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Punjab's pension predicament - Newspaper

The assets of the Punjab Pension Fund (PPF) are estimated to grow to Rs84.7 billion at the end of the present fiscal year of 2020-21. The government, according to the provincial budget documents, has contributed Rs38.1bn into the fund in 13 years while the remaining Rs46.6bn has been earned through its investments. The budget documents show the fund has earned a ‘reasonable’ real rate of return of 4.26 per cent per annum since its inception in 2008-09, illustrating the success of its investment strategy. “The investment strategy followed (by the PPF) over the years has worked well. The Pension Fund continues to earn an attractive real rate of return because of its high yielding portfolio of federal government debt like Pakistan Investment Bonds, Term Finance Certificates and National Saving Schemes. The fund’s equity portfolio has also posted a healthy return of 28.8pc during the outgoing financial year,” the documents say.

Just In: Dunya Group acquires 70% shares of WorldCall

Just In: Dunya Group acquires 70% shares of WorldCall Nayab KhanLast Updated: Feb 18, 2021 Dunya Group has bought 70% shares in WorldCall from Omantel for an undisclosed amount, we have checked with sources who were part of the deal. Early reports suggest that deal between Dunya Media Group and Omantel that had 70% shares in WorldCall was signed yesterday and details are likely to be made public during next few days. It merits mentioning here that 12% shares in WorldCall reside with Salman Taseer (late) while another 18% shares are floated publicly in Pakistan Stock Exchange. Omantel had bought 65% controlling stakes in WorldCall in 2008 for $193 million. It later bought preferred shares of the company as well.

Panther Tyres raises Rs2.63b in IPO

Panther Tyres raises Rs2.63b in IPO Financing will be utilised for expansion of its tyre, tube manufacturing capacity 10 of 20 funds outperformed benchmark 100 index. PHOTO: FILE Panther Tyres Limited raised funds worth Rs2.63 billion through auction of 40 million shares to institutional, rich individual and retail investors at the Pakistan Stock Exchange (PSX) on Thursday. The financing will be utilised for expansion of its tyre and tube manufacturing capacity. The company got a share price of Rs65.8 each during the two-day (Jan 27-28) bidding process, which is better known as book building. The company made a new record during the auction as it sold shares at the upper limit. As per details, the company opened bidding at Rs47 per share, which could increase by a maximum of 40% to the upper limit of Rs65.8 in accordance with the prevailing laws.

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