【Daily】28 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 28, 2022

-Daily Market-

 KSE 100   41,603 0.15%

 KMI 30     70,137 ▼0.07%

KASB Tech Index   488 1.93%


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


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.



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.



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



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



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.



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.



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.



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.





Commodities and Currency: 1-Day Change


USD 1668 0.14%


USD 20 0.30%

Crude Oil

USD 88 ▼1.13%


Rs 221 1.08%

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