【Daily】9 Sept. Brief of Pakistan BizNews

By Staff Reporter | Gwadar Pro Sep 9, 2021

-Daily Market-

KSE 100  46,396.71 ▼ 0.71% 
KMI 30  75,461.88 ▼ 1.32% 
KASB Tech Index  558.60 ▲ 0.70% 


KASB Market View

·         KSE-100 closed at a negative level of 46,396.71, heavy selling was seen after the announcement of the inclusion of Pakistan in the Frontier Market.

·         Rising coal prices remain a threat to the cement sector in the upcoming sessions as well.

·         Stocks with heavy weightage in the index including automobile, oil, cement, and banks experienced heavy selling partially because of the continuous PKR depreciation, this will continue to remain a matter of concern of these sectors.

International News

China welcomes ‘end of anarchy’ with new Afghan govt
China said Wednesday it welcomed the end of “three weeks of anarchy” in Afghanistan with the establishment of a new interim government in Kabul, pledging $31 million in immediate aid as it urged the Taliban to restore order.


US can work with a Taliban govt that fulfils its promises: Blinken
US Secretary of State Antony Blinken said on Wednesday that the United States could work with a Taliban government that fulfils its commitments and obligations, otherwise it will not


Ashraf Ghani apologizes to nation
Former Afghan President Ashraf Ghani, who fled Kabul as Taliban forces reached the outskirts of the city last month, apologized on Wednesday for the abrupt fall of his government but denied that he had taken millions of dollars with him.

National News
Kamyab Pakistan Programme: IMF flashlight likely to cast a bright beam
The Kamyab Pakistan Programme (KPP), a flagship programme of the present government, would be part of the discussions, among other things, with the Pakistani authorities during the upcoming review on $6 billion Extended Fund Facility (EFF) programme with International Monetary Fund (IMF).


Govt rejects objections by ECP to voting machines
The government on Wednesday rejected the objections raised by the Election Commission of Pakistan (ECP) to the electronic voting machines and expressed the resolve to go ahead with their use in the next general elections to ensure uncontroversial electoral exercise.

Toyota says will invest over $100m in HEV production
M/s Toyota has announced to invest over $100 million for the local production of Hybrid Electric Vehicle (HEV) in Pakistan, which will go towards localization of components, plant expansion and production preparation for the first Hybrid Electric Vehicle to be manufactured at Indus Motor Company Limited (IMC) plant located at Port Qasim, Karachi.

FBR won’t extend tax return deadline: official
he Federal Board of Revenue (FBR) will not extend the last date (September 30) for filing of income tax returns. This has been stated by the Commissioner Inland Revenue, Abbas Ahmed Mir, during his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI), here on Wednesday



Subsidies, inefficiencies blamed for power sector circular debt
Chairman, National Electric Power Regulatory Authority (NEPRA), Tauseef H. Farooqi said on Wednesday that exorbitant subsidies and inefficiencies of power sector are key factors behind the Rs2.4 trillion circular debt.

PM highlights importance of digitalized mapping
Prime Minister Imran Khan said on Wednesday that cadastral digitalisation of land mapping is the only way to defeat the land grabber mafia and benefit the overseas Pakistanis and increase revenue collection. https://www.brecorder.com/news/40119025/pm-highlights-importance-of-digitalised-mapping

Standard Chartered joins GDF Patron Board
Standard Chartered announced it has joined the Global Digital Finance (GDF) Patron Board, a unique international alliance of some of the world’s most innovative crypto natives, fintech companies and banks.

Pakistan suggests inviting Afghanistan to regional forum
Foreign Minister Shah Mahmood Qureshi, Wednesday, underscored the need for working on the key priorities to prevent a humanitarian crisis and prevent economic meltdown in Afghanistan that can exacerbate the sufferings of the Afghans.

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