Pakistan Daily Economy Update - 30 December

Transcription

1. Dec . 30, 2016 KCCI - eBulletin 0.00% USD-Open MKT 29-Dec PKR 108.30 0.09% KSE-100 index FIPI 29-Dec 29-Dec Pts. $ Mn 47,667 -7.92 0.51% NM** Crude (FE'17) 29-Dec $/bbl 53.74 -0.35% Gold (JA'16) 29-Dec $/oz 1,157 1.23% Gold (10g) Local 29-Dec PKR 42,857 0.40% Silver (JA'17) 29-Dec $/oz 16.16 0.62% Cotton(KHI)-40 kg 29-Dec PKR 6,698 0.80% Kibor-6M 29-Dec % 6.15% 0.00% Forex Reserves 23-Dec $ Bn 23.29 0.67% Remittances Jul-Nov 16 $ Bn 7.87 -2.50% Exports* Jul-Nov 16 $ Bn 8.19 -3.93% Imports* Jul-Nov 16 $ Bn 19.96 8.83% Trade Balance* Jul-Nov 16 $ Bn -11.78 -19.90% Current Account Avg. CPI-FY17* Jul-Nov 16 Jul-Nov 16 $ Mn % -2,601 3.92 -90.97% WoW YoY Nov-16 Discount Rate % 5.75 Sources: KCCI Research, PMEX , NCCPL, KSE, SBP, PBS* ** Not Meaningful WoW= week on week; YoY=Year on Year Major Currencies 175 165 155 145 125 115 95 85 75 Dec-15 Sep-16 Dec-16 Source: KCCI Research ; Oanda.com EUR Quote of the Day “Be yourself; everyone else is already taken." Oscar Wilde Chart of the Day 25.0 OFFICIAL RESERVE ASSETS OF PAKISTAN (FY07 - FY16) 22.14 18.86 20.0 16.39 15.42 15.0 11.29 11.78 17.25 15.17 13.16 9.63 10.0 5.0 0.0 2015-16 Power generation at Mangla to be enhanced to 1,310MW WAPDA Chairman has said that WAPDA is implementing Mangla refurbishment project with an approved PC-I cost of PKR 52.22Bn. During the visit to Mangla Dam chairman said that the project would enhance generation capacity of the hydel power station from 1,000MW to 1310MW.Daily Times. Jun-16 GBP 2014-15 Financial inclusion improving Minister of Finance Ishaq Dar chaired the NFIS performance review meeting where it was learnt that significant growth has been witnessed in branchless banking, agriculture credit, microfinance, SME finance and Islamic banking since the launch of National Financial Inclusion Strategy (NFIS). Mr Dar directed all relevant stakeholders including Nadra, FBR, SBP, provincial governments and the finance ministry to work in close collaboration for increasing outreach and access of financial services to people across the country. Dawn. Mar-16 USD 2006-07 CNG prices increased by up to PKR 3.5/kg in Sindh CNG prices have been increased by up to PKR 3.5 per kg across Sindh, the first hike following the govt.’s decision to deregulate the country’s CNG market. CNG prices in Karachi as well as in the rest of Sindh have now climbed to PKR 70-71 per kg following a hike of PKR 2.5 - 3.5 per kg. In this regard, Petroleum Ministry had issued a notice stating that CNG prices are now free from the Ogra’s regulation. The Nation. EUR, 28-Dec-16, 109.3 USD, 28-Dec-16, 104.7 105 KE seeks Nepra’s consent for transfer of shares to SEP The K-Electric Limited has requested NEPRA to allow it to transfer its 66.4% shares to the Shanghai Electric Power (SEP). SEP plans to continue KEL's operational improvement. SEP has reviewed the Multi Year Tariff (MYT) petition and broadly agrees with KEL's business plan to the extent required to meet demand growth and improve performance standards. Daily Times. FBR won't pursue recovery of GST on tariff subsidy, ministry told FBR has assured the Water and Power Ministry that it would not pursue recovery of sales tax on tariff subsidy provided by the federal govt. to electricity consumers till the matter is decided by the appellate fora. The FBR has suggested that DISCOs may pursue their cases in respective appellate fora on the strength of Appellate Tribunal Inland Revenue (ATIR) judgement. The FBR has also decided to provide technical assistance to the power DISCOs for complete filing of sales tax returns which is mandatory for these companies. BR. GBP, 28-Dec-16, 128.3 135 2013-14 Go-slow at Karachi harbour harms fruit exports Pakistan’s fruit and vegetable exporters have urged the Commerce Ministry to immediately take notice of the ‘go-slow’ strategy of dock workers at the Karachi Port Trust as it is harming fruit exports. They have asked the Commerce Minister to intervene in a standoff at the port that has been going on since 26th Dec’16, and which is detrimental to the ongoing export of oranges and potatoes would take a huge hit. Tribune. Change Daily 104.85 2012-13 Heads of regulatory bodies told to brief Senate panel The Senate Standing Committee has summoned the heads of five regulatory bodies for having