The International Monetary Fund (IMF) Executive Board meeting is yet to be scheduled to consider the staff-level agreement on the second to fifth reviews of the $6 billion under Extended Fund Facility (EFF).

Increased workers’ remittances to Pakistan are credit positive for banks, says Moody’s Investor Services (Moody’s).

The country’s current account sharply declined by 65 percent in January 2021 compared to December 2020.

KASB Market View

The Pakistan Stock Exchange (PSX) endured selling pressure on the first day of rollover week on Monday and the benchmark KSE-100 index failed to sustain the 46,000-point mark as profit-booking kicked in. Investors remained jittery as they chose to trade cautiously ahead of the outcome of a Financial Action Task Force (FATF) meeting.

National News

Staff-level pact; IMF Board meeting yet to be scheduled

ISLAMABAD: The International Monetary Fund (IMF) Executive Board meeting is yet to be scheduled to consider the staff-level agreement on the second to fifth reviews of the $6 billion under Extended Fund Facility (EFF).

https://epaper.brecorder.com/2021/02/23/1-page/870769-news.html

Remittances beat Moody’s expectation

ISLAMABAD: Increased workers’ remittances to Pakistan are credit positive for banks, says Moody’s Investor Services (Moody’s).

https://epaper.brecorder.com/2021/02/23/1-page/870768-news.html

27pc drop in foreign direct investment

KARACHI: Foreign direct investment (FDI) during the first seven months of the current fiscal year fell by 27 per cent compared to the same period of last fiscal year, the State Bank of Pakistan (SBP) reported on Monday.

https://www.dawn.com/news/1608850/27pc-drop-in-foreign-direct-investment

Jan CA plunges 65pc MoM

KARACHI: The country’s current account sharply declined by 65 percent in January 2021 compared to December 2020.

https://epaper.brecorder.com/2021/02/23/1-page/870770-news.html

Tribal districts; Rs50bn spent on uplift projects, PM told

PESHAWAR: Prime Minister Imran Khan Monday was told that around Rs 50 billion had been spent on the education, health and infrastructural development projects in the merged tribal districts under a special package.

https://epaper.brecorder.com/2021/02/23/1-page/870766-news.html

Domestic Steel Bar prices feared to increase further as Govt snubs Sector Woes!

The domestic steel re-bar prices are feared to cross Rs150,000 per tonne on massive surge in global scrap rates, which have gone up from $350 per tonne in October to $455 per tonne, and recent 10pc increase in power tariffs for the energy-intensive steel industry.

https://mettisglobal.news/domestic-steel-bar-prices-feared-to-increase-further-as-govt-snubs-sector-woes

TPL Properties acquires 10,002 sq yards plot for its first ever Technology Park

(MLN): TPL Properties Limited, through its wholly owned Subsidiary, G-18 (Private) Limited, has now acquired Plot No. 25-B, measuring 10,002 Square Yards, situated at Sector 30, Korangi Industrial Area, Karachi upon execution of the Sale Deed dated February 19, 2021.

https://mettisglobal.news/tpl-properties-acquires-10002-sq-yards-plot-for-its-first-ever-technology-park

FBR Asked to Abolish the Condition of CNIC on Sales in Next Budget

Business and trade bodies have strongly recommended the Federal Board of Revenue (FBR) to abolish the computerized national identity card number (CNIC) condition on sales in the coming budget (2021-22).

https://propakistani.pk/2021/02/22/fbr-asked-to-abolish-the-condition-of-cnic-on-sales-in-next-budget/

Enterprise Value (EV)
-Word of the Day-

Enterprise value (EV) is a measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company’s balance sheet. Enterprise value is a popular metric used to value a company for a potential takeover.