【Daily】10 Jan. Brief of Pak BizNews
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KSE 100 40,505 ▼1.23% KMI 30 69,643 ▼0.65% KASB Tech Index 508 ▼2.77%
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$10.7b pledged as Pakistan races against time Pakistan on Monday said that donors had so far committed $10.7 billion to help it recover from last year's devastating floods at the International Conference on Climate Resilient Pakistan which was co-hosted by the government of Pakistan and the United Nations in Geneva. https://tribune.com.pk/story/2394926/107b-pledged-as-pakistan-races-against-time
Disaster risk reconstruction: ADB to reprioritise $1bn over 3 years The Asian Development Bank (ADB) will reprioritise up to $1 billion for climate and disaster risk reconstruction, as well as, resilience support over the next three years for Pakistan.
Meeting between Dar, IMF officials: Pakistan reaffirms commitment Pakistan reiterated its commitment to completing a programme with the International Monetary Fund in a meeting on the sidelines of a climate conference in Geneva on Monday, the finance ministry said in a statement.
Demands for reforms: PM asks IMF for a pause Prime Minister Shehbaz Sharif on Monday asked the IMF for a pause in its demands for economic reforms before releasing more financial aid, as the country tries to rebuild after catastrophic floods. https://www.brecorder.com/news/40219333/demands-for-reforms-pm-asks-imf-for-a-pause
COAS, MBS agree to bolster defence cooperation Chief of Army Staff (COAS) General Asim Munir has met Saudi Crown Prince and Prime Minister Mohammad bin Salman to discuss bilateral relations. https://www.brecorder.com/news/40219336/coas-mbs-agree-to-bolster-defence-cooperation
Pakistan may dodge default in next 6 months: Bloomberg Pakistan is likely to dodge default in the next six months, but its troubles are not over, stated Bloomberg Economics in a report on Monday. https://www.brecorder.com/news/40219334/pakistan-may-dodge-default-in-next-6-months-bloomberg
14th successive loss: rupee falls yet again against US dollar Pakistan’s rupee registered a marginal loss against the US dollar for the 14th consecutive session, depreciating 0.12% in the inter-bank market on Monday. https://www.brecorder.com/news/40219148/14th-successive-loss-rupee-falls-yet-again-against-us-dollar
FBR sees Rs1289bn tax gap for 2022 The Federal Board of Revenue (FBR) has worked out overall tax gap of Rs1,289 billion during 2022, which is, 26 percent of potential collectable tax under the current taxation regime. https://www.brecorder.com/news/40219343/fbr-sees-rs1289bn-tax-gap-for-2022
Mari Petroleum discovers new gas reserves in Sindh Mari Petroleum Company Limited (MPCL) on Monday announced a gas discovery at an exploratory well in Sindh, with a gas flow rate of 5.1 million standard cubic feet per day (mmscfd), making its first discovery for the new year 2023. https://www.thenews.com.pk/print/1028936-mari-petroleum-discovers-new-gas-reserves-in-sindh
Car making components: FBR to charge 15pc duty on import The Federal Board of Revenue (FBR) will charge 15 percent customs duty on the import of components for the assembly/ manufacture of new motorcars including station wagons and racing cars. https://www.brecorder.com/news/40219326/car-making-components-fbr-to-charge-15pc-duty-on-import
Commodities and Currency: 1-Day Change
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