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Archives May2018
DATE MAY 31 2018

DAWN NEWS

Ogra proposes huge increase in petroleum prices

Economic Coordination Committee extends export package as parting gift

State Bank of Pakistan to issue Rs350bn fresh notes for Eid

Commodities: Short supply mars trading on cotton market

US refuses to place religious sanctions on Pakistan: report

At 46°C, Karachi endures hottest day of year

Sindh forms commission to allow citizens access to information

 THE NEWS

ECC approves Rs51 bn package to boost exports

 Petrol price may go up by Rs8.73/litre, diesel by Rs12.5/litre

 Ali Siddiqui takes charge as envoy to US

 At 46°C, city suffers hottest day in May since 1981

 ban on import of CNG cylinders, kits

 SBP re-launches SMS service for fresh currency issuance

 One million bank workers strike across India

 Every fifth person in Sindh dying of viral hepatitis: experts

BUSINESS RECORDER

Export package given three-year extension

POL prices may go 16.9 percent up

Power situation: the real story

Power theft

 DAILY JANG

Frankfurt Hiemtextile T.D.A.P will provide subsidy to interested participants

 Karachi temperature reached at 46 37 years old record equal dozen of citizens’ condition worsens

 State Bank announces policy of issuance of new notes

 Ministry of finance “AD” on 5 years economic progress in 70 years unique

 DAILY EXPRESS

 Summary sent to ministry to increase petrol Rs. 8.37 paisa announcement will be made today

 Officers of water board made telephone tanker service failed

 New notes will be issued via S.M.S from tomorrow

 Circular debt of electricity be settled Islamabad chamber


DATE MAY 30 2018

DAWN NEWS

PM Abbasi wants provinces to take over electricity, gas distribution

Government tells SC it may have to raise oil prices in June

Power generation hits all-time peak, T&D constraints weigh

Business treading water, borrowing data shows

US imposing 25pc tariffs on $50bn worth of Chinese goods

PHMA urges govt to clear tax refunds

Prices rise on cotton market

 Every fifth person in Sindh dies of viral hepatitis

Workers also demand three months’ additional salary as announced for federal govt employees

 THE NEWS

Power theft by the mighty ‘financial terrorism’: Senate body

 Dubai to have tallest tower

  ‘Over three million children suffer from eye disorders annually

 Labour leaders demand fixing minimum wage at Rs30,000

 Mercury starts rising again as new heatwave grips city

 Cotton cultivation hangs in balance as water crisis worsens

 FBR to hire foreign tax experts for auditing

 POL products output rises 12.31pc in nine months

 State Bank’s facility: Provincial governments overdraft soars to Rs85bln 

BUSINESS RECORDER

Provinces held responsible for power theft

 Massive investment required to upgrade power system: Pepco MD

 PHMA urges government to clear all ST refunds before May 31

 Seed cotton prices hit six-year high

 FPCCI urges government to set up cottage industry parks

 Dubai cancels corporate fines in fresh effort to boost business

 DAILY JANG

OGRA recommended to increase petroleum products up to Rs. 7.86

 New Diplomat of Pakistan for USA Mr. Ali Jahangir took Charge

 Pakistan decided to take step to exit Pakistan name from gray list

 Pakistan Single country Exhibition in Chilli, got thousand dollar export orders

 Production of petroleum product increased by 12.13 percent in current year.

 DAILY EXPRESS

Likely to increase petroleum products from 1st June

 Work Start of extension of Karachi Expo Centre from tomorrow 

Subsidy announced to participant of Heimtextile 2019 



DATE MAY 29 2018

DAWN NEWS

Revival of growth will be our biggest story: PM

Business community unhappy over hike in interest rate

Indian objects to Walmart-Flipkart deal

Union leaders discuss workers’ plight in Pakistan

THE NEWS

N-govt’s five-year performance: Inflation down from 7.75pc to 3.77pc, says PM

 Pak loan reliance on China increases manifold

 Economic reforms: Part-XXIII

World Justice Project report: Singapore most, Pakistan least peaceful Asian states

FBR allows duty-exempted plants to be resold

 ‘China’s loans to Pakistan to lift debtrepayment ability’

Textile sector demands zero-rated import of hydrogen peroxide

FPCCI criticises interest rate hike

FBR asked to extend tax amnesty

Three-day heatwave likely to begin in city today

BUSINESS RECORDER

PM draws parallels, makes claims Economy much better placed today

MPS: When the good is not good enough

Is China replacing the IMF?

