IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SATURDAY 1st May, 2021

S.# Description Pg # Source
1. PM wants CPEC to help usher in ISI Prime Minister Imran Khan has emphasised that China-Pakistan Economic Corridor (CPEC) should usher in Import Substitution Industrialisation (ISI) and export-oriented industrialisation, adding that the country’s policies should be framed accordingly. https://epaper.brecorder.com/2021/05/01/1-page/884561-news.html 1 Business Recorder
2. Hungary to provide $84m credit line for B2B cooperation Pakistan and Hungary on Friday agreed to work together to form a strong bilateral economic partnership as the latter announced establishing an exclusive credit-line of $84 million for Hungarian companies to do business with Pakistan, besides a loan facility of $50 million for projects in fisheries and food processing. https://epaper.brecorder.com/2021/05/01/1-page/884555-news.html 1 Business Recorder
3. SPI up 0.05pc WoW The Sensitive Price Indicator (SPI) for the week ended April 29, 2021 recorded an increase of 0.05 percent over the last week due to increase in the prices of food items including bananas (8.67 percent), wheat flour bag (2.29 percent), and potatoes (2.11 percent), says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2021/05/01/1-page/884564-news.html 1 Business Recorder
4. Ministries, divisions No expenditure sans available budget, PAOs warned The Finance Ministry has directed all the ministries and divisions to ensure that no expenditure (employees related or others) is incurred without the available budget and for excess expenditure Principal Accounting Officer (PAO) would be responsible. https://epaper.brecorder.com/2021/05/01/1-page/884568-news.html 1 Business Recorder
5. ‘1m growers to get subsidy of Rs5bn per annum’ Over one million growers registered with the provincial government will get subsidy of around Rs5 billion per annum in a transparent manner through ‘Kissan Cards’ being issued by the Punjab government. https://www.brecorder.com/news/40089383 2 Business Recorder
6. Housing finance applications: SBP asks banks for system to monitor 30-day TAT The State Bank of Pakistan (SBP) has asked banks to devise a system to monitor 30 days Turn Around Time (TAT) for decision on housing finance applications. https://www.brecorder.com/news/40089364 3 Business Recorder
7. KP SPEED Programme $400m loan agreement signed with WB The government of Pakistan Friday signed loan agreement of “Khyber Pakhtunkhwa Spending Effectively for Enhanced Development (SPEED) Programme” worth $400 million with the World Bank. https://epaper.brecorder.com/2021/05/01/7-page/884499-news.html 7 Business Recorder
8. Saindak: federal govt gives profit share to Balochistan Mian Asad Hayaud Din, Federal Secretary of Petroleum Division, in a meeting with chief secretary, Government of Balochistan handed over the cheque for remittance amounting Rs305.00 million to the Government of Balochistan on account of profit share of Saindak Copper-Gold Project executed by Saindak Metal Company Limited during his visit to Quetta. https://epaper.brecorder.com/2021/05/01/8-page/884577-news.html 8 Business Recorder
9. Banking spreads stand at 4.31pc in March The banking sector spreads for March 2021 stood at 4.31 percent, recording a marginal dip over February 2021 of 4.38 percent, taking the first quarter of CY21 average spreads to 4.35 percent as against 5.42 percent in the same period last year and 4.50 percent in the previous quarter. https://epaper.brecorder.com/2021/05/01/8-page/884579-news.html 8 Business Recorder
10. FY22 Budget Tax relief on beverages, cigarettes, tea under study The government is in the process of finalising budget proposals to provide tax benefit/reduction to three products, which are considered not good for health to outright injurious, ie, beverages (sugary drinks), cigarettes, and tea in the coming budget (2021-22). https://epaper.brecorder.com/2021/05/01/8-page/884582-news.html 8 Business Recorder
11. Base price of additional spectrum auction set The government has set base price of $31 million and $29 million for the additional spectrum auction in 1,800 MHz and 2,100 MHz bands respectively, which is likely to be held in June 2021. https://epaper.brecorder.com/2021/05/01/8-page/884578-news.html 8 Business Recorder
12. Spot rate stable despite low volume The sluggish trend remained continued in the local cotton market on Friday. https://epaper.brecorder.com/2021/05/01/12-page/884537-news.html 12 Business Recorder
13. PM announces Rs370bn uplift package for GB Prime Minister Imran Khan on Friday announced a special package worth Rs370 billion for the development of GilgitBaltistan, with focus on electricity and road projects aimed at boosting tourism. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_001_003 1 Dawn
14. Balochistan Assembly forms committee over award of exploration blocks The Balochistan Assembly on Friday set up a special technical committee to find out details of petroleum exploration blocks awarded to state-run oil and gas companies without taking the province into confidence. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_001_005 1 Dawn
15. Oil prices remain unchanged The government keeps the prices of all petroleum products unchanged for the next 15 days by reducing tax rates. https://epaper.dawn.com/Advt.php?StoryImage=01_05_2021_001_008 1 Dawn
16. Need stressed to expedite divestment of SOEs A sub-committee of the Economic Advisory Council (EAC) on state-owned entities (SOEs) on Friday called for expediting the process of privatisation and empowering their board of directors at the earliest to improve their management structures. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_009_007 9 Dawn
17. Pakistan may delay power tariff increase Pakistan on Friday formally pitched a proposal to the World Bank for staggering power tariff increases in view of a third and more contagious and deadlier wave of Covid-19 pandemic that may force the government into smart lockdowns and hit an already struggling economy. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_009_002 9 Dawn
18. Uptick in weekly inflation Inflation based on Sensitive Price Index for the combined consumption group for the week ended on April 29 witnessed a nominal increase of 0.05 per cent as compared to the previous week. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_009_005 9 Dawn
19. First shipment under TIR convention for Uzbekistan leaves After a delay of 30 months, the first-ever shipment under the Convention on the International Transport of Goods for traffic-intransit of goods across the border has left for Uzbekistan from Pakistan via the Torkham border customs station. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_009_004 9 Dawn
20. Govt committed to facilitating value-added textile sector Finance Minister Shaukat Tarin on Friday reiterated the commitment of the government to facilitate the textile sector for enhancing value-added exports. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_009_003 9 Dawn
21. FBR surpasses revenue collection target by Rs34bn in April The Federal Board of Revenue (FBR) surpassed its revenue collection target by Rs34 billion to Rs384bn in April, the second highest collection in the second half of current fiscal year (FY21), provisional data collected by the tax authorities on Friday showed. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_012_001 12 Dawn
  International News    
22. EU Parliament move to review trade ties with Pakistan The European Parliament this week adopted a resolution calling for a review of trade relations with Pakistan and ending its eligibility for the Generalised Scheme of Preferences (GSP) status. https://epaper.dawn.com/DetailImage.php?StoryImage=01_05_2021_001_002 1 Dawn
  Editorial News    
23. Inflation time bomb ticks away That the gap between actual prices of essential food items and rates fixed by district administrations has begun widening abnormally in Punjab, just like Balochistan and Sindh, is bad news for the people of the province but also very bad news for the Pakistan Tehreek-e-Insaf (PTI) government. https://epaper.brecorder.com/2021/05/01/6-page/884570-news.html 6 Business Recorder
24. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   153.75 214.46 186.32 23.92 41. 03
9   Business Recorder

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