【Daily】31 Oct. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Oct 31, 2022

-Daily Market-

 KSE 100   41,140 ▼1.11%

 KMI 30     69,066 ▼1.53%

KASB Tech Index   478 ▼1.94%


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


Total flood damage, economic losses estimated at $31.2bn

Despite receiving a much lower-than-expected response from the international community in the first phase, a joint consortium of multilateral donors verified the Post Disaster Needs Assessment (PDNA) and reconciled figure of total damages and economic losses to the tune of $31.2 billion caused by severe floods in Pakistan.



$10bn Saudi investment on the cards, says PM

Prime Minister She­h­­baz Sharif on Friday said Saudi Crown Prince Mohammed bin Salman bin Abdu­laziz Al-Saud would soon be visiting Pakistan during which he would anno­unce a $10 billion investment for est­a­blishing an oil refinery in the country.



Govt unlikely to pass on price relief due to PSO’s exchange loss adjustment

The exchange loss adjustment of Pakistan State Oil (PSO) would likely deprive consumers of major relief in prices of petroleum products in the next fortnight.



Pakistan needs at least $16.3bn for post-flood rehab: report

Putting the flood damage and loss estimates at over $30 billion (around Rs6.5 trillion), leading international agencies have warned of a substantial increase in poverty levels, widening fiscal and external account deficits amid political and economic instability.



ECC okays urea, wheat import

The Economic Coordination Committee (ECC) of the Cabinet has granted approval for importing 300,000 tons of urea fertilizer at a cost of $520 per metric tons.



SPI shoots up 4.13pc on power tariff surge

Weekly inflation jumped 4.13 percent week-on-week and 30.68 percent year-on-year spurred by a massive rise of 89.34 percent in electricity rates for the quarter.



CCP studies prices of 10 food items to address inflation

Competition Commission of Pakistan (CCP) has completed a draft study to address market distortions and promote efficiency as well as competition in the value chain of 10 essential food commodities in Pakistan.





Commodities and Currency: 1-Day Change


USD 1647 0.15%


USD 19 0.05%

Crude Oil

USD 87 ▼0.51%


Rs 221 0.08%

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