IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS TUESDAY 26th OCTOBER, 2021

S.# Description Pg. # Source
1. Friendly countries IMF outcome thus hinges on debt rollover
An International Monetary Fund (IMF) condition for the successful conclusion of the ongoing sixth review talks with Pakistan authorities is the rollover of debt from friendly countries, including $1 billion from Saudi Arabia.  https://epaper.brecorder.com/2021/10/26/1-page/905211-news.html
1 Business Recorder
2. Circular debt reaches Rs2.294trn in July-August The country’s circular debt has reached Rs2.294 trillion during the first two months (July-August) 2021-22 as compared to Rs2.237 trillion in the same period 2020-21. https://epaper.brecorder.com/2021/10/26/1-page/905212-news.html 1 Business Recorder
3. Increase in electricity tariff Nepra blames dollar indexation, capacity payment to power plants
National Electric Power Regulatory Authority (NEPRA) said on Monday that the main reasons for the increase in electricity tariff are dollar indexation and capacity payments to power plants. https://epaper.brecorder.com/2021/10/26/1-page/905213-news.html
1 Business Recorder
4. THE RUPEE: PKR declines further on uncertainty over IMF talks Pakistan’s rupee continued to depreciate against the US dollar, falling another 0.25% to close at 174 .43 in the inter-bank market on Monday. https://epaper.brecorder.com/2021/10/26/1-page/905216-news.html 1 Business Recorder
5. Govt accepts rise in sugar, cooking oil, ghee prices An increase of 13.5 percent in the price of sugar has been recorded during the last one year (September 2020-2021), 37.3 percent in the price of cooking oil, and 40.7 percent in the price of vegetable ghee. https://epaper.brecorder.com/2021/10/26/1-page/905214-news.html 1 Business Recorder
6. PSX witnesses dull trading BRIndex100 lacks luster
Pakistan Stock Exchange (PSX) Monday closed negative on lackluster activity on the first trading day of the week due to uncertainty over the outcome of Pak-IMF talks and political uncertainty. https://epaper.brecorder.com/2021/10/26/1-page/905215-news.html
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7. DCs directed to ensure sugar sale at govt-notified prices Cane Commissioner Punjab Muhammad Zaman Wattoo taking notice of unbridled increasing prices of the locally-produced sugar has directed all the deputy commissioners across the province to ensure white refined sugar at the government notified prices. https://epaper.brecorder.com/2021/10/26/2-page/905221-news.html 2 Business Recorder
8. Prolonged civil litigations Farogh identifies stumbling block to foreign investors
Federal Law Minister Dr Farogh Nasim on Monday said that the menace of prolonged civil litigation in the country had been a real hurdle in the way of foreign investors. https://epaper.brecorder.com/2021/10/26/3-page/905234-news.html
3 Business Recorder
9. Banking channel with Central Asian states SCCI urges SBP to evolve proper mechanisation
Sarhad Chamber of Commerce and Industry (SCCI) has urged the State Bank of Pakistan (SBP) to establish a proper mechanization in banking channel with Central Asian countries for ease and smooth trade and also for financial transactions. https://epaper.brecorder.com/2021/10/26/3-page/905235-news.html
3 Business Recorder
10. Local cellphones’ production exceeds commercial imports The production of mobile phones by local manufacturing plants has surpassed the number of commercial mobile phones imports in the country during January-September 2021 as the local production was recorded at 16.15 million compared to the imported mobile phones of 9.02 million. https://epaper.brecorder.com/2021/10/26/4-page/905238-news.html 4 Business Recorder
11. Fifth edition of Pakistan Industrial Expo 2021 from 29th Fifth edition of Pakistan Industrial Expo named as ‘China-Pakistan Industrial Expo 2021’ is going to be held from October 29th to 31st 2021 in the provincial metropolis with 104 leading Chinese manufacturing companies coming to showcase solutions regarding CNC Machinery, Construction, Renewable Energy, Building Material, Agricultural Machinery, Plastic Machinery, Hardware, Chemical, and Auto & Parts. https://epaper.brecorder.com/2021/10/26/7-page/905260-news.html 7 Business Recorder