Industrial Support Package Rs3/unit subsidy to be extended for another 3 months

FBR clarifies

Acquisition of asset from NRPs ‘Section 101A’ inserted in IT Ord 2001

FPCCI chief voices against increase in policy rate

Finance Act 2018

Acute water shortage

Runaway budget deficit

Power Division shares data of 25 million consumers with Nadra

United Business Group “AD” Clarification To The Uncalled For Appeal’ To The Honorable Chief Justice Of Pakistan 

  DAILY JANG

During 5 years tenure inflation reduced Industrial & agriculture improved remittances increased Prime Minister Abbasi

Pak-China Business implementation on electronic data inter change begins benefit worth billion of rupees 

DAILY EXPRESS

F.P.C.C.I objects on enhanced interest rate

Textile processors expressed concern on shortage of  Hydrogen Peroxide Propaganda against business group is baseless

 



DATE MAY 28 2018

DAWN NEWS

Number of non-Muslim voters in Pakistan shows rise of over 30pc

Legal lacunae’ stymies Stamp Act amendments

Fresh heatwave may hit city tomorrow

Bidding farewell to the PML-N

Business sentiment buoyant in a democracy

A well-timed policy rate hike

What new forex regulations mean

Ministry of Finance “Ad” On Prime Minister’s Economic Reforms Package Tax Relief For Business & Salaried Individuals

Govt Of Sindh “Ad” On Motor Vehicle Registration Smart Card

Sindh Revenue Board“Ad” Sind revenue Board Announces Major Relief  

THE NEWS

Mid-August to see new prime minister

Policy rate

BUSINESS RECORDER

Unsustainable  power sector: banks refuse to extend further loans

MPS: Recognition of the true picture

Amnesty Scheme: FBR reluctant to provide data to FTO

  DAILY JANG

Pakistan rupee likely to be devalued more dollar at Rs 140 and U.A.E Dirham will go up to Rs. 38.19

Give respect to exports

DAILY EXPRESS

5 Years of N league loan 31 billion dollar high trade deficit of 105 billion dollar rupee depreciated by 20%

Gas crisis due to new connection in Karachi Hyderabad

 


DATE MAY 26 2018

DAWN NEWS

 Private sector must go for value addition

Interest rate hiked to 6.5pc, risks mounting

T.D.A.P “AD” HEIMTEXTILE FRANKFURT –GERMANY JANUARY 08-11-2019 LAST DATE TO APPLY: JUNE 12, 2018

THE NEWS

A friendly country and SC to help Pakistan avoid IMF

 Interest rate jumps up

 Federal cabinet approves economic zone in Gwadar

 Federal cabinet gives green signal to special economic zone in Gwadar

 FBR slaps up to 25pc duty on exports, 10pc on imports

 India’s cotton exports could hit 4-year high on price rally

Private sector should improve products competitiveness
BUSINESS RECORDER

Currency depreciation poses risks to credit: Moody””s

 SBP extends EFS limits

Policy rate increased by 50 bps to 6.5 percent: SBP sees growing external account pressures ahead

Continuation of ongoing package: textile Ministry may submit revised summary to ECC

CPEC, FDI matters: Commercial courts to be set up: CJP

SSGC-KE dispute persists

FBR admits Rs 200 billion tax refunds pending

  DAILY JANG

Price of P.O.L products likely to increase

Interest rate becomes 6.5% current account deficit increased inflation likely to enhance state bank

Implementation on new finance act customs department issued 22 new S.R.O.S Zahid Khokar

DAILY EXPRESS

State Bank raised interest rate from 6% to 6.5%

Free trade agreements being revisited in the interest of country Pervaiz Malik

Country’s economy will not improve till political stability Iftikhar Malik

Rulers converted the country into trade economy Zafar Mehmood

 


