The Financial Daily : 2020-09-05

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www. thefinanci­aldaily. com Simultaneo­usly Published from Karachi and Lahore ::::::::: TOP NEWS::::::::: Support to weak helps set up prosperous society: Masood Inside Pages: MESSI ENDORSES HIS STAY SITE seeks withdrawal of hike in K- E tariff Balochista­n reports 17th polio case of 2020 Inflation in July and August Dollar set for biggest weekly rise in 2- 1/ 2 months # 2: # 3: # 4: # 5: AT BARCELONA HOWEVER RAGES AT CLUB PRESIDENT See Page 8 Rs 20 Pages 8 KARACHI EDITION Muharram 16- 17 Vol# 14 Issue# 32- 33 SATURDAY- SUNDAY, SEPTEMBER 5- 6, 2020 PM to announce 50 projects for train- hit city, 6 mass- transit projects costing Rs447.45bn will be announced for the City, Rs300bn for KCR would be included in transforma­tion plan Economic Indicators Forex Reserves ( Inflation CPI% Exports Imports Trade Balance Current A/ C Remittance­s $ 19.843bn 8.74% $ 2.00bn $ 3.64bn $( 1.64) bn $ 0.42bn $ 2.77bn $ 0.107bn Rs 593bn $ 112.86bn Rs 24,038bn Rs 0.138bn - 7.74% 3.40% $ 1,561 210.43 28- Aug- 2020) ( Jul- 20 - Aug 20) ( Jul 20) ( Jul 20) PM Khan likely to visit Karachi today & announce Rs800 bn package for City ( Jul 20) ( Jul 20) ( Jul 19 - Jun 20) Foreign Investment ( Jul 19- Jun- 20) Revenue Foreign Debt Domestic Debt ( Jul 20 - Aug 20) ( Mar- 20) ( Jun- 20) Repatriate­d Profit ( Jul 20) LSM Growth GDP Growth FY19 Per Capita Income FY19 Population ( Jun- 20) Portfolio Investment SCRA( U. S $ in million) - 134.75 - 1.81 - 0.22 2,442 Yearly( Monthly( Daily July, 2020 up t o 2- Sep 2020) Sep, 2020 up to 2- Sep 2020) ( 2- Sep 2020) Total Portfolio Investment ( 28- Aug- 2 020) NCCPL ( U. S $ in million) FIPI ( 04- Sep- 2020) Local Companies ( 04- Sep- 2020) Banks / DFI ( 04- Sep- 2020) Mutual Funds ( 04- Sep- 2020) Insurance Companies ( 04- Sep- 2020) Local Investors ( 04- Sep- 2020) Other Organizati­on ( 04- Sep- 2020) - 2.78 - 1.87 2.09 0.30 - 1.02 1.95 1.13 PM refuses to accept Saleem Bajwa's resignatio­n as SAPM; South Punjab Secretaria­t to become operationa­l from Oct 15; PM for monthly PCP meeting for prompt plaints' resolution ISLAMABAD: Head of Office at Amnesty Internatio­nal for South Asia Omar Warraich called on Federal Minister for Human Rights Dr. Shireen Mazari, here Friday. - PID photo PMEX Commodity Index. Opening Closing Change % Change Volume ( Lots) 3,481 3,333 - 148.00 - 4.25 15,728 KARACHI: Prime Minister Imran Khan is likely to announce an Rs800 billion Karachi Transforma­tion Plan during his visit t o the r ain- hit city on Saturday ( today). According to media reports, the Prime Minister would announce 50 projects for the rain- hit city. Six mass- transit projects with the cost of Rs447.45 billion will be announced for t he city, while Rs300 billion for Karachi Circular Railway will also be included in the transforma­tion plan. The Chinese government would also provide Rs250 billion for the project while the Sindh govern- ment would also have a share of Rs50 billion in the project. Sewerage and solid waste man- agement projects are also included in the Karachi Punjab ACD recovers Rs5.22bn in graft case Medium flood seen in Indus at Guddu See# 8 Page7 Hub Dam may collapse due to water pressure, warns WAPDA Karachi transforma­tion needs up to $ 10bn: WB Global Indices Index Close Change KSE 100 42,023.00 Nikkei 225 23,205.43 Hang Seng 24,695.45 Sensex 30 38,357.18 ADX 4,552.20 SSE COMP. 3,355.37 FTSE 100 5,799.08 * Dow Jones 27,820.84 * Last Updated 20: 00 PS - 165.11 - 260.10 - 312.15 - 633.76 5.07 - 29.61 - 51.78 - 471.89 KARACHI: Country Director of World Bank ( WB) Najy Benhassine on Friday said that Karachi is the fifth most polluted and one of the dirtiest cities in South Asia and it would need at least $ 9 billion to $ 10 billion to transform it. The 10- year loan of US $ 10 billion for the city will help in solving transport, sewerage and water issues f aced by t he metropolis, he said, adding that the World Bank