12. Evacuating power from Dasu Dam NTDC to construct 765kv transmission line
The National Transmission & Despatch Company (NTDC) will construct the first-ever biggest transmission line project of 765kv Islamabad West Sub-station to evacuate power from the Dasu Hydropower Project, said sources from the Ministry of Energy. https://epaper.brecorder.com/2021/10/26/11-page/905292-news.html
11 Business Recorder
13. Jul-Sept $3.204bn foreign debt incurred in 1Q
Pakistan incurred foreign debt of $3.204 billion from multiple financing sources in the first quarter (July-September) of 2021-22 including $457.54 million from foreign commercial banks (14 percent) against the total budgeted external loans of $14.088 billion for the entire fiscal year. https://epaper.brecorder.com/2021/10/26/11-page/905293-news.html
11 Business Recorder
14. Dasu Dam: Chinese co resumes work Minister for Water Resources, Moonis Elahi has claimed that the Chinese company has resumed work on 4,300MW Dasu hydropower project. https://epaper.brecorder.com/2021/10/26/12-page/905298-news.html 12 Business Recorder
15. PAKT’s strong quarter The post-budget quarter was a plentiful one for the tobacco giant. As per its latest financials released to the bourse for three-month period ended September 30, 2021, Pakistan Tobacco Company (PSX: PAKT) scored a strong 36 percent yearly increase in its net turnover and achieved a 28 percent annual increase in its bottomline. https://epaper.brecorder.com/2021/10/26/13-page/905304-news.html 13 Business Recorder
16. LSM: Still off the peak The Large-Scale Manufacturing (LSM) growth is back to the merry ways – registering 12.7 percent year-on-year growth for August. https://epaper.brecorder.com/2021/10/26/13-page/905302-news.html 13 Business Recorder
17. Spot rate gains further amid hectic business The Spot Rate Committee of the Karachi Cotton Association on Monday increased the spot rate by Rs 200 per maund and closed it at Rs 15200 per maund. https://epaper.brecorder.com/2021/10/26/16-page/905309-news.html 16 Business Recorder
18. Gold prices soar further The prices of gold on Monday kept growing on the local market, traders said. https://epaper.brecorder.com/2021/10/26/18-page/905332-news.html 18 Business Recorder
19. Hasina desires stronger trade ties between BD, Pakistan Prime Minister of Bangladesh Sheikh Hasina on Monday reiterated her government`s desire for stronger trade ties and economic collaboration with Pakistan. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_001_001 1 Dawn
20. Prices of food items see surge in three years From plain bread and milk to flour and cooking oil, Pakistanis are paying substantially more than they did a year ago for just about all everyday food items. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_001_006   1 Dawn
21. Quetta-Chaman highway blocked by protesting traders Vehicular traffic between Quetta and Chaman was suspended on Monday as workers of the All Parties Traders Alliance and labourers who work at Pak-Afghan border blocked Quetta Chaman highway at Khojak Pass to protest against the closure of the border crossing for the last 20 days. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_005_005 5 Dawn
22. Ministry tight-lipped on `tense` IMF talks The Ministry of Finance continues to keep mum about the outcome of its long negotiations with the International Monetary Fund (IMF) for the revival of its $6 billion Extended Fund Facility (EFF) as authorities reported to have received about $3.2bn in foreign assistance in the first quarter of the current fiscal year. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_009_007 9 Dawn
23. Pakistan Petroleum earnings rise to Rs16.9bn Pakistan Petroleum Ltd said on Monday its earnings for July-September amounted to Rs16.9 billion, up 18 per cent from a year ago. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_009_003 9 Dawn
24. IT export proceeds hit $635m in 1QFY22 Pakistan`s exports of information technology grew by 42 per cent on a year-on-year basis in the first quarter of current fiscal year. https://epaper.dawn.com/DetailImage.php?StoryImage=26_10_2021_009_006 9 Dawn
25. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   174.00 239.82 203.32 27.59 46.40
17 Business Recorder

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