Daily news: 15th July 2020

Good Morning The central government’s debt, excluding its liabilities, increased at a double-digit pace to Rs34.5 trillion by the end of May 2020 on an annualised basis, with an average of Rs14.2 billion per day, reported the State Bank of Pakistan (SBP) on Monday. MOL group has made new hydrocarbon discovery in TAL Block. Owing… Continue reading Daily news: 15th July 2020

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Daily news: 14th July 2020

Good Morning Pakistan has received all-time high over $23 billion home remittances inflows during the last fiscal year (FY20). The sales of passenger cars have declined by 52 percent YoY in Jun-2020 to 8,446 units. The Pakistan International Airlines (PIA) is expected to incur losses of Rs100 billion due to suspension of international flights amid… Continue reading Daily news: 14th July 2020

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Daily news: 13th July 2020

Good Morning The previous week saw the market carry on with its rising trajectory, gaining grounds for the 11th consecutive session and going past the 36k mark. We believe the recent momentum is largely a product of asset reallocation towards equities by key institutions amidst falling treasury yields. The economy is also depicting signs of… Continue reading Daily news: 13th July 2020

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Daily news: 10th July 2020

Good Morning Pakistan’s total liquid foreign exchange reserves crossed $18 billion mark at the end of the last week, the State Bank of Pakistan (SBP) reported on Thursday. The country’s total liquid foreign exchange reserves posted an increase of $820 million during the last week ended on July 3, 2020 supported by bulk foreign inflows. The… Continue reading Daily news: 10th July 2020

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Daily news: 9th July 2020

Good Morning The State Bank of Pakistan (SBP) reduces markup rate to 5 percent on refinance schemes for investment and introduces other enhancements aimed to facilitate the business in Covid-19 pandemic. The federal government has put an end to the power of pharmaceutical companies to increase prices of drugs while not paying any heed to… Continue reading Daily news: 9th July 2020

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Daily news: 8th July 2020

Good Morning Pakistan’s trade deficit shrank to $23.18 billion in fiscal year 2019-20 against $31.8 billion in 2018-19, registering 27 percent decline in trade balance. According to the official data released by the Pakistan Bureau of Statistics (PBS), exports fetched $21.387 billion in the last fiscal year ending on June 30, 2020 against the desired… Continue reading Daily news: 8th July 2020

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Daily news: 7th July 2020

Good Morning After posting decrease for three consecutive months, cement dispatches increased by 29.94 percent in June 2020 to 4.623 million tons from 3.557 million tons in June 2019, ending the fiscal year 2019-20 on a positive note. The Sukkur-Hyderabad Motorway project at the cost of Rs182.5 billion, along with N-25 Karachi-Quetta Road worth approximately… Continue reading Daily news: 7th July 2020

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Daily news: 6th-July-2020

Good Morning The previous week saw the market witness a sustained uptrend for all trading sessions largely instigated by a surprise 100bps cut in interest rates to 7.0%. This bullish spree brought the KSE100 index back towards the 35k market by the week’s end. We believe lower interest rates have compelled investors to re-allocate their… Continue reading Daily news: 6th-July-2020

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Daily news: 3rd July 2020

Good Morning On June 26, the foreign currency reserves held by the SBP were recorded at $11,231 million, up $1,270 million compared with $9,961.2 million in the previous week. IFC, a member of the World Bank Group, is making an equity investment of up to Rs 500 million (about $3.2 million) in Pakistan Mortgage Refinance… Continue reading Daily news: 3rd July 2020

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Daily news: 2nd-July-2020

Good Morning The Consumer Price Index (CPI)-based inflation nationwide has registered an increase of 8.6 percent on year-on-year (YoY) basis in June 2020 as compared to an increase of 8.2 percent in May, and eight percent in June 2019. The revenue collection saw a paltry growth of 3.9 per cent year-on-year in 2019-20 mainly due… Continue reading Daily news: 2nd-July-2020

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