Important Business News 11th January, 2020

 

S.# Description Pg # Source
1.

Banks sign deal to revive sick industrial units

In a major development towards industrialisation, some 10 banks on Friday signed agreement to establish Pakistan Corporate Restructuring Company Limited (PCRCL) for revival of sick industrial units.

https://epaper.brecorder.com/2020/01/11/1-page/819393-news.html

1 Business Recorder
2.

Azakhel dry port inaugurated

PM says railways in bad condition
Prime Minister Imran Khan while addressing the inaugural ceremony of the Azakhel Dry Port in Nowshera district on Friday said that this dry port will boost trade and generate more employment opportunities.

https://epaper.brecorder.com/2020/01/11/1-page/819394-news.html

1 Business Recorder
3.

CNIC condition on sales at retail stage

FBR to hold meeting with traders on 22nd
Federal Board of Revenue (FBR) is planning to implement the condition of Computerized National Identity Card (CNIC) on sales at the retail stage from February 1, 2020, sources said.

https://epaper.brecorder.com/2020/01/11/1-page/819395-news.html

1 Business Recorder
4.

Govt urged to review PPAs with IPPs

A high-level nine member inter-departmental probe committee, including a representative from Inter Services Intelligence (ISI), in its preliminary report has recommended the government review Power Purchase Agreements (PPAs) with the Independent Power Producers (IPPs) as some of the clauses extend undue benefits to the power projects, well informed sources told Business Recorder.

https://epaper.brecorder.com/2020/01/11/1-page/819397-news.html

1 Business Recorder
 

5.

Bull-run continues on PSX

BRIndex100 consolidates gains
Pakistan Stock Exchange (PSX) Friday continued upward march on the back of bull-run in global equities.

https://epaper.brecorder.com/2020/01/11/1-page/819391-news.html

1 Business Recorder
6.

Combined income groups

SPI inflation up 0.36pc WoW
The Sensitive Price Index (SPI) inflation for combined income groups has witnessed an increase of 0.36 percent during the week ended on January 9, 2020 against the preceding week ended January 2, 2020, as it jumped up from 131.84 points to 132.32 points.

https://epaper.brecorder.com/2020/01/11/1-page/819398-news.html

1 Business Recorder
7.

Meeting with PC team

Murad supports power plants’ and banks’ sell-off
Sindh Chief Minister Syed Murad Ali Shah, in a meeting with a seven-member delegation of the Privatization Commission of Pakistan led by Federal Minister for Privatization, Muhammadmian Soomro, said that his government was supporting two RLNG power projects and banks’ privatization, if the rights of employees and consumers were protected properly.

https://epaper.brecorder.com/2020/01/11/1-page/819392-news.html

 

1 Business Recorder
8.

83pc of global exports liberalised in CPFTA-II: Commerce ministry

Pakistan projects $3.2 billion exports growth in case of minimum 5 percent realisation of the free market access of 313 Pakistan’s high priority tariff lines given by China under the Phase-II of China Pakistan Free Trade Agreement (CPFTA-II) which has been operationalised by January 01, 2020.

https://epaper.brecorder.com/2020/01/11/3-page/819416-news.html

3 Business Recorder
9.

Punjab government to ensure transparency through e-tendering

The Punjab government is set to introduce e-tendering soon in order to ensure transparency in the process of procurement, said sources. They said Chief Secretary Punjab has directed the communications department to act upon it at the earliest.

https://www.brecorder.com/2020/01/11/560892/punjab-government-to-ensure-transparency-through-e-tendering/

3 Business Recorder
 

10.

 

Economic outlook improving: SBP chief

Dr Reza Baqir, Governor State Bank of Pakistan (SBP) Friday said that Pakistan’s economic outlook is improving as policy measures taking place are now addressing the microeconomic economy imbalances.

https://epaper.brecorder.com/2020/01/11/13-page/819487-news.html

13 Business Recorder
11.

Azakhel dry port to boost trade with Kabul, CARs: Rashid

Federal Minister for Railways, Sheikh Rashid Ahmed on Friday said that Azakhel Dry Port was a state-of-the art project that would help bolster trade and business activities between Pakistan, Afghanistan and Central Asian Republics (CARs).

https://epaper.brecorder.com/2020/01/11/13-page/819493-news.html

13 Business Recorder
12.

Amnesty scheme

ATIR bench for amending 2018 ordinance
A division bench of the Appellate Tribunal Inland Revenue (ATIR) has asked the Chairman of the Federal Board of Revenue (FBR) to amend Voluntary Declaration of Domestic Assets Ordinance, 2018 to resolve fundamental matters in the amnesty scheme, protect the interest of revenue and facilitate taxpayers.

https://epaper.brecorder.com/2020/01/11/18-page/819541-news.html

18 Business Recorder
13.

PSM offers services of employees to govts

Pakistan Steel Mills (PSM) has offered the services of hundreds of its employees on deputation to the Federal and Provincial Governments and their attached departments, sources close to Chairman PSM told Business Recorder.

https://epaper.brecorder.com/2020/01/11/18-page/819542-news.html

18 Business Recorder
  International News    
14.

US sanctions metals producers, mining companies

The United States piled new sanctions on Iran’s already crippled economy Friday and defended the killing of a top Iranian leader, saying he had been planning an “imminent” attack on US embassies.

https://epaper.brecorder.com/2020/01/11/1-page/819388-news.html

 

1 Business Recorder
15. Currency exchange rates

 

Countries

 

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

Rates

 

154.85

202.31

172.01

22.30

41.13

7 Business

Recorder

 

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