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【Daily】1 Mar. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Mar 1, 2022

-Daily Market-

                                           KSE 100 44,461.01▲ 1.08%                                      

    KMI 30 72,148.81▲ 1.88%

                                               KASB Tech Index 371.38▲0.89%                                          

 

 

KASB Market View

  •   The KSE-100 index closed on a positive note adding 476.77 points after a volatile trading session as investors swayed both sides in search of direction.
  • Investors capitalized on that and took positions on attractive valuations.
  • Technology and communication sector remained on top with a total volume traded of 37.2mn shares, followed by chemical  with the volume of 32.3mn.

 

National News

 

PM Imran Khan cuts petrol, diesel prices by Rs10/litre, power tariff by Rs5/unit

Prime Minister Imran Khan on Monday announced a Rs10/litre reduction in petrol and diesel prices and also Rs5/unit in the electricity tariff, promising there will be no increase in their prices until the next budget

https://www.thenews.com.pk/print/937557-pm-slashes-petrol-diesel-prices-by-rs10-litre-power-tariff-rs5-unit

 

Finance ministry says geopolitical risk threatens economic stability

Finance ministry on Monday said an escalated conflict between Russia and Ukraine could keep inflationary and balance of payment pressures in the economy for longer as the crisis would likely further increase energy costs and commodities prices.

https://www.thenews.com.pk/print/937580-finance-ministry-says-geopolitical-risk-threatens-economic-stability

 

Refineries expansion plans hit snags on policy delay

Oil refineries are experiencing setbacks in their expansion plans as investors have long been waiting for the government to sign off the much delayed new policy governing the sector, industry officials said on Monday.

https://www.thenews.com.pk/print/937581-refineries-expansion-plans-hit-snags-on-policy-delay

 

Russia asks Pakistan to start talks on bilateral trade

Prime Minister’s Advisor on Commerce and Investment Abdul Razak Dawood on Monday said that Commerce Ministry had received an email from Russia to start negotiations on bilateral trade.

https://www.brecorder.com/news/40157853/russia-asks-pakistan-to-start-talks-on-bilateral-trade

 

Provisional figures: Feb tax collection stands at Rs443bn

The Federal Board of Revenue (FBR) has surpassed the assigned monthly revenue collection target of Rs441 billion by collecting Rs443 billion during February 2022, reflecting an increase of Rs2 billion.

https://www.brecorder.com/news/40157842/provisional-figures-feb-tax-collection-stands-at-rs443bn

 

Rs5 power tariff cut will be adjusted thru budgetary reallocation

Minister for Energy, Hammad Azhar Monday said reduction of electricity tariff by Rs 5 per unit will be adjusted through budgetary reallocation and will be circular debt flow neutral.

https://www.brecorder.com/news/40157851/rs5-power-tariff-cut-will-be-adjusted-thru-budgetary-reallocation

 

E-banking transactions up 16pc to Rs27.2tr in July-Sept

E-banking transactions increased 16 percent to Rs27.2 trillion in the first quarter of this fiscal year, as convenient digital payments did not lose their charm despite easing pandemic-led restrictions, the central bank said on Monday.

https://www.thenews.com.pk/print/937579-e-banking-transactions-up-16pc-to-rs27-2tr-in-july-sept

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