IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SATURDAY 12th NOVEMBER, 2022

S.# Description Pg. # Source
1. Jul-Oct remittances down 9pc YoY Inflows of home remittances fell by 9 percent during the first four months of this fiscal year (FY23) as compared to the same period last year (FY22), the State Bank of Pakistan reported on Friday. https://epaper.brecorder.com/2022/11/12/1-page/947232-news.html 1 Business Recorder
2.  SPI inflation up 0.74pc WoW The Sensitive Price Indicator (SPI) based inflation for the week ended November 10, recorded an increase of 0.74 percent due to an increase in prices of food items including onions (27.16per cent), potatoes (5.31per cent), tea Lipton (4.62per cent), bananas (4.38per cent), sugar (3.60per cent), eggs (2.13per cent), chicken (1.98per cent) and non-food long cloth 57” (1.21per cent) and firewood (1.21per cent), says the Pakistan Bureau of Statistics (PBS). https://epaper.brecorder.com/2022/11/12/1-page/947243-news.html 1 Business Recorder
3. Pakistan at COP27 demands climate aid Pakistan will not be satisfied unless UN climate summit negotiators unlock emergency cash for the country to rebuild after this year’s devastating floods, its climate minister said Thursday. https://epaper.brecorder.com/2022/11/12/1-page/947244-news.html 1 Business Recorder
4. There’s ‘sufficient’ power generation, NA told The government informed the National Assembly on Friday that power generation capacity is sufficient – as electricity production of the NTDC system stands at 11,580 MW – to meet the system load demand. https://epaper.brecorder.com/2022/11/12/1-page/947238-news.html 1 Business Recorder
5. Nepra approves paisa 51/kWh raise in KE’s tariff National Electric Power Regulatory Authority (NEPRA) has approved an increase of Paisa 51/kWh in KE’s tariff under Quarterly Tariff Adjustment (QTA) mechanism and negative adjustment of Rs5.1261/kWh in FCA for September 2022. https://epaper.brecorder.com/2022/11/12/1-page/947239-news.html 1 Business Recorder
6. PKR declines 0.1pc Pakistan’s rupee ended its three-session appreciation run against the US dollar, and declined 0.1% in the inter-bank market on Friday. https://epaper.brecorder.com/2022/11/12/1-page/947235-news.html 1 Business Recorder
7. PSX: bulls rule the roost Pakistan Stock Exchange on Friday witnessed another bullish session on the back of fresh buying, mainly in oil & gas and communications sectors. https://epaper.brecorder.com/2022/11/12/1-page/947241-news.html 1 Business Recorder
8. Ogra reduces prices of imported LNG The Oil and Gas Regulatory Authority (Ogra) on Friday notified 2.34 percent reduction in the prices of imported LNG for the consumers of the Sui Northern Gas Pipeline Limited (SNGPL) and 2.48 percent for the consumers of the Sui Southern Gas Company (SSGC) for the month of November. https://epaper.brecorder.com/2022/11/12/2-page/947247-news.html 2 Business Recorder
9. Violation of Section 10 CCP issues show-cause notice to online education institute An enquiry conducted by the Competition Commission of Pakistan (CCP) has found that an online educational institute is distributing false and misleading information to the general public, particularly to potential teachers. https://epaper.brecorder.com/2022/11/12/5-page/947261-news.html 5 Business Recorder
10. Setting up of NICAT: contract awarded to NETSOL Technologies Ignite signed a contract for launching its first vertical incubator in Aerospace Technologies in collaboration with Aviation City Pakistan (Pvt) Ltd. https://epaper.brecorder.com/2022/11/12/5-page/947264-news.html 5 Business Recorder
11. Smeda launches e-learning curriculum for SMEs The Small & Medium Enterprises Development Authority (SMEDA) and the Revenue Mobilization, Investment and Trade (ReMIT) Project of UN-ITC (United Nation’s International Trade Centre) launched an e-learning curriculum on Friday for Pakistan’s SMEs. https://epaper.brecorder.com/2022/11/12/5-page/947265-news.html 5 Business Recorder
12. SECP registers 2,361 new companies in October The integration of the Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) resulted in the corporate registration of 1,969 companies with the FBR. https://epaper.brecorder.com/2022/11/12/5-page/947267-news.html 5 Business Recorder
13. Consignments, LCs SBP governor assures FBR chief issues will be resolved State Bank of Pakistan (SBP) Governor Jameel Ahmad called on Asim Ahmad, Chairman FBR at FBR HQ to exchange views on various issues. https://epaper.brecorder.com/2022/11/12/5-page/947266-news.html 5 Business Recorder
14. Modest business on cotton market The local cotton market on Friday remained steady and the trading volume remained satisfactory. https://epaper.brecorder.com/2022/11/12/5-page/947263-news.html 5 Business Recorder
