The foreign exchange reserves held by the central bank decreased by $82 million on weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On January 04, the foreign currency reserves held by the SBP were recorded at $12,949 million compared with $13,031 million in the previous week.
Sale of cars in the country increased by 44 per cent in January compared to same month of the preceding year, a data released by Pakistan Automobile Manufacturing Association (PAMA) said on Thursday.
Pakistan is to allow private companies to import coronavirus vaccines and has agreed to exempt such imports from price caps, documents obtained by Reuters revealed on Wednesday.
KASB Market View
The market made another historic high volume of 1.1 billion shares, however the benchmark fell steeply in late trading, closing down by nearly 600 points. Cement sector remained in the limelight due to consistent increase in cement prices per bag and in anticipation of stellar half yearly results. We expect Automobile sector to gain investor’s interest in the today’s session as local OEMs have posted phenomenal growth in sales for the month of Jan’21.
National News
Forex reserves fall to $12.949bn
The foreign exchange reserves held by the central bank decreased by $82 million on weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On January 04, the foreign currency reserves held by the SBP were recorded at $12,949 million compared with $13,031 million in the previous week.
https://www.brecorder.com/news/40063043/forex-reserves-fall-to-12949bn
Automobile sale rises 44pc in January
Sale of cars in the country increased by 44 per cent in January compared to same month of the preceding year, a data released by Pakistan Automobile Manufacturing Association (PAMA) said on Thursday.
https://www.brecorder.com/news/40063070/automobile-sale-rises-44pc-in-january
Pakistan to allow private firms to import COVID-19 vaccine, exempt from price caps
Pakistan is to allow private companies to import coronavirus vaccines and has agreed to exempt such imports from price caps, documents obtained by Reuters revealed on Wednesday.
PTCL conducts successful 5G Trials
Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has successfully tested 5G trial in a limited environment.
https://www.brecorder.com/news/40062858/ptcl-conducts-successful-5g-trials
Nepra raises Discos’ tariffs by 83 paisa per unit
The National Electric Power Regulatory (Nepra) has increased tariffs of Distribution Companies (Discos) by Rs 0.83 per unit for 4th quarter of FY 2019-20 under quarterly tariff adjustment mechanism, second increase in two days. Another increase of Rs 1.95 per unit is also expected on Friday (today), totaling to a whopping impact of Rs 4.33 per unit.
https://epaper.brecorder.com/2021/02/12/12-page/869536-news.html
FBR against proposed restoration of zero-rating regime
The Federal Board of Revenue (FBR) has taken a major policy decision of not reverting back to sales tax zero-rating regime for five export-oriented sectors including textile, leather, surgical, carpets, and sports goods, in the upcoming 2021-22.
https://www.brecorder.com/news/40063241/fbr-against-proposed-restoration-of-zero-rating-regime
Declare cotton emergency: LCCI
The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to declare a cotton emergency in the agriculture sector, as a historic fall in cotton production has started affecting the economic chain, a statement said on Thursday.
https://www.thenews.com.pk/print/788602-declare-cotton-emergency-lcci
