【Daily】9 Feb. Brief of Pak BizNews
KSE 100 41,723 ▲0.48%
KMI 30 72,446 ▲0.69%
KASB Tech Index 524 ▲1.77%
KASB Market View
- Macroeconomic economic concerns and the heightened 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
Qatar agrees to buy OGDCL, PPL shares
Qatar has reportedly agreed to consider Pakistan’s offer to buy shares/ stakes of Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) and sell Mirage-2000 fighter aircrafts to Pakistan.
First six months: Fiscal deficit swells to 2pc of GDP
Fiscal deficit has been recorded at two per cent of the GDP or Rs1,683 billion during the first six months of the current fiscal year, according to the Finance Ministry. A summary of consolidated federal and provincial fiscal operation for July-December 2022-23, showed that total revenue stood at Rs4,698 billion against the total expenditure of Rs6,382 billion during the first six months of the current fiscal year.
Govt raises Rs464bn via MTBs’ sale
The government on Wednesday raised Rs464 billion through an auction of the Market Treasury Bills (MTBs) against a target of Rs800 billion, with yields on a short-duration paper rising slightly.
Primary deficit: Rs500bn waiver sought from IMF
Pakistan has requested the International Monetary Fund (IMF) for a waiver of Rs500 billion in the primary deficit on account of flood expenditure for the current fiscal year 2022-23.
Material shortage forces Pak Suzuki to halt plant for 5 more days
Pak Suzuki Motor Co Ltd (PSMC) has announced another five-day closure of its automobile plant, from February 13 till February 17, 2023, a bourse filing said on Wednesday.
Differences with IMF on external needs, power losses persist
Differences persist over external financing needs and power sector losses between the International Monetary Fund (IMF) and Pakistani side, delaying handover of the draft memorandum of economic and financial policies (MEFP) to the Pakistan side.
WAPDA to add 10,000MW hydroelectricity by 2030
Water and Power Development Authority (WAPDA) will add as much as 10,000MW of low-cost, green and clean hydroelectricity to installed power generation capacity of the country by 2030 with phased completion of its under-construction projects.
Commodities and Currency: 1-Day Change
Gold: USD 1891 ▲0.03%
Silver: USD 22 ▲0.01%
Crude Oil USD 78 ▼0.08%
USD-PKR: Rs 275 ▼0.03%