a detailed briefing on bringing them (regulatory bodies) under the administrative control of respective ministries. The meeting discussed the transfer of administrative control of NEPRA, PTA, Frequency Allocation Board (FAB), OGRA and Public Procurement Regulatory Authority (PPRA) from the Cabinet Division. The committee has informed that regulatory bodies are independent and that govt. attached them with the respective ministries only for the administrative purposes. BR. Value PKR 2011-12 World Bank opposes placing NEPRA under power ministry’s control The World Bank has opposed Pakistan’s decision to place its power regulator, Nepra, under administrative control of the Ministry of Water and Power, which is apparently a bid to snatch autonomy of the regulator. For years, multilateral donors have been insisting that the government ensures that autonomy of the regulators is protected. Now, the World Bank has joined the chorus and conveyed its opposition. Tribune. Unit 29-Dec 2010-11 Benami transactions: Senate body approves legislation Finance Standing Committee has approved a proposed legislation aimed against holding property in Benami transactions with some minor amendments and award for whistle blowers. In this regard, Finance Committee withdrew majority of its amendments, including reservations to allow a freehand to the govt. to have full access to any premises, place, account documents or computer to enforce any provision of the proposed Act. BR. List of Indicators 2009-10 Ogra recommends up to 16.02% hike in PoL prices OGRA has recommended the govt. up to 16.02% increase in the prices of PoL products for Jan.’17. An increase of 0.47% or PKR 0.31 per litre in the prices of Motor Spirit (Petrol), 5.24% or PKR 3.94 per litre increase in the prices of High Speed Diesel (HSD), 16.02% or PKR 6.93 in the prices of Kerosene oil and 8.02% or PKR 3.48 in the prices of Light Diesel Oil has been recommended. The Nation. Date / Period USD-Interbank 2008-09 Pakistan’s water security made part of CPEC framework Pakistan and China have decided to make water security a part of the CPEC framework amid threats by India to review its position on the 1960 Indus Waters Treaty. Pakistan may face a very severe water crisis and for economic and food security of the country, the immediate construction of Diamer-Bhasha is crucial. For more than two decades, Pakistan has been trying to construct the Diamer-Bhasha dam with an estimated cost of $ 14Bn. However, due to opposition by India, both the World Bank and the Asian Development Bank have refused to lend money under one pretext or another. Tribune. Economic Indicators 2007-08 Keti Bandar, KCR included in CPEC The Chinese authorities, in principle, have approved the inclusion of three important projects of Sindh in the CPEC. These are Karachi Circular Railways, Keti Bandar and Special Economic Zone (SEZ). The decision was taken in the 6th CPEC related Joint Co-operation Committee (JCC) meeting. The Chinese delegation was led by Vice Chairman Wang Xiaotao while a delegation of Sindh government was led by Chief Minister Syed Murad Ali Shah. The JCC decided to give Special Economic Zone to every province, including Sindh which would have Dhabeji Special Economic Zone. BR. Source: KCCI Research, SBP Value in $ Bn Disclaimer This report has been prepared by KCCI Research & Development Cell. The information contained Russia to install 60 LPG Air Mix plants in Pakistan herein have been compiled or arrived at based upon information obtained from sources believed Russia is to install 60 LPG Air Mix plants in Pakistan out of which 24 will be set up in Balochistan. The remaining will be set up to be reliable and in good faith. Such information has not been independently verified. at Muree, in Gilgit-Baltistan and AJK. The Federal Minister for Petroleum and Natural Resources has said that they are in talks icon represents the sole viewpoint of the KCCI R&D Cell, and is stated to enrich the readers' with a Russian firm and are very close to finalisation of the deal. This will be the second deal on natural gas with Moscow understanding of the news item. The R&D Dept. bears no responsibility for its correctness or being finalised as Russia will construct 1,100 kilometer LNG pipeline from North to South too. The News. accuracy. Contact: res@kcci.com.pk