Air Link IPO oversubscribed by 1.6 times 
The Air Link Initial Public Offer (IPO) is oversubscribed by 1.6 times
as the company has raised Rs 6.43 billion, highest-ever IPO issued
by private sector in Pakistan. The strike price was Rs 71.5 per share
against the offer price of Rs 65.0 per shares.
Govt reduces petrol price by Rs1.5 per litre from Sept 1 
The government on Tuesday decided to decrease the prices of
petrol and high-speed diesel (HSD) by Rs1.5 per litre from Sept 1 to
“provide maximum relief” to people. It also decreased the price of
kerosene by Rs1.5 and that of light diesel oil (LDO) by Rs1 per litre,
PPL-led consortium secures exploration deal in UAE 
A Pakistan Petroleum Limited-led consortium of four public sector
exploration and production (E&P) entities has secured a major
exploration opening — Offshore Block 5 — in Abu Dhabi, the
United Arab Emirates, involving an investment of about $400
TPL Plans Pakistan’s Biggest REIT to Gain From Construction Push
A unit of Pakistan’s TPL Corp. plans to raise as much as $500 million
through a private real estate investment trust, marking one of the
largest such fundraisings in the nation’s history. TPL REIT
Management Co. is seeking to raise 60% of the targeted funds
from foreign investors, 30% from domestic investors and the rest
from its parent TPL Properties Ltd., according to Ali Jameel, CEO of
TPL Corp.
Oil production sees 10pc drop over a week 
The country’s average per day oil and gas production dropped 10
per cent and 2pc, respectively, in the week ending Aug 18-24 to
69,878 barrels and 3,337 million cubic feet from 77,730bopd and
3,406mmcfd over the preceding week Aug 11-17.
PSO books costliest LNG cargo for September 
Making a new record, state-run PSO on Tuesday awarded a LNG
cargo to commodity trader Vitol at 24.5456pc of Brent (about
$17.86 per mmBtu) – the most expensive so far – for delivery on
Sept 26-27.

Wholesome food now out of 68pc Pakistanis reach: WB
Wholesome food has gone out of majority of Pakistanis reach as
runaway food inflation continues to challenge government’s writ
as well as policies, a World Bank official said.
ECC approves $10mln for PIAIL to pay liabilities 
The Economic Coordination Committee (ECC) of the Cabinet on
Tuesday allowed PIA Investment Limited to utilise $10 million to
meet its immediate financial obligations. Shaukat Tarin, minister for
Finance and Revenue chaired the ECC meeting.
Asian shares down on slow-growth fear; dollar stays near three week low 
Asian shares gave up some of their recent gains in cautious
trading on Wednesday while the dollar inched back from three week lows, as worries about slowing global growth in several
markets returned to weigh on traders’ minds.
Oil steady ahead of OPEC+ supply decision 
Oil prices were stable on Wednesday ahead of an OPEC+
meeting, at which major producers will decide whether to go
ahead with their plan to add supply while COVID-19 cases soar in
Asia and U.S. refiners assess flood damage in the wake of
Hurricane Ida.
China moves to cap the cost of renting a home in cities 
The Chinese government has said the cost of renting a home in
cities should not rise by more than 5% a year – its first move to cap
rental prices and part of efforts to provide more affordable
Asia factories hit by pandemic supply chain disruptions 
Asia’s factory activity lost momentum in August as a resurgence in
coronavirus cases disrupted supply chains across the region,
raising concerns faltering manufacturing will add to the economic
woes caused by slumping consumption.