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Business

Power consumers to get a refund of Rs1.96 per unit this month

ISLAMABAD: (Web Desk) The National Electric Power Regulatory Authority (Nepra) on Thursday directed all distribution companies of the Water and Power Development Authority (Wapda) to refund Rs1.96 per unit to consumers this month, after overcharging them in April. According to a notification, the regulator did not accept a petition by …

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PM orders audit of circular debt claims

ISLAMABAD: (Web Desk) Prime Minister Nawaz Sharif on Tuesday ordered a special audit of fresh circular debt claims of Rs. 480 billion and third-party analysis of the power demand-and-supply situation on the basis of projects that are coming up for commercial operations. While presiding over a meeting of the cabinet …

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Brokerages brace for surge in foreign inflows

KARACHI: (Web Desk) With only two days left before Pakistan’s formal inclusion in the MSCI Emerging Market Index, the Pakistan Stock Exchange (PSX) and major brokerages are bracing for what they see as a large inflow of foreign funds. The gross amount of inflows is likely to be five to …

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Banks react to the budget

ISLAMABAD: (Web Desk) The federal budget proposal and spike in development spending for the next fiscal year have promising elements for banks and other financial companies. But bankers term the continuation of the 4pc super-tax for banks as ‘shocking’. Since the super-tax is lower at 3pc for non-banking companies and …

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Economic Survey 2016-17: Tax exemptions contain surprises

Some targets were missed, but after a decade-long slump growth is finally returning to Pakistan’s economy. Much of the growth has come from a spurt in services, and a partial rebound in agriculture. A boom in consumption has swelled imports while exports continue to sag. The survey paints a mixed …

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Pakistan’s ‘Emerging Market’ status: What comes next?

DILAWAR HUSSAIN When they wish to invest, fund managers across the globe look at the Morgan Stanley Composite Index. Since the index is widely recognised as the leading provider of investment decision support tools worldwide, capital markets must conform to its standards. Pakistan was part of the MSCI Emerging Market …

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Growth rate hits nine-year high of 5.28pc

ISLAMABAD: (Web Desk) The government on Wednesday announced it is going to miss the economic growth target for 2016-17 because of an underperformance by the industrial and services sectors. This will be the fourth year in a row that the PML-N government has missed the annual economic growth rate target. …

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MSCI upgrades Pakistan to emerging market index

KARACHI: (Web Desk) Investors’ wait was finally over around 3am on Tuesday when MSCI announced the upgrade of Pakistan’s status to the emerging market (EM) from the frontier market (FM) in its semi-annual review. The reclassification will be effective from June 1. The excitement over the reclassification has been built …

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Market dips as MSCI reclassifies PSX to Emerging Markets Index

ISLAMABAD: (Web Desk) American provider of stock market indexes and analysis tools, MSCI has confirmed that the Pakistan Stock Exchange (PSX) has been reclassified from Frontier Markets to Emerging Markets in its semi-annual index review earlier on Tuesday. However, in the first 90 minutes of trading, the benchmark KSE-100 index …

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