【Daily】14 Sept. Brief of Pakistan BizNews
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KSE 100 47,270.46 ▲ 0.15% KASB Tech Index 583.20 ▼ 1.16%
KASB Market View
National News Govt working to repay $3bn Chinese investment: Khalid ISLAMABAD: The government has started discussion with China to resolve repayment of US$3 billion China Pakistan Economic Corridor (CPEC) investment, becoming due, in a win-win situation for both the countries. https://www.brecorder.com/news/40120068/govt-working-to-repay-3bn-chinese-investment-khalid
Wheat ‘crisis’: TCP chairman likely to face the music ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has reportedly held Chairman TCP responsible for wheat “crisis” in the country and directed Commerce Ministry to seek an explanation from him for not complying with the ECC’s clear directions https://www.brecorder.com/news/40120063/wheat-crisis-tcp-chairman-likely-to-face-the-music
PTI taking Pakistan towards ‘shining’ future: President ISLAMABAD - President Arif Alvi said Monday that the government secured achievements on various fronts specially economy, social and human development and foreign policy to take the country towards a prosperous and shining future. https://nation.com.pk/14-Sep-2021/pti-taking-pakistan-towards-shining-future-president
Roadshows begin for PSM revival ISLAMABAD: Federal Minister for Privatisation Mohammed mian Soomro initiated the activity of roadshows for revival of Pakistan Steel Mills. https://www.brecorder.com/news/40120061/roadshows-begin-for-psm-revival
ITFC to provide $600m to finance POL products’ imports ISLAMABAD: The International Islamic Trade Finance Corporation (ITFC), on Monday, informed Pakistan that the ongoing syndication is about to complete and $600 million will be available to the country during this month to finance petroleum products imports. https://www.brecorder.com/news/40120064/itfc-to-provide-600m-to-finance-pol-products-imports
Incentives for refineries not approved by CCoE ISLAMABAD: The Cabinet Committee on Energy (CCoE) is said to have not approved incentives for the refineries due to Byco refinery whose technology is 20 years old, well-informed sources told Business Recorder. https://www.brecorder.com/news/40120050/incentives-for-refineries-not-approved-by-ccoe
‘Survey’ says businessmen want cut in policy rate KARACHI: A monetary policy survey conducted recently by Policy Research Unit (PRU), Policy Advisory Board Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended a reduction in policy rate by 50-100 bps. https://www.brecorder.com/news/40120021/survey-says-businessmen-want-cut-in-policy-rate
Purchase of software, IT-related equipment: Govt urged to declare operational emergency ISLAMABAD: The Revenue Division has requested the federal government to declare operational emergency for immediate purchasing software and IT related equipment and hardware without tendering process to avert cyber attacks on Federal Board of Revenue’s (FBR) website in future.
Cabinet may give 10pc ad hoc relief allowance to MPs ISLAMABAD: The Federal Cabinet, which is scheduled to meet on Tuesday (today), will consider grant of 10 per cent of ad-hoc relief allowance -10 per cent of the basic pay - to the members of parliament and Chairman/ Speaker, as well as, Deputy Chairman/ Deputy Speaker https://www.brecorder.com/news/40120062/cabinet-may-give-10pc-ad-hoc-relief-allowance-to-mps
TPL Corp and BoP ink long-term agreement KARACHI: TPL Corp, one of Pakistan’s leading conglomerates serving diverse fields like real estate, security and insurance amongst numerous others, has inked an agreement with Bank of Punjab (BoP) to finance the establishment of multiple real estate projects including Sindh’s first Technology Park, Pakistan’s first Gold LEED certified ultra-luxurious residential project “One Hoshang” and TPL Properties upcoming master planned community project &investment in group subsidiaries. https://epaper.brecorder.com/2021/09/14/5-page/900582-news.html
PTA set to surpass Rs45.436bn non-tax revenue target ISLAMABAD: Pakistan Telecommunication Authority (PTA) Chairman Major General Amir Azim Bajwa (retired) while endorsing that the government needs more revenue, said the Authority will surpass the non-tax revenue target of Rs45.436 billion budgeted for the current financial year 2021-22. https://epaper.brecorder.com/2021/09/14/1-page/900540-news.html
International News Donors pledge $1.1bn for Afghanistan GENEVA/NEW YORK: Donors have pledged more than $1.1 billion to help Afghanistan, where poverty and hunger have spiralled since the Islamist Taliban took power, and foreign aid has dried up, raising the spectre of a mass exodus. https://epaper.brecorder.com/2021/09/14/1-page/900536-news.html
Aluminium hits 13-year high, inflation concerns harden LONDON: Aluminium reached $3,000 a tonne for the first time in 13 years Monday, ratcheting up soaring inflation concerns that in turn are boosting the dollar as traders eye higher interest rates to tame runaway prices. https://epaper.brecorder.com/2021/09/14/1-page/900532-news.html
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