【Daily】31 May Brief of Pak BizNews
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KSE 100 43,040.14 ▲ 0.42% KMI 30 69,653.72 ▲ 0.87% KASB Tech Index 277.63 ▲ 0.66%
KASB Market View · With cut in subsidy in petrol prices, and with the possibility of complying with the IMF conditions, there can be a positive sign to attain the IMF EFF funding.
National News
Fate of 7th IMF EFF review dependent on FY23 budget composition The fate of the seventh $6 billion Extended Fund Facility (EFF) review will depend on the composition of budget scheduled to be laid before parliament on 10 June with targets set that would indicate the government’s expenditure and revenue priorities for next fiscal year.
IT exports cross $2.1bn, says minister Federal Minister for IT and Telecommuni-cations Syed Amin-Ul-Haque said on Monday that the investments of Pakistani start-ups grew by almost five times over 2020 while IT exports had crossed $2.1 billion last year and the target for this year is $3 billion. https://www.brecorder.com/news/40176766/it-exports-cross-21bn-says-minister
Oil and gas sector’s circular debt reaches Rs 1.5 trillion mark, Senate panel told The Petroleum Division Secretary informed a parliamentary panel on Monday that the oil and gas sector’s circular debt reached to Rs1.5 trillion which needs to be controlled.
PM to leave for Turkey today Prime Minister Shehbaz Sharif will pay an official visit to Turkey from 31st May-2nd June 2022. This was revealed by Foreign Office on Monday. https://www.brecorder.com/news/40176793/pm-to-leave-for-turkey-today
Atlas Honda jacks up motorcycle prices by as much as Rs9,000 Atlas Honda hiked prices of its motorcycles in the range of Rs3,600-9,000, with new rates kicking in from June 1, said dealers on Monday. https://www.brecorder.com/news/40176622/atlas-honda-jacks-up-motorcycle-prices-by-as-much-as-rs9000
Saudi Arabia may raise July crude oil prices for Asia Top oil exporter Saudi Arabia may raise prices of all grades of crude it sells to Asia in July following strong refining margins for gasoline and jet fuel, while expectations of a rebound in China's demand also supported prices, trade sources said. https://www.brecorder.com/news/40176613/saudi-arabia-may-raise-july-crude-oil-prices-for-asia
PTI chief begging for NRO, says Hamza Punjab Chief Minister Hamza Shahbaz has said that Imran Niazi was begging for NRO while the audio-leak fully exposed the conspiracy of Imran Niazi. https://www.brecorder.com/news/40176733/pti-chief-begging-for-nro-says-hamza
Commodities and Currency: 1-Day Change
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