Market summary – RSL Securities

Karachi, November 08, 2013 (PPI-OT): Daily News Summary

Pakistan and Bangladesh (BD) would share their respective sectoral strengths with each other for the economic well being of the two countries.

According to RSL Securities Limited, Lahore Chamber of Commerce and Industry (LCCI) and Bangladesh High Commission (HC) would act as a facilitator in this regard. Bangladesh HC to Pakistan Suhrab Hossain and LCCI President Sohail Lashari on Thursday said under the consensus the two countries should share their strengths and weaknesses with each other at govt-to-govt and chamber-to-chamber levels to create a win-win situation as far as two economies were concerned.

Urea off take in Pakistan surged by 24 percent in the 10 months period of 2013 to 4.6 million tonnes as compared to the total urea off take of 3.7 million tonnes in same period of 2012, according to the latest fertilizer off take numbers. On the other hand, urea sales dropped by 10 percent on monthly basis to 454,000 tonnes in October 2013 as against 505,000 tonnes in the month of September this year.

Shell will launch a new promotion in collaboration with Ferrari and the LEGO Group. The unique range of limited edition LEGO models and LEGO Mini figures will be available in Pakistan with the purchase of Shell Helix Synthetic Motor Oils and Shell Super. The new Shell promotion introduces six exclusive LEGO models that are based on some of the most iconic vehicles in Ferrari’s motoring history.

A steel sector delegation of local industrialists led by Shaban Khalid President Islamabad Chamber of Commerce and Industry (ICCI) called on Ms Rana Seerat, Chief Commissioner Large Taxpayers Unit (LTU) Federal Board of Revenue (FBR) and asked for withdrawal of 4 percent withholding tax on steel industry’s local purchase as it was badly hurting their production activities.

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