【Daily】24 Aug. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Aug 24, 2022

-Daily Market-

 KSE 100   43,367 1.30%

 KMI 30     72,126 1.90%

KASB Tech Index   436 2.23%


KASB Market View


  • Interest rates were kept unchanged at 15% as SBP cited comfort in the prevalent economic cooldown
  • Confirmation of external funding, including Qatar's USD 2.0bn may ease pressure on the Pak Rupee
  • The recent political noise may keep investors concerned over the near term


National News


PM announces fixed tax exemption for retailers, end to FCA for 17m people

Prime Minister Shehbaz Sharif on Tuesday announced a major relief package for the inflation-burdened nation under which fixed taxes have been abolished for retailers and more than 1.7 million people will now be exempt from fuel charges adjustment on electricity bills.



KE wants to collect additional Rs14.53 per unit from consumers

The K-Electric has pleaded with the National Electric Power Regulatory Authority (Nepra) to allow it a huge Rs14.533/unit additional collection from power consumers on account of quarterly fuel price variation for April-June 2022.



Govt imposes up to 150pc regulatory duty on 700 luxury goods

The Federal Board of Revenue (FBR) on Tuesday notified imposition of time-bound regulatory duty (RD) and additional customs duty (ACD) on almost 600 to 700 luxury items in the range of 100 to 150 percent maximum to discourage imports.



SBP sees FX reserves at $16bn in this fiscal

Pakistan’s foreign currency reserves are expected to touch $16 billion in the current fiscal year, from $7.9 billion in August as an IMF bailout tranche worth $1.2 billion will unlock other inflows, central bank’s acting governor said on Tuesday.



Discos seek Rs3.7 per unit hike, Rs94.4bn more recoveries

The power Distribution Companies (Discos) have sought an increase of Rs 3.7 per unit and to recover additional amount of Rs 94.4 billion from consumers for 4th quarter of CFY 2021-22 under Quarterly Tariff Adjustment (QTA) mechanism.



Imported fertilizer: PM defers decision on dealers’ margins

Prime Minister Shehbaz Sharif has deferred ratification of the ECC decision with respect to increase in dealers’ margin of imported urea after the Ministry of Industries and Production was grilled for giving benefit to fertilizer industry instead of farmers.



PM in Qatar to generate trade, fetch investment

Prime Minister Shehbaz Sharif on Tuesday invited investors from Qatar to invest in Pakistan’s energy, aviation, agriculture, livestock, maritime, tourism and hospitality sectors.



More foreign auto players to test their luck

Despite uncertain political and economic conditions, foreign auto players are striving to roll out locally assembled vehicles well within the deadlines in the next two years.



International News


Oil jumps above $3

Oil prices soared more than $3 a barrel on Tuesday after Saudi Arabia floated the idea of Opec+ output cuts to support prices and with the prospect of a drop in US crude inventories.



Commodities and Currency: 1-Day Change


USD 1758 ▼0.19%


USD 19 ▼0.55%

Crude Oil

USD ▼0.30%


Rs 217 0.16%

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