MG Morning Breeze: Updates to Skim before Market

March 20, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan posts $128m current account surplus in February

Pakistan has recorded a current account surplus of $128 million largely due to a decline in imports. Read more

• PKR’s REER index increases to 102.17 in February

Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.41% MoM in February 2024 to a provisional value of 102.17 from the revised value of 101.75 in January 2024. Read more

• Pakistan’s service sector trade deficit shrinks by 52.27% MoM in February

The service sector of Pakistan posed a trade deficit of $158 million in February, reflecting a decline of 52.27% MoM, as compared to a deficit of $331m recorded in the previous month. Read more

• Currency in circulation rises by Rs253bn in a week

The currency in circulation within the economy till March 08, 2024, has increased by Rs252.98bn WoW to Rs8.66 trillion, according to provisional accounts on Monetary Aggregates for the week. Read more

• Govt borrows Rs162bn debt in a week

The government of Pakistan has acquired an additional debt of Rs161.9 billion during the week ended March 08, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs3.22 trillion. Read more

• RDA attracts $141m in February

Total inflows into Roshan Digital Accounts (RDA) during February 2024 stood at $141 million, bringing the total cumulative inflows into RDA to $7.48 billion. Read more

• Power generation drops 14.2% MoM in February’24

The total power generation in the country dropped by 14.2% MoM to 7,130 GWh during February 2024 as compared to 8,314 GWh in January 2024, monthly power production data released by the National Electric Power Authority (NEPRA) showed. Read more

• Gold rate climbs to Rs227,300 per tola

The domestic bullion rebounded slightly on Tuesday, with the price of 24-karat gold gaining Rs400 to Rs227,300 per tola. Read more

• PKR settles flat at 278.64 against USD

The Pakistani rupee (PKR) remained relatively stable against the US dollar in Tuesday's interbank session to settle at PKR 278.64 per USD, compared to the previous session's closing of PKR 278.63 per USD. Read more

• PSX Closing Bell: Status Quo

The benchmark KSE-100 index closed Tuesday's trading session at 65,502.60 showing an increase of 612.09 points or 0.94%. Read more

• SBP expects $2bn rollover next week, $4bn by June 2024

The $2 billion roll-over is in process and likely to be finalized in the coming week while another roll-over of $4bn is expected by June 2024. Read more

• LSVL shareholders approve merger with Digital Custodian

The shareholders of LSE Venture Limited (PSX: LSVL) voted in favour of merging with Digital Custodian Company Limited. Read more

• Wilmar unit to make further investments in Pakistan-listed Unity Foods

Wilmar Pakistan Holdings Pte. Ltd, Unity Wilmar Agro (Private) Limited and certain shareholders of Unity Foods have expressed their intention to acquire up to 277 million shares of Unity Foods. Read more

• CDNS raises Rs60bn through Islamic finance bonds in ongoing fiscal year

The Central Directorate of National Savings (CDNS) has secured Rs60 billion in Islamic finance bonds during the current fiscal year 2023–24 till March 16. Read more

• Govt earmarks Rs2bn for Pakistan Startup Fund

The government has earmarked Rs2 billion for the Pakistan Startup Fund, aiming to bolster venture capital investment within the country. Read more

• Chashma Sugar Mills to launch Premier Grain Ethanol Limited as new subsidiary

The Board of Directors of Chashma Sugar Mills Limited (PSX: CHAS) has approved the incorporation of a new subsidiary company in the name of "Premier Grain Ethanol Limited". Read more

• ARPAK board approves investment in Premier Grain Ethanol Limited

The Board of Directors of Aqpak International Investments Limited (PSX: ARPAK) has approved the subscription of 5,000,000 Ordinary Shares of Rs10 each in “Premier Grain Ethanol Limited". Read more

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