IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS THURSDAY 9th September, 2021

S.# Description Pg. # Source
1. Kamyab Pakistan Programme IMF flashlight likely to cast a bright beam
The Kamyab Pakistan Programme (KPP), a flagship programme of the present government, would be part of the discussions, among other things, with the Pakistani authorities during the upcoming review on $6 billion Extended Fund Facility (EFF) programme with International Monetary Fund (IMF). https://epaper.brecorder.com/2021/09/09/1-page/899941-news.html
1 Business Recorder
2. PM highlights importance of digitalised mapping Prime Minister Imran Khan said on Wednesday that cadastral digitalisation of land mapping is the only way to defeat the land grabber mafia and benefit the overseas Pakistanis and increase revenue collection. https://epaper.brecorder.com/2021/09/09/1-page/899942-news.html 1 Business Recorder
3. Subsidies, inefficiencies blamed for power sector circular debt Chairman, National Electric Power Regulatory Authority (NEPRA), Tauseef H. Farooqi said on Wednesday that exorbitant subsidies and inefficiencies of power sector are key factors behind the Rs2.4 trillion circular debt. https://epaper.brecorder.com/2021/09/09/1-page/899943-news.html 1 Business Recorder
4. MSCI downgrades Pakistan to Frontier Market The Morgan Stanley Capital International (MSCI), in its decision early Wednesday morning, has decided to downgrade Pakistan from Emerging Market (EM) to Frontier Market (FM). https://epaper.brecorder.com/2021/09/09/1-page/899944-news.html 1 Business Recorder
5. Toyota says will invest over $100m in HEV production M/s Toyota has announced to invest over $100 million for the local production of Hybrid Electric Vehicle (HEV) in Pakistan, which will go towards localization of components, plant expansion and production preparation for the first Hybrid Electric Vehicle to be manufactured at Indus Motor Company Limited (IMC) plant located at Port Qasim, Karachi. https://epaper.brecorder.com/2021/09/09/1-page/899945-news.html 1 Business Recorder
6. FBR won’t extend tax return deadline: official The Federal Board of Revenue (FBR) will not extend the last date (September 30) for filing of income tax returns. https://epaper.brecorder.com/2021/09/09/1-page/899946-news.html 1 Business Recorder
7. THE RUPEE: Regains some lost value On Wednesday, PKR regained some lost value after going down for quite some time against major currencies. It went up by one and a half rupee against Euro thus bringing PKR back above 200 in open market.  https://epaper.brecorder.com/2021/09/09/1-page/899949-news.html 1 Business Recorder
8. MSCI decision takes its toll on PSX BRIndex100 extends losses
MSCI decision to downgrade Pakistan from Emerging Market Index to Frontier Market Index invited selling and despite positive opening, Pakistan Stock Exchange closed in deep red Wednesday. https://epaper.brecorder.com/2021/09/09/1-page/899947-news.html
1 Business Recorder
9. BOI Secy terms visit of German team positive sign for economy Board of Investment (BOI) Secretary Fareena Mazhar termed the forthcoming visit of German delegation to Pakistan a very positive sign for Pakistan’s economy. https://epaper.brecorder.com/2021/09/09/4-page/899967-news.html 4 Business Recorder
10. EU envoy explains how Pakistan can carry on benefiting from GSP+ regime beyond 2023 The current GSP+ regulation expires at the end of 2023 and Pakistan will carry on with the present regime as long as it continues to demonstrate its tangible commitment to the 27 international conventions, said the European Union (EU) Ambassador to Pakistan, Androulla Kaminara. https://epaper.brecorder.com/2021/09/09/11-page/900015-news.html 11 Business Recorder
11. CDNS receives Rs160bn fresh deposit in two months The Central Director of National Savings (CDNS) has received a fresh deposit of Rs160 billion in the last two months from July 1 to August 31, in the current fiscal year 2020-21. https://epaper.brecorder.com/2021/09/09/11-page/900016-news.html   11 Business Recorder
12. MPMG scheme Banks approve over Rs59bn financing till Aug 31st
As a result of numerous measures of the State Bank of Pakistan and full support of the government, bank lending for the government’s flagship markup subsidy scheme, commonly known as Mera Pakistan Mera Ghar (MPMG), has picked up momentum. https://epaper.brecorder.com/2021/09/09/12-page/900028-news.html
12 Business Recorder
13. Cotton market crashes due to rains The local cotton market on Wednesday crashed. Cotton analyst Naseem Usman said to Business Recorder that the reason behind crashing of market is rains in the cotton growing areas of Sindh and Punjab due which the supply of Phutti was affected. Second reason is the arrival of imported Phutti and liquidity crunch. https://epaper.brecorder.com/2021/09/09/16-page/900038-news.html 16 Business Recorder
14. Govt begins audit of oil refineries, companies The government has started the audit of all oil refineries and oil marketing companies (OMCs) to rule out the possibility of irregularities in taxes, product sourcing and transportation costs. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_001_004 1 Dawn
15. Meltdown at PSX after MSCI move Investors’ fears of stock meltdown materialize as the KSE-100 index sinks 333 points, or 0.71 percent, to close at 46,397 on Wednesday. https://epaper.dawn.com/Advt.php?StoryImage=09_09_2021_001_006 1 Dawn
16. Govt slammed for allowing power firms to `fleece` consumers The Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) have criticised the government over reports that power companies have been sending electricity bills to their customers for more than the allowed 31 days in one month. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_003_002 3 Dawn
17. Losses after MSCI downgrades PSX Investors` fears of stock meltdown materialised as the KSE-100 index sank 333 points, or 0.71 per cent, to close at 46,397 on Wednesday. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_009_009 9 Dawn
18. EU-Pakistan business forum for SMEs launched The first ever EU-Pakistan Business Forum for Small and Medium Enterprises was launched on Wednesday which is aimed at boosting trade with countries in the European Union. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_009_010 9 Dawn
19. Integration deadline set for big retailers  The Federal Board of Revenue (FBR) has released a list of 977 identified big retailers and asked them to integrate with the computerised system of the tax machinery. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_009_007 9 Dawn
20. Govt unlikely to raise $1bn as telcos demand low rates The government`s plan to raise up to $1 billion through auction of additional spectrum on Sept 16 is likely to be adversely affected because two out of the four Cellular Mobile Operators (CMOs) are reluctant to participate actively demanding low rates, Dawn has learnt from sources in the telecom sector. https://epaper.dawn.com/DetailImage.php?StoryImage=09_09_2021_009_005 9 Dawn
  Editorial News    
21. Taming inflationary expectations As inflation continues to be the single most persistently worrisome indicator for the general public third year running the economic team’s insistence, supported by the Prime Minister, that it is due entirely to the mafia (read collusive behaviour across most sectors of the economy including industrialists/wholesalers/ retailers/aarthis) and not due to its own fiscal and monetary policies is baffling. https://epaper.brecorder.com/2021/09/09/6-page/899983-news.html 6 Business Recorder
22. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   167.55 230.88 198.75 26.22 44.73
17 Business Recorder

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