released a detailed report on infrastruc­ture in the city in 2018, raising alarm bells on the issues LAHORE: Anti- Corruption Department ( ACD) of Punjab has claimed recovery of a property worth Rs5.22 billion in a graft case on Friday. "The historic recovery was made in the shape of land from a Dera Ghazi Khan housing scheme," Director Commoditie­s See# 9 Page7 FM for deeper Pak- China coop in agricultur­e sector * 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 42.71 39.87 64.68 1,927.30 26.61 692 103,166 9,624 ISLAMABAD: The Water and Power Developmen­t Authority ( WAPDA) has warned that the walls of the Hub Dam, which is filled to its maximum capacity due to recent torrential rains, are close to being breached as massive pressure is being exerted on them. The dam has not been repaired for many years and if See# 5 Page7 K- E seeks further hike in electricit­y tariff See# 1 Page7 ISLAMABAD: Foreign Minister Shah Mahmood Qureshi has emphasized the need for deeper cooperatio­n between Pakistan and China in the agricultur­e sector. Talking to Chinese Ambassador Yao Jing here on Wednesday, the foreign minister said that agricultur­e is the mainstay of Pakistan's economy and employs a large part of the coun- try's productive labour force. The foreign minister said that there is a greater need to revamp and modernize the agricultur­e sector with China's cooperatio­n and unleash the Second Green Revolution in Pakistan. He said that China has introduced wide- ranging reforms in it s agricultur­e sector that has contribute­d significan­tly to its GDP and it is imperative for Pakistan to benefit from these experience­s. Welcoming the establishm­ent of Joint Working Group on Agricultur­e Cooperatio­n under CPEC, Qureshi emphasized that inclusion of agricultur­e in CPEC will promote industrial­ization and modernizat­ion of the agricultur­e economy. He thanked China for helping Pakistan fight Appointing Administra­tor our right GDR update Bilawal hopes PM's hefty relief package PKR/ Shares $. Price Symbols MCB OGDC UBL LUCK HUBC 248.54 152.43 265.10 376.94 209.03 3.00 9.20 6.40 9.10 31.54 ( 1 GDR= 2 Shares) KARACHI: K- Electric ( KE) has asked the National Electric Power Regulatory Authority ( NEPRA) for an increase in price of electricit­y, despite the fact that Economic Coordinati­on Committee ( ECC) permitted it this week to pass on fuel adjustment t o it s consumers. KE has asked NEPRA to allow it to charge Rs1.54 ( 1 GDR= 10 Shares) ( 1 GDR= 4 Shares) ( 1 GDR= 4 Shares) ( 1 GDR= 25 Shares) KARACHI: Pakistan People's Party Chairman Bilawal Bhutto Zardari hopes that Prime Minister Imran Khan will come to the province with rehabilita­tion and reconstruc­tion plans as well as hundreds of billions of rupees in his purse. Addressing a press conference here on Friday, the PPP chairman said, "We are looking forward to packages that the PM will announce to provide relief to the people of the province." He said that the Sindh chief minister has put forward Rs800 billion plan for Karachi. "If the amount we demand is allocated, we are sure that the most Money Market Update 7.09% 7.16% 7.26% 7.00% 7.45% 7.26% 7.27% 7.54% 7.54% 8.19% 8.45% 8.94% 9.91% 10.43% 11.00% 26- Aug- 2020 26- Aug- 2020 26- Aug- 2020 25- Jun- 2020 04- Sep- 2020 04- Sep- 2020 04- Sep- 2020 04- Sep- 2020 04- Sep- 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) See# 10 Page7 Market volatile as corona vaccines stay ambiguous See# 6 Page7 See# 2 Page7 Dollar slips as reserves increase to $ 19.84bn UN lauds Pakistan role in Afg peace process KSE- 100 Index sees mixed session closing higher by 165 points Ghulam Raza Rajani KARACHI: decreased by 31.60 to end at 29,748.90, KSE 30- Index declined by 113.16 points to conclude at 17,918.63 whereas KMI 30- Index dipped by 11.32 points to finish the day at 67,522.28 levels. According to Nabeel Haroon at Topline Securities KSE 100 index largely traded in negative zone during the trading session, which can be attributed to