Important Business News 8th March, 2018

Important Business News

8th March, 2018

S.# Description Pg # Source
1.      

IMF concerned at grave risks to outlook

The International Monetary Fund (IMF) has expressed concern over weakening macroeconomic situation, decline in foreign exchange reserves, and increased risks to Pakistan’s economic and financial outlook and its medium-term debt sustainability.
The IMF Executive Board on March 5 concluded the first post-program monitoring discussions with Pakistan. The Fund released the statement almost one and a half day after the conclusion of its Executive Board meeting.

http://epaper.brecorder.com/2018/03/08/1-page/703652-news.html

1 Business Recorder
2.      

ECC decides to procure sugar from mills

The Economic Coordination Committee (ECC) of the Cabinet has decided to procure 0.3 million metric tons of sugar from mills and approved issuance of a government guarantee against financing facility of Rs13.132 billion from local banks for 1,320MW imported coal power plant at Hub.

http://epaper.brecorder.com/2018/03/08/1-page/703646-news.html

1 Business Recorder
3.      

PML-N ready to join hands against menace of horse-trading: Nawaz

Former Prime Minister and Quaid of Pakistan Muslim League-Nawaz (PML-N) Nawaz Sharif on Wednesday said that his party is ready to devise a strategy against horse-trading along with other political parties which believe that there was horse-trading in the recent Senate elections.

http://epaper.brecorder.com/2018/03/08/3-page/703663-news.html

3 Business Recorder
4.      

Country to have first national water policy soon: Wapda chief

Chairman WAPDA Lt General Muzammil Hussain (retd) has said that first-ever National Water Policy would be launched soon which would help overcome water challenges.
He said the energy and food security is as essential as security of borders. The country is preserving only 10 percent of flowing water despite the fact that water resources are depleting. Pakistan stands at 15th in the list of water deprived countries, he said.

http://epaper.brecorder.com/2018/03/08/17-page/703752-news.html

17 Business Recorder
5.      

Import, export, transit-related regulatory requirements

Minister of State for Finance Rana Muhammad Afzal Khan on Wednesday said that National Single Window (NSW) will be set up at Federal Board of Revenue (FBR) in one to two years. The project has been designed so that all parties involved in trade and transport may file standardized information and documents at a single entry point for all import, export and transit-related regulatory requirements, the minister said while speaking at the inaugural session of the two-day National Single Window Stakeholders Conference.

http://epaper.brecorder.com/2018/03/08/21-page/703791-news.html

21 Business Recorder
6.       Rs93bn approved for energy sector

The government on Wednesday approved more than Rs93 billion worth of financing plan, mostly through loans, for the energy sector to avoid loadshedding and 6.1 million tons of procurement target for wheat season 2017-18.

https://epaper.dawn.com/DetailImage.php?StoryImage=08_03_2018_010_004

10 Dawn
  Editorial/Reports    
7.      

Will textile output post zero growth in FY18?- An Analysis

Annual growth in the production of cotton yarn and cotton cloth has suffered stagnancy over the last few years. Would this year be any better than the last given the host of incentives recently provided to the textile sector?
Analysis of the production data of these two items tracked by the Large Scale Manufacturing (LSM) index of Pakistan Bureau of Statistics, shows that since FY09 the growth in production of both cotton cloth and cotton yarn has been zero, or otherwise negligible ranging from 0-2 percent (barring a few exceptions).

http://epaper.brecorder.com/2018/03/08/2-page/703656-news.html

2 Business Recorder
8.      

Unprecedented rise in domestic debt- Editorial

The Pakistan Peoples’ Party Senator, Sherry Rehman, stated on the floor of the House that domestic borrowing is over 16 trillion rupees, more than the total annual budget outlay for the year. The Economic Survey 2016-17, released by the Economic Advisor’s Wing that is administratively under the control of the Ministry of Finance, gives the provisional gross domestic debt for last fiscal year (2017) at 14.7 trillion rupees. And the State Bank of Pakistan website gives the provisional total till December 2017 at 15.4 trillion rupees.

http://epaper.brecorder.com/2018/03/08/20-page/703780-news.html

20 Business Recorder
9.       Currency exchange rates

 

Countries

 

U.S.A

U.K

EURO

CANADA

CHINA

SAUDIA ARABIA

Selling TT & OD110.50

153.55

137.25

85.52

17.91

29.46

Buying TT Clean

110.30

153.27

137.00

85.36

17.87

29.41

Buying OD/T.CHQ

110.07

152.95

136.72

85.14

17.83

29.33

 11 Business Recorder

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