【Daily】2 Dec. Brief of Pak BizNews
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KSE 100 42,394 ▲0.11% KMI 30 71,775 ▲0.01% KASB Tech Index 565 ▼0.23%
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National News
Jul-Nov trade deficit shrinks 30.14pc to $14.406bn YoY Pakistan’s trade deficit narrowed down by 30.14 percent to $14.406 billion during the first five months (July-November) of the current fiscal year as compared to $20.621 billion during the same period of last year, says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2022/12/02/1-page/948840-news.html
Nov CPI inflation jumps 23.8pc YoY The Consumer Price Index (CPI) based inflation increased to 23.8 percent on a year-on-year basis in November 2022 as compared to an increase of 26.6 percent in the previous month and 11.5 percent in November 2021, says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2022/12/02/1-page/948841-news.html
Remittances may drop by 7.4pc to $29bn: WB Remittances are expected to drop by 7.4 percent to $29 billion in 2022 from $31 billion in 2021, as loss of confidence contributed to migrants’ preference for the parallel exchange market and informal channels of money transfer, which further decreased official remittance flows to the country, says the World Bank. https://epaper.brecorder.com/2022/12/02/1-page/948842-news.html
Forex reserves fall $267m The country’s total liquid foreign exchange reserves fell $ 267 million during the last week because of foreign debt payments. https://epaper.brecorder.com/2022/12/02/1-page/948843-news.html
PL increased to generate Rs36.199bn The federal government has increased petroleum levy on High Speed Diesel (HSD) by 98 percent, 17 percent on Kerosene Oil (SKO) and on Light Diesel Oil (LDO) by 94 percent projected to generate Rs 36.199 billion for the first fortnight of December (1-15). https://epaper.brecorder.com/2022/12/02/1-page/948844-news.html
LPG price up by Rs11.7/kg for Dec The Oil and Gas Regulatory Authority (OGRA) has increased the price of Liquefied Petroleum Gas (LPG) by Rs11.7 per kg for December 2022 as compared to last month. https://epaper.brecorder.com/2022/12/02/1-page/948847-news.html
No curbs on oil, LNG and POL products’ LCs: SBP The State Bank of Pakistan (SBP) has strongly rebutted placing any restriction on Letters of Credit (LCs) for import of oil, LNG and petroleum products. https://epaper.brecorder.com/2022/12/02/1-page/948845-news.html
PRL barred from shutting down this month The Oil and Gas Regulatory Authority (Ogra) has barred Pakistan Refinery Limited (PRL) from shutting down in December 2022 to meet diesel requirements in the winter months https://epaper.brecorder.com/2022/12/02/1-page/948846-news.html
UN launches record $51.5bn funding appeal The UN appealed for record funds for aid next year, as the Ukraine war and other conflicts, climate emergencies and the still-simmering pandemic push more people into crisis, and some towards famine. https://epaper.brecorder.com/2022/12/02/1-page/948850-news.html
PM for implementation of agreement reached at COP27 Prime Minister Shehbaz Sharif has emphasised the need of practical implementation of the loss and damages agreement reached at COP27 Conference and manifestation of the commitment. https://epaper.brecorder.com/2022/12/02/1-page/948852-news.html
Flood relief activities Pakistan has so far received $ 738.530 million of foreign financial assistance i.e. around 22 percent against the total commitment of $ 3.4 billion from multilateral and bilateral partners to support the flood relief activities in the country. https://epaper.brecorder.com/2022/12/02/1-page/948853-news.html
Removal of duty on electrical vehicles triggers affordability debate The expiry of regulatory duty SRO on the import of electric vehicles (EVs) has triggered a debate about the affordability of EV imports, especially in the middle of fast depleting foreign exchange reserves and who it would benefit.
SRB posts 22pc growth in 5MFY23 Sindh Revenue Board (SRB) on Thursday posted a growth of 22 percent in first five months of the financial year 2022-23, as compared to the same period last year. https://www.thenews.com.pk/print/1015819-srb-posts-22pc-growth-in-5mfy23
Commodities and Currency: 1-Day Change
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