an important reason for positive closure of market. The benchmark KSE- 100 index closed higher by 181.01 point to close at 39,802.68 points. KSE All Share Index increased by 72.25 to end at 27,930.89, KSE 30- Index improved by 52.52 points to conclude at 17,229.29 whereas KMI 30- Index enhanced by 277.84 points to finish t he day at 64,002.61 levels. Nabeel Haroon at Topline Securities said Pakistan Market witnessed volatile session as remained in flux. Market started positively seeing an initial of increase of 150 plus points. Than market took uturn seeing decline of 300 points. In later hours market again gained momentum ending See# 3 Page7 No change in Saudi stance on Kashmir; CPEC is to gather pace in coming days See# 8 Page7 See# 11 Page7 Weather Forecast Political resistance movement gaining might in IOK: FM Cities Max- Temp Min- Temp Islamabad Karachi Lahore Faisalabad Quetta Rawalpindi 34° C 34° C 36° C 39° C 34° C 34° C 25° C 29° C 27° C 27° C 17° C 24° C Inter- Bank Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 120.81 121.13 Canadian $ 127.27 127.61 Danish Krone 26.76 26.82 Euro 199.31 199.82 Hong Kong $ 21.70 21.75 Japanese Yen 1.588 1.591 Saudi Riyal 44.84 44.95 Singapore $ 122.81 123.11 Swedish Korona 19.32 19.37 Swiss Franc 183.86 184.40 U. A. E Dirham 45.76 45.86 UK Pound 220.40 220.95 US $ 168.07 168.45 Indian actions in IOK damage regional peace ISLAMABAD: Foreign Minister Shah Mahmood Qureshi has said that Kashmiris' struggle for right to self- determinat­ion has taken a new turn with a political resistance movement gaining strength in Indian Occupied Kashmir ( IOK). Addressing a press conference here on Monday, the foreign minister pointed out that six political parties of IOK have rejected the Indian steps of August 5, 2019. He said these political parties have forged an alliance, vowing to wage a joint struggle to ISLAMABAD: Foreign Minister Shah Mahmood Qureshi has said that Indian Hindutva i deology and unilateral illegal actions in Indian Occupied Kashmir ( IOK) pose a threat to the entire region. The foreign minister expressed these views while talking to the President of the Subscribe now Tel: 92- 21- 35311893- 6 Fax: 92- 21- 35388427 See# 4 Page7 See# 5 Page7 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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