Important Business News Friday 20th November 2020

S.# Description Pg # Source
1. Onward submission to ECC PM approves incentive-laden textile policy
Prime Minister Imran Khan has approved Textile Policy 2020-25 for onward submission to the Economic Coordination Committee (ECC) of the Cabinet, well-informed sources told Business Recorder.
1     Business Recorder
2. C/A stays surplus for 4th month The country has posted its fourth consecutive monthly current account (C/A) surplus of $382 million for October 2020, taking the first four months of FY21 surplus to $1,160 million. 1 Business Recorder
3. NTC to be exempted from 8pc minimum tax The government has reportedly decided to exempt National Telecommuni-cation Corporation (NTC) from 8 percent minimum tax, through amendment to Income Tax Ordinance 2001. 1   Business Recorder
4. Readymade garments, bedwear exports post growth: Hafeez Despite Covid-19, exports of knitwear, bedwear, and readymade garments have shown growth of 12.3 percent, 10 percent, and 4.7 percent, respectively during the first four months of the current fiscal year over the same period a year before, said Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh. 1 Business Recorder
5. THE RUPEE: Fall above 160 against USD On Thursday, PKR continued to fall going above 160 against USD in both interbank and open markets. It also continued to fall against Euro, AED and SR in open market. 1 Business Recorder
6. KSE-100 Index slightly up BRIndex100 inches up
Pakistan Stock Exchange Thursday witnessed a mixed trend, however closed on a positive note due to buying in certain stocks at the fag end.
1 Business Recorder
7. Pakistan Industrial Expo 2020: Agreements worth $14 million expected from Chinese industrialists Agreements worth US$14 million are expected to reach between Pakistani and Chinese industrialists as a result of 448 matchmaking meetings taking place during the Pakistan Industrial Expo 2020 held in the provincial metropolis. 5 Business Recorder
8. KCA raises cotton spot rate by Rs50 to Rs9300 The Spot Rate Committee of the Karachi Cotton Association on Thursday has increased the spot rate by Rs 50 per maund and closed it at Rs 9300 per maund. 8 Business Recorder
9. No decision on unbundling of SSGC, SNGPL The Cabinet Committee on Energy (CCoE) on Thursday deferred a final decision relating to unbundling of gas utilities Sui Nothern Gas Pipelines Ltd (SNGPL) and Sui Southern Gas Company Ltd (SSGCL) and instead decided to constitute a sub-committee to examine the proposal at length and see if domestic consultants could come up with a way forward. 9 Dawn
10. Monetary policy on Monday The SBP on Thursday said the Monetary Policy Committee will meet on Nov 23 (Monday) at Karachi to announce the monetary policy.   9 Dawn
11. MoU for virtual LNG pipeline signed The Karachi Port Trust on Thursday signed a memorandum of understanding with the Pakistan Railways, LNG Easy Ltd and Metrogas Ltd for the development of a Virtual Pipeline facility, a press release said. 9 Dawn
12. 1.4m tonnes of wheat due in Dec-Feb Saying that flour price was showing downward trends with the improved supply of wheat, the Ministry of National Food Security and Research said on Thursday that seven vessels carrying around 400,000 tonnes of wheat will dock at Karachi port this month. 9 Dawn
13. Non-textile exports rise 3pc in October  Pakistan`s non-textile exports grew 2.85 per cent to $0.82 billion in October compared to $0.8bnin the same monthlastyear, showed data released by the Pakistan Bureau of Statistics (PBS) on Thursday. 9 Dawn
14. CCP seizes record of cement makers The Competition Commission of Pakistan (CCP) team on Thursday carried out a search and inspection of the All Pakistan Cement Manufacturers Association (APCMA) offices in Karachi to investigate possible anticompetitive activities by manufacturers. 9   Dawn
  Editorial News    
15. Power trade market: a good first step Last week, NEPRA approved the design and implementation plan of Competitive Trading Bilateral Contract Market (CTBCM). It’s a long-awaited step and was envisaged in WAPDA’s de-bundling plan of 1992. 14 Business Recorder
16. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   159.75 211.41 189.23 24.46 42. 64
9 Business Recorder

Leave a Reply