Stocks & Bonds

Bearish trend on KSE.

KARACHI (April 30, 2009): Karachi share market witnessed bearish trend due to investors concerns over the prevailing law and order situation in the northern parts of the country and the benchmark KSE-100 index declined by 158.78 points to close at 7,271.30 points level on Wednesday. The market opened on a positive note and the index hit 7,549.36 points intra-day high level, up by 119.28 points.

Panic selling seen on LSE.

LAHORE (April 30, 2009): Depressed sentiment continued at Lahore Stock Exchange on Wednesday and equities registered losses amid panic selling on account of ongoing operation against Taliban in some districts of NWFP. The LSE-25 index slipped by 50.02 points to 2101.48 against 2151.50 of Tuesday. Transaction volume squeezed to 18.762 million shares as compared to 22.481 million shares.

ISE index loses 27.87 points.

ISLAMABAD (April 30, 2009): Equities failed to show plus signs at Islamabad Stock Exchange (ISE) on Wednesday where fresh bearish assault moved the entire ready board in downward direction amid decrease in index. ISE-10 Index was down by 27.87 points from 1,674.79 to 1,646.92 points. Turnover amounted to 1,891,835 shares as compared to previous volume of 2,343,850 shares.

BRIndex30 sheds 166.35 points.

KARACHI (April 30, 2009): On Wednesday, the BRIndex30 opened at 7,007.23 with an upward gap of 41.17 points, and closed at 6,799.71 points, with a net negative change of 166.35 points and percentage change of 2.39. It experienced intra-day high of 7,127.25 and low of 6,779.82 points. The volume amounted to 146,530,400 shares, which was 80.58 percent of the total market and 96.10 percent of KSE-100 index.
Shares buy-back schedule
KARACHI (April 30, 2009): Shares buy-back schedule of listed companies on Wednesday (April 29, 2009).

IGI Investment Bank listed on ISE.

KARACHI (April 30, 2009): IGI Investment Bank, part of the IGI Financial Services, after meeting all the necessary financial and regulatory requirements, is now effectively listed on the Islamabad Stock Exchange (ISE).

Statutory returns: non filers to face legal action: SECP.

ISLAMABAD (April 30, 2009): The Securities and Exchange Commission of Pakistan (SECP) has decided to take legal action against directors and chief executives of approximately 23,850 companies, who failed to file statutory returns under the Companies Ordinance, 1984.

Revised Rates of Debt Securities.

KARACHI (April 30, 2009): The following were the revised rates of debt securities on Wednesday (April 29, 2009).

Odd Lot Market Rates.

KARACHI (April 30, 2009): Odd Lot Market Rates on Wednesday (April 29, 2009).
Mutual Funds Association of Pakistan
KARACHI (April 30, 2009): Mutual Funds Association has issued open-end funds daily prices for Tuesday (29 April 2009)

Trademark protection: Smeda publications to help SMEs improve export performance

LAHORE (April 30, 2009): The Small and Medium Enterprises Development Authority (Smeda) has launched two new business development publications for the benefit of small and medium entrepreneurs (SMEs) to enable them to avail of the opportunity. Smeda Chief Executive Officer (CEO) Shahid Rashid highlighted the major features of the publications in a briefing held here on Wednesday.

IDA to provide $250 million for poverty alleviation project

FAISALABAD (April 30, 2009): International Development Agency (IDA) will provide $250 million for 'Third Pakistan Poverty Alleviation Fund Project' to empower the targeted rural poor people that would help them achieve respectable livelihoods.

Rs 300 million provided for 202 uplift schemes in Dera Ghazi Khan

MULTAN (April 30, 2009): Punjab government has provided funds of Rs 300 million for 202 development schemes of 33 electoral areas of provincial assembly in Dera Ghazi Khan division, said Commissioner Dera Ghazi Khan Hassan Iqbal while presiding over a high level meeting in Muzaffargarh on Wednesday.

Dearth of civil engineers hampering infrastructure development

LAHORE (April 30, 2009): The dearth of civil engineers in Pakistan is hampering planning and delivery of infrastructure projects in the country and experts express fear that the phenomenon may continue over the next few years.

CCP to charge Rs 0.1 million for advice on mergers

ISLAMABAD (April 30, 2009): The 'Acquisitions & Mergers Facilitation Office' (AMFO) of the Competition Commission of Pakistan (CCP) will charge a huge fee, of Rs 100,000 per case, for providing advisory facilitation service to companies.

