BizPearl Consulting

08/10/2022

07/04/2022

SBP raises interest rate by 2.50 percent

In an emergency meeting MPC decided to raise policy rate

Interest rate up by 250bps to 12.25%.

This strong and proactive policy response was necessitated by a deterioration in outlook for inflation and increase in risks to external stability since last meeting.

31/03/2022

*MORNING NEWS*
*Thursday, March 31, 2022*

*No-trust motion; ‘Tareen group’ to make final decision today* | Tareen group — a disgruntled faction within the ruling Pakistan Tehreek-e-Insaf (PTI) – has summoned a consultative session on Thursday (today) to make a final decision whether to support the opposition’s no-trust motion or side with the ruling PTI. https://bit.ly/3NvCc4d

*No trust vote: MQM-P formally breaks rank with govt in interest of Pakistan* | The Muttahida Qaumi Movement-Pakistan (MQM-P), a key ally of the Pakistan Tehreek-i-Insaf-led coalition government, formally announced on Wednesday that it was joining the opposition ranks ahead of a no-trust vote against Prime Minister Imran Khan. https://bit.ly/3iNT0F8

*WB speaks about focal points of upcoming talks with Pakistan* | The World Bank (WB) has said that managing uncertainty and preparing for future crises will be the centre of bilateral meetings with Pakistani authorities and also during IMF/ World Bank spring meeting to be held from April 18-23, 2022. https://bit.ly/3wNwVyU

*China rolls over $2bn SAFE deposits: Finance* | Finance Ministry said on Wednesday that China has rolled over US$2 billion SAFE deposits and US$ 2.3 billion syndicate facility is being process for roll over. https://bit.ly/3iQZ2Fc

*ECC approves indigenous gas supply to two SNGPL-based urea plants* | The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the proposal for the provision of indigenous gas to two Sui Northern Gas Pipeline Limited (SNGPL)-based urea plants namely Fatima Fertilizer (Sheikhupura Plant) and Agritech latest by March 31, 2022. https://bit.ly/3j7AgRv

*ECC approves Rs16bn TSG to clear SNGPL dues* | The Economic Coordination Committee (ECC) of the Cabinet has approved technical supplementary grant of Rs16 billion for payment of the SNGPL dues for the month of February. https://bit.ly/38gQSnx

*Ministry to seek justification of hike in prices of cars, SUVs* | The Ministry of Industries and Productions has convened a meeting with auto vendors Thursday (Mar 31) to seek justification of sudden increase in the prices of cars and SUVs; however, to check underinvoicing import of luxury vehicles was mandate of the Federal Board of Revenue (FBR) and the Ministry of Commerce. https://bit.ly/373nzEs

27/10/2021

*Oct 27, 2021*

*Pakistan Important News*

Govt ready to accept all TLP demands except shutting down French embassy: Rashid
https://epaper.brecorder.com/2021/10/27/2-page/905369-news.html
Neutral

Appointment of Lt-Gen Anjum as DG ISI notified
https://epaper.brecorder.com/2021/10/27/1-page/905363-news.html
Neutral

Saudi Arabia provides $4.2b lifeline to Pakistan
https://tribune.com.pk/story/2326522/saudi-arabia-provides-42b-lifeline-to-pakistan
Positive

Stockbrokers decry glitch-ridden DTS platform
https://www.dawn.com/news/1654293/stockbrokers-decry-glitch-ridden-dts-platform
Neutral

NEPRA Okays Increase in Cost of Electricity for K-Electric November Bills
https://propakistani.pk/2021/10/26/nepra-okays-increase-in-cost-of-electricity-for-k-electric-november-bills/
Negative

Urea offtake jumps by 24% in Sept’21
https://mettisglobal.news/urea-offtake-jumps-by-24-in-sept21/
Positive

Pharmaceutical goods’ export increases 7pc in Q1FY22
https://profit.pakistantoday.com.pk/2021/10/26/pharmaceutical-goods-export-increases-7pc-in-q1fy22/
Positive

