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1.THE RUPEE: Slight recoveryOn Wednesday, PKR moved up against USD in both interbank and open markets. Recorder
2.Power theftGovt decides to amend lawThe government has decided to amend Pakistan Penal Code (PPC) Act 1860 with a view to nabbing consumers allegedly involved in electricity theft through an order of a court on the application of not below grade 17 officer. Recorder
3.Tarbela 4th extension projectTI-P refuses to accept ministry’s assertionTransparency International -Pakistan (TI-P) has refused to accept an assertion of Ministry of Water Resources that Prime Minister ordered closure of an inquiry into the affairs of the Tarbela fourth extension project, saying that it is an attempt aimed at diverting blame from themselves. Recorder
4.KSE-100 Index inches upBRIndex100 ends flatPakistan Stock Exchange Wednesday remained under selling pressure as local investors opted to book profit before Eid holidays. Recorder
5.Bayer Pakistan holds webinar ‘Water scarcity to be aggravated by 2025 in Pakistan’“Despite Pakistan is the 5th most populous country in the world, water scarcity is a very serious threat, which will be aggravated by 2025, leaving very limited water for use. Recorder
6.Senate panel defers Cos (Amend) BillSECP told to amend clauses to facilitate start-upsThe Senate Standing Committee on Finance Wednesday deferred the Companies (Amendment) Bill, 2021, with the directions to the Securities and Exchange Commission of Pakistan (SECP) to amend certain clauses to facilitate working of start-up companies in Pakistan. Recorder
7.‘LESCO is highest loss making company’The Lahore Electric Supply Company is the highest loss making company out of the five distribution companies (DISCOs) operating in the province of Punjab, including Gujranwala Electric Power Company (GEPCO), Faisalabad Electric Supply Company (FESCO), Islamabad Electric Supply Company (IESCO) and Multan Electric Power Company (MEPCO). Recorder
8.NPO to launch ‘National Productivity Movement’The National Productivity Organization (NPO) has decided to launch “National Productivity Movement” in a bid to create awareness on the use of modern innovative techniques and technology in various sectors of the country’s economy, which is essential for the promotion of sustainable productivity. Recorder
9.PCSIR establishes help desk at LCCIPakistan Council of Scientific & Industrial Research (PCSIR) has established its Help Desk at the Lahore Chamber of Commerce & Industry. Recorder
10.MCML plans to localise its vehicles up to 60pcAchieving the milestone of producing 10 thousand vehicles in just 2 years after setting up its technologically advanced plant in Pakistan, the Master Changan Motors Limited (MCML) intends to localise their vehicles up to at least 60 percent in the next two years. Recorder
11.UPIC agrees to finalise PTA in 3 monthsThe Uzbek-Pakistani Intergovernmental Commission on Trade-Economic and Scientific-Technical Cooperation Wednesday agreed to finalize bilateral Preferential Trade Agreement within three months for further increase in trade turnover between two countries. Recorder
12.RD on export of reclaimed/re-melted leadDGCV Karachi withdraws valuation rulingDirecto-rate General of Customs Valuation Karachi has withdrawn valuation ruling relating to the imposition of the regulatory duty on the export of reclaimed/re-melted lead from July 7, 2021. Recorder
13.Matsuda tells TarinJapan focusing on developing export baseAmbassador of Japan to Pakistan, Kuninori Matsuda said Wednesday that his country was focusing on developing a strong export base in Pakistan and was looking beyond the traditional sectors of textiles and automobiles. Recorder
14.German envoy discusses energy projects with AzharGerman Ambassador to Pakistan Bernhard Schlangheck called on Federal Minister for Energy Muhammad Hammad Azhar on Wednesday. Recorder
15.Appointment of CEO PGJDCMinistry’s summary rejectedThe Federal Cabinet has rejected a summary of Ministry of Industries and Production (MoI&P) on appointment of Chief Executive Officer (CEO) of Pakistan Gems and Jewellery Development Company (PGJDC), saying that none of the candidates fulfils merit, well-informed sources told Business Recorder. Recorder
16.SBP’s reserves hit over 4-year high$1bn Eurobond proceeds receivedPakistan has received foreign inflows amounting to $1 billion of Eurobond, issued by the federal government to build the foreign exchange reserves. Recorder
17.Full-year LSM nearing 14 percentLarge Scale Manufacturing (LSM) inched further ahead, registering 14.57 percent growth for 11-month period ending May 2021. Recorder
18.Inclusion of women in techCountries with high gender disparity have limited economic opportunities for women. Recorder
19.Cotton marketActivity slows down ahead of Eid-ul-Azha holidaysThe local cotton market on Wednesday remained s bearish and volume was satisfactory. Recorder
20.Bank deposits, investments surge in FY21Bank deposits grew 22 per cent year-on-year fuelling both the investment and advances in the just-ended fiscal year 2020-21.
21.Cotton variety made with US help will benefit growers, hopes ministerMinister for National Food Security and Research Syed Fakhr Imam on Wednesday said the Cotton Productivity Enhancement Programme (CPEP) helped Pakistan import more than 5,000 cotton accessions from the United States for screening against the cotton leaf curl virus (CLCuV).
22.PTCL profit rises 38pc in 1HCY21The Pakistan Telecommunication Company Ltd (PTCL) revenues rose 8 per cent to Rs38 billion mainly driven by broadband and corporate and wholesale business segments during the first half of calendar 2021, which is the highest half-year growth since 2014.
23.Talks with Russian team on gas project under wayA high-powered Russian delegation is currently in Islamabad for critical talks on the Pakistan Stream Gas Pipeline Project.
24.FPCCI seeks SC protection against FBR powersThe acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Nasir Khan, has urged the Supreme Court to protect the business community as the `discretionary` powers of the Federal Board of Revenue (FBR) have been expanded in the federal budget of the current financial year.
25.Govt raises Rs569bn thru T-bills auctionThe government raised Rs569.7 billion through auction of market treasury bills on Wednesday.
26.FBR to register housing societies and jewellersThe Federal Board of Revenue will register housing societies and jewellers, says FBR’s Faisalabad Chief Commissioner Mahmood Hussain.
27.Currency exchange ratesCountries 
U.S.U.KEUROCHINASAUDIA ARABIASymbol $£¥﷼, SRRates 159.49220.46188.2624.8942. 57
17 Business Recorder

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