【Daily】5 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 5, 2022

-Daily Market-

 KSE 100   41,350 0.34%

 KMI 30     68,3470.58%

KASB Tech Index   480 1.85%


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.



Global community told; Pakistan is out of money to spend on flood recovery

The United Nations and the government of Pakistan on Tuesday launched the revised flash appeal of an urgent US$ 816 million to swiftly respond to the needs of people affected by unprecedented climate-induced floods in the country.



EU scales up assistance to Rs6.7bn for flood-hit people

The European Union has announced to substantially scale up its financial assistance to PKR 6.7 billion (€30 million) to the flood-affected people in Pakistan.



Pakistan’s total public debt Rs49.2tr in FY22

Pakistan’s total public debt went up by around Rs9.326 trillion in the last fiscal year 2021-22 ending on June 30, 2022; it went up from Rs39.8 trillion in June 2021 to Rs49.2 trillion on June 30, 2022.



Trade deficit shrinks 21.4pc in three months

Country’s trade deficit in the first quarter (July-September) of FY2023 narrowed 21.4 percent to $9.2 billion against $11.72 billion in the same three months of the last fiscal, latest numbers showed on Friday, courtesy of tapering imports.



SBP policy rate seen unchanged though inflation worries persist

The central bank policymakers would likely keep interest rates unchanged next week despite an external financing shortfall as inflation eases on declining global commodity prices and flood induces an economic slowdown.



PKR strengthens further

Pakistan’s rupee appreciated against the US dollar for the eighth successive session on Tuesday, closing over 0.7% higher in the inter-bank market.



Oil sales slump 22pc on weak demand in September

Oil consumption plunged 22 percent to 1.52 million tonnes in the month of September this fiscal compared to 1.96 million tonnes in the same month of the last year owing to ebbing demand and rising fuels prices, data showed on Tuesday.



Action to be taken against erring banks, ECs: SBP chief

The governor State Bank of Pakistan (SBP) has informed the National Assembly Standing Committee on Finance on Tuesday that action would be taken against banks and forex exchange companies (ECs) involved in volatility in the exchange rate upon finalisation of inquiry.



DRAP sets 6-month deadline for enlisting high-risk medications

The Drug Regulatory Authority of Pakistan (DRAP) has set a six-month deadline for public and private health facilities in the country to prepare a list of high-risk medications.




Commodities and Currency: 1-Day Change


USD 1728 ▼0.16%


USD 21 ▼0.98%

 Crude Oil

USD 86 ▼0.65%


Rs 229 0.22%


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