【Daily】19 Oct. Brief of Pak BizNews
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KSE 100 41,839 ▲0.20% KMI 30 70,015 ▲0.10% KASB Tech Index 511 ▲0.77%
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National News
Pakistan receives only $88m assistance against $816m flash appeal In response to the UN-Pakistan joint flash appeal of $816 million, Pakistan has received only $88 million support in cash and kind despite securing commitments of $111 million.
RMB account, rescheduling of loans likely The government is reportedly finalising drafts of over a dozen pacts including rescheduling of Chinese loans, opening of accounting in RMB and cyber security, to be signed during the maiden visit of Prime Minister Shahbaz Sharif to China next month, well informed sources told Business Recorder. https://epaper.brecorder.com/2022/10/19/1-page/945314-news.html
Rupee settles at 219.71 against US dollar As per the State Bank of Pakistan (SBP), the rupee closed at 219.71 after depreciating Re0.82 or 0.37%. The rupee has cumulatively depreciated Rs1.92 or 0.87% in the last five trading sessions.
Petroleum group imports grow 5.94pc in 1Q Petroleum group imports witnessed a growth of 5.94 percent during the first quarter (July-September) of the current fiscal year 2022-23 and remained $4.865 billion compared to $4.592 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2022/10/19/4-page/945345-news.html
Expansion of advanced power metering project okayed The Federal Cabinet meeting has in-principle gave approval to extend the project of installation of advanced meters from the federal capital to other parts of the country, besides installation of advanced meters on transformers to reduce line losses in the power sector. https://epaper.brecorder.com/2022/10/19/1-page/945315-news.html
Honda unveils date for HR-V’s launch Honda Atlas Cars Pakistan (HACPL) has finally unveiled the release date of their upcoming HR-V across their social media accounts. The company has touted October 21, 2022 as the launch date for the vehicle. https://profit.pakistantoday.com.pk/2022/10/18/honda-unveils-date-for-hr-vs-launch/
Sazgar Starts Booking Electric Rickshaws With 100 KM Range Pakistan’s one of the most renowned 3-wheeler manufacturers, Sazgar, has opened bookings for its fully electric rickshaw, eVe, which has a 100 km range on a single charge. https://propakistani.pk/2022/10/18/sazgar-starts-booking-electric-rickshaws-with-100-km-range/
Auto makers took Rs271bn in advance from consumers, PAC told The Public Accounts Committee (PAC) was informed on Tuesday that car manufacturers have received more than Rs217.6 billion payment in advance from customers. https://www.thenews.com.pk/print/1001397-auto-makers-took-rs271bn-in-advance-from-consumers-pac-told
Textile exports rise 3.7pc in Q1; drop 3pc in September Pakistan’s textiles exports increased 3.7 percent to $4.58 billion in the first quarter ended September 30, 2022, whereas the month’s exports declined 3 percent to $4.42 billion, official data showed on Tuesday https://www.thenews.com.pk/print/1001291-textile-exports-rise-3-7pc-in-q1-drop-3pc-in-september
Pakistan sides with Saudi Arabia over its tension with US In a significant move, Pakistan on Tuesday put its weight behind Saudi Arabia, which has locked horns with the United States over the cut in oil supply in international market. https://tribune.com.pk/story/2382227/pakistan-sides-with-saudi-arabia-over-its-tension-with-us
Commodities and Currency: 1-Day Change
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