MAJOR NEWS TODAY: 12-feb-2014

Sanie Khan

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1. China direct investment USD22bn plan runs into trouble

2. Pakistan, ADB to sign USD900mn accord today for Jamshoro coal-fired power project

3. Pakistan receives USD352mn on account of CSF from US

4. Pakistan repays IMF USD147mn

5. Remittances grow 10.08%YoY to USD9.0bn in 7MFY14

6. Rice exporters gear up to capture Indian share, as price of Indian rice rise

7. Withdrawal of tax exemptions/concessions to help bridge fiscal deficit by Rs520bn

8. Finance Minister Dar expected to exempt cost of electricity from minimum tax for further 5 years

9. NEPRA may direct Karachi Electric (KEL) to refund Rs1.392bn to its consumers

10. Ministry of Finance accused of delaying financial arrangements for the import of urea

11. OGRA seeks ECC approval afresh prior to its submission of its summary to the CCI for monitoring/establishing prices of all refined oil products

12. Auto sales up 7%YoY in 7MFY14; up 9%YoY and 57%MoM in January 2014

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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