Promotion of exports: ministry selects 10 officers for appointment abroad

ISLAMABAD (April 30, 2009): Commerce Ministry has selected ten officers of District Management Group(DMG), Commerce and Trade (C&T) and one ex-cadre (Economist) to be appointed abroad to promote Pakistani exports, out of which more than half are, allegedly, 'Parchi Holders' of influential politicians.

Land for Gwadar airport: Balochistan government held responsible for raise in price

ISLAMABAD (April 30, 2009): The Ministry of Defence has held the Balochistan government responsible for 122 percent increase in the price of the land for New Gwadar International Airport (NGIA). The provincial government has also been accused of not only ignoring the directives of the Deputy Chairman Planning Commission, but also changing the basic data of calculating the average price of land.

Volume squeezes to 181m shares as KSE sheds 239 points

KARACHI - Nervousness among the investors over certain political and economic issues once again pushed the local bourse towards red-zone as KSE-100-index lost another 239 points on Thursday.Dusty opening kept the prospective buyers on the back foot, despite foreign inflows reported for Wednesday, the local participants stayed cautious and the equities continued to lose value.Corporate participants did come in for accumulation, however, knowing the factual situation that low turnover mainly due to absence of leverage product in ready board may lead to further price erosion, liquidity was withheld for bottom fishing (bottom yet to be identified).The KSE-100 Index closed at 7,335.72 points, confirming a loss of 238.45 points after touching day’s high level of 7,630.66 points and low level of 7,314.59 points on Thursday. Trading activity at the KSE was disturbing as the market volume squeezed to 181.167 million shares on Thursday as compared to 226.886m shares of last session.“The bearish blast turned out to be damaging for the investors as stock prices slide down in fast and furious manner. Despite quarterly results announced today were largely impressive, especially OGDC, FFC and MCB along with greater payouts. But the height of bearish tide washed away the stocks with better results”, stated Shahid Ali, CEO HMFS adding, FFC was the only stock left aside in the green zone. Over the last three days, the benchmark index remained under selling pressure as market lost 585 points and moved towards 7,000 points benchmark. Total trading value of the market remained 9.280b rupees as compared to last session’s 10.587b rupees.

Out of 352 active stocks at the KSE, only 60 companies managed to gain value, 282 declined while the worth of the shares of only 10 symbols remained unchanged. Market Capitalization decreased to Rs2.193 trillion on Thursday, showing loss of nearly Rs71b from last session’s Rs2.264 trillion.Fauji Fertilizer was witnessed as the volume leader of the day with the trading of 13.452m shares on Thursday. Other prominent shares at the KSE include Lucky Cement 12.960m shares, OGDC 12.198m shares, NIB Bank 11.185m shares, DGKC 8.344m shares, Bank Al-Falah 7.036m shares, Jahangir Siddiqui 6.997m shares, NBP 5.859m shares, Pak Oilfields 5.708m shares, United Bank 4.927m shares, Pak Petroleum 4.614m shares namely.Top gainers at the Karachi stock market include Service Industries and it gained Rs7.66/share, closing at Rs160.89, Exide Pakistan added Rs6/share and closed at Rs136 with the trading of only 200 shares, Shahtaj Sugar gained Rs3.44/share and its value was improved to Rs75.20, IGI Insurance added Rs2.83/share and closed at Rs101.83, Pakistan Tobacco added Rs2.29/share and closed at Rs74.29, Zulfeqar Industries closed at Rs76.25, gaining Rs2.11/share, Fauji Fertilizer gained Rs1.50/share and closed at Rs99.91.On the other hand, Wyeth Pakistan lost Rs54.25/share and closed at Rs1325.75 with the trading of only 60 shares on Thursday, Unilever Pakistan lost Rs31.99/share and its value was decreased to Rs1948.01, Attock Petroleum also lost Rs12.97/share and closed at Rs291.45, Shell Pakistan lost Rs11.82/share, closing at Rs228.21, PSO Pakistan closed at Rs200.40, losing Rs10.54/share, Siemens Pakistan lost Rs10/share and closed at Rs750, MCB Bank lost Rs9.32/share and closed at Rs177.27.Growing concerns regarding certain political issues and anticipation of a sour budget have together allowed nervousness to resurface. Low turnover at peak is certainly pushing the levels at the lower side.

