Important Business News
1st January, 2018
1H tax collection shows 17.5pc increase
Federal Board of Revenue has provisionally collected net revenue of over and above Rs. 1722 billion during first half (July-December) 2017-18 against Rs 1466 billion in the same period of last fiscal, recording an increase of around 17.5 percent.
|2.||Petroleum products prices raised
The government has increased petroleum products’ prices from Rs 3.96 per liter to Rs 6.74 per liter and stated that no tax amnesty scheme is under consideration.
|3.||KP to become second largest province after Fata’s merger: Afridi
Member National Assembly (MNA) from Khyber Agency Shah JiGulAfridi has said that Khyber-Pakhtunkhwa would become second largest province after merger of Fata and would have relatively big share in the NFC Award.
|4.||SCCI urges govt to set up export monitoring body
President Sialkot Chamber of Commerce and Industry (SCCI) ZahidLatif Malik has urged the government to take bold step for setting up a high powered “Export Monitoring Committee” to keep an account of policies formulation and their implementation. The proposed committee should also identify the problems related to the export and recommend remedial measures and solutions for overcoming the issues he added.
|5.||ADB considers $200m loan for Pakistan’s ICT project
Asian Development Bank (ADB) is negotiating and considering for providing loan of $200 million for “Integrated Information and Communications Technology Development Project” in Pakistan.
|6.||Challenges for new economic team- Editorial
During his first interaction with the media-persons on 28th December, 2017, Minister of State for Finance, Rana Afzal Khan spelt out challenges that the incumbent government faces during its remaining tenure. Managing external side of the economy will be a major challenge for the government in the remaining six months of the current fiscal year as dollar 6 billion foreign repayments are due before June 30, 2018. The government is also exploring the possibility of purchasing oil on deferred payment from a friendly country.
|7.||‘Xinjiang-Pakistan’ Corridor- Article
The release of the Long-Term Plan (LTP 2017-2030) for the China Pakistan Economic Corridor (CPEC), reportedly prepared by the China Development Bank, raises more questions than it answers. Nevertheless, it can serve as a starting point for dispassionate analyses at least of the economic—leaving aside the more significant strategic and diplomatic—opportunities and risks created by the CPEC (especially for Pakistan).
|8.||Pakistan-China FTA- ‘do more’- Analysis
The lack of coordination amongst policymakers’ and poor negotiation skills on international trade front could not be better demonstrated by the way Pakistan’s Free Trade Agreement FTA) with China has unfolded in the last decade. The FTA was signed in 2006; and in FY08, Pakistan’s trade deficit with China, according to the SBP data, was $2.4 billion which almost quadrupled to $8.9 billion in FY17.
|9.||Militant attacks decline by 15pc in 2017: report
Unlike previous two years, the year 2017 could not saw a significant reduction in anti-State violence in Pakistan and instead, the year saw more suicide attacks than previous two years, an Islamabad-based research group said Sunday.
|10.||Foreign investors are coming to Pakistan, and then leaving-Interview
Muhammad ArifYousufJeewa is the newly elected Chairman of the Association of Builders and Developers of Pakistan (ABAD). He is the Director of Rupali Builders and has been serving the builders’ community for over two decades. BR Research sat down with him and his colleague FayyazIlyas who is Senior Vice Chairman of ABAD to talk about a number of issues ranging from the increasing housing gap across Pakistan and why demand is not being met; the lack of foresight in government policies; and the absence of conformity in systems across government institutions that pose unique hurdles for the private sector. The conversation also touched upon the impact on real estate industry as CPEC gains momentum.
|11.||Currency exchange rates