| S.# | Description | Pg. # | Source |
| Inputs: exporters promised hassle-free imports Finance Minister Ishaq Dar said Monday that exporters of textile products, leather goods, surgical instruments, carpets, and sports goods would be given complete facilitation on the import of raw material/ inputs to meet their export requirements. https://epaper.brecorder.com/2023/01/17/1-page/952639-news.html | 1 | Business Recorder | |
| Imported urea ECC approves DTP, incidental charges The Economic Coordination Committee (ECC) of the Cabinet stated that fixation of price of imported urea at par with domestic urea would help the government in saving of around Rs750 million and reduce estimated subsidy impact from Rs22.9 billion to Rs22.2 billion. https://epaper.brecorder.com/2023/01/17/1-page/952640-news.html | 1 | Business Recorder | |
| Senate passes SBP (Amendment) Bill-2021 The upper house of the parliament, Monday, passed by majority vote the State Bank of Pakistan Amendment Bill 2021, a private-member bill that seeks to ensure that the “minimum credit/ lending of the commercial banks to the private sector for establishing industry and commercial activities in the smaller provinces is at par with those provinces’ total deposits in the banks.” https://epaper.brecorder.com/2023/01/17/1-page/952641-news.html | 1 | Business Recorder | |
| SBP issues framework on outsourcing to CSPs The State Bank of Pakistan (SBP) on Monday issued “Framework on Outsourcing to Cloud Service Providers (CSPs)” to set out minimum requirements for SBP’s Regulated Entities (REs) to outsource their material and non-material workloads through a risk-based approach in a safe and secure manner. https://epaper.brecorder.com/2023/01/17/1-page/952642-news.html | 1 | Business Recorder | |
| THE RUPEE: PKR registers decline Pakistan’s rupee registered a fall against the US dollar for the 19th consecutive session, depreciating 0.08% in the inter-bank market on Monday. https://epaper.brecorder.com/2023/01/17/1-page/952648-news.html | 1 | Business Recorder | |
| Gas supply from MPCL FKPCL asked to obtain PPIB’s consent Petro-leum Division has asked M/s FaujiKabirwala Power Company Limited (FKPCL) to get consent of PPIB for supply of gas to its plant from Mari Petroleum Company Limited (MPCL). The decision was taken under the chairmanship of the Secretary, Petroleum Division, to deliberate the issues related to supply/ allocation of gas/RLNG to FKPCL’s power plant. https://epaper.brecorder.com/2023/01/17/1-page/952644-news.html | 1 | Business Recorder | |
| Transfer of hydro powerhouses to provinces suggested A high-level panel has recommended transfer of powerhouses of hydropower projects to respective provinces on IPP mode and issuance of bonds/ promissory notes to offset liabilities of Wapda, well informed sources told Business Recorder. https://epaper.brecorder.com/2023/01/17/1-page/952636-news.html | 1 | Business Recorder | |
| Agreement signed France to provide €120m soft loan for KeyalKhuwar hydropower project France will provide soft loan of € 120 million for KeyalKhuwar 128 MW Hydropower project. https://epaper.brecorder.com/2023/01/17/1-page/952637-news.html | 1 | Business Recorder | |
| Japan extends loan to Punjab power sector project The Japanese government extended the project loan effective period up to 31 December 2024 of ongoing loan project, “Punjab Transmission and Grid Stations Project (1)”. https://epaper.brecorder.com/2023/01/17/1-page/952638-news.html | 1 | Business Recorder | |
| Remittances, export proceeds ECAP seeks special exchange rate In order to enhance the foreign inflows, the Exchange Companies Association of Pakistan (ECAP) has suggested a special exchange rate for remittances and export proceeds. https://epaper.brecorder.com/2023/01/17/1-page/952645-news.html | 1 | Business Recorder | |
| PSX closes in deep red Pakistan Stock Exchange on Monday witnessed bearish trend and closed in deep red with heavy losses due to across-the-board selling on investor concerns over prevailing economic and political situation in the country. https://epaper.brecorder.com/2023/01/17/1-page/952647-news.html | 1 | Business Recorder | |
| Looming fuel shortages With SBP reserves at approximately $4 billion, time is not far when there would be widespread shortages of essentials, if there are no inflows of dollars with IMF on board. https://epaper.brecorder.com/2023/01/17/2-page/952651-news.html | 2 | Business Recorder | |
| Discos’ horror show Another exercise of clearing the energy sector circular debt stock via dividends, Sukuks or direct cash transfer is never too distant in Pakistan. https://epaper.brecorder.com/2023/01/17/2-page/952652-news.html | 2 | Business Recorder | |
| KTCL finalises new plan to fulfil over $100m of export orders The Khyber Tobacco Company Limited (KTCL) has chalked out a new plan to meet over US 100 million dollars of export orders and bring millions of dollars’ investment into Pakistan during 2022-23. https://epaper.brecorder.com/2023/01/17/2-page/952656-news.html | 2 | Business Recorder | |