Pakistani businessmen have 'successful' talks in New York

NEW YORK - A delegation of Pakistani businessmen and entrepreneurs, jointly sponsored by the governments of Pakistan and the United States, flew to Washington Thursday after a "successful visit" to New york where its members met their American counterparts and news media representatives."We had a very good visit here and achieved a lot," Saleem Mandviwala, Minister of State and Chairman of the Board of Investments who is leading the delegation, told a press conference.In Washington, the delegation is expected to meet US commerce secretary Gary Locke and other administration officials, besides businessmen and investors.US Ambassador to Pakistan Anne Patterson, who accompanied the delegation, said that she felt that Pakistani entrepreneurs had made a "great impact" on American investors during their presentations about the vast opportunities in Pakistan, despite security challenges in the country.Mandiwala acknowledged that there were security challenges, but Pakistan provided very easy terms to foreign investors. There were vast investment opportunities in the pakistan, a country of 16 million people with a big market.The basic purpose of the delegation, the minister said, was to bring home to their American counterparts that the situation in Pakistan was not as serious as projected in the media. "We apprised them of the correct sitaution," he said.Other delegation members pointed out that despite the security situation, none of the multinationals and other foreign-owened enterprises have abandoned their businesses.Asked to specify the successes of the delegation, Mandviwala referred to an announcement earlier this week that Oaklahoma-based businesses have been awarded nearly $100 million in contracts for the engineering, procurement and construction of two power plants in Pakistan. The two natural gas-fired power plants will produce a combined 160 megawatts of electrical power.Mandviwala said that more delegation would come from Pakistan to follow up on the results achieved by them.

SBP releases annual report 2007-08: working capital, trade loans show increase while bank advances to equity market depict decline

KARACHI (December 07, 2008): Review of the Economy: Both working capital and trade loans showed an increase while fixed investment loans and bank advances to the equity market demonstrated a decline in the last financial year, says the State Bank of Pakistan in its annual appraisal of the economy in financial year 2007-08. The document was issued Saturday, after a delay of five months.

Recent trends in key macroeconomic variables quite encouraging

ARTICLE (April 05, 2009): Recent trends in most macroeconomic variables suggest that the disciplined implementation of the macroeconomic stabilisation program is bearing fruit. With an improvement in fiscal discipline complementing the tightening of monetary policy, aggregate demand has seen a meaningful contraction.

Reasonable growth in agriculture sector hoped

KARACHI (April 05, 2009): Agricultural sector growth will be reasonably good during FY09 due an anticipated record wheat harvest above target performance of minor crops and a reasonably good out turn by the livestock sub-sector. According to the SBP second quarterly report, despite the drag from 18.5 percent decline in sugarcane output during kharif FY09, agricultural sector expects a healthy growth due to the bumper wheat crop.

CPI inflation to remain above 20 percent

KARACHI (April 05, 2009): The State Bank of Pakistan has predicted that headline CPI inflation would be above 20 percent in FY 2009. "Although headline CPI inflation showed some signs of respite after reaching its three decades high level of 25.3 percent in August 2008, it has remained on the higher side," said the SBP second quarterly report on economy.

Result of disciplined implementation: macroeconomic indicators start showing improvement

KARACHI (April 05, 2009): Pakistan's macroeconomic indicators have started to show improvement due to disciplined implementation of the macroeconomic stabilisation program. However, the country will miss the chief economic targets like GDP, inflation, remittances, exports and large-scale manufacturing (LSM) in fiscal year 2008-09, according to the Second Quarterly Report of the State Bank of Pakistan on the State of Economy released on Saturday.

Defence spending, interest on debt absorb three-fourths of revenues

KARACHI (April 05, 2009): Defence spending and interest costs on country's rising debt are absorbing three-fourth of the revenues, says the State Bank of Pakistan. The second quarterly report on the economy, issued by SBP, on Saturday also said that due to sharply constrained access to international capital markets as well as slower deposit growth in banks, the domestic interest rates will be more sensitive to government funding demands through the volume-based auctions of government paper.

Politics and industrial development in Pakistan discussed

LAHORE (April 24, 2009): On the second day of the conference held here Thursday, session three focused on "Industrial development and competitiveness" of Pakistan economy. Dr Hamid chaired the session. The lead speaker for this session, Dr Adeel Malik discussed the political economy of industrial development in Pakistan from a long term perspective.

CDGK decides to turn KIA into model industrial zone

KARACHI (April 24, 2009): The city government has decided to turn sector 27 of Korangi Industrial Area (KIA) as model sector industrial zone, this was stated by Town Nazim, Landhi, Asif Husnain in a meeting with Chairman and members of Korangi Association of Trade an d industry (KATI) on Thursday.

