Important Business News 12th October, 2020

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1. CNG stations will continue to get indigenous gas: SAPM Special Assistant to Prime Minister on Petroleum and Natural Resources, Nadeem Babar has said that the existing CNG stations will continue to get indigenous gas as per existing policy. 1     Business Recorder
2. SNGPL refuses to sell RLNG to consumers sans mechanism Sui Northern Gas Company Limited (SNGPL) has reportedly refused to sell RLNG to domestic and commercial consumers, if no mechanism is approved by the federal government, well informed sources told Business Recorder. 1   Business Recorder
3. Positive trend witnessed Pakistan Stock Exchange witnessed positive trend during the outgoing week ended on Oct 09, due to buying mainly by local investors. 1 Business Recorder
4. Futures spread declined by 48bps The futures spread declined by 48bps to 5.16 percent on the last day of outgoing week. 1   Business Recorder
5. No change in foreign exchange rules, clarifies SBP The State Bank of Pakistan (SBP) said on Sunday that there is no change in State Bank’s existing regulations regarding foreign currency accounts and income tax fillers can feed their foreign currency account with cash foreign exchange.   1     Business Recorder
6. Weekly Cotton Report Increase in demand, rate witnessed
The rate of cotton reached at Rs 9800 per maund which is highest in ten years.
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7. Sale of 66.4pc stake to SEP PC to send 3 options to help remove hurdles in NSC issuance
Privatization Commission (PC) is set to put forward three options to the Federal Cabinet aimed at removing hurdles in issuance of National Security Certificate (NSC), mandatory for sale of 66.4 percent stake of M/s Abraaj in Karachi Electric (KE) to the Chinese company, Shanghai Electric Power (SEP), sources close to privatization minister told Business Recorder.
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8. Selling power on Peer-to-Peer basis FEL seeks govt’s nod
M/s Fatima Energy Limited (FEL) has sought government permission to sell its power on Peer-to-Peer (P2P) basis, official sources told Business Recorder.
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9.   Selection of NTDC MD PD facing uproar in ranks of senior engineers
The Power Division is reportedly facing uproar in the ranks of senior engineers in National Transmission and Despatch Company (NTDC) for ignoring them in the selection process of new MD of the company.  
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10. The Week The State Bank of Pakistan introduces an incentives and penalty mechanism for banks to promote housing and construction financing, forcing them to meet housing sector targets or face penalties. 1 Dawn Business & Finance
11. Knives, footballs and riches WHAT do swords and the > football-loving British have in common? Not much except the start of a heritage that enabled Sialkot to become the richest city in Pakistan. 1 Dawn Business & Finance
12. The ticking time bomb of circular debt THE loan programme of the > International Monetary Fund (IMF) suspended in January remains in limbo as Pakistan`s public debt went past 87 per cent of GDP at the end of 2019-20, up from about 72pc of GDP at the end of 2017-18. 1 Dawn Business & Finance
13. In quest of sustainable rupee recovery PAKISTAN is always in the quest of interest and exchange rate stability the two prerequisites for sound economic growth. 2 Dawn Business & Finance
14. Wheat a saga of mismanagement THE wheat policy of the government, which determines the production of food that fills the majority of the stomachs in the country, is providing food for thought as well: how not to conceive and run a staple policy. 2 Dawn Business & Finance
15. Challenges facing economic recovery HAVING provided liberal fiscal and monetary stimulus, policymakers are looking forward to an economic recovery driven mainly by the manufacturing sector and the construction industry.   2 Dawn Business & Finance
16. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   164.50 215.10 193.60 24.20 43. 85
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