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【Daily】8 Nov. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Nov 8, 2021

-Daily Market-

KSE 100 47,295.8  ▲ 0.16%  
KMI 30 76,577.4 ▲ 0.08%  

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.

https://www.brecorder.com/news/40131623/discos-domestic-consumers-ke-base-tariff-for-over-300-units-consumption-raised

 

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.

https://www.brecorder.com/news/40131743/inefficient-power-rlng-sectors-pso-receivables-hit-rs380464bn-mark

 

 Commodities and Currency: 1-Day Change

Gold: 

USD 1819.16 ▲ 0.10%  

Silver: 

USD 24.24 ▲ 0.33%  

Crude Oil

USD 83.76 ▲ 1.23%  

USD-PKR: 

 Rs 170.0/USD ▼ 0.20%  

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