PSE delays Rs200bn sukuk.


KARACHI -- The Pakistan Energy Sukuk-II (PES-II), a government-guaranteed Shariah-compliant security of Rs200 billion, which was to be on offer through the book building in the stock exchange from Tuesday has been delayed by 7-10 days, it was learnt on Monday evening.

The Power Holding Limited (PHL), a public sector entity fully owned by the Ministry of Energy, is issuing the second issue of the Energy Sukuk to address the liquidity constraints being faced by the country's power sector.

The debt instrument which is 100 per cent Statutory Liquidity Requirement SLR eligible having a 10-year maturity with semi-annual profit payment for investors would be the first ever debt issuance to go on offer through PSX book building.

Sources said the delay occurred as the government had to notify certain rules and regulations which could be completed in a couple of days.

Easypaisa sees surge in new users

Easypaisa, mobile banking platform of Telenor Microfinance Bank, has witnessed a 35 per cent increase in new activations since the lockdown, the company said in a press release.

Old customers using the service again also went up by 25pc while the number of daily transactions from the Easypaisa app has grown by 17pc since the lockdown.

The company further said there has been an surge of 184pc in bank transfers and around 15pc growth in airtime and bundle subscriptions in overall transactions.

Simultaneously, QR payments have been introduced at numerous retail outlets to allow contactless shopping experiences, the press release said.

Honda car prices raised

Honda Atlas Cars Ltd (HACL) has increaAAsed prices of various car models by Rs60,000-Rs120,000 with immediate effect.

The minimum increase of Rs60,000 and Rs65,000 was made in Honda City 1.3 manual and automatic versions while BR-V vehicles prices were raised by Rs80,000-100,000.

The prices of 1.5L and 1.8 models were swelled by Rs70,000-120,000, according to a letter issued to the authorised dealers.

Car assembling plants and their...

To continue reading