Important Business News
9th March, 2018
Miftah, foreign banks’ representatives discuss state of economy
Adviser to Prime Minister on Finance Miftah Ismail held a meeting with senior representatives of various foreign banks based in Pakistan, here on Thursday.
Senate’s chairmanship: PPP’s ‘abandoned’ Rabbani now PML-N’s candidate
Former Prime Minister and Quaid of Pakistan Muslim League Nawaz (PML-N) Nawaz Sharif Thursday said that his party has nominated Pakistan Peoples Party’s (PPP) RazaRabbani as candidate for the slot of chairman Senate to curb horse-trading.
IAs of 990MW Thar coal projects inked
The Implementation Agreements (IAs) of two Thar coal-based power generation projects totaling 990 MW were signed Thursday at Private Power and Infrastructure Board (PPIB) for materializing the financing of $1,490 million as the cumulative projects cost.
Change in economic merit order of power plants proposed
Commerce Division has floated a proposal for the Economic Coordination Committee of the Cabinet for change in economic merit order for power plants aimed at rationalization of imported fuel to contain trade deficit, well-informed sources told Business Recorder.
FATF challenge: MoF-led body evolving action plan
A ministerial committee led by Ministry of Finance will meet first time at the Foreign Office next week to finalize an action plan in compliance with the decision of Financial Action Task Force (FATF) which placed Pakistan on the global terror financing watch list.
Undeclared foreign assets: NAB hints at probing persons to be reprieved under amnesty
Single window operation for export rebate urged
The government needs to computerize the mechanism of export rebate/refund through single window operation as difficulties in claiming refunds by exporters have been impacting exports.
National Highway Authority (NHA) has proposed over Rs 326 billion for 14 China-Pakistan Economic Corridor (CPEC) related road projects in the Public Sector Development Program (PSDP) 2018-19. According to documents available with Business Recorder, the NHA has proposed a total of Rs 823.13 billion for 103 ongoing and new projects in PSDP 2018-19 including Rs 471.62 billion local and Rs 351.5 billion foreign components.
The country’s liquid foreign exchange reserves fell by $84 million during the last week due to external debt payment. The State Bank of Pakistan (SBP) Thursday reported that the country’s total foreign exchange reserves stood at $18.329 billion as on March 2, 2018 compared to $18.413 billion a week earlier.
Businessmen urged to benefit from CPEC’s industrialization phase
Former Vice President Faisalabad Chamber of Commerce & Industry (FCCI) Engineer Ahmad Hassan has said that industrialization phase of China-Pakistan Economic Corridor (CPEC) has opened new avenues of value-addition in textile garment sector instead of sticking to the export of raw or semi-finished products and Pakistan should work under a comprehensive and planned strategy to exploit one belt one road to carter to the garment needs of the countries from Gulf up to Europe.
Drip irrigation being encouraged in Punjab
The Punjab government is encouraging the drip irrigation to overcome water scarcity in the province.
Pakistani cos to take part in China import expo
A large number of Pakistani companies are expected to take part in the China International Import Expo being organized by the Ministry of Commerce of China in November this year.
Cotton prices remain steady
Neshpa Oil & Gas and LPG project inaugurated: Pakistan making tremendous progress in energy sector: PM
The Prime Minister, ShahidKhaqanAbbasi, has said that during last five years Pakistan has made tremendous progress in all the sectors especially energy, oil, gas and LPG and the country has been producing surplus electricity.
|15.||Abbasi directs speedy finalisation of GI law
International brands continue selling Pakistan-origin goods due to non-finalisation of Geographical Indication (GI) Law that aims to protect commercial heritage of the country`s products including Basmati rice and Ajrak.
|16.||Auto assemblers shifting investments to Punjab
Investors at the Bin Qasim Industrial Park (BQIP) and Korangi Creek Industrial Park (KCIP) allege that bureaucratic hurdles of National Investment Park (NIP) are delaying the implementation of projects, thereby resulting in mountings costs and time overruns.
|International Business News|
China exports surge most in 3 years
China’s exports unexpectedly surged at the fastest pace in three years in February, suggesting both its economy and global growth remain resilient even as trade relations with the United States rapidly deteriorate.
How does IMF appreciate our economy?
The International Monetary Fund (IMF) has expressed its grave concerns over the state of country’s economy because of “weakening macroeconomic situation, decline in foreign exchange reserves and increased risks to Pakistan’s economic and financial outlook and its medium-term debt sustainability.” This newspaper has been urging the government for the past three years to revisit flawed policies that would, in time, result in weaknesses in key macroeconomic indicators, a concern proved valid given the release of data for the past year and a half.
‘Exchange rate needs to be adjusted by a further: 5 percent in the near term’: Interview
|20.||Currency exchange rates