trickledow­n effect of internatio­nal markets where pressure was observed on news that COVID19 vaccine won't be available till November- 2020. Major contributi­on to the index came from SYS, HSACOL, ISL, JLICL and PSX as they contribute­d 84 points to the index, whereas HUBC, UBL, LUCK, TRG and ENGRO lost value to weigh down the index by 126 points. HASCOL was today` s volume leader with 73mn shares. The advance to decline ratio in the broader market remained in favor of bears. Out of 419 scrips, 180 scrips advanced, 224 declined while the value of Open Mkt Currency Rates Market witnessed a sheer volatile session as index fluctuated between plus and minus zones. Bearish trend in global stock exchanges due to vagueness when will the COVID- 19 vaccine would be introduced played the most important role keeping market choppy and end the day negatively. The benchmark KSE- 100 index closed lower by 165.11 point to close at 42,023.00 points. KSE All Share Index Symbols Buy ( Rs) Sell ( Rs) Australian $ 118.50 Canadian $ 125.50 Danish Krone 25.40 Euro 194.50 Hong Kong $ 21.80 Japanese Yen 1.580 Saudi Riyal 43.80 Singapore $ 119.50 Swedish Korona 18.40 Swiss Franc 177.05 U. A. E Dirham 44.90 UK Pound 219.00 US $ 165.65 119.50 128.50 25.70 197.00 22.05 1.610 44.30 121.50 18.65 177.95 45.70 223.00 167.15 ISLAMABAD: The UN top envoy to Afghanista­n has lauded the role of Pakistan in setting the stage for the peace process for Afghanista­n. Briefing the UN Security Council, UN Secretary- General's Special Representa­tive for Afghanista­n, Deborah Lyons welcomed the prospect of intr aAfghan talks, saying it is a historic moment. She called for a humanitari­an ceasefire in the country as the negotiatin­g teams of Afghanista­n and the Taliban prepare to sit in Doha for talks. Lyons highlighte­d urgent issues related to peace, human rights, and the humanitari­an situation, as well as other pressing issues, stating that a humanitari­an ceasefire was crucial to ensure that relief efforts can be conducted. "I want to emphasize again the importance of the humanitari­an ceasefire. This is a win- win for both parties to the peace talks and it is clearly a win for the Afghan people. We all need to be raising our voices to focus on the KARACHI: Pakistan rupee gained 27 paisas against the US dollar in the interbank on Friday. According to a tweet of the State Bank of Pakistan, the US dollar was opened at Rs166.04 and closed at Rs165.77. See# 7 Page7 See# 11 Page7 Weather Forecast Cities Max- Temp Min- Temp Islamabad Karachi Lahore Faisalabad Quetta Rawalpindi 28° C 34° C 33° C 32° C 30° C 29° C 22° C 28° C 26° C 26° C 12° C 23° C See# 3 Page7 SHC turns down plea against govt operation along Gujjar Nullah Inter- Bank Currency Rates Symbols Buying Selling TT Clean TT & OD Australian $ 120.49 122.18 Canadian $ 126.22 126.54 Danish Krone 26.38 26.45 Euro 196.33 196.86 Hong Kong $ 21.38 21.43 Japanese Yen 1.561 1.564 Saudi Riyal 44.17 44.28 Singapore $ 121.36 121.72 Swedish Korona 18.97 19.03 Swiss Franc 182.14 182.60 U. A. E Dirham 45.10 45.20 UK Pound 220.01 220.59 US $ 165.69 166.06 KARACHI: The Sindh High Court ( SHC) on Friday turned down a request by a Gulberg Town resident to halt the ongoing anti- encroachme­nt operation along Karachi's Gujjar Nullah. A two- judge bench of the high court directed the petitioner to satisfy it on the maintainab­ility of his petition and rejected his plea to grant a stay order against the operation until this case is decided. The petitioner stated before the bench that he has been residing in Gulberg Town's Tayyababad area for the past 50 years. He added he acquired the plot on which his house is built on from the Karachi Metropolit­an Corporatio­n ( KMC) on lease as per the laws. He said t he operation was launched three days back to clear all illegal dwellings along Gujjar Nullah with residents being asked through mosque loudspeake­rs to vacate illegally built houses. 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