Important Business News 11th October, 2019

Important Business News

11th October, 2019

 

S.# Description Pg # Source
1

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.

https://epaper.brecorder.com/2019/10/11/1-page/804923-news.html

01 Business Recorder
2.

IMF projection

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.

https://epaper.brecorder.com/2019/10/11/1-page/804919-news.html

01 Business Recorder
3.

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.

https://epaper.brecorder.com/2019/10/11/1-page/804920-news.html

01 Business Recorder
4.

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.

https://epaper.brecorder.com/2019/10/11/1-page/804921-news.html

01 Business Recorder
5.

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.

03 Business Recorder
6.

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.

https://epaper.brecorder.com/2019/10/11/5-page/804956-news.html

05 Business Recorder
7.

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.

https://epaper.brecorder.com/2019/10/11/5-page/804959-news.html

05 Business Recorder
8.

PSDP 2019-20

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.

https://epaper.brecorder.com/2019/10/11/15-page/805027-news.html

15 Business Recorder
9.

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.

https://epaper.brecorder.com/2019/10/11/20-page/805064-news.html

20 Business Recorder
10.

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.

https://epaper.brecorder.com/2019/10/11/20-page/805067-news.html

20 Business Recorder
11.

Gas companies prepare Rs55bn subsidy bill for winter supplies

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.

https://www.dawn.com/news/1510226/gas-companies-prepare-rs55bn-subsidy-bill-for-winter-supplies

10 Dawn
12.

Targets for Rabi crops fixed

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.

https://www.dawn.com/news/1510221/targets-for-rabi-crops-fixed

10 Dawn
13.

Pieces of state land identified in Faisalabad

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.

https://www.dawn.com/news/1510177/pieces-of-state-land-identified-in-faisalabad

17 Dawn
INTERNATIONAL NEWS
14.

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.

https://epaper.brecorder.com/2019/10/11/6-page/804965-news.html

06 Business

Recorder

15.

Sui Northern Gas Pipelines Limited

PUBLIC NOTICE

https://epaper.dawn.com/Advt.php?StoryImage=11_10_2019_006_006

06 Dawn
16. Currency exchange rates

 

 

Countries

 

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

 

Rates

 

155.90

190.80

171.70

22.20

41.50

07 Business

Recorder

 

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