IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 12th July, 2021

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1.Receivables, payable casesPC seeks power to frame settlement rulesPrivati-sation Commission (PC) has sought powers to formulate comprehensive rules for settlement of outstanding receivables and payable cases for the approval of the Federal Government (Federal Cabinet) after conducting due process, well informed sources told Business Recorder.https://epaper.brecorder.com/2021/07/12/1-page/893078-news.html1Business Recorder
2.International transport operatorsFBR to charge Rs15m insurance guaranteeThe Federal Board of Revenue (FBR) will charge an insurance guarantee of Rs15 million from the international transport operators engaged in import, export or transit of goods, through the cross border of Pakistan, under the Transports Internationaux Routiers (TIR) Carnets.https://epaper.brecorder.com/2021/07/12/1-page/893074-news.html1Business Recorder
3.Gas pipelineRussia concerned at reports?Russia is said to have expressed its concerns over reports that Pakistan is considering working out alternate plan to construct the $ 2.5 billion Pakistan- Stream Gas Pipeline (PSGP) project from Port Qasim to Kasur, formerly known as North South Gas Pipeline, sources close to the SAPM on Power and Petroleum told Business Recorder.https://epaper.brecorder.com/2021/07/12/1-page/893079-news.html1Business Recorder
4.PSX remains under pressureBRIndex100 tumblesPakistan Stock Exchange (PSX) remained under pressure during the outgoing week ended on July 09, due to selling in various sectors.https://epaper.brecorder.com/2021/07/12/1-page/893076-news.html1Business Recorder
5.Futures decline by 290bpsThe futures spread declined by 290bps to 7.39 percent on the last day of outgoing week.https://epaper.brecorder.com/2021/07/12/1-page/893077-news.html1Business Recorder
6.$503.910m earned by exporting transport services in 10 monthsPakistan earned US $ 503.910 million by providing different transport services in various countries during the first ten months of fiscal year (2020-21) as compared to the corresponding period of last year.https://epaper.brecorder.com/2021/07/12/2-page/893087-news.html2Business Recorder
7.Sarhad chamber criticises abolishment of cash in counter facilityPresident, Sarhad Chamber of Commerce and Industry (SCCI), Sherbaz Bilour has expressed grave concern over abruptly abolishment of cash in counter facility, which aimed to facilitate trade between Pakistan and Afghanistan, onward to central Asian republic countries.https://epaper.brecorder.com/2021/07/12/2-page/893084-news.html2Business Recorder
8.Upward trend in prices of essential food items witnessedUpward trend in prices of essential food commodities, especially ginger, garlic and tomatoes ahead of Eid-ul-Azha, the second largest Muslim festival was witnessed in the retail market, according to a survey conducted by Business Recorder here on Sunday.https://epaper.brecorder.com/2021/07/12/3-page/893096-news.html3Business Recorder
9.‘BoI creating $50bn FDI opportunities by 2023’The Board of Investment (BoI) is actively pursuing strategies to create opportunities for $50 billion Foreign Direct Investment (FDI) in the country by 2023 under its new investment plan, an official of the board told APP.https://epaper.brecorder.com/2021/07/12/4-page/893100-news.html4Business Recorder
10.Knitwear exports increase by 32.70pcThe exports of knitwear during eleven months of FY 2020-21 grew by 32.70 percent as compared to the exports of the corresponding period of last year.https://epaper.brecorder.com/2021/07/12/4-page/893101-news.html4Business Recorder
11.Weekly Cotton ReportPrices, trading volume continue to riseThe bullish trend was witnessed in the rate of cotton in the local cotton market during the last week because local textile and spinning mills took interest in buying due to which the rate of cotton increased by Rs 200 to Rs 300 per maund.https://epaper.brecorder.com/2021/07/12/5-page/893116-news.html5Business Recorder
12.90pc work on white oil pipeline’s dualization completedThe Petroleum Division has ‘technically’ completed 90 per cent work on dualization of the White Oil Pipeline (WOP), from Karachi to Mehmood Kot section, for smooth supply of petrol and diesel to Oil Marketing Companies (OMCs) and reducing reliance on the traditional mode of transportation through tankers.https://epaper.brecorder.com/2021/07/12/7-page/893131-news.html7Business Recorder
13.Pak-Afghan borderOnly two points to be opened: RashidFederal Minister for Interior Shaikh Rashid Ahmed said on Sunday that that the government has decided to open only two points at Pak-Afghan border, Chaman and Torkham, adding that only vaccinated people would be allowed to cross the border.https://epaper.brecorder.com/2021/07/12/7-page/893125-news.html7Business Recorder
14.LPG: the poor man`s fuelLIQUEFIED Petroleum Gas (LPG), which is the so-called poor man`s fuel, is once again at the mercy of policymakers facing a policy reversal instead of improvement.https://epaper.dawn.com/DetailImage.php?StoryImage=12_07_2021_601_0051Dawn Business & Finance
15.Do we need trade unions?PAKISTANI businesses perceive > trade unions as a drag on growth, a redundant institution led by hooligans known for blackmailing the management, a legal burden impinging on their freedom, a regressive force against technological advancement and a tool in the hands of hostile political entities.https://epaper.dawn.com/DetailImage.php?StoryImage=12_07_2021_601_0041Dawn Business & Finance
16.Beyond the startup funding hypeWITH the startup ecosystem now finally deep in the money (relative to our own past), you can hear all the buzz about the impending tech boom in the country.https://epaper.dawn.com/DetailImage.php?StoryImage=12_07_2021_601_0061Dawn Business & Finance
17.Deterring tax avoidance by global companies NEGOTIATORS from 131 countries have agreed on a major overhaul of how the world biggest multinational companies are taxed. It`s an effort to deter complex international avoidance schemes that have cost governments billions in revenue.https://epaper.dawn.com/DetailImage.php?StoryImage=12_07_2021_604_0064Dawn Business & Finance
 International News  
18. ECOSOC chief warns of serious clean water shortage by 2050The President of United Nations Economic and Social Council (ECOSOC), Pakistani Ambassador Munir Akram, has warned that by 2050 more than half of the world’s population would be at risk due to water stress, and called for a multilateral response to deal with the challenge.https://epaper.brecorder.com/2021/07/12/3-page/893097-news.html3Business Recorder
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