【Daily】5 Jan. Brief of Pak BizNews
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KSE 100 40,539 ▼0.22% KMI 30 68,573 ▼0.32% KASB Tech Index 507 ▲ 0.67%
KASB Market View
National News
Saudi help to boost reserves this month: Ishaq Dar Terming the PTI’s white paper totally misleading, Federal Minister for Finance Ishaq Dar Wednesday said the Saudi financial assistance would boost the dwindling foreign exchange reserves during the current month. https://www.thenews.com.pk/print/1027226-saudi-help-to-boost-reserves-this-month-dar
Ecnec okays 11 uplift schemes worth Rs470bn The Executive Committee of the National Economic Council (Ecnec) under the Chairmanship of Finance Minister Ishaq Dar on Wednesday approved 11 development schemes of approximately Rs470 billion, including Prime Minister’s Laptop Scheme with estimated cost of Rs10.827 billion. https://www.thenews.com.pk/print/1027380-ecnec-okays-11-uplift-schemes-worth-rs470bn
Global slowdown, higher construction costs weaken cement sales Cement sales declined by more than 20 percent to record at 21.764 million tonnes in the first half of the current fiscal on the back of higher construction cost and global economic slowdown.
Oil prices fall 4 percent on mounting worry about global economy YORK: Oil fell by more than $3 a barrel on Wednesday after slumping in the previous session, weighed down by demand concerns stemming from the state of the global economy and rising Covid cases in China.
Urea price likely to increase as Agritech halts production The price of urea fertiliser may see a rising trend following closure of a manufacturing plant on natural gas shortages, which is basic raw material for producing farm compost. https://www.thenews.com.pk/print/1027245-urea-price-likely-to-increase-as-agritech-halts-production
Geneva moot: Pakistan seeking to generate $8bn ISLAMABAD: Pakistan is eying generating around $8 billion from the international community and donor agencies for the rehabilitation and reconstruction of the flood-affected people from the “International Conference on Climate Resilient Pakistan” scheduled to be held on January 9 in Geneva. https://www.brecorder.com/news/40218506/geneva-moot-pakistan-seeking-to-generate-8bn
Customs values of caustic soda revised upward Directorate General of Customs Valuation Karachi has made 35 percent increase in customs values on the import of Sodium Hydroxide (Caustic Soda) from Saudi Arabia, Kuwait, and Middle East origins, Taiwan, Korea, China and Europe. https://www.brecorder.com/news/40218501/customs-values-of-caustic-soda-revised-upward
Aluminium waste, auto-parts scrap: Customs classification body imposes 30pc duty The customs classification committee of the Federal Board of Revenue (FBR) has imposed 30 percent customs duty on the import of aluminium waste and scrap of auto-parts’, and not zero percent duty as claimed by the importer.
Commodities and Currency: 1-Day Change
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