【Daily】17 Dec. Brief of Pak BizNews
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KSE 100 43,731.20 ▼ 1.43% KMI 30 70,772.47 ▼ 1.57% KASB Tech Index 451.33 ▼ 0.03% KASB Market View
National News 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. https://www.brecorder.com/news/40140750/forex-reserves-down-123m
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. https://www.brecorder.com/news/40140790/govt-all-set-to-increase-power-base-tariff
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. https://www.brecorder.com/news/40140792/textile-auto-policies-approved-by-ecc
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. https://www.thenews.com.pk/print/917420-lsm-grows-1-86-percent-in-october
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). https://www.thenews.com.pk/print/917426-uae-firm-to-invest-15mln
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. https://www.thenews.com.pk/print/917423-ogdcl-injects-additional-oil-gas-in-system
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. https://www.brecorder.com/news/40140753/govt-to-exempt-16-pnsc-subsidiaries-from-pscg-rules
Commodities and Currency: 1-Day Change
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