【Daily】28 Dec. Brief of Pak BizNews
KSE 100 43,913.44 ▼ 0.46%
KASB Tech Index 460.02 ▼ 1.32%
KASB Market View
· The KSE-100 index closed on 43,913 pts with trading volumes remaining thin as uncertainty remains over the announcement of Mini-Budget.
· The market is expected to remain range bound owing to lack of any positive triggers.
· Overall trading volumes fell to 114.7 million shares compared with Friday’s tally of 223.4 million. The value of shares traded during the day was Rs4.4 billion.
Conditional gas supply to textile sector approved
After a month-long impasse, the government on Monday conditionally agreed to provide 50 per cent gas supply to textile manufacturers for co-generation on a best effort basis provided they surrender in writing their stay orders and get their energy audits conducted.
Agriculture sector being transformed on priority: PM Imran
The government has chalked out a comprehensive agricultural transformation plan “for the very first time in the country’s history” and was implementing it on a priority basis, Prime Minister Imran Khan said on Monday.
CPPA chides NTDC for Rs16bn power sector loss
The Central Power Purchasing Agency (CPPA) has reprimanded the National Transmission and Dispatch Company (NTDC) for causing a loss of Rs15.705 billion to the power sector on account of disallowed fuel cost against the economic merit (EM) order deviation.
NSP envisaging economic security to the core approved
The government has approved National Security Policy (NSP) envisaging economic security to the core on Monday.
Ministry’s forecast: Remittances to keep current account deficit ‘manageable
Highlighting two major challenges, including increasing current account deficit and higher inflationary pressures, the Ministry of Finance in its forecast has relied on higher and stabilized remittances, then the current account deficit would become manageable and financeable. “Assuming stable remittance inflows, the expected improvement in the trade balance will be reflected in declining current account deficits, such that these deficits remain manageable and financeable,” the Ministry of Finance stated in its Monthly Economic Update & Outlook released here on Monday.
Tarin takes oath as federal minister for finance
Shaukat Tarin was sworn in as Federal Minister for Finance on Monday after becoming senator from Khyber-Pakhtunkhwa on a seat vacated by Senator Afridi.
National Refinery shuts down operations as FO stocks pile up
National Refinery Limited (NRL), reeling from months of lackluster fuel oil demand and an abundance of inventory, has temporarily shut down its operations
CDWP gives go-ahead to Rs191.72bln worth of projects
The Central Development Working Party (CDWP) on Monday, approved one development project with a cost of Rs528.4 million and also recommended project worth Rs191.195 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration.
Surplus of rice to be exported: minister
Federal Minister for National Food Security and Research Syed Fakhar Imam said on Monday that surplus stock of rice would be exported and new markets were being explored globally.
Urea fertilizer: PM orders action against hoarders, profiteers
Prime Minister Imran Khan has directed the provincial governments to take action against hoarders and profiteers and those involved in smuggling of urea fertiliser, following complaints from various parts of the county.
15 million ADB-funded Covid vaccine doses received
Asian Development Bank (ADB) on Monday said that during the month of December 2021, some 15 million doses of ADB-funded COVID-19 vaccines arrived in Pakistan.
Rupee ends weaker
The rupee closed marginally lower on Monday as outpaced inflows from remittances and selling of the US currency by exporters pushed the local currency to end at 178.17 per dollar in the interbank market.
Daily Change: 1-Day Change