【Daily】21 Dec. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Dec 21, 2022

-Daily Market-

 KSE 100   39,832 ▼2.78%

 KMI 30     66,502 ▼3.01%

KASB Tech Index   525 ▼4.74%


KASB Market View


  • Macroeconomic economic concerns and the heighted political noise will likely keep the market’s performance ranged-bound. The upcoming CPI inflation reading may influence expectations of monetary policy tightening.
  • 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 victims in Sindh, WB approves financing for 5 projects

The World Bank’s Board of Executive Directors has approved $1.692 billion in financing for five projects to support people living in flood-affected areas of Sindh.



July-Nov services sector deficit falls over 50pc to $865m YoY

Services sector is presenting an improved picture with some 50 percent decline in the trade deficit during the first five months of current fiscal year (FY23) supported by exports growth and lower import bill.



PKR: marginal improvement

After witnessing marginal improvement in the opening hours of trading, Pakistan’s rupee ended the session with a loss of 0.08% against the US dollar in the inter-bank market on Tuesday.



Oil refinery project; Chinese team visits Gwadar

In order to materialise the $4.5 billion oil refinery project in Gwadar, five-member delegation of Chinese Company “East Sea Group Limited (ESGL)” is visiting Gwadar, Gwadar Pro reported on Tuesday.



Senate body seeks full record of KESC privatization

The Senate Standing Committee on Power has sought complete record of privatisation process of Karachi Electric Supply Corporation (KESC), now Karachi Electric (KE), including the hiring process of the financial advisors (FAs).



Foreign loans of IPPs, PPIB seeks guidance to replace Libor with SOFR

The Private Power Infrastructure Board (PPIB) has proposed the Finance Ministry to provide guidance regarding the acceptability of Secured Overnight Financing Rate (SOFR) as an alternative benchmark to LIBOR for existing foreign loans of IPPs,



FTO issues second order against MTL

Federal Tax Ombudsman (FTO) has unearthed that Millat Tractors Limited (MTL) has not passed on the relief granted through Finance Act, 2022 to the end consumers by over charging sales tax, and recommended to refund the excessive amount collected on delivery of tractors after July 1, 2022.



Globe Residency REIT raises Rs388m

Javedan Corporation Limited has received a subscription of Rs 387,945,000 from the general public through a two-day offer for sale process. The offer for sale was over-subscribed by 2.77 times.



Dar for resolving outstanding issues between Etisalat, PC

Finance Minister Ishaq Dar has emphasized of resolving outstanding issues between Etisalat and the Privatization Commission and moving ahead for a mutually beneficial solution.





Commodities and Currency: 1-Day Change


USD 1824 ▼0.07%


USD 24 ▼0.34%

Crude Oil

USD 76 ▼0.04%


Rs 226 0.39%

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