【Daily】2 Dec. Brief of Pak BizNews

By Staff Reporter | Gwadar Pro Dec 2, 2022

-Daily Market-

 KSE 100   42,394 0.11%

 KMI 30     71,775 0.01%

KASB Tech Index   565 ▼0.23%


KASB Market View


  • Macroeconomic economic concerns and the heighted political noise will likely keep the market’s performance ranged-bound. The upcoming CPI inflation reading may influence expectations of monetary policy tightening.
  • 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


Jul-Nov trade deficit shrinks 30.14pc to $14.406bn YoY

Pakistan’s trade deficit narrowed down by 30.14 percent to $14.406 billion during the first five months (July-November) of the current fiscal year as compared to $20.621 billion during the same period of last year, says the Pakistan Bureau of Statistics (PBS).



Nov CPI inflation jumps 23.8pc YoY

The Consumer Price Index (CPI) based inflation increased to 23.8 percent on a year-on-year basis in November 2022 as compared to an increase of 26.6 percent in the previous month and 11.5 percent in November 2021, says the Pakistan Bureau of Statistics (PBS).



Remittances may drop by 7.4pc to $29bn: WB

Remittances are expected to drop by 7.4 percent to $29 billion in 2022 from $31 billion in 2021, as loss of confidence contributed to migrants’ preference for the parallel exchange market and informal channels of money transfer, which further decreased official remittance flows to the country, says the World Bank.



Forex reserves fall $267m

The country’s total liquid foreign exchange reserves fell $ 267 million during the last week because of foreign debt payments.



PL increased to generate Rs36.199bn

The federal government has increased petroleum levy on High Speed Diesel (HSD) by 98 percent, 17 percent on Kerosene Oil (SKO) and on Light Diesel Oil (LDO) by 94 percent projected to generate Rs 36.199 billion for the first fortnight of December (1-15).



LPG price up by Rs11.7/kg for Dec

The Oil and Gas Regulatory Authority (OGRA) has increased the price of Liquefied Petroleum Gas (LPG) by Rs11.7 per kg for December 2022 as compared to last month.



No curbs on oil, LNG and POL products’ LCs: SBP

The State Bank of Pakistan (SBP) has strongly rebutted placing any restriction on Letters of Credit (LCs) for import of oil, LNG and petroleum products.



PRL barred from shutting down this month

The Oil and Gas Regulatory Authority (Ogra) has barred Pakistan Refinery Limited (PRL) from shutting down in December 2022 to meet diesel requirements in the winter months



UN launches record $51.5bn funding appeal

The UN appealed for record funds for aid next year, as the Ukraine war and other conflicts, climate emergencies and the still-simmering pandemic push more people into crisis, and some towards famine.



PM for implementation of agreement reached at COP27

Prime Minister Shehbaz Sharif has emphasised the need of practical implementation of the loss and damages agreement reached at COP27 Conference and manifestation of the commitment.



Flood relief activities

Pakistan has so far received $ 738.530 million of foreign financial assistance i.e. around 22 percent against the total commitment of $ 3.4 billion from multilateral and bilateral partners to support the flood relief activities in the country.



Removal of duty on electrical vehicles triggers affordability debate

The expiry of regulatory duty SRO on the import of electric vehicles (EVs) has triggered a debate about the affordability of EV imports, especially in the middle of fast depleting foreign exchange reserves and who it would benefit.



SRB posts 22pc growth in 5MFY23

Sindh Revenue Board (SRB) on Thursday posted a growth of 22 percent in first five months of the financial year 2022-23, as compared to the same period last year.



Commodities and Currency: 1-Day Change


USD 1812 ▼0.19%


USD 23 0.04%

 Crude Oil

USD 81 0.10%


Rs 225 0.11%

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