【Daily】13 September Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Sep 13, 2022

-Daily Market-

 KSE 100   41,862 ▼0.20%

 KMI 30     69,099 ▼0.17%

KASB Tech Index   439 0.89%


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


Rupee depreciates to settle at 229.82 against US dollar

Pakistan's rupee continued to sustain losses against the US dollar for the seventh successive session, settling with a depreciation of 0.71% in the inter-bank on Monday as a shortage of greenback kept the local currency under pressure.



Nepra hikes Discos’ tariff by Rs4.34/unit

National Electric Power Regulatory Authority (Nepra) on Monday increased tariffs of power Distribution Companies (Discos) by Rs 4.34 per unit for July 2022 under monthly Fuel Charges Adjustment (FCA) mechanism.



Financial close, RCO of Thar coal project

M/s Shanghai Electric has sought extension in financial closing date and required commercial operation (RCO) date sans conditions for its 1,320 MW Thar coal project till December 31, 2022 and July 22, 2023 respectively, saying that circumstances are not in the company’s control.



Tractor manufacturing; Imports of auto parts will be made easier: Miftah

Finance Minister Miftah Ismael has said the country’s economy is heading in the right direction due to government’s prudent economic policies.



Auto Sales May Drop Again Next Month Due to Production Issues

The inflationary pressures and import hurdles continue to pound the local auto industry. Carmakers have witnessed a decline in production, which may cause sales to plummet further in the coming months.



Chinese firm to invest in telecom

Hunan Sunwalk Group, China has planned to undertake a multi billion dollar investment in telecom infrastructure and fiber business in Pakistan, specifically in Tier-2 and Tier-3 cities, a statement said on Monday.



SECP proposes enhancement in scope of REITs assets

The Securities and Exchange Commission of Pakistan (SECP) has proposed to enhance the scope of the Real Estate Investment Trusts (REITs) assets in Pakistan including agriculture, healthcare, transport, power/energy, and telecommunication.



Wheat price jumps by Rs10 per kg

Wheat grain prices have sharply risen by Rs 1,000 per 100-kg bag during the last one week due to expected shortage of the commodity.



Textile millers gear up to source cotton for meeting export orders

As sizeable amount of Pakistan’s domestic cotton crop was ravaged by the floods, textile millers have geared up to source the silver fiber from around the world in an effort to maintain the export momentum.



Commodities and Currency: 1-Day Change


USD 1733 ▼0.44%


USD 20 ▼1.13%

Crude Oil

USD 88 ▼0.17%


Rs 232 0.22%

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