IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS WEDNESDAY 24th NOVEMBER, 2021

S.# Description Pg. # Source
1. PM says higher growth govt’s key objective Prime Minister Imran Khan on Tuesday said that with focus on increasing investments in export industry for creating employment opportunities, the government was taking steps on priority basis to enhance economic activity in the country. https://epaper.brecorder.com/2021/11/24/1-page/908774-news.html 1 Business Recorder
2. Local supply to be zero-rated 17pc GST may be levied on import of pharma inputs
The government may impose 17 percent sales tax on the import of various kinds of plant, machinery/equipment, mobile phones, computers, and raw materials used in the manufacturing pharmaceutical products, but local supply of medicines would be sales tax zero-rated. https://epaper.brecorder.com/2021/11/24/1-page/908775-news.html
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3. ‘Track and trace’ system for sugar industry launched Prime Minister Imran Khan Tuesday said there is a need to increase the tax collection because the country’s stability is at stake, owing to debt burden and its repayment, and the government does not have the money for investment in various sectors, including agriculture and the welfare of the people. https://epaper.brecorder.com/2021/11/24/1-page/908776-news.html 1 Business Recorder
4. Determination of prices of 38 new drugs approved by cabinet Federal Minister for Information and Broadcasting Fawad Chaudhry said on Tuesday that the federal cabinet has approved determination of 38 new medicines prices. https://epaper.brecorder.com/2021/11/24/1-page/908777-news.html 1 Business Recorder
5. THE RUPEE: Rupee strengthens The rupee appreciated for the second consecutive day against the US dollar, gaining another 0.27% in the inter-bank market on Tuesday. https://epaper.brecorder.com/2021/11/24/1-page/908780-news.html 1 Business Recorder
6. PC questions viability of Chasnupp-5 Planning Commission has reportedly raised a volley of questions on viability of Chashma Nuclear Power Project-5 (C-5) including its approval by the Prime Minister and substantial revised cost, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/11/24/1-page/908778-news.html 1 Business Recorder
7. Meltdown continues Pakistan Stock Exchange Tuesday witnessed a bearish trend and closed in deep red on the second consecutive day due to across-the-board selling on investor concerns over more than expected increase in interest rate. https://epaper.brecorder.com/2021/11/24/1-page/908779-news.html 1 Business Recorder
8. Millers allowed to supply flour to other provinces as well Following successful negotiation between the Punjab Food Department and the Pakistan Flour Mills Association (PFMA) Punjab chapter, the government has allowed the flour millers to supply flour in white bags to Khyber Pakhtunkhwa and other provinces. https://epaper.brecorder.com/2021/11/24/3-page/908793-news.html 3 Business Recorder
9. FBR to extend track, trace system to other key sectors: chairman The Federal Board of Revenue (FBR) Chairman, Dr Muhammad Ashfaq Ahmed, said Tuesday that the FBR will extend the track and trace system to other key sectors including beverages, petroleum, pharmaceuticals, and steel for which a proposal will be submitted to the prime minister for approval. https://epaper.brecorder.com/2021/11/24/4-page/908801-news.html 4 Business Recorder
10. SECP amends regulations to facilitate SMEs, startups The SECP has introduced amendments in the Companies (Further Issue of Shares) Regulations, 2020 to address the impediments faced by the corporate sector, particularly startups and small companies, in raising equity through conventional modes. https://epaper.brecorder.com/2021/11/24/4-page/908803-news.html 4 Business Recorder
11. LCCI delegation tells President Rising inflation, PKR slide hitting all sectors of economy
The Lahore Chamber of Commerce & Industry (LCCI) on Tuesday informed President Dr Arif Alvi that galloping inflation and high dollar rate are hitting hard all segments of economy therefore it is essential to overcome these challenges to give relief to the businessmen. https://epaper.brecorder.com/2021/11/24/7-page/908822-news.html
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12. PSM core assets Another valuation to lure investors on the cards
Privatisation Commission (PC) is said to have decided to go for another valuation of core assets of Pakistan Steel Mills (PSM), fearing that investors will not show an interest in purchase of 51- 74 per cent stakes on the basis of first valuation, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/11/24/7-page/908825-news.html
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13. MoU on onion export to China inked The Ministry of National Food Security and Research (MNFS&R) and China’s General Administration of Customs China (GACC) Tuesday signed a memorandum of understanding (MoU) for Pakistan onion export to China. https://epaper.brecorder.com/2021/11/24/11-page/908858-news.html 11 Business Recorder
14. ‘Monetary Policy Statement’: clarification by SBP With regard to the editorial in Business Recorder dated November 22, 2021 titled “Monetary Policy Statement”, the State Bank of Pakistan would like to clarify some of the points raised. https://epaper.brecorder.com/2021/11/24/11-page/908855-news.html 11 Business Recorder
