MORNING SHOUT - 5TH AUG 2021
US wants Pakistan to keep Afghan border open for DPs (Neutral)
The United States wants Pakistan to keep its borders with
Afghanistan open for Afghan refugees, a demand that could
strain already tense relations between the two countries. Besides
Pakistan, the US State Department has also asked Turkey to allow
Afghans to stay in the country for up to 14 months before they are
resettled in the United States.
Govt moves to ensure transparency in LNG buying (Neutral)
Taking some corrective measures in procurement of Liquefied
Natural Gas (LNG), the government on Wednesday ordered its
two entities — Pakistan State Oil and Pakistan LNG Ltd — to make
public disclosure of bidding results in a timely manner to ensure
Govt seeks $400m WB loan for energy sector (Neutral)
Reporting about 20 per cent increase in peak summer electricity
demand, the government on Wednesday sought approval for an
approximately $400 million energy sector loan by the World Bank
(WB) by end-September.
WHT on online markets from Sept 1 (Neutral)
The Federal Board of Revenue (FBR) on Wednesday notified that
imposition of withholding tax on online markets will come into
effect on September 1. The decision was announced through a
notification SRO984 of 2021.
Rs162bn raised through PIBs auction (Neutral)
The government on Wednesday raised Rs161.7 billion through the
Pakistan Investment Bonds (PIBs) against total bids of Rs444.95bn. It
raised Rs40bn for 15 years at the highest return of 10.4 per cent.
The entire bids for 15 years were accepted.
Sales tax on steel products notified (Neutral)
The Federal Board of Revenue (FBR) on Wednesday notified the
fixed value of steel products for assessment of sales tax through
SRO 985. The sales tax will be applicable on the ad valorem basis
at the rate as applicable. The value of steel bars and other long
profile is fixed at Rs140,000 per tonne, steel billets at Rs125,000 per
tonne, steel ingots/bala, ship plats at Rs120, 000 per tonne and
other re-rollable iron and steel scrap at Rs118,000 per tonne.
China to set up $15b oil complex (Positive)
A consortium of Chinese state-owned companies has offered to
set up a $15 billion oil refinery complex that may provide some
relief to Pakistan, which is grappling with the challenge of huge
outflows of foreign investment in recent years.
Nationwide corona positivity ratio jumps to 8.46pc (Negative)
The nationwide coronavirus positivity ratio has continued spiking as
Pakistan on Wednesday, reported another 4,722 fresh cases after
57,398 tests were conducted countrywide with a positivity ratio of
8.46 percent. With the surge in Covid-19 cases, the active cases in
the country have jumped up to 78,595.
Asian stocks hold gains, dollar strong on Fed official comments
Asian shares held on to recent gains in morning trading on
Thursday, despite hawkish remarks from a senior official at the U.S.
Federal Reserve, that boosted the dollar while weighing on risk
appetite, and uncertainty about Chinese policy.
Oil prices rise on Mideast tensions; crude stock build caps gains
Oil prices edged higher on Thursday, supported by tensions in the
Middle East, but failed to regain most of the previous day’s losses
after a surprise build in crude stockpiles in the United States, the
world’s top oil consumer.
Fed’s Daly sees bond program taper later this year or early 2022
San Francisco Federal Reserve President Mary Daly on Wednesday
said that mostly likely the U.S. central bank will be in position to
begin to reduce its massive asset-buying program later this year or
early next year.
U.S. services sector growth accelerates despite supply constraints
A measure of U.S. services industry activity jumped to a record
high in July, boosted by the shift in spending to services from
goods, but businesses continued to pay higher prices for inputs
because of supply constraints.