Important Business News 22th June, 2020

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1. Sell-off process could contribute Rs100bn revenue Privatisation Division has short listed 10 entities which are scheduled to be sold out in financial year 2020-21 to achieve budgeted revenue of Rs 100 billion. 1 Business Recorder
2. Guidelines for people above 50 years issued The government on Sunday made it mandatory for the people to wear masks at public and crowded places, and also issued guidelines for people above 50 years of age who constitute 72 percent of those 3501 so far lost their lives due to Covid-19 in the country. 1 Business Recorder
4. Steel sector PALSP urges govt to rectify anomalies in budget Pakistan Association of Large Steel Producers (PALSP) has requested the government to address anomalies regarding steel sector in federal budget 2020-21. 3 Business Recorder
5. FY 2020-21 FTAs, PTAs cause over Rs45bn loss The general exemption on imports from China under Pak-China Free Trade Agreement (FTA) caused revenue loss of Rs 26.856 billion during FY 2019-20. 3 Business Recorder
6. 1,812 shops sealed, 714 FIRs registered over violation of SOPs The city district government with the assistance of police has, so far, sealed 1,812 shops and registered 714 first information reports (FIRs) for violating Punjab government’s issued guidelines to contain the spread of novel coronavirus. 3 Business Recorder
7. GST should be reduced to 14pc: KCCI President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has stressed that the rate of GST should be reduced by 3 percent to 14 percent from current 17 percent which will have a very positive impact on business sentiment and it would trigger demand in domestic market, besides providing much needed relief to trade, industry and consumers. 5 Business Recorder
8. SMEs vanished due to non availability of credit line: PBF Pakistan Businesses Forum (PBF) has said that small and medium enterprises (SMEs) have proved to be the engine of successful economy. 5 Business Recorder
9. Govt urged to provide relief for ginning industry Pakistan Cotton Ginners Association (PCGA) has requested the government to fulfill commitments made throughout the year as the industry is in trouble. 12 Business Recorder
10. Pakistan’s local govts disconnected from citizens: UNDP The United Nations Development Programme (UNDP) says that local governments around the world are at the forefront of the current COVID-19 crisis, but in Pakistan these institutions are to an extent disconnected from its citizens and “saddled with a governance style which is top down, reactive and authoritative”. 12       Dawn
  International News    
11. China bans some US chicken, shuts Pepsi plant to fight virus BEIJING: China banned imports from a top US poultry producer and ordered a Beijing Pepsi factory to close Sunday as authorities clamped down on food production and distribution amid a new coronavirus cluster in the capital. 1       Business Recorder
12. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   168.00 212.00 187.00 23.45 45. 00
7 Business Recorder

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