March 24, 2023
Banking Pakistan

PSX Headquarters Weekly Casualties On Increase In Surcharge, Fuel Rates

Stock prices encountered a downturn at the beginning of the outgoing week in opinion of the upcoming mini-budget, declared Arif Habib Ltd.

The mini-budget was illustrated to parliament last Wednesday as Finance Minister Ishaq Dar declared openly surcharge estimates that would develop an extra Rs170 billion in earnings for the remainder of the fiscal year.

Besides, inflationary pressures were distant exacerbated by current boosts in gas and electricity prices, donating to the overall adverse demand sentiments. Petrol and diesel expenses were also heightened by Rs22.20 per litre and Rs17.20 per litre, respectively.

Despite these challenges, there were some optimistic growths in the stock market. Foreign exchange reserves of the State Bank of Pakistan hopped by $276 million to resolve at $3.2bn.

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