| PCJCCI for low-cost energy projects in collaboration with China Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) urged the federal government to initiate low-cost energy generation projects in collaboration with China to reduce cost of doing business in the country. https://www.brecorder.com/news/40220628/pcjcci-for-low-cost-energy-projects-in-collaboration-with-china | 3 | Business Recorder | |
| Food supply at risk as banks reluctant to open LCs: FPCCI Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman Muhamamd Nadeem Qureshi has demanded the government should ensure opening of Letters of Credit (LCs) of agricultural inputs to make the country’s food secure. https://www.brecorder.com/news/40220629/food-supply-at-risk-as-banks-reluctant-to-open-lcs-fpcci | 3 | Business Recorder | |
| Firm trend on cotton market amid thin business activity The local cotton market on Monday remained steady and the trading volume remained very low. https://epaper.brecorder.com/2023/01/17/4-page/952667-news.html | 4 | Business Recorder | |
| 47 Iranian firms showcasing products, services at Pak-Iran expo Pakistan-Iran exhibition started at Expo Centre Karachi on Monday. Kamran Tessori, Governor Sindh and Suleman Chawla, SVP FPCCI, inaugurated the expo – along with top Iranian diplomats. https://epaper.brecorder.com/2023/01/17/7-page/952705-news.html | 7 | Business Recorder | |
| TDAP signs MoU with Iranian trade promotion organization An event of signing of Memorandum of Understanding (MoU) between Trade Development Authority of Pakistan and Iran Trade Promotion Organisation was held on Monday at Karachi Expo Centre, in concurrence with First Pakistan Iran Single County Exhibition to be held from 16th to 18th January, 2023. https://epaper.brecorder.com/2023/01/17/7-page/952706-news.html | 7 | Business Recorder | |
| Gold prices sharply down Gold prices on Monday nosedived on the local market, traders said. https://epaper.brecorder.com/2023/01/17/7-page/952704-news.html | 7 | Business Recorder | |
| LCs issue CMOs likely to get force majeure for new projects The government is likely to grant force majeure to cellular mobile operators (CMOs) for 10 new infrastructure projects worth Rs8 billion which are facing serious problems in implementation due to the non-opening of Letters of Credit (LCs) for the equipment’s imports, it is learnt. https://epaper.brecorder.com/2023/01/17/12-page.html | 12 | Business Recorder | |
| SBP issues NOC for incorporation of KT Bank The State Bank of Pakistan (SBP) has issued a no-objection certificate (NOC) for incorporation of the proposed KT Bank Pakistan Limited for establishing the Digital Retail Bank (DRB) under the SBP’s Licensing and Regulatory Framework. https://epaper.brecorder.com/2023/01/17/12-page/952714-news.html | 12 | Business Recorder | |
| Govt makes three financing models for e-bikes The government has reportedly prepared three different financing structures to provide E-Bikes to interested persons, to be finalized after final approval of Economic Coordination Committee (ECC) and Federal Cabinet, well informed sources told Business Recorder. https://epaper.brecorder.com/2023/01/17/12-page/952715-news.html | 12 | Business Recorder | |
| South Korean investor to sell Lotte Chemical Pakistan Ltd to YB Group A South Korean chemical company announced on Monday it’s exiting the Pakistan market after 13 years. https://www.dawn.com/news/amp/1732032 | 9 | Dawn | |
| Ministry, SBP agree to take measures for clearance of palm oil stuck at warehouses In a bid to avert any shortage of ghee/cooking oil in Ramazan, the Ministry of Industries (MoI) and the State Bank of Pakistan (SBP) on Monday agreed to remove bottlenecks for speedy clearance of 385,000 tonnes of palm oil stuck at customs bonded warehouses due to non-retiring of documents. https://www.dawn.com/news/1732033/ministry-sbp-agree-to-take-measures-for-clearance-of-palm-oil-stuck-at-warehouses | 9 | Dawn | |
| Steel bar hits new peak of Rs243,500 While seeking the government’s help in opening letters of credit (LCs) amid fear of industry closure, the manufacturers have pushed up the price of steel bars to an all-time high of Rs243,500 per tonne citing a continuous increase in raw material prices, supply chain disruptions and soaring production cost. https://www.dawn.com/news/1732031/steel-bar-hits-new-peak-of-rs243500 | 9 | Dawn | |
| Easypaisa launches debit card Easypaisa has launched a Visa debit card for its customers. https://www.dawn.com/news/1732028/easypaisa-launches-debit-card | 9 | Dawn | |
| Export sector govt’s priority, Dar insists As the dollar crisis deepens and strong reaction is beginning to appear from almost all sectors of the economy, Finance Minister Ishaq Dar on Monday reiterated that government will facilitate all exporters, including five previously zero-rated sectors, for the import of raw material, parts and accessories to meet their requirements. https://www.dawn.com/news/1732027 | 9 | Dawn | |
| Editorial News | |||
| GDP growth in 2022-23 The World Bank has revised its projection downwards of the GDP growth rate of the economy of Pakistan in 2022-23 from 4% to 2%. https://epaper.brecorder.com/2023/01/17/6-page/952696-news.html | 6 | Business Recorder | |
| 30. |
Currency exchange rates
Countries
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol $ £ € ¥ ﷼, SR Rates 238.75 307.00 272.00 41.00 67.00 | 5 | Business Recorder |