【Daily】22 Feb. Brief of Pak BizNews

-Daily Market-

 KSE 100 45,362.02▼ 0.69%                                          

 KMI 30 73,311.06 ▼  0.87%

 KASB Tech Index 408.40▼ 0.84%                                          

KASB Market View

• The KSE-100 index continued its losing streak declining by 243.70 points as political uncertainty continues between Russia and Ukraine.
• The KSE-100 index continued to remain under pressure as the session concluded by losing 313 points.
• Most points taken off the index was by MEBL with 28 points followed by TRG with 24.
• Technology and communication sector remained on top with a total volume traded of 41.7mn shares, followed by Oil and Gas marketing with the volume of 13.7mn.

National News

Oil prices shoot up on Russia-Ukraine tensions

Oil prices rose on Monday as tensions between Russia and the West ratcheted up, adding to supply concerns that have kept oil prices near $100 a barrel.

https://www.thenews.com.pk/print/935688-oil-prices-shoot-up-on-russia-ukraine-tensions

Provinces asked to share 50pc farm subsidy with centre

The federal government has asked of the provinces to share 50 percent cost of agriculture subsidy programmes with it as it was grappling with a widening budget deficit.

https://www.thenews.com.pk/print/935686-provinces-asked-to-share-50pc-farm-subsidy-with-centre

SBP to launch e-warehouse receipt financing today

The State Bank of Pakistan (SBP) will launch electronic warehouse receipt financing (EWRF) for maize crop today (Tuesday) to provide farmers with an adequate facility to store their produce, and also address their liquidity requirement, the central bank state

https://www.thenews.com.pk/print/935691-sbp-to-launch-e-warehouse-receipt-financing-today

Gas reforms to raise urea exports: Engro

Pakistan is expected to approve a gas pricing policy this year that would drive up domestic costs for the urea industry and enable it to export, the chief executive of Engro Fertilizers told Reuters.

https://www.thenews.com.pk/print/935695-gas-reforms-to-raise-urea-exports-engro

Govt sells 96.6pc of its stake in HEC at Rs99.99/share

Privatisation Commission on Monday successfully executed the bid for selling 96.6 percent shares in the Heavy Electrical Complex (HEC) to IMS Engineering at Rs99.999/share that would fetch Rs1.41 billion for the cash-starved government.

https://www.thenews.com.pk/print/935687-govt-sells-96-6pc-of-its-stake-in-hec-at-rs99-99-share

Govt to keep digital tabs on foreign-funded projects

While pressing the functionaries to finish foreign-funded projects on time, Omar Ayub Khan, Minister for Economic Affairs, on Monday said the government would extensively employ technology to keep tabs on the progress of these schemes.

https://www.thenews.com.pk/print/935693-govt-to-keep-digital-tabs-on-foreign-funded-projects

Raising loans from world capital markets: MoF given one-time umbrella permission

The Federal Cabinet has reportedly granted one-time umbrella permission to the Finance Ministry to raise commercial loans from international capital markets through Eurobonds and Sukuks under “Global Medium-Term Note (GMTN) Programmes” despite the fact that the Minister for Law and Justice termed “umbrella approval” as legally untenable

https://www.brecorder.com/news/40156162/raising-loans-from-world-capital-markets-mof-given-one-time-umbrella-permission

Commodities and Currency: 1-Day Change