Akik Capital Limited

18/01/2023

Today’s highlights include:
· Jul-Nov LSMI output declines 3.58% YoY
· World Bank delays loans worth $ 1.1Bn
· Stocks crash, hit 30-month low
· New tax raising steps under consideration
· ECC allows import of used tractors
· Breakthrough in energy talks with Russia unlikely
· Inflation will rise to 70% if we default, warns Pasha
· State revenue: FTO directs FBR to implement effective mechanism
· DISCOs’ power tariff raised by PKR 4.46/unit

17/01/2023

Today’s highlights include:
· Senate passes SBP (Amendment) Bill-2021
· Pakistan, Iran sign 39 MoUs to boost trade
· SBP issues framework on outsourcing to CSPs
· Ministry, SBP agree to take measures for clearance of palm oil stuck at warehouses
· Steel bar hits new peak of PKR 243,500
· Centre spends 44% less on development in 1HFY23
· Inputs: exporters promised hassle-free imports
· LCs issue: CMOs likely to get force majeure for new projects
· Imported urea: ECC approves DTP, incidental charges
· Govt. makes three financing models for e-bikes

09/01/2023

Today’s highlights include:
· KE incurred less line losses: Nepra chief says performance of all Discos dismal
· Jul-Dec: FBR makes PKR 176Bn payment against refunds
· Pakistan repays over $ 1Bn external debt
· Saudi prince to set up Tech House in Pakistan
· CAP denounces undue restrictions on retail trade timings
· Expansion of telecom services: USF spends PKR 124Bn on implementation of 130 projects
· Govt. to give PKR 17.5Bn subsidy for buying e-bikes
· Uzbekistan shares study for railway project with Pakistan
· KCR travelers’ wait for train’s whistle may not end soon

07/01/2023

Today’s highlights include:
· Pace of domestic debt accumulation accelerates
· FBR estimates PKR 170Bn shortfall in tax collection
· Pak Suzuki extends plant shutdown
· PKR 302/40kg fixed as minimum sugarcane price by Sindh govt.
· Govt. set to sell LNG plants to Qatar
· Urea prices jacked up by PKR 190/bag
· Polyester, other goods: DGCV Karachi revises import values upward
· NADRA to carry out biometric verification of vehicle owners in Sindh
· CCLC okays first safety standards for vehicles
· Fake transactions: FBR illegally takes action against salaried individual
· Insurance industry: SECP chief for improving service standards
· ILO says flexible timings better for work-life balance

03/01/2023

Today’s highlights include:
· SRB collects record revenue of PKR 17.6Bn in Dec’22
· Inflation refuses to be tamed, rises to 24.5%
· Equities, bonds see $ 187Mn outflow
· Petroleum levy on HSD hiked
· Deployment of broadband technology and ROW: Govt. should devise uniform policy, says CCP
· Redress grievances of provinces, Nepra asks NTDC
· Resolving tax-related issues
· Call to reduce food consumption gaps in flood-hit areas
· PRL ends 20-day shutdown
· Exchange firms to seek dollar supply

31/12/2022

30/12/2022

Today’s highlights include:
· SBP’s foreign exchange reserves decline $ 294Mn to $ 5.822Bn
· SBP raises EFS & LTFF rates by 2% to 13%
· Cross-border trade rules
· Anti-Dumping Act: CPEC Secretariat for retrospective waiver
· Makers raise steel prices by up to PKR 25,000
· Virtual govt.-IMF sessions on ‘regular’ basis: Aisha
· Pakistan to spend $ 3Bn on flood recovery by end-June
· Presidential ordinance likely to bring mini-budget
· For flood-related rehabilitation works: 14 varsities in KP, Sindh, Baluchistan likely to get PKR 1.6Bn
· Minister for adopting export-led growth policies
· KPT beefs up security

29/12/2022

Today’s highlights include:
· Profits on foreign investments nosedive
· FBR reduces duty on import of Agri tractors
· $ 15.722Bn new pacts signed: Country received $ 16.974Bn foreign assistance: EAD
· Development spending drops 38% in July-Nov
· Tax collection from cigarette industry jumps 26%
· Panel formed to cut power use in govt. offices by 30%
· Fund constraints adversely affect NHA projects
· FBR sets up 6 new Model Customs Collectorate
· Digital lending firms
· UN report uses Pakistan floods to warn of more disasters
· Entry of heavy vehicles into Karachi: Sindh govt. vows to implement court decision
· CDNS, JazzCash sign MoU

24/12/2022

Today’s highlights include:
· S&P downgrades Pakistan’s credit rating
· Pakistan received $ 5.1Bn in July-November
· FY21-22: digital payments take a rising trajectory
· SBP slashes GDP growth forecast to below 3-4%
· Tola-led body formed to settle gas sector debt
· DPC unveils 2nd annual report: 98% of bank depositors eligible for deposit protection
· Local gas, RLNG: Ogra underscores need for revising tariffs
· ADB for higher investments in hydropower
· BWL extends plant closure
· IMF wants market-base rupee value
· Imported networking equipment subject to 16% duty: FBR
· Dar-led body formed to do away with Riba

21/12/2022

Today’s highlights include:
· July-Nov services sector deficit falls over 50% to $ 865Mn YoY
· Flood victims in Sindh: World Bank approves financing for 5 projects
· Foreign loans of IPPs: PPIB seeks guidance to replace Libor with SOFR
· Capital market in 2023: Low PE will continue due to external debt, political noise: Topline
· IMF asks for passing on PKR 65Bn burden to power consumers
· IPO oversubscribed
· Oil refinery project: Chinese team visits Gwadar
· Infrastructure damaged by rains: Chinese CG gives checque to Karachi administrator
· Supply of sugar: LHC restrains FBR from setting minimum value
· Pakistan identifies $ 8.2Bn flood funding gap
· WWF Pakistan, APTMA to conduct sustainability awareness sessions

20/12/2022

Today’s highlights include:
· External sources: Jul-Nov govt. borrowing rises to $ 5.114Bn from $ 4.699Bn YoY
· 1320MW coal-fired power added to national grid: Murad
· Failure to deposit CVT on foreign assets: Taxpayers/resident individuals liable to pay 12% per default surcharge
· ‘Reforms undertaken for Treasury Single Account’
· Mobile phones worth $ 290.57Mn imported in five months
· OGDCL discovers oil, gas at Sanghar
· IMC says suspending production till 30th
· Net Metering Regulations: Nepra facing frustrating situation
· ‘FASTER’ system: Jul-Nov payment of ST refunds rises 44.5% to PKR 143.8Bn YoY
· Revenue collection: PM toughens FY23 target regardless of import contraction
· Fuel cost for power generation drops by 34%
· Gold hits new all-time high

19/12/2022

Today’s highlights include:
· SBP injects PKR 2Tn into banks
· Int’l carriage of goods by roads: FBR standardizes conditions for senders, carriers
· FBR allows cross-stuffing of transit cargoes
· November FCA: KE seeks negative, CPPA-G positive adjustment
· 11% customs duty imposed on import of night vision goggles
· Micro-loan disbursements fall, delinquencies rise
· Discos’ tariff slashed by PKR 0.32 for Oct’22
· Import of LNG: PLL likely to ink accord with SOCAR
· Entire PSW system trade data is confidential: FBR
· ADB’s IED validates ‘flood project’
· Housing Ministry seeks PKR 9,179Mn for FY23
· Gold hits an all-time high