【Daily】20 Sept. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Sep 20, 2022

-Daily Market-

 KSE 100   41,521 ▼0.38%

 KMI 30     68,299 ▼0.47%

KASB Tech Index   463 0.40%


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


PM Shehbaz arrives in New York to attend UNGA session

Prime Minister Shehbaz Sharif will reach New York from London on Monday (today) to represent Pakistan in the 77th session of the United Nations General Assembly (UNGA).



NPCs: rate of return revised upward

The Government of Pakistan, Finance Division (External Finance Wing), has notified the revision in rate of return in PKR-denominated NPCs and also revised downward the minimum denomination of NPCs.



Rupee inches close to historic low, settles at 237.91 against US dollar

Pakistan's rupee continued to sustain losses against the US dollar for the 12th successive session, settling with a depreciation of 0.45% in the inter-bank market on Monday, as expectation of a higher import bill and the greenback's global strength added to pressure on the currency.



OGDC says gas reserves discovered in Khyber Pakhtunkhwa

Gas reserves have been discovered in Tolanj West-02, a development well in Tal block located in Kohat Plateau, Khyber Pakhtunkhwa, said Oil & Gas Development Company Limited (OGDCL) in a notice sent on Monday to the Pakistan Stock Exchange (PSX).



PSO eyes building $500mn LNG terminal near Karachi: report

Pakistan State Oil (PSO), the state-owned importer and retailer of petroleum products, is planning to build a $500-million liquefied natural gas (LNG) terminal, as the company seeks to diversify its portfolio, reported Bloomberg on Monday.



DISCOs seek an increase of PKR 0.219 per unit in Electricity Bills for August 2022

ASTL to resume Based on the information provided by Central Power Purchasing Agency Guarantee Limited (CPPA-G), NEPRA is set to increase electricity prices by PKR 0.2192 per unit for the month of August 2022 due to high fuel cost adjustment (FCA).



production from Oct 1st

Amrelli Steels (ASTL) announced that the company will resume production from 1st October 2022, the company’s filings on the stock exchange showed.



Wheat imports put big strain on forex reserves: ADB

The shortage of wheat production in the recent past, set against the domestic requirements of an ever-increasing population, has triggered price hikes, while wheat imports strained the country’s foreign exchange reserves, says the Asian Development Bank (ADB).



Cotton Arrivals drop by 18.6% as of Sept 15

Cotton arrivals in the country dropped by 18.6% to 2.18million bales as of Sept 15, due to extensive rainfall in Sindh, Punjab, and Balochistan which damaged cotton crops.



Global Steel prices to remain on a downward trend: Fitch

Steel demand in China and other countries for the years 2022-2023 will remain low due to an increase in the interest rate and the global energy crisis, according to a report published by fitch solutions




Commodities and Currency: 1-Day Change


USD 1685 0.42%


USD 20 0.93%

️Crude Oil

USD 86 0.23%



Rs 240 0.10%


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