Important Business News 16th April, 2018

 Important Business News

        16th April, 2018

S.# Description Pg # Source
1.       WB projects 5.8pc growth      … detailed

World Bank (WB) has projected GDP growth for Pakistan to reach 5.8 percent in fiscal year 2018, but warned that macroeconomic imbalances are widening as macroeconomic and political risks have increased.
The WB report tilted “South Asia Economic Focus, jobless growth,” states balance of payments position is particularly vulnerable at the current level of reserves.

https://epaper.brecorder.com/2018/04/16/1-page/710900-news.html 

1 Business Recorder
2.       CPEC projects

The preliminary projection for the Pakistan’s current account deficit in FY2019 is 4.5% of gross domestic product (GDP), with somewhat slower growth but mainly due to continued implementation of China Pakistan Economic Corridor (CPEC) projects.
In its annual report “The Asian Development Outlook 2018”, the Asian Development Bank (ADB) said the deficit expanded on larger imports that widened the trade deficit despite a strong revival in exports.

https://epaper.brecorder.com/2018/04/16/1-page/710901-news.html 

1 Business Recorder
3.       Amnesty Scheme 2013
FTO issues notice to secretary revenue, FBR chief

Federal Tax Ombudsman (FTO) has issued notice to secretary Revenue Division and chairman Federal Board of Revenue (FBR) in a complaint filed for recovery of untaxed/black money introduced under Amnesty Scheme earlier notified by the present government vide SRO # 1065(I)/2013.The Amnesty Scheme under SRO No. 1065(I)/2013 has now been declared illegal by the Lahore High Court in the year 2018.https://epaper.brecorder.com/2018/04/16/18-page/711032-news.html
18 Business Recorder
                                                Editorial/Reports    
4.       Reforms remain ignored
The Asian Development Outlook (ADO), an annual publication of the Asian Development Bank, that analyzes and forecasts the state of the economy of member states, uploaded on its website on 11 April 2018 reiterated the emergent need for structural reforms in Pakistan, a position that was taken by the International Monetary Fund (IMF) in its March 2018 first post-programme monitoring report and the World Bank in its November 2017 Pakistan Development Update.https://epaper.brecorder.com/2018/04/16/16-page/711014-news.html 
16 Business Recorder
5. Currency exchange rates

 

Countries

 

U.S.A

U.K

EURO

CANADA

CHINA YUAN

SAUDIA ARABIA

Selling TT & OD115.60

164.55

142.53

91.84

30.83

18.83

Buying TT Clean

115.40

164.27

142.28

91.69

30.77

18.80

Buying OD/T.CHQ

115.16

163.93

141.99

91.44

30.69

18.75

 11 Business Recorder

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