MG Morning Breeze: Updates to Skim before Market

August 15, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Petrol price slashed by Rs8.47 per litre

The government has reduced the price of petrol by Rs8.47 to Rs260.96 per litre. Read more

• PKR falls by over 6 paisa against USD

The Pakistani rupee (PKR) depreciated by 6.06 paisa or 0.02% against the US dollar in Tuesday's interbank session to settle the trade at PKR 278.7 per USD. Read more

• PSX Closing Bell: Bearish Ripple

The benchmark KSE-100 Index concluded Tuesday's trading session at 77,877.41, showing a decrease of 102.88 points or 0.13%. Read more

• Govt signs $2.2bn in loan commitments for 9MFY24

Pakistan's government has signed new agreements worth $2.166 billion in commitments from both multilateral and bilateral development partners. Read more

• Pakistan pays $8.1bn for external public debt servicing in 9MFY24

Pakistan's government has paid an amount of $8.086 billion from July–March 2023-24 on account of debt servicing of external public loans. Read more

• Banks to issue more loans for agriculture, SMEs this year: SBP Governor

To harness the potential of the agriculture and SME sectors, banks have developed plans to issue more loans compared to last year, SBP Governor Jameel Ahmad stated. Read more

• International Industries authorized to back CECL’s Reko Diq mining contract

The shareholders of International Industries Limited (PSX: INIL) have authorized the company to issue a guarantee to ensure that Chinoy Engineering & Construction (Private) Limited (CECL) fulfills its obligations under the contract with Reko Diq Mining Company Ltd. Read more

• SAZEW to launch ORA-07 EV in coming days

Sazgar Engineering Works Limited (PSX: SAZEW) is planning to launch a new imported Completely Built-in Unit (CBU) "ORA-07 EV" Electric Vehicle within a couple of days. Read more

• SYS wins Asia’s ‘Best Under A Billion’ award for 5th straight year

In a remarkable feat that adds to its growing list of achievements, Systems Limited (PSX: SYS) has secured the coveted Forbes Asia's 'Best Under A Billion' award for the fifth year in a row. Read more

• OGDC strikes gas in Rahim Yar Khan

Oil and Gas Development Company Limited (PSX: OGDC) has discovered gas from its exploratory well, Chak 202-1, located in District Rahim Yar Khan, Punjab Province. Read more

• Wah Nobel Chemicals to boost UFMC plant capacity by 6,000 metric tons

The Board of Directors of Wah Nobel Chemicals Limited (PSX: WAHN) has approved an increase in the capacity of its Urea Formaldehyde Moulding Compound (UFMC) plant from 13,000 metric tons per annum to 19,000 metric tons per annum. Read more

• PIA Holding appoints Dr. Ayesha Khan as new board director

The PIA Holding Company Limited (PSX: PIAHCLA) has appointed Dr. Ayesha Khan as a director on the company's board with effect from August 12, 2024. Read more

• PSX issues deadline for securities brokers’ LC statements

The Pakistan Stock Exchange (PSX) has issued the deadline for Securities Brokers and Professional Clearing Members to submit their Audited/ Reviewed (whichever is applicable) LC statement. Read more

• CPEC Milestone: Suki Kinari hydropower begins electricity production

A major development has emerged through the China–Pakistan Economic Corridor (CPEC) for Pakistan as the first unit of the Suki Kinari Hydropower Station has started generating electricity. Read more

• UBL Fund managers halt fresh unit issuances, conversions for UGIF, AIAIF

UBL Fund Managers Limited has decided to suspend the fresh issuance of units and Conversion-in in UBL Growth and Income Fund (UGIF) and Al Ameen Islamic Aggressive Income Fund (AIAIF) with effect from Tuesday, August 13, 2024. Read more

• SAB proposes export of 40,000 metric tons of sugar to Tajikistan

The Sugar Advisory Board (SAB), during a meeting with the Minister for Industries and Production, Rana Tanveer Hussain, on Tuesday, recommended the export of 40,000 metric tons of sugar to Tajikistan. Read more

• FBR task force sets up four groups for digitalization drafts

The Task Force on Digitalization of the Federal Board of Revenue (FBR) held its first meeting yesterday in which it was decided to establish four working groups to draft recommendations. Read more

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