vimarsana.com

Latest Breaking News On - தலை ஆஃப் ஆராய்ச்சி சாமிிுள்லாஹ் தாரிக் - Page 1 : vimarsana.com

PSX gives 38% return on investment

PSX gives 38% return on investment Market expected to maintain growth momentum in new fiscal year PHOTO: AFP KARACHI: Taking cue from the government’s business-friendly policies, low interest rate and economic turnaround in fiscal year 2021, the Pakistan Stock Exchange (PSX) exhibited a seven-year high performance as it gave a return of 38% on investment in shares in the year ended Wednesday. PSX’s benchmark KSE 100 Index increased 38% (or up by 12,934 points) during the year and closed at 47,356 points. In US dollar terms, the market offered a return of 46.22% in FY21. The market is expected to maintain the growth momentum in the new fiscal year 2022 starting on Thursday (today) following a cut of 2.5% in capital gains tax (CGT) on sale of shares to 12.5% with effect from July 1 compared to 15% since FY17.

Government raises Rs161b through PIBs

Government raises Rs161b through PIBs Auctions three to ten-year bonds to commercial banks KARACHI: The government on Wednesday raised financing of Rs161 billion through the auction of three to 10-year Pakistan Investment Bonds (PIBs) to commercial banks against the target of Rs125 billion, adding to domestic debt which is already at high levels. More importantly, banks - whose deposits grew 16% to Rs17.95 trillion in May compared to the same month of last year - offered three times the amount to buy PIBs at Rs376 billion compared to the government’s target to raise Rs125 billion through the auction. The banks higher participation suggests they have ample liquidity, as shown by growth in deposits, and are desperate to invest it even at a low rate of return.

Industries default on debt payments

Industries default on debt payments Default cases surged in 1QCY21 despite schemes to get loans deferred and rescheduled The NPLs to gross total loans had surged to 9.7% in January-June 2020 compared to 8.8% in the same half last year, according to the performance review. PHOTO: FILE KARACHI: Contrary to the government claim of rebound in industrial output, a number of industries in sectors including leading automobile and sugar have defaulted on paying off debt owed to banks in the quarter ended March 31, 2021. The default cases have surged in the quarter despite offer of scheme to banks’ clients to get their loans deferred and rescheduled for one year or for more time period to cope with the Covid-19 pandemic.

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.