IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 18th OCTOBER, 2021

S.# Description Pg. # Source
1. Sales Tax on wheat bran FBR’s field formations create panic among flour millers?
The field formations of Federal Board of Revenue (FBR) are said to have created panic amongst hundreds of flour mills by starting charging sales tax on wheat bran despite exemption available under SRO 837(I)/2015. https://epaper.brecorder.com/2021/10/18/1-page/904440-news.html
1 Business Recorder
2. PD to submit report on strategic oil reserves to CCoE Petroleum Division is to submit a report on storage of strategic reserves of oil to Cabinet Committee on Energy (CCoE) in its next meeting, official sources told Business Record. https://epaper.brecorder.com/2021/10/18/1-page/904432-news.html 1 Business Recorder
3. Hike in POL products’ prices Govt irked by growing criticism
Minister for Information and Broadcasting Fawad Chaudhary has said that economic difficulties are temporary. https://epaper.brecorder.com/2021/10/18/1-page/904434-news.html
1 Business Recorder
4. IMF talks to ‘resume’ today: MoF A spokes-man of the Ministry of Finance has refuted the media reports about failure of the talks with International Monetary Fund (IMF) and clarified that the talks would resume today (Monday) uninterrupted. https://epaper.brecorder.com/2021/10/18/1-page/904436-news.html 1 Business Recorder
5. PSX witnesses highly volatile activity BRIndex100 gains 17.66 points
Pakistan Stock Exchange witnessed highly volatile activity during the outgoing week as the investors remained cautious due to their concerns over political and economic situation. https://epaper.brecorder.com/2021/10/18/1-page/904438-news.html
1 Business Recorder
6. Futures spread declines by 641bps The futures spread declined by 641bps to negative 1.39 percent on the last day of the outgoing week. https://epaper.brecorder.com/2021/10/18/1-page/904439-news.html 1 Business Recorder
7. Rates of RDs, ACDs Uzbekistan refuses to enter into PTA
Uzbekistan has reportedly refused to enter into Preferential Trade Agreement with Pakistan (PTA) with present rates of Regulatory Duties (RDs) and Additional Customs Duties (ACDs), well-informed sources told Business Recorder. https://epaper.brecorder.com/2021/10/18/3-page/904450-news.html
3 Business Recorder
8. Weekly Review It’s difficult to determine cotton market conduct
Due to extraordinary fluctuation in the market it is difficult to determine the direction of the market. https://epaper.brecorder.com/2021/10/18/5-page/904475-news.html
5 Business Recorder
9. Hike in POL products’ prices cause increase in rates of kitchen items Prices of essential food commodities have increased manifold as impacts of the rising petroleum commodities became visible in local retails and wholesale markets. https://epaper.brecorder.com/2021/10/18/7-page/904484-news.html 7 Business Recorder
10. PKR falls again After gaining ground the week before, PKR fell again last week against USD in both interbank and open markets; going below 171 in interbank and coming close to 172 in open market. https://epaper.brecorder.com/2021/10/18/12-page/904520-news.html 12 Business Recorder
11. Walking on the same old muddled paths TABAHI ka nuskha hai (it`s a recipe for disaster); tabdeeli ka tohfa (gift from a party that promised `change`); picture abhee baqi hai meray dost (more is yet to come, my friend); mar jaen tau achha hai (it`s better to die). https://epaper.dawn.com/DetailImage.php?StoryImage=18_10_2021_601_005 1 Dawn Business & Finance
12. The Week The International Monetary Fund forecasts Pakistan’s major fiscal indicators gradually improving this year and beyond until 2026. https://epaper.dawn.com/Advt.php?StoryImage=18_10_2021_601_003 1 Dawn Business & Finance
13. Inflation everywhere 4.3% In this US, prices leapt by 4.3pc in the year to August, according to the Federal Reserve’s preferred measure a 30-year high, says the Economist. https://epaper.dawn.com/Advt.php?StoryImage=18_10_2021_604_001 4 Dawn Business & Finance
  Editorial News    
14.  Income tax amendment Ordinance issues The fifteen days extended date for filing of Income tax returns has ended on 15th October. https://epaper.brecorder.com/2021/10/18/6-page/904476-news.html 6 Business Recorder
15. Financial troubles  THE PTI administration has found itself left with no option but to go back to the IMF with a request for the resumption of the $6bn loan programme stalled since March.  https://epaper.dawn.com/DetailImage.php?StoryImage=18_10_2021_006_001 6 Dawn

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