Important Business News 20th March, 2020

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1. Exporters to get relief package Prime Minister’s Advisor on Commerce, Industries and Production and Investment Abdul Razak Dawood said on Thursday that the government would soon announce a relief package for the affected exporters. 1 Business Recorder
2. Govt finalising $600m package with multilaterals: minister The government is finalising an approximately $600 million emergency package with multilaterals for dealing with the coronavirus (Covid-19) outbreak across the country. 1 Business Recorder
3. Foreign buyers Exporters can send shipping documents directly: SBP
 In its efforts to facilitate exporters, the State Bank of Pakistan (SBP) has allowed exporters to directly dispatch shipping documents of their export consignment to their foreign buyers without any limit.
1 Business Recorder
4. Cases of coronavirus cross 450 as Balochistan reports sharp spike Pakistan on Thursday reported new positive coronavirus cases in Balochistan and Gilgit-Baltistan, taking the national tally to 453. In Balochistan, the number of positive cases soared to 81 after it reported 66 fresh cases on Thursday. 1 Business Recorder
5. Impact of Covid-19 CPEC projects to be completed in time: FO
The Foreign Office on Thursday expressed the confidence that Pakistan would be able to complete the China-Pakistan Economic Corridor (CPEC) projects in time, and would counterbalance “short-term” impact by coronavirus outbreak.
3 Business Recorder
6. NDMA directs provinces’ chief secretaries Conversion of 3&4 star hotels into quarantine centres in the offing
Following the surge in coronavirus cases countrywide the government is mulling to convert all the three and four star hotels into quarantine centers.
3 Business Recorder
7. COVID-19 APTMA urges govt to save textile industry from negative impact
All Pakistan Textile Mills Association (APTMA) has demanded the government to take drastic measures to save export oriented textile industry from the negative economic impact of Novel Coronavirus (COVID-19) as since its outbreak in mid-December 2019, has caused turmoil in the world’s second-largest economy, China, with a trickle-down effect on nearly all big economies including those of the European Union, United States, Japan and South Korea.
7 Business Recorder
8. Government urged to help resolve key issues of furniture industry President of the Sarhad Chamber of Commerce and Industry Engr Maqsood Anwar Pervaiz has urged the government to take pragmatic steps to resolve key issues of furniture industry to boost exports of furniture. 7 Business Recorder
9. Kifalat Programme Cash transfers begin to mitigate impact of COVID-19: Dr Sania
Special Assistant to the Prime Minister on Social Protection and Poverty Alleviation, Dr Sania Nishtar Thursday said cash transfer operations for the Ehsaas Kifalat beneficiaries are being run for financial assistance of the poor families in the wake of coronavirus outbreak.
7     Business Recorder
10. PFA seals 14 food points The Punjab Food Authority (PFA) sealed 14 food businesses and penalized dozens of other eateries while carrying out a routine inspection operation in Punjab to ensure the provision of healthy and adulteration-free food in the market. 7 Business Recorder
11. Coronavirus threat Punjab CM sets up Rs5bn special fund
Punjab Chief Minister Sardar Usman Buzdar has set up Rs 5 billion special fund to deal with coronavirus and ordered an indiscriminate crackdown on the mafias involved in hoarding of masks and sanitizers.
