【Daily】28 Oct. Brief of Pak BizNews
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KSE 100 41,603 ▲0.15% KMI 30 70,137 ▼0.07% KASB Tech Index 488 ▲1.93%
KASB Market View
National News
Projects finalised ahead of PM’s China’s visit The meeting of 11th Joint Cooperation Committee (JCC) of China-Pakistan Economic Corridor (CPEC) Thursday finalized several development projects which would be signed by Prime Minister Shehbaz Sharif during his visit to Beijing on November 1. https://epaper.brecorder.com/2022/10/28/1-page/946029-news.html
Nepra imposes Rs10m fine on NTDC National Electric Power Regulatory Authority (NEPRA) has imposed a fine of Rs 10 million on National Transmis-sion & Despatch Company (NTDC) for its failure to satisfy the Authority in the matter of revision in minimum loading limit of Lalpir and Pakgen power plants. https://epaper.brecorder.com/2022/10/28/1-page/946032-news.html
MPCL threatens to suspend gas supply to power sector from Nov Mari Petroleum Company Limited (MPCL) has threatened to suspend gas supply to power sector from November 1, 2022, if Central Power Generation Company Limited (CPGCL) (Genco-II) TPS Guddu fails to pay outstanding dues https://epaper.brecorder.com/2022/10/28/1-page/946034-news.html
SBP governor launches ‘Roshan Equity Investment’ Roshan Equity Investment is an innovative product whereby non-resident Pakistanis can invest in Pakistan’s stock market conveniently, swiftly and digitally https://epaper.brecorder.com/2022/10/28/1-page/946038-news.html
THE RUPEE: PKR declines further Pakistan’s rupee registered back-to-back losses against the US dollar, and depreciated 0.37% in the inter-bank on Thursday. https://epaper.brecorder.com/2022/10/28/1-page/946041-news.html
ECC okays concessionary RLNG tariff for five export-oriented sectors The Economic Coordination Committee (ECC) of the cabinet on Thursday approved the continuation of concessionary RLNG tariff of $9 per MMBTU for five export-oriented sectors for the current fiscal year 2022-23.
Saudi investment of $12bn : Govt seeks fresh petroleum policy to facilitate investment The government has directed the relevant authorities to approve a fresh petroleum policy in a bid to materialise the upcoming potential investment of $10 to $12 billion from the Kingdom of Saudi Arabia for the construction of a petrochemical complex in Gwadar.
OGDCL discovers oil reserves in Punjab The Oil and Gas Development Company Limited (OGDCL) on Thursday announced discovery of oil reserves from its exploratory well, Toot Deep-1 Well, located in Attock district of Punjab with a rate of 882 barrels per day (bpd) and 0.93 million standard cubic feet per day (mmscfd) gas. https://www.thenews.com.pk/print/1004266-ogdcl-discovers-oil-reserves-in-punjab
Chinese firm mulls $4.5bn investment in refinery project Chinese company East Sea Group Limited has planned to invest $4.5 billion to build a refinery plant with an annual refining capacity of 8 million tonnes at Gwadar, its CEO Fang Yulong said in a think tank session of Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Thursday. https://www.thenews.com.pk/print/1004270-chinese-firm-mulls-4-5bn-investment-in-refinery-project
ECB raises interest rates again, cuts bank subsidies The European Central Bank raised interest rates again on Thursday and put the reduction of its bloated balance sheet on the agenda, but said “substantial” progress had already been made in its bid to fight off a historic surge in inflation. https://epaper.brecorder.com/2022/10/28/1-page/946039-news.html
Commodities and Currency: 1-Day Change
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