【Daily】27 July Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Jul 27, 2022

-Daily Market-

 KSE 100   39,894.05 ▲0.13%

 KMI 30     65,580.92 ▲0.13%

KASB Tech Index   377.70 ▲0.55%


  KASB Market View


  • Appointment of CM Punjab has brought some clarity on political front. We expect this to provide some breather to the market today. The country waits IMF's tranche to counter external account woes.
  • Result season has begun where corporate earnings is seeing a decline on account of one time super tax.
  • We recommend defensive sectors including Fertilizer and Pharma.


National News


Miftah hopes for current account surplus in July

Finance Minister Miftah Ismail on Tuesday hoped that Pakistan would post a surplus on the external front this month as imports would likely be lower than exports plus remittances.



PKR declines further

Amid massive economic and political uncertainty, Pakistan's rupee continued to take a battering at the hands of the US dollar with the currency closing near the 233 level in the inter-bank market on Tuesday.



SSGC plans gas supply to 2 SEZs

The Sui Southern Gas Company (SSGC) is in process of executing at least three strategic projects to supply gas to two special economic zones (SEZs) and an industrial park in their respective areas to boost industrial production, a statement said on Tuesday.



Cabinet okays rebasing of power tariff

The federal cabinet has approved the rebasing of power tariff under which the government has raised electricity rates by Rs3.5 per unit on an immediate basis, and the forum has also decided to provide round-the-clock power supply to dedicated industrial feeders.



Power supply to export sectors at low rates: More funding contingent on IMF’s consent, ECC told

The Finance Division has conveyed to the Economic Coordination Committee (ECC) of the Cabinet that additional funding requirement for providing electricity at concessionary rates to the export-oriented sectors would be contingent to the International Monetary Fund’s consent.



Key power projects to be taken up in JEWG meeting

Power projects including 1124 MW Kohala and 700.7 MW Azad Pattan HPPs as well as 1,320 MW Thar Coal power plant project will be taken up in the coming meeting of the Pakistan-China Joint Energy Working Group (JEWG) which would be held in the first week of the next month (August).



Wapda for direct contracting to rehabilitate NJHEP

Water and Power Development Authority (Wapda) has reportedly proposed direct contracting instead of open bidding for rehabilitation of 969-MW Neelum Jhelum HydroElectric (NJHEP) Project to avoid delay, sources close to Chairman WAPDA told Business Recorder.



Pak Suzuki warns of plant shutdown in August if import restrictions persist

Pak Suzuki Motor Company (PSMC), which has the biggest market share in the passenger car segment, said on Tuesday that it stopped entertaining new bookings from July 1, warning that it may even have to shut down its plant next month if restrictions on importing material for production continues.



Mining sector likely to get status of industry

The federal government is likely to grant mining sector as industry status aimed at facilitating its development as per rules of provincial governments, sources in Petroleum Division told Business Recorder.



Traders turn to French wheat for Pakistan

Tra-ders bought up to seven shipments of French wheat aimed for Pakistan as part of a 300,000 tonne tender last week, European traders said on Tuesday, in a further sign that importing countries are turning to western Europe to fill a gap left by missing Black Sea grain.




Commodities and Currency: 1-Day Change


USD 1,715.40▼0.22%


USD 18.527▲1.09%

Crude Oil

USD 94.92▼1.84%


Rs 232.770/USD▲1.31%

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