【Daily】29 Oct. Brief of Pak BizNews
KSE 100 45,990.73 ▲ 0.43%
KASB Tech Index 471.25 ▼ 0.59%
· The market may remain cautious over ongoing political issue , with TLP protests entering its 8th day today.
· The concerns over glitches of trading terminal subdued at the end of last trading session and may result in increased volumes.
· The earnings surprise in the ongoing result season may further see increased interest in some particular stocks for the day. Important result announcements include HUBC,NML,NCL.
Finance ministry warns of higher inflation
Recording fiscal deficit during the first two months of the current fiscal year unchanged at 0.9 per cent of GDP, the finance ministry on Thursday warned that the exchange rate, commodity supplies and seasonality could intensify the magnitude of prices and transportation costs in the country.
PM reconstitutes ECC; Ayub new chairman
Prime Minister Imran Khan has re-constituted the Economic Coordination Committee (ECC) of the Cabinet to be headed by Minister for Economic Affair Division (EAD) Omar Ayub as Shaukat Tarin after being made an adviser was no longer be able to preside the ECC
SBP's foreign exchange reserves decline $346 million, now stand at $17.146 billion
Foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $346 million on a weekly basis to $17.146 billion on October 22. The central bank did not provide a reason behind the decrease.
PM Imran wants privatisation process expedited
Prime Minister Imran Khan on Thursday directed the authorities concerned to expedite the process of privatisation of loss-making state-owned enterprises (SOEs).
4th Russia-Pakistan JTC meeting concludes successfully
Pakistan and Russia have successfully concluded the 4th Russia-Pakistan Joint Technical Committee meeting in Islamabad, on Thursday. The parties discussed the draft Shareholders Agreement (SHA) of the Pakistan Stream Gas Pipeline Project (PSGP).
PM convenes NSC meeting today: Dialogue only when sit-in ends, says govt
Prime Minister Imran Khan on Thursday summoned a meeting of the National Security Committee (NSC) today (Friday) to discuss the ongoing situation in the country pertaining to the protests launched by the proscribed Tehreek-e-Labbaik Pakistan (TLP).
FATF standards: SECP says steps taken to ensure implementation
The Securities and Exchange Commission of Pakistan (SECP) has taken a wide range of measures to ensure implementation of the FATF standards in financial sectors, ie, stockbrokers, Modarabas, insurance companies, corporate sector, and non-profit organisations (NPOs).
ST on toll manufacturing to be collected
The Federal Board of Revenue (FBR) has directed its field formations to start collecting sales tax on toll manufacturing.
Against USD: Pakistan's rupee continues to recover, closes at 172.26
Pakistan's rupee showed strength against the US dollar for the second successive day, closing at 172.26 in the inter-bank market on Thursday.
Bizenjo to be elected Balochistan CM unopposed
Abdul Quddus Bizenjo will certainly be elected as the new chief minister of Balochistan as no other candidate has submitted nomination papers for the post. The chief minister's seat was vacated after former Balochistan chief minister Jam Kamal Khan stepped down from the post on Sunday.
Commodities and Currency: 1-Day Change