【Daily】27 March Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Mar 27, 2023

-Daily Market-

KSE 100 39,942 ▼1.08%
KMI 30 68,778 ▼1.10%
KASB Tech Index 484 ▼0.82%

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 

National News
SBP withdraws cash margin requirement on imports
State Bank of Pakistan has removed the existing cash margin requirement on imports, an action interpreted by analysts as another step towards resuming the stalled International Monetary Fund loan programme.

IMF flags external financing hurdle for bailout deal
The International Monetary Fund (IMF) has made it clear that the staff-level agreement with Pakistan will be inked only after the multilateral and bilateral partners materialized sufficient external financing needs.

Chinese IPPs circular debt: Outstanding amount rises to Rs350bn
The current outstanding payment on account of circular debt for Chinese Independent Power Producers (IPPs) has risen up to Rs350 billion with growing demands to clear the backlog.

Short-term inflation spikes to record 46.65pc
Short-term inflation, based on the Sensitive Price Index (SPI), rose to an unprecedented 46.65 per cent year-on-year for the combined income group for the period ending March 22, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.

Ogra discusses exchange rate adjustment mechanism with OMCs
The Oil and Gas Regulatory Authority (Ogra) convened a meeting with the oil marketing companies (OMCs) on Friday on their request to discuss the mechanism of exchange rate adjustment last week.

Kia car prices raised
Lucky Motor Corporation Ltd (LMCL) has increased the prices of various vehicles by Rs50,000-500,000 effective from April 1.

SBP forex reserves inch up $280m to $4.6bn
Foreign exchange reserves held by the State bank of Pakistan increased by $280 million to $4.598 billion in the week ending March 17, it said on Friday.

Rs 60 bn subsidy provided for free flour scheme: PML-N leader
Former State Minister/ Central leader of Pakistan Muslim League-Nawaz (PML-N) Muhammad Talal Chaudhary said that federal government has provided subsidy of Rs.60 billion for free flour scheme to assist 100 million people during the month of Holy Ramzan.

Commodities and Currency: 1-Day Change
 Gold: USD 1995 ▼0.35%
 Silver: USD 23 ▼0.45%
 Crude Oil USD 69 ▲0.05%

USD-PKR: Rs 284 0.61%

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