【Daily】16 Jan. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Jan 16, 2023

-Daily Market-

 KSE 100   40,323 ▼1.18%

 KMI 30     69,290 ▼1.74%

KASB Tech Index   504 ▼1.19%


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


Govt to keep fuel prices unchanged

Finance Minister Ishaq Dar while addressing the media in Lahore on important decisions taken by the ruling coalition said that petroleum prices would be "maintained as they are" and no changes would be implemented for the remaining 15 days of January.



Remittances plunge 19pc year-on-year in Dec as illegal flows rise

Remittances from Pakistanis working abroad dropped to a 31-month low at $2.0 billion in December, central bank data showed on Friday, pointing to a shift towards unofficial channels for fund transfers.



Thousands of containers held up at Karachi port as dollars dry up

Thousands of containers packed with essential food items, raw materials and medical equipment have been held up at Karachi port as the country grapples with a desperate foreign exchange crisis.



Nepra allows K-Electric to charge Rs4.45/unit extra for four months

The National Electric Power Regulatory Authority (Nepra) Friday allowed K-Electric to collect up to an additional Rs4.45/unit on account of quarterly tariff adjustments (QTA) for October to Dec 2022, which will be charged in the next four months starting from January to April 2023.



Plan to turn to friendly countries for additional deposits

The government is considering approaching friendly countries, especially Saudi Arabia, for additional deposits on an immediate basis and to end the ‘wait and see’ policy.



Indus Motor delivers up to Rs1.2m price hike

Despite a 30-59 per cent drop in sales of various models due to unfavourable economic conditions that led to plant closure from Dec 20-30, 2022, Indus Motor Company (IMC) has surprised its buyers by jacking up the prices by Rs280,000 to Rs1.2 million.



Pak Suzuki extends plant shutdown by another week

Pak Suzuki Motor Company (PSMC) on Friday announced to extend shutdown of its automobile plant till January 20 on the back of inventory shortages.



FY 2022-23: Ogra determines up to 11.5pc increase in gas prices

The Oil and Gas Regulatory Authority (Ogra) has determined up to 11.5 percent increase in the prescribed price of gas for consumers of both gas companies - the Sui Northern Gas Pipeline Limited (SNGPL) and the Sui Southern Gas Company (SSGC) for the current financial year 2022-23.



Rs550bn tax gap largely falls in five sectors: FBR

The huge sales tax gap of Rs 550 billion largely falls in food, beverages, tobacco, textile, wholesale and retail trade sectors.





Commodities and Currency: 1-Day Change


USD 1929 0.40%


USD 25 1.10%

Crude Oil

USD 80 ▼0.76%


Rs 229 0.09%

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