【Daily】17 Aug. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Aug 17, 2022

-Daily Market-

 KSE 100   43,436 ▼0.42%

 KMI 30     71,172 ▼0.35%

KASB Tech Index   422 ▼1.94%


KASB Market View


  • Various economic data points were released yesterday showing signs of current account surplus for Jul22. This is likely to keep the market sentiment positive.
  • We expect further currency appreciation amidst anticipated inflows from IMF and friendly countries. This bodes well for the cyclical sectors.


National News


Pakistan assets rally amid bets for IMF bailout this month

Pakistan’s rupee, bonds and stocks are rallying as investors bet the nation will win a bailout from the International Monetary Fund this month and avoid a default.



FY22 LSMI output grows 11.7pc YoY

The Large Scale Manufacturing Industries (LSMI) output has registered a growth of 11.7 percent during the last fiscal year 2021-22 as compared to 2020-21, the Pakistan Bureau of Statistics (PBS) said.



July remittances down 8pc YoY

Inflows of workers’ remittances fell by 8 percent during the first month of this fiscal year (FY23), the State Bank of Pakistan (SBP) reported on Tuesday.



PM’s visit to Qatar: Pakistan may seek 15-year LNG deal with Qatar - Neutral

Pakistan may seek a 15-year LNG contract with Qatar on a G2G (government to government) basis — two cargoes in a month with a reopening price clause after 11 years — during the forthcoming visit of Prime Minister Shehbaz Sharif, a senior official of the coalition government has told The News.



Ogra’s miscalculation to mire next fuel price review

Oil & Gas Regulatory Authority (Ogra) didn’t incorporate the full exchange rate loss of Pakistan State Oil (PSO) in the latest fortnightly revision of the petroleum prices and the carryover exchange rate loss may create problems



Oil imports decline by 60% MoM in July 2022: PBS

The import bill of oil was recorded at $1.43 billion in July 2022, down by 60.54% MoM compared to $3.63bn in June 2022- the lowest since February 2022, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday.



Pak Suzuki drops car prices of all variants by up to Rs199,000

In the backdrop of PKR appreciation against the US dollar, Pak Suzuki Motor Company (PSX: PSMC) declined the prices of all its variants by up to Rs 199,000 on Tuesday. As per the company's notice, after a reduction of Rs90,000, Rs103,000 and Rs116,000 the Alto VX, Alto VXR and Alto AGS are now available at Rs1,699,000, Rs1,976,000 and Rs2,223,000, respectively.



Textiles exports decline 13.2pc in July 2022

Pakistan’s textiles exports declined in July 2022 by 13.2 percent to $1.48 billion over the previous month’s exports of $1.71 billion, with almost all major subcategories' overseas sales slipping over June.



SBP allows ECs to export dollar on consignment basis

The State Bank of Pakistan (SBP) has allowed Exchange Companies to export US dollar on consignment basis.



MOL finds oil, gas in KP

Pakistan Oilfields Ltd (POL) told its shareholders on Tuesday that MOL Pakistan, which operates the Tal Block in Kohat district of Khyber Pakhtunkhwa.




Commodities and Currency: 1-Day Change


USD 1790 0.05%


USD 20 ▼0.11%

Crude Oil

USD 87 0.70%



Rs 214 0.10%


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