Important Business News 2nd October, 2020

S.# Description Pg # Source
1. Challenges facing manufacturing sector unveiled Manufactu-rers from various sectors including pharma, cement, textile, chemicals, home appliances, and textile met Prime Minister Imran Khan on Thursday. 1     Business Recorder
2. 19 entities for sell-off Four to five transactions to be completed by June 2021: Soomro
Federal Minister for Privatisation, Mohammedmian Soomro Thursday said the Privatisation Division would complete the transactions of 4 to 5 entities by June 2021 out of 19 transactions which are under maturity.
1   Business Recorder
3. Major loss-making SOEs AGP forms four-member team to conduct forensic audit
The Auditor General of Pakistan (AGP) has formed a four-member team to conduct forensic audit of major loss-making state-owned entities (SOEs) following the Finance Ministry’s letter in compliance to Prime Minister Imran Khan’s directive.
1 Business Recorder
4. PM sidelines special assistant on power Prime Minister Imran Khan has sidelined Syed Shahzad Qasim as Special Assistant to Prime Minister on Power with immediate effect for seemingly intruding in the administrative affairs of the Power Division, the sources said. 1 Business Recorder
5. Compliance with AML Act MoF notifies National Savings AML/CFT Supervisory Board
The Finance Ministry has notified National Savings AML and CFT Supervisory Board to ensure the country’s compliance with the AML Act.
1 Business Recorder
6. Power, transport sectors Ecnec approves eight projects worth Rs401bn
A meeting of the Executive Committee of the National Economic Council (Ecnec) has approved eight projects of power and transport sectors of over Rs401 billion, and “simplification of Planning Commission Processes/ Procedure to Improve Project Management (Guidelines) envisaging reforms from project identification of the project to release of funds and monitoring and evaluation.”
1 Business Recorder
7. Sindh govt to provide land NTDC to execute 220kV grid station of Dhabeji SEZ
Parliame-ntary Committee on China-Pakistan Economic Corridor (CPEC) unanimously agreed that the NTDC itself would execute the 220kV grid station of Special Economic Zone Dhabeji and the Sindh government would provide the land and right of way and other ancillary facilities to the NTDC for construction of this project.
1 Business Recorder
8. FBR sets up ‘PRAC’ to ensure validity of refunds In order to streamline the payment of refund claims and to initiate enforcement measures to minimise the risk of inadmissible refund claims, a system-based Post Refund Analysis Cell (PRAC) has been established at the FBR to ensure validity of refunds issued through “FASTER” and the “ERS” systems. 1 Business Recorder
9. Gas shortage just around the corner Alarm bells start ringing as winters approach. Only this time, the gas shortage is likely to be much grimmer than the previous couple of years because the time has come when provinces other than Punjab too will become gas deficient and face load-shedding. 2 Business Recorder
10. Linking Chabahar, Gwadar may bring regional prosperity: Iranian envoy Iranian Ambassador to Pakistan Seyed Mohammad Ali Hosseini said his country does not consider Chabahar and Gwadar ports as competitors to each other, and asserted that linking the two ports will bring regional prosperity and boost bilateral trade between the two countries. 2 Business Recorder
11. Business remains stable on cotton market Business remained stable on the local cotton market on Thursday. 8 Business Recorder
12. Rabi 2020-21 IRSA approves anticipated water availability criteria
 The advisory committee of the Indus River System Authority (IRSA) has approved the Rabi 2020-21 anticipated water availability criteria from Oct 1, 2020 to March 31, 2021.
17 Business Recorder
13. BISP, energy sector reforms & western corridor Govt flags need of USAID economic grant
The federal government on Thursday flagged the need of the USAID economic grant for the Benazir Income Support Programme (BISP), the energy sector reforms, and western corridor to strengthen the portfolio.
18 Business Recorder
14. Govt meets revenue target through PL adjustment The government met its projected revenue collection from fuel by adjusting the petroleum levy (PL) on different products for Oct and did not accept Oil and Gas Regulatory Authority (OGRA) recommendation to raise the price of imported motor spirit (MS) and reduced the price of kerosene oil (SKO) and light diesel oil (LDO) in the fortnightly review for Oct (1-15). 18 Business Recorder
15. Issuance of more licences SC asks Pemra to file comprehensive reply
The Supreme Court on Thursday directed Pakistan Electronic Media Regulatory Authority (Pemra) to file a comprehensive reply regarding issuance of more TV channel licences.
18 Business Recorder
16. PIA allowed to operate 88 flights to Saudi Arabia The Pakistan International Airlines (PIA) has been granted permission to operate 88 special flights to Saudi Arabia during October to facilitate thousands of Pakistanis stranded here due to suspension of international flight operations.   4 Dawn
17. Transparent banking key to curb consumer exploitation: Alvi President Dr Arif Alvi on Thursday said procedural transparency in the banking sector was important to keep a control on financial exploitation of consumers.   9 Dawn
18. 330MW Thar coal project achieves financial close The Private Power and Infrastructure Board (PPIB) has signed a financial closing document for the 330MW mouth lignite coal power project at Thar Block-II. 9 Dawn
19. Rupee recovers 70-paisa against dollar The US dollar lost 70 paisa on Thursday and was traded at three-and-half month low against the rupee.   9 Dawn
20. FBR to monitor sugar production in real time The Federal Board of Revenue (FBR) on Thursday signed a memorandum of understanding (MoU) with the Pakistan Sugar Mills Association (PSMA) for electronic monitoring of sugar production. 9 Dawn
21. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   166.50 214.19 194.45 24.51 44. 10
9 Business Recorder

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