Pak national exchequer robbed of billions to benefit private TV channel

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New Delhi, Jan 10 | The insider story of the controversial and alleged illegal partnership between Pakistan Television (PTV) and the private ARY channel has come to light, The News International reported.

Details obtained by Geo News reveal that the Pakistan national exchequer was robbed of billions of rupees to benefit the private news channel, which had no sports channel when it was made a partner in the ICC broadcasting rights.

The whole game started in August 2021, when PTV released a tender for partnership in the ICC broadcasting rights, which did not mention the Pakistan Super League (PSL).

It is worth noting that the ARY consortium was involved in the ICC broadcasting when its sports channel “A Sports” had no existence and no licence.

The PTV board of directors also remained unaware of the issue.

The PSL was not mentioned in the August 2021 ICC broadcasting rights tender and PTV Sports kept the PTV Board of Directors in the dark, obtained its approval for partnership with Ten Sports but then quietly partnered with A Sports, the report said.

Under the “expression of interest” of August 2021, an attempt was made to favour ARY as the PTV contract was with the consortium of Group M and ARY.

But for the PSL, the party was changed and a consortium was made only with ARY.

PTV, which runs on public money, has not yet provided details of the August 2021 agreement, which cost Pakistan’s state-owned channel and national exchequer billions of rupees, the report added.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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