The Chai Tattle - 3rd April 2026
Government removes fuel subsidies and goes for targeted relief efforts pushing prices of energy exorbitantly high.
MesoQuill Research
The market started off in a really rough note with the benchmark index dropping more than 4000 points in the first few minutes on the back of late-night fuel price increase announcement by government. The market did recover from that point onward gaining a large portion of the early loss back, but the indices still closed 45-70 basis points lower.
Discrepancy between the negative and positive delta is visible in the skewness and heigh of the curve.
Top News
Barrick Mining company has released a press statement that development activity on the Reko Diq project will be slowing down and the expected cost of Phase 1 ($3-3.6bn) and Phase 2 ($6bn) will be larger than projected.
Earnings
PTA has granted an NOC to PTCL for the amalgamation of PTML and Telenor Pakistan.
Rs 279.50
Rs 494,500
Amjad Farooq has resigned from his position as CFO and has been replaced in the interim by Muhammad Faraz Arzani.