Important Business News 07 April, 2018

Important Business News

07 April, 2018

S.# Description Pg # Source
1.       SBP concerned at external account, BoP

The State Bank of Pakistan (SBP) said on Friday that the external account remained a cause of concern for the macroeconomic stability and the brewing Balance of Payments (BoP) challenges warrant concerted and timely measures to preserve the macroeconomic stability and growth momentum.

1 Business Recorder
2.       Domestic debt rose by Rs.588.2bn in H1

Domestic debt increased by Rs 588.2 billion during the first half of this fiscal year (FY18), slightly higher than the level observed in the same period last year.
According to State Bank of Pakistan’s report most of the increase in domestic debt was concentrated in the first quarter of FY18.

1 Business Recorder
3.       Miftah, Others discuss economic sitation

The Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr Miftah Ismail chaired the meeting of Monetary and Fiscal Policies Coordination Board on Friday.
The meeting was also attended by the Deputy Chairman Panning Commission, Finance Secretary, Governor SBP, Acting Secretary Commerce and Dr Ishrat Husain, Director IBA Karachi/ex-Governor SBP.

1 Business Recorder
4.       China’s co asked to submit undertaking on power supply

The Cabinet Committee on Privatisation (CCoP) has sought an undertaking from M/s Shanghai Electric Power Company(SEP), the new “cleared” buyer, that the company will ensure uninterrupted electricity supply to military and its installations during war and peace, well-informed sources in federal government told Business Recorder.

1 Business Recorder
5.       Nawaz praises CJP’s commitment to timey elections

Former Prime Minister Nawaz Sharif Friday appreciated Chief Justice Mian Saqib Nisar’s remarks on the upcoming general elections, urging the CJP to ensure a level playing field for all parties.

1 Business Recorder
6.       ‘Kashmir solidarity Day’ observed

The nation observed Kashmir Solidarity Day on Friday to condemn the fresh wave of Indian brutalities against innocent Kashmiris being perpetuated to stop their just struggle for securing their inalienable right to self determination.

1 Business Recorder
7.       PIA: PC invites fresh Eol

Privatisation Commission has invited a fresh expression of interest (EOI) from Financial Consultant for a period of six months for the privatization of Pakistan International Airlines (PIA).
Sources said to proceed ahead with the privatization of PIACL, PC will have to undertake necessary actions to hire fresh Financial Advisors (FA) or re-engage the services of a former FA whose financial advisory services agreement expired on October 3, 2017.

1 Business Recorder
8.       PSO resumes fuel oil imports after 4-month halt

Pakistan State Oil (PSO) this week issued its first fuel oil import tender for the year after suspending purchases at the end of 2017 ahead of an expected pickup in demand during summer.

1 Business Recorder
9.       Absence of full LSM data to blur GDP figure

The government’s ability to present a realistic budget on April 27, the date scheduled by Special Advisor to the Prime Minister on Finance, Revenue and Economic Affairs Dr Miftah Ismail, may not be possible with only seven-month data for large-scale manufacturing available that would make it difficult for Finance and Planning to work out a credible GDP figure.

1 Business Recorder
11. Punjab Govt shows solidarity with Kashmiri people   

The Punjab government on Friday showed their complete solidarity with the people of Occupied Kashmir on the occasion of Kashmir Solidarity Day.
Punjab Chief Minister Muhammad Shahbaz Sharif, ministers and officers attended various meetings with black ribbons on their arms against cruelties of Indian armed forced in Occupied Kashmir.

2 Business Recorder
12. PM to inaugurate Khuzdar Shahdadkot section today

Prime Minister Shahid Khaqan Abbasi will inaugurate Khuzdar-Shahdadkot section and start of work on Yakmach-Kharan road project during a ceremony in Kharan Today.
Both the projects are part of government’s plan to improve and widen road network in Balochistan province

2 Business Recorder

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