【Daily】1 Feb. Brief of Pak BizNews
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KSE 100 45,374.68 ▲ 0.66% KMI 30 73,593.11 ▲ 0.60% KASB Tech Index 435.67 ▲ 0.97%
KASB Market View
National News ‘Textile exports to jump 40pc as rivals lose orders to Pakistan’ KARACHI: Textile sector is bringing cheer to the country’s flailing economy, with exports set to swell to a record after gaining an edge over South Asian rivals during the pandemic, Bloomberg reported.
ECNEC approves Rs450bln projects, revises K-IV ISLAMABAD: The National Economic Council (ECNEC) on Monday approved infrastructure projects worth approximately Rs450 billion, including a revised cost of Rs126.4 billion for the much-delayed Greater Karachi Bulk Water Supply Scheme-IV. https://www.thenews.com.pk/print/929797-ecnec-approves-rs450bln-projects-revises-k-iv
Trade associations seek restoration of gas supply to all industries KARACHI: Trade and industry associations of Karachi joined hands on Monday against what they called discrimination in gas supply, which remains suspended for the last 100 days to industrial zones of the city, and demanded to restore supply to all industries.
PM Imran Khan rejects summary to raise POL prices ISLAMABAD: In the aftermath of implementing all tough conditions of the IMF ahead of upcoming Fund’s executive board meeting, Prime Minister Imran Khan decided to defer the price increase in petroleum product for next 15 days. https://www.thenews.com.pk/print/929877-pm-rejects-summary-to-raise-pol-prices
FBR fails to achieve target of Rs457 bn in Jan 22 ISLAMABAD: Contrary to the prevailing trend of collecting higher revenue than the target throughout the ongoing fiscal year, the revenue watchdog Federal Board of Revenue failed to achieve its envisaged target of Rs457 billion for January 2022, falling short of Rs27 billion. https://www.thenews.com.pk/print/929880-fbr-fails-to-achieve-target-of-rs457-bn-in-jan-22
Overdue receivables, rising coal rates: IPPs under CPEC may default, warns CPECA ISLAMABAD: The China Pakistan Economic Corridor Authority (CPECA) has urged the Central Power Purchasing Agency-Guaranteed (CPPA-G) to pay overdue receivables of IPPs established under CPEC, warning that the plants may go in default because of rising prices of coal in international market, well informed sources told Business Recorder.
$5bn new loans: clarification by EAD ISLAMABAD: The Economic Affairs Division (EAD) on Monday clarified its position on obtaining $5 billion new loans from China, Russia and Kazakhstan https://www.brecorder.com/news/40151252/5bn-new-loans-clarification-by-ead
Immovable properties: New valuation tables to be re-notified on March 1 ISLAMABAD: The Federal Board of Revenue (FBR) has decided to held in abeyance the new property valuation rates notified through SROs No 1534(1)/ 2021 to 1572(1)/2021 dated December 1, 2021 up to March 1, 2022.
Delivery of power subsidy to agri sector: Centre wants provinces to share burden ISLAMABAD: Quoting limited fiscal space with the Centre, Ministry of Finance (MoF) has refused to bear any financial implication on the part of Government of Pakistan (GoP) in National Electricity Policy (NEP) 2022, advising Power Division to take provincial governments on board for sharing the burden of subsidy especially for agriculture sector, official sources told Business Recorder.
Call to prioritise digitisation in SME policy LAHORE: Pakistan should prioritise digitalisation in its SME policy to open new doors for exports as entrepreneurs and innovators in the country need neighbourhood markets to perfect their products, brands, and recipes, said Wang Zihai, president at Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Monday. https://www.thenews.com.pk/print/929806-call-to-prioritise-digitisation-in-sme-policy
Commodities and Currency: 1-Day Change
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