IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SATURDAY 8th JANUARY, 2022

S.# Description Pg. # Source
1. 6th Review of $6bn EFF IMF board to take disbursement decision only after passage of bills
The International Monetary Fund (IMF) has removed Pakistan’s agenda from the Executive Board calendar soon after it announced to take Sixth Review of the $6 billion Extended Fund Facility (EFF) in its meeting scheduled for January 12. https://epaper.brecorder.com/2022/01/08/1-page/914390-news.html
1 Business Recorder
2. SBP Amendment Act NAB, FIA to have powers to probe SBP officials?
 The National Accountability Bureau and the Federal Investigation Agency will have full powers to investigate SBP officials for criminal or corruption-related matters under the proposed State Bank of Pakistan (SBP) Amendment Act 2021, however, indemnity is being proposed for actions taken in good faith, so that officials are not afraid to take actions. https://epaper.brecorder.com/2022/01/08/1-page/914391-news.html
1 Business Recorder
3. Country maintaining growth trajectory: Dawood The Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood has said Pakistan’s economy has made significant progress reflecting a blend of stabilisation and structural reforms despite, being challenged at economic and geopolitical fronts and is moving on a positive growth trajectory. https://epaper.brecorder.com/2022/01/08/1-page/914392-news.html 1 Business Recorder
4. Rs343bn levy ‘negotiated’ FPCCI questions IMF’s conditionality
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Friday said that there exists complete confusion as to what exactly was condition/demand of the International Monetary Fund (IMF) for which the Federal Board of Revenue (FBR) negotiated the levy of taxation of Rs343 billion for all the sectors of economy including agriculture, industry and services. https://epaper.brecorder.com/2022/01/08/1-page/914393-news.html
1 Business Recorder
5. Revised Circular Debt Management Plan Additional financial cost surcharge for payment of markup proposed
Rejecting the “unrealistic” financial assumptions used by the Power Division in preparation of revised Circular Debt Management Plan (CDMP), Finance Ministry has proposed imposition of additional financial cost surcharge for payment of markup, well informed sources in Finance Ministry told Business Recorder. https://epaper.brecorder.com/2022/01/08/1-page/914382-news.html
1 Business Recorder
6. Banks, accountholders SBP extends Covid-19 relaxations till June 30th
Considering the ongoing impact of Covid-19 pandemic, the State Bank of Pakistan (SBP) has decided to further extend the validity of some regulatory relaxations provided to banks and accountholders till June 30, 2022. https://epaper.brecorder.com/2022/01/08/1-page/914384-news.html
1 Business Recorder
7. No action of NCOC can be challenged at any forum: SAPM Special Assistant to the Prime Minister (SAPM) on Health Dr Faisal Sultan has said that no action and decision of the National Command and Operation Centre (NCOC) can be challenged at any forum including high courts and the Supreme Court of Pakistan. https://epaper.brecorder.com/2022/01/08/1-page/914385-news.html 1 Business Recorder
8. National ST Return launched Tarin issues warning: taxes must be paid to avoid legal action
Finance Minister Shaukat Tarin Friday requested the entire nation that the non-filers and those liable to pay taxes should “immediately start paying their due share before we approach them in the coming days, backed by authentic data,” to avoid legal action under the law. https://epaper.brecorder.com/2022/01/08/1-page/914394-news.html
1 Business Recorder
9. THE RUPEE: Rupee story dated 7/01/21 ftp to EE Pakistan’s rupee appreciated 0.14% against the US dollar in the inter-bank market on Friday. https://epaper.brecorder.com/2022/01/08/1-page/914395-news.html 1 Business Recorder
10. No stress on prices of urea Rs400bn subsidy provided to agri sector: minister
Federal Minister for Industries and Production Khusro Bakhtyar Friday said the government had provided Rs 400 billion subsidy for the development of agriculture sector and ensured uninterrupted gas supply to the fertilizer industry to help promote agriculture production in the country. https://epaper.brecorder.com/2022/01/08/1-page/914386-news.html