UNIDO accelerates CDM for energy efficiency in Pakistan

KARACHI (April 24, 2009): United Nations Industrial Development Organisation (UNIDO) has accelerated its efforts towards implementation of its Clean Development Mechanism (CDM) programme leading to energy efficiency in the Pakistan. The CDM under article 12 of Kyoto Protocol is considered as an effective mechanism for industrial and economic development for the developing countries like Pakistan.

Only half of Rs 67 billion spent on uplift schemes: Qaim unfolds 53-page one-year performance book in Assembly

KARACHI (April 24, 2009): Sindh government during the last one year has calculated its development portfolio in different sectors at Rs 67 billion, out of which the "very week institutions" of PPP-led provincial government spent 30 to 50 percent on ground.

Senate body urges members to take country out of economic crunch

ISLAMAMABAD (April 24, 2009): The Senate Standing Committee on Finance on Thursday met and urged the elected representatives to not only reduce their expenditure but also make efforts to take the country out of the severe economic crunch. The Secretary Senate informed the meeting that the Secretariat made a substantial saving of Rs 10 crore last year and this year too a substantial amount of saving is expected.

IMF projects current account balance minus 5.9 percent of GDP

ISLAMABAD (April 24, 2009): The International Monetary Fund (IMF) has projected Pakistan's current account balance for 2009 as minus 5.9 per cent of GDP in dollar terms. A recent report of IMF revealed that in 2009, the external debt refinancing needs of the country in 2009 as percentage of reserves would be around 28 per cent.

Repatriation of profit by foreign investors rapidly decreasing

KARACHI (April 24, 2009): Repatriation of profit and dividend by foreign investors is rapidly decreasing as it has registered a decline of 4 percent during the first nine months of current fiscal year mainly due to the slackness in the economy.

BRIndex30 down 254.36 points

KARACHI (April 24, 2009): On Thursday, BRIndex30 opened at 7,177.15. It closed at 7,002.64 with a net negative change of -254.36 points and percentage change of -3.51. It experienced intra-day high of 7,330.65 and intra-day low of 6,982.11. The volume amounted to 142,267,100, which was 78.53 percent of the total market and 93.32 percent of KSE-100 index.

ISE index shows decrease of 54.57 points

ISLAMABAD (April 24, 2009): Equities failed to show recovery signs at the Islamabad Stock Exchange (ISE) where major players and short-term margin hunters offloaded their positions to avoid heavy loses amid decrease in index. ISE Ten Index showed a decrease of 54.57 points, as the ISE Ten Index moved from 1,679.15 to 1,624.58 points.

Bears remain in driving seat on LSE

LAHORE (April 24, 2009): Bears remained in the driving seat at the Lahore Stock Exchange (LSE) where losers outclassed gainers with wide margin under the lead of favourite scrips amid descending transaction volume on Thursday. The LSE-25 index further declined to 2117.90 against 2204.52 of Wednesday, depicting a fall of 86.62 points.

Selling pressure on KSE intensifies

KARACHI (April 24, 2009): Heavy selling pressure continued at Karachi share market due to below the expectations of corporate results and absence of leverage product and the benchmark KSE-100 index witnessed a further decline of another massive 238.45 points (3.15 percent) to close at 7,335.72 points level on Thursday.

Financing allowed for spinning sector machinery import

KARACHI (April 22, 2009): The State Bank of Pakistan has allowed financing for plant, machinery & equipment under LTFF to be used by the export-oriented projects in sub-sectors/processes of spinning sector including doubling, twisting, combing, slubbing, lycra, and yarn dyeing.

Machinery import under LTFF: refinance of outstanding long-term loans allowed

KARACHI (April 22, 2009): The State Bank of Pakistan has decided to allow a one-time opportunity for export-oriented industries to refinance their outstanding long-term loans availed from banks/DFIs for import/purchase of plant and machinery with loans under SBP's long term finance facility (LTFF) scheme to facilitate exporters.

Are they preparing to fight? 15,000 licences for fire arms issued

KARACHI (April 22, 2009): Sindh home department has issued as many as 15,000 licences for fire arms to Pakistan People's Party loyalists from Sindh Home Minister's quota only, violating its own directives against issuance of licences for maintaining peace in the province.

9.57 percent rise in agriculture credit disbursement

KARACHI (April 22, 2009): Disbursement of credit to agriculture sector by commercial and specialised banks increased by Rs 13.264 billion by 9.57 percent year-on-year to Rs 151.861 billion during nine months (July-March) of the current fiscal year (2008-09) from Rs 138.597 billion of corresponding period of last fiscal year (2007-08).

