Important Business News 4th November, 2017

Important Business News

4th November, 2017

S.# Description Pg # Source
1.        Load-shedding returns with a bang

Electricity loadshedding returned to the country Friday after majority of furnace oil/diesel-fired power plants, nuclear power plants and gas-based power plants, with a cumulative capacity of 8500 MW shut down due to smog, fuel supply issues and financial woes.

1 Business Recorder
2.        Bill on delimitation deferred again

The bill for delimitation of constituencies and reallocation of National Assembly seats on the basis of provisional census results was deferred again on Friday due to lack of strength of government benches during the session of the Lower House of the Parliament.

1 Business Recorder
3.        FTB to discuss PM’s incentive today

The Federal Textile Board (FTB) will meet Saturday to discuss Prime Minister’s Export Incentive Package with respect to enhancement of textile exports as well as the formulation of a long-term plan for the development of the sector.

1 Business Recorder
4.        BR index extends gain

Pakistan Stock Exchange witnessed a positive trend following fresh buying in oversold marketFriday.
BRIndex100 gained another 70.85 points or 1.64 percent to close at 4,402.94. BRIndex100 touched intraday high of 4,409.56 and intraday low of 4,328.18 points. Total volumes stood at 106.422 million shares.

1 Business Recorder
5.        Microfinance banking industry shows 52.5pc growth

With an assets base of Rs 203.3 billion, the Microfinance Banking Industry grew by 52.5 percent during the last fiscal year (FY17).

  1 Business Recorder
6.        Over Rs1bn cellphones cleared in the grab of LED bulbs

Some four containers of different brands of cellphones worth over Rs1 billion have been cleared under the guise of LED bulbs in connivance with PRAL officials; it is learnt.

2 Business Recorder
7.        Energy plan being devised to produce electricity

As many as 15 different projects of solar, wind and bagasse will add 626 megawatts of electricity in the national grid by November next year.

3 Business Recorder
8.        World Bank terms Water Scarcity as biggest challenge

Water scarcity is the biggest challenge for Pakistan and is increasing in relative terms with population which requires better water management and smarter water use, said Dr William Young, lead water resources management specialist of the World Bank.

19 Business Recorder
9.        FTO asks FBR to work towards amending ST Act

In a major move to facilitate sales tax refund applicants, Federal Tax Ombudsman (FTO) Mushtaq Ahmad Sukhera has asked the Federal Board of Revenue (FBR) to consider amending relevant section of the Sales Tax Act, 1990 for inclusion of a specific period for deciding refund applications.

20 Business Recorder
10.     Withdrawal of increase in RD on imports demanded

Chairman of Pakistan Soap Manufacturers Association (PSMA) Tanvir Ahmad Sufi has condemned the imposition of regulatory duty on import of 144 new products and increase in the duty on existing 202 items in order to curtail rising trade deficit of the country.

5 Business Recorder
11.     3397 industrial units remain dysfunctional

As many as 3397 industrial units stand dysfunctional in Sindh province, which the government is ready to help make operational, Provincial Labour Minister told the Sindh Assembly on Friday.

5 Business Recorder
12.     Firm trend seen on cautious selling of ginners

Steadier trend was witnessed on the cotton market on Friday as some leading ginners refrained from selling in anticipation of further rise in prices, dealers said.

16 Business Recorder
13.     Cement despatches reach record high to 4.222m tons in Oct

Cement consumption continued to surge in October 2017 as the monthly despatches of the commodity reached a record high of 4.222 million tons, which is 19.71 percent higher than 3.526 million tons despatches in October 2016.

9 Business Recorder
14.     Pakistan’s first construction chemical plant inaugurated

Cement consumption continued to surge in October 2017 as the monthly despatches of the commodity reached a record high of 4.222 million tons, which is 19.71 percent higher than 3.526 million tons despatches in October 2016.

9 Business Recorder
15.     Promotion of SMEs, women entrepreneurs top on agenda: SCCI chief

President Sialkot Chamber of Commerce and Industry (SCCI), ZahildLatif Malik, has said that the promotion of SMEs and women entrepreneurs was top on SCCI agenda.

9 Business Recorder
16.     Smog, environmental issues: Over 300 hospitalized affecting everyday life

Smog and power outages yielding so many problems for peoples, while routine traffic including Railways also severely disturbed. Two persons were killed, 24 injured in road accidents causing Smog and more than 300 people with majority of women and children, hospitalized due to environmental issues.

9 Business Recorder
17.     LCCI lauds PM’s support for simplified tax system

The Lahore Chamber of Commerce & Industry on Friday appreciated Prime Minister ShahidKhaqanAbbasi and his Special Assistant Haroon Akhter for siding with business community demands regarding simplified tax system and end to harassment of the businessmen.

9 Business Recorder
18.     Glaciers face new threats from highway’s black carbon

This border outpost on the Karakoram Highway, slashed through the glacier-strewn Karakoram mountains to join China and Pakistan by road, boasts a new world record: it has the world`s highest automated bank teller machine.

3 Dawn
19.     Work on Pak-Iran gas pipeline halted due to sanctions, NA told

The federal government was not moving ahead on the Pakistan-Iran gas pipeline project due to multilateral and unilateral sanctions imposed on Iran, parliamentary secretary ShehzadiUmerzadiTiwana told the National Assembly on Friday.

5 Dawn
20.     Uptick in weekly inflation

Weekly inflation based on the Sensitive Price Indicator (SPI) for the seven-day period ending on Nov 2 for the combined income groups was 0.97 per cent, the PakistanBureauofStadsucs (PBS) reported on Friday.

10 Dawn
21.     Cotton production rises

The country has so far produced 1.186 million more cotton bales than the production recorded up to Nov 1 last year, which makes the 201718 target of 12.6m bales achievable.

10 Dawn
22.     Govt for boosting trade volume with Senegal

Commerce Minister Pervaiz Malik on Friday informed the National Assembly that initiatives had been taken to boost trade with Senegal, which has been stagnating in the range of $40 million to $50m for the past several years.


10 Dawn
23. Currency exchange rates









Selling TT&OD






Buying TT Clean






Buying OD/T.CHQ






7 Business Recorder


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