Important Business News 12th January, 2020

 

S.# Description Pg # Source
1.

Boosting SMEs top govt priority, says Dawood

Commerce Advisor Abdul Razak Dawood Saturday said the government has released Rs17.5 billion of refunds to the export sectors, adding that the ministry’s top priority is to boost SMEs to underpin the national economy.

https://epaper.brecorder.com/2020/01/12/1-page/819558-news.html

1 Business Recorder
2.

Oil, gas exploration

Int’l tender floated for auction for 18 new blocks
The Petroleum Division has floated an international tender for the auction of 18 new blocks aimed at expediting oil and gas exploration activities to meet the country’s energy needs in an efficient manner, an official of the Petroleum Division said.

https://epaper.brecorder.com/2020/01/12/1-page/819559-news.html

1 Business Recorder
3.

H1 workers’ remittances up $365m YoY

Workers’ remittances sent by overseas Pakistanis posted over 3 percent increase during the first half (July-Dec) of this fiscal year (FY20).

https://epaper.brecorder.com/2020/01/12/1-page/819560-news.html

1 Business Recorder
4.

There’re no differences between PM, chairman: FBR

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has said that Prime Minister Imran Khan will formally announce the concessions given to traders and he will also participate in the PM’s interaction with traders on January 20.

https://epaper.brecorder.com/2020/01/12/1-page/819553-news.html

1 Business Recorder
 

5.

Listing of companies

SECP to relax major condition under IPO regulations
The Securities and Exchange Commission of Pakistan (SECP) is planning to relax a major condition for listing of companies under new Initial Public Offering (IPO) Regulations under which companies with less than 3 years operational track record would be made eligible for listing.

https://epaper.brecorder.com/2020/01/12/1-page/819555-news.html

1 Business Recorder
6.

Hubco likely to carve out two units from PPA

M/s Hub Power Company (Hubco) is likely to carve out two units of the Hub plant from the Power Purchase Agreement (PPA) and novate them to Karachi Electric (KE), well informed sources told Business Recorder.

https://epaper.brecorder.com/2020/01/12/1-page/819556-news.html

1 Business Recorder
7.

Hike in POL prices challenged in SC

The Amun Taraqqi Party (ATP) on Saturday challenged the recent hike in prices of petroleum products by the government in the Supreme Court (SC) Lahore registry.

https://epaper.brecorder.com/2020/01/12/2-page/819567-news.html

2 Business Recorder
8.

Modest trading activity seen on cotton market

Modest trading activity was again witnessed on the cotton market on Saturday owing to short supply of best quality lint, dealers said.

https://epaper.brecorder.com/2020/01/12/8-page/819622-news.html

8 Business Recorder
9.

Value-added exports up by 27pc, says Razak

Discontinuation of all subsidies on exports has helped Pakistan to increase its value-added exports to 27 percent, said Razak Dawood.

https://epaper.brecorder.com/2020/01/12/11-page/819646-news.html

11 Business Recorder
10.

Prices of essential kitchen items witness upward trend

Prices of essential kitchen items have witnessed an increasing trend during this week past against the preceding week, a survey conducted by Business Recorder revealed here on Saturday.

https://www.brecorder.com/2020/01/12/561039/prices-of-essential-kitchen-items-witness-upward-trend/

11 Business Recorder
11.

Economic stabilisation has failed to bring growth: PM aide

Adviser to the Prime Minister on Commerce, Textile, Industry & Production and Investment Abdul Razak Dawood has said though there is economic stabilisation in Pakistan the country has still not seen economic growth.

https://epaper.dawn.com/DetailImage.php?StoryImage=12_01_2020_003_003

3 Dawn
12.

Auto part vendors lambaste assemblers over low localisation, high prices

For the first time in 15 years, auto parts vendors have finally spoken out against local vehicle assemblers over low localisation and high prices.

https://epaper.dawn.com/DetailImage.php?StoryImage=12_01_2020_010_003

10 Dawn
13.

Tax reforms yield Rs209bn in additional revenue

The Federal Board of Revenue (FBR) collected Rs209 billion additional during the first five months of this fiscal year mainly due to structural changes in taxation system, procedures and withdrawal of exemptions.

https://epaper.dawn.com/DetailImage.php?StoryImage=12_01_2020_010_006

10 Dawn
  International News    
14.

French wheat exports hit seven-year high in December

Soft wheat exports from French ports reached a seven-year high in December during the on-going transportation strikes that saw loadings at several ports around the country halted intermittently for several days, Refinitiv data showed Thursday.

https://epaper.brecorder.com/2020/01/12/8-page/819619-news.html

 

8 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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