KARACHI: Karachi Chamber of Commerce & Industry (KCC&I) has informed the tenants that the decision in a false and bogus case about the ownership of KCC&I’s Building given against it by Chairman Evacuee Property Trust Board (ETPB) was not final.
President KCCI&I Muffasar Malik held that ETPB could not compel for compliance of the Chairman’s decision until and unless specific directions are passed to KCC&I by the competent court of law.
He pointed out that KCC&I had challenged the maintainability of Evacuee Reference before Hon’ble High Court of Sindh at Karachi through Constitution Petition No.D-2464/2017 and the Hon’ble High Court directed for disposal of Evacuee Reference in accordance with law, therefore, the unjust decision by the Chairman shall be brought before Hon’ble High Court of Sindh through CP No.D-2464/2017.
Malik categorically stated that a false and baseless Reference was filed by ETPB before its Chairman in connivance with the illegal occupants of KCC&I Building, who are members of PML (N) and the Chairman’s decision is outcome of the favor extended by a member of PML (N) to other member of PML (N).
The KCCI president said that in addition to CP No.2464/2017, KCC&I will defend its right by filing appeal against the ETPB Chairman’s decision before the next appropriate forum and will utilize all available means to get the unjust and biased decision of ETPB Chairman struck down even if we have to go to the Hon’ble Supreme Court of Pakistan for seeking justice.
He mentioned that since the initial stage of the Evacuee Reference, KCC&I was anticipating unjust decision therefore KCC&I Office Bearers continued issuing press statements from time to time in order to highlight the biased approach and misuse of powers by Chairman ETPB against KCC&I and in favor of members of PML (N).
President KCCI explicitly said that the tenants should not pay any attention to ETPB’s biased decision in the said false and baseless reference.
The building belongs to KCCI members & the members of Managing Committee & Office Bearers, elected representatives of Businessmen Group/ Business & Industrial Community, are custodians of this property and will fight for it till the last resort which may take years: President KCCI Muffasar Malik.
PSX: Rupee’s depreciation lets bulls stay in the bourse on week’s 3rd trading day!
KARACHI: Specter of rising dollar helped KSE-100 Index close in the green (44,646 points) on the week’s third trading day with an augmentation of 0.76%.
Rs.9.11 billion worth of 207.1m shares were traded. Today’s top five traders of shares were Lotte Chemical, 16.49m shares (+2.78pc); TRG Pak,14.84m shares (+4.10pc); Sui Southern Gas, 13.4m shares (+3.64pc); Unity Foods, 9.54m shares (+0.85pc); Nimir Resins: 9.48m shares (+2.31pc).
PSX: Bulls reign the bourse due to augmenting dollar rates!
KARACHI: KSE-100 Index closed in the green (44,310) with an increase of 770 points as the dollar rates augmented overnight.
Rs. 10.98b worth of 220m shares were traded today. Value of the shares of 209 shares augmented, 147 plummeted while 18 remained stagnant.
Chemicals, Banks, Technology and Cement shares led the trade today with 38m, 25.3m, 20.5m and 18.5m shares respectively.
Today’s top five traders of shares were: Nimir Resins, 15.2m shares (+5.22pc); TRG Pak, 13.4m shares (+3.98pc); Lotte Chemical, 13.2m shares (-2.51pc); Unity Foods, 10.5m shares (+2.55pc); Aisha Steel, 9.7m shares (+3.11pc).
PSX: Bulls enter the bourse on week’s first trading day!
KARACHI: KSE-100 Index closed in the green (43,540) on the week’s first trading day with an augmentation of 176 points.
Rs. 5.3b worth of 116m shares changed hands today. Value of the shares of 182 companies augmented, 180 plummeted while 15 remained stagnant.
Top five traders of shares today were: Lotte Chemical, 20.1m shares (+3.40pc); Nimir Resins, 9.5m shares (+9.57pc); Fauji Foods Ltd., 6.0m shares traded [+3.48pc]; Faysal Bank: 4.4m shares (-0.82pc); TRG Pak Ltd., 4.4m shares (+2.11pc).