TAPI: Pakistan faces gas price issue with Turkmenistan

ISLAMABAD (April 22, 2009): Pakistan faces gas price issue with Turkmenistan regarding Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project as Turkmenistan has shown reluctance to export gas below $11.4 per million British thermal unit (MMBTU).

Nizam-e-Adl Regulation: NWFP government's powers challenged in Supreme Court

ISLAMABAD (April 22, 2009): The Supreme Court on Tuesday was requested through a petition to determine what empowered the Frontier government to establish a new judicial forum to exercise ultimate authority - a right reserved for the apex court and protected in its appellate jurisdiction by the Constitution.

Machinery import under LTFF: refinance of outstanding long-term loans allowed

KARACHI (April 22, 2009): The State Bank of Pakistan has decided to allow a one-time opportunity for export-oriented industries to refinance their outstanding long-term loans availed from banks/DFIs for import/purchase of plant and machinery with loans under SBP's long term finance facility (LTFF) scheme to facilitate exporters.

ISLAMABAD (April 22, 2009): Pakistan should focus on a range of critical development issues, including health, education, skill building and social mo

KARACHI (April 22, 2009): The State Bank of Pakistan has allowed financing for plant, machinery & equipment under LTFF to be used by the export-oriented projects in sub-sectors/processes of spinning sector including doubling, twisting, combing, slubbing, lycra, and yarn dyeing.

Pakistan should focus on critical development issues: World Bank

ISLAMABAD (April 22, 2009): Pakistan should focus on a range of critical development issues, including health, education, skill building and social mobilisation, as well as important infrastructure to underpin the future growth, said a statement issued by the World Bank here on Tuesday.

No decision on gas price fixation period reached yet

ISLAMABAD (April 22, 2009): The government has not yet reached consensus over the period for gas prices fixation--bi-annual or quarterly--as the Economic Co-ordination Committee (ECC) of Cabinet in its previous meeting had agreed just to constitute a committee, sources in Petroleum Ministry told Business Recorder here on Tuesday.

AML Ordinance to be further reviewed

ISLAMABAD (April 22, 2009): The government has decided to further review the proposed amendments to the Anti-Money Laundering Ordinance 2007, mainly to address the concerns regarding powers of investigators, onus of proof and charity received by Madrassahs, sources in Finance Ministry told Business Recorder.

Rs 31 billion sales tax, FED arrears: massive recovery drive launched

ISLAMABAD (April 22, 2009): Total pending sales tax and federal excise duty (FED) arrears were approximately Rs 31 billion on March 31, 2009 for which a massive recovery drive has been launched in the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs) across the country. Sources told Business Recorder on Tuesday that the FBR has taken serious notice of the accumulation of sales tax and federal excise arrears during 2008-09.

7.58 percent decline in textile exports

ISLAMABAD (April 22, 2009): Exports of textile products declined by 7.58 percent during July-March period of current fiscal year to $7.193 billion as compared to $7.7883 billion of the same period of last year, according to Federal Bureau of Statistics. Figures released here on Tuesday showed a staggering decline of over 22 percent in export of textile products in March over the same month of last year as a result of negative growth in all sub-sectors.

AG awards $100 million energy deal to two US firms

OKLAHOMA CITY (April 22, 2009): Pakistan's Associated Group (AG) is awarding $100 million in contracts to two Oklahoma-based companies for the construction of two power plants in Pakistan. An announcement to this effect was made by AG Chairman Iqbal Z Ahmed at a joint press conference with Oklahoma state officials at the Oklahoma State Capitol, Tuesday.

Zardari, Gilani discuss important political, security matters

ISLAMABAD (April 22, 2009): Prime Minister Yousuf Raza Gilani on Tuesday called on President Asif Ali Zardari at Awan-e-Sadr and discussed important political and security matters. Sources said that the two leaders discussed Swat situation following the enforcement of Nizam-e-Adl Regulation, sitting of PPP members on the opposition benches in Punjab Assembly and war on terror.

Mullen arrives to hold talks with high ups

ISLAMABAD (April 22, 2009): Chairman Joint Chiefs of Staff of United States Admiral Mike Mullen arrived here on Tuesday on a two-day visit. During his stay he will meet Pakistani authorities to discuss important security issues in the aftermath of the enforcement of the Nizam-e-Adl Regulation in Malakand division.

