【Daily】1 Dec. Brief of Pak BizNews
KSE 100 45,072.4 ▼ 0.57%
KMI 30 73,210.7 ▼ 0.10%
KASB Tech Index 444.1 ▲ 1.37%
· Higher than anticipated CPI may dent the investor’s sentiment and reinforces our stance for a further rate hike in monetary policy due on Dec 14, 2021.
· With the conclusion of MSCI rebalancing, we think that market participants await finalization of IMF agreement and realization of Saudi Package. These would be key positive triggers for the market.
· Sectors contributing to the performance included commercial banks (-160 points), fertiliser (-78 points), investment banks (-18 points), fast moving consumer goods (-16 points) and textile composite (-13 points).
Nov CPI up 11.53pc YoY
The Consumer Price Index (CPI) witnessed an increase of 11.53 percent on year-on-year basis in November 2021 as compared to an increase of 8.3 percent in November 2020, says the Pakistan Bureau of Statistics (PBS).
FBR records Rs298bn increase in Jul-Nov collection
The Federal Board of Revenue (FBR) has provisionally collected net revenue of Rs2,314 billion during July-November (2021-22) against the assigned target of Rs2,016 billion, reflecting an increase of Rs298 billion.
Saleem replaces Soomro as PC board chairman
The federal government has relieved Minister for Privatisation Mohammed Mian Soomro from the position of Chairman Privatisation Commission Board by appointing new chairman Saleem Ahmed, who has worked in JP Morgan.
POL products’ prices remain unchanged; Rate of PL on ex-depot sale of petrol, HSD increased
The federal government on Tuesday decided not to decrease the prices of petroleum products for the next fortnight and increased the rate of petroleum levy (PL) on ex-depot sale of petrol and High Speed
LPG cylinder price reduced
The Oil and Gas Regulatory Authority (OGRA), on Tuesday, reduced LPG domestic cylinder price by Rs168.91 with effect from today (Wednesday). The revised price of LPG cylinder is reduced from Rs2,559.35 to Rs2,390.44 or seven percent for the month of December.
Levy of GST on subsidy given to Discos; FBR-PD row to land in ECC, again
A dispute between Federal Board of Revenue (FBR) and Power Division on levy of GST on the subsidy given to power Distribution Companies (Discos) by the federal and provincial governments will again land in the Economic Coordination Committee (ECC) of the Cabinet for final decision.
FCA for Oct 2021; Nepra approves Rs4.74/unit raise in Discos’ tariffs
The National Electric Power Regulatory Authority (Nepra) Tuesday approved, in principle, an increase of Rs 4.74 per unit in tariffs of power Distribution Companies (Discos) for October 2021 under monthly Fuel Component Adjustment (FCA). The move came after the Chairman Nepra termed the establishment of imported fuel-based power plants as a “mistake” of previous authorities and censured Power Division for not accepting 12 renewable power project whose tariffs were already approved by the regulator.
Govt starts paying Rs134.8bn to IPPs as Discos’ equity
The government has started making payment of Rs134.8 billion to the IPPs of pre-1994 policy, 1994 and 2015 policies as equity of power Distribution Companies (Discos) instead of outstanding subsidy.
Commodities and Currency: 1-Day Change