IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SATURDAY 20th NOVEMBER, 2021

S.# Description Pg. # Source
1. Withdrawal of Rs330bn GST exemptions Three critical issues yet to be decided
The issue of imposition of 17 percent sales tax on mobile phone, stationary items/writing instruments and certain packaged food items is pending before the government for withdrawal of Rs330 billion sales tax exemptions under the draft Tax Laws (Amendment) Bill 2021. https://epaper.brecorder.com/2021/11/20/1-page/908326-news.html
1 Business Recorder
2. SBP hikes rate by 150bps to 8.75pc on inflation, BoP The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) Friday announced increase in key policy rate by 150 basis points to 8.75 percent to mitigate the risks related to inflation and external account. https://epaper.brecorder.com/2021/11/20/1-page/908327-news.html 1 Business Recorder
3. 4MFY22 YoY C/A posts $5bn deficit on higher import bill
The country’s current account continued to deteriorate and posted over $ 5 billion deficit during the first four months of current fiscal year (FY22), mainly due to higher import bill. https://epaper.brecorder.com/2021/11/20/1-page/908334-news.html
1 Business Recorder
4. Monetary policy to be reviewed 8 times a year The State Bank of Pakistan (SBP) has decided to increase the number of Monetary Policy Committee (MPC) meetings from six to eight times a year in line with international best practices. https://epaper.brecorder.com/2021/11/20/1-page/908328-news.html 1 Business Recorder
5. SPI up 1.07pc WoW The Sensitive Price Indicator (SPI) for the week ended November 18, 2021 recorded significant increase of 1.07 percent due to increase in the prices of chicken (8.26 percent), cooking oil (4.72 percent), bananas (4.18 percent), washing soap (3.94 percent), vegetable ghee (3.15 percent), rice Irri (1.76 percent), moong (1.62 percent), eggs (1.52 percent), and firewood (1.24 percent), says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2021/11/20/1-page/908329-news.html 1 Business Recorder
6. THE RUPEE: PKR declines further Pakistan’s rupee weakened further against the US dollar on Friday, as the currency depreciated 0.33% to close above the 175 level in the inter-bank market. https://epaper.brecorder.com/2021/11/20/1-page/908336-news.html 1 Business Recorder
7. Low-income group 100,000 housing units being constructed: PM
Prime Minister Imran Khan said that 0.1 million housing units are being constructed for low-income group and banks have received 61,000 applications for loans of Rs226 billion. https://epaper.brecorder.com/2021/11/20/1-page/908330-news.html
1 Business Recorder
8. IGCEP 2021-30 New plan based on serve power demand, not computed demand
The newly-approved Indicative Generation Capacity Expansion Plan (IGCEP) 2021-30 will be based on serve power demand instead of traditional mechanism of computed demand. https://epaper.brecorder.com/2021/11/20/1-page/908331-news.html
1 Business Recorder
9. Customs stations of KP, Baluchistan FTO directs FBR to stop examining cleared fruit vehicles
The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) that the vehicles carrying imported fresh/dry fruits cleared from Customs stations of the Khyber Pakhtunkhwa and Baluchistan shall not be checked at any Customs check posts or Customs mobile squads. https://epaper.brecorder.com/2021/11/20/1-page/908335-news.html
1 Business Recorder
10. Stock market roars back Pakistan Stock Exchange Friday witnessed a bullish trend and closed on strong positive note with healthy gains on the back of fresh buying on available attractive low levels, mainly by local investors. https://epaper.brecorder.com/2021/11/20/1-page/908332-news.html 1 Business Recorder
11. Met dept asked to start making ‘smog forecast’ The Punjab government has directed the meteorological department to start forecasting smog level in the province on the basis of data shared by the Environment Protection Agency, said sources. https://www.brecorder.com/news/40134639 2 Business Recorder
12. Exertion of pressure on transfers, postings FBR decides to punish tax officials