*Market*
- Board Meeting: PCAL, OTSU, ASHT, FFC, GGGL, NBP, QUICE, BERG, BIPL, ABL, MCB, SAPL, PPP, EFUG, SURC, NAGC, HRPL, BOK, SZTM, ELCM, FFLM, PAEL, ARM, MTL, GGL, MFL, SHDT, GTYR, BAHL, FABL, AGIC, JSBL, UBDL, SCL, ELSM, CHCC, BAPL, REWM, ICL, SERF, SAZEW, PRWM, FTMM, DMIL, RUPL, UNITY, JLICL, SPLC, PSX, ALTN, CLVL, PSEL, FECM, TOMCL, TREET, ATIL, IGIHL, PAKOXY, THALL, EFGH, ADMM, TPLP, SCBPL, LUCK, COLG, SIBL, SYS, CENI
- Corporate Briefing: FEROZ, SAZEW, FUDLM, OTSU, FZCM, SSOM, PSEL, BHAT, OLPL, STJT, BTL, BYCO, FASM, FHAM, KML, HMM, BERG
- Future Open interest: Oct: Rs12.73bn, Nov: Rs4.73bn, Dec: Rs1.76mn
- MTS Amount: Rs7.59bn (Rate: 10.04%)
- MFS Amount: Rs5.55bn
- KSE 100 last close: 45,228 (-0.42%)

*Fixed Income & Money Market*
- T-Bills Yield 6M: 8.80%
- PIB Yield 3 Year: 10.34%, 5 Year: 10.60%, 10 Year: 11.13%
- 6M KIBOR: 8.85%

*Prices of Major Commodities*
- PVC Ethylene: $1,180/ton
- PTA-PX Margins (TNC Website): $139/ton
- Coal: $220.00/ton (0.00)
- Arab Light: $84.78/bbl (-0.13)
- WTI: $84.19/bbl (+0.26)
- Brent: $86.04/bbl (-0.23)
- DAP US$660/ton
- Urea: China/Middle East/US Gulf ($625/760/700 per ton)
- Steel: CRC/HRC/Spread ($998/879/119 per ton)

*Currencies*
- PKR/USD: 175.35 (+0.85)
- JPY/USD: 114.04 (+0.09)

*Global Markets*
- S&P 500 (+0.18%)
- Dow 30 (+0.04%)
- Nikkei 225 (-0.55%)
- Hang Sang (-1.84%)

19/10/2021

As per Section 165 read with Rule 44(2) and Part X of the Second Schedule of the IT Rules, Quarterly Statement of Withholding Taxes for the quarter ended 30.9.21 for “Salary & other than Salary” is required to be filed by 20.10.21.

As per the prescribed Form, complete details of taxes deducted and deposited as withholding agent during the quarter ended 30.9.21 are required. These details include the following:

(a) Supplier Name;

(b) NTN;

(c) Address;

(d) Section under with tax withheld;

(e) Gross amount;

(f) Amount of tax withheld; and

(g) CPR number through which tax has been deposited

18/10/2021

*Oct 18, 2021*

*Pakistan Important News*

IMF talks to ‘resume’ today: M*F
https://epaper.brecorder.com/2021/10/18/1-page/904436-news.html
Neutral

Tarin hopes IMF will provide one billion dollars to Pakistan
https://nation.com.pk/17-Oct-2021/tarin-hopes-imf-will-provide-one-billion-dollars-to-pakistan
Neutral

Govt increases petrol price by Rs10.49 per litre
https://www.brecorder.com/news/40127190/govt-increases-petrol-price-by-rs1049-per-litre
Neutral

Oil import bill widens 97pc in first quarter
https://www.dawn.com/news/1652472/oil-import-bill-widens-97pc-in-first-quarter
Negative

No immediate impact of SBP measures on auto financing, imports
https://www.dawn.com/news/1652490/no-immediate-impact-of-sbp-measures-on-auto-financing-imports
Neutral

Lucky Cement to increase cement prices by PKR 30 per bag on higher Coal prices
https://augaf.com/lucky-cement-to-increase-cement-prices-by-pkr-30-per-bag-on-higher-coal-prices/
Positive

Steel policy to be announced soon: minister
https://www.dawn.com/news/1652346/steel-policy-to-be-announced-soon-minister
Positive

*Market*
- Board Meeting: RMPL, DCR, PTC
- Corporate Briefing: HBL, EPCL
- Future Open interest: Oct: Rs16.88bn, Nov: Rs281.81mn, Dec: Rs1.30mn
- MTS Amount: Rs7.58bn (Rate: 9.02%)
- MFS Amount: Rs5.38bn
- KSE 100 last close: 44,822 (+1.10%)

*Fixed Income & Money Market*
- T-Bills Yield 6M: 8.25%
- PIB Yield 3 Year: 9.92%, 5 Year: 10.30%, 10 Year: 10.75%
- 6M KIBOR: 8.35%

