IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SATURDAY 16th OCTOBER, 2021

S.# Description Pg. # Source
1. PM’s step gives voice to small farmers’ woes Prime Minister Imran Khan on Friday launched “Kisan Portal” (a portal for farmers) to address their grievances and problems, saying that his government wanted to increase productivity to deal with the pressure on exchange rate and “imported inflation”. https://epaper.brecorder.com/2021/10/16/1-page/904247-news.html 1 Business Recorder
2. LSMI output up by 7.26pc in 2 months The Large Scale Manufacturing Industries (LSMI) output increased by 7.26 percent in the first two months (July-August) of current fiscal year 2021-22 compared to the same period of last fiscal year i.e. 2021, as almost all of the major manufacturing sectors posted growth, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. https://epaper.brecorder.com/2021/10/16/1-page/904248-news.html 1 Business Recorder
3. Textile group exports witness 27.41pc growth in Q1 The country’s textile group exports witnessed 27.41 percent growth during the first quarter (July-September) of current fiscal year and remained $4.420 billion compared to $3.469 billion during the same period of the last fiscal year, says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2021/10/16/1-page/904249-news.html 1 Business Recorder
4. SPI up 0.20pc WoW The Sensitive Price Indicator (SPI) for the week ended October 14, 2021 recorded an increase of 0.20 percent due to increase in the prices of food items including tomatoes (19.21 percent), mustard oil (3.12 percent), tea prepared (2.12 percent), cooked daal (1.55 percent), tea Lipton (1.48 percent), and cooked beef (1.32 percent), and non-food items including LPG (2.07 percent) and washing soap (1.98 percent), says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2021/10/16/1-page/904250-news.html 1 Business Recorder
5. Moratorium on gas schemes imposed Rs1.39/unit raise in power base tariff announced
 The Federal Government on Friday announced to increase electricity base tariff by Rs 1.39 per unit across the country including KE from November 1, 2021 and impose moratorium on ongoing and new gas schemes for domestic consumers till finalisation of new gas pricing mechanism. https://epaper.brecorder.com/2021/10/16/1-page/904243-news.html
1 Business Recorder
6. THE RUPEE: PKR: losing streak ends Pakistan’s rupee broke a four-day losing streak against the US dollar, appreciating by a marginal two paisas in the inter-bank market on Friday. https://epaper.brecorder.com/2021/10/16/1-page/904256-news.html 1 Business Recorder
7. PD estimates reduction of net subsidy by 30pc Power Division has estimated a reduction of net subsidy by 30 percent to Rs 168 billion from Rs 240 billion, after notification of increase of Rs 1.39 per unit in base tariff of Discos and KE. https://epaper.brecorder.com/2021/10/16/1-page/904244-news.html 1 Business Recorder
8. Cases registered against owners of three sugar mills The Punjab government on Friday initiated stern action against the sugar mills for committing violations of law and registered cases against the owners and management of three mills including Chinar Sugar Mills Faisalabad, Shakar Ganj Sugar Mills Jhang and Pasrur Sugar Mills Gujranwala. https://epaper.brecorder.com/2021/10/16/1-page/904252-news.html 1 Business Recorder
9. PSX ends on positive note BRIndex100 on green trajectory
Pakistan Stock Exchange witnessed bullish trend on second consecutive day and closed on positive note on Friday on the back of continuous buying mainly by local investors in almost all sectors.  https://epaper.brecorder.com/2021/10/16/1-page/904255-news.html
1 Business Recorder
10. Punjab to make digitized land record system operational at 14 missions The Punjab government is set to make the digitized land record system operational at 14 missions of four countries to facilitate expatriates for online transfer of properties, said Senior Member Board of Revenue (SMBR) Babar Hayat Tarar. https://www.brecorder.com/news/40127158 2 Business Recorder
11. Textile sector leading economic recovery In recent times, the textile industry has made notable progress and yielded spectacular results, particularly following a sharp rise in investment from industrialists.  https://epaper.brecorder.com/2021/10/16/5-page/904282-news.html 5 Business Recorder
12. Import of edible oils Ghee industry seeks reduction in taxes
The ghee and cooking industry has informed the Finance Ministry that India has slashed duties on import of RBD Palm Oil and Olein by 16.50 percent and soybean oil and sunflower oil by 19.25 percent from October 14, 2021 against Pakistan, where duty/taxes on import value of these items is over 29 percent. https://epaper.brecorder.com/2021/10/16/5-page/904283-news.html
5 Business Recorder
13. FBR receives record 2.6m tax returns with Rs48.6bn deposits The Federal Board of Revenue (FBR) has received a staggering number of 2.6 million returns and collected Rs48.6 billion tax with returns as against 1.8 million returns and 29.6 billion tax paid with returns on 8th December, 2020. https://epaper.brecorder.com/2021/10/16/8-page/904301-news.html   8 Business Recorder
14. Stable trend on cotton market The local cotton market on Friday remained bullish and trading volume remained satisfactory. https://epaper.brecorder.com/2021/10/16/12-page/904318-news.html 12 Business Recorder
15. LSM surges by 12.74pc in August The upward trend for industrial output continued for the second consecutive month of the current fiscal year, with Large-Scale Manufacturing (LSM) posting a growth of 12.74 per cent in August, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. https://epaper.dawn.com/DetailImage.php?StoryImage=16_10_2021_009_005 9 Dawn
  International News    
16. Hungry for fuel, China looks to the US, Europe eyes relief plans China’s energy crisis deepened on Friday with coal prices hitting a record high as cold weather sweeps in and soaring gas prices prompting major energy companies to seek long-term deals with US suppliers, sources told Reuters. https://epaper.brecorder.com/2021/10/16/7-page/904297-news.html 7 Business Recorder
17. Gold extends slide on US retail sales surprise, higher yields Gold prices fell on Friday as a rebound in U.S. bond yields and a surprise increase in September retail sales dented bullion’s safe-haven status. https://epaper.brecorder.com/2021/10/16/9-page/904312-news.html 9 Business Recorder
18. Oil prices scale $85/bbl on back of supply deficit Oil prices jumped to a three-year high above $85 a barrel on Friday, on forecasts of a supply deficit over the next few months, spurred by rising demand due to the easing of travel restrictions. https://epaper.brecorder.com/2021/10/16/9-page/904314-news.html 9 Business Recorder
19. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   171.20 234.30 199.08 26.90 45.70
9 Business Recorder

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