MG Morning Breeze: Updates to Skim before Market

June 25, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Petrol prices likely to rise by around Rs7 per litre

The government is likely to hike the price of petrol by around Rs7 per litre for the first half of July 2024 in line with the increase in international prices. Read more

• Finance Bill 2024: Senate proposes 128 recommendations to National Assembly

The Senate on Monday proposed a total of 128 recommendations including nine about the public sector development program (PSDP) for year 2024-25 to the National Assembly for inclusion in the Finance Bill 2024. Read more

• PSO’s recoveries from SNGPL improve amid gas price hike

Pakistan State Oil Company Limited’s (PSX: PSO) recoveries from Sui Northern Gas Pipelines Limited (SNGPL) have improved following recent gas price increases. Read more

• PSX investors to pay CGT on July 02: NCCPL

The aggregate amount of CGT arising on the disposal of shares at the Pakistan Stock Exchange (PSX) for the period May 1, 2024 to May 31, 2024. Read more

• PSX tightens rules: No cash withdrawals allowed by brokers from client accounts

To strengthen investor protection measures, the Pakistan Stock Exchange (PSX) has amended its regulations, prohibiting securities brokers. Read more

• Current account hits a sour note on surging primary deficit

Contrary to the expectations of a current account surplus for the fourth consecutive month in May, a significant surge in the primary. Read more

• Millat Tractors refutes media claims of FBR-imposed Rs5.4bn fine

Millat Tractors Limited (PSX: MTL) has refuted recent media reports claiming that the Federal Board of Revenue (FBR) imposed a Rs5.4 billion fine. Read more

• High level industrial delegation leaves for Turkmenistan

A high-level delegation led by Federal Minister for Industries and Production on Monday embarked on a three-day official visit to Turkmenistan. Read more

• PKR depreciates by 11 paisa against USD

The Pakistani rupee (PKR) depreciated by 11.2 paisa against the US dollar in Monday’s interbank session as the currency settled the trade at PKR 278.62. Read more

• PSX Closing Bell: Reality Check

The benchmark KSE-100 index concluded Monday’s trading session at 78,232.10 showing a decrease of 578.40 points or 0.73%. Read more

• Gold price in Pakistan gains Rs500 per tola

Gold price in Pakistan increased on Monday, with 24-karat gold being sold at Rs242,000 per tola, up Rs500 per tola. Read more

• Banking sector spread increases by 4bps MoM in May

The banking sector spread for May 2024 has increased by 4 basis points (bps) MoM to 7.13% as compared to a spread of 7.09% in April 2024. Read more

• Govt to back semiconductors, AI & quantum technology sectors: Ahsan Iqbal

Minister for Planning and Development Ahsan Iqbal has said that government is committed to extend full support to the emerging technologies. Read more

• PBC presents tax proposals to finance ministry

A delegation of Pakistan Business Council (PBC) led by Chairman PBC Shabbir Diwan met Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. Read more

• PMEX trading activity rise 9% DoD

The trading activity at Pakistan Mercantile Exchange (PMEX) increased by 9.26% DoD on Friday to clock in at Rs27.69 billion. Read more

• CCP approves General Atlantic’s full acquisition of Actis Holdings

The Competition Commission of Pakistan (CCP) has approved the 100% acquisition of Actis Holdings S.a.r.l (Actis Holdings), a Luxembourg-based company. Read more

• Popular Islamic Modaraba to expand authorized funds by Rs60m

The Board of Directors (BoD) of Popular Islamic Modaraba has decided to raise the Authorized Funds of Modaraba from Rs140 million to Rs200m. Read more

• Baluchistan govt releases Rs861m in FY24 to expedite Mangi Dam construction

The incumbent Baluchistan government has released Rs861 million in the current financial year 2023-24 to expedite the construction work on Mangi Dam. Read more

• Shaza Fatima praises SIFC, PSEB for IT export growth

Shaza Fatima Khawaja emphasized that the present government is focused on developing the IT sector, praising the roles of SIFC and PSEB. Read more

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