IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SUNDAY 6th June, 2021

S.# Description Pg. # Source
1. Battle against global warming PM urges rich countries to come forward with funds Prime Minister Imran Khan has asked the rich countries to at least provide funds to countries such as Pakistan fighting against climate change because the rich countries’ contribution to carbon emission was huge. https://epaper.brecorder.com/2021/06/06/1-page/888713-news.html 1 Business Recorder
2. Economic activity rebounds strongly: IMF Economic activity in Pakistan worsened notably in fiscal year 2020 due to the Covid-19, recording a negative growth of –0.5 percent; however, activity rebounded strongly in fiscal year 2021 with growth preliminary estimated at 3.9 percent, says the International Monetary Fund (IMF). https://epaper.brecorder.com/2021/06/06/1-page/888709-news.html 1 Business Recorder
3. Various sectors EAC likely to finalise incentives A meeting of the Economic Advisory Council (EAC) is expected to finalise on Monday the incentive package for various sectors and budgetary allocations based on the proposals by as many as 12 sub-groups constituted by the finance minister Shaukat Tarin on different sectors of the economy. https://epaper.brecorder.com/2021/06/06/1-page/888710-news.html 1 Business Recorder
4. Bank account holder’s complaint President sets aside Banking Mohtasib’s findings To ensure dispensation of justice to public over their grievances against financial bodies, President Dr ArifAlvi set aside the findings of the Banking Mohtasib for dealing with the complaint of a bank account holder in a “causal manner” and without taking into account the principles of justice and required standards of inquiry, said a press release. https://epaper.brecorder.com/2021/06/06/1-page/888708-news.html 1 Business Recorder
5. FBR’s unified scheme rejected by stakeholders The Federal Board of Revenue (FBR) has received a big blow from the stakeholders who have rejected outright the proposed unified scheme which aims at amalgamation of manufacturing bonds scheme, Duties, and Tax Remission for Export (DTRE) scheme, and Temporary Importation Scheme. https://epaper.brecorder.com/2021/06/06/2-page/888728-news.html 2 Business Recorder
6. Prices of essential kitchen items witness mixed trend Prices of essential kitchen items have witnessed a mixed trend during this week past as compared with the previous week, revealed a survey conducted by Business Recorder, here on Saturday. https://epaper.brecorder.com/2021/06/06/7-page/888759-news.html 7 Business Recorder
7. 1Q 2021 Punjab govt’s debt declines by 5pc The Punjab government’s debt saw decline by 5 percent (Rs 42.8 billion) in the first quarter of this year. https://epaper.brecorder.com/2021/06/06/7-page/888762-news.html 7 Business Recorder
8. Industrial sector’s complaints FTO to take up policy changes with FBR The Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has assured the industrial sector that the issues of maladministration, harassment during audit, delayed refunds, and withdrawal of income tax exemption to newly-established industrial undertakings would be taken up with the Federal Board of Revenue (FBR) for policy changes in the budget (2021-22). https://epaper.brecorder.com/2021/06/06/7-page/888763-news.html 7 Business Recorder
9. Tobacco industry to oppose any tax increase: study Though the cigarette prices are cheapest in Pakistan compared to the rest of South Asia region, the tobacco industry in the country would oppose any tax increase to raise prices and discourage smoking. https://epaper.brecorder.com/2021/06/06/9-page/888775-news.html 9 Business Recorder
10. Auto sector showing growth despite Covid pandemic: PAMA Despite the challenge of increasing the input costs especially the raw material being hard to find due to post Covid growth globally, auto sector is reporting growth for the past few months. https://epaper.brecorder.com/2021/06/06/9-page/888780-news.html 9 Business Recorder
11. Cement sector shows excellent growth rate of 49.86pc in May Cement sector showed excellent growth of 49.86 percent during May 2021 when total cement dispatches were recorded at 3.947 million tons against 2.634 million tons dispatched during the same month of last fiscal. https://epaper.brecorder.com/2021/06/06/9-page/888779-news.html 9 Business Recorder
12. Rising trend persists on cotton market The local market remained bullish on Saturday. Market Sources told that trading volume remained thin. https://epaper.brecorder.com/2021/06/06/12-page/888796-news.html 12 Business Recorder
13. Pakistan`s first commercial court inaugurated Chief Justice of Pakistan Gulzar Ahmad inaugurated the country`s first commercial court here at Lahore Judicial Complex on Saturday. https://epaper.dawn.com/DetailImage.php?StoryImage=06_06_2021_001_001 1 Dawn
14. Water politics brings Punjab, Sindh face to face PAKISTAN`S provincial water disputes particularly between Sindh and Punjab remain unresolved even three decades after signing of the Water Apportionment Accord to share waters of the Indus River basin. https://epaper.dawn.com/DetailImage.php?StoryImage=06_06_2021_009_007 9 Dawn
15. Shipping agents seek amendments to trans-shipment rules In its Budget 2021-22 proposals shared on Saturday, the Pakistan Ship`s Agents Association (PSSA) urged the government to facilitate re-export of shipments by amending trans-shipment rules as it was shifting businesses from local ports to other facilities in the region. https://epaper.dawn.com/DetailImage.php?StoryImage=06_06_2021_009_005 9 Dawn
16. Ministry approves 10 products for registration as GI The ministry of commerce on Saturday announced that it has approved 10 products for registration as Geographical Indications (GI). https://epaper.dawn.com/DetailImage.php?StoryImage=06_06_2021_012_002 12 Dawn
  Editorial News    
17. The IFC-WB report Nobody, at least in Pakistan, is surprised that a report by the International Finance Corporation (IFC) and the World Bank (WB) has identified “entrenched special interest groups” in the country, which thrive on the status quo and deliberately implement and maintain “unfair and distortive economic policies”, and also make it very difficult to undertake any sort of reforms. https://epaper.brecorder.com/2021/06/06/6-page/888753-news.html 6 Business Recorder

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