Important Business News
27 December, 2017
CPEC could be extended to Afghanistan
China and Pakistan will look at extending their $57 billion China-Pakistan Economic Corridor to Afghanistan, Chinese Foreign Minister Wang Yi said on Tuesday, part of China’s ambitious Belt and Road plan linking China with Asia, Europe and beyond.
|2.||Afzal assumes office
Minister of State for Finance, Rana Muhammad Afzal Khan, has assumed the charge of his office following the issuance of a notification in this regard by the Cabinet Division Tuesday.
|3.||Miftah Ismail appointed advisor to PM
The government has reportedly appointed Miftah Ismail as Advisor to Prime Minister on Finance with the status of federal minister on Tuesday.
|4.||Remittance scheme: Govt to bear 50pc cost of airtime incentive
The federal government will bear 50 percent cost of airtime incentive announced on m-wallet home remittance scheme.
|5.||Cabinet approved policy: Hajj expenditures will not be increased
The federal cabinet has approved Hajj Policy and Plan, 2018 in principle, with certain amendments and decided not to increase the Hajj expenditure. A meeting of the federal cabinet presided over by Prime Minister Shahid Khaqan Abbasi decided not to increase Hajj dues this year under the Government Hajj Scheme. The meeting was given a detailed briefing by the minister for religious affairs on Hajj Policy 2018. The meeting decided that the minister for religious affairs would hold a press briefing to highlight salient features of the Hajj Policy 2018.
|6.||Nepra approves Rs5.9084 per unit tariff for 1,263MW RLNG-fired power plant
National Electric Power Regulatory Authority (Nepra) has approved tariff of Rs5.9084 per unit for combined cycle 1263MW RLNG-fired power plant for 30 years, to be established in Jhang by the Punjab government.
|7.||Foreign debts make nation’s sovereignty vulnerable: Rabbani
Chairman Senate Mian Raza Rabbani on Tuesday said that heavy reliance on foreign borrowings is tantamount to compromise the sovereignty of the country.
|8.||New blood being included in Punjab Police: Shahbaz
Punjab Chief Minister Muhammad Shahbaz Sharif has said the police force is rendering yeoman service for the protection of life and property of the people, maintenance of discipline and law and order, curbing of crimes as well as the terrorism.
|9.||UBG candidate elected FPCCI VP unopposed
All the chambers in Punjab have reposed full confidence in the policies of the United Business Group (UBG) by electing one of its candidates Ch Arfan Yousaf for the slot of Vice President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) unopposed from Punjab whereas other chambers across the country have also assured to support UBG candidates.
|10.||Selective buying seen on cotton market
Selective buying was witnessed on the cotton market on Tuesday in the process of trading, dealers said.
|International Business News|
|11.||India to become fifth largest economy in 2018
India is set to overtake the United Kingdom and France to become the world’s fifth largest economy next year, a report said Tuesday.
|12.||LSM gathering steam
The LSM is back in action. After seeming to lose steam in September 2017, when the benchmark Large Scale Manufacturing index grew only 2.5 percent as against the 2MFY18 year-on-year growth of 11 percent, the LSM growth stood at a whopping 8.7 percent in October year-on-year. That is the highest growth October has witnessed in many years.
|13.||Currency exchange rates