*Today’s News* *Economy* 1. EFF approved despite ‘dissenting voices’: IMF MD https://epaper.brecorder.com/2025/02/22/1-page/1029432-news.html 2. Two IMF missions due for talks on climate finance, EFF review https://www.thenews.com.pk/print/1285354-2-imf-missions-due-for-talks-on-climate-finance-eff-review 3. Broadening tax base:PRAs and depts share data with FBR https://epaper.brecorder.com/2025/02/23/1-page/1029523-news.html 4. Weekly inflation rises on spike in sugar rates https://www.dawn.com/news/1893533/weekly-inflation-rises-on-spike-in-sugar-rates 5. Budget preparations commence in consultation with traders: Aurangzeb https://epaper.brecorder.com/2025/02/24/1-page/1029598-news.html 6. PKR: marginal decline https://epaper.brecorder.com/2025/02/22/1-page/1029437-news.html *Industry* 1. An unlisted firm can raise capital via ESOS: SECP https://epaper.brecorder.com/2025/02/22/8-page/1029511-news.html 2. Windfall for govt as Rs23bn collected from 16 banks in just one day https://www.thenews.com.pk/print/1285540-windfall-for-govt-as-rs23bn-collected-from-16-banks-in-just-one-day 3. Vocational training:3-year job prospects plan presented to PM https://epaper.brecorder.com/2025/02/22/1-page/1029431-news.html 4. EU-Pakistan business forum in May https://epaper.brecorder.com/2025/02/23/1-page/1029522-news.html *Energy* 1. Circular debt stands at Rs2.384tr https://tribune.com.pk/story/2530316/circular-debt-stands-at-rs2384tr 2. To resolve Rs2,381bn circular debt issue: Talks on with banks to finalise terms for Rs1,240bn loan https://www.thenews.com.pk/print/1285956-to-resolve-rs2-381bn-circular-debt-issue-talks-on-with-banks-to-finalise-terms-for-rs1-240bn-loan 3. Ministerial body recommends selling Discos to private sector https://epaper.brecorder.com/2025/02/24/1-page/1029603-news.html 4. Petrol dealers threaten strike over price deregulation https://www.dawn.com/news/1893892/petrol-dealers-threaten-strike-over-price-deregulation *Companies* 1. Digital services:SBP grants pilot licence to MBPL https://epaper.brecorder.com/2025/02/22/8-page/1029509-news.html 2. PTCL lands high-speed cable at Karachi https://www.dawn.com/news/1893743/ptcl-lands-high-speed-cable-at-karachi *Politics/General* 1. PTI does not accept 26th Amendment, CJP told https://epaper.brecorder.com/2025/02/22/1-page/1029422-news.html 2. ECP tells SC bench:Senators opposed e-voting due to security concerns https://epaper.brecorder.com/2025/02/22/1-page/1029423-news.html *Commodities* 1. Oil dips on pending Kurdistan supply resumption https://www.brecorder.com/news/40349686/oil-dips-on-pending-kurdistan-supply-resumption *Movement in major commodities:* *Energy* Arab light (USD/bbl): 80.6 (+0.4% D/D) Brent crude (USD/bbl): 74.1 (-3.3% D/D) R-Bay coal (USD/ton): 92.9 (-1.8% D/D) *Metals* Gold (USD/oz): 2953 (-0.1% D/D) HRC (USD/ton): 466 (0% D/D) Rebars (USD/ton): 455 (+0.2% D/D) *Fertilizer as of 21-Feb* Urea (USD/ton): 396.5 (-0.8% D/D) DAP (USD/ton): 600 (-0.7% D/D) *Chemicals as of 21-Feb* PVC-Ethylene (USD/ton): 282.8 (+6.8% W/W) PTA-PX (USD/ton): 97 (-0.1% W/W) *Exchange Rate* PKR/USD: 279.57 (+0% D/D) PKR/GBP: 354.2 (+0.6% D/D) PKR/EUR: 293.39 (+0.6% D/D) PKR/JPY: 1.86 (-0.2% D/D) *Fixed Income* PKRV 3M : 11.79 (+0.17% D/D) PKRV 6M: 11.69 (0% D/D) PKRV 12M: 11.6 (0% D/D) PKRV 3YR: 11.8 (-0.085% D/D) PKRV 5YR: 12.25 (0% D/D) PKRV 10YR: 12.27 (+0.163% D/D) *Equity Markets* KSE 100 (Pakistan): 112801pts (-0.8% D/D) DJIA (USA): 43428pts (-1.7% D/D) S&P 500 (USA): 6013pts (-1.7% D/D) MSCI EM: 1147pts (+1.3% D/D) *Optimus Research*