【Daily】8 Mar. Brief of Pak BizNews
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KSE 100 43,266.97▼ 2.88% KMI 30 69,862.88▼ 3.63% KASB Tech Index 360.58▼ 5.80%
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National News
ECC approves over Rs300bn for relief subsidies The Economic Coordination Committee (ECC) of the Cabinet on Monday doled out over Rs300 billion in the name of various relief schemes including Ramzan Relief Package for selling 19 items at Utility Stores Corporation (USC) with an estimated subsidy of Rs8.28 billion. https://www.thenews.com.pk/print/939633-ecc-approves-over-rs300bn-for-relief-subsidies
Upcoming heat wave may bake wheat at crucial stage Forthcoming heat wave, expected from March 10-11, poses serious threat to the otherwise super-healthy standing wheat crop. https://www.thenews.com.pk/print/939634-upcoming-heat-wave-may-bake-wheat-at-crucial-stage
Steel prices likely to hike A sudden surge of $120/ton in global prices of steelmaking raw materials has sent shockwaves across the world and Pakistan is also bracing for an impact of Rs20,000/ton increase in local prices, which the local industry says will be passed on to the end consumers. https://www.thenews.com.pk/print/939645-steel-prices-likely-to-hike
Govt seeks $21bn support from China Pakistan has sought financial support of about $ 21 billion from China through rollover of existing loans of $ 10.735 billion and $ 10 billion as deposit fund, to meet future financial needs and deal with financial challenges. https://www.brecorder.com/news/40159303/govt-seeks-21bn-support-from-china
Kamyab Overseas Programme okayed: ECC approves Rs8.28bn Ramazan Package The Economic Coordination Committee (ECC) of the Cabinet has approved Rs8.280 billion Ramazan Relief Package 2022 to provide 19 essential items at subsidized rates through Utility Stores Corporation besides Rs 156 billion for ‘Relief Package’ announced by the Prime Minister to slash Rs5 per unit electricity for the next four months and Rs10 per litre petrol and diesel price.
PM launches ‘Ehsaas Riayat Ration’ programme Prime Minister Imran Khan Monday said the historic tax collection has enabled the government to reduce petrol price by Rs10 and electricity per unit by Rs5 when petroleum prices are skyrocketing world over following Russia-Ukraine war.
AGP to audit fuel PDCs, payments to OMCs Auditor General of Pakistan (AGP) will audit Price Differential Claims (PDCs) and their payments to oil marketing companies (OMCs) and refineries for freezing fuel prices. https://www.thenews.com.pk/print/939632-agp-to-audit-fuel-pdcs-payments-to-omcs
Commodities and Currency: 1-Day Change
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