【Daily】30 Sept. Brief of Pak BizNews
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KSE 100 44,366.74 ▼ 2.01% KASB Tech Index 534.64 ▼ 3.22%
· The benchmark KSE-100 index plummeted over 1,200 points in intra-day trading owing to the geopolitical concerns for Pakistan. · The cement sector remains under pressure due to the rising international coal prices which crossed USD 190/MT. · Weakened Pak rupee, higher energy prices, along with inflationary concerns remains a threat for cyclical stocks.
National News $38bn export target set thru consultations with stakeholders: Dawood Prime Minister’s Adviser on Commerce Abdul Razak Dawood has said that the government has set export target of $38 billion for the current fiscal year in consultations with the relevant stakeholders.
Alarm over anti-Pakistan bill moved in US Senate The bill moved in the US Senate seeking to assess Pakistan’s alleged role in Afghanistan before and after the fall of Kabul to Afghan Taliban set alarm bells ringing in the upper house of parliament on Wednesday. https://www.dawn.com/news/1649226/alarm-over-anti-pakistan-bill-moved-in-us-senate
PML-N tenure: PM tasks FIA to probe ‘high-cost’ road projects Prime Minister Imran Khan on Wednesday said he had given mandate to the Federal Investigation Agency (FIA) to probe the exorbitant cost incurred on the road construction projects undertaken by the government of Pakistan Muslim League-N https://www.brecorder.com/news/40123606/pml-n-tenure-pm-tasks-fia-to-probe-high-cost-road-projects
FO strongly reacts to proposed US bill move Pakistan on Wednesday reacted to the proposed bill under discussion in the US Senate that seeks to impose sanctions on the Taliban, its supporters, as well as, to assess Pakistan’s alleged role behind the fall of Kabul and Panjshir, describing the move as completely unwarranted and inconsistent with the spirit of the two countries cooperation on Afghanistan since 2001. https://www.brecorder.com/news/40123608/fo-strongly-reacts-to-proposed-us-bill-move
Deferred payments: KSA once again turns oil tap on for Pakistan Finance Minister Shaukat Tarin on Wednesday informed the National Assembly that an agreement to get oil from the Kingdom of Saudi Arabia (KSA) on deferred payment has been finalised.
Effective Sept 27: 7pc ACD levied on cars, jeeps and other CKD vehicles The Federal Board of Revenue (FBR) has imposed seven percent additional customs duty, from September 27, on the import of cars, jeeps, light/heavy commercial vehicles in completely knocked down (CKD) condition and components and sub-assemblies of automotive vehicles.
Govt successfully completes six actions to cut circular debt: Omar Federal Minister for Economic Affairs Omar Ayub Khan said that Pakistan successfully completed six actions to reduce circular debt flow through reducing power generation costs, decarbonising energy mix, improving efficiency, and retargeting electricity subsidies under Program for Affordable and Clean Energy (PACE-I).
FBR receives 150,000 tax returns in a single day The Federal Board of Revenue (FBR) has received record number of 150,000 income tax returns in a single day, ie, on September 28. https://www.brecorder.com/news/40123620/fbr-receives-150000-tax-returns-in-a-single-day
Tarin proposes Pakistan Post-banks JVs Finance Minister Shaukat Tarin has proposed that Pakistan Post (PP) should enter into Joint Ventures (JVs) with established banks, which would help raise the national savings rate. https://www.brecorder.com/news/40123547/tarin-proposes-pakistan-post-banks-jvs
Accord reached for another Saudi oil facility: Tarin With prices of petroleum products set to increase on Thursday (today), Finance Minister Shaukat Tarin has disclosed that an agreement for another Saudi oil facility on deferred payments has been reached and would be formally announced within two to three days. https://www.dawn.com/news/1649228/accord-reached-for-another-saudi-oil-facility-tarin
Daily Change: 1-Day Change
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