【Daily】12 September Brief of Pak BizNews

-Daily Market-

 KSE 100   41,948 ▲0.29%

 KMI 30     69,220 ▲0.12%

KASB Tech Index   435 ▲1.57%

KASB Market View

• Interest rates were kept unchanged at 15% as SBP cited comfort in the prevalent economic cooldown
• 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

Guterres advocates new repayment model for Pakistan

United Nat­ions Secretary-General Ant­onio Guterres on Saturday urged global financial institutions to create a new mechanism for countries like Pakistan to enable investment in climate resilience and sustainable infrastructure, instead of getting mired in debt repayment.

https://www.dawn.com/news/1709497/guterres-advocates-new-repayment-model-for-pakistan

AIIB asked to increase funding to $1bn

Pakistan on Friday asked Asian Infrastructure and Investment Bank (AIIB) to enhance its overall financing for the current fiscal year to $1 billion.

https://www.dawn.com/news/1709316/aiib-asked-to-increase-funding-to-1bn

Cartelisation, abuse of dominance: CCP investigating potential involvement of two float glass manufacturers

Float glass, an important component of the construction sector, is under scrutiny of the Competition Commission of Pakistan (CCP) to investigate possible involvement of two dominant float glass manufacturers in cartelisation and abuse of dominance.

https://www.brecorder.com/news/40196689/cartelisation-abuse-of-dominance-ccp-investigating-potential-involvement-of-two-float-glass-manufacturers

RLNG prices reduced for SSGCL, raised for SNGPL

The Oil and Gas Regulatory Authority (Ogra), on Friday, reduced the prices of imported Re-gasified Liquefied Natural Gas by -0.01 percent for Sui Southern Gas Company Limited (SSGCL) and increased by 0.19 percent for Sui Northern Gas Pipeline Limited (SNGPL).

https://www.brecorder.com/news/40196690/rlng-prices-reduced-for-ssgcl-raised-for-sngpl

PSO urges Power Div to revisit furnace oil demands

Pakistan State Oil (PSO) has urged Power Division to revisit furnace oil demand for the month of October 2022, keeping in view considerable variance in demand and upliftment in September 2022, well informed sources told Business Recorder.

https://www.brecorder.com/news/40196704/pso-urges-power-div-to-revisit-furnace-oil-demands

July FCA: KE to refund Rs4.12 per unit to consumers

National Electric Power Regulatory Authority (NEPRA) has directed K-Electric (KE) to refund Rs 7.40 billion @ Rs 4.12 per unit to its consumers for July 2022 under monthly Fuel Charges Component (FCA) mechanism.

https://www.brecorder.com/news/40196706/july-fca-ke-to-refund-rs412-per-unit-to-consumers

Govt to start clearing dues of Chinese IPPs from next week

The government on Friday promised to start making payments to independent power producers (IPPs) set up under the China-Pakistan Economic Corridor early next week and set a schedule for regular monthly payments for a full fiscal year to the satisfaction of Chinese investors.

https://www.dawn.com/news/1709308/govt-to-start-clearing-dues-of-chinese-ipps-from-next-week

Weekly inflation slows down to 43pc

The weekly inflation dropped slightly and posted an increase of 42.70 per cent largely driven by essential kitchen items and high energy costs, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.

https://www.dawn.com/news/1709312/weekly-inflation-slows-down-to-43pc

Commodities and Currency: 1-Day Change