Important Business News 3rd November, 2017

Important Business News

3rd November, 2017


S.# Description Pg # Source
1.       PM asks FBR to log CNIC –base economic activity

Prime Minister ShahidKhaqanAbbasi has directed Federal Board of Revenue (FBR) to document all computerized national identity card (CNICs) numbers-based economic activities and register new taxpayers on the basis of the CNIC, which is used to carry out all kind of transactions including banking transactions, utility services and buying/selling activities.


1 Business Recorder
2.       Cabinet to extend super tax to banking cos for FY18

The federal Cabinet is to extend super tax to the banking companies for fiscal year 2017-18 through an amendment to rule 7C of the Seventh Schedule of Income Tax Ordinance.


1 Business Recorder
3.       Court orders freeze of Dar’s assets

An accountability court on Thursday upheld bailable arrest warrants issued against Finance Minister Ishaq Dar for not appearing before the court in connection with a reference filed against him by National Accountability Bureau (NAB) for possessing assets beyond known sources of income.


1 Business Recorder
4.       Cotton estimates revised downward

The Cotton Crop Assessment Committee (CCAC) on Thursday estimated cotton production at 12.6 million bales against initial estimates of 14.04 million bales for the current season (2017-18). Secretary Textile Division Hassan Iqbal chaired the 2nd meeting of the CCAC here on Thursdayto assess the cotton production estimates for the current season (2017-18).


1 Business Recorder
5.       Stock brokers barred from working with freelancers

The Securities and Exchange Commission of Pakistan has barred stock market brokers from allowing or working with any person (freelancers/marketing agents/introducers), who provide fee/commission based services to get clients and promote their business, unless such persons has SECP’s valid registration/license as an agent.


1 Business Recorder
6.       Opposition parties slam govt over hike in POL prices

Opposition parties in National Assembly on Thursday lambasted the government over recent hike in petroleum products prices, terming it a burden on the poor.


3 Business Recorder
7.       Chabahar, Gawadar ports complementary to each other: FO

The Foreign Office Thursday downplayed the Iran, India and Afghanistan’s endeavour to apparently use Iranian Port Chabahar for bilateral trade, saying Pakistan does not regard it as an alliance against the country and the China-Pakistan Economic Corridor (CPEC).


22 Business Recorder
8.       Malaysia to set up Halal food industry at Ghazi: Khattak

KP Chief Minister Pervez Khattak on Thursday said that Malaysia will establish Halal food industry at Ghazi, Haripur and in this regard an agreement was also signed with Canada.


9 Business Recorder
9.       30,000 tube wells to be converted to solar power in Balochistan

The federal and Balochistan governments have agreed to conduct immediate feasibilities within one month for installation of 30,000 solar tube wells by replacing the existing conventional tube wells.


9 Business Recorder
10.    Water crisis looming, Irsa warns


12 Business Recorder
11.    Govt under fire in Senate for mortgaging Jinnah International Airport

The government came under fire in the Senate on Thursday for mortgaging Jinnah International Airport and other key state enterprises, saying what would happen if timely payments are not made against those mortgages.


12 Business Recorder
12.    Talks on FTA’s with Thailand, Turkey under way, NA told

The negotiations for free trade agreements with Turkey and Thailand are at an advanced stage to promote the country’s exports.


12 Business Recorder
13.    NTDC organizing phase-I of 500kV Port-Qasim transmission line

National Transmission and Despatch Company (NTDC) has energized first phase of 500kV double circuit quad bundle transmission line from Port Qasim power plant to interconnect with existing 500kV single circuit-1 Hub-Jamshoro transmission line.


13 Business Recorder
14.    Int’l moot on poultry processing concludes

Participants of the International Conference on Poultry Processing (ICPP) said that there is no regulatory authority to check and limit the use of diseased or dead bird in vet market.


13 Business Recorder
15.    Cotton market remains fully firm


18 Business Recorder
16.    PAAPAM demands withdrawal of RD on raw materials


13 Business Recorder
17.    Change of govt in Islamabad won’t effect CPEC: China

China said on Thursday development work on 19 of 50 projects related to the ChinaPakistan Economic Corridor (CPEC) was already under way.`It will not be affected by a change in government in Islamabad,` a senior official of the Chinese Ministry of ForeignAffairs told a group of visiting Pakistani journalists at the foreign of fice.


10 Dawn
18.    Price Stability and Inflation- Editorial


20 Business Recorder


20 Business Recorder
20. Currency exchange rates








Selling TT&OD






Buying TT Clean






Buying OD/T.CHQ






7 Business Recorder


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