【Daily】25 Nov. Brief of Pak BizNews
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Flood relief operations, reconstruction
The National Assembly Standing Committee on Foreign Affairs was informed that following the UN Flash appeal, Pakistan has received $3.4 billion for flood relief operations and reconstruction.
PM picks Munir as COAS, much to IK’s chagrin
President Arif Alvi Thursday signed the summary and approved the appointment of Lt Gen Sahir Shamshad Mirza as chairman of the Joint Chiefs of Staff Committee and Lieutenant General Asim Munir as the next chief of army staff.
The Economic Coordination Committee (ECC) of the Cabinet has directed the Trading Corporation of Pakistan (TCP) to explore options for fresh tendering/G2G basis of 40,000 MTs of urea to meet the requirements.
THE RUPEE: PKR falls marginally
Pakistan’s rupee fell marginally against the US dollar, depreciating 0.05% in the inter-bank market on Thursday.
Forex reserves fall by $134m
The total liquid foreign exchange reserves held by State Bank of Pakistan (SBP) decreased by $134 million to $7.825 billion during the week ended on November 18, 2022 due to external debt repayment.
Hubco starts legal proceedings against encashment notice
The Hub Power Company Ltd (Hubco) has started legal proceedings against an encashment notice by China Power Hub Generation Company Limited (CPHGC), a statement said on Thursday.
Financing boost under ISREP likely to cut circular debt, grid dependence: Study
Research by economists and academia has urged the State Bank of Pakistan (SBP) to provide more financing to individuals like housing societies, commercial buildings, and localities under the Incentive Scheme for Renewable Energy Programs (ISREP).
Value-added textile sector demands revival of zero-rating regime
Textile exporters asked the government to restore zero-rating regime for five-export oriented sectors on Thursday, saying ongoing economic uncertainty and stuck refund claims had put them on the verge of closure.
Commodities and Currency: 1-Day Change