IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 2nd JANUARY, 2023

S.# Description Pg. # Source
1. PKR registers losses The rupee registered losses throughout the previous week, ending with cumulative depreciation of 0.35% against the US dollar in the inter-bank market. https://epaper.brecorder.com/2023/01/02/1-page/951342-news.html 1 Business Recorder
2. WB urged to help restructure FIIP The government has requested the World Bank (WB) for restructuring “Pakistan Financial Inclusion and Infrastructure Project” to complete the national payment system activities and reallocation of un-disbursed funds. https://epaper.brecorder.com/2023/01/02/1-page/951344-news.html 1 Business Recorder
3. KTBA not happy as FBR issues audit notices to taxpayers Federal Board of Revenue (FBR) has started issuing audit notices under section 177 of the Income Tax Ordinance 2001 to overcome the ever-increasing revenue shortfall of around Rs. 245 billion till the end of the first half of the current fiscal year. https://epaper.brecorder.com/2023/01/02/1-page/951348-news.html 1 Business Recorder
4. Stocks witness positive trend Pakistan Stock Exchange witnessed positive trend during the last week of the year ended on December 30, 2022 on the back of aggressive buying in almost all sectors. https://epaper.brecorder.com/2023/01/02/1-page/951349-news.html 1 Business Recorder
5. Futures spread down 880bps The futures spread declined by 880bps to 3.67 percent on the last day of the outgoing week. https://epaper.brecorder.com/2023/01/02/1-page/951350-news.html 1 Business Recorder
6. KTCL largest taxpayer firm of KP, show FBR data The Federal Board of Revenue (FBR) data revealed that the Khyber Tobacco Company Limited (KTCL) is the largest tax contributing company from the Khyber Pakhtunkhwa (KP) province and is the only national cigarette manufacturer to implement electronic ‘Track and Trace’ system. https://epaper.brecorder.com/2023/01/02/3-page/951366-news.html 3 Business Recorder
7. KP govt has established 9 economic zones in four years: CM Chief Minister Mahmood Khan has said that the provincial government during last four years established nine new economic zones and revived 167 sick industrial units. https://epaper.brecorder.com/2023/01/02/4-page/951375-news.html 4 Business Recorder
8. Footwear industry can increase exports to $5bn by 2027: PFMA Pakistan’s footwear industry is in a position to increase its exports to $5 billion by 2027, said Pakistan Footwear Manufacturers Association (PFMA) Chairman Mansoor Ehsan. https://epaper.brecorder.com/2023/01/02/4-page/951382-news.html 4 Business Recorder
9. Carpet industry’s issues to be resolved: SBP State Bank of Pakistan (SBP) has assured that carpet industry’s issues will be resolved at the earliest. https://epaper.brecorder.com/2023/01/02/4-page/951383-news.html 4 Business Recorder
10. Weekly Cotton Review Spot rate increased after signs of improvement emerge Signs of improvement were seen in the local cotton market during previous week. https://epaper.brecorder.com/2023/01/02/5-page/951391-news.html 5 Business Recorder
11. Survey reveals steep hike in prices of key food items There has been a steep increase in prices of live chicken/ meat, flour, sugar, and some other daily-use items in the local market, a survey carried out by Business Recorder on Sunday has revealed. https://epaper.brecorder.com/2023/01/02/7-page/951405-news.html 7 Business Recorder
12. SMEDA formulates proposals for improving business ecosystem in Peshawar Small and Medium Enterprises Development Authority (SMEDA) launched recommendations for improving business ecosystem in the provincial capital of Khyber Pakhtunkhwa. https://epaper.brecorder.com/2023/01/02/7-page/951406-news.html 7 Business Recorder
13. The fallacy of ‘relief’ Almost all the governments in Pakistan throughout history– be it a democratic or an authoritative regime—have attempted to provide ‘relief’ to the masses in the form of blanket subsidies on energy and commodities. https://epaper.brecorder.com/2023/01/02/13-page/951459-news.html 13 Business Recorder
14. 2022 and oil – a turbulent affair The volatility seen in oil prices in 2022 was phenomenal. https://epaper.brecorder.com/2023/01/02/13-page/951460-news.html 13 Business Recorder
15. Seminar on e-commerce held to guide tribal youth Under the auspices of Directorate of Youth Affairs and District Youth Officer Peshawar, a one-day commerce seminar was organized at Nishtar Hall Peshawar to guide the youth of the tribal areas. https://epaper.brecorder.com/2023/01/02/13-page/951465-news.html 13 Business Recorder
16. Analysis of purchasing power erosion during CY22 Inflation, price hike set daily wagers’ purchasing power back several years CY2022 has not been an easy year on Pakistanis. Inflation averaged above 20 percent during the calendar year, despite the much-reviledfreeze on energy prices during the first part of the year. https://epaper.brecorder.com/2023/01/02/16-page/951478-news.html 16 Business Recorder
