IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS WEDNESDAY 13th OCTOBER, 2021

S.# Description Pg. # Source
1. Govt awakens to need for winter gas load management plan Winter gas load management plan is being prepared, which would be presented to the Federal Cabinet for approval further; and all-out efforts will be made to ensure maximum supply of gas to different sectors, a parliamentary panel was informed Tuesday. https://epaper.brecorder.com/2021/10/13/1-page/903859-news.html 1 Business Recorder
2. OMAP anticipates fuel crisis The Oil Marketing Association of Pakistan (OMAP) apprehends severe fuel crisis if the government did not address the issues like reluctance of banks to open Letter of Credit of oil marketing companies.  https://epaper.brecorder.com/2021/10/13/1-page/903860-news.html 1 Business Recorder
3. Pakistan: IMF projects 4pc GDP growth for 2022 The International Monetary Fund (IMF) has projected GDP growth rate for Pakistan at four percent for 2022 against 3.9 percent in 2021. https://epaper.brecorder.com/2021/10/13/1-page/903856-news.html 1 Business Recorder
4. PKR crosses 171 mark Pakistan’s rupee continued to fall for the second successive day, 11.76 points or 0.26 percent to close at 4,563.16 points. https://epaper.brecorder.com/2021/10/13/1-page/903858-news.html 1 Business Recorder
5. PSX manages to close in green BRIndex100 inches up
Pakistan Stock Exchange Tuesday remained under heavy selling pressure, however fresh buying in almost all sectors at the fag end supported the market to close on a positive note. https://epaper.brecorder.com/2021/10/13/1-page/903858-news.html
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6. Fault in submarine cable causes internet disruption A submarine cable fault was reported on Monday near Fujairah, UAE due to which some users faced degradation in services, said Pakistan Telecommunication Authority (PTA). https://epaper.brecorder.com/2021/10/13/2-page/903874-news.html 2 Business Recorder
7. Govt decides to allow US firm to repatriate money The Government has decided to allow an American firm, M/s Alico, to repatriate money of Metlife Alico after Commerce Ministry accepted its fault in interpretation of decision of the Economic Coordination Committee (ECC_ taken in 1993. well informed sources told Business Recorder. https://epaper.brecorder.com/2021/10/13/3-page/903881-news.html 3 Business Recorder
8. SECP introduces concept of ‘Regulatory Sandbox’ The Securities and Exchange Commission of Pakistan (SECP) has introduced the concept of Regulatory Sandbox, which provides a tailored regulatory environment to conduct limited-scale live tests of innovative products, services and business models under the regulator’s oversight. https://epaper.brecorder.com/2021/10/13/4-page/903890-news.html 4 Business Recorder
9. Dec, Jan: Global traders show no interest in LNG supply Global RLNG traders have shown no interest in supply of liquefied natural gas (LNG) for December and January 2022 due to delay in inviting tenders, Ghiyas Abdullah Paracha, CEO of Universal Gas Distribution Company (UGDC) and Central leader of All Pakistan Compressed Natural Gas Association (APCNGA) told Business Recorder. https://epaper.brecorder.com/2021/10/13/4-page/903892-news.html 4 Business Recorder
10. IMF: PPP urges govt to take parliament into confidence Pakistan People’s Party (PPP) has urged the Pakistan Tehreek-e-Insaf (PTI) government to take Parliament into confidence on the terms and conditions of agreement with International Monetary Fund (IMF) for the revival of the Fund program. https://epaper.brecorder.com/2021/10/13/4-page/903893-news.html 4 Business Recorder
11. Expert for integrating agri sector with ‘circular economic model’ Integrating agriculture sector into “circular economic model” can resolve Pakistan’s economic, social, environmental, food shortage and inflation problems. The circular economic model will also play an instrumental role in achieving a number of United Nations-Sustainable Development Goals-2030 (UN-SDGs), said Pakistan Businesses Forum (PBF) Vice President Ahmad Jawad. https://epaper.brecorder.com/2021/10/13/5-page/903894-news.html 5 Business Recorder
12. ‘Pakistan is test case for FATF’s fairness’: Farogh Minister for Law and Justice Farogh Naseem has said that Pakistan implemented almost all points of the Financial Action Task Force (FATF) to come out of its grey list, hoping the forum would not be used for any political move. https://epaper.brecorder.com/2021/10/13/7-page/903912-news.html 7 Business Recorder
13. Small and Household Manufacturing Industries (SHMIs) PBS report provides data on economic variables
