IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS TUESDAY 25th OCTOBER, 2022

S.# Description Pg. # Source
1. New IT return form unveiled for small-scale traders The Federal Board of Revenue (FBR) has notified a simplified income tax return form for small retailers and shopkeepers having an annual turnover of less than Rs10 million. https://epaper.brecorder.com/2022/10/25/1-page/945814-news.html 1 Business Recorder
2. FBR crosses Rs2trn collection mark The Federal Board of Revenue (FBR) has crossed revenue collection figure of Rs2 trillion during the first four months (July-October 24) of 2022-2023. https://epaper.brecorder.com/2022/10/25/1-page/945815-news.html 1 Business Recorder
3. BRACE programme $1.5bn loan agreement signed with ADB
Prime Minister Shehbaz Sharif has expressed gratitude to the Asia Development Bank (ADB) Board for approving US$ 1.5 billion for budget support for Pakistan under the BRACE programme. https://epaper.brecorder.com/2022/10/25/1-page/945809-news.html
1 Business Recorder
4. Zero-rated industries MoF clueless about how to fund concessional power
The top bureaucracy of Finance Ministry is reportedly stumped as to where to arrange Rs 144 billion to ensure supply of electricity to five zero-rated sectors at Rs 19.99/ kWh from October 2022 to June 2023, as well as, payment of the previous amount of subsidy due to Power Division, well informed sources told Business Recorder. https://epaper.brecorder.com/2022/10/25/1-page/945810-news.html
1 Business Recorder
5. PKR: back-to-back gains Pakistan’s rupee recorded back-to-back gains against the US dollar, and registered a marginal improvement of 0.2% in the inter-bank on Monday. https://epaper.brecorder.com/2022/10/25/1-page/945806-news.html 1 Business Recorder
6. Open market sees massive shortage of USD Consumers were left running from pillar to post as the open market ran massively short of US dollars on Monday with transactions happening only through “connections”, as some currency dealers Business Recorder spoke to put it, raising questions on the mechanisms put in place to ensure availability at a time when the rupee is largely stable in the inter-bank market. https://epaper.brecorder.com/2022/10/25/1-page/945807-news.html 1 Business Recorder
7. Nepra’s decisions on NHP censured by Power Div National Electric Power Regulatory Authority (Nepra) has reportedly been censured for its two decisions on Net Hydel Profit (NHP) of provinces, as Power Division says that both determinations are in violation of decisions of Council of Common Interests (CCI) taken in 2016 and 2017, sources close to Chairman Nepra told Business Recorder. https://epaper.brecorder.com/2022/10/25/1-page/945811-news.html 1 Business Recorder
8. KE given Rs12.7/unit tariff hike National Electric Power Regulatory Authority (Nepra) has approved Quarterly Tariff Adjustment (QTA) of Rs12.70 per unit for KE for fourth quarter of FY 2021-22. https://epaper.brecorder.com/2022/10/25/1-page/945812-news.html 1 Business Recorder
9. PSX advances on fresh buying Pakistan Stock Exchange Monday witnessed a positive trend on the back of fresh buying in various sectors. https://epaper.brecorder.com/2022/10/25/1-page/945813-news.html 1 Business Recorder
10. Palm oil imports: All-time high September 2022 Pakis-tan’s highest-ever monthly palm oil import bill. https://epaper.brecorder.com/2022/10/25/2-page/945819-news.html 2 Business Recorder
11. ­Nepra allows Rs12 per unit hike in KE tariff The National Electric Power Regulatory Authority (Nepra) on Monday allowed Rs12.68 per unit increase in power rates for K-Electric under quarterly tariff adjustment (Q TA) for the period April to June FY2021-22, with a net additional revenue of about Rs56bn to the Karachibased private utility. https://epaper.dawn.com/DetailImage.php?StoryImage=25_10_2022_001_005 1 Dawn
12. Kapco seeks renewal of agreement with new tariff Kot Addu Power Company Ltd (Kapco) said on Monday it has submitted a tariff petition to the National Electric Power Regulatory Authority (Nepra) for a reference generation tariff. https://epaper.dawn.com/DetailImage.php?StoryImage=25_10_2022_009_007 9 Dawn
13. Pakistan urged to avail G77`s facility to face disaster Though Pakistan will have to seek another loan from International Monetary Fund (IMF) to help recover from the recent catastrophic floods in the country, a report of Oxfam released on Monday recommends the country to avail the `Loss and Damage Finance Facility` proposed by G77 plus China at the Climate Change Conference of the Parties (COP26). https://epaper.dawn.com/DetailImage.php?StoryImage=25_10_2022_009_008 9 Dawn
14. Cross-stuffing allowed The Federal Board of Revenue (FBR) has allowed the cross-stuffing of goods from one container to another container or any other mode of transportation under the Afghan Transit Trade Agreement (ATTA) and TIR Convention. https://epaper.dawn.com/DetailImage.php?StoryImage=25_10_2022_009_004 9 Dawn
15. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   224.90 253.80 220.90 32.00 59.70
5 Business Recorder

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