17. Rising energy prices major impediment to growth: Nisar The year 2022 remained very tough and challenging for the country’s economy on many fronts, as the consistent depreciation of the rupee continued to deepen the economic crisis, suggesting the government to consult with the business community to find a direction towards better economic solutions. https://epaper.brecorder.com/2023/01/02/16-page/951479-news.html 16 Business Recorder
18. Govt to borrow record Rs4.8tr via treasury bills in first quarter Amid a revenue setback in December and higher expenditure, mostly for debt servicing, the government plans to borrow a record Rs4.8 trillion in the first three months of 2023 through market treasury bills (MTBs). https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_003_005 3 Dawn
19. Most CAREC nations have fractured food safety control systems: report Most countries in the Central Asia Regional Economic Cooperation (CAREC) programme, which includes Pakistan, have fractured food safety control systems that exhibit limited cooperation among the local and international agencies, and as a result, consumers are likely to face food safety risks. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_003_009 3 Dawn
20. An uncertain PSX Returns in the stock market have either barely beat inflation or been outright negative for six consecutive years. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_601_005 1 Dawn Business & Finance
21. `Controlled` economic deterioration AS Pakistan heads into the new year with the economy teetering on the brink, Dawn spoke with Dr Ayesha Ghaus-Pasha, the state minister for finance. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_601_004 1 Dawn Business & Finance
22. Anticipating a`normal` Kharif season Wheat crop’s per acre yields may face challenges in 2023. Wheat is a major Rabi crop and its sowing usually ends by November. Yet it was still being sown till the end of December, which may impact its yields. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_602_003 2 Dawn Business & Finance
23. Another energy-tough year in the wings Concluding a tough year (2022) in terms of record energy prices, the people of Pakistan are unlikely to see any noticeable relief over the next 12 months, except maybe some election-related tinkering with pricing that would, at best, be short-lived. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_603_001 3 Dawn Business & Finance
24. A rough ride ahead Nothing less than a miracle would dramatically change the manufacturing sector’s fortunes in the current election year after the challenging 2022 that saw temporary closures, deferments of expansion plans and scaling down of production by multiple businesses. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_603_002 3 Dawn Business & Finance
25. Inclusivity goals for the future EVEN with the enhanced and widening social security programmes, coupled with increased financial allocations for UN Sustainable Development Goals projects proposed by parliamentarians for their electoral constituencies, the future of citizens cannot be delinked from the sliding economic growth. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_603_003 3 Dawn Business & Finance
26. Changing times for tech GOOD things come to those who wait and for Pakistan`s tech ecosystem, the wait finally seemed to be over in 2021. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_604_001 4 Dawn Business & Finance
27. A future for petro-yuans? Since the deal between Saudi Arabia and the United States in the early 70s, making the US dollar the currency of global oil trade, the US dollar has remained the world’s dominant currency, carrying major implications. https://epaper.dawn.com/DetailImage.php?StoryImage=02_01_2023_604_004 4 Dawn Business & Finance
  Editorial News    
28. Circular debt challenge The power sector circular debt has crossed the Rs 2.5 billion mark and is growing. https://epaper.brecorder.com/2023/01/02/6-page/951395-news.html 6 Dawn
29. All is far from well The state of the economy today should be a source of serious concern to the eleven-party coalition government in power less than nine months – not because inflation is unchecked, not because unemployment is rising, not because the government does not have the fiscal space to carry out the needed relief and rehabilitation required by the 33 million flood affected victims, many reportedly still living roadside, but because of flawed policies that the country can no longer afford. https://epaper.brecorder.com/2023/01/02/6-page/951397-news.html 6 Dawn
30. Reluctant retailers Good luck to the Senate standing committee on finance as it tries to drag two million reluctant retailers into the tax net, a sector notorious for its novel ways of evading as well as avoiding tax. https://epaper.brecorder.com/2023/01/02/6-page/951396-news.html 6 Dawn

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