MG Morning Breeze: Updates to Skim before Market

September 06, 2023 (MLN): The aim of Morning Breeze is to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan needs to get rid of IMF to achieve economic independence: Army Chief

In order to establish a resilient and self-reliant economy, Pakistan needs to avert the necessity for seeking IMF programs in the future which has posed substantial challenges to the nation's economic stability. Read more

• PKR trades 1.46 rupees lower against USD in interbank, strengthens in open market

The Pakistani rupee (PKR) depreciated by 1.46 rupees against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 307.0996 per USD. Read more

• Gold takes a major hit as PKR surges in open market

Domestic Bullion faced a major setback today due to the remarkable 11 rupees appreciation of the Pakistani Rupee (PKR) against the US Dollar in the open market. Read more

• SIFC unveils diverse investment opportunities

Special Investment Facilitation Council (SIFC) on Tuesday informed the business community of various areas of potential investment including agriculture, livestock, information technology, mining and energy sectors. Read more

• Central govt debt soars by 22.11% YoY to Rs61.75tr in July

The total debt of the central government has surged by 22.11% YoY to Rs61.75 trillion in July 2023, compared to Rs50.57tr in July 2022. Read more

• Sugar prices touch Rs200 mark in Karachi

Retail sugar prices in Karachi have reached a record high of Rs200 per kilogram (KG), with the ex-factory price for sugar standing at Rs174/Kg, while in the wholesale market, sugar is available at Rs180/Kg. Read more

• PSX Closing Bell: Drag down the mood

The benchmark KSE-100 Index closed Tuesday's trading session at 45,491.48 showing a decrease of 0.47% or 215.94 points. Read more

• NCCPL to collect up to 50% CGT from clearing members, PMEX on September 12

National Clearing Company of Pakistan Limited (NCCPL) will collect Capital Gain Tax (CGT) from Clearing Members and the Pakistan Mercantile Exchange by up to 50% on September 12. Read more

• Jazz renews contract with SYM’s Iris Digital

Jazz (Pvt.) Limited, Pakistan's leading Telecom Operator has renewed the contract for the provision of Digital Services with Iris Digital (Pvt.) Limited, a subsidiary of Symmetry Group Limited (PSX: SYM). Read more

• Cherat Cement reports Rs4.4bn profit, declares 30% final dividend

Cherat Cement Company Limited (PSX: CHCC) witnessed a meager 1.17% YoY decline in its profitability in FY23, reporting a profit after tax of Rs4.4 billion [EPS: Rs22.67]. Read more

• Money supply drops 0.87% MoM to Rs34.25tr as of July

The total money supply circulating within the economy till July 2023 has been recorded at Rs34.25 trillion. Read more

• DSML, TPL Life sign MOU to explore merger

The management of Dar Es Salam Textile Mills Limited (PSX: DSML) has entered into a Memorandum of Understanding (MOU) with TPL Life Insurance Limited (TPL Life) to explore the possibility of a potential merger. Read more

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