IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS MONDAY 14th NOVEMBER, 2022

S.# Description Pg. # Source
1. Revenue shortfall may ‘force’ FBR to tax banking profits as well The Federal Board of Revenue (FBR) may propose new taxation measures including the possibility of taxing banking profits in case it is unable to achieve the assigned revenue collection target of Rs536.53 billion in November 2022. https://epaper.brecorder.com/2022/11/14/1-page/947363-news.html 1 Business Recorder
2. PD seeks Rs118.75bn supplementary grant Petroleum Division has sought Rs 118.75 billion supplementary grant as subsidy and balance available under the head of subsidy to domestic consumers through SNGPL for RLNG supply, and inclusion of LNG diversion cost in the annual determination of Estimated Revenue Requirement (ERR), as well as, in the Review of Estimated Revenue Requirement (RERR) of the gas companies, sources close to Secretary Petroleum told Business Recorder. https://epaper.brecorder.com/2022/11/14/1-page/947357-news.html 1 Business Recorder
3. 300MW Gwadar plant CPPCL unwilling to shift to Thar coal
Chinese company, M/s CHIC Pak Power Company (Pvt.) Limited (CPPCL) is reportedly unwilling to shift proposed 300-MW power plant at Gwadar from imported coal to Thar coal, sources close to Managing Director PPIB told Business Recorder. https://epaper.brecorder.com/2022/11/14/1-page/947358-news.html
1 Business Recorder
4. PSX witnesses bullish trend Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended on November 11, 2022 due to aggressive buying mainly in banking and oil & gas exploration sectors. https://epaper.brecorder.com/2022/11/14/1-page/947359-news.html 1 Business Recorder
5. Futures spread up 349bps The futures spread increased by 349bps to 17.54 on the last day of the outgoing week. https://epaper.brecorder.com/2022/11/14/1-page/947360-news.html 1 Business Recorder
6. Market flooded with smuggled cigarettes, reveals survey Pakistani markets are once again flooded with smuggled and non-duty paid cigarettes with no tax stamps, causing billions of rupees loss to the national exchequer. https://epaper.brecorder.com/2022/11/14/2-page/947370-news.html 2 Business Recorder
7. Business community hails gas rationing for domestic consumers The business community, while hailing decision of natural gas rationing for domestic consumers, urged the government to make this wisdom based verdict a permanent feature throughout the year.  https://epaper.brecorder.com/2022/11/14/3-page/947377-news.html 3 Business Recorder
8. Envoy in US exhorts Pakistani-Americans to invest in Pakistan  “Paki-stani American Tech entrepreneurs can act as a catalyst to accelerate growth and investment in Pakistan’s IT and start up sectors” Ambassador Masood Khan highlighted this at the Organization of Pakistani Entrepreneurs (OPEN) Annual Forum at Silicon Valley on November 12, 2022. https://epaper.brecorder.com/2022/11/14/3-page/947379-news.html 3 Business Recorder
9. Weekly Cotton Review Spot rate remains stable amid low business volume
Prices of cotton overall remained stable in local and international markets. https://epaper.brecorder.com/2022/11/14/5-page/947392-news.html
5 Business Recorder
10. Discussion on China’s fintech model held on IBA’s main campus China Study Centre COMSATS Islamabad and China Study Centre Institute of Business Administration (IBA) Karachi University Campus, in collaboration with Islamabad Policy Research Institute (IPRI) organized a discussion on “Understanding Fintech Model of China – Evolving Role of Financial Technologies in e-Commerce Industry of Pakistan”, here at IBA Main Campus, University of Karachi. https://epaper.brecorder.com/2022/11/14/5-page/947397-news.html 5 Business Recorder
11. Govt initiates study for long-term development plan Undeterred by the failures of development plans in the past, the government is working on `Vision 2035` and `Vision 2047` agenda, with the Planning Commission having initiated a study aimed at drawing a roadmap for the country`s rapid socioeconomic development. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_012_003 12 Dawn
12. Commercial consumers resisting RLNG to face action The Sui Northern Gas Pipelines Limited (SNGPL) has warned the commercial consumers of action (gas supply disconnection) if they continue to ignore the instructions to switch on to the Regasified Liquefied Natural Gas (RLNG). https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_176_007 13 Dawn
