【Daily】25 Jan Brief of Pak BizNews
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KSE 100 44,923.91 ▼ 0.21% KMI 30 72,981.40 ▼ 0.03% KASB Tech Index 432.1 ▼ 1.98%
KASB Market View § Rising number of COVID cases would continue to dent the investor sentiments. § Moreover, beginning of result season with positive earnings surprises might bring some spark in specific stocks. § Sector-wise, the by technology and communication sector remained on top with a total volume traded of 50.9mn shares, followed by refinery with 27.5mn. National News Pakistan issues $1bn sukuk Pakistan has issued US$1 billion Islamic sukuk in the international market at 7.95 percent interest rate for a period of seven years. https://www.brecorder.com/news/40149620/pakistan-issues-1bn-sukuk
Understanding with IMF: Govt set to further increase electricity base tariff The federal government is all set to increase electricity base tariff for domestic consumers using 201-400 units per month by Rs 3.11 per unit through withdrawal of a portion of subsidy as per understanding with International Monetary Fund (IMF).
SBP maintains rate at 9.75pc on fiscal tightening As per expectations, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has maintained the policy rate at 9.75 percent in its meeting held Monday. https://www.brecorder.com/news/40149618/sbp-maintains-rate-at-975pc-on-fiscal-tightening
PRL set to start exporting furnace oil next month Having been unable to draw local buyers even months after running into an inventory crisis, Pakistan Refinery Limited (PRL) has decided to start exporting its huge furnace oil (FO) stocks in the first week of February, if there is no improvement in demand. https://www.thenews.com.pk/print/927825-prl-set-to-start-exporting-furnace-oil-next-month
Govt must get SBP bill passed from Senate in 48-72 hours The revival of International Monetary Fund’s (IMF) stalled $6 billion Extended Funding Facility (EFF) programme now hinges on the government’s ability to get the polemic State Bank of Pakistan (SBP) Amendment Bill 2021 passed from Senate within next 48 to 72 hours. https://www.thenews.com.pk/print/927826-govt-must-get-sbp-bill-passed-from-senate-in-48-72-hours
ECC sets tobacco crop price at Rs240/kg Economic Coordination Committee of the Cabinet on Monday gave approval to the Minimum Indicative Price (MIP) of tobacco at Rs240/kg for this year’s crop. https://www.thenews.com.pk/print/927832-ecc-sets-tobacco-crop-price-at-rs240-kg
CDWP gives go-ahead to 3 projects worth Rs13bln, refers one to ECNEC The Central Development Working Party (CDWP) on Monday approved three development projects worth Rs13 billion, while recommending a project worth Rs108.5 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration.
PSO, Pakistan Railways sign MoU The country’s leading energy company, Pakistan State Oil (PSO) further strengthens its strategic partnership with Pakistan Railways by signing a Memorandum of Understanding (MoU) for the supply of POL products, transportation and other businesses. https://www.brecorder.com/news/40149563/pso-pakistan-railways-sign-mou
Commodities and Currency: 1-Day Change
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