IMPORTANT BUSINESS NEWS / CURRENT AFFAIRS SUNDAY 13th NOVEMBER, 2022

S.# Description Pg. # Source
1. Dar in talks with Dubai banks Minister for Finance and Revenue Senator Mohammad Ishaq Dar held meetings in Dubai with management of the leading commercial banks, which deal commercially with Pakistan and Ministry of Finance. https://epaper.brecorder.com/2022/11/13/1-page/947301-news.html 1 Business Recorder
2. BOA meeting tomorrow BoI to discuss development, provision of utilities in SEZs
The Board of Investment (BoI) has notified its Board of Approval (BOA) meeting scheduled for Monday to discuss development and provision of utilities in Special Economic Zones (SEZs). https://epaper.brecorder.com/2022/11/13/1-page/947293-news.html
1 Business Recorder
3. KNIP likely to be restructured for the third time The Karachi Neighbourhood Improvement Project (KNIP) worth $86 million is proposed to be restructured for the third time with extending the deadline to June 2023, revealed the World Bank official documents. https://epaper.brecorder.com/2022/11/13/1-page/947294-news.html 1 Business Recorder
4. Ministry launches Rs40bn project for 20 poorest districts The Ministry of Planning, Development and Special Initiatives has launched a five-year (2022-27) project at an estimated cost of Rs 40 billion comprising special development initiatives for 20 poorest districts across Pakistan. https://epaper.brecorder.com/2022/11/13/1-page/947295-news.html 1 Business Recorder
5. Non-filers to pay increased rates of WHT The Federal Board of Revenue (FBR) has decided to strictly monitor budgetary measures introduced under the Finance Act 2022 to increase the cost of non-filers and raise additional revenue in the second quarter (October-December) 2022-23. https://epaper.brecorder.com/2022/11/13/1-page/947296-news.html 1 Business Recorder
6. ‘Riba-free’ banking SBP withdraws appeal against FSC verdict
The State Bank of Pakistan (SBP) on Saturday filed an application before the Supreme Court to withdraw its Civil Shariat Appeal against the Federal Shariat Court (FSC)’s verdict directing the government for a complete transformation of the banking system into Shariah-compliant banking by December 2027. https://epaper.brecorder.com/2022/11/13/1-page/947298-news.html
1 Business Recorder
7. SECP revises fee structure for corporate sector The Securities and Exchange Commission of Pakistan (SECP) has issued revised fee structure for the submission of documents by the corporate sector under the Seventh Schedule of the Companies Act 2017. https://epaper.brecorder.com/2022/11/13/1-page/947297-news.html 1 Business Recorder
8. Prices of essential kitchen items show upward trend The prices of essential kitchen items have continued witnessing an upward trend as during this week past prices of most of the essential kitchen items registered an increase against the previous week, revealed a survey carried out by Business Recorder, here on Saturday. https://www.brecorder.com/news/40208494/prices-of-essential-kitchen-items-show-upward-trend 3 Business Recorder
9. Visits ICCI offices: Azerbaijan envoy for three-nation bloc also featuring Pakistan, Turkiye KhazarFarhadov, Ambassador of Azerbaijan has said that Pakistan, Azerbaijan and Turkey have good potential to develop an economic bloc to achieve better outcomes for their respective economies. https://www.brecorder.com/news/40208498/visits-icci-offices-azerbaijan-envoy-for-three-nation-bloc-also-featuring-pakistan-turkiye 3 Business Recorder
10. Alvi calls for promoting tax culture to strengthen economy Emphasizing the need for promotion of tax culture, President Dr ArifAlvi said on Saturday that tax collection is vital for running the government affairs and strengthening the country’s economy. https://epaper.brecorder.com/2022/11/13/5-page/947322-news.html 5 Business Recorder
11. Cotton spot rate goes up by Rs300 amid improved business The Spot Rate Committee of the Karachi Cotton Association (KCA) on Saturday increased the spot rate by Rs 300 per maund and closed it at Rs 17,000 per maund. https://epaper.brecorder.com/2022/11/13/7-page/947329-news.html 7 Business Recorder
12. Minimum tax exemption SC sets aside PHC orders
The Supreme Court set aside the orders of the Peshawar High Court (PHC) regarding exemption from the payment of minimum tax charged under section 80D of the repealed Income Tax Ordinance, 1979 by virtue of section 6 of the Protection of Economic Reform Act, 1992. https://epaper.brecorder.com/2022/11/13/8-page/947348-news.html
8 Business Recorder
13. Broadening tax base: Two directorates made functional: FBR The Federal Board of Revenue (FBR) Saturday announced that the Directorate General of Broadening of Tax Base and Directorate General of Digital Invoicing & Analysis have been made functional to expand the tax base. https://www.brecorder.com/news/40208507 8 Business Recorder
14. 500 exhibitors from 64 countries to participate in mega defence show in Karachi After a gap of four years instead of two due to Covid-19, the Defence Export Promotion Organisation (DEPO) will be holding the 11th edition of the International Defence Exhibition and Seminar (IDEAS) 2022 from November 15 to 18 at Karachi Expo Centre. https://www.dawn.com/news/1720545 2 Dawn
15. Healthcare business to raise Rs409m via right issue MetaTech Health Ltd is going to raise Rs408.8 million by offering perpetual and convertible Islamic bonds or sukuk to existing shareholders by way of a right issue. https://epaper.dawn.com/DetailImage.php?StoryImage=13_11_2022_009_003 9 Dawn
16. Another bullish week on PSX Share prices went up at the beginning of the outgoing week as the country expected to get financing from China ($9 billion) and Saudi Arabia ($4bn). https://epaper.dawn.com/DetailImage.php?StoryImage=13_11_2022_009_004 9 Dawn
17. Talks between IMF, Pakistan `rescheduled` The schedule for talks between Pakistan and the International Monetary Fund (IMF) has been readjusted but the negotiations are continuing, official sources in Washington say. https://epaper.dawn.com/DetailImage.php?StoryImage=13_11_2022_012_006 12 Dawn

Leave a Reply