IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY7th June, 2021

S.# Description Pg. # Source
1. Export promotion scheme FBR for allowing 30pc local sales The Federal Board of Revenue (FBR) has proposed to allow local sales of 30 percent of the finished products required to be exported after procuring duties and taxes free inputs under the unified export promotion scheme. https://epaper.brecorder.com/2021/06/07/1-page/888810-news.html 1 Business Recorder
2. PSX witnesses bullish trend BRIndex100 gains 163.19 points Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on June 04, on the back of healthy buying mainly by local investors and institutions. https://epaper.brecorder.com/2021/06/07/1-page/888812-news.html 1 Business Recorder
3. Futures spread increases by 175bps The futures spread increased by 175bps to 10.73 percent on the last day of outgoing week. https://epaper.brecorder.com/2021/06/07/1-page/888813-news.html 1 Business Recorder
4. Govt decides to postpone NGMS spectrum auction The government has decided in principle to postpone the auction of next generation mobile services (NGMS) spectrum in Pakistan, Azad Jammu and Kashmir (AJ&K), and Gilgit-Baltistan (GB) till the next fiscal year, it is learnt. https://epaper.brecorder.com/2021/06/07/1-page/888816-news.html 1 Business Recorder
5. CDNS gets fresh deposit of Rs700bn in 11 months The Central Directorate of National Savings (CDNS) has received a fresh deposit of Rs700 billion in the last 11 months from July 1 to May 31, in the current fiscal year 2020-21. https://epaper.brecorder.com/2021/06/07/2-page/888822-news.html 2 Business Recorder
6. Budget FY22 ‘Widening of tax base, incentives for industry can lift GDP’ The economic managers, in the upcoming federal budget 2021-22, should incentivize investors, broaden tax net through documentation of economy, simplify tax system and take solid step to reform the FBR. https://epaper.brecorder.com/2021/06/07/2-page/888828-news.html 2 Business Recorder
7. Pakistan Steel Mills Sell-off process hangs in balance The privatization process of Pakistan Steel Mills (PSM) is reportedly hanging in the balance due to “controversial” valuation of its assets by two firms and now a third valuation is expected to be conducted, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/06/07/6-page/888854-news.html 5 Business Recorder
8. Refund from CTO Lahore LHC stops FBR from passing order against taxpayer Lahore High Court (LHC) has stopped the Federal Board of Revenue (FBR) from passing an order against a taxpayer seeking refund from Corporate Tax Office (CTO) Lahore and issued notices to top FBR officials. https://epaper.brecorder.com/2021/06/07/6-page/888855-news.html 5 Business Recorder
9. Weekly Cotton Review Rate touches highest level in 11 years The rate of cotton in the local cotton market touched the highest level in 11 years at Rs 14000 per maund amid an overall bullish trend. https://epaper.brecorder.com/2021/06/07/5-page/888842-news.html 6 Business Recorder
10. Cotton sowing registers significant increase in South Punjab The sowing of cotton has registered a significant increase this year in South Punjab as compared to last year due to the incentives of Punjab government, said an official of Punjab Agriculture Department. https://epaper.brecorder.com/2021/06/07/11-page/888896-news.html 11 Business Recorder
11. Mixed trend in prices of essential items witnessed A mixed trend in prices of important kitchen items was witnessed in the retail market, according to a survey carried out by Business Recorder here on Sunday. https://epaper.brecorder.com/2021/06/07/11-page/888898-news.html 11 Business Recorder
12. Incentives planned for farmers to grow more cotton Govern-ment has planned a scheme of incentives to encourage farmers to grow more cotton to increase the exports and save precious foreign exchange for national kitty. https://epaper.brecorder.com/2021/06/07/11-page/888897-news.html 11 Business Recorder
13. Oily slope All the international commodities are having a bull run. Oil is no exception and is the most critical commodity especially for oil importing countries like Pakistan. https://epaper.brecorder.com/2021/06/07/13-page/888902-news.html 13 Business Recorder
14. Sugar: learning from the past On November 24, 2020, the then federal minister for Industries & Production declared victory against sugar price spiral. https://epaper.brecorder.com/2021/06/07/13-page/888903-news.html 13 Business Recorder
15. Growth perceptions Why businesses are happy but consumers are not? Do businesses and consumers care about different things? Is the government only focusing on making businesses happy and not consumers? When the pandemic hit, both business confidence and consumer confidence hit new lows but since then, whereas businesses have become more and more optimistic, consumers remain below the neutrality level of 50. https://epaper.brecorder.com/2021/06/07/13-page/888905-news.html 13 Business Recorder
16. NF C`s way forward SINCE his appointment as > finance minister, Shaukat Tarin has on multiple occasions expressed his views on what many refer to as implications of the 7th National Finance Commission (NFC) award for federal finances.  https://epaper.dawn.com/DetailImage.php?StoryImage=07_06_2021_601_005 1 Dawn Business & Finance
17. The Week In a rate move, the National Electric Power Regulatory Authority says it would allow only 43 paisa per unit reduction in electricity rates about half of 86 paisa suggested by the power companies under monthly fuel cost adjustment for consumption in April.   https://epaper.dawn.com/Advt.php?StoryImage=07_06_2021_601_003 1 Dawn Business & Finance
18. On the cusp of expansion WHEN Finance Minister Shaukat > Tarin presents the PTI`s third fullyear budget on June 11 in the National Assembly, it will be interesting to see him change gear from strangulating stabilization to economic growth that he has been advocating in the past two months. https://epaper.dawn.com/DetailImage.php?StoryImage=07_06_2021_601_004 1 Dawn Business & Finance
19. Lost jobs, vanished livelihoods RANKS of the jobless in Pakistan > swelled during the Covid-19induced lockdowns. Indicators suggest that many millions are still out of work despite 3.9 per cent GDP growth. https://epaper.dawn.com/DetailImage.php?StoryImage=07_06_2021_601_006 1 Dawn Business & Finance
20. Evolving sustainable growth model With the ministries of finance and planning on the same page, the production sectors are expected to be placed at the centre of the forthcoming federal budget growth strategy in a bid to put the economy on a sound footing. https://epaper.dawn.com/DetailImage.php?StoryImage=07_06_2021_603_004 3 Dawn Business & Finance
  Editorial News    
21. Unwinding the stimulus The State Bank of Pakistan (SBP) Governor Dr Reza Baqir commented in a recent interview to a foreign publication that one of the two factors for higher-than-expected GDP growth in FY21 is the aggressive monetary stimulus provided by the Pakistan’s central bank which is equivalent to 5 percent of GDP and largely reliant on quantitative measures. https://epaper.brecorder.com/2021/06/07/10-page/888889-news.html 10 Business Recorder

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