Important Business News Thursday18th February, 2021

S.# Description Pg # Source
1. IMF seeks new circular debt plan The International Monetary Fund (IMF) has reportedly sought a new Circular Debt Management Plan (CDMP) from the government, including a pledge to increase tariff in future, rationalization of subsidy and slashing of circular debt, well-informed sources told Business Recorder. 1 Business Recorder
2. All commercial activities to be restored from March 1 Common man affected by price hike: Cabinet
The federal government said on Wednesday that the prices of essential items have increased and the common man is adversely affected by price hike.
1     Business Recorder
3. Plan aimed at tackling poverty, hunger proposed Prime Minister Imran Khan has proposed a five-point plan to deal with poverty and hunger in his address at the Governing Council of International Fund for Agricultural Development (IFAD) on Wednesday. 1   Business Recorder
4. Corporate sector Income tax exemptions may be withdrawn
The government will not revise sales tax and Federal Excise Duty (FED) rates before the next federal budget, but the corporate sector income tax exemptions may be withdrawn through a Presidential Ordinance or a new Finance Amendment Bill 2021 to be moved to the Parliament before June 2021.
1 Business Recorder
5. PD revising power policy draft Power Division is reportedly revising the draft of National

Electricity Policy (NEP) in the light of observations made by the provinces including deduction of power receivables at source, well-informed sources told Business Recorder.
1    Business Recorder
6. THE RUPEE: Gains against USD On Wednesday after market close, PKR went up against USD in both interbank and open markets. 1 Business Recorder
7. Reduction in fee of passport for 10 years notified The Directorate of Passport and Immigration on Wednesday notified reduction in fee of passport for 10-years. 3 Business Recorder
8. Czech oil & gas firms show interest in LNG business: Omar Federal Minister for Energy Omar Ayub Khan was informed on Wednesday that some Czech oil and gas companies has shown interest in LNG business in Pakistan. 3 Business Recorder
9. NA body for revamping agriculture lending system The National Assembly Special Committee on Agriculture has recommended the government and other stakeholders of revamping the existing agriculture lending system to rid the farmers of exploitation of middleman. 3 Business Recorder
10. Business activity remains firm on cotton market The local cotton market remained stable on Wednesday. Market sources told that trading volume was satisfactory. 8 Business Recorder
11. EU to help local SMEs get maximum benefit from GSP+ status European Union Ambassador to Pakistan Androulla Kaminara, at a meeting with Hashim Raza, Chief Executive Officer of the Small and Medium Enterprises Development Authority (SMEDA), on Wednesday said that delegation of the European Union to Pakistan will help local SMEs to get maximum benefit from GSP Plus status. 11 Business Recorder
12. January textile group exports decline 5.54pc MoM The country’s textile group exports have witnessed a decline of 5.54 percent in January 2021 as it stood at $1.32 billion compared to $1.4 billion during December 2020, says the Pakistan Bureau of Statistics (PBS). 12 Business Recorder
13. UN body helps develop apple value chain in Balochistan Balochistan Minister for Agriculture Zamarak Khan Piralizai has said that support from the United Nations Industrial Development Organisation (Unido) in the development of the apple value chain in six districts of the province will have a profound effect on the livelihood of people of these areas. 5 Dawn
14. Alarm as eatables import bill rises by 52pc The import bill of eatables widened by 51.9 per cent to $4.64 billion year-on-year in the seven months of 2020-21 over the same period last year, triggering higher-than-expected trade deficit, data compiled by the Pakistan Bureau of Statistics (PBS) showed on Wednesday. 9 Dawn
15. 13 years on, Neelum-Jhelum surcharge set to go Having collected about Rs100 billion, the government has decided in principle to finally do away with Neelum-Jhelum surcharge, currently applied to all electricity consumers at the rate of 10 paisa per unit, after 13 years. 9 Dawn
16. Textile exports jump 8pc in 7MFY21 Textile and clothing exports increased over eight per cent to $8.76 billion on a year-on-year basis in the seven months of the current fiscal year, according to data released by the Pakistan Bureaus of Statistics on Wednesday. 9 Dawn
17. PTA seeks end to illegal GSM booster imports The Pakistan Telecommunication Authority (PTA) on Wednesday urged the Federal Board of Revenue to stop illegal imports of GSM boosters that cause interference in frequency bands of mobile companies and deteriorates quality of cellular services in the area where these amplifiers are installed. 9 Dawn
18. Imran proposes five-point agenda to end world poverty  Describing agriculture as central to human survival, Prime Minister Imran Khan on Wednesday proposed a five-point agenda to end poverty and hunger from the world by investing in sustainable agriculture development, ensuring adequate and fair prices of food products, applying new technologies and rethinking patterns of food consumption and production. 12 Dawn
19. Internet services disrupted across Pakistan Internet services faced disruptions across the country on Wednesday as one of its six international submarine cables developed a fault. 12 Dawn
20. AGP can audit NBP accounts, rules PAC The Public Accounts Committee (PAC) has ruled that the Auditor General of Pakistan (AGP) can audit the National Bank of Pakistan (NBP) as the latter has not given the former access to its financial record since 2012. 12 Dawn
  International News    
21.  EU auto sales plunge 24pc in January New car sales in Europe plunged 24 per cent from a year earlier to a record low in January as the coronavirus pandemic kept the market under pressure, an industry survey showed on Wednesday. 9 Dawn
22. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   159.45 221.32 193.54 24.90 42. 55
17 Business Recorder

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