Important Business News 19th December, 2019

 

S.# Description Pg # Source
1. LSM down 6.48pc YoY
The country’s Large Scale Manufacturing (LSM) witnessed a decline of 6.48 percent during the first four months of the current financial year, ie, from 136.51 points in 2018-19 to 127.66 points in 2019-20, Pakistan Bureau of Statistic (PBS) said on Wednesday.                     https://epaper.brecorder.com/2019/12/19/1-page/815940-news.html
1 Business Recorder
2. Ways & means for enhancing foreign investment discussed
Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh chaired a meeting here at Finance Division to discuss ways and means for enhancing foreign investment in Pakistani startup ecosystem.https://epaper.brecorder.com/2019/12/19/1-page/815939-news.html
1 Business Recorder
 

3.

BRIndex100 slips
Pakistan Stock Exchange Wednesday remained under heavy selling pressure and closed on a negative note due to profit-taking, mainly by local investors.https://epaper.brecorder.com/2019/12/19/1-page/815937-news.html
1 Business Recorder
4. 300 tier-I retailers issued notices
Regional Tax Office (RTO)-II, Karachi has issued notices to 300 tier-I retailers for online integration with FBR system before the last date of ST returns filing for the month of December, 2019 to avoid blocking adjustment of input tax under sub-section (6) of section 8B of the Sales Tax Act 1990.https://epaper.brecorder.com/2019/12/19/1-page/815943-news.html
1 Business Recorder
5. IR commissioners told to implement POS invoicing system
Federal Board of Revenue (FBR) Chairman Shabbar Zaidi Wednesday issued directions to all chief commissioners of Inland Revenue for implementation of point of sale (POS) Invoicing System at all Tier-1 retail outlets.                              https://epaper.brecorder.com/2019/12/19/1-page/815942-news.html
1 Business Recorder
6.

Ginneries receive 7.86m bales across country

Seed cotton (Phutti) equivalent to 7.86 million bales reached ginneries across Pakistan till Dec 15 registering 21.09 percent shortfall compared to corresponding period of the last year.

https://epaper.brecorder.com/2019/12/19/21-page/815920-news.html

21 Business Recorder
7.

Stormy CCI session likely

Council of Common Interests (CCI) which is scheduled to meet on December 23, 2019 is likely to witness a stormy session as Sindh and KP governments are likely to raise issues on Renewable Energy (RE) policy and Net Hydel Profit (NHP) with full force, well informed sources told Business Recorder                 https://epaper.brecorder.com/2019/12/19/22-page/815945-news.html

22 Business Recorder
8.

SEZs to be built in next phase of CPEC: Chinese envoy

Ambassador of China to Pakistan Yao Jing on Wednesday said that special economic zones(SEZs) would be built in Pakistan in the next phase of China-Pakistan Economic Corridor (CPEC).                    https://epaper.brecorder.com/2019/12/19/22-page/815951-news.html

22 Business Recorder
9.

PSM audit account approved by BoD

Pakistan Steel Mills (PSM) Board of Directors has approved annual audit account of PSM for the year 2018-19 to comply with the conditions of International Monetary Fund (IMF), sources close to Chairman PSM Board told Business Recorder.                                  https://epaper.brecorder.com/2019/12/19/22-page/815949-news.html

22 Business Recorder
10.

Total energy sector circular debt crosses Rs1,673bn mark

The total energy sector circular debt has crossed Rs 1,673 billion mark, of which Rs 869 billion are pending against various defaulters and Rs 804 billion are pending against Power Holding Company Limited (PHCL).

https://epaper.brecorder.com/2019/12/19/3-page/815785-news.html

3 Business Recorder
11.

Petro China offers lowest price in Pakistan LNG

Petro China International Singapore has offered the lowest price for a liquified natural gas (LNG) cargo in a Pakistan LNG tender for February delivery, a document on the Pakistani company’s website showed on Wednesday.

https://epaper.brecorder.com/2019/12/19/3-page/815790-news.html

3 Business Recorder
12. Senate body examines complaints, discusses redressal mechanism
A sub-committee of Senate Standing Committee on Religious Affairs and Interfaith Harmony in its meeting examined complaints received during Hajj-2019 and their redressal mechanism.             https://epaper.brecorder.com/2019/12/19/3-page/815786-news.html
3  Business

Recorder

13. Punjab PA session will be convened to rectify anomalies: Sarwar
Session of Punjab Assembly will be convened very soon to rectify the anomalies in the draft of Local Bodies (LB) Bill so that these institutions could start working at grass root level for the mitigation of people’s problems,                    https://epaper.brecorder.com/2019/12/19/18-page/815906-news.html
7 Business Recorder
14. Cotton output set to hit record low

Continuing its consistent fall for the sixth year in row, the country`s cotton output in the ongoing season is set to hit record low at 8.5 million bales. https://epaper.dawn.com/DetailImage.php?StoryImage=19_12_2019_010_003

10 Dawn
 

 

International News    
15.

India-held Kashmir suffers $2.4bn economic losses since lockdown.

 A lockdown in Indiaheld Kashmir has cost its economy more than $2.4 billion since the Modi government stripped it of its special status, officials of the Himalayan region`s main trade organisation said on Wednesday. https://epaper.dawn.com/DetailImage.php?StoryImage=19_12_2019_010_008

10 Dawn
16. Currency exchange rates

 

Countries

 

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

Rates

 

155.35

203.82

172.41

22.13

41.24

9 Business

Recorder

 

 

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