Textile Exports increased to a record high of US$11bn in 7MFY22 up 25%. As per the data reported by the Pakistan Bureau of Statistics (PBS), Pakistan textile exports have witnessed a record 7MFY22 exports of US$11bn in FY22, up by 25% YoY. In PKR terms, the same has clocked in at Rs1,861bn, up 30% YoY…
News Report The government is set to change the gas pricing formula for fertilizer plants in the new proposed Fertilizer Policy. It started deliberations on salient features of the new policy on Thursday. The government has formed a group that would discuss gas pricing in the new fertilizer policy to remove disparity in pricing. Federal…
News Report The economic Coordination Committee (ECC) has approved the RNGL sale price for PLL’s supply to K-Electric (KE). PLL will supply LNG to K-Electric (KE) at a price of LNG notified by Ogra. The ECC also approved the Ministry of Energy, Petroleum Division’s summary on the determination of RLNG sale price for PLL’s supply…
Aftab Ahmed Islamabad: Pakistan’s banking regulator—SBP—has cumulatively fined Rs 58 million for violating regulatory instructions pertaining to general banking operations, said an official order of the SBP on Tuesday. The top regulator on banking through its enforcement actions has penalized the top five banks in Pakistan that included Bank Alhabib Limited, The Bank of Punjab,…
News Report KSE 100 index largely remained in the positive session during the trading session on Friday to settle at 45,910 level up by 0.10%. The Karachi stock exchange also observed some profit-taking in the second half of the trading session as the index settled at a 45,910 level (up by 0.10%). A major contribution…
Ibn-e-Ameer The government has formed a high-level committee to work out a feasible plan for a new rail link from the PIBT terminal to the Pakistan Railways network. The proposal is under consideration that Port Qasim Authority (PQA) will provide sufficient land adjacent to the PIBT Terminal for the development of railways yard for direct…
News Report Urea’s price in Pakistan has declined to Rs 1850 per bag close to the prescribed level of Rs 1,768 per bag as PBS data reported. Federal Minister for Industries and Production Makhdum Khusro Bakhtyar and Federal Minister for Food Security and Research Syed Fakhar Imam presided the fertilizer review committee meeting on Wednesday….
News Report Auto sales in Pakistan have jumped 46% month on a month (MoM) basis in December 2021. Sales of auto in Pakistan including cars, LCVs, jeeps & pickups jumped 46%MoM, hitting a record-high of 27,331 units. The increase was due to pending orders, supply issues, and new orders ahead of expected prices increases in…
News Report PIBTL’s cargo handling declined by 39.5/35.8% YoY/QoQ in 2QFY22 to 1.79mn tons as compared to 2.95mn tons in 2QFY21. PIBTL handled 1.79mn tons of imported coal in 2QFY22 (down 39.5/35.8% YoY/QoQ). We attribute the decline in the company’s cargo handling to lower imports by the private sector given record-high international coal…
The government has shared a urea fertilizer management plan in Pakistan that focuses on smooth supply to the farmers for crops in 2022. The plan reveals about urea fertilizer sale, import and its consumption in Pakistan. Actions and Management of Urea Creation of Monitoring Portal helped in Urea tracing and price control From 15 November…