12 Business Recorder
12. REAP chief urges govt to double term of ERF Rice Exporters Association of Pakistan (REAP) has urged the government for enhancing the term of export refinance facility (ERF) scheme given to the rice exporters from 180 days to 360 days, enabling them work smoothly and with peace of mind. 12 Business Recorder
13. APTMA writes letter to Lesco for revised electricity bills The All Pakistan Textile Mills Association (APTMA) has requested the Chief Executive Officer Lahore Electric Supply Company (LESCO) to take up the matter with the Ministry of Energy, Power Division for issuance of current electricity bills to the export oriented sector including textile sector at 7.5 cents/Kwh as per decision taken in the meeting of the Economic Coordination Committee on March 11, 2020. 12 Business Recorder
14. Punjab decides to impose ban on public transport coming from Sindh The Punjab government has decided to impose ban on all kinds of public transport coming from Sindh to Punjab, however, entry of goods transport will continue till further orders. 12 Business Recorder
15. Value of $725 per MT fixed on import of sugar withdrawn The Federal Board of Revenue (FBR) has withdrawn value of $725 per metric tons (MT) fixed on the import of sugar and now 17 percent sales tax would be applicable on the actual value of the commodity at the import stage. 46 Business Recorder
16. Armed forces extend support to public: DG ISPR Director General Inter-Services Public Relations (ISPR) Major General Babar Iftikhar on Thursday said the armed forces were extending all out support to the public against coronavirus, together with the civilian authorities. 46 Business Recorder
17. Wagah sealed as virus tally rises ISLAMABAD: While the number of the novel coronavirus (COVID-19) cases in the country has reached 453 with two casualties, the federal government has taken some major decisions to control the spread of the deadly virus i.e. 1 Dawn
18. FBR estimates Rs300bn revenue loss in last quarter ISLAMABAD: The Federal Board of Revenue (FBR) has estimated a revenue loss of over Rs300 billion during the AprilJune quarterofthe currenthscal owing to a slowdown in economicactivities because of a coronavirus threat. 1 Dawn
19. No lockdown being considered at federal level, says Sindh governor Governor of Sindh Imran Ismail on Thursday visited the Quaid-i-Azam International Airport Karachi to check screening arrangements for travelers coming from various countries.   2 Dawn
20. Covid-19 certificate condition irks UK students Pakistani students in the United Kingdom have expressed anger and frustration over the government`s decision to demand a mandatory coronavirus certificate from travellers entering the country after March 21 (Saturday). 3 Dawn
21. Govt to suspend 12 train services from Sunday: Rashid ISLAMABAD: To contain the spread of the coronavirus, the Pakistan Railways has decided to suspend 12 trains from March 22 (Sunday) and may close 20 more from April 1, depending on the gravity of the situation then. 3 Dawn
22. Doctors in four govt hospitals threaten to stop work from 24th ISLAMABAD: Doctors` representatives from four public service hospitals in the federal capital on Thursday announced that they cannot continue working without personal protective equipment (PPE) and would shut the outpatient departments (OPDs) from March 24. 4 Dawn
23. Japan to provide Rs700m aid to Faisalabad textile university ISLAMABAD: Japan has agreed to provide a grant assistance of Rs700 million to Pakistan for procurement of sophisticated equipment and machinery to enable the National Textile University in Faisalabad to strengthen the foundation of textile industry in the country. 5 Dawn
24. Hot money outflows climb to $1.3bn KARACHI: Foreign investors have pulled out more than $1.388 billion from the country`s capital markets in the ongoing month with hot money outflows amounting to $1.28bn, the State Bank of Pakistan (SBP) data showed on Thursday. 10 Dawn
25. Ban on wheat movement to help achieve procurement targets ISLAMABAD: Ahead of wheat harvesting season, Ministry of National Food Security and Research on Thursday proposed restrictions on intra-district movement of wheat crop and ban on private sector from procuring the crop until public sector targets are achieved. 10 Dawn
26. Work begins on emergency bailout ISLAMABAD: Projecting at least $10bn losses to national economy because of coronavirus pandemic, the government is considering an `economic emergency bailout package` within a week to address the likely shortto-medium term liquidity crunch to various sectors of economy. 10 Dawn
27. Reserves fall Reserves held by the State Bank of Pakistan declined by $110 million to $12.68 billion during the week ended on March 13. Commercial bank holdings stood at $6.06bn while the country`s total reserves amounted to $18.743bn.-Staff Reporter 10 Dawn
28. Stocks shed another 286 points on panic selling KARACHI: The panic selling at the stock market gave way to a sobering thought to investors who returned to a relative calm on Thursday, but not before the exchange had witnessed the sixth trading halt in two weeks. 10 Dawn
29. First phase of single national curriculum completed, says govt ISLAMABAD: The government has claimed to have completed the first phase of the implementation of the single national curriculum in the country by developing a uniform syllabus for class 1 to 5, but says it will take another year for its implementation in all educational institutions and madressahs [religious seminaries]. 14 Dawn
30. Govt to form joint parliamentary body to fight pandemic ISLAMABAD: Prime Minister Imran Khan on Thursday decided to form a joint parliamentary committee of treasury and opposition members to seek opposition`s support in the Eght againstnove1coronavirus. 14 Dawn
31. Pakistan asks India to lift blockade of valley to curb spread of coronavirus ISLAMABAD: Pakistan on Thursday again called on India to lift communication blockade on occupied Jammu and Kashmir and ensure supplies of essential commodities in the valley to contain the spread of COVID-19 and mitigate the suffering of Kashmiris. 14 Dawn
  International News    
32. World wages war on virus as China offers ray of hope ROME: World powers were on a war footing against the spiralling coronavirus pandemic on Thursday despite a sign of hope from China where no new domestic case was reported for the first time. 13 Dawn
33. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   158.50 181.88 172.57 22.43 42.17
9 Business Recorder

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