Important Business News
12th October, 2019
Pakistanis holding properties
FBR chief says Dubai to instantly provide details
Chairman Federal Board of Revenue (FBR) Shabbar Zaidi announced on Friday that Dubai Land Department will instantly provide details of Pakistanis holding properties in Dubai.
Criticism of New Delhi’s actions in IOK
India may ‘punish’ Malaysia, Turkey thru less imports
India is considering restricting imports of some products from Malaysia including palm oil, according to government and industry sources, in reaction to the Southeast Asian country’s leader criticising New Delhi for its actions in occupied Kashmir.
Govt to submit evidence to ICSID
Pakistan is to submit documents and evidence to International Centre for Settlement of Investment Disputes (ICSID) on October 21, 2019 with respect to Turkish firm M/s Karkey Karadeniz Elektrik Uretim A.S, two days before the visit of Turkish President Recep Tayyip Erdogan to Islamabad, well-informed sources told Business Recorder.
Payment of $800m from Etisalat
PM asks Hafeez to approach UAE rulers
Prime Minister Imran Khan has directed Advisor Finance and Revenue, Dr. Abdul Hafeez Shaikh to approach the United Arab Emirates (UAE) government for payment of remaining $ 800 million from M/s Etisalat, well-informed sources told Business Recorder.
Sept exports post 2.67pc growth YoY
The country’s exports during September 2019 witnessed a growth of 2.67 percent compared with exports of September 2018, despite 25.867 percent depreciation of Pak rupee against the US dollar, Pakistan Bureau of Statistic (PBS) said.
Public debt swells
A senior official in the Ministry of Finance, borrowing to finance the fiscal deficit and the rupee depreciation against the dollar would massively increase Pakistan’s total public debt during the remaining four-year tenure of the Khan administration.
Transport infrastructure under CPEC
Islamabad, Beijing ink agreed minutes of 7th JWG meeting
Pakistan and China Friday inked the agreed minutes of the 7th meeting of Joint Working Group on Transport Infrastructure of the two countries under the China-Pakistan Economic Corridor (CPEC) framework.
SECP unveils draft amendments to private funds rules
Private fund management company is required to assess the net worth of an eligible investor through his latest tax return and wealth tax statement filed with the Federal Board of Revenue (FBR).
Sept car sales plunge 39pc YoY
The sales of locally-assembled cars witnessed a steep decline of 39 percent in September 2019.
Pakistan, ADB sign $200m additional financing facility for BISP
The Asian Development Bank (ADB) Country Director Xiaohong Yang and Secretary Economic Affairs Division, Noor Ahmed signed a $200 million loan agreement for additional financing to help support the government of Pakistan’s flagship social protection program, the Benazir Income Support Program (BISP).
IT has been apparent for a number of years now that gas pricing in Pakistan is in need of urgent reform. The recent news that a Rs55bn bill is being prepared by the two gas distribution companies, known as ‘the Sui sisters’,
At the close of first quarter, the federal government has emerged as the sole borrower from scheduled banks whereas private and public sector firms are still retiring their debts.
Voicing serious risks to its financial viability, the Sui Northern Gas Pipelines Ltd (SNGPL) has opposed the privatisation of two LNG-based government power plants (GPPs) of 2,640MW without absolving it of “take or pay” contracts with foreigner and local LNG suppliers.
The Securities and Exchange Commission of Pakistan (SECP) registered 1,392 new companies in September, raising the total number of incorporated companies to 105,407.
The cotton market remained steady on Friday amid sustained demand from big and small buyers.
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