Important Business News Saturday 9th January 2021

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1. ‘Digital’ step to help contain inflation: PM Prime Minister Imran Khan on Friday said the digital system launched by the government to monitor availability and prices of essential commodities would effectively help contain inflation besides ensuring transparency and greater efficiency in policy-making. 1     Business Recorder
2. SPI up 0.06pc WoW The Sensitive Price Indicator (SPI) for the week ended on January 7, 2021, recorded an increase of 0.06 percent over last week due to rise in prices of food items including sugar (7.21 percent), chilies powder (5.54 percent), mustard oil (2.72 percent), gur (1.56 percent), cooking oil 5 litre (1.51 percent), and non-food items LPG (10.02 percent), petrol (2.15 percent), diesel (1.66 percent), said the Pakistan Bureau of Statistics (PBS). 1   Business Recorder
3. MoC all set to finalise NFLP The Ministry of Communications (MoC) is all set to give final touches to the National Freight and Logistic Policy (NFLP) aimed at ensuring the transportation of goods domestically and internationally at competitive rates, official sources told Business Recorder. 1 Business Recorder
4. Markets.Rates.The Rupee THE RUPEE: Loss against USD
On Friday, after markets closed on weekend, Pakistan Rupee recorded loss against US Dollar in both interbank and open markets. It also went down against AED and SR in open market while going up against Euro.
1   Business Recorder
5. Export of Kinnow halts due to sit-in Export of Kinnow has suspended due to sit-in of protestors at different places in Karachi. 1 Business Recorder
6. H1 workers’ remittances post 25pc growth Inflows of workers’ remittances maintained a strong momentum and posted a healthy growth of some 25 percent during the first half (July-Dec) of this fiscal year (FY21). 1 Business Recorder
7. Oil, banking scrips lead PSX gains BRIndex100 extends rally
Pakistan Stock Exchange Friday witnessed a bullish trend on the back of healthy buying by local and foreign investors.
1 Business Recorder
8. Gold prices fall by Rs700 Gold prices on Friday went further down by Rs 700 per tola on the local market, traders said. 3 Business Recorder
9. POS integration: FBR to resolve issues hindering smooth implementation The Federal Board of Revenue (FBR) is set to finalize the issues hindering smooth implementation of Point of Sale (POS) integration by the end of current quarter of the fiscal year, said sources. 7 Business Recorder
10. Capital market tax reforms FBR constitutes consultative body
The Federal Board of Revenue (FBR) Friday constituted a consultative committee on capital market tax reforms to review the tax policies and suggest measures for the development of the capital market and amendments in the tax laws.
8 Business Recorder
11. Harmonization of GST FBR, PRAs to sit together on 12th
The Federal Board of Revenue (FBR) and the provincial revenue authorities (PRAs) would sit together at the FBR House on January 12 to review progress on the harmonization of sales tax including definition of “goods” and “services” for the purpose of collection of sales tax.
8 Business Recorder
12. Trade activity remains stable on cotton market The local cotton market remained stable on Friday. Market sources told that trading volume was a little bit low. 12 Business Recorder
13. Remittances over $2bn for 7th month running Remittances from overseas Pakistanis during December 2020 rose by 16.2 per cent year-on-year to $2.436 billion, compared to $2.097bn in December 2019, clocking in above $2bn mark for the seventh consecutive month, according to the latest data released by the State Bank of Pakistan(SBP) on Friday. 1 Dawn
14. PM launches Special Technology Zones Authority Prime Minister Imran Khan said on Friday that information technology was a revolutionary sector that needed to be exploited by companies in the country to meet the demands of the contemporary world. 5 Dawn
15. Pakistan`s exports to US show 10.9pc increase Pakistan`s exports to the United States have registered an increase of 10.9 per cent during the July-November 2020 period, shows the of ficial US data released on Friday. 5 Dawn
16. SBP chief strikes optimistic note at banking awards Balance is tilting from adversities to opportunities for Pakistan, said Governor State Bank of Pakistan Dr Reza Baqir on Friday. 9 Dawn
17. Moratorium lifted on industrial gas connections in Baluchistan The government has decided to remove moratorium on new gas connections for industrial and captive consumers in Baluchistan after a gap of almost a decade. 9 Dawn
18. Digital pension system in the offing In a move to streamline the pension payment system, the government has decided to launch a new direct credit system (DCS) soon to ensure that all requirements and documentations for the process are address digitally to facilitate pensioners. 9 Dawn
19. Committee tasked to simplify tax return forms Federal Board of Revenue (FBR) Chairman Javed Ghani has constituted a committee for timely designing, finalisation and simplification of income tax return forms for individuals, association of persons and companies for the tax year 2021. 9 Dawn
  Editorial News    
20. Industries: from sunset to sunrise Interestingly, the best advice the prime minister has received so far about how to increase exports and revenue has come from his special advisor on institutional reforms and austerity, Dr Ishrat Hussain. 6 Business Recorder
21. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   160.50 217.63 196.79 24.98 42. 84
9 Business Recorder

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