【Daily】25 Nov. Brief of Pak BizNews

-Daily Market-

 KSE 100   42,904 ▲0.05%

 KMI 30     72,890 ▲0.04%

KASB Tech Index   567 ▼0.51%

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

Flood relief operations, reconstruction

The National Assembly Standing Committee on Foreign Affairs was informed that following the UN Flash appeal, Pakistan has received $3.4 billion for flood relief operations and reconstruction.

https://epaper.brecorder.com/2022/11/25/1-page/948262-news.html

PM picks Munir as COAS, much to IK’s chagrin

President Arif Alvi Thursday signed the summary and approved the appointment of Lt Gen Sahir Shamshad Mirza as chairman of the Joint Chiefs of Staff Committee and Lieutenant General Asim Munir as the next chief of army staff.

https://epaper.brecorder.com/2022/11/25/1-page/948265-news.html

Urea import

The Economic Coordination Committee (ECC) of the Cabinet has directed the Trading Corporation of Pakistan (TCP) to explore options for fresh tendering/G2G basis of 40,000 MTs of urea to meet the requirements.

https://epaper.brecorder.com/2022/11/25/1-page/948266-news.html

THE RUPEE: PKR falls marginally

Pakistan’s rupee fell marginally against the US dollar, depreciating 0.05% in the inter-bank market on Thursday.

https://epaper.brecorder.com/2022/11/25/1-page/948269-news.html

Forex reserves fall by $134m

The total liquid foreign exchange reserves held by State Bank of Pakistan (SBP) decreased by $134 million to $7.825 billion during the week ended on November 18, 2022 due to external debt repayment.

https://www.brecorder.com/news/40210776/forex-reserves-fall-by-134m

Hubco starts legal proceedings against encashment notice

The Hub Power Company Ltd (Hubco) has started legal proceedings against an encashment notice by China Power Hub Generation Company Limited (CPHGC), a statement said on Thursday.

https://www.thenews.com.pk/print/1013438-hubco-starts-legal-proceedings-against-encashment-notice

Financing boost under ISREP likely to cut circular debt, grid dependence: Study

Research by economists and academia has urged the State Bank of Pakistan (SBP) to provide more financing to individuals like housing societies, commercial buildings, and localities under the Incentive Scheme for Renewable Energy Programs (ISREP).

https://www.thenews.com.pk/print/1013443-financing-boost-under-isrep-likely-to-cut-circular-debt-grid-dependence-study

Value-added textile sector demands revival of zero-rating regime

Textile exporters asked the government to restore zero-rating regime for five-export oriented sectors on Thursday, saying ongoing economic uncertainty and stuck refund claims had put them on the verge of closure.

https://www.thenews.com.pk/print/1013444-value-added-textile-sector-demands-revival-of-zero-rating-regime

Commodities and Currency: 1-Day Change