IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS THURSDAY 3rd June, 2021

S.# Description Pg. # Source
1. Power matters KE given 10-day deadline The K-Electric on Wednesday was directed to address electricity-related issues in Karachi within 10 days. https://epaper.brecorder.com/2021/06/03/1-page/888340-news.html 1 Business Recorder
2. July-May trade deficit up 29.5pc YoY The country’s trade deficit increased by 29.5 percent to $ 27.275 billion during the first 11 months (July-May) 2020-21 as compared to $ 21.065 billion in the corresponding period of FY 2019-20. https://epaper.brecorder.com/2021/06/03/1-page/888339-news.html 1 Business Recorder
3. Nepra hints at refunding Rs4.4bn to consumers National Electric Power Regulatory Authority (Nepra) on Wednesday hinted at refunding Rs 4.4 billion to domestic consumers of Distribution Companies (Discos) who consumed over 300 units in April 2021 under the monthly fuel adjustment mechanism amid a fiery discussion on the need for conducting a special audit of National Power Control Centre (NPCC) for violating economic merit order and not rectifying constraints. https://epaper.brecorder.com/2021/06/03/1-page/888341-news.html 1 Business Recorder
4. THE RUPEE: Fall by small margin vs USD On Wednesday, PKR fell by a small margin against USD in interbank market. https://epaper.brecorder.com/2021/06/03/1-page/888344-news.html 1 Business Recorder
5. WB proposes $200m credit facilities for housing sector The Country Director, World Bank (WB), NajyBenhassine in a meeting with the Federal Minister for Finance and Revenue, Shaukat Tarin shared the Bank’s proposed $200 million credit facilities for various interventions in the housing sector. https://epaper.brecorder.com/2021/06/03/1-page/888342-news.html 1 Business Recorder
6. Banks/DFIs investment in REITs SBP amends capital adequacy regulations In order to provide further support to the development of real estate sector, the State Bank of Pakistan (SBP) has amended capital adequacy regulations to facilitate banks/DFIs investment in Real Estate Investment Trusts (REITs) to boost housing and construction sector. https://epaper.brecorder.com/2021/06/03/1-page/888343-news.html 1 Business Recorder
7. KSE-100 Index slips BR Index 100 sees downtick  Pakistan Stock Exchange Wednesday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling in select stocks at the fag end. https://epaper.brecorder.com/2021/06/03/1-page/888337-news.html 1 Business Recorder
8. Information technology sector Inconsistent policies creating hurdles: experts Pakistan has great potential to develop information technology sector but inconsistent policies are creating serious hurdles. https://epaper.brecorder.com/2021/06/03/2-page/888345-news.html 2 Business Recorder
9. Area under sowing of cotton falls short of target in Punjab Initial surveys of the cotton sowing area by the provincial departments concerned suggest that area under sowing of cotton during current season remained slightly over 3.3 million acres of land which is almost 700,000 acres short of the target of 4 million acres assigned to the province. https://www.brecorder.com/news/40097452/area-under-sowing-of-cotton-falls-short-of-target-in-punjab 2 Business Recorder
10. Ecosystem restoration in Pakistan Experts discuss financing arrangements A seminar on ‘Financing arrangements for ecosystem restoration in Pakistan’ was held here at the GC University Lahore under the auspices of Sustainable Development Policy Institute (SDPI) in connection with the World Environment Day 2021. https://epaper.brecorder.com/2021/06/03/3-page/888361-news.html 3 Business Recorder
11. Electric vehicles Excise dept to waive registration fee The Punjab Excise department has decided to waive off registration fee for the electric vehicles, said sources. https://epaper.brecorder.com/2021/06/03/6-page/888376-news.html 5 Business Recorder
12. May POL sales up 14pc YoY Total petroleum and lubricant sales clocked-in at 1.69 million tons in May 2021, depicting an increase of 14 percent on year-on-year basis. https://epaper.brecorder.com/2021/06/03/5-page/888369-news.html 6 Business Recorder
13. PML-N asks govt to renegotiate terms with IMF The Pakistan Muslim League-Nawaz (PML-N) Wednesday asked Pakistan Tehreek-e-Insaf (PTI) government to renegotiate the terms it had agreed in its programme with the International Monterey Fund (IMF) and also offered its assistance in this regard. https://epaper.brecorder.com/2021/06/03/7-page/888384-news.html 7 Business Recorder
