The second phase of countrywide Covid-19 vaccination will start in March with the arrival of the AstraZeneca vaccine. Addressing a press conference here on Thursday, the SAPM said people above 65 years of age would be vaccinated with AstraZeneca – Oxford vaccine that Pakistan is set to receive through the COVAX facility.

The liquid foreign reserves held by State Bank of Pakistan (SBP) decreased by $59 million to $12.889 billion during the week ended Feb 12. The total liquid foreign reserves held by the country stood at $20.058 billion on the end of this week.

The National Assembly Standing Committee on Interior recommended the budgetary proposals relating to the Public Sector Development Project (PSDP) amounting Rs31.32 billion for 166 projects for the financial year 2021-22.

KASB Market View

Government’s decision to abolish tax exemptions worth up to Rs200 billion in corporate income tax to meet the stringent conditions laid down by the International Monetary Fund along with imposition of Rs700 billion to achieve tax collection target of Rs 6 trillion next year would shake the investor’s confidence. Furthermore, the FATF is due to take decision on whether Pakistan will enter the white list or not and the meeting is going to begin from next Monday (February 22, 2021).

National News

2nd phase of vaccination to start next month: Dr Sultan

Special Assistant to the Prime Minister (SAPM) on Health Dr Faisal Sultan said the second phase of countrywide Covid-19 vaccination will start in March with the arrival of the AstraZeneca vaccine. Addressing a press conference here on Thursday, the SAPM said people above 65 years of age would be vaccinated with AstraZeneca – Oxford vaccine that Pakistan is set to receive through the COVAX facility.

https://www.brecorder.com/news/40065772/2nd-phase-of-vaccination-to-start-next-month-dr-sultan

Foreign reserves down by $59m

The liquid foreign reserves held by State Bank of Pakistan (SBP) decreased by $59 million to $12.889 billion during the week ended Feb 12. The total liquid foreign reserves held by the country stood at $20.058 billion on the end of this week.

https://epaper.brecorder.com/2021/02/19/7-page/870349-news.html

PSDP: NA panel recommends Rs31.32bn for 166 projects

The National Assembly Standing Committee on Interior recommended the budgetary proposals relating to the Public Sector Development Project (PSDP) amounting Rs31.32 billion for 166 projects for the financial year 2021-22.

https://epaper.brecorder.com/2021/02/19/11-page/870386-news.html

SBP asked to set up cell to boost inflows into RDA

Prime Minister Imran Khan has asked the State Bank of Pakistan (SBP) to set up a cell in the central bank to facilitate overseas Pakistanis in response to their suggestions to increase the inflows in the Roshan Digital Account (RDA).

https://epaper.brecorder.com/2021/02/19/1-page/870312-news.html

Investment in premium prize bonds rises 29pc to Rs22.8bln

Total investment in registered or premium prize bonds surged 29 percent to Rs22.8 billion during the last year as investors were seen offloading investments from unregistered instruments amid their ban, official statistics revealed on Thursday.

https://www.thenews.com.pk/print/792144-investment-in-premium-prize-bonds-rises-29pc-to-rs22-8bln

Fireworks expected over 26th amendment bill today

Fireworks are expected in the National Assembly on Friday (today) over the 26th constitutional amendment bill aimed at changing the method of voting in the Senate elections as the House is all set to take up the bill when it resumes legislative business.

https://tribune.com.pk/story/2284853/fireworks-expected-over-26th-amendment-bill-today

Construction projects to fuel Rs1.76tr activities, PM told

Prime Minister Imran Khan was apprised on Thursday that economic activities worth over Rs1.76 trillion will be generated in the country owing to an investment of Rs353 billion in the housing sector alone in Punjab.

https://www.dawn.com/news/1608153/construction-projects-to-fuel-rs176tr-activities-pm-told

IMF deal envisages Rs700b taxes in next fiscal

Pakistan will take additional revenue measures equal to 1.4% of the size of its economy or over Rs700 billion to achieve a tax collection target of around Rs6 trillion in the next fiscal year under the International Monetary Fund deal.

https://tribune.com.pk/story/2284706/imf-deal-envisages-rs700b-taxes-in-next-fiscal

Pakistan Plans First Green Bond to Fund Hydropower Projects

Pakistan’s government is planning to issue a $500 million green bond in the next few months to help boost its development of hydroelectric power. The bond, denominated in euros, will be the government’s first to fund environmental goals, Malik Amin Aslam, an adviser to Prime Minister Imran Khan on climate change, said in an interview. It is set to be issued through the country’s state-owned Water & Power Development Authority, with JPMorgan Chase & Co. advising, he said.

https://www.bloomberg.com/news/articles/2021-02-18/pakistan-plans-first-green-bond-to-fund-hydropower-projects

Demonetization

-Word of the Day-

Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency.