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LCCI, Defence Export Promotion Organisation to organise exhibition

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Lahore: The Lahore Chamber of Commerce & Industry has invited Defence Export Promotion Organization (DEPO) to organize an exhibition in Lahore on the patron of IDEAS which would help highlight the potential of Pakistan’s defence production industry.

The idea was given at a meeting between Director General Defence Export Promotion Organization (DEPO) Major General Agha Masood Akram, LCCI Senior Vice President Almas Hyder and Vice President Nasir Saeed here at the Lahore Chamber of Commerce & Industry on Monday.

LCCI Executive Committee Members were also present on the occasion.

Major General Agha Masood Akram said that defence production industry of Pakistan has made momentous technological and innovative advancement and a special focus is being given on the export of defence products.

“Pakistan has not only the ability to fulfill its domestic defence requirements but also cater needs of the world,” he said. “International community is surprised over the achievements made by Pakistan in the defence field,” he added.

He informed the participants that as a national platform, DEPO is providing active support to our defence manufacturing/service sector and the export chain through facilitation, coordination and promotion for sustainable growth of defence exports.

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PSX: Bourse closes at 40,248 shedding 17 points!

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KARACHI: Continued political noise discouraged investors to the extent that bears forced the bourse close flattish on week’s last trading day.

Rs. 4.5b worth of 106.3m shares were traded today. Value of the shares of 162 companies plummeted, 152 augmented, while 14 remained stagnant.  

Power Generation & Distribution, Textile and Banking Sectors led the trading today with 17.8m, 10.8m and 8.7m shares respectively.

Today’s top five traders of shares were: K-Electric Ltd., 25.9m shares (+6.00pc); Azgard Nine: 9.5m shares (+3.23pc); Bank of Punjab, 5.3m shares (-0.72pc); Tri-Star Poly(R), 5.0m shares (-17.78pc); TRG Pak Ltd., 4.0m shares (-0.36pc).

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PSX: Bears enter the bourse today forcing it close at 40,266!

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KARACHI: Ongoing political noise, particularly the high-drama associated with Finance Minister’s medical leave, had allowed bears enter the bourse today coloring it red causing Benchmark KSE-100 Index shed 326 points.

Rs. 5.4b worth of 102m shares changed hands today. Value of the shares of 203 companies plummeted, 102 augmented while 11 remained stagnant.

Power Generation & Distribution, Technology and Refinery Sectors led the trading with 13.9m, 12.9m and 11.9m shares respectively.

Top five traders of shares today were: K-Electric Ltd., 9.1m shares (-3.57pc); TPL Trakker Ltd., 7.6m shares (+14.14pc); WorldCall Telecom, 7.5m shares (-0.66pc); Byco Petroleum, 7.2m shares (+3.73pc); TRG Pak Ltd., 4.9m shares (-1.89pc).

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Unconstitutional diversion of gas to other provinces incurred losses to Sindh: CM

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KARACHI: Maintaining that over 1000 mmcfd of gas out of 2,800 mmcfd produced by Sindh is diverted to other provinces, CM Murad Ali Shah said that was incurring heavy financial losses to the gas-producing province.

He was speaking at a session here today convened to prepare for CCI meeting: “If this 1,000 mmcfd gas of Sindh is not diverted to other provinces, Sindh can produce 5,000 megawatts of electricity from it at a rate of Rs8 per unit against Rs15 per unit which we are charged”, he held.

According to the CM Sindh Article 158 of the Constitution recognizes precedence of the right of utilization by the gas-producing province: “This right of our people has been denied”.  

Lamenting that thousands of villages in Sindh was deprived of gas and electricity he demanded the implementation of Article 158. He said that a resolution apropos this matter would be presented before SA.

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