News Highlight Monday, April 8, 2024

Pakistan shares FTA draft with GCC to pave way for Reko Diq accord – Positive
https://www.thenews.com.pk/print/1175831-pakistan-shares-fta-draft-with-gcc-to-pave-way-for-reko-diq-accord

Eurobond repayment on track for April, IMF deal key to easing mid-year fiscal stress – Positive
https://www.thenews.com.pk/print/1176370-eurobond-repayment-on-track-for-april-imf-deal-key-to-easing-mid-year-fiscal-stress

Talks on new program; IMF stands ready: Julie – Neutral
https://epaper.brecorder.com/2024/04/06/1-page/989919-news.html

Pakistan, Russia, CARs: meeting on UAP rail plan likely on April 23-24 – Neutral
https://epaper.brecorder.com/2024/04/05/1-page/989832-news.html

Japan to give additional grants for 2 projects – Neutral
https://epaper.brecorder.com/2024/04/05/7-page/989865-news.html

UN report forecasts Pakistan’s GDP growth to be 2pc this fiscal – Neutral
https://www.thenews.com.pk/print/1176181-un-report-forecasts-pakistan-s-gdp-growth-to-be-2pc-this-fiscal

UBG for initiating CPEC’s second phase through launch of five SEZs – Neutral
https://epaper.brecorder.com/2024/04/06/3-page/989936-news.html

Rs48b sought for CPEC energy debt – Neutral
https://tribune.com.pk/story/2461920/rs48b-sought-for-cpec-energy-debt

Country should chalk out pension reform plan: WB – Neutral
https://tribune.com.pk/story/2461709/country-should-chalk-out-pension-reform-plan-wb

Finance Bill 2024: major changes likely in IR Statutes – Neutral
https://epaper.brecorder.com/2024/04/06/1-page/989916-news.html

SBP-held foreign exchange reserves increase $19mn, now stand at $8.04bn – Neutral
https://www.brecorder.com/news/40297253/sbp-held-foreign-exchange-reserves-increase-19mn-now-stand-at-804bn

ECC sanctions Rs24b for supplementary budget – Neutral
https://tribune.com.pk/story/2461687/ecc-sanctions-rs24b-for-supplementary-budget

Pakistan’s central govt debt decreases marginally in February: SBP – Neutral
https://www.brecorder.com/news/40297220/pakistans-central-govt-debt-decreases-marginally-in-february-sbp

Soaring debt pile worries industrialists – Negative
https://tribune.com.pk/story/2461918/soaring-debt-pile-worries-industrialists

Wafi Energy updates Shell PAI – Neutral
https://www.thenews.com.pk/print/1175677-wafi-energy-updates-shell-pai

OMCs raise price of HOBC by Rs10 per litre from April 1 – Neutral
https://epaper.brecorder.com/2024/04/06/12-page/989979-news.html

Notice issued to POL, others; Respondents shall continue to pay tax liability under Sec 4C: IHC – Neutral
https://epaper.brecorder.com/2024/04/05/14-page/989902-news.html

IP gas pipeline project; Work begins ahead of Iran president’s visit – Neutral
https://epaper.brecorder.com/2024/04/08/1-page/990059-news.html

ICC upholds Pakistan’s jurisdiction in oil dispute – Neutral
https://tribune.com.pk/story/2461916/icc-upholds-pakistans-jurisdiction-in-oil-dispute

Three refineries set to ink upgrade deals under new policy – Positive
https://www.thenews.com.pk/print/1175670-three-refineries-set-to-ink-upgrade-deals-under-new-policy

Refineries demand full recovery of forex losses – Neutral
https://tribune.com.pk/story/2461689/refineries-demand-full-recovery-of-forex-losses

K-Electric forecasts cost reduction with 640MW renewable energy boost – Positive
https://www.thenews.com.pk/print/1176006-k-electric-forecasts-cost-reduction-with-640mw-renewable-energy-boost

Conversion to Thar coal
https://epaper.brecorder.com/2024/04/08/1-page/990051-news.html

Excessive loadshedding; Nepra slaps Rs50m penalty on KE, 4 other Discos – Neutral
https://epaper.brecorder.com/2024/04/05/14-page/989909-news.html

Pakistan’s Liberty confident its $125m bet on troubled power sector will reap reward – Neutral
https://epaper.brecorder.com/2024/04/07/8-page/990045-news.html

NPGCL inks $200m FDI MoU with Chinese firm NGLE – Neutral
https://epaper.brecorder.com/2024/04/05/1-page/989825-news.html

Energy sector circular debt surges to Rs5.5tr – Negative
https://www.dawn.com/news/1825571/energy-sector-circular-debt-surges-to-rs55tr

‘Forced’ export of cars; Japan threatens to move WTO – Negative
https://epaper.brecorder.com/2024/04/08/1-page/990054-news.html

Foreign subsidiary in UAE; PAEL approves incorporation – Neutral
https://epaper.brecorder.com/2024/04/05/5-page/989853-news.html

‘Coordinated price fixation’; CCP issues show-cause notices to urea producers – Neutral
https://epaper.brecorder.com/2024/04/07/8-page/990044-news.html

Eying Rs3bn income, PTA set to amend data CVAS licenced area – Neutral
https://epaper.brecorder.com/2024/04/07/1-page/989993-news.html

PIACL divestment; Prequalification criteria, committee approved – Neutral
https://epaper.brecorder.com/2024/04/05/1-page/989833-news.html

SAB fails to take decision on sugar export – Neutral
https://epaper.brecorder.com/2024/04/05/14-page/989905-news.html

Government borrows record Rs4.7tr from banks – Neutral
https://www.dawn.com/news/1825973/government-borrows-record-rs47tr-from-banks

Economy suffers amid drop in private sector participation – Neutral
https://www.dawn.com/news/1826117/economy-suffers-amid-drop-in-private-sector-participation

Pakistan’s exports to China increase by 42pc in 8 months – Positive
https://www.nation.com.pk/07-Apr-2024/pakistan-s-exports-to-china-increase-by-42pc-in-8-months

Exports to US decline 10pc to $3.63bn – Negative
https://www.dawn.com/news/1826115/exports-to-us-decline-10pc-to-363bn

Seven wheat vessels berthed at Karachi Port – Neutral
https://www.dawn.com/news/1826112/seven-wheat-vessels-berthed-at-karachi-port

Depreciation fears prompt exporters to sell dollars – Neutral
https://www.dawn.com/news/1825828/depreciation-fears-prompt-exporters-to-sell-dollars

Business confidence down: Gallup – Neutral
https://tribune.com.pk/story/2461815/business-confidence-down-gallup

FBR finalises draft Tax Law (First Amendment) Ord
https://epaper.brecorder.com/2024/04/08/12-page/990110-news.html

With investment in mind, PM lands in KSA on first foreign visit since election
https://tribune.com.pk/story/2461874/with-investment-in-mind-pm-lands-in-ksa-on-first-foreign-visit-since-election

MQM-P censures Sindh govt over lack of action against street crime in Karachi
https://www.dawn.com/news/1826280/mqm-p-censures-sindh-govt-over-lack-of-action-against-street-crime-in-karachi

Oil tumbles nearly 2% as Middle East tensions ease
https://www.reuters.com/markets/commodities/oil-prices-lost-ground-mideast-geopolitical-tension-eases-2024-04-07/

Asian Stocks Set For Gains, Eyes on Daily Yuan Fix: Markets Wrap
https://www.bnnbloomberg.ca/asian-stocks-set-for-gains-eyes-on-daily-yuan-fix-markets-wrap-1.2056116