【Daily】25 July Brief of Pak BizNews

-Daily Market-

KSE 100 46,055 ▲0.29% 

KMI 30 77,095 ▲0.10%

KASB Tech Index 457 ▼0.48%

 

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

Auction Result: SBP sells T-bills worth Rs621bn

The State Bank of Pakistan (SBP) conducted an auction on Monday in which it sold Market Treasury Bills (MTBs) worth Rs621.33 billion for 3, 6 and 12 months.

https://mettisglobal.news/auction-result-sbp-sells-t-bills-worth-rs621bn/

 

LNG supply: Framework agreement inked with Azerbaijan

In a bid to help fulfill country’s energy requirements through cooperation in the fields of oil and gas, Pakistan has signed a framework agreement with Azerbaijan for LNG procurement on flexible terms.

https://www.brecorder.com/news/40254475/lng-supply-framework-agreement-inked-with-azerbaijan

 

POL products worth $1.182bn imported on deferred payment basis

Pakistan imported petroleum products worth $ 1.182 billion on a deferred payment basis under the Saudi oil facility during the fiscal year 2022-23 against the budgeted estimates of $ 800 million.

https://www.brecorder.com/news/40254471/pol-products-worth-1182bn-imported-on-deferred-payment-basis

 

Tax under Section 7E on immoveable properties: Inland revenue chief commissioners issued instructions

The Federal Board of Revenue (FBR) Monday issued draft of proposed amendments in the Inland Revenue Statutes for simplification and harmonization of existing tax laws.

https://www.brecorder.com/news/40254464/tax-under-section-7e-on-immoveable-properties-inland-revenue-chief-commissioners-issued-instructions

 

Vitol wins PARCO contract to sell fuel oil abroad

Vitol Group, the world's largest independent oil trader, has secured a contract to sell 50,000 metric tonnes of high-sulfur fuel oil from Pak Arab Refinery Ltd. (PARCO) in the international market, The News learned on Monday.

https://www.thenews.com.pk/print/1093804-vitol-wins-parco-contract-to-sell-fuel-oil-abroad

 

Russia unhappy with Pakistan’s slow progress on SPV

Pakistan's plan to import Russian crude oil under a government-to-government (G2G) mechanism has hit a snag as Moscow is unhappy with the delay in setting up a Special Purpose Vehicle (SPV) to handle the payments and shipments, sources said on Monday.

https://www.thenews.com.pk/print/1093805-russia-unhappy-with-pakistan-s-slow-progress-on-spv

 

Margins raised to appease petrol dealers

The federal government has agreed to increase the margin of petroleum dealers by Rs 1.64 per litre after a marathon meeting on Monday, in a bid to forestall a strike threatened by dealers.

https://www.dawn.com/news/1766643/margins-raised-to-appease-petrol-dealers

 

Commodities and Currency: 1-Day Change

Gold: USD 1963 ▲0.03%

Silver: USD 25 ▲0.41%

Crude Oil: USD 79 ▲0.19%

USD-PKR: Rs 289 ▲0.10%