Daily Times

On Monday, the benchmark KSE-100 Index rose to close at 45,000, with trading volume remaining unchanged. The KSE-100 Index started the day on a lower note, dropping by 0.69 percent to an intra-day low of 44,561 points.

With optimism over IMF talks guiding the market in the second half, the stock market closed at 45,044.50 points, up 172.8 points, or 0.39 percent.

Corporate results for Sui Northern Gas Pipelines Ltd (SNGPL) were released for the second and third quarters of fiscal year 21. The company reported a profit after tax of Rs2.7 billion for the second quarter and Rs3 billion for the third quarter, resulting in EPS of Rs4.31 and Rs4.76 for the third quarter. The all-share index’s volume grew slightly from 267.05 million shares on Friday to 267.22 million shares on Monday, a small but significant gain. During the day, the value of shares rose to Rs10.1 billion from Rs9.02 billion on Friday, a rise of 2pc. With 25.66 million shares, Telecard Limited led the pack, followed by WorldCall Telecom (21.64) and Summit Bank (14.69).

Among the 545 stocks traded on Monday, 348 saw their shares rise, 192 saw their shares decrease, and 5 saw their shares remain steady.

FPCCI chief urges NAB to convene BCC meeting: A call has been made by FPCCI President Mian Nasser Hyatt Maggo to have NAB convene the meeting of its liaison committee with the business community, which was constituted two years ago and has only met once every two years.

The committee’s goal was to address complaints from the business community about NAB incidents and give them the ability to denounce any official abusing authority.

The NAB was convinced by Mian Naseer Hyatt Maggo that the business community would only make valid, legal, and well-meaning complaints and suggestions. In addition, he noted, FPCCI will assist NAB in raising awareness among small and medium-sized enterprises (SMEs) about the country’s transparency and accountability legislation.

The six-member Business Consultative Committee (BCC), according to the FPCCI chief, will convene on a regular basis to ensure its relevance and effectiveness, as well as to reach decisions quickly and with minimal disruption to enterprises. It’s also worth noting that the NAB established a three-person review committee, composed of senior NAB employees, to examine the Business Consultative Committee’s suggestions. It was suggested by Mian Nasser Hyatt Maggo that all members of the NAB’s Business Consultative Committee should be members of the committee by virtue of their position and not their names. To ensure that the committee is representative of Pakistan’s business, industrial, and trade sector as a whole, he has once again extended his full support and facilitation to NAB, as FPCCI President, so that they can use the apex and representative platform of FPCCI in their contact with Pakistan’s business community, and help them play their respective roles in Pakistan’s progress and prosperity.

NAB’s Business Consultative Committee should meet at least once every three months to stay abreast of the rapidly changing business and economic climate, according to FPCCI.