15. FBR urges LCCI members to submit tax returns on time The Federal Board of Revenue has urged the Lahore Chamber of Commerce and Industry (LCCI) to ask its members to submit their tax returns on time as filing of tax returns this year is far lower as compared to the previous year. https://www.brecorder.com/news/40208364/fbr-urges-lcci-members-to-submit-tax-returns-on-time 9 Business Recorder
16. October Punjab tax collection rises 33pc to 14.55bn YoY The Punjab government has surpassed its monthly target yet again collecting Rs14.548 billion during October, 2022, thus registering a growth of 33% over the Rs10.966 billion collected during the same month in 2021. https://www.brecorder.com/news/40208363 9 Business Recorder
17. Ogra grants licence to PGPL for sale of gas, RLNG The Oil and Gas Regulatory Authority (Ogra), on Friday, granted license to Pakistan GasPort Limited (PGPL) for the sale of natural gas and re-gasified liquefied natural gas (RLNG) to Pakistan. https://epaper.brecorder.com/2022/11/12/10-page/947281-news.html 10 Business Recorder
18. Blome tells APTMA leadership, members US wants to deepen trade relations with Pakistan Donald Blome, US Ambassador to Pakistan, said on Friday the US government was keen to foster bilateral trade relations with Pakistan. https://epaper.brecorder.com/2022/11/12/10-page/947288-news.html 10 Business Recorder
19. Draft amendments in Customs Rules, 2001 issued FBR imposes new terms on global carriage of goods by road The Federal Board of Revenue (FBR) has imposed new conditions on the international carriage of goods by roads including responsibilities of the sender and carrier of such goods from one country to another. https://epaper.brecorder.com/2022/11/12/10-page/947283-news.html 10 Business Recorder
20. Unauthorised foreign exchange activities SBP introduces ‘Whistle Blowing Forum’ The State Bank of Pakistan (SBP) on Friday introduced Whistle Blowing Forum for identification of unauthorized foreign exchange activities by public. https://epaper.brecorder.com/2022/11/12/10-page/947289-news.html 10 Business Recorder
21. Pharma exports reach $325m mark, says DRAP CEO Pakistan’s pharmaceutical industry exports have reached $325 million owing to enabling business environment and within the next few years exports will further grow as the authorities are taking additional steps in facilitating the sector. https://epaper.brecorder.com/2022/11/12/10-page/947291-news.html 10 Business Recorder
22. Customs officials` infighting leaves Pak-China trade in limbo The wrangling between high-ranking customs officials has been hampering operations at the Sost dry port the country`s main land trade post with China effectively halting goods transportation from China to Pakistan through the Khunjerab Pass. https://epaper.dawn.com/DetailImage.php?StoryImage=12_11_2022_003_009 3 Dawn
23. Car sales shrink to half in July-October Amid a month-on-month improvement in October, the overall car sales registered a drop of 47 per cent to 39,700 units in 4MFY23 from 74,952 units due to rising prices, curbs on auto financing and parts imports and high interest rates. https://epaper.dawn.com/DetailImage.php?StoryImage=12_11_2022_009_005 9 Dawn
24. Stuck-up consignments, new LCs discussed The Federal Board of Revenue (FBR) and the State Bank of Pakistan on Friday discussed ways for the release of stuck-up consignments and the opening of new letters of credit (L Cs). https://epaper.dawn.com/DetailImage.php?StoryImage=12_11_2022_009_007 9 Dawn
  International News    
25. Global food import bill to jump to record $1.9trn Global spending on food imports is expected to reach a record $1.94 trillion in 2022, the UN’s Food and Agriculture Organization warned Friday, a 10 percent jump compared to the previous year due to rising prices. https://epaper.brecorder.com/2022/11/12/1-page/947242-news.html 1 Business Recorder
  Editorial News    
26. Energy sector uplift If the government is indeed committed to “ensuring sustainability of energy sector” and “providing relief to the common man”, as Power Minister Khurram Dastgir assured a World Bank team the other day, then it must make sure some of the USD 3 billion funding extended by the Bank goes towards removing some deliberately created inefficiencies. https://epaper.brecorder.com/2022/11/12/4-page/947255-news.html 4 Business Recorder
27. Energy sector —hiding behind the truth Speaking on the occasion of signing of dollar 3 billion loan by Would Bank to develop energy infrastructure and to support energy efficiency and conservation programmes, federal minister for power Khurram Dastgir is reported to have stated: https://epaper.brecorder.com/2022/11/12/4-page/947257-news.html 4 Business Recorder
28. Currency exchange rates Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   227.75 268.70 235.30 35.00 63.00
5 Business Recorder

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