IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SUNDAY 24th OCTOBER, 2021

S.# Description Pg. # Source
1. Pakistan accepts most of IMF conditionalities? Pakistan has agreed to implement most of the conditions of the International Monetary Fund for the resuscitation of its stalled $6 billion extended loan facility. https://epaper.brecorder.com/2021/10/24/1-page/904990-news.html 1 Business Recorder
2. CPEC open to all kinds of foreign investment: Umar Federal Minister for Planning, Development, Reforms and Special Initiatives Asad Umar Saturday said that four special economic zones set up under the China-Pakistan Economic Corridor (CPEC) and Gwadar Free Zone were open for foreign investment. https://epaper.brecorder.com/2021/10/24/1-page/904991-news.html 1 Business Recorder
3. TI-P accuses Sindh of tempering with SEZA Transparency International-Pakistan (TI-P) has accused Sindh government of altering Special Economic Zone Act, in case of Dhabeji Industrial Zone Project to extend favour to one specific party. https://epaper.brecorder.com/2021/10/24/1-page/904992-news.html 1 Business Recorder
4. Power Div. seeks Rs134.8bn TSG to clear IPPs’ dues Power Division has sought a Technical Supplementary Grant (TSG) of Rs134.783 billion to clear remaining agreed amount of 20 Independent Power Producers (IPPs) by December 3, 2021, official sources told Business Recorder. https://epaper.brecorder.com/2021/10/24/1-page/904988-news.html 1 Business Recorder
5. Bids invited from banks to act as KPP WLs Finance Division has invited bids from commercial banks –conventional and Islamic – for acting as wholesale lenders (WLs) for Kamyab Pakistan (KPP) Programme. https://epaper.brecorder.com/2021/10/24/1-page/904993-news.html 1 Business Recorder
6. TechPura: first special technology zone to be set up in Lahore The Punjab government will set up the first Special Technology Zone (STZ) in Lahore called TechPura over an area of about 100 acres of land and the companies located in this zone will benefit from special fiscal and tax incentives. https://epaper.brecorder.com/2021/10/24/2-page/905002-news.html 2 Business Recorder
7. Global conference on ‘China-Pakistan Cooperation’ begins The 2021 International Conference on China-Pakistan Cooperation kicked off in Chengdu, Sichuan province China on Saturday. https://epaper.brecorder.com/2021/10/24/2-page/905003-news.html 2 Business Recorder
8. FPCCI’s BMP urges govt to take steps aimed at arresting slide of Pak rupee The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel has urged the government to control volatility of rupee against the US dollar, as the local currency continued to lose ground and fell to an all-time low of almost Rs174 against the US dollar in the inter-bank market, putting the industrial revival and economic growth at risk. https://www.brecorder.com/news/40128614 2 Business Recorder
9. Gold prices soar An unabated surge in the gold prices continued on Saturday locally, as well, traders said. https://epaper.brecorder.com/2021/10/24/2-page/905001-news.html 2 Business Recorder
10. NKATI chief decries additional sales tax on KE bills President North Karachi Association of Trade & Industry (NKATI) Faisal Moiz Khan, while expressing deep concerns over the imposition of 20% additional sales tax (AST) on electricity bills by K Electric (KE), has demanded the government to withdraw the increase immediately. https://epaper.brecorder.com/2021/10/24/3-page/905011-news.html 3 Business Recorder
11. Return of goods made to unregistered persons KTBA for allowing output tax against credit notes
Federal Board of Revenue (FBR) has disallowed adjustment of output tax against credit notes on the basis of return of goods made to the unregistered persons, creating immense difficulties for taxpayers. https://epaper.brecorder.com/2021/10/24/3-page/905010-news.html
3 Business Recorder
12. Dubai Expo: Soft image of country, investment prospects in Punjab highlighted Provincial Minister for Industries and Trade Mian Aslam Iqbal on Saturday said that 20 departments including Industry and Commerce, Energy, Agriculture, C&W and Livestock will participate in Dubai Expo at different times. https://www.brecorder.com/news/40128612 3 Business Recorder
13. Prices of all kitchen items increase further Following an increase in fuel, power prices coupled with Pakistan rupee depreciation, the prices of all the essential kitchen items have witnessed a further increase during this week past as compared with the previous week, a survey carried out by Business Recorder revealed here on Saturday. https://epaper.brecorder.com/2021/10/24/5-page/905027-news.html 5 Business Recorder
