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MG Morning Breeze: Updates to Skim before Market

MG Morning Breeze: Updates to Skim before Market
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April 03, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

The Pakistan Stock Exchange (PSX) saw relief after two consecutive drops, as the benchmark KSE-100 index concluded Tuesday's trading session at 66,886.26, showing an increase of 89.94 points or 0.13%. Read more

The Pakistani rupee (PKR) appreciated by 10.12 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 277.84 per USD, compared to the previous session's closing of PKR 277.94 per USD. Read more

The rally in the domestic bullion market eased on Tuesday as the price of 24-karat gold dropped Rs500 per tola to Rs237,100. Read more

The trading activity at the Pakistan Mercantile Exchange (PMEX) dropped on Monday as the total traded value of transactions stood at  Rs29.4 billion, marking a 3.53% decrease from the previous session's close of Rs30.48bn. Read more

Pakistan’s poverty headcount rate, measured at the lower-middle-income country poverty line of $3.65/day 2017 purchasing power parity (PPP), is expected to remain around 40% over FY24–26. Read more

The full and effective implementation of the State-Owned Enterprises (Governance and Operations) Act 2023 and the SOE Ownership and Management Policy 2023, along with accelerating privatizations and implementing the SOE Triage exercise, is now critical for Pakistan. Read more

In a notable development, the ICT export remittances have surged by $257 million or 14.94% to $1.977bn during 8MFY24 compared to $1.72bn reported for the same period last year. Read more

In the absence of an ambitious and credible economic reform plan, confidence and investment are likely to remain muted in Pakistan, with real GDP projected to grow at 1.8% in FY24, according to the World Bank’s latest Pakistan development update. Read more

The government along with PIA Holding Company Limited (PIA Holdco) has invited Expressions of Interest (EOI) from prospective investors to acquire between 51% and 100% share capital of Pakistan International Corporation Limited (PIACL) together with management control with a deadline set for May 03, 2024. Read more

The sales of oil marketing companies (OMCs) increased by 3% MoM to clock in at 1.15 million tonnes (MTs) in March 2024 compared to 1.12 MTs in February 2024. Read more

Considering the significant number of investors who have not yet registered in the KYC regime, the National Clearing Company of Pakistan Limited (NCCPL) has further extended the timeline for registration in the KYC Database until June 30, 2024. Read more

The country's total textile export registered an increase of 3.17% YoY to $1.3 billion in March 2024 compared to $1.26bn recorded in the same period of last year, according to the statistics released by the All Pakistan Textile Mills Association (APTMA). Read more

The total money supply circulating within the economy till February 2024 has been recorded at Rs36.12 trillion. Read more

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Posted on: 2024-04-03T05:30:00+05:00