Important Business News 01st June, 2021

S.# Description Pg # Source
01. ‘Green Eurobond’ launched to raise $500m for dams PM highlights hydropower potential   Prime Minister Imran Khan on Monday said that there is a huge potential of hydropower in the country, and the government would be constructing 10 dams that would help produce 10,000 MW environment-friendly clean energy and conserve water to irrigate 0.1 million acres of land. 01 Business Recorder
02. Vaccine procurement for June $130m approved by ECC   The Economic Coordination Committee (ECC) of the Cabinet has approved allocation of US$ 130 million (Rs20 billion) for the procurement of 10 million doses of corona vaccine for the month of June 2021 only. 01 Business Recorder
03. Markets.Rates.The Rupee THE RUPEE: Mixed patterns   On Monday, PKR exhibited mixed movement. It went up against USD in inter-bank while going down in open market going below 155. 01 Business Recorder
04. Buying houses, sourcing cos Govt likely to announce incentives   The government is likely to announce incentives for buying houses, sourcing companies or liaison offices that play a vital role in establishing effective customer-supplier relationships with the objective of enhancing their footprints in Pakistan, well-informed sources told Business Recorder. 01 Business Recorder
05. SBP extends prize bond encashment deadline Following directives of the federal government, the State Bank of Pakistan (SBP) has extended the last date for encashment or conversion of Rs 15,000, Rs 25,000 and Rs 40,000 (unregistered) denomination prize bonds up to September 30, 2021 to facilitate the general public. 01 Business Recorder
06. KSE-100 Index strengthens BRIndex100 rallies   Pakistan Stock Exchange Monday witnessed a bullish trend with brisk trading activity on the back of aggressive buying by local and foreign investors coupled with institutional support. 01 Business Recorder
07. Failure to deliver cars in two months Govt decides to penalise automakers   The government has decided to penalise auto manufacturers, in case of failing to deliver vehicles to the consumers, within two months, after booking orders as per new auto policy. 02 Business Recorder
08. $76.28m Korean loan received for IT Park project The government has received a loan of $76.28 million from the Republic of Korea for establishment of the Information Technology Park project in Islamabad. 02 Business Recorder
09. NA panel concerned over PD move to alter bill through Ord The National Assembly Standing Committee on Power Monday expressed its concern at the Power Division move to allegedly altering the approved bill through an ordinance and sought a briefing from the Minister for Energy in the next meeting. 02 Business Recorder
10. Pakistan mandated to host World Environment Day for its leading role Pakistan despite the least contributor to global green house gases emissions has been bearing the burden of erratic natural disasters and environmental degradation whereas its initiative to host World Environment Day was it’s recognition as international leader in Nature Based Solution and Eco-System Restoration Initiative. 03 Business Recorder
11. SEZs to be futile if industries not installed timely: CPEC body The Parliamentary Committee on China-Pakistan Economic Corridor (CPEC) has observed that the establishment of Special Economic Zones (SEZs) would be futile, if industries are not installed there timely. 03 Business Recorder
12. LPG price increased by Rs8/kg The Oil and Gas Regulatory Authority (OGRA) has increased the LPG price by Rs8 per kg for the month of June. As per the OGRA’s notification, the rate of domestic cylinder will increase by Rs141 to Rs 1,667, and the new price of commercial LPG cylinder will be Rs 6,415. 05 Business Recorder
13. July-May (2020-21) 18pc increase in collection   The Federal Board of Revenue (FBR) has provisionally collected Rs4,167 billion during July-May (2020-21) against Rs3,532 billion in the same period of 2019-20, reflecting an increase of 18 percent. 12 Business Recorder
14. Dangerous chemical-laden ship Minister briefs PM about inquiry   Minister for Maritime Affairs Syed Ali Haider Zaidi called on Prime Minister Imran Khan here on Monday and updated him on the probe into the anchoring of a ship at Gadani loaded with dangerous chemicals. 12 Business Recorder
15. POL products’ prices stay unchanged The federal government has announced that it will keep the prices of petroleum products at the level of May 17 ahead of annual budget 2021-22. 12 Business Recorder
16. Cotton market: Firm trend amid selective buying The local market remained stable on Monday. Market Sources told that trading volume remained thin. 16 Business Recorder
17. Sindh offers defaulters incentive to meet tax revenue target   In a bid to meet the Rs135 billion revenue target set in the provincial budget for FY21, the Sindh Revenue Board (SRB) on Monday launched a `onetime` incentive scheme for defaulters of provincial sales tax on services. 09 Dawn
18. REER hits 32-month high in April   Pakistan`s real effective exchange rate (R EER) hit 32-month high at 103.3 in April, posting a change of 2.8 per cent from the previous month`s level of 100.5, the central bank reported on Monday. 09 Dawn
19. TCP floats tender for 50,000 tonnes of sugar    Pakistan`s state agency the Trading Corporation of Pakistan (TCP) has issued an international tender to purchase 50,000 tonnes of white sugar, European traders said on Monday. 09 Dawn
20. Tarin’s revelations Federal Finance Minister Shaukat Tarin while addressing a seminar organised by Institute of Policy Reforms titled “Budget 2021-22: Balancing Stability and Growth” maintained that with the permission of the Prime Minister he intends to reach out to opposition parties to develop a consensus on the consistency of policies to achieve inclusive and sustainable growth in the long-term. 10 Business Recorder
21. Currency exchange rates   Countries U.S. U.K EURO CHINA SAUDIA ARABIA Symbol $ £ ¥ ﷼, SR Rates 155.70 219.30 188.80 24.27 41.10 17 Business Recorder

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