【Daily】3 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 3, 2022


-Daily Market-

 KSE 100   41,129 0.28%

 KMI 30     67,463 0.25%

KASB Tech Index   466 2.01%


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


Petrol price cut by Rs12.63 per litre, diesel Rs12.13

Federal Finance Minister Ishaq Dar on Friday announced a reduction in POL prices — petrol by Rs12.63 per litre and High-Speed Diesel by Rs 12.13 per litre — with effect from October 1, 2022.



US provides $132m in debt relief to Pakistan

Washington on Friday rolled over an agreement to suspend service payments on $132 million of Pakistan’s debt, the U.S. embassy in Islamabad said, after devastating floods exacerbated the South Asian nation’s economic crisis.



March 2023: $2bn SAFE China deposits rollover sought

Pakistan has sought rollover of SAFE China deposits of $ 2 billion in March 2023. Nong Rong, ambassador of the People’s Republic of China called on Federal Minister for Finance and Revenue Senator Ishaq Dar, here at the Finance Division.



Govt shelves plan to regulate DAP imports

Apparently under pressure from the fertiliser industry, the federal government has reversed its decision of regulating the import of di-ammonium phosphate (DAP) by linking it with the approval of the Trading Corporation of Pakistan (TCP).



Inflation falls in September, remains at 13-year high

The pace of price rises slightly dipped in September, bringing down the annual inflation rate to 23.2 per cent, a figure still the highest in 13 years and also way above 9pc in the same month a year ago, official data showed on Saturday.



Tax collection jumps, returns filing date extended

The Federal Board of Revenue (FBR) collected Rs1.635 trillion in the first quarter of the current fiscal year, exceeding the Rs1.609tr target by Rs26bn, showed provisional data released on Friday.



OPEC+ to meet in Vienna for the first time since 2020

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organisation said Saturday.



CPHGC seeks revision in Nepra’s coal price notification

China Power Hub Generation Company (CPHGC) has sought revision in coal price notification of the National Electric Power Regulatory Authority (NEPRA) to reimburse part of local procurement as international coal prices are now less than local coal.



330MW Thar-coal power complex achieves commercial operation

Thar Energy Limited (TEL) would achieve commercial operation of its 330MW mine-mouth Thar-coal based power complex on Saturday, October 1, 2022, a bourse filing said.



Surge in prices of perishables drags SPI back up 0.94pc WoW

Sensitive price indicator (SPI) inflation jumped back up 0.94 percent week-on-week and 30.62 percent year-on-year during the seven-day period ended September 29, following surge in onion and tomato prices.



ECC approves DTP on imported urea at Rs2,150/bag

The Economic Coordination Committee on Friday approved the dealer transfer price of 50kg imported urea bag at Rs2,150 and incidental charges of Rs620.47 per bag, with sharing subsidy at 50:50 basis with provinces.




Commodities and Currency: 1-Day Change


USD 1672 0.03%


USD 19 0.85%

Crude Oil

USD 82 2.81%



Rs 228 ▼0.41%


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