Important Business News 6th September, 2020

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1. PM unveils Karachi ‘ transformation’ plan Prime Minister Imran Khan Saturday announced a Rs1,100 billion package under the Karachi Transformation Plan to resolve the lingering and chronic issues of the port city, including provision of clean drinking water, cleaning of drains, and sewage and solid waste disposal within three years.   https://epaper.brecorder.com/2020/09/06/1-page/850425-news.html 1           Business Recorder
2. PD yet to firm up mechanism to recover GIDC The Petr-oleum Division is yet to finalise a mechanism to recover Rs400 billion of Gas Infrastructure Development Cess (GIDC) from the industry in the light of Supreme Court’s decision. https://epaper.brecorder.com/2020/09/06/1-page/850435-news.html 1       Business Recorder
3. SPI up 0.80pc WoW The Sensitive Price Indicator (SPI) for the week ended September 3, 2020, recorded an increase of 0.80 percent over the last week due to rise in food items, ie, tomatoes (26.57 percent), onion (11.66 percent), eggs (4.14 percent), potatoes (3.02 percent), and non-food item LPG (1.59 percent). https://epaper.brecorder.com/2020/09/06/1-page/850434-news.html 1 Business Recorder
4. Obtaining of right shares by directors, shareholders allowed The Securities and Exchange Commission of Pakistan (SECP) has allowed directors and substantial shareholders of the listed companies to obtain right shares after fulfillment of certain conditions. https://epaper.brecorder.com/2020/09/06/2-page/850454-news.html 2 Business Recorder
5. Punjab govt to opt for solar power Over 93000 electricity connections with annual bill of Rs 30 billion have propelled the Punjab government to opt for solarization as the way forward in order to reduce electricity bills and improve the environment, said provincial energy department sources. https://www.brecorder.com/news/40016752/punjab-govt-to-opt-for-solar- 2 Business Recorder
6. ‘Pakistan develops first bloodless, affordable dialysis machine for kidney disease treatment’ By the time people are diagnosed with advanced-stage kidney disease and recommended dialysis treatments, they have been through a lot of pain and agony. https://epaper.brecorder.com/2020/09/06/3-page/850463-news.html 3 Business Recorder
   7. Int’l tender of ML-1 to be issued on 12th: Rashid Federal Minister for Railways Sheikh Rashid Ahmad has said that international tender of ML-1 project will be issued on the 12th of this month and Pakistan Railways will enter into a new era after completion of this project. https://epaper.brecorder.com/2020/09/06/3-page/850466-news.html 3 Business Recorder
8. Export facilitation centre opened at LCCI Razak assures support for exports enhancement Advisor to Prime Minister for Commerce and Investment Abdul Razak Dawood on Saturday assured full support to the exporters and exports enhancement.  https://epaper.brecorder.com/2020/09/06/11-page/850514-news.html 11 Business Recorder
9. Another consignment of wheat arrives A second ship with 65,000 metric tons of wheat has arrived from Ukraine, and a third one with 69,000 metric tons of wheat will reach Karachi port on Tuesday. https://epaper.brecorder.com/2020/09/06/11-page/850518-news.html 11 Business Recorder
10. 65pc more refunds processed in FY 20, NA panel told The government has stated that 65 percent more refunds have been processed through a centralised automated system during the fiscal year 2019-20 as compared to the preceding fiscal year. https://epaper.brecorder.com/2020/09/06/12-page/850532-news.html 12 Business Recorder
11. Industry convulsed by GIDC Prime Minister Imran Khan has cooled down industrialists regarding the boiling issue of gas infrastructure development cess (GIDC) by assuring them `he is working to resolve the issue. https://epaper.dawn.com/DetailImage.php?StoryImage=06_09_2020_009_006 9 Dawn
12. Textile exporters claim cess not applicable on them The textile industry is asking the prime minister to issue directives to collect gas infrastructure developmentcess(GIDC)`onlyfrom those who are liable to pay` arguing that the sector has neither collected nor passed on the GIDC in its sales all the time the matter was pending before the court. https://epaper.dawn.com/DetailImage.php?StoryImage=06_09_2020_009_003 9 Dawn
13. Another bullish week lifts stock market above 42,000 level The Pakistan stock market staged rally in another spectacular week with the KSE-100 index clocking in gains of 967 points (2.4 per cent) and settling at 42,023. https://epaper.dawn.com/DetailImage.php?StoryImage=06_09_2020_009_005   9 Dawn
14. WB support sought to build power project on Swat river The Khyber-Pakhtunkhwa government is seeking World Bank assistance for the development of 88MW run-of-river hydropower project on the Gabral tributary of the Swat river to generate about 339 gigawatt hours of electricity annually. https://epaper.dawn.com/DetailImage.php?StoryImage=06_09_2020_009_004   9 Dawn
  Editorial News    
15. The economics of terrorism Finally, a serious publication of an internationally recognized organization has presented analysis of data sets that begin to establish a very direct relationship between economics and militancy and even acts of terrorism. https://epaper.brecorder.com/2020/09/06/10-page/850506-news.html 10     Business Recorder

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