Important Business News 29 November, 2017

Important Business News

29 November, 2017

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1.       CPEC first phase investment value exceeds $30bn: Sartaj

Deputy Chairman Planning Comm-ission, Sartaj Aziz Tuesday said that the investment value of first phase of China-Pakistan Economic Corridor (CPEC) projects has reached over $30 billion while overall it has exceeded $60 billion.

1 Business Recorder
2.       $1bn loans procured in just 4 months

The country procured $1.022 billion commercial loans from foreign banks in the first four months (July-October) of the current fiscal year 2017-18, thus surpassing the budgeted estimates of $1 billion for the entire year.

1 Business Recorder
3.       July-Sept fiscal deficit worked out 1.2pc of GDP

A spokesman for the Finance Division Tuesday said that debt and fiscal operations data of general government for the Q1 2018 (July-September, 2017) has been finalized. Civil accounts data of revenue receipts and expenditure of the federal government for Q1 of current fiscal year has been received from the Office of AGPR, financing data from EAD (external financing) and from the SBP (bank and non-bank) as well as civil accounts containing provincial governments revenue and expenditure have been received from provincial AGs.


1 Business Recorder
4.       Ruthless export of brass: Local manufacturer suggest levy of 30-40 percent RD

Local manufacturers have proposed to the Federal Board of Revenue (FBR) to immediately impose 30-40 percent regulatory duty on export of brass to regulate its exports and check a sudden rise in the price of this item.


2 Business Recorder
5.       Admn control: Nepra starts challenging energy ministry

The National Electric Power Regulatory Authority (Nepra) is said to have started challenging the Ministry of Energy (Power Division) after formally coming under the administrative control of Power Division.

21 Business Recorder
6.       Dec-June period: FBR estimates to generate Rs1.5bn thru RD on LPG

The Federal Board of Revenue (FBR) has estimated to generate around Rs 1.5 billion from the imposition of the regulatory duty at the rate of Rs 4,669 per MT on the import of Liquefied Petroleum Gas (LPG) during remaining seven months (December to June) of 2017-18.

21 Business Recorder
7.       PFVA seeks permission for exporting onion

Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) has sought federal and Sindh government’s permission to export onion with immediate effect to protect the growers’ interest.

8 Business Recorder
8.       CPEC projects: NH&MP to recruit more personnel

More than 10,000 recruitments will make in National Highways & Motorway Police in near future to cater the additional responsibilities to be handed over in the shape of China Pakistan Economic Corridor (CPEC).

9 Business Recorder
9.       PHMA urges SBP to notify procedure for applying DDT

Pakistan Hosiery Manufacturers Association has asked the central bank to issue procedure’s detail for applying drawback claims under revised PM export package, as the SBP has not yet formulated the process of application for Drawback of Duty and Taxes (DDT).

13 Business Recorder
10.    E-commerce is future mode of business: FCCI chief

E-commerce is the future mode of business which will also provide an opportunity to SME (Small Medium Enterprises) sector to directly supply their products to the end-consumers in any part of the world, said ShabbirHussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI).


13 Business Recorder
11.    Cotton market: Selective buying by mills on short supply of quality lint

Selective buying was seen on the cotton market on Tuesday in the process of trading activity, dealers said.
The official spot rate was unchanged at Rs 6,600, they said. In Sindh, seed cotton prices were same at Rs 2800-3350, in the Punjab, rates were at Rs 2800-3500, as per 40 kg, they said.

18 Business Recorder
12.    MoUs inked to monitor cattle movement, diseases

A two-day quadrilateral meeting to develop a mutually beneficial regional approach towards trans-boundary animal disease control between Pakistan, Iran, Afghanistan and Tajikistan concluded in Tehran on Tuesday, said an official of the Food and Agriculture Organisation (FAO).

10 Dawn
13.    ECC approves conditional export of 1.5MT of sugar

The government allowed on Tuesday the export of 1.5 million tonnes of sugar with a subsidy of Rs10.70 per kilogram.

The decision was taken by the Economic Coordination Committee (ECC) in view of significant surplus stocks as producers claim that sugar prices have crashed locally.

10 Dawn
14.    Major industry status for LPG sector demanded

Pakistan’s LPG sector should be treated as a major industry and be given all necessary incentives due to its important role in the country’s economy, LPG Association of Pakistan (LPGAP) members demanded on Tuesday.


2 Tribune

International Business News

15.    `World economy growing faster than in years, but not for long`

The world economy is growing faster than it has in seven years and more and more people are working but the high growth isn`t expected to last long, and wages remain stubbornly stagnant.

11 Dawn
16.    Indian economic growth set to end five-quarter slide

Indian economic growth likely rebounded in the July-September quarter from the slowest growth in three years, with demand picking up modestly as the effects from a shock ban on highvalue currency notes eased, a Reuters poll showed.

11 Dawn
17.    Currency exchange rates









Selling TT&OD






Buying TT Clean






Buying OD/T.CHQ






7 Business Recorder


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