IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS WEDNESDAY 14th July, 2021

S.# Description Pg. # Source
1. NTDC secures Rs6,400m financing facility The National Transmission and Despatch Company Ltd (NTDC) has secured Rs 6400 million financing facility from a consortium of Banks (Habib Bank Limited, National Bank of Pakistan & Bank Islami Pakistan Limited). https://epaper.brecorder.com/2021/07/14/1-page/893331-news.html 1 Business Recorder
2. Agri, non-agri products to be registered Federal Minister Fawad Chaudhary said that the federal cabinet has decided to register some agriculture and non-agriculture products pointed out by the Commerce Ministry under Geographical and Indication Protection Act 2020 to maintain their identity. https://epaper.brecorder.com/2021/07/14/1-page/893336-news.html 1 Business Recorder
3. Energy minister briefs Senate Rs100bn to be spent on power distribution system replacement Federal Minister for Energy Hammad Azhar informed the Senate on Tuesday that federal government would spend around 100 billion rupees in this financial year to replace ‘obsolete and redundant’ power distribution system across the country with modern one while government would soon sign a power purchase agreement with K-Electric to address power crisis in Karachi. https://epaper.brecorder.com/2021/07/14/1-page/893333-news.html 1 Business Recorder
4. THE RUPEE: PKR down against USD On Tuesday, PKR went down against USD in interbank market while recording very little movement at day end in open market against major currencies. https://epaper.brecorder.com/2021/07/14/1-page/893340-news.html 1 Business Recorder
5. Wapda chief, PM discuss 10 mega projects Chairman Water and Power Development Authority (Wapda) Lt-Gen Muzammil Hussain (retd) called on Prime Minister Imran Khan here on Tuesday. https://epaper.brecorder.com/2021/07/14/1-page/893332-news.html 1 Business Recorder
6. Remittances hit all-time high of $29.4bn Inflows of workers’ remittances rose to a historic level of $29.4 billion during the last fiscal year (FY21) supported by the government’s proactive policy measures. https://epaper.brecorder.com/2021/07/14/1-page/893337-news.html 1 Business Recorder
7. KSE-100 Index little changed BRIndex100 inches up Pakistan Stock Exchange Tuesday witnessed rangebound activity, however managed to close on slight positive note due to buying in certain stocks at the fag end. https://epaper.brecorder.com/2021/07/14/1-page/893334-news.html 1 Business Recorder
8. PPS income is Rs15bn, expenditures are Rs25.5bn, NA body told The Senate Standing Committee on Communications was informed on Tuesday that the income of the Pakistan Postal Services is around Rs 15 billion, while expenditures are Rs 25.5 billion. https://epaper.brecorder.com/2021/07/14/3-page/893353-news.html 3 Business Recorder
9. FPCCI, KCCI, PYMA join hands to rectify FY22 budget anomalies Three trade bodies including Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Karachi Chamber of Commerce and Industry (KCCI) and Pakistan Yarn Merchants Association (PYMA) have decided make joint efforts to get rectified budget anomalies in the federal budget 2021-22. https://epaper.brecorder.com/2021/07/14/5-page/893370-news.html 5 Business Recorder
10. FPCCI for equal taxation for imported, locally-produced LPG Senior Vice-President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Khawaja Shahzeb Akram on Tuesday called for equal taxation for imported and locally-produced Liquefied Petroleum Gas (LPG) to provide local industry a level playing field. https://epaper.brecorder.com/2021/07/14/11-page/893414-news.html 11 Business Recorder
11. TCP inks MoU with PASSCO for importing 1.5m metric tons of wheat The Trading Corporation of Pakistan (TCP) has entered into a Memorandum of Understanding (MoU) with the Pakistan Agriculture Storage and Services Corporation (PASSCO) under which the TCP will import 1.5 million metric tons of wheat to replenish the buffer stocks held by PASSCO. https://epaper.brecorder.com/2021/07/14/11-page/893419-news.html 11 Business Recorder
12. July-May 2020-21 Output of LSMI increases by 14.57pc The overall output of Large Scale Manufacturing Industries (LSMI) increased by 14.57 percent for July-May 2020-21 compared to July-May 2019-20, as most of the major manufacturing sectors posted growth, the data released by the Pakistan Bureau of Statistics (PBS) showed Tuesday. https://epaper.brecorder.com/2021/07/14/12-page/893425-news.html 12 Business Recorder
13. China, CARs FBR to unveil new transit trade rules The government will take measures to facilitate transshipment and transit trade with China and Central Asian Republics under which the Federal Board of Revenue (FBR) will issue new Transshipment and Transit Trade Rules. https://epaper.brecorder.com/2021/07/14/12-page/893428-news.html 12 Business Recorder
14. LCVs, cars in CBU condition Cabinet defers decision on cut in ACD, RD The Federal Cabinet has deferred the decision on reduction of Additional Customs Duty (ACD) on light commercial vehicles and cars in CBU condition and removal/reduction of Regulatory Duty on import of vehicles in CBU condition and hybrid vehicles, sources in the Commerce Ministry told Business Recorder. https://epaper.brecorder.com/2021/07/14/12-page/893430-news.html 12 Business Recorder
15. Steady trend on cotton market The local cotton market on Tuesday remained s bearish and volume was satisfactory. https://epaper.brecorder.com/2021/07/14/16-page/893439-news.html 16 Business Recorder
16. CDWP gives go-ahead to 5 projects worth Rs405.7bn The Central Development Working Party (CDWP) has given go-ahead to five development projects at the cost of Rs405.7 billion. https://epaper.brecorder.com/2021/07/14/18-page/893465-news.html 18 Business Recorder
17. Industrial production in Sindh increases by 16.83pc in 10 months Industrial production in Sindh increased by 16.83 percent during the first ten months of financial year 2020-21 compared to last fiscal. https://epaper.brecorder.com/2021/07/14/18-page/893468-news.html 18 Business Recorder
18. Big industry grows 37pc in May Large-Scale Manufacturing continues its growth for the fourth consecutive month as its output rose year-on-year by 36.84 percent in May, data released by the Pakistan Bureau of Statistics shows. https://epaper.dawn.com/Advt.php?StoryImage=14_07_2021_001_007 1 Dawn
19. Ice units not liable to be registered can’t be taxed: LHC The Lahore High Court (LHC) has ruled that a person producing “exempt supplies” and not liable to be registered under the Sales Tax Act 1990 cannot be burdened with payment of “further tax” and “extra tax” for non-registration. https://www.dawn.com/news/1634976/ice-units-not-liable-to-be-registered-cant-be-taxed-lhc 14 Dawn
20. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   159.35 221.51 189.50 24.91 42. 53
17   Business Recorder

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