【Daily】20 April Brief of Pak BizNews

-Daily Market-

KSE 100 40,499 ▲0.13%

KMI 30 70,530 ▲0.21%

KASB Tech Index 486 ▼2.15%

 

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

Jul-Mar 2022-23: Govt borrowing declines 39.18pc to $7.76bn YoY

The government has borrowed $7.764 billion from multiple financing sources, including $900 million from foreign commercial banks, during the first nine months (July-March) of 2022-23 compared to $12.767 billion borrowed during the same period of last fiscal year, showing a decline of 39.18 percent.

https://www.brecorder.com/news/40238205/jul-mar-2022-23-govt-borrowing-declines-3918pc-to-776bn-yoy

 

PAC directs FIA to seize property, freeze bank accounts of Hascol

The Public Accounts Committee (PAC) Wednesday directed the Federal Investigation Agency (FIA) to initiate the process of confiscation of the property and freeze the bank accounts of Hascol Petroleum Limited.

https://www.brecorder.com/news/40238193/pac-directs-fia-to-seize-property-freeze-bank-accounts-of-hasco

 

Wapda receivables touch the Rs232.6bn mark

Water and Power Development Authority’s (Wapda) receivables stock has reached Rs 232.644 billion due to insufficient payments by Central Power Purchasing Agency –Guaranteed (CPPA-G), well informed sources in Wapda told Business Recorder.

https://www.brecorder.com/news/40238200/wapda-receivables-touch-the-rs2326bn-mark

 

PM for removing impediments to import of solar panels, other parts

Prime Minister Shehbaz Sharif on Wednesday directed for fast implementation of solarization project in the country by immediately removing all the impediments in the import of solar panels and other parts.

https://www.brecorder.com/news/40238198/pm-for-removing-impediments-to-import-of-solar-panels-other-parts

 

C/A posts $654m surplus in March

The country’s current account posted a surplus of $654 million in March after a gap of over two years supported by higher home remittances inflows and contraction in imports.

https://www.brecorder.com/news/40238197/ca-posts-654m-surplus-in-march

 

Minimum bill for gas consumers fixed at Rs500

The federal government on Wednesday fixed minimum bill for gas consumers at Rs500. Fixed charges of Rs500 have been slapped on the bills of non-protected consumers.

https://www.brecorder.com/news/40238186/minimum-bill-for-gas-consumers-fixed-at-rs500

 

Commodities and Currency: 1-Day Change

Gold: USD 2005 ▼0.14%

Silver: USD 25 ▼0.47%

Crude Oil: USD 81 ▼1.05%

USD-PKR: Rs 281 ▼0.230%