The Federal Board of Revenue (FBR) has decided to punish tax officials, who are putting political/external pressures on the top FBR management for their posting/transfers/deputations and other service matters. https://epaper.brecorder.com/2021/11/20/5-page/908360-news.html
5 Business Recorder
13. FIA probe against OMCs Petroleum sector needs positive signals: Hammad
Minister for Energy, Hammad Azhar has raised his voice for the under-stress petroleum sector, saying the sector needs confidence and positive signals, well-informed sources told Business Recorder. https://epaper.brecorder.com/2021/11/20/5-page/908362-news.html
5 Business Recorder
14. Number of 3G, 4G users reaches 105.73m by Oct: PTA The number of 3G and 4G users in Pakistan reached 105.73 million by end-October 2021 compared to 104.71 million by end-September 2021, registering an increase of 1.016 million, revealed the Pakistan Telecommunication Authority (PTA) data. https://epaper.brecorder.com/2021/11/20/5-page/908363-news.html 5 Business Recorder
15. Jul 2018-Jun 2021 Total public debt up by Rs14.9trn, Tarin tells NA
Federal Minister for Finance and Revenue Shaukat Tarin on Friday informed the National Assembly that total public debt increased by Rs14.9 trillion during July 2018-June 2021. https://epaper.brecorder.com/2021/11/20/8-page/908376-news.html
8 Business Recorder
16. Compulsory certification mark scheme of PSQCA Govt includes electric fan standards
The Federal Government has included electric fan standards in the compulsory certification mark scheme of Pakistan Standards and Quality Control Authority (PSQCA). https://epaper.brecorder.com/2021/11/20/8-page/908374-news.html
8 Business Recorder
17. Cotton prices pick up Rs 200 at Rs 17500 per maund The Spot Rate Committee of the Karachi Cotton Association on Friday increased the spot rate by Rs 200 at Rs 17500 per maund. https://epaper.brecorder.com/2021/11/20/12-page/908390-news.html 12 Business Recorder
18. Weekly inflation sees sixth consecutive increase Inflation measured through the Sensitive Price Index (SPI) posted an increase of 1.07 per cent for the week ended on November 18 driven by a sharp rise in the prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. https://epaper.dawn.com/DetailImage.php?StoryImage=20_11_2021_009_009 9 Dawn
19. Punjab faces fertiliser shortage, centre told Minister for National Food Security and Research Syed Fakhr Imam on Friday presided over a meeting of provincial counterparts to monitor the ongoing sowing of wheat in the country. https://epaper.dawn.com/DetailImage.php?StoryImage=20_11_2021_009_003 9 Dawn
20. Egypt to import meat from Pakistan Egypt has approved 10 slaughter houses of Pakistani companies for import of meat. https://epaper.dawn.com/DetailImage.php?StoryImage=20_11_2021_009_005 9 Dawn
21. Underutilised cement plants likely to pay more tax The government plans to impose a higher tax rate on underutilised cement plants, according to Muzzammil Aslam, spokesperson for the Ministry of Finance. https://epaper.dawn.com/DetailImage.php?StoryImage=20_11_2021_009_006 9 Dawn
  Editorial News    
22.  Incentivising SMEs The government has no doubt put a lot of thought into the Small and Medium Enterprises (SMEs) Policy 2021-25, which includes big incentives for both men and women entrepreneurs, especially generous tax reductions, and rules out regressive audits (considering their size and scope) and also harassment.  https://epaper.brecorder.com/2021/11/20/4-page/908352-news.html 4 Business Recorder
23. Is CPEC last chance for industrialisation? The statement “the China Pakistan Economic Corridor (CPEC) is Pakistan’s last chance for industrialisation” published last week in the print media is a statement that merits a fair analysis of ground realities.  https://epaper.brecorder.com/2021/11/20/4-page/908354-news.html   4 Business Recorder
24. Pakistan remains at the bottom of the cigarette tax scorecard Pakistan has scored 1.13 points out of 5 on the cigarette tax scorecard, standing at 131st position among 160 countries, which is a manifestation of a lax tax policy towards the tobacco sector. https://epaper.brecorder.com/2021/11/20/4-page/908355-news.html 4 Business Recorder
25. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   176.50 236.00 198.00 27.00 46.90
9 Business Recorder

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