The Sindh Government recognises a total of 1414 katchi abadis in the province. Estimates from the ground suggest there are more katchi abadis than that in Karachi alone.
Source: Katchi Abadies Department Government of Sindh; MP Analysis
KSE-100 rose marginally this week due to positive news from SBP and OGRA.PKR again depreciated slightly this week in relation to USD. Local gold prices remain unchanged from last week. After a few weeks of anemic growth and decline, the KSE-100 rallied this week as the State Bank received USD 1 billion through Eurobond sales, taking foreign currency reserves to a four-and-a-half year high. The increase in fuel prices also led to greater stock buying in oil sectors. PKR depreciated again this week, as tensions in neighboring Afghanistan escalate. Local gold prices remained unchanged from last week.
What Else We’re Reading (Local)
- Hum Mart, one of the earliest eGrocery startups, has gone on hiatus despite the backing of a big media group and favourable Covid-19 conditions. What went wrong? (Profit)
- A locally assembled electric bike is about to hit the roads. The Jolta JE-70 has been priced at PKR 82,500 and the company claims buyers will save PKR 4,000 each month compared to a petrol-driven 70cc bike. (Dawn)
What Else We’re Reading (International)
- High-level corruption in China to access cheap credit, tax breaks and procurement contracts may be fuelling unsustainable borrowing and building. (Foreign Affairs)
- The blast in Dasu, that killed nine Chinese workers, has caused some tension between China and Pakistan. However, the relationship between the two countries overall is likely to remain unaffected (South China Morning Post)