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Friday, October 23, 2009
12.9 million unauthorised SIMs blocked
KARACHI: Since the launch of “SIM Information System-668”, over 1.8 million subscribers have visited Customer Services Centers (CSC) of mobile operators for their data correction. For the convenience of subscribers of smaller cities and far flung areas, PTA has also allowed selected franchises to receive complaints regarding SIM data and handover copy of undertaking to the subscriber. They will not be allowed to correct/amend the data, which will only be done by the respective mobile company. PTA said the newly launched service is working smoothly and efforts made by PTA to solve the problem of incorrect data and unauthorized SIMs are being efficiently addressed by the mobile operators. During the clearance of mobile subscriber’s data, so far 12.9 million unverified SIMs have been blocked throughout the country.
Forex reserves rise to $14.48bn
KARACHI: The country’s foreign exchange reserves rose to $14.48 billion in the week that ended on Oct 17 compared with $14.46 billion the previous week, the central bank said on Thursday. Reserves held by the State Bank of Pakistan were $10.91 billion, compared with $10.89 billion a week earlier, while those held by commercial banks were flat at $3.57 billion compared with a week earlier, the central bank said in a statement. Foreign reserves hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6bn by November last year, largely because of a soaring import bill. An IMF emergency loan package of $7.6 billion agreed in November helped avert a balance of payments crisis and shore up reserves. The IMF, which increased the loan to $11.3 billion in July, has disbursed over $5bn.
SBP buys Rs16.5bn of T-bills
KARACHI: The State Bank of Pakistan bought back 16.5 billion rupees ($198 million) of Treasury bills on Thursday under two-day reverse-repo contracts at 12.41 per cent to inject liquidity into a tight money market.
TCP gets 6 bids against urea tender
KARACHI: Trading Corporation of Pakistan (TCP) has received six bids against its covering tender for the supply of 100,000 tons of urea. A TCP source said here on Thursday that the bidders have offered prices in the range of $296.87 to $303.50 per ton C & F basis. The tender was floated on October 14, 2009. Trans Ammonia of Switzerland has submitted the lowest bid. Meanwhile, the TCP has cancelled two covering tenders for the import of 100,000 tons of urea each as the required quantity is likely to be achieved with the finalization of October 13, tender. Both the tenders were floated on October 15 and 19 and scheduled to be opened on October 24 and 27, respectively.
Arif Habib Investment posts profit
KARACHI: Arif Habib Investment Ltd has posted a profit after tax of Rs69.253 million for the first quarter ended September 30, 2009. According to financial results of the company dispatched to Karachi Stock Exchange here on Thursday, profit before tax surged to Rs69.123 million as earning per share rose to Rs2.31 during the period under review.
Attock Refinery posts loss
KARACHI: Attock Refinery Ltd (ARL) has reported a loss after tax of Rs553.182 million for the first quarter ended September 30, 2009. According to financial results of the company sent to the Karachi Stock Exchange on Thursday, loss before tax declined to Rs532.120 million while loss per share dropped to Rs4.65 during the period under review.
Pak Refinery losses decline
KARACHI: Loss after tax of Pakistan Refinery Ltd (PRL) has declined to Rs672.169 million for the first quarter ended September 30. According to the financial results of the company sent to the Karachi Stock Exchange here on Thursday, loss before tax also shrank to Rs650.419 million for the period under review and loss per share went down to Rs19.20 compared to Rs39.71 in the corresponding period last year.
Takaful coverage for Auto Ijara portfolio
By our correspondent
LAHORE: Pak-Qatar General Takaful Limited (PQGTL) and Bank Alfalah have signed an agreement according to which Pak-Qatar would provide comprehensive Takaful coverage to the bank’s Auto Ijara portfolio. The agreement was signed by DCEO Pak-Qatar General Takaful Rohail Ali Khan and the Incharge of Bank Alfalah Islamic Banking Ijaz Farooq. According to the agreement, PQGTL would provide Takaful coverage for Bank Alfalah’s Auto Ijara assets, including cover for riots, acts of terrorism and natural disasters.
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ISSN 1563-9479 
