IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS Tuesday 4th May, 2021

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1. Higher growth now govt’s main objective: Tarin Finance Minister Shaukat Tarin said on Monday that a policy has been prepared to shift from stabilisation mode to economic growth, and the International Monetary Fund (IMF) would be asked for providing relief in some conditions – such as increase in electricity tariff – owing to the situation faced by Pakistan. https://epaper.brecorder.com/2021/05/04/1-page/884933-news.html 1 Business Recorder
2. Price trends of essential commodities analysed Minister for Finance and Revenue Shaukat Tarin has directed the respective provincial administrations and concerned departments for strict monitoring of prices of basic commodities as well as sufficient availability of their stocks to provide relief to consumers. https://epaper.brecorder.com/2021/05/04/1-page/884934-news.html 1 Business Recorder
3. Education, other areas IMF says govt required to increase spending Pakistan would require to increase annual spending on education by about 5.7 percent of GDP, six percent on healthcare, invest around $24.5 billion on electricity access and $76 billion on road network to meet the Sustainable Development Goals (SDGs) target by 2030, says the International Monetary Fund (IMF). https://epaper.brecorder.com/2021/05/04/1-page/884935-news.html 1 Business Recorder
4. Govt to vaccinate 70m people by Dec: Faisal Pakistan will vaccinate up to 70 million people against the coronavirus by the end of 2021 and the government is making all out efforts to purchase the required volume of Covid-19 vaccine. https://epaper.brecorder.com/2021/05/04/1-page/884936-news.html 1 Business Recorder
5. Civil servants will be allowed to compete for MP scales In a major policy shift, the Federal Government has reportedly decided to allow civil servants to compete for MP scales for a maximum of five years during their entire service without resigning from government service, well-informed sources told Business Recorder. https://epaper.brecorder.com/2021/05/04/1-page/884928-news.html 1 Business Recorder
6. THE RUPEE: Mixed patterns On Monday, PKR exhibited very mixed movement. It went up for buying while going down for selling against USD in inter-bank market while in open market; it went down against USD for buying while remaining unchanged for selling. https://epaper.brecorder.com/2021/05/04/1-page/884941-news.html 1 Business Recorder
7. Future of 11 power plants Consultation process expedited Power Division has reportedly expedited consultation process on early termination/ buyout of 11 oil-fired power plants of 3319MW, well-informed sources told Business Recorder. https://epaper.brecorder.com/2021/05/04/1-page/884937-news.html 1 Business Recorder
8. Private parties engaged in business with Railways Exemption of 10pc WHT opposed by FBR The Federal Board of Revenue (FBR) has opposed exemption of private parties from 10 percent Withholding Tax (WHT) engaged in business with Pakistan Railways, official sources told Business Recorder. https://epaper.brecorder.com/2021/05/04/1-page/884938-news.html 1 Business Recorder
9. Eid holidays announced The Interior Ministry has announced Eidul Fitr holidays from May 10 to 15 throughout the country, a notification said Monday. https://epaper.brecorder.com/2021/05/04/1-page/884940-news.html 1 Business Recorder
10. ADB launches Asia Pacific Tax Hub The Asian Development Bank (ADB) has launched an Asia Pacific Tax Hub to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing, and strengthen coordination on tax policy and administration among ADB, its members, and development partners. https://epaper.brecorder.com/2021/05/04/1-page/884939-news.html 1 Business Recorder
11. PSX stays depressed BRIndex100 falters Pakistan Stock Exchange Monday remained under heavy pressure due to selling, mainly by local investors in almost all sectors. BRIndex100 lost 44.37 points or 0.94 percent to close at 4,685.53 points. https://epaper.brecorder.com/2021/05/04/1-page/884932-news.html 1 Business Recorder
12. First ever shipment from Pakistan under TIR reaches Tashkent Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood on Monday informed that first-ever shipment from Pakistan under Transports Internationaux Routiers (TIR) reached Tashkent, Uzbekistan in 48 hours from Torkham, Pakistan. https://epaper.brecorder.com/2021/05/04/6-page/884860-news.html 5 Business Recorder
13. Traders to ‘strongly resist’ if complete lockdown imposed: APAT The All Pakistan Anjuman-e-Tajran (APAT) has warned that traders from across the country would strongly resist if the government opted to implement a complete lockdown from May 8 to 16. https://www.brecorder.com/news/40089957/traders-to-strongly-resist-if-complete-lockdown-imposed-apat 11 Business Recorder
14. KSE-100 cos post Rs243bn highest-ever quarterly profits The KSE-100 companies posted highest-ever quarterly profits of Rs 243 billion, during the quarter ended March 31, 2021, up 82 percent on year-on-year and 11 percent on quarter-on-quarter basis. https://epaper.brecorder.com/2021/05/04/12-page/884961-news.html 12 Business Recorder
15. 5.64m cotton bales reach ginneries Seed cotton (Phutti) equivalent to over 5.645 million or exactly 5,645,967 bales have reached ginning factories across the country till May 1, 2021. https://epaper.brecorder.com/2021/05/04/12-page/884968-news.html 12 Business Recorder
16. LHC strikes down CPC ordinance The Lahore High Court on Monday struck down Civil Procedure Code (Punjab Amendment) Ordinance 2021 which the government claimed to have introduced to ensure speedy disposal of cases. https://epaper.brecorder.com/2021/05/04/12-page/884964-news.html 12 Business Recorder
17. Textile exports rally continues The textile exports of Pakistan are experiencing and expecting a second external surge. https://epaper.brecorder.com/2021/05/04/13-page/884892-news.html 13 Business Recorder
18. Sluggish trend remains continues in cotton market The sluggish trend remained continued in the local cotton market on Monday. https://epaper.brecorder.com/2021/05/04/16-page/884899-news.html 16 Business Recorder
19. Govt plans imports to build wheat reserves The government has decided in principle to import wheat for building strategic reserves and ensure steady supply of staple food during the current year. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_009_007 9 Dawn
20. Carmakers ignore middle-class buyers As the Auto Policy 2016-21 nears its end on June 30, 2021, consumers have not witnessed any rolling out of small 800cc or below cars by new international entrants who instead raced towards introducing sports utility vehicles (SUVs) and high engine power models under duty concessions. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_009_002 9 Dawn
21. Oil sales jump 57pc in April The country`s oil sales swelled by 57 per cent to 1.67 million tonnes in April from 1.07m tonnes in April 2020. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_009_005 9 Dawn
22. Over Rs4bn received by freelancers from abroad since January 2020 The country`s freelancers have received more than Rs4 billion since January 2020 using a tech-based solution amid the Covid-19 pandemic, said Ghazanf ar Azzam, president and CEO, Mobilink Microfinance Bank, on Monday. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_009_004 9 Dawn
23. Govt measures fail as Punjab growers still not too keen on cotton Reports being received from the fields suggest that the measures so far taken by the Punjab government have failed to attract growers towards sowing cotton this year. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_009_003 9 Dawn
  Editorial News    
24.  Unmet tax targets HE FBR has increased its tax collection by 14pc to Rs3.8tr this year during the 10-month period from July to Aprilup from Rs3.3tr a year ago. But this amount is not enough. https://epaper.dawn.com/DetailImage.php?StoryImage=04_05_2021_006_002   6 Dawn
25. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   154.45 213.51 185.71 23.98 41. 19
17   Business Recorder

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