【Daily】6 Aug. Brief of Pak BizNews
-Daily Market-
KSE 100 47,640.88 ▼ 0.31%
KMI 30 77,209.36 ▼ 0.29%
KASB Tech Index 484.51 ▼ 0.06% ·
The stock market on Wednesday snapped a stuck in a limbo and went down by nearly 191 points on the back of absence of any notable upside triggers.
Threats of cellphone blocks, work bans boost Pakistan's vaccination rate
KASB Market View
We think COVID-19 infection rates (9.07%) and the economic concerns will overshadow the result season.
Defensive and high-yielding stocks are likely to garner investors’ attention during uncertain times. Stocks within IPPs and Fertilizers may gather momentum.
The weakening of the Pak Rupee to 164.2 is likely to improve the outlook for Textiles.
National News
3,582 Covid-19 infections with a positivity ratio of 7.19pc recorded: NCOC
ISLAMABAD: Pakistan, Tuesday, recorded 3,582 Covid-19 infections with a positivity ratio of 7.19 percent taking the national tally to 1,043,277 since the pandemic outbreak, the National Command and Operation Centre (NCOC) Covid-19 data revealed.
Steel, scrap: FBR fixes higher values for enhanced ST collection
The Federal Board of Revenue (FBR) has fixed higher values of locally-produced steel and scrap products for collection of sales tax during 2021-22.
Plan to absorb Gencos’ employees in Discos hits a snag
The government’s plan to absorb 1700 employees of power generation companies (Gencos) in distribution companies (Discos) hits a “snag” as the employees have obtained stay order from a high court.
https://www.brecorder.com/news/40111623/plan-to-absorb-gencos-employees-in-discos-hits-a-snag
Artificial intelligence and innovative ways: More people to be brought into tax net: Tarin
The Federal Minister for Finance and Revenue, Shaukat Tarin Thursday said that efforts are under way to bring more people into the tax net by using artificial intelligence and innovative ways.
Apparel sector: Hike in cost of shipping creating trouble
After the exorbitant hike in cost of shipping lines the major global logistic and airfreight companies have also increased their courier as well as cargo rates by up to 70% during last 6 months, affecting the exporters generally and creating trouble for the apparel sector's SMEs.
https://www.brecorder.com/news/40111553/apparel-sector-hike-in-cost-of-shipping-creating-trouble
Govt preparing roadmap for fresh census, ECP told Federal government, Thursday, said it would hold fresh population census across the country and a proposal is under consideration to share the census results with Election Commission of Pakistan (ECP) by December 31 next year.
https://www.brecorder.com/news/40111589/govt-preparing-roadmap-for-fresh-census-ecp-told
Wapda hopeful about early start of Dasu project work
The Water and Power Development Authority has decided to involve the Chinese ambassador to convince the Gezhouba Group Company for the resumption of work on the Dasu hydropower project.
https://www.dawn.com/news/1638819/wapda-hopeful-about-early-start-of-dasu-project-work
Govt moves to ensure transparency in LNG buying
Taking some corrective measures in procurement of Liquefied Natural Gas (LNG), the government on Wednesday ordered its two entities — Pakistan State Oil and Pakistan LNG Ltd — to make public disclosure of bidding results in a timely manner to ensure transparency.
https://www.dawn.com/news/1638875/govt-moves-to-ensure-transparency-in-lng-buying
Threats of cellphone blocks, work bans boost Pakistan's vaccination rate
Tens of thousands of Pakistanis are thronging coronavirus vaccination centres daily after officials announced penalties for the unvaccinated, including blocked cell phones and barred access to offices, restaurants, shopping malls and transport.
Punjab reports highest number of daily virus cases
With 1173 fresh infections and 18 more coronavirus related fatalities during the last 24 hours, Punjab has reported the highest number of daily virus cases since May 19, when it reported 1189 cases
https://epaper.brecorder.com/2021/08/06/2-page/895993-news.html
Roshan Digital Account inflow reaches $1.87bn
The inflow through Roshan Digital Account reached $1.87 billion at the end of July, with the first month of the current fiscal year witnessing the second highest inflow since the RDA was launched in September last year.
Commodities and Currency: 1-Day Change
Gold: USD 1,802.60 ▼ 0.35%
Silver: USD 25.12 ▼ 0.67%
Crude Oil USD 69.17 ▼ 0.00%
USD-PKR: Rs 164.20/USD ▲ 0.43%
