EconomyKSE 100 closed at 41,624 points (-4.52 per cent WoW), highest weekly loss of 2018 amidst depleting foreign reserves and rising political noise ahead of general election 2018.
EconomyThe National Assembly on Friday passed the Finance Bill 2018-19, giving the go-ahead to the budgetary proposals for the upcoming fiscal year.
HeadlinesAPBF President Ibrahim Qureshi said that only recovery in exports would ease pressure on the external sector, as trade deficit amounted to $26.44 billion in the July-April period.
EconomyThe current account deficit in the first 10 months of 2017-18 amounted to $14 billion, up 50 per cent from a year ago.
HeadlinesCurrently, direct taxes account for 37 per cent and indirect taxes account for 67 per cent of the total tax revenue collection.
Economy
HeadlinesBoard of Directors of Pakistan Stock Exchange Limited (PSX) held its first meeting on May 15, where Husain Lawai was unanimously elected as the chairman of the Board.
Headlinesedotco PK has successfully obtained approval from the State Bank of Pakistan (SBP), allowing local lenders to fund the acquisition by edotco PK of Jazz’s portfolio of 13,000 tower assets currently under Deodar Private Limited (Deodar).
HeadlinesThe index fell to intraday low of 42,198.84 with a loss of 260.69 points falling from Wednesday’s high of 42,579.81 points before settling with a loss of 158.33.
HeadlinesNational Assembly Standing Committee on Energy has directed Gas Distribution Companies to complete Gas Development Schemes under Prime Minister’s Sustainable Development Goals (SDGs) programme within the stipulated timelines.
HeadlinesThe newly elected office bearers include President Asif Ikram, Vice President Amir Jamil Abbasi, Honorary Secretary Talib S. Karim, and Honorary Treasurer Riyaz T Chinoy.
HeadlinesThe indices carried on weak sentiments from the last session and lost over 1 per cent in the first hour of trading, however, were quick to recover.