【Daily】28 Apr. Brief of Pak BizNews
KASB Market View
KSE 100 45,533.30▼ 0.62%
KMI 30 74,450.89▼ 0.67%
KASB Tech Index 299.91 ▼ 2.06%
KASB Market View
· In the coming days, we expect the market to remain slightly bearish because of the economic uncertainty that is prevailing given the yields going up by 129 basis points.
· On the contrary, it can expected that market can perform well somedays, as the government is taking a positive route to negotiations with the IMF.
Coeus Solutions: Capitalizing opportunity to untap the full potential
Coeus Solutions looking to secure PKR 1.05-1.47 billion with floor and ceiling prices of PKR 210 and PKR 294, diluting 16.67% of the post-issue equity.
Over Rs672bn raised through auction for MTBs, cut-off yield soars up to 129 bps
The federal government raised over Rs 672 billion through the auction for short-term government papers.
CPI to go up to 11.2pc: IMF sees Pakistan's GDP growth to moderate to 4pc this year
The International Monetary Fund (IMF) has projected Pakistan’s GDP growth to moderate from 5.6 percent in 2021 to four percent in 2022 and consumer price inflation to go up from 8.9 percent in 2021 to 11.2 percent in 2022.
IMF asks govt to bring C/A deficit under control
The International Monetary Fund has urged Pakistan to bring its current account deficit under control, an official said, as the country’s new government seeks an increase in the size and duration of the current IMF programme.
UAE vows ‘responsible’ artificial intelligence rollout
The world’s first minister for artificial intelligence says the United Arab Emirates isn’t only looking for economic benefits as it seeks to become a leading nation in the sector.
Govt issues passport to Ishaq Dar
The newly-elected coalition government has issued a passport to ex-finance minister Ishaq Dar. Ishaq Dar, who travelled to UK about four years ago, has confirmed the development. Earlier, Pakistan Muslim League – Nawaz (PMLN) supremo and former Prime Minister Nawaz Sharif was also issued passport by the Shehbaz Sharif government.
President, governor bound to perform constitutional obligation: Hamza
Slamming Imran Niazi, Punjab Chief Minister-elect Hamza Shehbaz said on Wednesday that Constitution is supreme and President and Governor are bound to perform their constitutional obligation.
Fuel shortage behind power scarcity, Senate body told
The Power Division Wednesday confirmed to the Senate Standing Committee on Power that 5,800 MW of electricity is not available to the system due to shortage of fuel.
PM for priority reforms in power sector
Prime Minister Shehbaz Sharif on Wednesday stressed to bring reforms into the power sector on priority basis. The prime minister stated this in a meeting with Federal Minister for Power Division Khurram Dastgir.
KE’s exclusivity will end next year: Nepra
National Electric Power Regulatory Authority (Nepra) said on Wednesday that K-Electric’s exclusivity will end next year, after commentators from Karachi raised serious questions on power utility’s performance.
Asim replaces Ashfaq as FBR chairman
The federal government has appointed Asim Ahmad, a BS-21 officer of the Inland Revenue Service (IRS), as the new chairman of the Federal Board of Revenue (FBR), replacing Dr Muhammad Ashfaq Ahmad.
Miftah briefs US envoy, UK HC about govt’s economic agenda
Angela P. Aggeler, Charge d’ Affaires of the Embassy of the United States of America called on the Federal Minister for Finance and Revenue Miftah Ismail, at the Finance Division Wednesday. Secretary Finance and senior officers attended the meeting.
Mobile payment applications: SBP issues security guidelines
The State Bank of Pakistan (SBP) has issued comprehensive security guidelines for mobile payment applications to ensure confidentiality and integrity of customer data and availability of app services in a secure manner.
Russia halts gas supplies to Poland and Bulgaria
Russia halted gas supplies to Bulgaria and Poland on Wednesday for rejecting its demand for payment in roubles, taking direct aim at European economies in a move that also exposed divisions in the EU on how to respond to Moscow's invasion of Ukraine.
Commodities and Currency: 1-Day Change