【Daily】9 June Brief of Pak BizNews
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Economic Survey to be unveiled today
Finance Minister Miftah Ismail will unveil the Economic Survey 2021-22 Thursday (June 9) on the performance of the economy for the outgoing fiscal year with provisional growth of 5.97 percent against the envisaged target of 4.8 percent.
Moody’s affirms B3 long-term deposit ratings of five banks
Moody’s Investors Service has affirmed the B3 long-term deposit ratings of Pakistani banks and changed the outlook to negative from stable.
Import of equipment for recycling projects: Budget likely to come up with some tax relief
The government is expected to announce tax relief measures in the budget (2022-23) on the import of equipment for recycling projects for moving towards sustainable packaging and a truly “circular economy”. It is reliably learnt that the government is considering measures to eliminate packaging waste through fiscal measures to be introduced in the coming budget.
PM consults CMs on energy conservation step
Prime Minister Shehbaz Sharif has consulted all the Chief Ministers on the decision taken by the federal cabinet regarding energy conservation, especially closure of market at 8pm after getting their feedback, the decision would be implemented.
NA to pass Export-Import Bank of Pakistan Bill today
The National Assembly today (Thursday) would pass “The Export-Import Bank of Pakistan Bill, 2021” to fulfil the conditionality of the International Monetary Fund (IMF) without referring to the relevant Standing Committee of the house, it is learnt. According to the sources, after the passage of the bill, it would be tabled in the Senate on the same day for its passage.
K-Electric announces revised load-shedding plan
K-Electric announced a revision in its load-shed plan to manage the ongoing power shortfall in the city. As per the revised policy, 3 hours of loadshedding will be undertaken in low loss areas within KE’s service territory.
Staff-level pact with IMF expected by next week
Federal Minister for Finance and Revenue Miftah Ismail on Wednesday expressed the hope that Pakistan would reach a staff-level agreement with the International Monetary Fund (IMF) by next week which will help strengthen the Pak rupee and the economy.
5pc growth target set but govt says will try for 6pc
The National Economic Council (NEC) has approved the Annual Plan and macroeconomic framework for 2022-23 with five percent GDP growth for the next fiscal year and the Public Sector Development Programme (PSDP) worth Rs2.1384 trillion – including Rs800 billion federal and Rs1, 384 billion provincial.
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