【Daily】14 Nov. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Nov 14, 2022

-Daily Market-

 KSE 100   43,093 0.45%

 KMI 30     73,105 0.62%

KASB Tech Index   530 2.31%


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


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.



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.



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.



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.



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.



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.



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.



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.



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.



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.




Commodities and Currency: 1-Day Change


USD 1768 ▼0.09%


USD 22 ▼0.02%

Crude Oil

USD 89 0.24%


Rs 222 0.15%

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