MG Morning Breeze: Updates to Skim before Market

March 13, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• MPS Preview: SBP to stand firm on 22% despite inflation moderation

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is widely expected to maintain the policy rate at 22% for the sixth consecutive meeting on Monday. Read more

• PSX Closing Bell: Break Fast

The benchmark KSE-100 index plummeted 953.60 points or 1.45% to conclude Tuesday's trading session at 64,801.7. Read more

• Car sales rise 1.94% MoM to 7,953 units in February

Passenger car sales edged up 1.94% MoM in February 2024, clocking in at 7,953 units compared to 7,802 units recorded in January 2024. Read more

• Textile sector’s profit plunges 58% QoQ amid soaring energy costs

Pakistan’s textile industry suffered in the second quarter of the fiscal year 2024 as the sector grappled with the repercussions of soaring energy costs. Read more

• Pakistan’s apparel sector attracts $5bn investment in few years

During the last few years, Pakistan's apparel sector has attracted approximately $5 billion of fresh local investment for expansion, including imports of around $2.2bn worth of new machinery from 2019 to 2023. Read more

• Haleon Pakistan’s Jamshoro facility receives FSSC certification

In a notable development for Haleon Pakistan Limited (OSX: HALEON), the company's cutting-edge manufacturing facility in Jamshoro has obtained Food Safety Standard Certification (FSSC). Read more

• IMF mission to hold economic review talks from March 14

The International Monetary Fund (IMF) mission is set to hold economic review discussions from March 14 to 18, 2024 for the final review of the Stand by Arrangement (SBA). Read more

• Gold price in Pakistan edges down to Rs230,100 per tola

The domestic bullion market witnessed a relatively flat session on Tuesday as the price of 24-karat gold edged down by Rs100 to Rs230,100 per tola. Read more

• OTSU resumes IV production ahead of schedule

Otsuka Pakistan Limited (PSX: OTSU) has resumed the production facilities of IV Solutions manufacturing from March 12, 2024, after successful upgradation and renovation. Read more

• BNWM to temporarily shut down production amid order shortfall

Bannu Woollen Mills Limited (PSX: BNWM) has decided to temporarily shut down production activities from March 13, 2024, to March 26, 2024, due to a reduction in anticipated orders from mills dealers for the financial year 2024-2025. Read more

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