【Daily】13 September Brief of Pak BizNews
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KSE 100 41,862 ▼0.20% KMI 30 69,099 ▼0.17% KASB Tech Index 439 ▲0.89%
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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. https://epaper.brecorder.com/2022/09/13/1-page/942383-news.html
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. https://epaper.brecorder.com/2022/09/13/1-page/942382-news.html
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. https://epaper.brecorder.com/2022/09/13/12-page/942460-news.html
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. https://propakistani.pk/2022/09/12/auto-sales-may-drop-again-next-month-due-to-production-issues
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. https://www.thenews.com.pk/print/990737-chinese-firm-to-invest-in-telecom
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. https://epaper.brecorder.com/2022/09/13/7-page/942449-news.html
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. https://epaper.brecorder.com/2022/09/13/12-page/942457-news.html
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
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