13. The Week Petroleum Division tells a parliamentary panel that there would be no gas supply (to household consumers) for 16 hours a day in the coming winter. https://epaper.dawn.com/Advt.php?StoryImage=14_11_2022_601_003 1 Dawn Business & Finance
14. Agriculture`s declining contribution to smog AT times, technological advancements and market forces prove more effective than government policies and punitive measures in changing unlawful practices. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_601_005 1 Dawn Business & Finance
15. Filling the missing space “PAKISTAN has had an epidemic of savings”, saysKhaldoon Bin Latif, CEO of Faysal Asset Management Limited, a subsidiary of Faysal Bank Limited (FBL) that holds 99.99 per cent of its shares. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_601_004 1 Dawn Business & Finance
16. Debt is costlier than we think WOULD you believe that out of every 100 rupees the federal government spends each year, Rs52 goes on debt servicing? Sadly, this is true. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_601_006 1 Dawn Business & Finance
17. The transformational power of mobile broadband BELONGING to a family where women generally do not pursue a career, Tahira Parvez Mirza didn`t imagine she would be an entrepreneur one day. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_602_001 2 Dawn Business & Finance
18. Economic reforms: if not now, then when? THE incumbent government claims it saved Pakistan from imminent bankruptcy and successfully resumed the International Monetary Fund programme. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_602_004 2 Dawn Business & Finance
19. Nebulous hopes for the future WITH political unrest, the economic activity in Pakistan is weakening further. Depressingly bleak outlook of the global economy compound worries of the country`s business class that desperately wishes for economic recovery and for the political chaos to end but not militarily. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_603_001 3 Dawn Business & Finance
20. Quest for a stable currency THE central banks of Pakistan and China have renewed their commitment to expanding their bilateral trade and investment in the Chinese yuan. For that purpose, they signed a memorandum of understanding on establishing yuan clearing arrangements during a recent visit of Prime Minister Shehbaz Sharif to China. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_603_003 3 Dawn Business & Finance
21. Male privilege of seats and seat belts Women are 47pc more likely to be severely injured in a car crash because of different bone structures and muscular strength than men, according to the World Economic Forum. https://epaper.dawn.com/Advt.php?StoryImage=14_11_2022_604_003 4 Dawn Business & Finance
22. Data points The next supply disruption The pandemic has ushered in an era of supply chain disruption and unpredictability that has severely challenged many companies` planning and processes, and revealed how far prevailing practices are from the ideal. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_604_005 4 Dawn Business & Finance
23. Lower freight costs $2,412 It now costs $2, 412 to send a 40-foot container from Shanghai to Los Angeles, down from a peak of $ 12, 424 in September last year, according to data from Drewry Shipping Consultants. https://epaper.dawn.com/Advt.php?StoryImage=14_11_2022_604_001 4 Dawn Business & Finance
24. Struggling ML-1 PAKISTAN and China are planning to arrange bidding for $10 billion Mainline-1 the 1,872km Railway Track along with associated facilities from Karachi to Peshawar next month (December) and have agreed to have its foreign exchange component of $8.4bn fully financed through Renminbi (RMB) based Chinese loan. https://epaper.dawn.com/DetailImage.php?StoryImage=14_11_2022_604_006 4 Dawn Business & Finance
  Editorial News    
25. Co-financing by AIIB Federal Finance Minister Ishaq Dar tweeted approval of co-financing to the tune of 500 million dollars by the Asian Infrastructure Investment Bank (AIIB) – funds that he stated would be received by the State Bank of Pakistan this month. https://epaper.brecorder.com/2022/11/14/6-page/947398-news.html 6 Business Recorder
26. Environmental sustainability under EU’s GSP+ – I Pakistan’s export performance data and progress by the World Bank indicates that the country’s exports have reached around $35 billion, showing a 24% increase compared to that of 2020 (Macrotrends 2022). https://epaper.brecorder.com/2022/11/14/6-page/947401-news.html 6 Business Recorder

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