Important Business News 27th July, 2020

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1. Tax-to-GDP ratio declines to historic low Pakistan’s tax-to-GDP ratio has declined to a historic low of around nine percent during the fiscal year 2019-2020 compared to 11.1 percent in 2017-2018, largely because of lack of leadership at the Federal Board of Revenue (FBR), increase in corruption within the tax machinery, and flawed tax policy measures. 1 Business Recorder
2. Activities at Gwadar port picking up: CPEC chairman Special Assistant to the Prime Minister on Information and Broadcasting Lt-Gen Asim Saleem Bajwa (retd) on Sunday said that development activities at Gwadar port were picking up to make it a world class port city. 1 Business Recorder
3. Govt-IPPs talks yield no results The parleys between Independent Power Producers (IPPs) and the government are reportedly heading nowhere due to latter’s “unrealistic” demands, well informed sources in PPIB told Business Recorder.   1 Business Recorder
4. Construction sector Tax experts challenge certain conditions of package
Tax experts have challenged certain conditions of the incentive package for the construction sector, which so far was unable to attract developers and builders in making new investments within the given timelines under the Tax Laws (Amendment) Ordinance, 2020.
1 Business Recorder
5. Positive trend prevails Pakistan Stock Exchange saw the fifth consecutive week on positive note on the back of local investors and institutional support. 1 Business Recorder
6. Futures spread down by 390bps The futures spread declined by 390bps to 4.17 percent on the last day of the outgoing week. 1 Business Recorder
7. Weekly Cotton Review Prices witness significant decline
The prices of cotton in local market witnessed a significant decline of Rs 200 to Rs 250 per maund as downward trend in the prices of cotton was seen in international markets.
5 Business Recorder
8. Emirati businessman commits Rs10m for stranded Pakistanis repatriation Ministry of Overseas Pakistanis and Human Resource Development (OP&HRD) Sunday said Suhail Galadari, Co-Chairman of Galadari Brothers, had committed Rs 10 million for repatriation of stranded Pakistanis from the United Arab Emirates (UAE). 11 Business Recorder
9. Heritage Tourism KP govt to launch ‘Gandhara Strip’ after Eid-ul-Azha
Tourists from across the globe will soon experience the historical heritage of one of the world’s oldest civilization in one-go as Khyber Pakhtunkhwa government has decided to launch ‘Gandhara Strip’ in the province after Eid-ul-Azha.
12 Business Recorder
10. PD gets nod for ‘Balochistan Mineral Exploration Co Ltd’ The Petroleum Division (PD) has got approval from the Economic Coordination Committee (ECC) of the Cabinet for setting up a new public sector company aimed at accelerating minerals’ exploration activities in the Balochistan province, which possesses a variety of valuable mineral resources. 12 Business Recorder
11. The duel between centre and provinces THE relationship between the > centre and the provinces is once again in the limelight as the PTl government takes a slow start on its engagement with the federating units. 1 Dawn Business & Finance
12. The week The National Electric Power Regulatory Authority concludes eight months of fule price adjustment for distribution companies of Water and Power Development Authority 1 Dawn Business & Finance
13. CPEC 2.0: full speed ahead A HOST of geopolitical devel> opments may breathe new life into the China-Pakistan Economic Corridor (CPEC) that was perceived to be running out of steam since the PTl government assumed power in 2018. 1 Dawn Business & Finance
14. Needed: renewed focus on SMEs THE State Bank of Pakistan (SBP) is pushing banks to their limits to lend more to small and medium enterprises (SMEs). But the outcome depends on the government and the private sector as well as compliance by banks. 2 Dawn Business & Finance
15. Reluctance to provide new loans THE number of requests for financing received by the commercial banks under the State Bank of Pakistan`s (SBP) refinance scheme for setting up new industrial projects or for undertaking expansion/ Balancing, Modernisation and Replacement (BMR) at the existing facilities shows significant demand from the industry for longer-term, cheaper loans in spite of the tough business conditions. At the same, the published SBP data indicates, the banks are reluctant or at least very slow to approve the loans because of the `risks`. 3 Dawn Business & Finance
16. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   168.20 215.00 193.00 24.00 45. 00
7 Business Recorder

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