MAJOR NEWS TODAY: 11-feb-2014

MAJOR NEWS TODAY: 11-feb-2014

1. CCI decides to privatize DISCOs, GENCOs; approve issuance of guarantee for Thar coal; decide to expedite transfer of properties to realize USD800mn from Etisalat. However source deduction of electricity arrears from provinces remain unresolved

2. IMF says it is not imposing privatization agenda on Pakistan

3. IMF promised end to power subsidy in next budget

4. Pakistan assures IMF that auction of government papers to help meet government borrowing target from Central Bank

5. SECP asks equity markets to freeze banned outfits’ funds

6. KSE MD says no evidence of illegal data leakage at KSE

7. Sources says FBR has launched a comprehensive audit of withholding tax deducted and deposited with NCCPL on the sale of securities

8. FBR official says revenue body not to ask source of investment of shares purchased till June 30, 2014 provided the investment remains untouched for another 120 days

9. Government shifts numbers to show impressive performance in 1HFY14

10. Government says IP pipeline still not shelved

11. Karkey submits USD2.1bn damages against the government of Pakistan

12. Pakistan looks for USD10bn oil credit facility; ask Saudi Arabia and Kuwait to extend the timeframe for deferred payments

13. 27% growth needed in remaining four months to achieve FY14 tax target

14. NPLs in 2013 down by Rs27bn

15. Auto industry not prepared for phasing out negative list as government set to grant NDMA status to India from Feb 15   

16. Ministry signs 12 petroleum accords with OGDC and PPL for exploration of hydrocarbon reserves

17. Pak Suzuki (PSMC) may halt Liana production