*MORNING NEWS* *Friday, 28 February 2025* *Pakistan, UAE pledge to boost ties as Abu Dhabi crown prince undertakes Islamabad visit* | Pakistan and the UAE have resolved to boost bilateral ties as Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on Thursday undertook a maiden day-long visit to Islamabad. https://tinyurl.com/2cl9pbug *Pakistan, Vietnam set $3 billion annual trade target* | Pakistan and Vietnam are exploring joint ventures and enhanced cooperation in key economic sectors, including textiles, manufacturing, information technology, tourism, processed meat, and agriculture. The potential for deeper collaboration was highlighted during a high-level meeting between Vietnam's Ambassador to Pakistan, Pham Anh Tuan, and Lahore Chamber of Commerce and Industry (LCCI) President, Mian Abuzar Shad, at LCCI on Thursday. https://tinyurl.com/2anr48tn *Forex reserves up $21m* | Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $21 million over the past week. https://tinyurl.com/2bygy6xp *Uptick in inflation, water stress for crops likely* | The Finance Division has warned that there are prospects of a slight increase in inflation, i.e., to 3.0 – 4.0 percent by March 2025, besides, the relatively dry conditions may cause water stress for Rabi crops, especially wheat in rain-fed areas. https://tinyurl.com/22rsokwn *FY25 PSDP covers 1,071 projects, NA panel told* | A parliamentary committee was informed on Thursday that the Public Sector Development Program (PSDP) for fiscal year 2024-25 encompasses as many as 1,071 projects comprising 85 foreign-funded initiatives, 30 core projects, 105 projects that are close to completion, six projects designated for special areas, 738 projects currently in progress, and 107 newly-introduced projects. https://tinyurl.com/24fms9jr *Private sector retires 48pc bank debt in a month* | Banks have taken back about 48 per cent of the money they lent to the private sector within a month, indicating that the private sector has no plans to enter the market with new ideas or ventures. https://tinyurl.com/2djefywu *FBR proposes stringent steps to prevent EFS misuse* | The Federal Board of Revenue (FBR) has proposed drastic changes to the Export Finance Scheme (EFS) to prevent misuse of the facility and tighten tax enforcement. https://tinyurl.com/26kw966d *Govt denies external pressure over IPP deals* | While denying any external pressure during negotiations with the Independent Power Producers (IPPs), Power Secretary Fakhar Alam Irfan told the National Assembly Standing Committee on Power on Wednesday that violations by IPPs had been identified. https://tinyurl.com/2a34hnpa *Water, snow shortage: NPCC warns of lower hydel generation* | The National Power Control Centre (NPCC) Thursday warned that hydel generation this summer will be lower than last year due to reduced water and snow availability, leading to increased reliance on expensive RLNG-fired electricity. https://tinyurl.com/23m5z8r9 *Rs2/unit power tariff relief on cards* | Power consumers are set to get a relief of over Rs2 per unit due to reduction in electricity rates on account of fuel adjustment charges for the month of January 2025. https://tinyurl.com/28vz9ddx *SSGC admits LPG deal to impact supply* | Officials of the Sui Southern Gas Company (SSGC) on Thursday admitted in a parliamentary panel's meeting that its agreement with a private company for converting natural gas into the LPG might impact gas supply to its consumers. https://tinyurl.com/25ykjy86 *Govt yet to decide on fuel price deregulation* | With petroleum dealers threatening a nationwide strike over the government’s proposed fuel price deregulation, the Petroleum Ministry on Thursday assured lawmakers that no decision had been made and that stakeholders, including dealers, would be consulted before any move. https://tinyurl.com/27vatfze *Wheat crop may fall below 28m tons* | The Ministry of Finance said on Thursday that wheat production may fall 11% to below 28 million metric tons this year due to dry weather conditions but inflation would remain stable around 3% in February. https://tinyurl.com/2av9lyos *Govt to amend rules for DAP clearance* | The federal government has decided to link the clearance of Di-Ammonium Phosphate (DAP) to Afghanistan under the bilateral transit trade to insurance guarantee, according to a draft of amendments to the Customs Rules 2001 issued by the Federal Board of Revenue. https://tinyurl.com/2aloskj2 _Regards_ _Ismail Iqbal Securities_