【Daily】8 Nov. Brief of Pak BizNews
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KSE 100 47,295.8 ▲ 0.16% KASB Tech Index 520.76 ▼ -1.15%
· The recent power tariff and petroleum prices hikes have caused inflationary concerns amongst investors as we project CPI to touch double-digits by Dec21. · The upcoming monetary policy in Nov21 will likely hike interest rates by an addition 75bps in light of SBP’s guidance of medium-term positive real rates. · Cyclical stocks have been performing because of the recent slump in global commodity prices, particularly coal.
National News Pakistan secures LNG spot cargoes anticipating winter crunch Pakistan on Friday secured two spot liquefied natural gas (LNG) cargoes on much competitive rates to counter possible negative impacts of two cancelled cargoes scheduled for November. https://e.thenews.com.pk/detail?id=21520
Minimum support price of wheat set a Rs. 1950 per 40kg The government on Friday announced the minimum support price (MSP) of wheat at Rs. 1950/ per 40kg, an increase of Rs. 150 over last year’s rate of Rs. 1800 per 40kg. https://epaper.dawn.com/DetailNews.php?StoryText=06_11_2021_009_004
KLM’s new SUV to hit market next week Kia Lucky Motors (KLM), which is manufacturing and selling Korean Kia brand of cars in Pakistan, is set to launch a new locally assembled SUV, Stonic, next week, it said on Friday. https://www.thenews.com.pk/print/906642-klm-s-new-suv-to-hit-market-next-week
Cotton hits new highs on demand burst Cotton, seed-cotton, and the spot rates scaled another historic peak in the outgoing week, for the most part owing to a fresh burst in demand for quality lint, traders said. https://www.thenews.com.pk/print/906641-cotton-hits-new-highs-on-demand-burst
Perishables, staples push SPI up 0.67pc WoW, 15.21pc YoY Weekly inflation went up 0.67 percent week-on-week and 15.21 percent year-on-year during the seven-day period ended November 4, continuing on an upwards trajectory due to rising prices of perishables, staples, and LPG. https://e.thenews.com.pk/detail?id=21521
Power tariff also goes up after POL price hike The National Electric Power Regulatory Authority (NEPRA) has ratified the government’s decision to increase the price of electricity, paving way for an increase in the basic price of electricity. This followed late Thursday night the OGRA decision to hike fuel prices. https://e.thenews.com.pk/detail?id=21599
Roshan Digital Account attracts $2.7bn in 14 months Inflows through Roshan Digital Account (RDA) reached $2.7 billion in October since its launch in September 2020 reflecting the growing confidence of overseas Pakistanis despite Covid-19 related slowdown across the globe. https://www.dawn.com/news/1656468/roshan-digital-account-attracts-27bn-in-14-months
Discos' domestic consumers, KE: Base tariff for over 300 units' consumption raised The National Electric Power Regulatory Authority (Nepra) has raised base tariff for domestic consumers of Discos and KE using above 300 units monthly by Rs 1.68 per unit and Rs 1.39 per unit for other categories.
Inefficient power, RLNG sectors: PSO receivables hit Rs380.464bn mark Pakistan State Oil's (PSO) receivables have touched Rs380.464 billion due to inefficient power and RLNG sectors.
Commodities and Currency: 1-Day Change
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