【Daily】26 Oct. Brief of Pak BizNews
KSE 100 45,429.21 ▼ 0.33%
KASB Tech Index 463.72 ▼ 0.06%
· The benchmark KSE-100 index settles at 45,429.21 due to limited investor participation as macro-economic concerns grow more apparent. Inconclusive talks with the IMF and rising oil prices also dented investor sentiment.
· Despite rising interest rate projections and falling coal prices, the banking and cement sector fell, cumulatively losing 199pts.
· E&Ps emerged as the top performing sector with a contribution of 27pts due to rising global oil prices.
Friendly countries: IMF outcome thus hinges on debt rollover
ISLAMABAD: An International Monetary Fund (IMF) condition for the successful conclusion of the ongoing sixth review talks with Pakistan authorities is the rollover of debt from friendly countries, including $1 billion from Saudi Arabia.
Increase in electricity tariff: Nepra blames dollar indexation, capacity payment to power plants
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) said on Monday that the main reasons for the increase in electricity tariff are dollar indexation and capacity payments to power plants.
Govt accepts rise in sugar, cooking oil, ghee prices
ISLAMABAD: An increase of 13.5 percent in the price of sugar has been recorded during the last one year (September 2020-2021), 37.3 percent in the price of cooking oil, and 40.7 percent in the price of vegetable ghee. This was stated by the Finance Ministry that said that per kilogram refined sugar price was increased to Rs107.59 in September 2021 from Rs94.79 per kg in September 2020 to Rs107.59, cooking oil 5kg Dalda to Rs1,726.75 from Rs1,257.90 and vegetable ghee Dalda per kg to Rs343.26 from Rs244.13, while 30kg wheat flour bag to Rs1,203 from Rs1,009.55.
Circular debt reaches Rs2.294trn in July-August
ISLAMABAD: The country's circular debt has reached Rs2.294 trillion during the first two months (July-August) 2021-22 as compared to Rs2.237 trillion in the same period 2020-21. Of the total amount Rs1.265 trillion is related to power producers, Rs103 billion to Gencos' payable to fuel suppliers and Rs926 billion is parked in Power Holding Limited (PHL).
July-September: $3.204bn foreign debt incurred in 1Q
ISLAMABAD: Pakistan incurred foreign debt of $3.204 billion from multiple financing sources in the first quarter (July-September) of 2021-22 including $457.54 million from foreign commercial banks (14 percent) against the total budgeted external loans of $14.088 billion for the entire fiscal year.
Against USD: Pakistan's rupee continues to depreciate, ends at 174.43
Pakistan's rupee continued to depreciate against the US dollar, falling another 0.25% to close at 174 .43 in the inter-bank market on Monday.
CDWP recommends two Rs345.63bn projects to Ecnec
ISLAMABAD: The Central Development Working Party (CDWP) has recommended two projects at the cost of Rs345.63 billion to the Executive Committee of the National Economic Council (Ecnec) for further consideration and final approval. The CDWP met with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan in the chair at P-Block Secretariat on Monday.
Commodities and Currency: 1-Day Change