Important Business News
11th October, 2019
27m tons wheat output target set
The government on Thursday set wheat production target at 27 million tons for Rabi season 2019-20 from an area of 9.2 million hectares of land.
Govt gross debt to rise to 78.6pc
The International Monetary Fund (IMF) has projected an increase in government gross debt by 1.9 percent to 78.6 percent of the Gross Domestic Product (GDP) in 2020 against 76.7 percent in 2019.
Powers to issue grants now lie with govt
Finance Division has stated that not a single supplementary grant was issued during the first quarter of the current fiscal year and powers to issue grants now lie with the federal government and not with the Finance Division.
Running economy on sustainable basis foremost priority: PM
Prime Minister Imran Khan Thursday said his government’s foremost priority was to run the economic system on sustainable basis, which would help create job opportunities, enhance investors’ confidence and promote local industry.
National Bank of Pakistan Attention All NBP Accounts Holders
All NBP Bank Accounts, where Biometric Verification has not been completed, will be temporarily blocked after 15th October 2019.
PTEA urges govt to address extreme cash flow crisis
Pakistan Textile Exporters Association (PTEA) has urged the Government to address the extreme cash flow crisis with immediate liquidation of outstanding refunds to steam up the industrialization, boost exports and generate additional jobs.
Country’s oil reserves up by 7pc
The overall oil reserves of the country are up by 7 percent (excluding PEL reserves) to 286 million barrels (10 years) mainly on back of upward adjustment in fields of Tal block and Adhi.
Rs133bn released against budgeted Rs701bn
The federal government has released Rs 133 billion (19 per cent) including Rs 9.65 billion foreign aid (7.52 per cent) for various ongoing and new development projects under Public Sector Development Program (PSDP) 2019-20 against the total budgeted allocation of Rs 701 billion.
Restaurants, eateries, coffee shops
FBR introduces ‘Electronic Invoice System’
Federal Board of Revenue (FBR) Thursday introduced ‘Electronic Invoice System’ for restaurants, cafes, coffee shops, eateries, snack bars and hotels, and directed them to install Board’s approved fiscal electronic device/software and register all their branches and each point of sale (POS) with the FBR’s computerized system.
Over 4.5m cotton bales to be imported
Pakistan has to import over 4.5 million cotton bales that would cost around $1.5 billion, owing to 33 percent decline from the target set for cotton production this season, sources revealed to Business Recorder.
Winter gas supplies face growing challenges as the Sui Southern Gas Company Ltd and Sui Northern Gas Pipelines Ltd, also known as “the Sui sisters”, could require up to Rs55 billion in subsidies to divert expensive imported Liquefied Natural Gas (LNG) to meet demand from domestic consumers.
The Federal Committee on Agriculture (FCA) set a wheat production target of 27 million tonnes for 2019-20 Rabi season from a projected crop sowing area of 9.2m hectares.
According to a local real estate consultant and architect 15 pieces of state land are available in Faisalabad city areas which can be used for the establishment of housing schemes, high-rises, commercial markets, hospitals etc.
Trump to meet China envoy, lifting hopes for trade talks
President Donald Trump announced Thursday he will meet with China’s top trade envoy, raising hopes as the two sides pursue fraught negotiations that had appeared headed for a dead end.
Sui Northern Gas Pipelines Limited
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