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【Daily】20 Apr. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Apr 20, 2022

-Daily Market-

KSE 100 46,332.4 ▼ 0.44%

KMI 30 75,869.5 ▼ 0.56%

KASB Tech Index 315.4 ▼ 2.27%

 

KASB Market View

·       Weakening currency amidst fear of rising CAD might result in bearish trend for today.

·       We think that refinery and OMC sector is expected to perform because of rising GRMs and settlement of PDC claims, respectively.

·        Important results of the day include MLCF, HBL and UBL. Positive earnings surprise and higher than expected dividend might result in stock performance.

 

National News

 

IMF projects rise in inflation

The International Monetary Fund (IMF) has projected Pakistan’s GDP growth rate at four percent for 2022 against 5.6 percent in 2021, and projected rise in inflation from 8.9 percent in 2021 to 11.2 percent in 2022.

https://epaper.brecorder.com/2022/04/20/1-page/926764-news.html

 

WB lists factors exacerbating macroeconomic imbalances

Further policy reform slippages and delays in adjustment measures are likely to exacerbate the already widening macroeconomic imbalances for Pakistan, as the heightened domestic political uncertainty over the past few months has slowed the implementation of key reforms to improve overall fiscal and debt sustainability, says the World Bank.

https://epaper.brecorder.com/2022/04/20/1-page/926765-news.html

 

Russia sends 4-year economic cooperation roadmap

Following the visit of former Prime Minister, Imran Khan to Moscow, Russia has sent a draft four-year(2022-2025) roadmap for development of trade and economic cooperation including increase in bilateral trade turnover, well informed sources told Business Recorder.

https://epaper.brecorder.com/2022/04/20/12-page/926848-news.html

 

China assures full support to develop SEZs

Ms Pangchunxue, Charge de Affaires of the Embassy of the People’s Republic of China has assured full support and cooperation of the Chinese government in developing special economic zones as part of CPEC, said a statement issued by Finance Ministry on Tuesday.

https://mettisglobal.news/china-assures-full-support-to-develop-sezs/

 

Jul-Mar FDI declines 2pc to $1.285bn YoY

The State Bank of Pakistan (SBP) reported on Tuesday that Pakistan fetched FDI amounting to $1.285 billion during July-March of FY22 as against $1.311 billion in the same month of the previous fiscal year (FY21), showing a decline of $26 million. During the period under review, overall FDI inflows were $1.967 billion against $682.4 million outflow.

https://epaper.brecorder.com/2022/04/20/1-page/926759-news.html

 

PKR: Another massive fall

As per the State Bank of Pakistan (SBP), the rupee closed at 184.44 after a day-on-day depreciation of Rs1.90, or 1.03%. The rupee had opened the week with a 0.54% loss on Monday as well.

https://epaper.brecorder.com/2022/04/20/1-page/926767-news.html

 

Price differential claims of OMCs/refineries; Rs68.81bn supplementary grant approved by ECC

The Economic Coordination Committee (ECC) of the Cabinet has approved Rs68.81 billion supplementary grant for disbursement of price differential claims (PDCs) to OMCs/ refineries for the month of April and to meet the shortfall of Rs1.87 billion for the month of March 2022.

https://epaper.brecorder.com/2022/04/20/1-page/926758-news.html

 

PSO receivables, payables soar to Rs508.3bn

The receivables and payable of Pakistan State Oil (PSO) have reached Rs508.3 billion as several clients failed to pay their bills for fuel supplies.

https://epaper.brecorder.com/2022/04/20/12-page/926849-news.html

 

Power generation cost up 66% YoY in March

The cost of generating electricity has increased by 66.2% in just one year, going up to Rs9.22 kWh in March 2022 compared to Rs5.55 kWh during the same month last year.

https://www.brecorder.com/news/40168160/power-generation-cost-up-66-yoy-in-march

 

PM picks coalition Cabinet

Prime Minister Shehbaz Sharif’s 37-member federal cabinet – 30 federal ministers, four ministers of state, and three advisers – was administered the oath by Chairman Senate Sadiq Sanjrani on Tuesday.

https://epaper.brecorder.com/2022/04/20/1-page/926761-news.html/

Commodities and Currency: 1-Day Change

Gold: 

USD 1,949 ▼ 0.51%

Silver: 

USD 25.17 ▼ 0.89%

Crude Oil

USD 102.98 ▲ 0.94%

USD-PKR: 

Rs 183.35/USD ▲ 0.19%

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