【Daily】25 Aug. Brief of Pak BizNews
KSE 100 43,338 ▼0.07%
KMI 30 72,195 ▲0.10%
KASB Tech Index 444 ▲1.90%
KASB Market View
Qatar’s sovereign wealth fund aims to invest $3bn
The Qatar Investment Authority aims to invest $3 billion in Pakistan, Qatar’s Emiri Diwan said on Wednesday, lending support to the South Asian nation’s cash-strapped economy.
THE RUPEE: PKR extends losses
The Pakistani rupee registered a loss for the third successive session against the US dollar and depreciated 0.33% in the inter-bank market on Wednesday.
Govt-KE financial matters to be resolved soon: Dastgir
Federal Energy Minister Engineer Khurram Dastgir Khan on Wednesday said the ‘complex’ financial matters pending between the K-Electric and federal government will be sorted out in next few weeks.
Real estate projects
The Securities and Exchange Commission of Pakistan (SECP) has allowed Modaraba companies to deal or trade in real estate projects recognised by development authorities like Karachi Development Authority.
Power generation goes down
Pakistan’s national grid power generation was down 10 percent year-on-year in July 2022. Less than 14 billion units for July, which has historically been the peak demand month, is the lowest July generation since July 2018. Even July 2020 during peak Covid had higher generation numbers.
Pakistan’s REER falls to 93.2 in July
Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of several foreign currencies, decreased marginally as it clocked in at 93.2 in July 2022, down from 93.98 in June this year, data released by the State Bank of Pakistan (SBP) showed on Wednesday.
Commodities and Currency: 1-Day Change