IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SUNDAY 8th JANUARY, 2023

S.# Description Pg. # Source
1. Jul-Dec: FBR makes Rs176bn payment against refunds The Federal Board of Revenue (FBR) has paid refunds of Rs176 billion during the first half (July-December) of 2022-23 against Rs149 billion paid during same period of 2021-22, reflecting an increase of Rs 27 billion. https://epaper.brecorder.com/2023/01/08/1-page/951865-news.html 1 Business Recorder
2. PM tells IMF chief Govt committed to meeting conditionalities Prime Minister Shehbaz Sharif has expressed resolve to complete the terms of the International Monetary Fund (IMF) Extended Fund Facility programme. https://epaper.brecorder.com/2023/01/08/1-page/951869-news.html 1 Business Recorder
3. Pakistan repays over $1bn external debt The country has successfully repaid over one-billion-dollar external debt to the international financial institutions on Friday. https://epaper.brecorder.com/2023/01/08/1-page/951870-news.html 1 Business Recorder
4. FBR imposes 20pc duty on steam-fired absorption chiller The customs classification committee of the Federal Board of Revenue (FBR) has imposed 20 percent customs duty on the import of “steam-fired absorption chiller”, rejecting the importer’s claim of zero percent duty. https://epaper.brecorder.com/2023/01/08/1-page/951866-news.html 1 Business Recorder
5. SECP briefs NBFCs on improved regulatory requirements The Securities and Exchange Commission of Pakistan (SECP) briefed the non-banking finance companies (NBFCs) on improved regulatory requirements, recently imposed through Circular No 15 to address the complaints of mis-selling, inflated charges and undue access to customers’ data. https://epaper.brecorder.com/2023/01/08/1-page/951873-news.html 1 Business Recorder
6. CAP denounces undue restrictions on retail trade timings The Chain store Association of Pakistan (CAP), the certified trade body of organized retailers in the country, has denounced the undue impediments on retail trade timings to 8:30 pm. https://www.brecorder.com/news/40218954 2 Business Recorder
7. Saudi prince to set up Tech House in Pakistan Saudi Arabia’s Prince Fahad bin Mansour Alsaud has announced to set up a dedicated Saudi-Pakistan Tech House to promote greater ease of doing business in Pakistan. https://www.brecorder.com/news/40218955/saudi-prince-to-set-up-tech-house-in-pakistan 2 Business Recorder
8. Prices of flour, chicken witness significant increase The wheat flour and chicken prices have witnessed a significant increase during past week against the previous week, revealed a survey carried out by Business Recorder here on Saturday. https://epaper.brecorder.com/2023/01/08/3-page/951878-news.html 3 Business Recorder
9. KE incurred less line losses Nepra chief says performance of all Discos dismal Chairman National Electric Power Regulatory Authority (Nepra) Tauseef Hassan Farooqi, while expressing sheer disappointment over the performance of Discos across Pakistan including K-Electric (KE), stated that KE, being a private entity was better as compared to other Discos as KE has drastically brought down Transmission & Distribution (T&D) losses from more than 40 percent to 15.5 percent but the biggest dilemma was that they have failed to improve the power generation. https://epaper.brecorder.com/2023/01/08/5-page/951892-news.html 5 Business Recorder
10. Gold prices go up Gold prices on Saturday regained a sizeable value on the local market, traders said. https://epaper.brecorder.com/2023/01/08/5-page/951891-news.html 5 Business Recorder
11. Tanneries, too, facing prospect of closure? Reluctance by the banks to release import documents of various inputs of the tanning industry waiting at Karachi Port has created the apprehensions of closure of operations by the tanning sector which is worth billion dollar export industry. https://epaper.brecorder.com/2023/01/08/8-page/951909-news.html 8 Business Recorder
12. Expansion of telecom services USF spends Rs124bn on implementation of 130 projects The Universal Service Fund (USF) has spent around Rs124 billion so far to implement 130 projects across the country envisaging expanding telecom services to un-served and under-served areas. https://epaper.brecorder.com/2023/01/08/8-page/951910-news.html 8 Business Recorder
13. Pressure mounts on Dar to stop `managing` exchange rate As Pakistan`s foreign exchange reserves have fallen to an alarming level not even sufficient enough to cover three weeks worth of imports the financial sector has asked Finance Minister Ishaq Dar to stop `managing` the rupee-dollar parity, which is one of the key conditions set by the IMF for resuming stalled talksfor the release of a $1.12 billion tranche. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2023_009_005 9 Dawn
14. Pakistanis in a fix over deepening food price disparities Higher import and transportation costs, crop availability, the demand and supply gap, hoarding, exchange rate issues, etc have led to massive price disparities in prices of essential food items in various cities of the country. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2023_009_007 9 Dawn
15. Govt to give Rs17.5bn subsidy for buying e-bikes The Ministry of Industries and Production has devised a scheme to initially produce 100,000 e-bikes in 18 months to diversify fuel consumption as well as help reduce carbon emissions. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2023_009_004 9 Dawn
16. Stocks bounce back on hopes of IMF talks Trading began on a sluggish note in the outgoing week as inflation touched 24.5 per cent for December, said Arif Habib Ltd. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2023_009_008 9 Dawn
17. SECP bars digital lenders from deducting upfront charges The Securities and Exchange Commission of Pakistan (SECP) has briefed the non-banking finance companies (NBFCs) on improved regulatory requirements, recently imposed through Circular No. 15 to addressthe complaints of mis-selling, inflated charges and undue access to customers data. https://epaper.dawn.com/DetailImage.php?StoryImage=08_01_2023_009_009 9 Dawn

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