IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS TUESDAY 8th June, 2021

S.# Description Pg. # Source
1. Final round of talks with IMF Govt to strive for as much fiscal space as possible The government’s economic team led by finance minister Shaukat Tarin will hold the final round of talks with the International Monetary Fund (IMF) to bring budgetary measures under the Extended Fund Facility (EFF) scope. https://epaper.brecorder.com/2021/06/08/1-page/888919-news.html 1 Business Recorder
2. Annual plan 2021-22 Macroeconomic framework approved by NEC; Sindh CM speaks out on ‘injustices’ A meeting of the National Economic Council (NEC) on Monday approved macroeconomic framework for the next fiscal year with a proposed GDP growth target of 4.8 percent. https://epaper.brecorder.com/2021/06/08/1-page/888921-news.html 1 Business Recorder
3. Domestic consumers using over 700 units Nepra to allow levy of Rs1.25/unit surcharge The National Electric Power Regulatory Authority (Nepra) has agreed in principle to allow federal government to impose a surcharge of up to Rs 1.25 per unit on domestic consumers using over 700 units and other categories of commercial and industrial consumers aimed at cross subsidizing other domestic consumers as “special arrangement in special circumstances.” https://epaper.brecorder.com/2021/06/08/1-page/888923-news.html 1 Business Recorder
4. India seeks to harm Pakistan’s position in basmati markets From biryani to pilau, Pakistan and India’s shared culinary landscape is defined by basmati, a distinctive long-grain rice now at the centre of the latest tussle between the bitter rivals. https://epaper.brecorder.com/2021/06/08/1-page/888917-news.html 1 Business Recorder
5. Covid Package Rs875bn released so far The government has released Rs875 billion during the two years – 2019-20 and 2020-21 – from Rs1,240 billion stimulus package announced to provide relief to people and businesses against the corona pandemic. https://epaper.brecorder.com/2021/06/08/1-page/888920-news.html 1 Business Recorder
6. Markets.Rates.The Rupee THE RUPEE: Fall against $ On Monday after closing, PKR recorded a fall in value against USD in both interbank and open markets going below 155. https://epaper.brecorder.com/2021/06/08/1-page/888926-news.html 1 Business Recorder
7. KSE-100 Index edges up BRIndex100 ends flat Pakistan Stock Exchange Monday witnessed a positive trend and closed in green on the back of local investors’ and institutional support. https://epaper.brecorder.com/2021/06/08/1-page/888918-news.html 1 Business Recorder
8. Covid-19 expenditure ‘AGP to submit special audit report to president’ The Auditor General of Pakistan (AGP) will submit its special audit report on Covid-19 expenditure to the president of Pakistan for approval, an official of the AGP told Business Recorder on condition of anonymity. https://epaper.brecorder.com/2021/06/08/2-page/888933-news.html 2 Business Recorder
9. 300 units’ consumption in April ’21 Nepra approves Rs4.4bn refund to Discos’ consumers The National Electric Power Regulatory Authority (Nepra) Monday approved a refund of Rs 4.4 billion @ paisa 44 per unit, to the consumers of Discos using above 300 units in April 2021 under monthly fuel adjustment mechanism. https://epaper.brecorder.com/2021/06/08/3-page/888939-news.html 3 Business Recorder
10. Income Tax Ordinance FBR contemplating introducing maximum tax cap The Federal Board of Revenue (FBR) is contemplating to introduce a maximum tax cap in the Income Tax Ordinance to promote tax culture in the country, said sources. https://epaper.brecorder.com/2021/06/08/3-page/888942-news.html 3 Business Recorder
11. Rs182.4bn for 92 hydropower and water projects earmarked in PSDP The Federal Government has reportedly earmarked Rs 182.4 billion for 92 hydropower and water projects in Public Sector Development Programme (PSDP) for the fiscal year 2021-22, official sources told Business Recorder. https://epaper.brecorder.com/2021/06/08/10-page/888960-news.html 9 Business Recorder
12. Auto policy 2021-26 pivots towards EEEs The automotive policy 2016-21 has been a success. https://epaper.brecorder.com/2021/06/08/17-page/889018-news.html 17 Business Recorder
13. Petroleum sensitivity: Getting tougher As international crude oil prices have started to rise and calls for Brent at $100/bbl are being heard, panic must be setting in Islamabad, although it may not be apparent yet. https://epaper.brecorder.com/2021/06/08/17-page/889020-news.html 17 Business Recorder
14. Spectrum auction: taking time? In the end, it was a race against time. https://epaper.brecorder.com/2021/06/08/17-page/889019-news.html 17 Business Recorder
15. Upward trend seen on cotton market The local cotton market remained bullish on Monday. https://epaper.brecorder.com/2021/06/08/20-page/889027-news.html 20 Business Recorder
16. Cottage industry to get financing scheme: SBP chief State Bank of Pakistan (SBP) Governor Dr Reza Baqir has said that the central bank is going to initiate a scheme for financing to cottage industry up to Rs10 million without any collateral. https://epaper.brecorder.com/2021/06/08/22-page/889054-news.html 22 Business Recorder
17. Govt proposes sharp cuts on 600 raw material tariff lines The government has approved hefty cuts including exemptions on raw materials under 600 tariff lines to boost import substitutions of consumer industries and promote exports from traditional and non-traditional sectors. https://epaper.dawn.com/DetailImage.php?StoryImage=08_06_2021_009_003 9 Dawn
18. No cut in local ghee, oil rates despite falling world prices The prices of ghee and edible oil have started to ease in the international markets amid the harvest of fresh palm oil crops in Malaysia and Indonesia. https://epaper.dawn.com/DetailImage.php?StoryImage=08_06_2021_009_008 9 Dawn
19. Domestic debt goes up by Rs2tr in 10MFY21 The country`s domestic debt has increased by over Rs2 trillion during the current fiscal year (FY21).  https://epaper.dawn.com/DetailImage.php?StoryImage=08_06_2021_009_004 9 Dawn
20. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   154.65 218.72 188.16 24.31 41. 24
21   Business Recorder

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