Important Business News
6th March, 2018
Rice exporters’ body says Indian cos fraudulently using Pakistani brands
Indian origin companies are trying to export Pakistani rice to Indonesia with their label.
PBIF chief for discovering new potential markets for towel exports
President Pakistan Businessmen and Intellectuals Forum (PBIF), MianZahid Hussain has emphasized the need for searching new potential markets for towel exports.
Size of borrowing bigger than total budget outlay: PPP Senator
Pakistan Peoples Party (PPP) Senator Sherry Rehman on Monday left the government red-faced in the Senate after she claimed that domestic borrowing of the country has touched the alarming mark of over Rs16 trillion – a figure much bigger than the total annual budget of the country.
Transformational change possible through practical steps: Shahbaz
Punjab Chief Minister Muhammad Shahbaz Sharif Monday said that defeat has become the fate of those who have remained involved in sit-ins and politics of agitation because change is ensured through practical steps instead of hollow slogans.
Cotton prices fall on thin trade
Instead of gaining ground, prices fell on the cotton market on Monday in the process of thin trade activity, dealers said.
Mobile phones: RD valid, lawful even on imports from Beijing: SC
|7.||Govt seeks to reduce supplies as demand for LNG fades
Amid delays in the commercial operations of three mega projects of about 3,600 megawatts in Punjab, the government on Monday directed scaling down supplies of Liquefied Natural Gas (LNG) from both specialised import terminals as fuel demand faded.
|International Business News|
Russian co eyeing up PSM deal
As US influence in Islamabad wanes, Pakistan’s former adversary Russia is building military, diplomatic and economic ties that could upend historic alliances in the region and open up a fast-growing gas market for Moscow’s energy companies.
Pakistan, Nepal agree to boost economic, defence ties
Prime Minister ShahidKhaqanAbbasi and Nepal’s Prime Minister Khadga Prasad Sharma Oli met here on Monday and agreed to enhance cooperation in areas of economy, defence and culture.
Rising deficit in services- Editorial
The country’s services sector posted a trade deficit of 2.95 billion dollars during the first seven months of the current fiscal year (July-January) – higher than 2.685 billion dollars during the comparable period of the year before. In 2008, the services sector deficit was 6.5 billion dollars with the major contributor being sea transport (freight) to the tune of a negative 2.49 billion dollars, personal travel a negative 1.3 billion dollars (with education accounting for negative 1.3 billion dollars) and financial services negative 141.4 million dollars.
Growth in tax revenues- Article
Tax revenues have shown buoyancy in the first half of 2017-18. The overall growth rate in these revenues of the federal and provincial governments combined is 16 percent. During the corresponding period of 2016-17, the growth rate was substantially lower at only 6 percent. If this buoyancy continues then there will be a significant increase in the tax-to-GDP ratio this year.
|12.||Currency exchange rates
Services Sector’s Trade Analysis:
- The country’s services trade posted some $3 billion deficit during the first seven months of this fiscal year (FY18) , swelled by 9 percent as compared to the corresponding period of FY17.
- Pakistan’s services sector exports moved up by $134 million to $2.995 billion in Jul-Jan of FY18 compared to $2.860 billion in the corresponding period of last fiscal year, posted an increase of 5 percent.
- Net software services exports reached $ 612 million in the period, boosted net exports of the overall telecom, computer and information group by 15 percent.
- The country earned $543 million on account of transportation services up from $516 million, $217 million from travel, $40 million on account of construction, $63 million through financial services, $19 million from insurance sector and some $759 million on account of government services.
- Services sector imports stood at $5.952 billion in Jul-Jan of FY18 against $5.545 billion in Jul-Jan of FY17, showing an increase of $407 million, rose by 7 percent.
- Transportation payments (imports) stood at $2.218 billion, travel $1.216 billion, telecommunication $281 million, financial sector $101 million, insurance $137 million, charges for use of intellectual propriety were $139 million and an amount of $329 million was paid as government services.
Source: State Bank of Pakistan