MONEY EXCHANGE COMPANIES

 May 23 - May 29, 2005 
ISSUE # 21 

The 9/11 incident made the world think and take corrective steps to check, monitor and control movement of money from one country to another country. It was the global consensus that undocumented flow of funds to the undesirable elements has to be checked and money laundering business has to be stopped. Pakistan could not afford to be left behind and let the world raise a finger. Among the various measures introduced to check flow of funds, the government took steps to bring money changers' business under stringent control.

STOCKS MARKET TUMBLING

 

 

The shock waves of the stock market crash are still giving sleepless nights to the investors after the recent jolt to the high flying KSE-100 index, which caved in from soaring 10,000 points to creep below 7000 points. The apparent reasons for the crash, which has become the talking point from a house wife to a big business houses, are attributed to the amendments in stock exchange regulations including phasing out of badla financing and amendments in future trade rules, some of the market players were, however, of the view that there was more than what it meets the eye in the capital market.

NATIONAL REFINERY LIMITED
Strategic sale of 51 per shares of the National Refinery Limited (NRL) is estimated to bag an attractive price on the back of extra ordinary financial results achieved during first 9 months of the current financial. Informed sources told PAGE that a hot contest is anticipated amongst 7 short listed contenders at the bidding which is likely to be called on May 31. The government is off-loading 51 percent of stake which comes to around 33,985,788 shares each at a tentative price of Rs370/, however, the actual worth would be known after the event.

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