Important Business News
7th March, 2018
Structural reforms: IMF appreciates criticality of broader political consensus
PC directed to move ahead with PSM restructuring/ sell-off
Federal Minister for PrivatisationDaniyal Aziz chaired a high- level meeting on Tuesday with the officials of Sui Southern Gas Company, National Bank of Pakistan, Ministry of Finance, Pakistan-China Investment Company Limited, and Pakistan Steel Mills Limited and discussed the long outstanding issue of PSM major liabilities, prior to proceeding with the proposed lease model of PSMC.
Transfer of PCCC control back to food ministry approved by Cabinet
The federal cabinet on Tuesday approved the transfer of administrative control of Pakistan Central Cotton Committee (PCCC) and cotton related matters back to Ministry of National Food Security and Research (MNFS&R).
|4.||PBC holds seminar on ’Documentation of Economy’
Pakistan Business Council (PBC) in collaboration with the Institute of Chartered Accountants of Pakistan (ICAP) organised a seminar on the “Documentation of the economy” focusing on remittances under Section 111 (4) of the Income Tax Ordinance and the regulations governing foreign currency accounts.
|5.||PIAF urges govt to ensure payment of Rs250bn refunds to exporters
The Pakistan Industrial and Traders Associations Front (PIAF) have urged the government to ensure early payment of stuck-up refund claims of the export-oriented sector worth Rs250 billion which had already been promised many times by the concerned government officials.
Punjab PA adopts resolution for building water reservoirs
The Punjab Assembly on Tuesday passed a resolution for building water reservoirs according to the feasibility reports of Water and Power Development Authority. The House also passed a resolution of giving ownership rights to KachiAbadis declared by the Lahore Development Authority according to the policy.
Textile Innovation Exhibition: FCCI chief lauds DICE’s efforts
Cotton market: Prices firm as spinners indulge in fresh buying
|9.||Pakistan lagging behind rivals in textile competitiveness
Pakistan`s production and earning capacity is far lower as it earns $1 billion through the products of one million cotton bales while Bangladesh and Vietnam earn $6bn and $8bn, respectively, said Asma Khalid, senior economist at State Bank.
|International Business News|
|10.||China opposes use of finance as ‘political tool’ against Pakistan
China on Tuesday said it opposed the use of finance as a political measure to put pressure on Pakistan and asked the international community to objectively and justly treat the Pakistani anti-terrorist efforts, instead of simply blaming it.
|11.||Oil sector needs $20tr investments
The global oil and gas industry needs to invest more than $20 trillion over the next 25 years to meet expected growth in demand and compensate for the natural decline in developed fields, Saudi Aramco Chief Executive Officer Amin Nasser said on Tuesday.
|12.||The Chinese debt – An Analysis
There is no surprise in the fact that China is the biggest lender to Pakistan, including both public and private debt. The real story is the amount of debt Pakistan owes China. There is no clear data set that explicitly states Chinese loans to Pakistan. An estimate is that around $19-20 billion out of $90 billion total debt and liabilities of Pakistan is Chinese i.e. over one fifth of the overall debt.http://epaper.brecorder.com/2018/03/07/2-page/703465-news.html
PIA-PSM sell-off plan- Editorial
Imran Khan, Chairman Pakistan Tehreek-e-Insaf (PTI) while addressing Pakistan International Airlines (PIA) employees at Quaid-e-Azam International Airport in Karachi recently categorically stated that the federal government does not have the mandate to privatise the national airline. Earlier, the PPP too voiced its firm opposition to such a move and the Sindh Assembly passed a resolution opposing sell-off plans of PIA and PSM. Business Recorder fully supports the PTI and PPP contention that with three months remaining for the incumbent administration’s tenure to end, there is simply not enough time to privatise such a large organisation which, as per government ministers, envisages first splitting the core from the non-core business and selling-off the latter.
|14.||Currency exchange rates