MORNING SHOUT - 9TH AUG 2021
Taliban close border crossing with Pakistan (Neutral)
The Taliban closed a key border crossing with Pakistan on Friday,
saying no one would be allowed through until Islamabad dropped
or relaxed its visa requirements for Afghans.
EVM to be presented in National Assembly today (Neutral)
An Electronic Voting Machine (EVM) will be presented in the
National Assembly before its session begins on Monday. Federal
Minister for Science and Technology Shibli Faraz has invited the NA
members to share their observations and offer constructive
remarks about the EVM.
Auto industry flexing muscles for price hike (Neutral)
Recently Pakistan, among other countries, has reported soaring
prices of automobiles rooting from the increased prices of raw
materials. This problem is not only limited to raw materials such as
steel and plastic but has also translated into skyrocketing cost of
IMF, WB step up pressure for hike in power tariff (Neutral)
The two international financial institutions (IFIs), IMF and World
Bank, have stepped up their pressure on the government to jack
up the power tariff at the very outset of the next calendar year
2022. And the World Bank in recent interaction with top notches of
the Energy Ministry has linked its $1 billion credit loan for energy
projects with an increase in power tariff from January 1, 2022.
Upcoming ECC meeting likely to review new oil refinery policy
The Petroleum Division has prepared a final draft of Pakistan Oil
Refinery Policy, 2021 which is expected be tabled in next meeting
of the Economic Coordination Committee (ECC) of the Cabinet
KE allowed to charge additional Rs3.64 per unit in three months
The National Electric Power Regulatory Authority (Nepra) has
allowed K-Electric to charge its consumers an additional
cumulative cost of Rs3.64 per unit in three months (Aug-Oct) to
add almost Rs5 billion to its revenue.
Cellular spectrum auction expected to fetch $831.8mln (Neutral)
Pakistan Telecommunication Authority (PTA) has invited bids for
the sale of cellular spectrum in 1800 and 2100 Mhz bands,
expecting to raise $831.8 million, it said on Friday. According to
Information Memorandum (IM) issued recently the government
has allowed existing and new foreign and local entrants to
participate in the auction.
Mobile distributor Air Link plans Pakistan’s biggest private sector
Air Link Communication Ltd. plans to raise at least Rs5.85 billion
($36 million) through an initial public offering this month, which
would be the largest from a non-state firm in Pakistan, Bloomberg
Asia stocks slip as gold slides, oil takes a spill (Neutral)
Asian shares wobbled on Monday amid sharp losses in gold and
oil prices, while the dollar reached four-month highs on the euro
after an upbeat U.S. jobs report lifted bond yields. Sentiment was
shaken by a sudden dive in gold as a break of $1,750 triggered
stop loss sales to take it as low as $1,684 an ounce. It was last
down 1.4% at $1,738.
Oil slumps on China travel curbs, strong U.S. dollar (Neutral)
Oil prices dropped 2% on Monday, extending last week’s steep
losses on the back of a rising U.S. dollar and concerns that new
pandemic curbs in Asia, especially China, may set back the
global recovery in fuel demand.
$1 trillion U.S. infrastructure bill inches ahead with Senate votes
The U.S. Senate on Sunday took two more steps toward passing a
$1 trillion bipartisan infrastructure bill by blessing the details of the
largest U.S. investment in roads and bridges in decades and by
moving to limit debate on the overall measure.
China’s July factory price growth quickens, adds to business cost
China’s factory gate inflation in July rose at a faster clip from the
previous month and exceeded market expectations, adding to
strains on an economy losing recovery momentum as businesses
struggle with high raw material costs.