1 Business Recorder
11. PSX turns bullish After negative opening, Pakistan Stock Exchange Friday turned bullish and closed on strong positive note as investors became optimistic about IMF’s Executive Board meeting on January 12 and took fresh positions in various sectors. https://epaper.brecorder.com/2022/01/08/1-page/914389-news.html 1 Business Recorder
12. PSMA rejects claim of cane commissioner The Pakistan Sugar Mills Association (PSMA) rejected the claim by the cane commissioner that supply of sugarcane to sugar mills is smooth, and claimed that at least 14 sugar mills in the province have been closed because of non-availability of sugarcane. https://www.brecorder.com/news/40145589 2 Business Recorder
13. FPCCI chief explains how Pakistan-Oman trade can be increased Mian Nasser Hyatt Maggo, President FPCCI, has welcomed the visit of a high-profile trade delegation of Oman, led by Engr Redha Al-Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI); along with Pakistan’s Ambassador to the Sultanate of Oman, K K Ahsan Wagan. https://epaper.brecorder.com/2022/01/08/3-page/914408-news.html 3 Business Recorder
14. Tarin delineates major contributors to widening CAD During first quarter of the current fiscal year, the current account recorded a deficit of $ 3.4 billion compared to a surplus of $ 865 million witnessed in the same period in the last financial year. https://epaper.brecorder.com/2022/01/08/8-page/914446-news.html 8 Business Recorder
15. SPI up 0.08pc WoW The Sensitive Price Indicator (SPI) for the week ended January 6, 2022 recorded an increase of 0.08 percent due to increase in the prices of food items including potatoes (5.23 percent), chicken (4.45 percent), bananas (2.56 percent), onions (2.12 percent), masoor (1.55 percent), and non-food items, diesel and salt (2.75 percent) each and petrol (2.68 percent), says the Pakistan Bureau of Statistics (PBS).  https://epaper.brecorder.com/2022/01/08/8-page/914443-news.html 8 Business Recorder
16. Business volume improves on cotton market The Spot Rate remained unchanged. https://epaper.brecorder.com/2022/01/08/12-page/914460-news.html 12 Business Recorder
17. Urea being smuggled to Afghanistan from Sindh, says Khusro Federal Minister for Industries and Production Khusro Bakhtyar on Friday said urea was being smuggled to Afghanistan from Sindh and the PPP government was not sharing the data to help trace the movement of urea trucks. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2022_009_003 9 Dawn
18. Banks attract record Rs3.88tr deposits in 2021 Banks recorded the 10-year`s highest deposit growth of 22.7 per cent in the calendar year 2021 mainly due to higher remittances, export proceeds and a sharp depreciation of the rupee. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2022_009_006 9 Dawn
19. Senate panel okays 17pc sales tax on imported machinery for EPZs The Senate Standing Committee on Finance, Revenue and Economic Affairs on Friday approved 17 per cent sales tax on the import of machinery and equipment to be utilised in the Export Processing Zones (EPZs). https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2022_009_008 9 Dawn
20. $3.16bn received through Roshan Digital Accounts The country received over $3 billion through the Roshan Digital Accounts (RDA) till the end of December 2021, the State Bank of Pakistan (SBP) reported on Friday. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2022_009_009 9 Dawn
21. Sharp increase in food prices pushes inflation up Inflation measured through the Sensitive Price Index (SPI) posted an increase of 0.08 per cent for the week ended on January 6 driven by a sharp increase in the prices of essential food and nonfood items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2022_009_004 9 Dawn
  Editorial News    
22. The State in real estate Now that the judiciary has begun questioning the place of state institutions in the lucrative real estate business, perhaps something will finally be done about this blatant conflict of interest and the harm it does to the entire sector. https://epaper.brecorder.com/2022/01/08/4-page/914413-news.html 4 Business Recorder
23. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   178.80 240.80 201.30 28.00 47.40
9 Business Recorder

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