【Daily】2 Sep. Brief of Pakistan BizNews

-Daily Market-

KSE 100  47,413.46 ▼ 0.01% 
KMI 30  77,663.99 ▲ 0.03% 

KASB Tech Index  540.10 ▲ 0.25% 

KSE-100 closed at a negative level of 47,413.46, even after remaining at a positive level for majority of the trading session.

Bank, cement, fertiliser, power and refinery sectors closed at negative level by the end of the trading session, whereas the technology sector led the index.

Technology sector recorded the highest trading volumes with a turnover of 253 mn shares.  

International News

US Treasury issued new licence to ease flow of aid in Afghanistan

 The United States last week issued a license authorizing it and its partners to continue to facilitate humanitarian aid in Afghanistan, a Treasury Department official told Reuters, after the Taliban, which is blacklisted by Washington, seized control of the country this month.

https://epaper.brecorder.com/2021/09/02/1-page/899123-news.html\

National News

Cotton production target revised downward
A meeting of the CCAC was held on Wednesday, the Cotton Crop Assessment Committee (CCAC) revised downward the cotton production target by 19.5 percent, i.e., from 10.5 million bales set for 2021-22 to 8.46 million bales.
https://www.brecorder.com/news/40117474/cotton-production-target-revised-downward 

Nepra agrees to allow Discos Rs1.38/unit hike
National Electric Power Regulatory Authority (Nepra) in a hearing has agreed in principle to allow an increase of Rs 1.38 per unit in Discos’ tariffs for July 2021 under monthly fuel price adjustment mechanism.
https://www.brecorder.com/news/40117472/nepra-agrees-to-allow-discos-rs138unit-hike 

Aug CPI up 8.4pc YoY
The Consumer Price Index (CPI) witnessed an increase of 8.4 percent on year-on-year basis in August 2021 as compared to an increase of 8.4 percent in the previous month and 8.2 percent in August 2020, says the Pakistan Bureau of Statistics (PBS)
https://www.brecorder.com/news/40117470/aug-cpi-up-84pc-yoy 

Govt steps up oil and gas imports
Pakistan has stepped up its oil and gas imports this year from last year as demand from its power sector increases amid more economic activities as coronavirus-induced restrictions are lifted, industry sources said.
https://www.brecorder.com/news/40117469/govt-steps-up-oil-and-gas-imports 

Aug trade deficit widens 133pc YoY
The country’s trade deficit has ballooned by 133 per cent to $ 4.055 billion in August 2021 from $ 1.740 billion in August 2020. According to provisional trade figures, imports of first two months (July-August) of 2021-22 reached $ 11.911 billion as compared to $ 6.994 billion in the corresponding period of 2020-21, posting a growth of over 70 per cent.
https://www.brecorder.com/news/40117468/aug-trade-deficit-widens-133pc-yoy 

Citizens below 18 years to be administered Pfizer shots: NCOC
The National Command and Operating Centre (NCOC) on Wednesday revised its Covid-19 vaccination guidelines for citizens below the age of 18.
https://www.dawn.com/news/1643881/citizens-below-18-years-to-be-administered-pfizer-shots-ncoc

Minister for improving mobile networks, internet services
Federal Minister for IT and Telecommunication Syed Aminul Haque, on Wednesday, directed for improving mobile network and internet services in the country. The meeting discussed matters related to cyber security, data protection, spectrum auction, connectivity and fibrisation.
https://www.brecorder.com/news/40117413/minister-for-improving-mobile-networks-internet-services 

Provinces, Centre told to work for GST harmonization
Federal Minister for Finance and Revenue Shaukat Tarin on Wednesday urged the provinces to work together for resolving pending taxation matters..
https://www.dawn.com/news/1644022/provinces-centre-told-to-work-for-gst-harmonisation 

Revised oil refining policy draft submitted to CCoE
A modified draft of the Pakistan Oil Refining Policy 2021 for streamlining tariff protections to fresh investments for new refineries or upgrades of existing refineries was submitted by the Petroleum Division to the Cabinet Committee on Energy (CCoE) on Wednesday
https://www.dawn.com/news/1644021/revised-oil-refining-policy-draft-submitted-to-ccoe 

Daily Change: 1-Day Change