En

【Daily】23 Dec. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Dec 22, 2021

-Daily Market-

KSE 100 44,177.07  ▼ 0.37%
KMI 30 71,273.17 ▼ 0.86%

KASB Tech Index 465.23 ▼ 0.40%

 

KASB Market View

·         The bears prevailed over the bulls on the previous trading day as KSE-100 closed on 44.177pts losing 162 pts as current account deficit widens.

·         The wait for announcement of Mini-Budget is likely to encourage prudent and cautious behaviour from investors.

·         Banks, Oil and Gas exploration and fertilizers were the top three negative contributors to the index.

National News

 

Cabinet defers Rs360b mini-budget

The federal cabinet on Tuesday delayed the approval of a mini-budget to the tune of Rs360 billion and a controversial central bank autonomy bill aimed at assessing their impact on the political capital of the ruling party and national security.

https://tribune.com.pk/story/2335089/cabinet-defers-rs360b-mini-budget%3Famp=1?s=08

 

STPF 2020-25 approved: Govt seeks to achieve $57bn export target

The Federal Cabinet on Tuesday approved the Strategic Trade Policy Framework (STPF) 2020-25, hoping to achieve export target of $ 57.03 billion by 2024-25.

https://www.brecorder.com/news/40141805/stpf-2020-25-approved-govt-seeks-to-achieve-57bn-export-target

 

Kandhkot field: PPL seeks govt nod to produce more gas

Pakistan Petroleum Limited (PPL) has sought government nod to produce additional 125 mmcfd gas from Kandhkot gas field to sell to any other buyer, revealing that Genco-IIs 747 MW unit is going to be sold to third party.

https://www.brecorder.com/news/40141803/kandhkot-field-ppl-seeks-govt-nod-to-produce-more-gas

 

Jul-Nov ICT export remittances increase 37.57pc to $1.05bn YoY

The ICT export remittances, including telecommunication, computer and information services for the period July-November fiscal year 2021-22 surged to $1.051 billion at a growth rate of 37.57 percent compared to $764 million during July-November fiscal year 2020-21.

https://www.brecorder.com/news/40141802/jul-nov-ict-export-remittances-increase-3757pc-to-105bn-yoy

 

Incentives restricted to new auto companies

The Federal Cabinet has reportedly rejected incentives for existing auto companies on manufacturing of new products, i.e., cars, vans, LCVs, 2-3 wheelers and tractors.

https://www.brecorder.com/news/40140215/adb-forecasts-higher-inflation

 

170m Euro Thar-New Chorr rail track: MoU signed

An MOU was signed between RAILCOP, Railway Constructions Pakistan Limited, M/s Al Furqan Holdings (Private) Ltd and BIL Pakistan (Pvt) Ltd to construct a new 105kms rail track connecting Thar Coal Block-II with New Chorr station on the Hyderabad-Mirpurkhas Rail link.

https://www.brecorder.com/news/40141794/170m-euro-thar-new-chorr-rail-track-mou-signed

 

All set for inking $1.5bn loan agreements with ADB

Pakistan and the Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday (today), it is learnt.

https://www.brecorder.com/news/40141791/all-set-for-inking-15bn-loan-agreements-with-adb

 

Acquiring of 84.51pc paid up capital: Samba Bank receives firm intention

Samba Bank Limited has received firm intention from a consortium through its manager to the offer, Arif Habib Limited, to acquire control of 852.040 million voting shares, representing 84.51 percent of paid up capital of the bank.

https://www.brecorder.com/news/40141792/acquiring-of-8451pc-paid-up-capital-samba-bank-receives-firm-intention

Punjab facing ‘fiscal challenges’, federal govt told

The Government of Punjab has urged the Federal Government to clear its longstanding dues including Net Hydel Profit (NHP) as the province is facing fiscal challenges on different accounts. This was stated by Secretary Finance Punjab, Iftikhar Ali Sahoo, in a letter to Federal Secretary Finance, in which the latter’s personal intervention has been sought for an effective resolution at the earliest.

https://www.brecorder.com/news/40141804/punjab-facing-fiscal-challenges-federal-govt-told

 

Daily Change: 1-Day Change

 Gold: 

USD 1788.65 ▲ 0.00% 

 Silver:

USD 22.532 ▲ 0.01% 

 Crude Oil

USD 71.41 ▲ 0.41% 

 USD-PKR: 

Rs 178.57/USD ▲ 0.24% 

  • comments
  • give_like
  • collection
Edit
More Articles