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1.Global edible oil trendsTarin for reflection of price decline in domestic pricesFederal Minister for Finance and Revenue Shaukat Tarin, on Monday, ordered initiation of administrative measures to keep the prices of essential items, including vegetables, in check on the occasion of upcoming Eidul Azha and asked Ministry of Industries to procure another 100,000 ton of sugar in due course. Recorder
2.KSA allows entry to Pakistanis inoculated with Chinese vaccineSaudi Arabia has allowed Pakistanis inoculated with Chinese vaccine against the coronavirus (Covid-19) to enter the Kingdom. Recorder
3.IPPs established under 2002 policyPower Division backed out of IAs?Power Division is said to have “backed out” of Implem-entation Agreements (IAs) with the Independent Power Producers (IPPs) established under the Power Policy 2002, and proposed negotiation of Master Agreements in the light of National Accoun-tability Bureau’s (NAB’s) recent letter, sources close to Minister for Planning, Development and Special Initiatives told Business Recorder. Recorder
4.Discos’ consumersNepra approves Rs3.3bn refund for MayThe National Electric Power Regulatory Authority (Nepra) has approved a refund of Rs 3.3 billion to the consumers of Discos for May 2021 under monthly fuel component adjustment mechanism. Recorder
5.THE RUPEE: Mixed behaviorOn Monday, PKR exhibited mixed behaviour against USD in interbank and open markets. Recorder
6.Lack of improvement in power systemDearth of financial resources cited as major hurdle Power Division on Monday cited the dearth of financial resources as a major hindrance to power system improvement. Recorder
7.Cabinet approves transit trade deal with UzbekistanThe Federal Cabinet has approved the agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT) to be signed on July 15, which would give access of Pakistani seaports to Uzbekistan and offer access to all five Central Asian States for Pakistani exports, official sources told Business Recorder. Recorder
8.RD on educational items doubledThe Federal Board of Revenue (FBR) has doubled regulatory duty, ie, from 10 percent to 20 percent on the import of educational items including pencils and crayons from July 1, 2021. Recorder
9.PSX rangeboundBRIndex100 edges downPakistan Stock Exchange Monday witnessed a mixed trend and after moving both ways, closed on a negative note due to selling in various sectors. Recorder
10.Indonesia-Pakistan B2B online portal launchedProvincial Minister for Industries and Trade Mian Aslam Iqbal on Monday said Indonesia-Pakistan preferential trade agreement has been beneficial for private businesses of both countries and instrumental in focusing growth in Pakistan. Recorder
11.Industrial CooperationChina, Pakistan may sign framework agreement in JCC mootChina and Pakistan are expected to sign a framework agreement for Industrial Cooperation (IC) during the 10th Joint Cooperation Committee (JCC) meeting on China-Pakistan Economic Corridor (CPECT), scheduled to be held via video-link this month. Recorder
12.Pak-Afghan trade shrinks to few million dollars: PBIFNational Business Group Pakistan chairman and Pakistan Businessmen and Intellectuals Forum president Mian Zahid Hussain said the potential of bilateral trade between Pakistan and Afghanistan is $10 billion but it has been reduced to a few million dollars. Recorder
13.SBP tells banks to boost consumers’ protection mechanismThe State Bank of Pakistan (SBP) has directed banks to further improve the consumer grievance handling mechanism deployed at their end. Recorder
14.Firewood vs natural gasPakistan has more or less 12 million households connected to the natural gas pipeline. Recorder
15.Towards economic securityWhile the realization that economic imperatives should drive foreign policy and internal security has been present among Pakistan’s policymaking elite for some time, the current government has a rare chance to make the transition from “geo-politics to geo-economics”. Recorder
16.Spot rate firm amid improved businessThe local cotton market on Monday remained bearish and volume improved a little bit. Recorder
17.Outages blamed on reduced hydropower production, faultsThe government on Monday conceded carrying out forced loadshedding in different parts of the country, citing reduced production of hydro-electricity and faults in transmission lines.
18.Tarin orders procurement of 100,000 tonnes of sugar to build reservesThe National Price Monitoring Committee has expressed satisfaction over the recent declining trend in sugar price.
 International News  
19. Covid triggered biggest increase in hunger in decades: UNThe Covid pandemic caused an estimated 18 percent increase in the number of people facing hunger, a UN report released on Monday found, dealing a massive setback to efforts to ensure everyone has access to food. Recorder
20.Currency exchange ratesCountries 
U.S.U.KEUROCHINASAUDIA ARABIASymbol $£¥﷼, SRRates 159.20221.08189.2724.8542. 45
17 Business Recorder

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