IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS WEDNESDAY 27th OCTOBER, 2021

S.# Description Pg. # Source
1. Pakistan wants working group level meeting with KSA to finalise pacts Pakistan is requesting Saudi Arabia to organize a Working Group level meeting to finalise pacts including import of LNG, investment in refining and petrochemical sectors and supply of crude oil and petroleum products, to be made part of the agenda of the two countries, well informed sources told Business Recorder. https://epaper.brecorder.com/2021/10/27/1-page/905357-news.html 1 Business Recorder
2. Railways tries to get back on the rails Pakistan Railways has decided to outsource the commercial management operations of passenger trains by inviting expressions of interest (EoIs) via a publication. https://epaper.brecorder.com/2021/10/27/1-page/905358-news.html 1 Business Recorder
3. KE allowed paisa 69 raise in July tariff National Electric Power Regulatory Authority (NEPRA) has allowed Karachi Electric (KE) to increase its tariff by paisa 69 per unit for July, 2021 under monthly Fuel Component Adjustment (FCA) to be applicable to all categories of consumers except lifeline consumers. https://epaper.brecorder.com/2021/10/27/1-page/905359-news.html 1 Business Recorder
4. CPEC carries no ‘hidden’ debt: Umar Federal Planning and Development Minister Asad Umar said that misinformation was spread about the CPEC loan and clarified that the Chinese debt is only 26 percent of the total external liabilities of Pakistan. https://epaper.brecorder.com/2021/10/27/1-page/905360-news.html 1 Business Recorder
5. THE RUPEE: PKR crosses even 175 mark Pakistan’s rupee dropped to another all-time low against the US dollar, closing above the 175 level for the first time in the inter-bank market on Tuesday. https://epaper.brecorder.com/2021/10/27/1-page/905364-news.html 1 Business Recorder
6. Finance for low-income segments PBA announces strategic partnership with consortium
The Pakistan Banks’ Association (PBA) has announced a strategic partnership with a consortium of leading financial services and technology businesses to improve access to finance for low-income segments of the population. https://epaper.brecorder.com/2021/10/27/1-page/905361-news.html
1 Business Recorder
7. Downtrend persists on PSX BRIndex100 rangebound
Sentiments at Pakistan Stock Exchange (PSX) remained negative on Tuesday amid profit-taking and economic uncertainty. https://epaper.brecorder.com/2021/10/27/1-page/905362-news.html
1 Business Recorder
8. Traders stage sit-in against PoS system The unionized traders, on Tuesday, staged a protest sit-in, seeking a presidential ordinance to eradicate corruption in the Federal Board of Revenue (FBR) and end installation of point-of-sale (PoS) machine system for the traders. https://epaper.brecorder.com/2021/10/27/3-page/905378-news.html 3 Business Recorder
9. PPDA threatens to go on strike The Pakistan Petroleum Dealers Association (PPDA) on Tuesday announced to observe a country wide strike from November 05, 2021, to press the government for acceptance of its demands. https://epaper.brecorder.com/2021/10/27/3-page/905380-news.html 3 Business Recorder
10. Rs50bn tax revenue collected through e-Pay Punjab Through the online payment solution e-Pay Punjab, the Punjab Finance Department has collected Rs 50 billion as tax revenue against over 10 million transactions to date. https://epaper.brecorder.com/2021/10/27/3-page/905377-news.html 3 Business Recorder
11. Notices under taxation law SC allows FBR’s plea against LHC judgement
The Supreme Court allowed a Federal Board of Revenue (FBR) petition against the Lahore High Court (LHC)’s judgment regarding Commissioner Inland notices to M/S Master Tile & Ceramics Industries (Pvt) Limited, Gujranwala under Section 111 (1)(a) and 111(2) of Income Tax Ordinance 2001. https://epaper.brecorder.com/2021/10/27/4-page/905388-news.html
4 Business Recorder
12. Asia-Pacific and South Asia FPCCI for forging geoeconomic alliance
FPCCI president Mian Nasser Hyatt Maggo has urged the Confederation of Asia-Pacific Chambers of Commerce & Industry (CACCI) members to forge a formidable geoeconomic alliance between Asia-Pacific and South Asia to capitalize on the emerging and untapped multilateral trade potential. https://epaper.brecorder.com/2021/10/27/5-page/905394-news.html
5 Business Recorder
13. Broadening tax base Data of power, gas cos and property registrar being utilized
The government has maintained that continuous efforts are being made to broaden the tax base and for this purpose data of power and gas companies as well as motorway vehicles registration authority and property registrar was being used. https://epaper.brecorder.com/2021/10/27/7-page/905405-news.html
7 Business Recorder
14. Gold prices rise The weakening rupee value against the US dollar has scaled up gold prices on the local market, traders said on Tuesday. https://epaper.brecorder.com/2021/10/27/7-page/905404-news.html 7 Business Recorder
15. Tariff hike: will power demand keep up? September 2021 power generation statistics show another monthly high. https://epaper.brecorder.com/2021/10/27/13-page/905452-news.html 13 Business Recorder
16. Cotton prices depict more strength Spot rate on Tuesday was increased by Rs 100 per maund by the spot rate committee of the Karachi Cotton Association (KCA) pushing it to Rs 15,300 per maund from Monday’s rate of Rs 15,200 per maund. https://epaper.brecorder.com/2021/10/27/16-page/905458-news.html 16 Business Recorder
17. Disclosure of tokens in products All paint makers have fully complied with order: CCP
The Competition Commission of Pakistan (CCP) has conducted a survey of the paint industry and declared that all the paint manufacturers have now fully complied with the commission’s directions to disclose the presence/insertion of tokens in their paint products. https://epaper.brecorder.com/2021/10/27/18-page/905477-news.html
18 Business Recorder
18. Saudi govt revives $3bn support to Pakistan Saudi Arabia has agreed to revive its financial support to Pakistan, including about $3 billion in safe deposits and $1.2bn to $1.5bn worth of oil supplies on deferred payments. https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_001_001 1 Dawn
19. Stockbrokers decry glitch-ridden DTS platform Stockbrokers are up in arms following the implementation of the Designated Time Schedule (DTS), a trading and surveillance platform that the Pakistan Stock Exchange (PSX)introduced at the beginning of the current week. https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_009_002 9 Dawn
20. Dhabeji SEZ expected to generate $1bn investment: CM`s aide Special Assistant to the Chief Minister for Investment Department and Public Private Partnership Syed Qasim Naveed Qamar said on Tuesday the Dhabeji Special Economic Zone (SEZ) project was a top priority project under the industrial cooperation phase of the China-Pakistan Economic Corridor (CPEC). https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_009_006 9 Dawn
21. Profits outflow down by 17pc in 1QFY22 The outflow of profits and dividends from the country declined by over 17 per cent during the first quarter of FY22, reflecting low investment made by foreign companies. https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_009_003 9 Dawn
22. Duty drawback rates on chemicals notified The Federal Board of Revenue (FBR) has notified new duty drawback rates on the export of various chemicals. https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_009_008 9 Dawn
  Editorial News    
23. Escalating prices NE question being asked by almost every Pakistani today is: for how long will we have to suffer food price inflation and how far will it go? Based on the data signifying the linear upward movement in prices, especially of food and energy, over the last three years, these questions are valid. https://epaper.dawn.com/DetailImage.php?StoryImage=27_10_2021_006_001 6 Dawn
24. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   174.35 240.03 202.61 27.63 46.54
17 Business Recorder

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