【Daily】9 Dec. Brief of Pak BizNews
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KSE 100 43,846.87 ▼ 0.02% KMI 30 70,595.74 ▼ 0.19% KASB Tech Index 442.08 ▲ 3.41% KASB Market View
National News Rupee weakens to fresh record low The rupee dropped to a new all-time low on Wednesday amid higher import payments and worries about the outlook for the country’s external sector, dealers said. https://www.thenews.com.pk/print/915245-rupee-weakens-to-fresh-record-low
RLNG price reduced The Oil and Gas Regulatory Authority (OGRA), on Wednesday, reduced the price of RLNG for December by around $3 per mmbtu as compared with November 2021. https://epaper.brecorder.com/2021/12/09/1-page/910596-news.html
Fitch foresees further hike in interest rate The Fitch Ratings agency has anticipated further interest-rate hike for Pakistan. The ratings agency in its latest report, “Fitch Ratings 2022 Outlook: Asia-Pacific Sovereigns”, stated that monetary policies will also remain supportive. https://www.brecorder.com/news/40138860/fitch-foresees-further-hike-in-interest-rate
Edible oils: Ministry asked to go for low-priced imports Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has asked the Ministry of Industries and Production to control the prices of edible oil in the domestic market by importing palm and soybean oil from the international market at relatively lower prices. https://www.brecorder.com/news/40138858/edible-oils-ministry-asked-to-go-for-low-priced-imports Fast-track basis: China, Pakistan agree to promote investment, industrial cooperation Talking to Business Recorder, a senior official of the Economic Affairs Division (EAD) said that the 15th session of Pakistan-China Joint Economic Committee on Economic, Trade, Scientific and Technical Cooperation (JEC) was held after a gap of 11 years.
Power Div authorised to recover ‘excess profit’ from NCPL The Cabinet Committee on Energy (CCoE) has authorized Power Division to secure alleged excess profits of Rs 8.36 billion from Nishat Chunian Power Limited (NCPL), established under Power Policy 2002, well informed sources told Business Recorder. https://www.brecorder.com/news/40138854/power-div-authorised-to-recover-excess-profit-from-ncpl
Rising import bills: Senate body seeks ban on imported cars, cosmetics, luxury items The Senate Standing Committee on Finance and Revenues has recommended to the government for imposing a ban on the import of cars, cosmetics, and other luxury items for a limited timeframe in order to curb rising import bills.
Mohmand Dam’s 1st unit to start working by Dec 2025 Pakistan Water & Power Development Authority (WAPDA) on Wednesday said first unit of Mohmand Dam project will start working by December 2025.. https://www.thenews.com.pk/print/915251-mohmand-dam-s-1st-unit-to-start-working-by-dec-2025
Cinergyco taps buyers to export overstored furnace oil Cinergyco PK Ltd, formerly Byco Petroleum Pakistan Limited, has engaged potential buyers including oil giant Exxon to export furnace oil (FO), which is currently overflowing from its storage facilities as local demand has dried up, The News has learnt. https://www.thenews.com.pk/print/915248-cinergyco-taps-buyers-to-export-overstored-furnace-oil
Commodities and Currency: 1-Day Change
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