Important Business News 11.11.17

Important Business News

11th November, 2017

S.# Description Pg # Source
1.        Foreign loans surge to $31.35bn

Finance Minister Ishaq Dar informed the Senate on Friday that during the last five years – October 01, 2012 to September 30, 2017 – the government received short and long-term foreign loans of $31,355.22 million from lending countries and agencies.

1 Business Recorder
2.        Census results after CCI meeting on 13th : PBS

Pakistan Bureau of Statistics (PBS) Friday said that provisional results of population census will be formally notified after the Council of Common Interests (CCI) meeting on Monday (November 13).

1 Business Recorder
3.        SECP revises terms and conditions for AMCs

The Securities and Exchange Commission of Pakistan (SECP) has revised the terms and conditions to undertake asset management services by Asset Management Companies (AMCs).

1 Business Recorder
4.        Paradise papers: FBR initiates probe

The Federal Board of Revenue (FBR) has started a probe against Pakistani nationals whose names have appeared in the Paradise Papers.

1 Business Recorder
5.        BRIndex100 down 44.95 points

Pakistan Stock Exchange Friday remained under pressure due to selling by local and foreign investors.
BRIndex100 lost 44.95 points or 1.0 percent to close at 4,437.09 points. BRIndex100 touched intraday high of 4,482.04 and intraday low of 4,432.35 points. Total volumes stood at 110.429 million shares.

1 Business Recorder
6.        LNG pricing volume: PPL, Petronas may begin negotiations by end Nov

Pakistan LNG Limited (PLL) and Petronas of Malaysia will initiate negotiations on LNG pricing and the volume following the signing of an inter-governmental agreement between Pakistan and Malaysia, in this connection.

1 Business Recorder
7.        Pakistan-Turkey issue joint stamp

As part of the series of events to commemorate the 70 years of establishment of Pakistan-Turkey diplomatic relations, Directorate General of Post & Telegraph Organization (PTT) of Turkey and Pakistan Post issued a Joint Commemorative Stamp on Thursday.

3 Business Recorder
8.        Foreigners evince keen interest in goods displayed at Expo Pakistan

Dr Ellen Lau, vice president of Pakistan Chamber of Commerce Hong Kong (PCCHK) who is leader of a visiting delegation has said that his delegation was looking forward for investment opportunities in the health, education, infrastructure development, mining and other important sectors of the economy.

19 Business Recorder
9.        Hina Saeed appointed Saarc CCI’s secretary general

Hina Saeed has been appointed Secretary General of SAARC Chamber of Commerce and Industry (SAARC CCI).

19 Business Recorder
10.    CDNS develops Overseas Pakistanis Savings Certificates

Central Directorate of National Savings (CDNS) has developed a new product i.e. Overseas Pakistanis Savings Certificates (OPSCs) aims at targeting remittances from non-banking channels and savings which are not channelized in Pakistan, which may fetch initial investment between US $550 million to US $1,200 million per annum.

20 Business Recorder
11.    FBR may receive 0.2m fresh tax returns this year: PTBA

Pakistan Tax Bar Association (PTBA) is anticipating at least 200,000 new taxpayers who would file their income tax returns this year.

20 Business Recorder
12.    APTMA Punjab for immediate withdrawal of 4pc duty 5pc ST

The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Ali Pervaiz has urged the government to immediately notify withdrawal of 4 percent Customs duty and 5 percent Sales tax and other non-tariff restrictions on import of cotton to enable the industry to meet its export commitments.

8 Business Recorder
13.    ‘Technical Textile’ need of the hour: FCCI chief

Textile is the backbone of national economy and Pakistan must switch over from traditional to technical textile in order to survive in the fast changing international markets.

8 Business Recorder
14.    Farmers face artificial shortage of fertilizer

Artificial shortage and black marketing of DAP (Di-Ammonium Phosphate) ahead of wheat sowing season has perturbed the entire farming community which may cause delay in wheat sowing resulting in shortage of overall wheat production in the country, said Syed Zia AlamdarHussain former Senior Vice President Faisalabad Chamber of Commerce & Industry, former Vice Chairman PHMA and former member BOD of FESCO.

8 Business Recorder
15.    IA, SAI signed for 330MW Thar coal power project

The Implementation Agreement (IA) and Supplemental Implementation Agreement (SIA) of 330 MW Thar Coal based power project by M/s Hub Power Company Limited (HUBCO) signed Friday at Private Power and Infrastructure Board for materializing the financing of around 500 Million US$ as Project cost.

9 Business Recorder
16.    KP sugarcane growers flay delay in crushing season

The delay in crushing season of sugarcane crop has caused serious unrest among the growers who fear that the cold response of millers to start the process will waste cultivation time of wheat crop in Khyber Pakhtunkhwa.

7 Dawn
17.    Freight rate increased by up to 64pc

The Oil and Gas Regulatory Authority (Ogra) on Friday notified up to 64 per cent increase in freight rates for the movement of oil products by oil tankers.

10 Dawn
18.    Upfront tariff for baggase-run power plants cut

The National Electric Power Regulatory Authority (Nepra) on Friday cut 30-year levelised upfront tariff for new bagasse-based power plants by more than 23 per cent.

10 Dawn


19.    Sports goods manufacturers demand incentive package, ‘Football village”

Sports goods manufacturers and exporters on Friday demanded a special incentives package for the Sialkot-based industry, with special focus on setting up a `football village` with training and development facilities.

10 Dawn
  International Business News    
20.    Turkey to help develop dairy sector

Dairy Science Park (DSP)-IV organized in Konya, Turkey has announced the establishment two Techno-Parks to promote the use of modern technology and develop dairy sector of Pakistan. One each of the announced Techno-Park will be established in Mardan, Khyber Pakhtunkhwa and Quetta, Balochistan.

9 Business Recorder
21.    India amends its new national tax scheme

India announced on Friday a slew of changes to its new national goods and services tax as pressure mounted on New Delhi to ease burden on businesses in the midst of an economic slowdown.

11 Dawn
22.    US Congress authorizes $700m for reimbursing Pakistan

The American Congress has authorised up to $700 million in Coalition Support Fund (CSF) to reimburse Pakistan for activities carried out in support of US operations in Afghanistan.

1 Dawn
23.    EU team set to visit fish harbour, reconsider ban on seafood export

The local authorities have pinned hopes on a forthcoming visit of a delegation of the European Union this month to end the decade-long ban on Pakistan’s fish and seafood products, officials said.

2 Dawn
24.    China widens foreign access to its financial sector

China will raise foreign ownership limits in financial firms in a step granting access to a tantalising multi-trillion dollar financial services market, as the world`s second-biggest economy seeks to position itself as a major global finance hub.

12 Dawn
25.    India to spray capital from high amid deepening smog emergency

India plans to spray water over its capital, New Delhi, to combat toxic smog that has triggered a pollution emergency, officials said on Friday, with conditions expected to worsen over the weekend.

14 Dawn
26.    Currency exchange rates









Selling TT&OD






Buying TT Clean






Buying OD/T.CHQ






7 Business Recorder


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