MG Morning Breeze: Updates to Skim before Market

October 14, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• OGRA proposes Rs1.35 per liter rise in OMC margin, Rs1.4 for dealers

The Oil & Gas Regulatory Authority (OGRA), after thorough analysis and deliberation on the data, has submitted a proposal to the federal government. Read more

• Electricity tariffs set to drop by 8-10%

The government will soon decrease the electricity tariffs by 8-10% per unit to provide relief to the power consumers. Read more

• Foreigners dump $99m stocks in six weeks

Pakistan stocks continued to face selling pressure from foreign investors who dumped stocks for the sixth week in a row, the longest streak since mid 2022. Read more

• PSX extends rally

Pakistan stocks extended their blistering rally this week, largely led by gains in banking and E&P stocks. Read more

• Weekly Corporate Buzz

The pulse of Chundrigar Road beat stronger this week, with expansions. Read more

• IMF cuts member borrowing costs by $1.2bn

The International Monetary Fund on Friday approved measures that will reduce its members’ borrowing costs by about $1.2 billion annually, the fund’s. Read more

• NCCPL issues reminder for securities brokers’ LC statements

The National Clearing Company of Pakistan Limited (NCCPL) has issued a reminder about the deadline for Securities Brokers and Professional Clearing Members. Read more

• Weekly Outlook: Gold, Euro, GBP, JPY trends to watch

Following the release of better-than-expected consumer data last week, the market’s expectations for the. Read more

• Volatile week for oil wraps up with gains

Global oil prices faced immense volatility this week, yet managed to settle with a modest gain driven by rising Israel-Iran fears and signs that demand. Read more

• IMF’s new demand set to dissuade Chinese investments into Pakistan

The International Monetary Fund asked Pakistan to stop setting up any industrial zone that offers incentives for investment. Read more

• OGRA slashes RLNG prices by up to 7.11%

Following the Federal Government’s policy guidelines, the Oil and Gas Regulatory Authority (OGRA) on Friday reduced Re-gasified. Read more

• ECC allows additional export of 0.5m MT of surplus sugar

After thorough discussions on the proposal and considering recommendations from relevant stakeholders and ministries, the Economic Coordination Committee. Read more

• FBR files FIR against Power Cement for Rs316m tax fraud

The Federal Board of Revenue’s (FBR) Directorate of Internal Audit, Inland Revenue, Karachi, has registered a First Information Report (FIR) against Power. Read more

• Dewan Farooque dispatches first Honri EVs to Eco-Green Motors

Dewan Farooque Motors Limited (PSX: DFML) has successfully assembled Electric Vehicles under the brand Honri EV through toll manufacturing, and the first. Read more

• Masood Textile secures Rs2bn from Sukuk issue to refinance debt

Masood Textile Mills Limited (PSX: MSOT) has successfully completed the Sukuk issue of Rs2 billion carrying a rental rate of 3M KIBOR + 1.75% per annum over. Read more

• PKR jumps by 15 paisa against USD

The Pakistani rupee (PKR) appreciated by 15.29 paisa or 0.06% against the US dollar in Friday’s interbank session to settle the trade at PKR 277.64 per USD. Read more

• Pakistan debt obligations stand at $30.4bn for next 12 months

Pakistan’s predetermined short-term net drains on foreign currency assets by the end of July stood at $30.35 billion for the next 12 months. Read more

• Pakistan’s digital payments surge 35% in FY24

Pakistan’s payment landscape for digital payments has experienced extraordinary growth in FY24, with the volume of transactions rising from 4.7 billion to 6.4. Read more

• Weekly inflation falls 0.08%

Pakistan’s short-term inflation decreased by 0.08% compared to last week as of October 10, 2024, while it rose 12.74% over the prior year. Read more

• GTYR to temporarily halt production on Monday

Ghandhara Tyre & Rubber Company Limited (PSX: GTYR) will temporarily suspend the operations at its production plant. Read more

• IMF urges SBP to fix vulnerabilities of microfinance banks

The International Monetary Fund (IMF) stated in its report that the State Bank of Pakistan (SBP) should address the persistent vulnerabilities and weak. Read more

• Pakistan’s govt bank debt more than triple emerging market average

With limited access to external funding, Pakistan’s government debt through banks has surged to around 60% of their assets, triggering a red alert. Read more

• Pakistan prioritizes fiscal reforms, revenue strategies: IMF

Pakistani authorities agreed on fiscal adjustment and structural reforms, emphasizing revenue-enhancing strategies to support human. Read more

• Early termination of IPP contracts saves Pakistan Rs411bn: Awais Leghari

Pakistan has saved a substantial amount of Rs411 billion by opting for the early termination of several key contracts with five independent power producers. Read more

• IMF sees Pakistan’s GDP soaring to 4.5% by FY28

The International Monetary Fund (IMF) projected Pakistan’s real GDP growth to gradually recover, reaching 4.5% by FY27. Read more

• IMF projects Pakistan’s CAD at 1%, reserves to reach $22.5bn by FY28

Amidst a gradual recovery in domestic demand alongside increased imports and exports, the International Monetary Fund (IMF) has projected a modest Current. Read more

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