Important Business News 24th June, 2020

S.# Description Pg # Source
1. Price stability Punjab asked to release wheat to its flour mills The federal cabinet on Tuesday decided to carry out investigation into wheat smuggling. It also decided to ensure transparency with a view to maintaining flour prices at a lower level. https://epaper.brecorder.com/2020/06/24/1-page/841765-news.html 1 Business Recorder
2. Covid-19 outbreak Pakistan reaches 13th position globally
Minister for Planning and Development Asad Umar has said the aim of targeted lockdown is to isolate maximum Covid-19 infected cases. https://epaper.brecorder.com/2020/06/24/1-page/841763-news.html
1 Business Recorder
3. Next set of CPEC projects Pakistan will need to overcome challenges: UNDP
Pakistan will need to overcome several challenges including macroeconomic, legal and regulatory as well as coordination issues to embark swiftly towards the next set of projects planned under the China-Pakistan Economic Corridor (CPEC), says the United Nations Development Programme (UNDP). https://epaper.brecorder.com/2020/06/24/1-page/841768-news.html
1 Business Recorder
4. Finance Bill 2020 to be tabled in NA on Sunday  The parliamentary leaders unanimously decided that the Finance Bill 2020-2021 would be tabled on Sunday in the National Assembly for passage. https://epaper.brecorder.com/2020/06/24/1-page/841769-news.html 1 Business Recorder
5. Treasury MPs say people misled on federal budget The treasury MPs on Tuesday cautioned against attempts being made to misled people on the federal budget, after the opposition kept attacking the government, saying it lacked “boldness and foresight”. https://epaper.brecorder.com/2020/06/24/3-page/841786-news.html 3 Business Recorder
6. Number of coronavirus cases decreases in capital The number of deadly coronavirus cases has decreased in the federal capital following smart lockdown in the various residential sectors of the city. https://epaper.brecorder.com/2020/06/24/3-page/841787-news.html 3 Business Recorder
7. Above 65 barred and pilgrims to be quarantined after Hajj As the countries across the globe have placed lockdowns and restricted public gatherings to avert the spread of Covid-19, the Ministry of Hajj and Umrah announced in a statement that Hajj, which is set to begin by the end of July, will be “very limited” in size and restricted only to Saudi residents. https://epaper.brecorder.com/2020/06/24/5-page/841792-news.html 5 Business Recorder
8. Housing finance   SBP steering committee discusses pilot projects
Steering Committee on Housing and Construction Finance in its first meeting held on Tuesday discussed two initial pilot projects, one on the government land model and the other private sector builders’ model. https://epaper.brecorder.com/2020/06/24/5-page/841794-news.html
5 Business Recorder
9. Removal of anomalies in Finance Bill 2020 FBR may submit reports to Hafeez today
The Federal Board of Revenue (FBR)’s Anomaly Committees are expected to submit their reports to the Advisor to the Prime Minister on Finance, Abdul Hafeez Shaikh, on Wednesday (today) for removal of technical and legal anomalies in the Finance Bill, 2020. https://epaper.brecorder.com/2020/06/24/15-page/841893-news.html
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10. Gold continues to rise Local gold prices continued their upward trend on Tuesday, hitting a peak of Rs103,100 per tola and Rs88,391 per 10 gram, up Rs1,100 and Rs943 f rom Monday`s rates. https://epaper.dawn.com/DetailImage.php?StoryImage=24_06_2020_009_004 9   Dawn
11. Govt aiming for 4-4.5pc growth over next three years Expecting successful continuation of the International Monetary Fund (IMF) programme, the government is targetting the national economy to rebound with four per cent to 4.5pc growth over the next three years and total revenues posting a growth rate of 3pc of gross domestic product. https://epaper.dawn.com/DetailImage.php?StoryImage=24_06_2020_009_003 9 Dawn
  International News    
12. Global trade set to shrink 18.5pc in Q2: WTO GENEVA: Global trade is expected to drop around 18.5 percent year-on-year in the second quarter of this year in a huge coronavirus-driven plunge which nonetheless could have been much worse, the World Trade Organization said Tuesday. https://epaper.brecorder.com/2020/06/24/1-page/841761-news.html 1 Business Recorder
13. Virus pushing millions of South Asia children into poverty: UN KATHMANDU: More than 100 million children in South Asia could slip into poverty as a result of the coronavirus pandemic, a UN report said Tuesday of the long-term impact of the crisis. https://epaper.brecorder.com/2020/06/24/1-page/841762-news.html 1       Business Recorder
14. S Arabia to allow around 1,000 to perform Hajj  RIYADH: Saudi Arabia on Tuesday said only around 1,000 pilgrims of various nationalities already in the kingdom will be allowed to perform a dramatically scaled-down Hajj, as it battles a coronavirus surge.   https://epaper.brecorder.com/2020/06/24/1-page/841767-news.html 1       Business Recorder
15. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   166.60 207.78 187.73 23.66 44. 35
9 Business Recorder

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