IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS THURSDAY 7th OCTOBER, 2021

S.# Description Pg. # Source
1. Ordinance promulgated by President Accountability law undergoes major overhaul
President Dr Arif Alvi on Wednesday appeared to have bailed Prime Minister Imran Khan out from the hectic exercise of engaging with Shehbaz Sharif, the opposition leader in the National Assembly, for the appointment of the National Accountability Bureau (NAB) top boss. https://epaper.brecorder.com/2021/10/07/1-page/903132-news.html
1 Business Recorder
2. Govt curtails powers of NAB, gives FBR real teeth The federal government has withdrawn powers and jurisdiction of the National Accountability Bureau (NAB) to investigate persons/transactions causing revenue loss on account of taxation matters. https://epaper.brecorder.com/2021/10/07/1-page/903134-news.html 1 Business Recorder
3. SBP acts to curb ‘undesirable’ forex outflows The State Bank of Pakistan (SBP) Wednesday has taken a numbers of measures to curb undesirable foreign currency outflows and as per fresh directives, persons travelling to Afghanistan will be allowed to carry only USD1,000 per person per visit with a maximum annual limit of USD6,000. https://epaper.brecorder.com/2021/10/07/1-page/903122-news.html 1 Business Recorder
4. Anjum now DG ISI, Hameed corps commander Lieutenant General Nadeem Ahmed Anjum has been appointed as the new director general of the Inter Services Intelligence (ISI), whereas Lt Gen Faiz Hameed, formerly the ISI director general, has been posted as the Peshawar Corps Commander. https://epaper.brecorder.com/2021/10/07/1-page/903124-news.html 1 Business Recorder
5. Power tariff main reason behind stalled IMF talks The parleys between International Monetary Fund (IMF) and Power Division on new Circular Debt Management Plan (CDMP) are reportedly not heading towards any conclusion due to impasse on increase in electricity tariff, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/10/07/1-page/903127-news.html 1 Business Recorder
6. Overseas Pakistanis NRLP incentives may be partially withdrawn
The government is likely to partially withdraw incentives offered to Overseas Pakistanis under National Remittance Loyalty Program (NRLP) after the State Bank of Pakistan’s opposition, sources close to Finance Minister told Business Recorder. https://epaper.brecorder.com/2021/10/07/1-page/903129-news.html
1 Business Recorder
7. PSX plunges by 293.34 points BRIndex100 sheds more weight
A bearish trend continued on Pakistan Stock Exchange Wednesday due to selling from local and foreign investors in almost all sectors. https://epaper.brecorder.com/2021/10/07/1-page/903131-news.html
1 Business Recorder
8. Gold prices rise Gold prices on Wednesday further grew on the local market, traders said. https://epaper.brecorder.com/2021/10/07/11-page/903184-news.html 11 Business Recorder
9. Rs39bn collected, 1.86m returns filed till Sept 30th The Federal Board of Revenue (FBR) collected Rs39 billion tax along with 1.86 million income tax returns filed till September 30, 2021. https://epaper.brecorder.com/2021/10/07/12-page/903187-news.html 12 Business Recorder
10. Spot rate gains Rs 400 per maund at Rs 14,300 The Spot Rate Committee of the Karachi Cotton Association on Wednesday increased the spot rate by Rs 400 per maund and closed it at Rs 14300 per maund. https://epaper.brecorder.com/2021/10/07/16-page/903200-news.html 16 Business Recorder
11. Chinese loans details shared with IMF, says minister Affirming the returns given to power projects under the China Pakistan Economic Corridor (CPEC) are on the higher side, Planning and Development Minister Asad Umar on Wednesday said details of all Chinese loans had been shared with the International Monetary Fund (IMF) and these were more economical than all other loans, including those obtained from multilateral and other western lenders. https://epaper.dawn.com/DetailImage.php?StoryImage=07_10_2021_001_001 1 Dawn
12. Biometric proof must for buying $500 or above: SBP The State Bank of Pakistan (SBP) has imposed another restriction on buying of dollars from open market as it made biometric verification compulsory for all those who would buy $500 or above from open mar1(et. https://epaper.dawn.com/DetailImage.php?StoryImage=07_10_2021_001_006 1 Dawn
13. ECC to mull ban on tomatoes, onion export The Economic Coordination Committee (ECC) of the cabinet will consider imposing a ban on export of tomatoes and onion to help bring down their prices despite opposition from growers and vegetable and fruit exporters. https://epaper.dawn.com/DetailImage.php?StoryImage=07_10_2021_009_006 9 Dawn
14. Record cotton rate sends buyers into frenzy An all-time high rate of white lint in the Karachi cotton market traumatised the buyers, particularly textile spinners, on Wednesday when prices of the commodity crossed the Rs15,000 per maund mark. https://epaper.dawn.com/DetailImage.php?StoryImage=07_10_2021_009_007 9 Dawn
15. International News    
  Natural gas market soars to record heights European and UK gas prices surged Wednesday to record peaks, energized by fears of runaway demand in the upcoming northern hemisphere winter. https://epaper.brecorder.com/2021/10/07/1-page/903128-news.html 1 Business Recorder
16. Oil retreats from multi-year highs after US stock build Oil prices dropped nearly 2% on Wednesday, pulling back from multi-year highs, as an unexpected rise in U.S. crude inventories prompted buyers to take a breather after recent torrid gains. https://epaper.brecorder.com/2021/10/07/9-page/903179-news.html 9 Business Recorder
17. Editorial News    
   Better days for cotton Cotton, once acknowledged as the lifeline of Pakistan’s farmers and a source of raw material to more than 400 textile companies, hit an all-time low last year in production and is bordering on disaster. https://epaper.brecorder.com/2021/10/07/6-page/903165-news.html 6 Business Recorder
18. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   170.80 232.57 198.40 26.78 45.60
19 Business Recorder

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