IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 10th JANUARY, 2022

S.# Description Pg # Source
01. OCAC’s solution aimed at rescuing local refineries? Oil Companies Advisory Council (OCAC) has proposed to the Ministry of Energy (MoE) to continue generating 1,500MW electricity on HSFO for five years as win-win solution to rescue local refineries. https://epaper.brecorder.com/2022/01/10/1-page/914581-news.html 01 Business Recorder
02. Tax exemptions Two AJK hydropower projects concerned at proposed withdrawal Two hydropower projects of cumulative capacity of 1824.7MW being established in Azad Jammu and Kashmir (AJ&K) have raised serious concerns on proposed withdrawal of tax exemptions including imposition of 17 percent GST on import equipment and machinery.  https://epaper.brecorder.com/2022/01/10/1-page/914577-news.html 01 Business Recorder
03. REAP raises objections Terming the Finance (Supplementary) Bill 2021 as a “devastating step” that envisages withdrawal of zero-rating status of various export-oriented sectors, the Rice Exporters Association of Pakistan (REAP) has sought immediate intervention of parliamentarians and finance ministry officials for brining amendments to the bill before its passage from the National Assembly. https://epaper.brecorder.com/2022/01/10/1-page/914578-news.html 01 Business Recorder
04. Stocks gain positive momentum Pakistan Stock Exchange (PSX) gained positive momentum during the first week of the new-year ended on January 07, and closed in green with increased trading activities. https://epaper.brecorder.com/2022/01/10/1-page/914579-news.html 01 Business Recorder
05. Futures spread increases by 753bps The futures spread increased by 753bps to 13.76 percent on the last day of outgoing week. https://epaper.brecorder.com/2022/01/10/1-page/914580-news.html 01 Business Recorder
06. July 17, 2020 to June 1, 2021 Surpassing target, Customs Peshawar collects Rs30,515.96m Customs Peshawar has collected Rs30515.96 million against the fixed target of Rs5918.0 million from July 17, 2020 to June 2021, showing an unprecedented increase as compared to previous collection of revenue/tax collection targets. https://epaper.brecorder.com/2022/01/10/3-page/914598-news.html 03 Business Recorder
07. FPPCI’s panel urges govt to take steps aimed at reducing trade deficit  The Federation of Pakistan Chambers of Commerce Industry’s Businessmen Panel has warned the government of incessant surge in trade deficit, widened by 106.4% during the first half of the current fiscal year 2021-22,keeping the local currency under pressure, which is back to its depreciating trend against the US dollar, after remaining stable for a couple of days. https://epaper.brecorder.com/2022/01/10/4-page/914605-news.html 04 Business Recorder
08. Weekly Review Rate of quality cotton soars to Rs20,000/maund The rate of quality cotton reached Rs 20,000 per maund after increasing by Rs 1000 per maund.  https://epaper.brecorder.com/2022/01/10/5-page/914610-news.html 05 Business Recorder
09. Prices of essential food items rise sharply A sharp increase in prices of essential food commodities, including live chicken/meat, farm eggs, vegetables, pulses, cooking oil/ghee, flour and fresh fruits/dry fruits and others was witnessed in the retail market, according to a survey carried out by Business Recorder here on Sunday. https://epaper.brecorder.com/2022/01/10/7-page/914628-news.html 07 Business Recorder
10. PKR closes lower, albeit marginally, in inter-bank market Despite recording a 0.14% gain on Friday, the rupee closed marginally lower in the inter-bank market last week with a widening trade deficit continuing to take toll on the currency. https://epaper.brecorder.com/2022/01/10/12-page/914663-news.html 12 Business Recorder
11. The urea puzzle The urea sales in 2021 were at all time high at 6.34 million tons. The area under cultivation has not increased as such. https://epaper.brecorder.com/2022/01/10/13-page/914665-news.html 13 Business Recorder
12. Mini-budget on agenda as NA session begins today The National Assembly will begin its fresh session on Monday (today) with the controversial Finance (Supplementary) Bill, generally known as the mini-budget, on its agenda as Leader of the Opposition Shehbaz Sharif convened a meeting of the joint opposition in Parliament House before the start of the sitting to devise a strategy to block the bill`s passage. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_003_008 03 Dawn
13. Zero sales tax withdrawal: Businessmen see grave implications Rejecting the withdrawal of zero sales tax rating facility for different export-oriented sectors through the so-called mini-budget, businessmen have cautioned those at the helm of affairs that the step will negatively impact the national exports. https://www.dawn.com/news/1668541 13 Dawn
14. Victims of thoughtless taxation THERE`S a growing trend > across the globe to use fiscal and tax policy measures as interventions to improve public welfare levels, end malnutrition and protect the environment. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_601_004 28 Dawn
15. Growing inequality worries businesses THE business community is worried over the deepening and widening income/asset disparity in the country as the resulting social and economic discontent may ignite unrest and, in turn, threaten businesses and their future outlook. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_601_005 28 Dawn
16. A move for the new kids on the block IN August last year, a Rs100,000 online pay> ment was made from the salary account in a globally acclaimed bank to pay off the credit card bill of another hot-shot bank known for its discounts. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_601_006 28 Dawn
17. The Week The Senate Standing Committee on Petroleum expresses dismay over the “casual attitude” of some government departments leading to delays in the import of liquefied natural gas and liquefied petroleum gas by the private sector. https://epaper.dawn.com/?page=10_01_2022_601 28 Dawn
18. The state and the State Bank`s autonomy THE tabling of the State Bank of Pakistan (SBP)Amendment Bill 2021 in the parliament has brought to the fore the main disagreement between the International Monetary Fund (IMF) and the Pakistan government. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_602_001 29 Dawn
19. Urea: a preventable crisis that is worsening AS warned by all stakeholders, urea supply and prices seem to have spun out of everyone`s control impacting the Rabi crop cycle and threatening the coming Kharif.  https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_602_002 29 Dawn
20. Placing common good at the top of policymakers` agenda SURGING inequality is a first order problem that requires significant policy attention, say political economists, while raising hopes they have the tools to reverse the process. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_603_003 29 Dawn
21. Create new arhti or eliminate the old? FARMERS in Pakistan have to depend on arhti (commission agent) for the supply of inputs and the sale and distribution of agricultural outputs. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_603_002 29 Dawn
22. Data points The difference a decent boss makes If you run an organisation where bad managers are overlooked or even rewarded, no amount of free fruit or employee meditation apps will fix it. https://epaper.dawn.com/DetailImage.php?StoryImage=10_01_2022_604_005 30 Dawn
23. Cottage Industry Employment Based on available date (until 2020), mirco, small and medium enterprises employe an average of 76.6pc of a country’s workforce in South Asia, says a reportt by the Asian Development Bank. https://epaper.dawn.com/Advt.php?StoryImage=10_01_2022_604_003 30 Dawn
  EDITORIAL NEWS    
24. Removal of distortions Dr Muhammad Ashfaq, Chairman Federal Board of Revenue (FBR), while briefing the Senate Standing Committee on Finance stated that all-out efforts are under way to fix distortions in the tax system to ensure that the ongoing six billion dollar International Monetary Fund (IMF) programme is the last such programme. https://epaper.brecorder.com/2022/01/10/6-page/914619-news.html 06 Business Recorder

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