【Daily】18 Aug. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Aug 18, 2022

-Daily Market-

 KSE 100   43,677 0.55%

 KMI 30     71,799 0.88%

KASB Tech Index   438 3.84%


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


THE RUPEE: PKR declines

The rupee's 11-session appreciation run ended on Wednesday, as the local currency fell 0.46% against the US dollar in the inter-bank market, signalling that it may have reached its short-term equilibrium.



IMF board meeting on 29th

The International Monetary Fund (IMF) Executive Board meeting for the combined seventh and eight reviews under the Extended Fund Facility (EFF) has been set for August 29.



Govt to impose Rs50 levy on petroleum products

In the Letter of Intent to IMF, according to sources, Pakistan has assured the Fund that the government will increase the price of petroleum products by imposing a levy of up to Rs50. Sources told Geo News that the federal government will impose a levy of Rs10 on petrol and Rs5 on diesel from September 1, while it will increase it to Rs30 on petrol and Rs15 on diesel from September 16.



Govt takes step to spur forex inflows thru export boost

Finance Minister Miftah Ismail has emphasized increasing exports and stated that there would be no tax on those companies that would export 10 percent of their production.



Zero pc GST on pharma inputs proposed

The federal cabinet is likely to approve the Presidential Ordinance to amend Finance Act 2022 by end-August 2022, proposing zero percent sales tax on the import and local supplies of pharmaceutical raw materials and active ingredients.



Offshore terminal, stake in PIA to be offered

Pakistan is to seek long-term and short-term Liquefied Natural Gas (LNG) contracts with Qatar in addition to offering the latter the establishment of offshore LNG terminal and a stake in Pakistan International Airlines (PIA)



Riyadh offers LNG, crude oil and revival of SFD pact

Saudi Arabia has reportedly offered Liquefied Natural Gas (LNG) to Pakistan on commercial basis in addition to activating an agreement on financing and providing supplies of crude oil and petroleum products signed between Saudi Fund and GoP.



POL FY22 – profits double!

Pakistan Oilfields Limited (PSX: POL) posted a massive growth in earnings for FY22 – 94 percent year-on-year to be precise. The oil and gas company’s earnings growth came from higher topline. Revenues for POL increased by 44 percent year-on-year on account of higher crude oil prices and Pak rupee depreciation. Crude oil prices were up by over 65 percent year-on-year in FY22, while currency depreciation of around 10 percent further gave topline a boost



Debt sustainability, transparency

The Asian Development Bank (ADB) will provide technical assistance (TA) envisaging improved debt sustainability and transparency in Pakistan. ADB to give $0.9m assistance on grant basis.




Commodities and Currency: 1-Day Change


USD 1780 0.17%


USD 20 ▼0.48%

️Crude Oil

USD 88 ▼0.12%



Rs 215 0.23%


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