【Daily】17 Dec. Brief of Pak BizNews
KSE 100 43,731.20 ▼ 1.43%
KMI 30 70,772.47 ▼ 1.57%
KASB Tech Index 451.33 ▼ 0.03%
KASB Market View
Forex reserves down $123m
According to State Bank of Pakistan (SBP) weekly foreign exchange report issued Thursday, Pakistan’s total liquid foreign exchange reserves stood at $ 25.028 billion as on 10th December-2021 compared to $ 25.151 billion a week earlier.
Govt all set to increase power base tariff
The Federal Government is all set to increase electricity base tariff by up to Paisa 95 per unit under the garb of second phase of subsidy reforms agreed with International Monetary Fund (IMF) and World Bank (WB), which according to Chairman Nepra will further erode the quality of life of the public.
Textile, auto policies approved by ECC
A meeting of the Economic Coordination Committee (ECC) of the Cabinet has approved Textile and Apparel Policy, 2020-25 as well as Auto Industry Development and Export Policy (AIDEP), 2021-26.
LSM grows 1.86 percent in October
Large-scale manufacturing sector grew marginally 1.86 percent during the month of October compared to September, the Pakistan Bureau of Statistics (PBS) data showed on Thursday.
PRL shuts down refinery on weak furnace oil demand, inventory glut
Pakistan Refinery Limited (PRL) on Thursday shut down its operations on dwindling fuel oil demand in the country and abundance of inventories.
UAE firm to invest $15mln
Adviser to PM on Commerce and Investment, Abdul Razak Dawood on Thursday informed that Brothers Gas, a United Arab Emirates (UAE) energy group, has announced investment worth $15 million in Faisalabad special economic zones (SEZ).
ECC approves removal of incremental block tariff in power sector subsidies
The Economic Coordination Committee of the Cabinet on Thursday approved removal of one slab benefit (incremental block tariff) and incorporation of revised subsidy and inter-distribution companies tariff rationalization/cross-subsidies under Retargeting of Power Sector Subsidies Phase –II.
OGDCL injects additional oil, gas in system
The Oil and Gas Development Company Limited (OGDCL) injected four operated wells, producing 69,770 barrels (bbl) crude oil and 184 million cubic feet (mmcf) gas in its production gathering system during the first quarter of the current fiscal year.
Govt to exempt 16 PNSC subsidiaries from PSCG rules
The Federal Cabinet is to relax applicability of Public Sector Companies Corporate Governance (PSCG) Rules, 2013 in respect to subsidiaries of Pakistan National Shipping Companies (PNSC), official sources told Business Recorder.
Commodities and Currency: 1-Day Change