14. FBR delineates key features of new e-audit system One of the key features of the Federal Board of Revenue’s new e-audit system is that the taxpayer or his authorized representative would not be required to personally appear before Inland Revenue officers during the whole audit proceedings. https://epaper.brecorder.com/2021/06/03/11-page/888420-news.html 11 Business Recorder
15. Palm oil imports keep rising Pakistan’s food imports have surpassed all records this fiscal year at $6.9 billion with 2 months remaining – and the toll already surpassing any 12-month period in history. https://epaper.brecorder.com/2021/06/03/13-page/888435-news.html 13 Business Recorder
16. Rising flour prices: What’s at play? The increase in national food price index continued its walk of shame in May 2021, staying well in mid-teens. https://epaper.brecorder.com/2021/06/03/13-page/888437-news.html 13 Business Recorder
17. Petroleum sales – another upbeat month While May 2021 has-been relatively slower than the previous month in terms of economic activity due to long Eid-ul-Fitr holidays and the lockdown to curb the third wave of coronavirus in the country, it has brought a host of positive news on the economic data front. https://epaper.brecorder.com/2021/06/03/13-page/888436-news.html 13 Business Recorder
18. Revisiting milk taxation Pakistan is amongst the top five milk producers in the world but has one of the lowest yields. https://epaper.brecorder.com/2021/06/03/13-page/888438-news.html 13 Business Recorder
19. Phutti reaches all-time high level The local market remained stable on Wednesday. https://epaper.brecorder.com/2021/06/03/16-page/888444-news.html 16 Business Recorder
20. Trade deficit surges by 134pc Pakistan`s merchandise trade deficit in May ballooned by 134 per cent from what it was a year ago on the back of lower export proceeds and higher than expected imports, commerce ministry data showed on Wednesday. https://epaper.dawn.com/DetailImage.php?StoryImage=03_06_2021_001_004 1 Dawn
21. ECC okays new regulator for upstream petroleum The Economic Coordination Committee (ECC) of the Cabinet on Wednesday called for reducing the expenditures for the security of oil and gas fields and expeditious clearance of a law to create a separate regulator for the petroleum upstream sector to encourage investments in the oil and gas exploration.
https://epaper.dawn.com/DetailImage.php?StoryImage=03_06_2021_009_009
9 Dawn
22. Nepra halves April`s fuel adjustment relief for consumers In a rare move, the National Electric Power Regulatory Authority (Nepra) on Wednesday said it would allow only 43 paisa per unit reduction in electricity rates about half of 86 paisa suggested by the power companies -under monthly fuel cost adjustment (FCA) for consumption in April. https://epaper.dawn.com/DetailImage.php?StoryImage=03_06_2021_009_002 9 Dawn
23. Govt raises Rs773.3bn thru T-bills auction The government on Wednesday raised Rs773.3 billion through auction of market treasury bills but the cut-off yields remained unchanged. https://epaper.dawn.com/DetailImage.php?StoryImage=03_06_2021_009_008 9 Dawn
24. Pakistani startups win £668,000 GSMA grant The GSMA Innovation Fund for Mobile Internet Adoption and Digital Inclusion announced three Pakistani startups as winners out of the 597 applications received from 44 countries. https://epaper.dawn.com/DetailImage.php?StoryImage=03_06_2021_009_004 9 Dawn
  Editorial News    
25. Green Eurobond Prime Minister Imran Khan while launching Pakistan’s first green 500 million dollar Eurobond (Indus bond) issued by Water and Power Development Authority (Wapda) reiterated the huge hydropower potential in the country and pledged construction of 10 dams to produce 10,000MW environment- friendly clean energy to irrigate 0.1 million acres of land. https://epaper.brecorder.com/2021/06/03/10-page/888414-news.html 10 Business Recorder
  International News    
26. Pandemic plunges 100m more workers into poverty: UN The pandemic has pushed over 100 million more workers into poverty, the UN said Wednesday, after working hours plummeted and access to good quality jobs evaporated. https://epaper.brecorder.com/2021/06/03/1-page/888338-news.html 1 Business Recorder
27. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   154.50 218.78 188.84 24.35 41. 23
17   Business Recorder

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