Important Business News Sunday 15th November, 2020

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1. SECP defines govt debt securities The Securities and Exchange Commission of Pakistan (SECP) has said that Government Debt Securities means a debt security such as Treasury Bill (T-Bill), Pakistan Investment Bond (PIB), Government of Pakistan (GoP) Ijarah Sukuk and any other debt instrument issued by the federal government, the provisional government, the local government/authority, and any other statutory body. 1     Business Recorder
2. Goods classification, determination FBR notifies facility of advance ruling to importers
The Federal Board of Revenue (FBR) has notified facility of advance ruling to importers for customs tariff classification of goods, determination of origin of the goods under bilateral/multilateral agreements, and applicability of notifications under Customs Act, 1969.
1 Business Recorder
3. Pakistan-Russia JCC on NSGP project planned for next month The Petro-leum Division plans to hold 8th session of Pakistan-Russia JCC on North South Gas Pipeline (NSGP) project next month (December 2020). 1 Business Recorder
4. Hammad promises to end unnecessary taxes on businesses Federal Minister for Industries & Productions Hammad Azhar on Saturday promised to end unnecessary tax burden on businesses. 2   Business Recorder
5. Cut in power tariff for SMEs  ‘Increasing circular debt a continuous threat for govt’s move’
President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Mian Anjum Nisar has said that the increasing circular debt in the power sector is a continuous threat for the government’s recent move of cut in power tariff for SMEs.
3 Business Recorder
6. ‘Strengthening of rupee, increasing remittances encouraging’ Chairman of National Business Group and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said that the rupee is strengthening against the dollar which is reducing loans and inflation while remittances are increasing which are consolidating forex reserves which is encouraging. 3 Business Recorder
7. Bearish trend witnessed on cotton market The local cotton market remained bearish on Saturday. Market sources told that mills were involved in cautious buying due to which the trading volume remained low. The business remained low in Sindh due to Diwali celebrations. 5 Business Recorder
8. US dollar falls to eight-month low The exchange rate further strengthened in the outgoing week as dollar kept falling against the local currency declining to eight-month low in the open market. The relentless declines of recent weeks has driven the rupee closer to the value it was at during the opening weeks of 2020.   10 Dawn
9. Circular debt will continue to haunt PM, says FPCCI `The issue of circular debt will continue to haunt Prime Minister Imran Khan`s resolve of reducing cost of doing business, elimination of peak-hour charges from industrial power tariff and discount on consumption of additional units for B1, B2 B3 connections,` Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar said on Saturday.   10 Dawn
10. Exports to region down 24.4pc in Q1 Pakistan`s exports to the region in the ñrst quarter of current ñscal year declined 24.4 per cent from an year ago due to the impact of Covid-19.   10 Dawn
11. Stocks see-saw in outgoing week The stock market remained highly volatile during the outgoing week as investors` sentiments remained hostage to news flow over the global and local devastation caused by the Covid-19 pandemic.   10 Dawn

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