Important Business News 17th May, 2020

S.# Description Pg # Source
01. RLNG’s UFG PD-Ogra dispute lands in ECC The dispute between Petroleum Division and Oil and Gas Regulatory Authority (Ogra) on a proposal meant to recover RLNG’s UFG from RLNG consumers in a staggered manner with the least impact on the current RLNG sale price has landed in the Economic Coordination Committee of the cabinet, sources close to Prime Minister’s Special Assistant to Petroleum told Business Recorder. 01 Business Recorder
02. PIA resumes partial domestic operations    PIA Domestic Flight Operation resumed partially on 16 May 2020. The first domestic flight PK 8304 took off from Jinnah International Airport for Lahore on Saturday afternoon at 1:30 pm carrying 84 passengers while the return flight PK 8305 took off from Allama Iqbal International Airport at 4:30 pm for Karachi with 100 passengers. 01 Business Recorder
03. Transporters in Pubjab allowed to resume inter-city, inter-district services The Chief Minister of Punjab, Sardar Usman Buzdar, has given permission to the transporters to resume plying inter-city and inter-district transport services for providing relief to the common man. The Punjab government has also announced 20 percent cut in transport fares. 01 Business Recorder
04. Eid holidays announced The federal government announced on Saturday that there will be public holidays from May 22 to May 27 for Eid-ul-Fitr. 01 Business Recorder
05. Fertilizer industry seeks consultation on subsidy to farmers Fertilizer industry has asked the Ministry of Industries and Production to convene a meeting for consultation on release of recently approved subsidy to farmers. 01 Business Recorder
06. Bill to amend Cos Act being moved FATF-related concerns to be addressed  The government is introducing a new bill to amend Companies Act, 2017, to address the Financial Action Taskforce (FATF)-related concerns specifically money laundering, countering terrorist financing, and information about beneficial ownership of companies. 01 Business Recorder
07. Category-IV of Ehsaas Programme to begin tomorrow The newly-added category-IV of ongoing Ehsaas Emergency Cash Programme to provide financial assistance to those who have lost their livelihoods as a result of the outbreak of coronavirus in Pakistan would start Monday (May 18). 01 Business Recorder
08. Reduction in CNG prices likely after decline in RLNG prices  Compressed Natural Gas (CNG) Association has yet to announce a reduction in the prices of CNG following significant decline in the prices of re-gasified liquefied natural gas (RLNG) for May. 07 Business Recorder
09. Prices of essential kitchen items witness increasing trend The prices of major essential kitchen items have witnessed an increasing trend during the past week compared to the week before, a survey conducted by Business Recorder revealed here on Saturday. 07 Business Recorder
10. ECC told Provinces, PASSCO procure 3.422m tons of wheat so far A meeting of the Economic Coordination Committee (ECC) of the Cabinet has been informed by the Ministry of National Food Security and Research that provinces and the PASSCO have so far procured only 3.422 million tons wheat against or 41.9 percent of the target of 8.25 million set for the fiscal year 2020. 08 Business Recorder
11. Proposed development budget discussed   Minister for Planning and Development Asad Umar Saturday said that the government will ensure provision of funds for projects in Karachi. 08 Business Recorder
12. Ruet-e-Hilal session to begin on 23rd A Ruet-e-Hilal Committee session has been called for May 23 to sight the Shawwal moon to announce the next Islamic month in the lunar calendar. 08 Business Recorder
13. Pakistan records 30pc increase in testing The National Command and Operation Centre (NCOC) has stated that over 14,000 tests for coronavirus were held across the country in a single day, taking the tally of tests conducted so far to around 360,000. 01 Dawn
14. Imports of auto parts, accessories The import of completely and semi knocked down (CKD/SKD) kits for locally assembled cars has risen substantially in the last two months amid shutdown of assembling units due to coronavirus. 09 Dawn
15. Five-day rally on PSX after 26 In the outgoing week, the stock market posted gains in all five sessions, which was a positive event seen after 26 weeks. The KSE100 index surged by 741 points (2.2 per cent) and closed at 34,008, bolting past the psychological barrier of 34,000. 09 Dawn
16. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   160.50 198.00 172.00 22.20 43.00
  Urdu Point

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