【Daily】18 May. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro May 18, 2022

-Daily Market-


KSE 100 42,726.06▲ 0.14%

KMI 30 68,855.78▼ 0.01%

KASB Tech Index 259.33 ▲ 1.12%



KASB Market View


·       Talks with IMF program will begin today and market participants await resumption of the program in order to take position.

·         Market is also expecting a hike in upcoming monetary policy in light of rising inflationary pressure. This would continue to keep cyclical sectors under pressure.



National News


IMF talks to begin today at Doha

Finance Minister Miftah Ismail said on Tuesday that a team of the Finance Division has gone to Doha (on Tuesday) to hold consultations with the International Monetary Fund (IMF) Mission.




PD all set to share ‘reform plan’ with IMF

Power Division is all set to share its ‘power sector reforms plan’ with the International Monetary Fund (IMF) on Wednesday (today) including a commitment to increase about Rs 7 per unit in tariff, a mix of base tariff, QTAs and FCAs under the 7th Review Extended Fund Facility (EFF), well informed sources told Business Recorder.




Rupee sinks for ninth successive session, closes at 195.74 in inter-bank trading

The local currency sustained a downtrend for the ninth consecutive session on Tuesday as the rupee closed at an all-time low of Rs195.74 against the greenback in the inter-bank market.



Pakistan set to achieve 6pc GDP growth this year

Pakistan is all set to achieve GDP growth in the range of approximately 6 per cent for the current fiscal year mainly because of the improved contribution of industrial and services sectors.



Govt to raise Rs4.05tn via treasury auctions

The government aims to raise Rs4.050 trillion through the auction of Market Treasury Bills (MTBs), Pakistan Investment Bonds (PIBs), and Sukuk in May-July period to meet its financing needs, the central bank said on Tuesday.



Govt allows import of 0.2MMTs of urea

The federal government has allowed import of 0.2 million metric tons of urea on G2G and deferred payment basis, official sources told Business Recorder.



FY22 budget deficit likely to stand at 9pc of GDP — highest-ever in country’s history

Former finance minister Dr Abdul Hafiz Pasha has projected Pakistan’s budget deficit for the fiscal year 2021-22 at Rs5,000 billion or nine percent of the Gross Domestic Product (GDP) which is the highest in the history of the country.




Telecom industry attracts $6.1bn FDI in less than 4 years

The telecommunication industry attracted foreign direct investment of $6.1 billion during July 1, 2018, to March 30, 2022, said Federal Minister for IT and Telecommunication Syed Aminul Haque.






Commodities and Currency: 1-Day Change


USD 1808.38 ▼ 0.58%


USD 21.538 ▼ 0.97%

️Crude Oil

USD  110.23 ▲ 0.55%


Rs 196.5/USD ▼ 0.25%



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