IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 16th JANUARY, 2023

S.# Description Pg. # Source
  Fuel prices kept unchanged amid speculation Federal government has kept the prices of all petroleum products unchanged by adjusting rates of petroleum levy (PL) with effect from January 16. https://epaper.brecorder.com/2023/01/16/1-page/952522-news.html 1 Business Recorder
  OMPA questions Ogra ‘discrimination’ with small OMCs Oil Marketing Association of Pakistan (OMAP) has questioned and raised serious concerns over the discrimination of the Oil and Gas Regulatory Authority (Ogra) with small Oil Marketing Companies (OMCs) on recommendation of Oil Companies Advisory Council (OCAC). https://epaper.brecorder.com/2023/01/16/1-page/952523-news.html 1 Business Recorder
  Miftah calls for economic ‘overhaul’ Former finance minister and Pakistan Muslim League-Nawaz (PML-N) leader Miftah Ismail on Sunday called for an ‘overhauling’ for strengthening Pakistan’s ‘ill’ economy. https://epaper.brecorder.com/2023/01/16/1-page/952524-news.html 1 Business Recorder
  Economy grinding to a halt as dollars dry up? Thousands of containers packed with essential food items, raw materials and medical equipment have been held up at Pakistan’s Karachi port as the country grapples with a desperate foreign exchange crisis. https://epaper.brecorder.com/2023/01/16/1-page/952525-news.html 1 Business Recorder
  Sahiwal, Port Qasim coal-fired plants NPCC urges CPPA-G to take up technical schedules National Power Control Centre (NPCC) has urged CPPA-G to take up technical schedules of coal-fired power plants at Sahiwal and Port Qasim with companies and Nepra for finalization of generator frequency setting and de-synchronization time to ensure stability and reliability of power system network to avoid any undesired situation. https://epaper.brecorder.com/2023/01/16/1-page/952517-news.html 1 Business Recorder
  EPQL power generation PPIB seeks analysis on minimum price of PEL gas The Private Power & Infrastructure Board (PPIB) has sought a detailed analysis regarding minimum possible price of Pakistan Exploration Limited (PEL) gas for power generation by Engro Power Gen Qadirpur Ltd (EPQL) as its tariff will not be economical at 70 per cent RLNG, sources close to Managing Director PPIB told Business Recorder. https://epaper.brecorder.com/2023/01/16/1-page/952518-news.html 1 Business Recorder
  PSX remains under pressure Pakistan Stock Exchange remained under pressure during the outgoing week ended on January 13, 2023 due to heavy selling on investor concerns over prevailing economic and political situation in the country. https://epaper.brecorder.com/2023/01/16/1-page/952519-news.html 1 Business Recorder
  Futures spread up by 66bps The futures spread increased by 66bps to 10.87 percent on the last day of the outgoing week. https://epaper.brecorder.com/2023/01/16/1-page/952520-news.html 1 Business Recorder
  AGP detects unauthorised expenditure of Rs867.85m in KP’s health dept The Auditor General of Pakistan (AGP) has detected an unauthorised expenditure amounting to Rs.867.858 million in Health Department during financial year 2017-18, said Audit Report on accounts of Khyber Pakhtunkhwa Year 2019-20. https://epaper.brecorder.com/2023/01/16/3-page/952543-news.html 3 Business Recorder
  Afghan Transit Trade goods Excessive documentation causing delay in clearance of containers: PAJCCI Director Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Ziaul HaqSarhadi has expressed concern over excessive documentation and demand of irrelevant documents at Karachi sea port causing delay in clearance of containers imported under Afghan Transit Trade Agreement. https://epaper.brecorder.com/2023/01/16/3-page/952537-news.html 3 Business Recorder
  Private sector invited to invest in KP tourism zones Experts have invited the private sector to invest in integrated tourism zones (ITZs) in Khyber Pakhtunkhwa to boost up tourism and strengthen the provincial economy. https://epaper.brecorder.com/2023/01/16/3-page/952544-news.html 3 Business Recorder
   Weekly Review Cotton price increases by Rs5,000/maund on local market Cotton price was increased by up to Rs 5,000 per maund on the local market. But on the contrary, the prices of cotton decreased in international cotton market. https://epaper.brecorder.com/2023/01/16/4-page/952552-news.html 4 Business Recorder
  Reforms, not aid pledges, needed for improving economy: BMP The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) said on Sunday that the multilateral donors and friendly countries’ huge sum of aid pledges might not bring any significant impact on struggling economy, as the sustainable solution to Pakistan’s economic issues lies in the structural reforms and consistent policies. https://epaper.brecorder.com/2023/01/16/5-page/952560-news.html 5 Business Recorder
  Prices of flour, chicken show declining trend A declining trend in prices of live chicken/meat, flour, vegetable, except cooking oil, sugar, cow meat, pulses and other commodities was witnessed in the retail market, it was revealed in a survey conducted by Business Recorder here on Sunday. https://epaper.brecorder.com/2023/01/16/7-page/952572-news.html 7 Business Recorder
  Govt focusing on CPEC-SEZs to enhance exports: SEZA chief Special Economic Zones under China Pakistan Economic Corridor (CPEC-SEZs) were one of the main focuses of Pakistan government to uplift export sector. https://epaper.brecorder.com/2023/01/16/7-page/952574-news.html 7 Business Recorder
  PKR declines in all the five sessions The rupee depreciated in all 5 sessions against the US dollar during the previous week, falling 0.44% to settle at 228.15 in the inter-bank market. https://epaper.brecorder.com/2023/01/16/12-page/952615-news.html 12 Business Recorder