*Prices of Major Commodities*
- PVC Ethylene: $1,115/ton
- PTA-PX Margins (TNC Website): $131/ton
- Coal: $229.10/ton (-2.55)
- Arab Light: $84.63/bbl (+0.50)
- WTI: $83.53/bbl (+1.74)
- Brent: $85.81/bbl (+1.26)
- DAP US$660/ton
- Urea: China/Middle East/US Gulf ($625/710/710 per ton)
- Steel: CRC/HRC/Spread ($1,008/905/103 per ton)

*Currencies*
- PKR/USD: 171.25 (0.00)
- JPY/USD: 114.16 (+0.24)

*Global Markets*
- S&P 500 (+0.75%)
- Dow 30 (+1.09%)
- Nikkei 225 (+1.81%)
- Hang Sang (+1.48%)

07/10/2021

*Govt decides to extend NAB chief’s tenure* |The Pakistan Tehreek-e-Insaf (PTI) government has decided to extend the tenure of the incumbent National Accountability Bureau (NAB) chairman former Justice Javed Iqbal till a new successor is appointed. https://bit.ly/3uILhxx

*Federal govt’s debt stocks touch new high of Rs39.77trn* | The federal government’s total debt (domestic and external) stocks rose over Rs 1 trillion during the first two months of this fiscal year (FY22). SBP reported that the country’s domestic and external debt continued to increase and went up by 3 percent during July-Aug of FY22. The central government’s domestic and external debt stocks mounted up by Rs 1.073 trillion to touch a new peak level of Rs 39.77 trillion in August 2021 up from Rs 38.697 trillion in June 2021. https://bit.ly/3Bu7LFb

*Govt to raise Rs5.875trln in 3 months* | The government is set to raise Rs5.875 trillion from the sale of treasury bills and bonds up to the end of December 2021, which is higher compared with the maturities of Rs5.100 trillion. The State Bank of Pakistan (SBP) on Tuesday said that it would continue to hold fortnightly auctions for three, six and 12 months Market Treasury Bills between October and December.
https://bit.ly/3AguP8T

*PSMCL suspends bookings for Alto AGS, Cultus VXL and Cultus AGS* | Pak Suzuki Motors Company Limited (PSMCL) has reportedly suspended the booking of Alto AGS, Cultus VXL, and Cultus AGS temporarily. According to the market sources, the decision was made in light of the shortage of semi-conductors at the international level, forcing the company to restrain the production of Alto AGS, Cultus VXL, and Cultus AGS temporarily. https://bit.ly/3oFRV6z

*Cabinet confirms concessional winter power tariff* | Minister for Energy (Power Division) Hammad Azhar announced this decision of the cabinet through a tweet saying: “The cabinet has approved the seasonal electricity package. Any additional electricity consumed by domestic and commercial consumers during Nov-Feb period compared to same time previous year will have a discount of Rs 5-7 per each unit.” https://bit.ly/3Fw27Vt

*Poultry prices unlikely to ease in months to come* | Citing high cost of production and chick raising gaps, poultry industry has warned of skyrocketing chicken meat prices in the months to come, The News learnt on Tuesday. Khalil Sattar, Chairman, Pakistan Poultry Association (PPA) in a letter suggested the authorities to put a cap on the rising cost of production instead of simply controlling the prices. https://bit.ly/3DiLXMT

*Prices of POL products likely to increase* | The prices of petroleum products for the second half of October are expected to further increase as the Brent oil price reached $81 per barrel on Tuesday, market sources said. https://bit.ly/3oGQ01P

*1,136 big retailers required to be integrated with POS system by 10th* | The Federal Board of Revenue (FBR) has issued a list of 1,136 big retailers (Tier-1), which are required to be integrated with the FBR’s Point of Sale (POS) system and would be denied 60 percent input tax credit in case of non-integration by October 10, 2021. https://bit.ly/3mJKQj1

*CDC cuts tariff to facilitate capital market* | In line with its vision to facilitate capital market participants and as per the guidelines of Securities and Exchange Commission of Pakistan (SECP) to reduce cost of doing business, Central Depository Company of Pakistan (CDC) has again taken a step forward by further reduction in the base tariff for its major depository services. https://bit.ly/3Dj1rAu

19/09/2021

30th Sep 2021 is the last date for filling your Income Tax Returns
Please file it yourself or contact us
Thanks