Package of incentives for Gwadar EPZ blocked by Cabinet

ISLAMABAD (April 21, 2009): The Federal Cabinet has reportedly blocked a package of incentives for Gwadar Export Processing Zone (EPZ), secretly prepared by the Industries Ministry to "facilitate" one private entity, well-informed sources told Business Recorder on Monday.

SBP lists factors impeding economic activities

KARACHI (April 21, 2009): Global recession, severe power outages and bad law and order conditions have taken their toll on domestic economic activities, said the State Bank of Pakistan in its monetary policy statement on Monday. The SBP said that dismal performance of large scale manufacturing (LSM) in July-February, FY09 with negative growth of 5.7 percent, and weaker than target growth of agriculture sector point towards the weaker real economic activities of commodity producing sector for FY09.

Tax revenues likely to fall short of target

KARACHI (April 21, 2009): The State Bank of Pakistan on Monday said that tax revenues are likely to fall short of the stipulated target and weakening of domestic and global environment can also increase the stress on Pakistan's banking system. Identifying the risks and challenges, the SBP in its monetary policy statement said that despite considerable improvements in the external sector, its outlook remains a major source of concern.

Discount rate lowered by 100 basis points to 14 percent

KARACHI (April 21, 2009): The State Bank of Pakistan, easing its monetary policy for the first time in 22 months, on Monday slashed key policy rate by 100 basis points to 14 percent citing positive inflation outlook. The SBP adopted tight monetary stance in July 2007 aiming to curb inflation and shrink liquidity in the market and since then has raised its policy rate by 550 basis points to take it 15 percent.

ISE Tower

Karachi Stock Exchange (G) Limited

VISION

To be a leading financial institution, offering efficient, fair and transparent securities market in the region and enjoying full confidence of the investors.

MISSION

• To strive to provide quality and value-added services to the capital market in an efficient, transparent and orderly manner, compatible with international standards and best practices.
• To provide state-of-the-art technology and automated trading operations, driven by a team of professionals in accordance with good corporate governance.
• To protect and safeguard the interests of all its stakeholders, i.e. members, listed companies, employees and the investors at large.
• To reflect the country’s economic health and behavior and play its role for the growth, development and prosperity of Pakistan.

KSE POSITIONED TO BE A HUB OF CAPITAL FORMATION IN THE REGION

• South Asian Federation of Exchanges (SAFE)
• Vice Chairmanship of the South Asian Federation of Exchanges Member Federation of Euro-Asian Exchanges (FEAS)
• Affiliate Member of the World Federation of Exchanges (WFE)
• Affiliate Member of International Organization of Securities Commissions (IOSCO)
• Agreements with other Exchanges Dubai Financial Markets Abu Dhabi Securities Market Shanghai Stock Exchange

OUR FUTURE SUCCESS WILL DEPEND ON THE QUALITY OF OUR HUMAN RESOURCES

• A spirit of youthful energy, high intellect and superior skills characterizes our people.
• Our workforce consists of a combination of youth and experience – perfectly suitable to the organization’s current requirement and future challenges.
• KSE employs the best available human resource from the capital market and financial industry.
• Candidates are selected based on their individual energy, quick thinking ability, confidence, decision making ability, integrity and professionalism – attributes that define the person’s compatibility with KSE culture.
• The key to our long-term success is the creative genius of our people and their drive towards excellence.
• Our employees are exposed to an organizational commitment to continuous personal and professional development.
• Our people get involved in various initiatives ranging from management skills, development and personal improvement, to technology advancement and process enhancement.
• On a regular basis, some of our best performers are selected for our Mentoring Program, where seasoned mentors groom their portages towards positions of greater responsibility and influence.
• Promoting a performance driven culture where ‘high performers’ are recognized for their exceptional contributions.

WE PLAY A KEY ROLE IN PAKISTAN’S ECONOMY

• The KSE is one of Pakistan’s largest tax payer and in the fiscal year 2006- 2007 contributed over Rs. 4 billion towards the national exchequer.
• Listed Companies contribute over 10% of total revenue collected by the Government of Pakistan.
• KSE brokers on average pay more than 50% of their profit before tax as presumptive tax.
  Our investors pay 10% tax on dividends.
  

OUR CUSTOMER

• Issuers (Listed Companies)
• Brokers and Members
• Investors

OUR TECHNOLOGY

• Our Information Technology Group forms the Core of our Business Operations
  Development, implementation and monitoring of state-of-the-art trading system known as Karachi Automated Trading System (KATS), introduced in 2002 with a capacity of 1 million trades a day and unlimited number of users.
• Disaster Recovery Management and Business Continuity Programs database backups.
  Software Development, Testing and Training.
• Customer Services Support.
• Caters to member’s complaints regarding computer network and trading systems.
• Administration and Maintenance of servers and operating systems.
• Partnerships with Microsoft, Oracle and Unisys for I.T. infrastructure.

