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【Daily】16 Mar. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Mar 16, 2022

-Daily Market-

KSE 100 43,719.8 ▲ 0.81%

KMI 30 70,632.3 ▲ 0.90%

KASB Tech Index 398.6 ▲ 1.93%

 

KASB Market View

 

·       International oil prices have finally eased off which could restore the investor’s confidence.

·        The government has kept the petroleum prices unchanged for the next 15 days as indicated by the relief package. This would keep the inflation readings in check for Mar22.

·        Telecard Limited was the volume leader with 19.6 million shares. It was followed by TPL Properties with 15.3 million shares and Treet Corp with 13.7 million shares.

 

National News

 

Pak rupee hits new all-time low against US dollar

Concerns pertaining to the geopolitical situation added to woes of the Pakistani Rupee, which for the first time in its history dropped below the 179 level, depreciating 0.13% against the US dollar in the inter-bank market on Tuesday.

https://www.brecorder.com/news/40160856/pak-rupee-hits-new-all-time-low-against-us-dollar

 

 

OMCs’ PDCs up to Mar 31st; ECC approves another Rs11.73bn as suppl grant

The Economic Coordination Committee (ECC) of the Cabinet Tuesday approved an allocation of additional Rs11.73 billion as supplementary grant to meet the expenditure on payment of Price Differential Claims (PDCs) up to 31st March 2022 to Oil Marketing Companies (OMCs) and refineries to keep the petroleum prices unchanged.

https://epaper.brecorder.com/2022/03/16/1-page/922220-news.html

 

 

Government Kept Petroleum Prices Unchanged For Next Fifteen Days

Despite rising petroleum product prices globally, the Prime Minister of Pakistan has kindly rejected the proposal for enhancement in the prices and desired that the prices of petroleum products from 16th March 2022 shall remain the same as notified on 1st March 2022 for providing maximum relief to the general public.

https://augaf.com/government-kept-petroleum-prices-unchanged-for-next-fifteen-days-2/

 

 

Exploration of oil, gas; Body formed to fine-tune Model Production Sharing Agreement draft

Cabinet Committee on Energy (CCoE) has constituted an inter-ministerial committee under the chairmanship of Minister for Energy Hammad Azhar to fine-tune the proposed draft Model Production Sharing Agreement (MPSA), official sources told Business Recorder.

https://epaper.brecorder.com/2022/03/16/1-page/922224-news.html

 

 

ECC allows EAD to sign 15 debt rescheduling agreements

The Economic Coordination Committee (ECC) on Tuesday allowed the Ministry of Economic Affairs to sign 15 debt rescheduling agreements with various credit countries, finalized under the Debt Service Suspension Initiative (DSSI).

https://mettisglobal.news/ecc-allows-ead-to-sign-15-debt-rescheduling-agreements/

 

 

ECC approved allocation of 110 MMCFD gas from Mari Field to SNGPL

On a proposal of Petroleum Division for allocation of gas from Mari (Deep) gas reservoir to M/s SNGPL, the ECC approved in principle upto 110 MMCFD gas from Mari deep (Goru-B) gas reservoir allocation to SNGPL till 30-06-2024 on firm basis with direction for the determination of price mechanism of gas.

https://augaf.com/ecc-approved-allocation-of-110-mmcfd-gas-from-mari-field-to-sngpl/

 

11th generation Honda Civic: Official delivery time for two variants after 11 months

Honda Atlas Cars (Pakistan) Limited is currently saying that delivery for two higher-end variants of its 11th-generation Civic will be made in February 2023, confirmed dealers to Business Recorder on Tuesday, a development that comes after the company launched the new model earlier this month.

https://www.brecorder.com/news/40160894/11th-generation-honda-civic-official-delivery-time-for-two-variants-after-11-months

 

July-Feb textile group exports soar 26.08pc to $12.61bn YoY

The country’s textile group exports witnessed 26.08 percent growth during the first eight months (July-February) of the current fiscal year and remained $12.607 billion compared to $9.99 billion during the same period of the last fiscal year, says the Pakistan Bureau of Statistics (PBS).

https://epaper.brecorder.com/2022/03/16/1-page/922227-news.html

 

ECC approves Ramazan package for entire population

The Economic Coordination Committee (ECC) of the Cabinet has approved Rs8.2 billion Ramzan Relief Package for the whole population instead of 20 million households registered with Ehsaas Rashan Riayat Programme.

https://epaper.brecorder.com/2022/03/16/1-page/922219-news.html 

 

Commodities and Currency: 1-Day Change

Gold: 

USD 1,923 ▼ 0.32%

Silver: 

USD 25.09 ▼ 0.24%

Crude Oil

USD 97.73 ▲ 1.31%

  USD-PKR: 

Rs 179.6/USD ▲ 0.24%

 

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