Important Business News
3 February, 2018
1H domestic debt, other liabilities soar to Rs15.88trn
The federal government’s domestic debt and other liabilities continued to move up reaching Rs 15.88 trillion at the end of first half (July-Dec) of this fiscal year (FY18).
|2.||Draft Benami rules: PM authorizes submission of summary for approval
Prime Minister Shahid Khaqan Abbasi has authorized submission of a summary to the Cabinet for approval of the draft of Benami Transaction (Prohibition) Rules, 2018.
|3.||Govt seeks to revise PIU for amendment to agri credit rules
The Cabinet has constituted an inter-ministerial committee headed by Minister for Privatisation, Daniyal Aziz to prepare recommendations for revision in Produce Index Unit (PIU) for amendment to the Loans for Agriculture, Commercial and Industrial Rules, 1973, official sources told Business Recorder.
|4.||Customs claims seizing 16.7 MT of Acetic Anhydride
Model Customs Collectorate (MCC), Port Qasim claimed to have seized huge quantity of Acetic Anhydride weighing 16.7 metric tons on the other day.
|5.||Businessmen concerned at hike in prices of POL products
The industrialists/traders have strongly criticized government’s decision to increase price of petroleum products saying that repeated hike in the prices of oil and gas in recent past has badly eroded Pakistan’s competitiveness due to which the country is losing exports and attraction for investment while this situation would further destabilize the economy.
$305m worth agreements signed
Agreements worth US$305.0 million were signed with the World Bank (WB) here on Friday to support projects in agriculture sector in Punjab and to improve the nutrition status of children as well as women in Khyber Pakhtunkhwa.
LPG association rejects Ogra prices
LPG Association has rejected the notified prices of Oil and Gas Regulatory Authority (OGRA) on the pretext that it would further increase the prices of gas.
Private pension funds: SECP releases report on comparative performance
The total net assets of the voluntary pension fund industry are currently over Rs23 billion contributed by more than 19,000 participants. The fund managers, depending on the asset class, charge the pension funds fees ranging from 0.5% to 1.5% per annum.
Construction of buildings: PM for ensuring int’l standards of quality
Prime Minister Shahid Khaqan Abbasi said on Friday that construction of all buildings must meet the international standards of quality and safety.
Cotton market: Prices stabilise amid subdued business
Prices stabilised on the cotton market on Friday in the process of slow trading activity, dealers said.
Issuance of export certificates: Action taken by minister helps avert crisis at seaport
Timely action taken by commerce minister averted a serious crisis. The minister allowed the quarantine department to work beyond office timings for issuance of export certificates.
Sartaj-led body asks govt to raise cotton research expenditures to Rs1bn
Deputy Chairman Planning Commission, Sartaj Aziz-led committee has recommended to the government to double expenditures on cotton research to Rs1 billion, fix production target of 25 million bales and provide a level playing field to all commodities. It also suggested the government to free some land from sugarcane for cotton cultivation for increasing production and making it a profitable crop for farmers once again.
|International Business News|
US contemplating no military action inside Pakistan: Pentagon
The United States is not contemplating military action inside Pakistan, the Pentagon has said, refuting such reports appearing in Pakistani newspapers.
China in talks over military base in remote Afghanistan
Worried about militants sneaking into a restive Chinese region from war-torn Afghanistan, Beijing is in talks with Kabul over the construction of a military base, Afghan officials say, as it seeks to shore up its fragile neighbour.
Pakistan calls for reforms in UNSC structure
Pakistan has called for reforms in the United Nations Security Council structure based on the principles of democracy, a press release said.
|16.||Kathmandu to host 6th Saare business moot in March
South Asian Association for Regional Cooperation (Saarc) Chamber of Commerce and Industry (CCI) is set to host its sixth Business Leaders Conclave (BLC) in Kathmandu, Nepal from March 16-18.
|17.||India’s budget: What lessons can we draw?- Editorial
That India is now a $2.5 trillion economy is a reality. Not only is Pakistan’s economy ($300 billion) much smaller than India’s, its growth rate is lower than its neighbour’s. Moreover, the fiscal deficit and balance of payment woes are more pronounced in Islamabad than in New Delhi. The question, therefore, is whether or not there can be a fair comparison between the economies of the two nuclear-armed rivals who understandably have different needs and different histories.
Power losses- Article
The recently published report titled “Performance evaluation report of public sector GENCOs FY14-16” by the power regulator Nepra presents a dismal performance of Gencos. Facts and figures speak for themselves and so do the figures presented by Nepra.
|19.||Currency exchange rates