【Daily】4 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 4, 2022

-Daily Market-

 KSE 100   41,212 0.20%

 KMI 30     67,956 0.73%

KASB Tech Index   471 1.13%


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


Policy commitments made by govt to continue to apply: IMF

The resident representative of the International Monetary Fund (IMF) said on Monday that policy commitments made by Pakistani authorities to resume the support programme continue to apply.



MoF seeks implementation status of EFF commitments

Ministry of Finance (MoF) has sought update from all the Ministries on the status of the communicated structural benchmarks, other actions, quantitative performance criteria and indicative targets under IMF’s Extended Fund Facility (EFF) for Pakistan by October 4, 2022 (today), official sources told Business Recorder.



I know how to deal with IMF, Dar tells Miftah

Finance Minister Ishaq Dar on Monday said that he knew how to deal with the International Monetary Fund (IMF) and no one had to worry about anything regarding it any more.



PKR jumps by Rs1.16 in interbank

The Pakistani rupee continued its upward momentum on Monday, rising by Rs1.16 against the dollar in the interbank market.



Low consumption of MS, HSD; Jul-Aug PDL collection shortfall stands at Rs93bn

The shortfall in collection of petroleum levy against the budgeted target was Rs93 billion in July and August 2022 – with actual collection in July amounting to Rs 15 billion and in August Rs 17 billion against the target of Rs 62.5 billion every month.



A revolving account for Chinese IPPs on the cards

The government has reportedly decided to re-submit a summary to the ECC for opening of revolving account for the Chinese IPPs, well informed sources told Business Recorder.



Honda Atlas Cars announces week-long plant shutdown

Honda Atlas Cars (Pakistan) Limited, the assembler of Honda automobiles in the country, on Monday announced the shutdown of its plant from October 04 to October 11, 2022.



CCoP to decide on sale of government stake in PRCL

The Privatisation Commission (PC) Board has decided to move the Cabinet Committee on Privatisation (CCoP) to break a multi-year long deadlock on the divestment of the government’s 20 percent shareholding in Pakistan Reinsurance Company (PRCL).



Overall banking assets; Market share of IBI assets surges to 19.5pc

Assets of Islamic Banking Industry (IBI) witnessed an all-time high quarterly increase of Rs 836 billion during the quarter April to June, 2022. With current increase, market share of IBI assets in overall banking assets surged to 19.5 percent by end-June 2022.



Five zero-rated sectors’ concessional tariff issue to be resolved soon: MoC

Ministry of Commerce (MoC) said on Monday that the issue of electricity supply to five zero rated sectors at Cents 9/kHw will be resolved within a couple of days as some “pockets” for funds have been identified to the Finance Ministry.



Cotton arrivals drop by 26%

The cotton arrivals in the country dropped by 26% to 2.93 million bales by October 1, 2022, the data released by Pakistan Central Cotton Committee (PCCC) showed on Monday.




Commodities and Currency: 1-Day Change


USD 1706 0.21%


USD 21 1.05%

️Crude Oil

USD 84 0.11%



Rs 229 0.81%

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