【Daily】4 April Brief of Pak BizNews
KSE 100 39,890 ▼0.28%
KMI 30 69,284 ▼0.08%
KASB Tech Index 484 ▲0.97%
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
MPC meeting today: further hike expected
The meeting of the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will be held Tuesday (Apr 4) for deliberation on key economic issues to decide about the key policy rate.
Dar to attend spring meetings of IMF, WB
Finance Minister Ishaq Dar will visit the United States from April 10 to 16 to attend the upcoming annual spring meetings of the International Monetary Fund (IMF) and the World Bank, sources said.
Govt plans to borrow Rs7.99tr via T-bills, bonds in 3 months
The government aims to borrow Rs7.99 trillion through treasury bills (T-bills) and bonds in April-June to meet its high financing needs.
Jul-Mar trade deficit shrinks 35.51pc to $22.9bn YoY
Pakistan’s trade deficit narrowed by 35.51 percent to $22.9 billion during the first nine months (July-March) of the current fiscal year 2022-23 as compared to $35.509 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
MoF lists factors causing fiscal deficit crisis
The Finance Ministry has stated that the sharp (V-shaped) economic recovery after the control of Covid-19, coupled with the international market dynamics in response to the Russia-Ukraine conflict, has put the country into a crisis in terms of higher fiscal deficit.
Sales of petroleum products plunge 39% year-on-year in March
Sales of total petroleum products clocked in at 1.11 million tons in March 2023, a decline of over 39% year-on-year, mainly due to lower demand of Furnace Oil (FO) for power generation and slowdown in economic activity due to Ramadan.
Kirthar exploration licence: ECC approves grant of second two-year renewal
The Economic Coordination Committee (ECC) of the Cabinet has approved the grant of second two years’ renewal over Kirthar Exploration License Block after it was told that the government is taking various measures to reduce the challenge of the widening gap between energy supply-demand.
Russia to send first oil consignment by May
Russia will send its first consignment of crude oil to Pakistan by next month (May) after Islamabad agreed to Moscow’s demand to import just a single cargo, sources said.
March cement despatches decline by 24.19pc
Construction activities in both the northern and southern regions of the country have significantly decreased since last many months which is creating alarming situation for the cement industry as its despatches during the month of March 2023 declined by 24.19 percent.
Sugar retail price goes up by Rs20/kg in a month
Sugar price in the country within the past one month has registered an increase of Rs20 per kg in the retail market, while in the wholesale market, the commodity price has jumped from Rs4,500 per 50-kg bag to Rs5,600 per bag.
Commodities and Currency: 1-Day Change
Gold: USD 1997 ▼0.22%
Silver: USD 24 ▲0.02%
Crude Oil USD 81 ▲0.51%
Rs 285 ▲0.07%