Important Business News 5th March, 2018

Important Business News

5thMarch, 2018

S.# Description Pg # Source

Non-CPEC projects: China willing to lend a helping hand 
Pakistan and China are to discuss a financial mechanism for further financing of development projects in addition to projects falling under the umbrella of China Pakistan Economic Corridor (CPEC), well- informed sources in Planning Division told Business Recorder.
This proposal was discussed at a meeting of Cabinet Committee on CPEC, headed by Prime Minister, ShahidKhaqanAbbasi.

1 Business Recorder

COAS lays foundation stone of Gwadar desalination plant

Chief of Army Staff (COAS), General QamarJavedBajwa laid foundation stone of United Arab Emirates (UAE) and Swiss governments’ supported Gwadar desalination plant at Gwadar on Sunday.
The project fulfills long-awaited demand of locals, which shall provide them 4.4 million gallons water per day with capacity to increase to 8.8 million gallons per day, said a press release issued by Inter-Services Public Relations (ISPR).

1 Business Recorder

Refund claims hit by inconsistency

There is an inconsistency of Rs 90 billion between the pending refund claims cited by Minister of State for Finance Rana Muhammad Afzal Khan and those claimed by the exporters.
In a recent statement, Minister of State for Finance stated that there are approximately Rs 160 billion pending refund claims of exporters which will be released soon to support the value-added sector. He further stated that serious efforts are underway to clear all refund pay orders (RPOs) in one go.

1 Business Recorder

Exploitation of CPEC potential President exhorts Baloch youths to acquire knowledge of modern sciences

President Mamnoon Hussain on Sunday urged the youngsters of Balochistan province to achieve excellence in modern sciences to fully exploit the imminent development opportunities under China-Pakistan Economic Corridor.
Addressing the concluding ceremony of Sibi festival here, the president advised the Balochistan government to formulate a comprehensive policy to train the youngsters in the fields of sailing, its allied professions, modern banking, business techniques as well as the hospitality of the foreign tourists.

3 Business Recorder

P&D chief highlights multi-sectoral economic reforms of Punjab govt

As the Pakistan Muslim League-N’s ten year rule in Punjab is coming to an end in about ten weeks, Business Recorder talked with Chairman Planning and Development Punjab Muhammad Jehanzeb Khan about Government of Punjab’s program of multi-sectoral reforms focused on improving competitiveness in Punjab as the business environment is a crucial determinant of the competitiveness of the private sector which depends on a well-functioning investment climate.

5 Business Recorder
6.       Concern over high demand for ephedrine in Pakistan

The International Narcotics Control Board (INCB) has expressed concern over unusual high annual legitimate requirements of ephedrine in Pakistan.
Unlike other countries, Pakistan`s requirements remained unchanged in recent years. A court case on the alleged domestic diversion of significant amounts of ephedrine in Pakistan has been ongoing since 2012, with no conclusion emerged yet, the INCB says in its annual report 2017 released the other day.

5 Dawn

FATF and Pakistan- Editorial

Minister of State for Finance Rana Afzal told a foreign news agency that Pakistan “will start meeting on the issue of Financial Action Task Force (FATF) after March 1 to see what we can do on this and what strategy we can devise.” The de facto Finance Minister of the country, Miftah Ismail, with the title of Advisor to the Prime Minister on Finance, Revenue and Economic Affairs with a status of a federal minister, the most vocal amongst the four members of the top executive engaged in diplomatically defending Pakistan’s stance, dismissed concerns that placing Pakistan on the grey list would negatively impact on the country’s growth and accused the United States of seeking to “embarrass” Pakistan.

16 Business Recorder
8.       Currency exchange rates










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