Lahore Stock Exchange (G) Limited

Lahore Stock Exchange was established in October 1970 and is the second largest stock exchange in the country with a market share of around 12-16% in terms of daily traded volumes. LSE has 519 companies, spanning 37 sectors of the economy, that are listed on the Exchange with total listed capital of Rs. 555.67 billion having market capitalization of around Rs. 3.64 trillion. LSE has 152 members of whom 81 are corporate and 54 are individual members.
Activities of Lahore Stock Exchange (LSE) have increased significantly in all operational areas since its inception. Over the years, LSE has successfully met various challenges and has now emerged, fully geared and positioned to aggressively compete with its fellow Exchanges, contributing towards the growth of Capital Markets in Pakistan. Important Developments over the Past YearsA number of significant initiatives have been taken to improve the regulatory regime and the trading environment for the benefit of Institutional Investors as well as listed companies. Although the list of such initiatives is exhaustive, below some of these incentives are touched upon;
LSE was the first Exchange in the country to undertake automation of trading at the exchanges in 1994. LSE has made large investments in technology & automation to keep pace with globalization of securities trading. The Exchange is fully committed to providing a transparent, efficient, fair and investor friendly environment for the benefit of Investors and Issuers. The goal is to bring LSE up to international standards in operational, technical, regulatory and quality management areas and to ensure that not only domestic but also foreign investors are attracted.
LSE has made direct investment in Pakistan Credit Rating Agency (Pvt) Ltd. (PACRA), Central Depository Company Ltd. (CDC), National Clearing Company of Pakistan Ltd. (NCCPL), and National Commodity Exchange Ltd. (NCEL), all of which play a central role in developing the infrastructure around the financial markets of Pakistan. In addition, LSE is an active member of the Federation of Euro-Asian Stock Exchanges (FEAS) and the South Asian Federation of Exchanges (SAFE), helping to expand its outreach, presence and profile beyond the boundaries of Pakistan.
LSE was the first Exchange in Pakistan to offer Internet based trading to its members in the year 2001. It enables the brokers to reach out to the untapped retail markets. Currently, more than 50% of the total trading volume at the LSE originates from Internet trading terminals. The aim of this measure is to transform the LSE from a regional to a national player over a period of time.
LSE has increased its geographical outreach by establishing its branches in other cities of the Province. Two such branch offices have become operational in Faisalabad and Sialkot. Similar Offices in other cities are also being contemplated. LSE’s trading system has already been modified to connect branch offices in real-time fashion. There is a growing need for remote trading terminals reflecting the confidence of traders in the use of stable Internet Trading Systems.
LSE has improved the quality of operations and upgraded them to modern international standards. This has included upgrading LSE’s IT infrastructure, updating regulations and procedures to incorporate existing and expected technological changes, as well as reorganizing and restructuring the workforce. As a result, LSE’s capabilities as both a front-line regulatory body and a service organization have been significantly enhanced.
LSE has successfully launched Unique Identification Number (UIN) System with an objective to bring more efficiency and transparency to the stock business and to improve the surveillance and monitoring capacity of the Exchange.
LSE has implemented a regular timetable for the Broker System Audit, in order to build investors’ confidence. Also, LSE has taken effective risk and exposure management measures including the implementation of a fully automated in-house developed Trade Risk Filter (TRF) to efficiently monitor members’ pre-trading exposures on a real time basis. This has been a quantum leap for LSE in improving its risk management systems.
A visible trend at the LSE has been the increasing number of corporate members. It is heartening to note that part of this increase has been due to the entry of investment banks/financial institutions (or their subsidiaries) as members of the Exchange. An overview of this trend over the past years is as follows:

