【Daily】28 Sept. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Sep 28, 2022

-Daily Market-

 KSE 100   41,518 0.89%

 KMI 30     67,965 0.94%

KASB Tech Index   471 0.08%


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


ADB to approve $1.5bn next month

The Asian Development Bank (ADB) will approve a $1.5 billion countercyclical loan for Pakistan next month as it announced plans to provide $14bn to the Asia and the Pacific nations to ease a worsening food crisis posed by the impacts of climate change.



Saudi Crown Prince to visit Pakistan in November

Saudi Crown Prince Muhammad bin Salman (MBS) will undertake Pakistan’s visit mid-November this year and will make a major announcement on various development projects.



China urges US to do something ‘real and beneficial’ for flood-hit Pakistan

Chinese Foreign Ministry Spokesperson Wang Wenbin on Tuesday called out the US for "passing unwarranted criticism against Pakistan-China cooperation" and urged it to do something "real and beneficial" for the people of Pakistan.



WB may further downgrade $200m project

The World Bank is likely to further downgrade the $200 million locust emergency and food security project for Pakistan, besides already cancelling a partial commitment of $104 million bringing it down to $96 million, after facing inordinate delay in implementation, it is learnt.



Repatriation of profits nosedives by 93pc in two months

The outflow of profits and dividends on foreign investments plunged by 92.88 per cent during the first two months of the fiscal year 2022-23 compared to the same period last year because of lacklustre economic activities in the country.



Pakistan's rupee registers third successive gain, appreciates 1.3% against US dollar

Pakistan's rupee continued its upward path against the US dollar for the third successive session on Tuesday, closing over 1.3% higher in the inter-bank market as former finance minister Ishaq Dar's arrival in Pakistan after five years in exile in London bolstered the money market's confidence.



Govt to shut down expensive fuel-fired power plants

The government has decided to shut down expensive fuel-fired power plants producing 7,339 megawatts.



Indus Motors fears 40pc sales drop

Despite having orders for the next four months, Indus Motor Company (IMC) is operating at 40-45 per cent production capacity.



Five sectors to get power for 9 Cents/kWh for Sept only

Power Division has directed Distribution Companies (Discos) and K-Electric (KE) to provide electricity @ Cents 9/kWh all-inclusive to the five sectors (erstwhile zero rated) for only September 2022.




Commodities and Currency: 1-Day Change


USD 1632 ▼0.27%


USD 18 ▼0.84%

 Crude Oil

USD 78 ▼1.27%


Rs 237 ▼0.90%

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