【Daily】21 Nov. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Nov 21, 2022

-Daily Market-

 KSE 100   42,730 ▼0.21%

 KMI 30     72,362 ▼0.18%

KASB Tech Index   538 ▼0.62%


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


No default: Ishaq Dar says current account deficit going

Federal Finance Minister Ishaq Dar on Saturday ruled out default, stating Pakistan had never defaulted and would repay all its outstanding obligations for the ongoing financial year well on time.



Power generation cost declines as renewables, solar share goes up

Cost of power generation in the country went down by three percent in the month of October this financial year, compared to the same month of last fiscal.



Sugarcane support price okayed at Rs300 per maund

The provincial cabinet paid tribute to Dr Sania Nishter for accomplishing years of work in only two months along with attaining success in the flood relief programme. Addressing the cabinet meeting, the chief minister lauded the efforts and paid tribute to Dr Sania Nishter, SMBR Zahid Zaman Akhter, PDMA DG Faisal Fareed and the whole team. He stated that the disbursement programme of Rs12 billion for more than 5,000 flood affectees is an example of its own.



IMC raises Toyota vehicle prices

Despite the low cost of import on account of the rupee’s recovery against the dollar in the last one and a half months, Indus Motor Company (IMC) has increased prices by Rs190,000-700,000.



Investors withdraw $660m from Naya Pakistan Certificates in six months

The foreign investors withdrew $660 million from Naya Pakistan Certificates (NPC) during the last six months, compounding the hardship for the country already facing a serious problem of falling foreign exchange reserves.



Cheap oil, gas: Pakistan communicates with Russia

Pakistan Saturday communicated with Russia to procure cheap oil and gas. Sources privy to the matter said that in this regard, the foreign ministry and the petroleum ministry started to communicate – via letters – with Russia.



ECC allows TCP to import urea from China, Azerbaijan

The Economic Coordination Committee (ECC) of the Cabinet has allowed the import of 125,000 metric tons of urea from China on a government-to-government (G2G) basis on deferred payment of 90 days besides an import of 35,000 metric tons on G2G basis from Azerbaijan to meet domestic demand.



Turkey eyes $5b trade in three years

Turkey and Pakistan enjoy heart-to-heart relations and Ankara is keen to boost bilateral trade to at least up to $5 billion in the next two to three years. The current volume of trade is not reflective of the actual potential of both countries.



Commodities and Currency: 1-Day Change


USD 1747 ▼0.41%


USD 21 ▼0.93%

Crude Oil:

USD 79 ▼0.94%


Rs 224 0.34%

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