The above trend has led to record trading volumes as well as an improved product offering. The measures at LSE have attempted to create an atmosphere, which is more conducive and transparent for investment. The investing public has received the reforms very positively.
LSE Training Institute specifically dedicated to the Capital Markets, is the first of its kind in Pakistan and was established in 2006. Formal courses have been introduced to provide trained human resources for the capital markets. It has also launched a series of Education Programs with a view to educate the brokers, agents and general public about the securities market and its laws. In an effort to promote the education sector, particularly in relation to financial markets, LSE is providing scholarships to deserving students of Lahore University of Management Sciences (LUMS). LSE encourages universities and colleges to come and visit LSE.
In another trend-setting example, Lahore Stock Exchange and Islamabad Stock Exchange have joined hands to establish a Unified Trading Platform which will help to bring increased liquidity in the market, improve price discovery, maximize transparency, increase turnover, broaden investor base, curtail risks and distortions in trade, provide cost effective service to the investing public and enhance the image of both the Exchanges.
As part of second generation capital market reforms being pursued by the Securities & Exchange Commission of Pakistan, demutualization is being seriously considered by the members of the exchanges and hopefully that during the year 2007 a decision will be taken in the best interest of the capital markets of the country. Demutualization is in line with international standards, which will ensure that the exchange truly and fairly represents the interests of all stakeholders.

Islamabad Stock Exchange (G) Limited

The Islamabad Stock Exchange (ISE) was incorporated as a guarantee limited Company on 25th October, 1989 in Islamabad Capital territory of Pakistan with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world. The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan.
The ISE has set the highest standards of operational efficiency and is committed to support a climate of confidence and optimism that encourages and promotes trading activity. It also provides for conducive environment to channelize the small investments of the residents of less developed areas. The ISE offers an easy access to both domestic as well as foreign investors and actively encourages the listing of eligible and profitable companies, both large and small to make it an exciting and diverse Exchange. The Exchange is playing a pivotal role for economic growth of the area thereby contributing towards the overall economic prosperity and welfare of the country.
At present there are 118 members out of which 104 are corporate bodies including commercial and investment banks, DFIs and brokerage houses. The other 18 Members are individual persons who are well educated, enterprising and progressive minded. The affairs of the Exchange are governed by the Board of Directors. The Board of Directors consists of ten directors, of which five are elected member directors and four are non-member directors nominated by the SECP while the managing director by virtue of his office is the tenth director of the Board . In order to protect the interest of the investing public, an Investors Protection fund has been established by the Exchange. Since the inception of automated trading system (ISECTS), the trade volume has been multiplying day by day and the average daily turnover has now crossed the figure of 1 million shares. Now all the listed securities are traded through the ISECTS. The system of physical handling of shares and securities has been phased out and majority of the scrips are settled through Central Depository Company of Pakistan Limited. At the moment there are 248 companies/securities listed including 6 Open- End Mutual Fund and 4 TFCS on the Exchange with an aggregate capital of Rs. 572,057.266 million. The market capitalization stood at Rs. 1,943,646.210 million as on 16-12-2008 . The pace of listing has remained slow as the economy of the Country is under consistent pressure due to internal as well as external factors.In comparison with major financial markets around the World, the functioning of capital market in Pakistan is still very much in its infancy and lacks advanced technology. In this context efforts are being made to bring ISE in line with the International system and methodology.

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Source : http://www.estockwise.com/

Gold investing rush speeds up again

Investor interest in gold has accelerated again, with the metal's dip since February attracting bargain hunters

Good as gold: But is now a buying opportunity?

Gold has been in investors' thoughts after the commodity has fallen back by almost 11% since hitting a high in February.

After momentarily crossing the $1,000 an ounce mark in February, gold has dropped back to $897.

And since February, sterling has strengthened against gold which is priced in US dollars.

Adrian Ash, of BullionVault says: ''Right now investors are being offered gold at a currency discount of some 13% since February's high.

'We have been phenomenally busy over the past few days. But in our experience, investors tend to buy in a falling market anyway. If savers have been considering buying into gold, right now could be a good opportunity.'

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How to invest in gold

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Downward pressure was put on the gold price this week when the news emerged at the G20, that the International Monetary Fund was to accelerate its sales of gold. But many investors are seeing this as good buying opportunity.

Gold, which is traditionally viewed as the ultimate safe haven investment, has been in the headlines over the past year.

Since the start of 2008, as the financial crisis has progressed, the nominal price of gold has exceeded $1,000 on more than one occasion.

However, it should be noted that in real terms gold remains well below its record value says Tom Elliott, at fund manager, J.P.Morgan Asset Management.

Graham Spooner, at stockbrokers The Share Centre, urges caution, he says: 'We have experienced a rise in calls recently from customers keen to invest in gold.

'We have explained that this market is very volatile and given the recent good run there is every chance the market may experience some periods of weakness.'

Concerned savers have flocked to the asset class, to invest either directly in bullion itself, or via funds, since the credit crunch took hold. It has always been viewed as the ultimate safe haven and a valued international reserve currency.

Source : http://www.thisismoney.co.uk