Monday, February 23, 2009

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Tuesday, February 17, 2009

Pakistan Meteorological Department

Introduction:

Pakistan Meteorological Department (PMD), being an attached department of the Ministry of Defence, is the principal scientific and technical organization which is engaged in the collection of real time diversified data for undertaking multifarious activities in the fields of meteorology, operational hydrology and seismology for the fulfilment of its objectives and obligations at the national and international levels. As a progressive organization, PMD aims at developing methods of observations and improving forecasting techniques vis-à-vis acquiring modern equipments and latest technologies together with capacity building and human resource development of its professionals.

Mission:

The primary mission of PMD is to timely disseminate its expertise and professional services to all the stakeholders for the protection of life and property against natural hazards, to utilize scientific knowledge and information as an effective instrument for ensuring safety, well being, and improvement in the life of the people and the environment, and to play its active role in promoting research activities in meteorology and allied disciplines for the socio-economic development of the country.

Vision:

PMD envisages in proving itself worthy of trust and confidence reposed in it through achieving standards in the accuracy, timely issuance and dissemination of its weather products in monitoring, analyses, forecasting and warning of weather systems to the best satisfaction of end users.



Objectives:

(a) To ensure timely issue of different types of weather/flood forecasts, warnings and advisories to the National News Media and concerned functionaries for:-

(i) the safety of civil aviation and marine operations
(ii) mitigation of disasters due to meteorological, hydrological and geophysical phenomena such as tropical cyclones, heavy rains, floods and earthquakes etc;
(iii) socio-economic development of the country based on climatic and agro-climatic potential of different areas, and
(iv) boosting up of agricultural productivity of the country by providing agromet services to the farming community.

(b) To investigate the behaviour of the atmosphere and exploiting this knowledge for short and long term weather predictions.

(c) To undertake R&D activities in various disciplines like numerical weather prediction, climate change, climate modelling, weather modifications, tapping of wind potential for power generation etc.





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INVESTOR SPECIFIC

The following plans and tax incentives are available to both investors and listed companies.

Foreign Investor - specific:
The foreign investors are freely allowed to operate in the capital market without any retention period.
There are no restrictions on the extent of foreign ownership stake and also no limit for holding the shares for trading purposes.
Funds invested in the capital market are freely transferable alongwith dividend income.
Foreign investors are treated at par with local investors in tax treatment.Local Investor specific:
Capital gains on sale of listed securities are exempt from income tax up to the year 2010. This exemption is available since 1974.
The dividend is subject to withholding tax at 10%.
Dividend income is taxed as a separate block of income in the hands of individual shareholders.
Any income derived from TFCs is subject to income tax with effect from income year 2001 – 2002.
General:
Listed companies are toned at 35%.
Provident funds can now invest in approved listed securities. They are also allowed to invest in open end mutual funds established under the Asset Management Companies Rules 1996.
No turnover tax is payable by companies on their turnover representing transactions in securities listed on stock exchanges.

GROWTH & PROGRESS * As on December 31, 2008

oday KSE has emerged as the key institution of the capital formation in Pakistan with:-
  1. Listed companies 653, securities listed on the exchange 692: ordinary share 653, Preference shares 14 and debt securities (TFC's) 25.

  2. Listed capital Rs.750,477.55 million (US$ 9,499.72 million).

  3. Market capitalization Rs.1,858,698.90 million (US$ 23,527.83 million).

  4. Average daily turnover 146.55 million shares with average daily trade value Rs.14,228.35 million (US$ 180.11 million).

  5. Membership strength at 200.

  6. Corporate Members are 187 out of which 9 are public listed companies.

  7. Active Members are 163.

  8. Fully automated trading system with T+2 settlement cycle.

  9. Deliveries through central depository company.

  10. National Clearing and Settlement System in place.

ABOUT KSE

HISTORY

Karachi Stock Exchange is the biggest and most liquid exchange and has been declared as the “Best Performing Stock Market of the World for the year 2002”. As on December 31, 2008, 653 companies were listed with the market capitalization of Rs. 1,858,698.90 billion (US $ 23,527.83 billion) having listed capital of Rs. 750.48 billion (US $ 9.50 billion). The KSE 100 Index closed at 5865.01 on December 31, 2008.

KSE has been well into the 4th year of being one of the Best Performing Markets of the world as declared by the international magazine “Business Week”. Similarly the US newspaper, USA Today, termed Karachi Stock Exchange as one of the best performing bourses in the world.

The market performing during the period June 1998 to December 2008 is given under.

DECADEWISE PROGRESS
YEAR
NO. OF LISTED COMPANIES
LISTED CAPITAL
(Rs. in million)
MARKET CAPITALISATION
(Rs. in million)
1950
15
117.3
-
1960
81
1,007.7
1,871.4
1970
291
3,864.6
5,658.1
1980
314
7,630.2
9,767.3
1990
487
28,056.0
61,750.0
2000
762
236,458.5
382,730.4