MG Morning Breeze: Updates to Skim before Market

November 12, 2024 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Central govt debt falls 1.1% to Rs69.6tr in Sep

The total debt of the central government has decreased by 1.1% or Rs792.1 billion to Rs69.57 trillion in September 2024 compared to last month. Read more

• National Savings Schemes see Rs13.8bn inflow in Sep

The net receipts of Savings Mobilized by National Savings Schemes (NSS) stood at Rs13.78 billion in September as compared to receipts of Rs5.83bn. Read more

• Pakistan’s outstanding external debt, liabilities reach $133.5bn in Q1

Pakistan’s external debt and liabilities (outstanding) reached $133.46bn at of September 2024. Read more

• Automobile sales surge 112% in Oct

The sales of cars, including LCVs, vans, and jeeps, in Pakistan increased by 112.1% in October 2024, clocking in at 13,108 units compared to 6,180 units. Read more

• Motorcycle, three-wheeler sales rise 35% in Oct

Motorcycles and three-wheeler sales in Pakistan rose 35.02% in October 2024 to 137,693 units compared to 101,976 units sold in the same month of last year. Read more

• PSX Closing Bell: No Ceiling

The benchmark KSE-100 Index concluded Monday’s trading session at 93,648.32, showing an increase of 356.64 points or 0.38%. Read more

• PKR loses 12 paisa against USD

The Pakistani rupee (PKR) decreased by 12.36 paisa or 0.04% against the US dollar in Monday’s interbank session to settle the trade at PKR 277.86 per USD. Read more

• Pakistan, Denmark discuss trade, commerce expansion

To enhance cooperation and collaboration in the field of trade and commerce between Pakistan and Denmark, Aurangzeb held a meeting. Read more

• SECP extends IFRS-9 ECL implementation deadline for circular debt until 2025

The Securities and Exchange Commission of Pakistan (SECP) has temporarily deferred the applicability of Expected Credit Losses (ECL) Model of IFRS-9. Read more

• Gold slips further in Pakistan

Gold extended its downward slide on Monday, with 24-karat gold being sold at Rs277,500 per tola, down Rs1,300. Read more

• KCCI condemns reinstatement of affidavit requirement

President Karachi Chamber of Commerce and Industry (KCCI), while vehemently condemning reinstatement of the requirement to file an affidavit with sales tax. Read more

• Attock Refinery denies sale claims

Attock Refinery Limited (PSX: ARL) issued a clarification today, denying false media reports claiming the sale of the company. Read more

• FBR sees strong withholding tax growth across key categories

The Federal Board of Revenue (FBR) has collected Rs2.74 trillion in Withholding Taxes (WHT) during the fiscal year 2023-24, with tax on contracts being. Read more

• FBR collects Rs237bn FED from cigarettes in FY24

The Federal Board of Revenue (FBR) has collected Rs237 billion as federal excise duty (FED) from cigarettes during the fiscal year 2023-24. Read more

• PSX halts trading for three brokers over missing audits

The Pakistan Stock Exchange (PSX) has immediately restricted the trading facilities of three brokers until further notice. Read more

• SOEs block private players in Pakistan’s power sector: CCP

The Competition Commission of Pakistan (CCP), in its research report titled “State of Competition in Key Markets in Pakistan: Power Sector,” highlighted. Read more

• Iron ore drops toward $100

Iron ore fell toward $100 a ton as China’s planned debt swap program looked insufficient to some investors. Read more

• Trump’s win pressures gold prices in Pakistan

Investors in Pakistan’s bullion market suffered severe losses last week as international gold recorded its biggest weekly drop in nearly 5 months. Read more

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