【Daily】24 Dec. Brief of Pak BizNews
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KSE 100 44,266.90 ▼ 0.00% KASB Tech Index 473.34 ▲ 0.20%
KASB Market View · The KSE-100 index closed on 44,266 pts losing 2.1 pts on the back uncertainty prevailing in the market regarding the mini budget. · The auction of T-Bills on 29th December and IMF review on 12th January with the possible announcement of Mini-Budget next week can provide to be the next triggers for the market.
National News
IMF to take up sixth review of its programme on Jan 12 The government says its sixth review of the $6 billion Extended Fund Facility (EFF) for Pakistan will be taken up by the executive board of the International Monetary Fund (IMF) on Jan 12, paving the way for disbursement of about $1bn tranche. https://www.dawn.com/news/1665482/imf-to-take-up-sixth-review-of-its-programme-on-jan-12
SBP-held forex reserves down $415mn due to external debt repayment Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased $415 million on a weekly basis, clocking in at $18.15 billion, showed data released on Thursday.
Govt gets $4.6bn foreign loans in five months The PTI government received about $4.6 billion in foreign loans during the first five months (July-November) of the current fiscal year, taking its total loan inflows to about $40bn since July 2018. https://www.dawn.com/news/1665491/govt-gets-46bn-foreign-loans-in-five-months
Task force activated to allow more LNG imports via Gwadar port The Cabinet Committee on Energy (CCoE) on Thursday issued directions for activation of a task force as required under LNG Policy 2011 and asked the ministries of Maritime Affairs and Energy to come up with their considered views with clarity on how to allow additional future Liquefied Natural Gas (LNG) imports through Gwadar Port. https://www.dawn.com/news/1665511/task-force-activated-to-allow-more-lng-imports-via-gwadar-port
Duties waived on import of many items from Kabul The government has waived additional customs duty and regulatory duty on several items and reduced duty on import of essential goods from Afghanistan for six months. https://www.dawn.com/news/1665512/duties-waived-on-import-of-many-items-from-kabul
Govt misses petroleum levy target The federal government has been able to generate only seven percent of petroleum levy (PL) in the first five months (July-November 2021) of the current financial year 2021-22.
Rupee inches up The rupee gained slightly against the dollar in the interbank market on Thursday, closing at 178.12 per dollar, compared with Wednesday’s close at 178.15. https://www.thenews.com.pk/print/919349-rupee-inches-up
Petrol storage capacity up by 38.7pc, HSD 18.4pc The government has enhanced storage capacity of Motor Spirit by 38.7 percent and High Speed Diesel by 18.4 percent in a two-year period to reinforce existing deposits and ensure uninterrupted supply of petroleum products across the country. https://www.thenews.com.pk/print/919348-petrol-storage-capacity-up-by-38-7pc-hsd-18-4pc
Fertiliser makers seek new policy, deregulation Pakistan needs to introduce new fertiliser policy to jump-start urea production in the country, said one of the top executives of the industry on Thursday. https://www.thenews.com.pk/print/919347-fertiliser-makers-seek-new-policy-deregulation
Electricity Distribution Efficiency Improvement Project: Agreements worth $195m signed with WB The government of Pakistan signed financing agreements of Electricity Distribution Efficiency Improvement Project worth $195 million with the World Bank, here on Thursday. https://www.brecorder.com/news/40142262/electricity-distribution-efficiency-improvement-project-agreements-worth-195m-signed-with-wb
‘Covid-19 Fund’ being established The Finance Ministry said that the federal government has decided to establish a Special Purpose Fund namely, “Covid-19 Fund” out of the unutilised stimulus package in terms of Public Finance Management (PFM) Act, 2019. https://www.brecorder.com/news/40142272/covid-19-fund-being-established
Daily Change: 1-Day Change
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