Important Business News Sunday 10th January, 2021

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1. Federal cabinet to discuss economic, political issues Prime Minister Imran Khan has called the Cabinet meeting on Tuesday (Jan 12) to discuss the country’s economic and political issues and different proposals of ministries. The killing of workers of Hazara community, the way it was dealt with both by the Federal and provincial government will also come under discussion. 1     Business Recorder
2. Govt, IPPs reach understanding on power tariff In a major development, a government team and independent power producers (IPPs) on Saturday reached an understanding on reduction in power tariff. 1   Business Recorder
3. IMF spells out govt steps The government of Pakistan’s housing package to subsidise mortgages as well as the provision of tax incentives to the construction sector got extended in the context of the second wave of the Covid-19 to the end of December 2021, says the International Monetary Fund (IMF). 1 Business Recorder
4. SECP grants licence to two new REITs The Securities and Exchange Commission of Pakistan (SECP) has granted licence to two new Real Estate Investment Trusts (REITs) management companies during 2020, while two applications are in process at the commission. 1   Business Recorder
5. Ban on Gur exports likely The federal government is likely to impose a ban on export of Gur as sugar is being smuggled under the garb of Gur exports, well-informed sources in Commerce Ministry told Business Recorder. 1 Business Recorder
6. Further increase in prices of flour, oil/ghee, milk and sugar witnessed Wheat flour, cooking oil/ghee, milk and sugar prices have witnessed further increase during the week past as compared to the preceding week, revealed a survey conducted by Business Recorder. 2 Business Recorder
7. Study suggests steps to streamline tobacco tax regime The government should take strict measures to curtail immense influence of the tobacco lobby over all the legislative bodies and avoid giving tax benefits to the multinational companies. 2 Business Recorder
8. Punjab govt launches ‘green loan’ scheme for kiln owners The Punjab government on Saturday launched a ‘green loan’ scheme for kiln owners to help them shift on ZigZag technology. 2 Business Recorder
9. FY2020-21 Exports to UK cross $1bn in first 6 months: Razak

Advisor to Prime Minister for Commerce and Investment Abdul Razak Dawood on Saturday informed that the first time, Pakistan’s exports to the United Kingdom (UK) have crossed the US dollars one billion in the first six months of fiscal year 202-121, the ever met target in the said duration.
2 Business Recorder
10. ‘KCCI fully supports Gul Ahmed’s legitimate demand’  “The Karachi Chamber of Commerce & Industry (KCCI) fully supports Gul Ahmed’s legitimate demand to allow access to its raw material so that its workers remain at work, export operations continue without any disruption and the shareholders remain confident about the mill’s performance,” said President KCCI M. Shariq Vohra, adding that even the government was also a shareholder of Gul Ahmed Textile Mills through NIT and NIC. 3 Business Recorder
11. Gold price falls Another slump hit the local gold market as price of the yellow metal further plunged by Rs1300 per tola on Saturday, traders said. 3 Business Recorder
12. Karachi, connecting highways: Shell, KE sign MoU to develop first three EV charging stations Playing an active part in the government’s aim to promote the use of electric vehicles, Shell Pakistan Limited (SPL) and K-Electric Limited (KE) have signed a Memorandum of Understanding (MoU), to jointly develop the first three Electric Vehicle (EV) Charging Stations across Karachi and its connecting highways. 3 Business Recorder
13. Individuals, AOPs and companies FBR chief forms committee 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 (AOPs), and companies for the tax year 2021.
8 Business Recorder
14. Cotton prices reach at 10 years high The local cotton market remained stable on Saturday. Market sources told that trading volume was satisfactory. 12 Business Recorder
15. Sugar sector stakeholders at loggerheads over cane price As consumers continue to suffer from high prices of various commodities, a stalemate persists between sugar mills, farmers and government authorities on the value of sugarcane. 1 Dawn
16. Land acquired for setting up SEZ in GB: Gandapur Minister for Kashmir Affairs and Gilgit-Baltistan Ali Amin Khan Gandapur has said that the federal government has acquired land for setting up a special economic zone (SEZ) in GB under the China-Pakistan Economic Corridor project. 3 Dawn
17. Comprehensive policy shift planned to overhaul textile, apparel value chain The government has evolved a comprehensive package for textile and apparel value chain to promote local production and exports from the country. 9 Dawn
18. Energy scrips fuel index rally amid circular debt talks Bullish fire continued to leap over the stock market in the outgoing week where the KSE-100 index gained 1,220 points. 9 Dawn
19. Services export jumps 13pc in November The export of services rebounded in November 2020 as it posted a growth of 12.9 per cent year-on-year to $506.9 million, showed data compiled by the Pakistan Bureau of Statistics. 9 Dawn
20. New SME policy  Small and Medium Enterprises Development Authority (Smeda) CEO Hashim Raza on Saturday said that the new SME policy is ready but it needs suggestions from the private sector. 9 Dawn

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