【Daily】14 Nov. Brief of Pak BizNews
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KSE 100 43,093 ▲0.45% KMI 30 73,105 ▲0.62% KASB Tech Index 530 ▲2.31%
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National News
Saudi crown prince’s Pakistan visit postponed Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman's visit to Pakistan has been postponed which was scheduled to take place later in November. https://tribune.com.pk/story/2386028/saudi-crown-princes-pakistan-visit-postponed
Talks between IMF, Pakistan ‘rescheduled’ The schedule for talks between Pakistan and the International Monetary Fund (IMF) has been readjusted but the negotiations are continuing, official sources in Washington say. https://www.dawn.com/news/1720601/talks-between-imf-pakistan-rescheduled
Fiscal slippages: IMF calls on Pakistan to mobilise additional Rs800bn revenue Amid increasing fiscal slippages and external financing gap, Pakistan and the IMF are working out revised macroeconomic and fiscal framework, whereby the budget deficit and primary deficit are projected to escalate massively against the envisaged targets.
Industries receive notices of gas closure during winters Sui Southern Gas Company Limited (SSGCL) has sent gas closure notices for over three months in winters to industries in the city, which they rejected saying that gas outages would lead to massive layoffs and closure of businesses. https://www.thenews.com.pk/print/1009291-industries-receive-notices-of-gas-closure-during-winters
Car sales plunge 36 percent in October Car sales (PAMA members) plunged 36 percent in October 2022 as high borrowing costs, tight credit and a slowing economy dragged down demand, an industry body said on Friday. https://www.thenews.com.pk/print/1008920-car-sales-plunge-36-percent-in-october
Bank deposits jump 16pc to Rs22.4 trillion in October Banking sector deposits increased by 16 percent year-on-year to Rs22.4 trillion in October, a local brokerage house reported on Friday, citing figures from the State Bank of Pakistan. https://www.thenews.com.pk/print/1008918-bank-deposits-jump-16pc-to-rs22-4-trillion-in-october
Ogra cuts RLNG prices by up to 2.48 percent for November The Oil and Gas Regulatory Authority (Ogra) has cut average sale price of Re-gasified liquefied natural gas (RLNG) by up to 2.48 percent for November 2022 amid a fall in global wholesale gas prices. https://www.thenews.com.pk/print/1008915-ogra-cuts-rlng-prices-by-up-to-2-48-percent-for-november
OGRA opens LNG imports, sales to private sector he Oil and Gas Regulatory Authority (Ogra), on Friday, granted an RLNG sale licence to the Pakistan GasPort Consortium Limited (PGPCL), marking the first steps towards allowing the private sector a piece of the LNG imports and sales pie. https://tribune.com.pk/story/2385915/ogra-opens-lng-imports-sales-to-private-sector
Remittances fall 8.6pc to $9.9bn in July-October On Friday, the central bank data showed that remittances from Pakistanis working abroad dropped by 8.6 percent to $9.9 billion in the first four months of the current fiscal year. https://www.thenews.com.pk/print/1009032-remittances-fall-8-6pc-to-9-9bn-in-july-october
CDWP clears projects worth Rs139bn The Central Development Working Party (CDWP) on Friday cleared six projects worth Rs139 billion, particularly those relating to flood rehabilitation and water management. https://www.dawn.com/news/1720458/cdwp-clears-projects-worth-rs139bn
Pharma exports reach $325m mark, says DRAP CEO Pakistan’s pharmaceutical industry exports have reached $325 million owing to enabling business environment and within the next few years exports will further grow as the authorities are taking additional steps in facilitating the sector. https://www.brecorder.com/news/40208409/pharma-exports-reach-325m-mark-says-drap-ceo
Commodities and Currency: 1-Day Change
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