IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SUNDAY 11th July, 2021

S.#DescriptionPg. #Source
1.Platform for devolved systemNEC and CCI need to be strengthened: UmarThe National Economic Council (NEC) and the Council of Common Interests (CCI) need to be strengthened for providing political administrative platform for a devolved system to come together and do decision-making, which works best for the majority of the country, said Asad Umar, Minister for Planning, Development and Special Initiatives.https://epaper.brecorder.com/2021/07/11/1-page/892977-news.html1Business Recorder
2.10th CPEC JCC meeting on 16th: AsimThe 10th meeting of Joint Coordination Committee (JCC) on China Pakistan Economic Corridor (CPEC) is scheduled to be held on July 16.https://epaper.brecorder.com/2021/07/11/1-page/892967-news.html1Business Recorder
3.Higher fee structureFBR allowed to hire lawyersThe Federal Board of Revenue (FBR) has been given autonomy to appoint advocates on panel of the FBR, on higher fee structure, without approval from the Law and Justice Division.https://epaper.brecorder.com/2021/07/11/1-page/892978-news.html1Business Recorder
4.Export of POL products: EIF filing not requiredThe Federal Board of Revenue (FBR) has allowed the owners of petroleum products, including petroleum, LNG, oil and lubricants to export such POL products to any foreign territory by way of direct sale or third party without filing Electronic Import Form (EIF).https://epaper.brecorder.com/2021/07/11/1-page/892979-news.html1Business Recorder
5.Pakistan, Uzbekistan all set to sign TTAPakistan and Uzbekistan are all set to sign Transit Trade Agreement (TTA) on Thursday (July 15) in Tashkent, allowing each other to use their respective facilities for transshipment of their goods.https://epaper.brecorder.com/2021/07/11/1-page/892973-news.html1Business Recorder
6.LPG taxes, dutiesStakeholders to meet today The Petroleum Division has called a consultative meeting of stakeholders on Sunday (July 11) to take important decisions on taxes and duties, which can be a hurdle in the smooth supply of LPG especially during winters.https://epaper.brecorder.com/2021/07/11/1-page/892980-news.html1Business Recorder
7.Petroleum levy at lowest level in 6 years: GillSpecial Assistant to the Prime Minister on Political Communication, Dr Shahbaz Gill on Saturday said that the petroleum levy is currently at its lowest level in six years.https://epaper.brecorder.com/2021/07/11/1-page/892981-news.html1Business Recorder
8.Prices of essential kitchen items witness increasePrices of essential kitchen items especially sugar, rice, eggs, mutton, beef, and cooking oil/ghee have witnessed an increase during this week past as compared with the previous week, revealed a survey conducted by Business Recorder, here on Saturday.https://epaper.brecorder.com/2021/07/11/2-page/892982-news.html2Business Recorder
9.Spot rate inert amid modest tradingThe local cotton market on Saturday remained stable and volume remained a little bit low.https://epaper.brecorder.com/2021/07/11/7-page/893015-news.html7Business Recorder
10.New Export Facilitation Scheme 2021: FBR issues draft rulesThe Federal Board of Revenue has issued draft Rules for new Export Facilitation Scheme 2021 and called for comments from industry, exporters and other stakeholders, said a press release.https://epaper.brecorder.com/2021/07/11/8-page/893028-news.html8Business Recorder
11.Sustainable economic growth major challenge: DawoodAdvisor to Prime Minister on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood has said that sustainability of economic growth is a major challenge after stabilising and improving the economic indicators.https://epaper.brecorder.com/2021/07/11/9-page/893045-news.html9Business Recorder
12.Bad loans of NBMFCs surge by 347pcClassified assets of non bank (microfinance companies (NBMFCs) surged almost 347 per cent in 2020, according to the latest Financial Stability Review of the State Bank of Pakistan (SBP).https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0059Dawn
13.Bears drag stocks below 48,000 level in jittery weekThe stock market remained under the control of the bears during the outgoing week. And despite a surprise 805-point rally on Thursday spurred by the unexpected mutual funds` buying of stocks worth $12.3m, the index closed in the negative trajectory for the remaining four sessions to close the week below the barrier of 48,000 points at 47,563, down by 123 points.https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0069Dawn
14.Price of sugar rises by around Rs20 a kilo in last fiscal yearDespite higher sugar production and heavy imports, consumers paid Rs20-25 more to buy a kilo of the sweetener in 2020-21.https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0029Dawn
15.South Punjab set to get its first Amazon facilityPakistan Post is set to inaugurate south Punjab`s first Amazon Fulfilment and Facilitation Centre (AFFC) in Multan after Eidul Azha. The facility will provide local handmade and cultural products access to the international market.https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0049Dawn
16.Quality control arm`s labs lose legal statusSeven out of nine labs and technical offices of the Pakistan Standards and Quality Control Authority (PSQCA) do not have valid operating licences.https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0039Dawn
17.Only private sector-led development can take Pakistan forward: AsadFederal Minister for Planning, Development & Special Initiatives Asad Umar on Saturday reposed confidence in the private sector for Pakistan attaining economic viability in future.https://epaper.dawn.com/DetailImage.php?StoryImage=11_07_2021_009_0019Dawn
 Editorial News  
18.A food crisis in the makingThe United Nations’ (UN’s) Food and Agriculture Organisation’s (FAO’s) warning that rocketing global food prices could ‘foment further social unrest in countries already mired in political turmoil’ must have rung very loud alarm bells in many capital cities of the world, including Islamabad where governments are struggling with the hangover of the pandemic and are unable to match their expenses with their incomes.https://epaper.brecorder.com/2021/07/11/4-page/893002-news.html4Business Recorder

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