  Launch of 5G services faces many challenges The Pakistan Telecommunication Authority (PTA) stringed several challenges and impediments including low handset and optic fibre cable (OFC) penetration, increasing inflation, low average revenue per user (ARPU), and rising operating expenses (OPEX) coupled with high taxation to launch 5G services in the country. https://epaper.brecorder.com/2023/01/16/12-page/952620-news.html 12 Business Recorder
  President directs FBR to avoid ‘futile’ litigation President ArifAlvi has confirmed the key recommendations of the Federal Tax Ombudsman (FTO) to the Federal Board of Revenue (FBR) to issue instructions to field formations to avoid futile litigation and wastage of public resources (taxpayer’s money). https://epaper.brecorder.com/2023/01/16/12-page/952618-news.html 12 Business Recorder
  Remittances and exchange rate volatility Remittances in December 2022 fell for the fourth consecutive month declining by over three percent month-on-month in Dec-22 and a significant 19 percent year-on-year. https://epaper.brecorder.com/2023/01/16/13-page/952621-news.html 13 Business Recorder
  On another debt crisis Facing a challenging re-election battle in the next election cycle, the new year could not have started on a worse note for the US President. https://epaper.brecorder.com/2023/01/16/13-page/952622-news.html 13 Business Recorder
  Car drought Volumes across the automotive industry (excluding Kia and Changan) have dropped 38 percent in the first half of the fiscal year, landing at about 84,000 units. https://epaper.brecorder.com/2023/01/16/13-page/952623-news.html 13 Business Recorder
  World Bank to finance two hydropower projects in KP The World Bank will provide financial assistance for beginning construction work on two hydropower projects of 245 megawatts in Swat district of Khyber Pakhtunkhwa this year, which will generate an annual income of more than Rs13 billion for the province upon completion. https://epaper.brecorder.com/2023/01/16/13-page/952627-news.html 13 Business Recorder
  Average productivity growth in country quite low: study Product-ivity is the measure of how efficiently inputs, such as labour and capital, are used to produce output. https://epaper.brecorder.com/2023/01/16/16-page/952630-news.html 16 Business Recorder
  The Week The consumers of telecom and internet services pay Rs100bn more in duties and levies during the fiscal year ending on June 30, 2022, as the PML-N-led coalition government increased the tax rates soon after coming to power in April 2022. https://epaper.dawn.com/Advt.php?StoryImage=16_01_2023_601_003 1 Dawn Business & Finance
  Ignoring the little guy IT was barely a year ago when the ruling party and the State Bank (SBP) were exuberant about economic growth. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_601_002 1 Dawn Business & Finance
  Real estate`s fictitious file system PAKISTAN`S real estate sector is into transacting plot files that are neither registered with the pertinent government institutions nor bear any cogency in the eyes of the law. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_601_001 1 Dawn Business & Finance
  The deepening forex crisis PAKISTAN remained in the grip of the foreign exchange crisis in 2022. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_602_001 2 Dawn Business & Finance
  Correcting the wheat market FOR the last few decades, Pakistan`s agriculture sector has become the happiest hunting ground for crises. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_602_002 2 Dawn Business & Finance
  Lenders` support and resistance AFTER securing a $4 billion lifeline from friendly Arab countries, the government will be prioritising the revival of the International Monetary Fund (IMF) programme to ensure that other multilateral entities keep the pipeline flowing amid unending political uncertainty. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_603_004 3 Dawn Business & Finance
  Overwhelmed by imports AS on quite a few other important issues, the opinion at the national level on how to reduce trade and current account deficits is sharply divided. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_603_003 3 Dawn Business & Finance
  Simmering hostility underneath IT is sad to watch politicians indulge in power games while the majority struggle for just survival. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_604_002 4 Dawn Business & Finance
  Editorial News    
  Know thy economy The government of Pakistan’s comparative data revealed under the title “Know Your Economy” in the media is but a reiteration of the rebuttal issued by the finance minister of the “White Paper” issued by the Pakistan Tehreek-e-Insaf (PTI) dated 4 January, asserting that the post 9 April 2022 economic policies have raised the prospect of default, accompanied by higher inflation and unemployment. https://epaper.brecorder.com/2023/01/16/6-page/952561-news.html 6 Business Recorder
  CPEC: a game changer or …? Today all three national parties – Pakistan Muslim League-Nawaz (PML-N), Pakistan Peoples’ Party (PPP) and Pakistan Tehreek-e-Insaf (PTI) – are fully supportive of projects under China Pakistan Economic Corridor (CPEC). https://epaper.brecorder.com/2023/01/16/6-page/952564-news.html 6 Business Recorder
  Failure of economic governance IN a book I put together two decades ago, the late Meekal Ahmed, one of Pakistan`s most distinguished economists, contributed a chapter titled `An economic crisis state`. https://epaper.dawn.com/DetailImage.php?StoryImage=16_01_2023_006_004 6 Dawn
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