The State Bank of Pakistan (SBP) will unveil the Monetary Policy Statement on Friday (Mar 19). The SBP’s Monetary Policy Committee (MPC) is scheduled to meet on March 19 to decide about the monetary policy. Later on, the SBP will issue the MPS to announce the decision of the committee for key policy rate.
The overall output of Large Scale Manufacturing Industries (LSMI) increased by 7.85 percent during July-January 2020-21 compared to July-January 2019-20, as most of the major manufacturing sectors posted growth, shows the data released by the Pakistan Bureau of Statistics (PBS) Tuesday.
The federal cabinet has approved the draft protocol on amendments in Inter-Governmental Agreement (IGA) between Pakistan and Russia on North-South Gas Pipeline (NSGP) Project, it was learnt on Tuesday.
KASB Market View
Stocks end flat in choppy trade as investors pause after 2 days’ rally. The index oscillated between positive and negative territories throughout the trading session. Selling was witnessed in cement and steel sectors where as technology stocks continued their upward momentum.
The Monetary Policy Committee of State Bank will meet on Friday March 19th, 2021 to issue the monetary policy. We expect the market to remain mixed in the coming sessions ahead of the monetary policy.
National News
MPS on Friday; Key policy rate may be kept unchanged
The State Bank of Pakistan (SBP) will unveil the Monetary Policy Statement on Friday (Mar 19). The SBP’s Monetary Policy Committee (MPC) is scheduled to meet on March 19 to decide about the monetary policy. Later on, the SBP will issue the MPS to announce the decision of the committee for key policy rate.
https://epaper.brecorder.com/2021/03/17/3-page/874118-news.html
Jul-Jan LSMI output up 7.85pc YoY
The overall output of Large Scale Manufacturing Industries (LSMI) increased by 7.85 percent during July-January 2020-21 compared to July-January 2019-20, as most of the major manufacturing sectors posted growth, shows the data released by the Pakistan Bureau of Statistics (PBS) Tuesday.
https://epaper.brecorder.com/2021/03/17/1-page/874099-news.html
Imports into Pakistan increase by 14.42% YoY in February
Imports into Pakistan during February 2021 amounted to Rs. 735,609 million (provisional) as against Rs. 771,939 million (provisional) in January 2021 and Rs. 642,896 million during February 2020 showing a decrease of 4.71% over January 2021 but an increase of 14.42% over February 2020.
https://mettisglobal.news/imports-into-pakistan-increase-by-14-42-yoy-in-february
Exports from Pakistan decrease by 4.22% MoM during February
The total exports from Pakistan during February 2021 amounted to Rs. 329,116 million (provisional) as against Rs. 343,612 million (provisional) in January 2021 and Rs. 329,588 million during February 2020 showing a decrease of 4.22% over January 2021 and of 0.14% over February 2020.
https://mettisglobal.news/exports-from-pakistan-decrease-by-4-22-mom-during-february
Cabinet approves draft protocol on amendments in Pak-Russia NSGP accord
The federal cabinet has approved the draft protocol on amendments in Inter-Governmental Agreement (IGA) between Pakistan and Russia on North-South Gas Pipeline (NSGP) Project, it was learnt on Tuesday.
Saudi Business Tycoon Comes to Pakistan to Resolve KE Payment Issues
The owner of the Aljomaih Holding Company of Saudi Arabia that had originally bought the Karachi Electricity Supply Corporation, (now called ‘K-Electric’) in 2005, arrived in Pakistan on Monday, Dawn News reported.
Auto industry under pressure to increase price of products: experts
The local automotive industry is facing difficulties in bearing the cost of production as the prices of various type of raw materials have gone up by 27 to 67 percent in the last 13 months, causing a dramatic increase in the production cost of the vehicles. According to the auto industry experts, increase in the prices of various raw materials had been putting pressure on the auto industry to raise prices.
https://epaper.brecorder.com/2021/03/17/3-page/874119-news.html
Hyundai Nishat Finally Announces Launch Date for Elantra in Pakistan
Hyundai Nishat has finally announced the launch date for the Hyundai Elantra, which is set to take place on March 21, 2021, just 5 days from now. Furthermore, it is being reported via various media and infotainment outlets that the Elantra will be offered as a Completely Knocked Down (CKD) vehicle that is locally assembled in Pakistan.
HBL to Sell Off Its Business in Mauritius
The management of Habib Bank Limited (HBL) has decided to wind up its operations in Mauritius. The bank is at an advanced stage of discussions with a potential buyer for its Mauritius operations, according to HBL’s latest annual report.
https://propakistani.pk/2021/03/16/hbl-to-sell-off-its-business-in-mauritius/
Food imports surge 50.3pc to $5.34bn in eight months
The import bill of edible items widened 50.3pc to $5.34 billion year-on-year in the first eight months (July-Feb) of FY21, triggering higher-than-expected trade deficit, data compiled by the Pakistan Bureau of Statistics (PBS) showed.
https://profit.pakistantoday.com.pk/2021/03/16/food-imports-surge-50-3pc-to-5-34bn-in-eight-months/
Feb textile group exports down 6.75pc MoM
The country’s textile group exports have witnessed a decline of 6.75 percent in February 2021, standing at $1.234 billion compared to $1.323 billion during January 2021, the Pakistan Bureau of Statistics (PBS) said.
https://epaper.brecorder.com/2021/03/17/12-page/874184-news.html
Sindh allows private sector to import Covid-19 vaccine
The Sindh government has decided to engage private hospitals and laboratories in Covid-19 mass vaccination programme and encourage the private health sector to import coronavirus vaccine, allocate human resources and establish vaccination centres, specially in Karachi.
https://tribune.com.pk/story/2289737/sindh-allows-private-sector-to-import-covid-19-vaccine
Price Discovery
-Word of the Day-
Price discovery is the process of setting the spot price, but most commonly the proper price, for a security, commodity, or currency.
