Important Business News 29th November, 2019

 

S.# Description Pg # Source
1.

Gunvor places most lowest offers for Jan LNG cargoes sought by Pakistan

Commodity trader Gunvor submitted the lowest bids for four out of five liquefied natural gas (LNG) cargoes that Pakistan LNG had sought for delivery in January through a tender, a document on the Pakistani company’s website showed. https://epaper.brecorder.com/2019/11/29/1-page/812534-news.html

1 Business Recorder
2.

Wheat support price increased again

A meeting of the Economic Coordination Committee (ECC) of the Cabinet has increased the wheat support prices for the second time during the last two weeks to Rs 1,365 per 40 kg due to increase in cost of production.

https://epaper.brecorder.com/2019/11/29/1-page/812535-news.html

1 Business Recorder
 

3.

CCP recommends steps to protect real estate investors

A three-member bench of the Competition Commission of Pakistan (CCP) Thursday declared that numerous cases have been witnessed in Pakistan’s burgeoning real estate sector where investors in housing schemes have been defrauded by unscrupulous elements.

https://epaper.brecorder.com/2019/11/29/1-page/812536-news.html

1 Business Recorder
4.

FY 2018-19

FBR missed collection target due to shortfall in six areas
The Federal Board of Revenue (FBR) has missed the revenue collection by Rs 321.5 billion in 2018-19 due to shortfall in six areas.

https://epaper.brecorder.com/2019/11/29/1-page/812543-news.html

1 Business Recorder
5.

PRR project

WB lists high-risk factors
The World Bank has termed vested interests lobbying for tax exemptions, internal tensions and wariness of change among the Federal Board of Revenue (FBR) staff, and potential disputes affecting provinces’ readiness to collaborate with the FBR as high-risk factors for the Pakistan Raises Revenue (PRR) project.

https://epaper.brecorder.com/2019/11/29/1-page/812545-news.html

1 Business Recorder
6.

NoC to Aleem’s housing society

IHC directs CDA to submit report

The Islamabad High Court Thursday directed the chairman Capital Development Authority to submit report in a petition filed against CDA’s permission to a private housing society of Pakistan Tehreek-e-Insaf’s Aleem Khan to use land which was acquired for road construction.

https://epaper.brecorder.com/2019/11/29/3-page/812557-news.html

3 Business Recorder
7.

Electric vehicles to curtail import bill by $2bn annually: adviser

Adviser to Prime Minister on climate change, Malik Amin Aslam on Thursday said that electric vehicles will initially reduce import bill by US$2 billion per annum.

https://epaper.brecorder.com/2019/11/29/5-page/812572-news.html

5 Business Recorder
8.

Punjab PA validates Punjab agri marketing Ord for 90 days

The Punjab Assembly on Thursday extended the period of validity of The Punjab Agricultural Marketing Regulatory Authority (Amendment) Ordinance 2019, The Punjab Local Government (Amendment) Ordinance 2019, The Punjab Village Panchayats and Neighbourhood Councils (Amendment) Ordinance 2019 and The Punjab Local Government (Second Amendment) Ordinance 2019 for the period of 90 days.

https://epaper.brecorder.com/2019/11/29/16-page/812666-news.html

16 Business Recorder
9.

‘Climate changes playing havoc with lives of people’

Projected temperature will rise around two degrees centigrade at the end of this century, due to climate changes playing havoc with lives of the people, agriculture wild life, livestock, water resources and other areas. Whereas, in the last century temperature rose by 0.6 degree centigrade.

https://epaper.brecorder.com/2019/11/29/16-page/812667-news.html

16 Business Recorder
10.

Replacement of govt reps on BOD

PD scrutinizes around 350 petroleum experts

Petroleum Division has scrutinized around 350 local and foreign petroleum experts for replacement of government representations in the board of directors (BOD) of nine public sector oil and gas companies having major shareholding of the government.

https://epaper.brecorder.com/2019/11/29/20-page/812697-news.html

20 Business Recorder
11.

Umar for expediting work on groundbreaking of first CPEC SEZ

Federal Minister for Planning and Special Initiatives, Asad Umar has directed that groundbreaking of the first special economic zone (SEZ) under the CPEC at Faisalabad be ensured before the end of calendar year and necessary work be expedited to achieve groundbreaking of two more SEZs at Rashakai and Dhabeji within the current financial year.

https://epaper.brecorder.com/2019/11/29/20-page/812699-news.html

20 Business Recorder
12.

AGPR begins Kartarpur Corridor audit

Auditor General of Pakistan Revenue (AGPR) has started audit of recently constructed Kartarpur Corridor for the Indian Sikh pilgrims, officials told the sub-committee of Public Accounts Committee on Thursday.

https://epaper.brecorder.com/2019/11/29/20-page/812704-news.html

20 Business Recorder
13.

Forex reserves up $115.4m

The country’s liquid foreign exchange reserves posted an increase of $115.4 million during last week.

https://epaper.brecorder.com/2019/11/29/20-page/812698-news.html

20 Business Recorder
14.

Power tariff raised to meet IMF target

To meet another target before a mee­ting of the executive board of the International Mone­tary Fund (IMF), the government on Thursday app­roved an increase of 26 paisa per unit in electricity tariff, instead of 15 paisa allowed by the power regulator.

dawn.com/news/1519447/power-tariff-raised-to-meet-imf-target

1 Dawn
15.

ECC reviews plan to revive Tuwairqi Steel

Ministry of Industries on Thursday forwarded a plan to the Economic Coordination Committee (ECC) for the revival of the Tuwairqi Steel Mills (TSML) requesting cheap gas supply, tax exemptions and threshold for new investment to make the state-of-the-art steel mill operational.

https://www.dawn.com/news/1519480/ecc-reviews-plan-to-revive-tuwairqi-steel

10 Dawn
EDITORIAL
16.

Razak’s help sought

A delegation of All Pakistan Textile Mills Association (APTMA) has  recently met the Prime Minister’s Adviser on Commerce, Textiles, Industries and Production and apprised him of the failure of relevant institutions to implement two pro-export policy decisions announced by the government.

https://epaper.brecorder.com/2019/11/29/18-page/812686-news.html

18 Business Recorder
INTERNATIONAL
17.

European parliament declares ‘climate emergency’

The European Parliament voted on Thursday to declare a “climate and environment emergency” in a symbolic gesture just ahead of the latest UN global crisis summit.

https://epaper.brecorder.com/2019/11/29/1-page/812537-news.html

1 Business Recorder
18.

Furious China threatens retaliation over US law on Hong Kong

China threatened retaliation against Washington on Thursday after US President Donald Trump signed legislation supporting Hong Kong pro-democracy protesters, just as the world’s top two economies edge towards a trade truce.

https://epaper.brecorder.com/2019/11/29/6-page/812574-news.html

6 Business Recorder
19.

China reiterates its pledge to lower trade barriers, widen market access

China on Thursday reiterated its pledge to further widen market access for foreign capital and lower non-tariff trade barriers, as it aims to boost flagging trade amid a slowing economy and a trade war with the US.

https://www.dawn.com/news/1519477/china-reiterates-its-pledge-to-lower-trade-barriers-widen-market-access

10 Dawn
20. Currency exchange rates

 

Countries

 

U.S.

U.K

EURO

CHINA

SAUDIA ARABIA

Symbol

 

$

£

¥

﷼, SR

Rates

 

155.40

200.00

170.50

22.00

41.30

9 Business

Recorder

 

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