15. Cooking oil, ghee sector: CCP to resume its probe The Competition Commission of Pakistan (CCP) will resume its enquiry in the cooking oil and ghee sector after the Supreme Court of Pakistan admitted for hearing its leave to appeal against, and suspended, the decision of the Islamabad High Court dated 14 September 2021. https://epaper.brecorder.com/2021/11/24/12-page/908864-news.html 12 Business Recorder
16. Cos having Afghan subscribers SECP abolishes condition of MoI’s clearance
The Securities and Exchange Commission of Pakistan (SECP) has abolished the condition of security clearance from the Ministry of Interior (MoI) of companies having foreign subscribers/officers who are Afghan national or of Afghan origin. https://epaper.brecorder.com/2021/11/24/12-page/908865-news.html
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17. Oil prices: interesting times ahead! Pakistan external account is almost always in stress when the international oil prices hover over $70-80 mark. Current account slips due to higher import bill.  https://epaper.brecorder.com/2021/11/24/13-page/908873-news.html 13 Business Recorder
18. Poultry prices normalizing? Earlier this week, BR Research noted that while poultry prices may be showing a growth spurt, it is no cause for panic. https://epaper.brecorder.com/2021/11/24/13-page/908875-news.html 13 Business Recorder
19. Business activity improved on cotton market The Spot Rate on Tuesday remained unchanged at Rs 17500 per maund amid improved trading activity. The Spot Rate remained unchanged at Rs 17500 per maund. The Polyester Fiber was available at Rs 250 per kg. https://epaper.brecorder.com/2021/11/24/16-page/908878-news.html 16 Business Recorder
20. Qatar gets nod to buy stake in LNG terminal The CCP clears state-run Qatar Energy’s bid to acquire 49 percent stakes in an upcoming private sector LNG terminal, paving the way for Qatar’s first direct investment in Pakistan’s energy market. https://epaper.dawn.com/Advt.php?StoryImage=24_11_2021_001_002 1 Dawn
21. Pakistan stresses need for boosting intra-regional investments Pakistan has proposed a regular interaction and exchanges among investment promotion agencies of the South Asian region to ensure trust building and exploring investment opportunities. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_003_008 3 Dawn
22. ‘Climate change main cause of economic instability, food insecurity’ Climate change in Pakistan is the cause of economic instability, food insecurity, biodiversity loss and serious health issues, posing an existential threat that has pushed vulnerable people to hunger, unemployment and poverty. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_004_004 4 Dawn
23. Cabinet okays Rs134bn payment to IPPs The federal cabinet green lighted the payment of Rs134 billion to independent power producers (IPPs) as a second instalment, Minister for Information and Broadcasting Fawad Chaudhry said on Tuesday. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_009_003 9 Dawn
24. Phase 1 of Kurram Tangi dam to be completed by June 2023 First stage of Kurram Tangi dam project, being constructed in North Waziristan district of Khyber Pakhtunkhwa, will be completed by June 2023. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_009_004 9 Dawn
25. NA panel recommends fixing tobacco price at Rs260 a kilo The parliamentary committee on agriculture products on Tuesday recommended that the minimum price of tobacco should be fixed at Rs260 per kilo-gramme. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_009_007 9 Dawn
26. Protocol singed for export of onion to China Pakistan will export onion to China under a protocol signed on Tuesday, paving the way for more Pakistani agriculture products to reach Chinese markets. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_009_008 9 Dawn
27. Qatar gets clearance to buy stake in LNG terminal The Competition Commission of Pakistan (CCP) on Tuesday cleared state-run Qatar Energy`s bid to acquire 49 per cent stakes in an upcoming private sector LNG terminal, paving the way for Qatar`s first direct investment in Pakistan`s energy market. https://epaper.dawn.com/DetailImage.php?StoryImage=24_11_2021_012_003 12 Dawn
  International News    
28. States must brace for ‘shocks’ to agri-food systems: FAO Countries must prepare for future “shocks” to their agricultural and food systems from droughts, floods or diseases following the fallout from the coronavirus pandemic, a UN agency said Tuesday. https://epaper.brecorder.com/2021/11/24/1-page/908773-news.html 1 Business Recorder
  Editorial News    
29. Reservations of Chinese cos must be addressed The China Pakistan Economic Corridor (CPEC) Authority Chairman, Khalid Mansoor, briefed senior representatives of Chinese companies on developments and opportunities available in Pakistan. https://epaper.brecorder.com/2021/11/24/6-page/908816-news.html 6 Business Recorder
30. Property tax on villages Apparently, the Punjab government is itching to bring property in villages into the ambit of tax.  https://epaper.brecorder.com/2021/11/24/6-page/908818-news.html 6 Business Recorder
31. More pain to come THE scale of fiscal adjustments the IMF has ordered the government to make over the next several weeks for the resumption of its stalled $6bn funding program is intimidating. https://epaper.dawn.com/DetailNews.php?StoryText=24_11_2021_006_002 6 Dawn
32. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   176.50 236.00 198.00 28.00 46.90
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