KASB Morning Shout February 10th, 2021
KASB Market View
Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years,
The Federal Cabinet has given final approval to the recommendations of the Cabinet Committee on Energy (CCoE) for payment of Rs403 billion to Independent Power Producers (IPPs).
Russia’s Sputnik V has become the third Covid-19 vaccine to be approved by Pakistan for emergency use after China’s Sinopharm and the one developed by AstraZeneca and Oxford University
KASB Market View
The Pakistan Stock Exchange experienced a turbulent session on Tuesday as the benchmark KSE-100 index succumbed to selling pressure and closed slightly lower despite a handful of positive triggers. Though buying activity was witnessed for most part of the trading session, market participants failed to sustain the uptrend and as a result, the KSE-100 index recorded a dip in final hours.
Pakistan to Seek Debt Relief from China Belt and Road Loan
Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years, the latest developing nation that’s struggling to repay debt under President Xi Jinping’s Belt and Road Initiative.
Govt-IPPs deal: Rs800bn saving projected
ISLAMABAD: The Federal Cabinet has given final approval to the recommendations of the Cabinet Committee on Energy (CCoE) for payment of Rs403 billion to Independent Power Producers (IPPs), with the government maintaining that the agreement would yield over Rs800 billion saving in the next 20 years and reduce the cost of electricity.
Govt approves Russia’s Sputnik V vaccine for emergency use
ISLAMABAD: Russia’s Sputnik V has become the third Covid-19 vaccine to be approved by Pakistan for emergency use after China’s Sinopharm and the one developed by AstraZeneca and Oxford University, the health minister said on Tuesday.
New system ready to facilitate overseas Pakistanis on succession issues
ISLAMABAD: Law Minister Barrister Dr Farogh Naseem has called for effective implementation of Letters of Administration and Succession Certificates Act, 2020 by the Pakistani missions abroad in order to facilitate the diaspora community
Public Debt to GDP Ratio Jumps To 87.2%, far above the limit set under FRDL Act 2005
(MLN): The government failed to achieve its target of decline in public debt to GDP ratio to 84%, rather it rose to 87.2% of GDP in fiscal year 2019-20 compared to 86.1% in FY19.
Covid kills 25 more as another 324 test positive
Twenty-five more people have died due to Covid-19 and 324 others have tested positive for the disease during the past 24 hours in Sindh, with the death toll due to the viral coronavirus infection reaching 4,157 in the province.
Regulatory authority: Framework for upstream petroleum sector to be placed before CCI
ISLAMABAD: The Petroleum Division prepared a framework of regulatory authority for the upstream petroleum sector which would be placed before the Council of Common Interest (CCI) for approval.
Wheat import exempted from PPRA rules
ISLAMABAD: The federal cabinet on Tuesday decided to set up 30 additional accountability courts in the country. It also accorded approval for exemption of PPRA regulations for import of 300,000 ton wheat and 500,000 ton sugar.
What lies in store for PSM, CJP asks ministers
ISLAMABAD: The Supreme Court on Tuesday sought complete details of the privatization plan of the Pakistan Steel Mills (PSM).
NHA approves three mega road projects including M-6
ISLAMABAD: The National Highways Authority (NHA) Executive Board has reviewed its earlier decision and approved three mega road projects including Hyderabad-Sukkur Motorway (M-6), a critical component of the China-Pakistan Economic Corridor (CPEC)
NEPRA to conduct hearing as KE seeks Rs3.23 tariff hike
K-Electric has submitted an application requesting the National Electric Power Regulatory Authority (NEPRA) to increase the power tariff by Rs3.23 under the monthly fuel adjustment mechanism.
Govt asks SSGC to divert gas to FFBQL
ISLAMABAD: The Federal Government has directed Sui Southern Gas Company Limited (SSGCL) to divert gas to Fauji Fertilizer Bin Qasim Limited (FFBQL) curtailed from export-oriented industry or any other source and also sign a Gas Supply Agreement (GSA) with it.
Oil hits 13-month highs on supply cuts, weak dollar
LONDON: Oil hit 13-month highs on Tuesday with the Brent benchmark staying above $60 a barrel, supported by supply cuts, a weak dollar and optimism over a recovery in fuel demand.