【Daily】19 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 19, 2022

-Daily Market-

 KSE 100   41,839 0.20%

 KMI 30     70,015 0.10%

KASB Tech Index   511 0.77%


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


Pakistan receives only $88m assistance against $816m flash appeal

In response to the UN-Pakistan joint flash appeal of $816 million, Pakistan has received only $88 million support in cash and kind despite securing commitments of $111 million.



RMB account, rescheduling of loans likely

The government is reportedly finalising drafts of over a dozen pacts including rescheduling of Chinese loans, opening of accounting in RMB and cyber security, to be signed during the maiden visit of Prime Minister Shahbaz Sharif to China next month, well informed sources told Business Recorder.



Rupee settles at 219.71 against US dollar

As per the State Bank of Pakistan (SBP), the rupee closed at 219.71 after depreciating Re0.82 or 0.37%. The rupee has cumulatively depreciated Rs1.92 or 0.87% in the last five trading sessions.



Petroleum group imports grow 5.94pc in 1Q

Petroleum group imports witnessed a growth of 5.94 percent during the first quarter (July-September) of the current fiscal year 2022-23 and remained $4.865 billion compared to $4.592 billion during the same period of last fiscal year, says Pakistan Bureau of Statistics (PBS).



Expansion of advanced power metering project okayed

The Federal Cabinet meeting has in-principle gave approval to extend the project of installation of advanced meters from the federal capital to other parts of the country, besides installation of advanced meters on transformers to reduce line losses in the power sector.



Honda unveils date for HR-V’s launch

Honda Atlas Cars Pakistan (HACPL) has finally unveiled the release date of their upcoming HR-V across their social media accounts. The company has touted October 21, 2022 as the launch date for the vehicle.



Sazgar Starts Booking Electric Rickshaws With 100 KM Range

Pakistan’s one of the most renowned 3-wheeler manufacturers, Sazgar, has opened bookings for its fully electric rickshaw, eVe, which has a 100 km range on a single charge.



Auto makers took Rs271bn in advance from consumers, PAC told

The Public Accounts Committee (PAC) was informed on Tuesday that car manufacturers have received more than Rs217.6 billion payment in advance from customers.



Textile exports rise 3.7pc in Q1; drop 3pc in September

Pakistan’s textiles exports increased 3.7 percent to $4.58 billion in the first quarter ended September 30, 2022, whereas the month’s exports declined 3 percent to $4.42 billion, official data showed on Tuesday



Pakistan sides with Saudi Arabia over its tension with US

In a significant move, Pakistan on Tuesday put its weight behind Saudi Arabia, which has locked horns with the United States over the cut in oil supply in international market.




Commodities and Currency: 1-Day Change


USD 1655 ▼0.06%


USD 19 0.31%

 Crude Oil

USD 83 1.10%


Rs 220 0.07%

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