Comparing Small and Household Manufacturing Industries (SHMIs) 2015 with SHMIs 2006-07 and 1996-97, it has been observed that overall manufacturing units have increased with an annual growth rate of 6.51 percent over this period as household establishments increased by 10.92 percent, while small establishments increased by 1.58 percent, says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2021/10/13/11-page/903945-news.html
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14. Punjab likely to achieve increased rice production this year Punjab is likely to achieve 5.645 million tons of rice production this year (2021-22) as compared to 5.301 million tons achieved during the corresponding period 2020-21, showing an increase of 6.5 percent. https://epaper.brecorder.com/2021/10/13/11-page/903946-news.html 11 Business Recorder
15. SNGPL, SSGC consumers Increase in prices notified
The Oil and Gas Regulatory Authority (Ogra) Tuesday notified an increase in the prices of $0.4294 per mmbtu for the consumers of the Sui Northern Gas Pipelines Limited (SNGPL) and $0.4362 per mmbtu for system gas users of the Sui Southern Gas Company (SSGC) for October. https://epaper.brecorder.com/2021/10/13/12-page/903950-news.html
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16. GST collection by FBR, SRB PBC seeks clarity from Tarin
The Pakistan Business Council (PBC) has approached Finance Minister Shaukat Tarin for clarity apropos, which portion of the sales tax on sale of goods by member companies through their distributors need to be deposited with Federal Board of Revenue (FBR) and which with the Sindh Revenue Board (SRB). https://epaper.brecorder.com/2021/10/13/12-page/903957-news.html
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17. Govt agrees to pass withheld power tariff raise on to consumers The government has reportedly agreed to pass the withheld determined power tariff increase of Rs 1.39 per unit to consumers in phases, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/10/13/12-page/903953-news.html 12 Business Recorder
18. Immovable properties FBR decides to revise upward values
The Federal Board of Revenue (FBR) has finally decided to revise upward the values of the immovable properties to bring them at par with the prevailing market rates. https://epaper.brecorder.com/2021/10/13/12-page/903955-news.html
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19. 2.213m tax returns with Rs41.895bn deposits received: FBR The Federal Board of Revenue (FBR) has received 2.213 million income tax returns for the Tax Year 2021 with huge amount of tax deposit of Rs41.895 billion up to October 12, 2021. https://epaper.brecorder.com/2021/10/13/12-page/903951-news.html 12 Business Recorder
20. Immoveable properties FBR’s deadline for submission of revised valuations to end today
The Federal Board of Revenue’s deadline for submission of revised valuation of immoveable properties by all the field formations will conclude on Wednesday (today). https://epaper.brecorder.com/2021/10/13/13-page/903964-news.html
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21. FBR Member vows Customs’ support to exporters Dr Mubashir Baig, Collector of Customs Appraisement, Lahore has assured exporters of maximum assistance and facilitation by Pakistan Customs in export of goods to overseas markets.   https://epaper.brecorder.com/2021/10/13/13-page/903963-news.html 13 Business Recorder
22. Cotton market remains stable The local cotton market on Tuesday remained stable and trading volume remained satisfactory. https://epaper.brecorder.com/2021/10/13/16-page/903965-news.html 16 Business Recorder
23. Household manufacturing units grew 6.51pc annually in 10 years: survey Small-scale industrial establishments and household manufacturing units have posted an annual growth of 1.58 per cent and 6.51pc, respectively, over the past 10 years, said a survey report of the Pakistan Bureau of Statistics (PBS). https://epaper.dawn.com/DetailImage.php?StoryImage=13_10_2021_003_010 3 Dawn
24. Auto sales post robust growth in 1QFY22 Sales scenario of the entire auto sector during the first quarter of FY22 remained encouraging with 80.6 per cent jump in car sales followed by 100pc in trucks, 132.6pc in jeeps, 95pc in LCVs and 12pc in farm tractors. https://epaper.dawn.com/DetailImage.php?StoryImage=13_10_2021_009_007 9 Dawn
  International News    
25. IMF lowers global growth outlook Persistent supply chain disruptions and inflation pressures are constraining the global economy’s recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as it cut growth outlooks for the United States and other major industrial powers. https://epaper.brecorder.com/2021/10/13/1-page/903855-news.html 1 Business Recorder
26. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   170.70 232.15 197.68 26.74 45.57
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