14. Rising trend continues on cotton market The Spot Rate Committee of the Karachi Cotton Association on Saturday has increased the spot rate by Rs 100 per maund and closed it at Rs 15000 per maund. https://epaper.brecorder.com/2021/10/24/7-page/905031-news.html 7 Business Recorder
15. Summary to empower BoI for renegotiating BITs gathering dust A summary has been pending with the Prime Minister’s Secretariat which allows Board of Investment (BoI) to re-negotiate all its Bilateral Investment Treaties (BITs) on a new template. https://epaper.brecorder.com/2021/10/24/8-page/905042-news.html 8 Business Recorder
16. LCCI chief underscores need for settling Pakistan-China trade in PKR and yuan  “Trade between Pakistan and China should be in local currencies as the country is facing massive deficit in trade with China. https://epaper.brecorder.com/2021/10/24/9-page/905048-news.html 9 Business Recorder
17. WB officials visit Cluster Development Initiative Adja Mansora Dahourou, Senior Private Sector Specialist, World Bank along with Tahir Akbar, Senior Urban Development Specialist, World Bank and Rafay Khan, Economist, World Bank visited the Cluster Development Initiative (CDI) recently. https://epaper.brecorder.com/2021/10/24/9-page/905052-news.html 9 Business Recorder
18. Global consumer electronics retail market’s size grows to $1.1trn The global consumer electronics retail market has grown up to $1.1 trillion and the industry has seen double digit growth after the initial 2020 lows, caused by the pandemic. https://epaper.brecorder.com/2021/10/24/10-page/905054-news.html 10 Business Recorder
19. Tax relief to be passed on to public, PVMA assures govt Pakistan Vanaspati Manufactures Association (PVMA) and importers have assured the government that they will pass on the impact of tax/duties relief to the public in letter and spirit. https://epaper.brecorder.com/2021/10/24/10-page/905061-news.html 10 Business Recorder
20. Number of 3G, 4G users reaches 104.71m by end-Sept The number of 3G and 4G users in Pakistan reached 104.71 million by end September 2021 compared to 103.12 million by end August 2021, registering an increase of 1.59 million, revealed the Pakistan Telecommunication Authority (PTA) data. https://epaper.brecorder.com/2021/10/24/10-page/905059-news.html 10 Business Recorder
21. Pakistan personal data protection bill termed vague The Asia Internet Coalition (AIC) has termed the draft Pakistan personal data protection bill 2021 vague in many respect and made suggestions to make it of world standards. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_004_003 4 Dawn
22. US colluding with India to sabotage CPEC: PM`s aide China-Pakistan Economic Corridor (CPEC) Authority czar Khalid Mansoor came out on Saturday swinging at the United States for hatching plots against the multibillion-dollar project. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_007 9 Dawn
23. Stocks gain 757 points in jittery week Trading on the Pakistan Stock Exchange (PSX) in the outgoing week began on a negative note. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_006 9 Dawn
24. Exports to Afghanistan in local currency under study Fearing disruptions in export proceeds, the government has decided in principle to look into various options including allowing exports of additional items in local currency to Afghanistan on land routes owing to non-availability of tradable currency through banking channels. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_004 9 Dawn
25. SBP allows dollar buying with e-Sahulat verification For facilitating genuine buyers, the State Bank of Pakistan (SBP) on Saturday temporarily allowed the exchange companies to sell over $500 to individuals on production of biometric certification from the National Database and Registration Authority`s e-Sahulat outlets. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_008 9 Dawn
26. Private sector likely to be allowed LNG imports The private sector is likely to be allowed to import Liquefied Natural Gas (LNG) from next month, the All Pakistan CNG Association (APCNGA) said on Saturday. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_005 9 Dawn
27. Green hydrogen plant to be built in Sindh Pakistan`s first green hydrogen plant will be built in Sindh with a capacity to produce approximately 150,0001(g fuel per day, it emerged on Saturday. https://epaper.dawn.com/DetailImage.php?StoryImage=24_10_2021_009_009 9 Dawn
  International News    
28.  Top oil exporter Saudi Arabia targets zero carbon emissions by 2060 Top crude exporter Saudi Arabia will aim to achieve net zero carbon emissions by 2060, its de facto ruler said on Saturday, days before the COP26 global climate summit. https://epaper.brecorder.com/2021/10/24/1-page/904989-news.html 1 Business Recorder

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