DATE MAY 25 2018

DAWN NEWS

Around 46m young voters set to play key role in polls

 ‘Men oppose CNICs for their wives, daughters

Water shortages

Power companies ordered to refund Rs6.5bn for April

Reserves fall, dollar edges up

Rupee-yuan swap amount increased

THE NEWS

 Pakistanis eighth highest number of non- British nationals living in UK

 Nepra asks Discos to refund 62 paisa/unit to consumers

 IMF holds consultation on economic challenges to Pakistan

 Govt expects SBP to shun soft monetary policy stance to subdue demand

 China extends 20bln yuan currency swap deal with Pakistan

 Govt mulls framework to allow bilateral trading of electricity

BUSINESS RECORDER

Government takes step towards curbing imports

 Gulzar Firoz made TDAP’s board member

 Stability in credit Rating

 Currency swap arrangement with China extended for three years

 50 paisa surcharge being levied: power consumers to pay price for Rs 50 billion loan

  DAILY JANG

Forex reserves reduced by 21 crore 94 lac dollar

  89% population of Pakistan is deprived of internet facility  

DAILY EXPRESS

Court orders ineffective Govt gave legal cover to regulatory duty

Debt payment forex reserves reduced by 48 crore dollar

State Bank  will announce today monetary policy for 2 months

Car manufacturers stop sale of cars to non-filers 



DATE MAY 24 2018

DAWN NEWS

SBP refuses forex dealers demand

Miftah sees $2bn inflow before govt term ends

Sindh’s lone environmental tribunal nonfunctional for two months

THE NEWS

APBUMA for implementation on Rs24 bn package

 PHC directs SNGPL to ensure sufficient gas supply to KP industries

 Karachi heatwave

 Yet another heatwave to hit city in a week

 Fiscal policies impede growth of domestic industry’

 In Pakistan, half-baked policies fail to feed the starving economy’

 Banking channel with Russia urged

 Budget changes to hit real estate

BUSINESS RECORDER

Gas infrastructure amendment bill sails through NA

Pakistan’s growing indebtedness

Searching for truth: from despair to hope

Foreign currency accounts: Post-2018 scenario

Customs duties/tariff changes: Changes made on imports become applicable from May 23

  DAILY JANG

Formation of banking Chanel is a must for increasing volume of Pak-Russia trade

 Import of machinery reduced by 3.4%

 F.B.R’s 14 additional commissioners assumed charge in important tax offices

DAILY EXPRESS

 Leather garments & steel products including 7000 imported items become expensive

Electricity distribution companies failed in reducing losses of distribution and transmission

 Import sector disappointed on not restoring final tax regime

 Monetary policy will be announced tomorrow

 Textile commissioners’ organization budget increased by Rs. 2.50 crore

 


DATE MAY 23
 2018

DAWN NEWS

Ongoing heatwave

OICCI survey finds significant drop in business confidence

CNIC must for buying, selling above $500: SBP

Monetary policy on 25th

THE NEWS

A flawed fiscal policy

The tax net

 An egg a day may keep the doctor away!

 Economy in take-off position third time in history: Ahsan

 Pak delegation off to Bangkok to attend FATF meeting

 SHC issues notices to Nepra, KE for not complying with orders

 Traders plan 20,000 tons of cotton import from Afghanistan

 Monetary policy announcement on Friday

 Pakistan’s overall business morale posts a sharp fall: survey

 SBP to issue fresh currency notes for Eid from June 1

BUSINESS RECORDER

Cabinet approves ”Digital Pakistan Policy”

 Global trade

 Monetary Policy to be announced on May 25

 A case of twin deficit

 Export’s declining trend

   DAILY JANG

Tax collection will reach in 5years to Rs. 13900 billion Haroon Akhter

 F.B.R set record of collecting R. 3200 billion during 325 days

 Confidence of business community in Pakistan remains 14% positive after decline of 7%

DAILY EXPRESS

 F.P.C.C.I high power delegation reached Russia

Record foreign loans at 91 billion 76 crore dollars

 


DATE MAY 22 2018

DAWN NEWS

Karachi law and order

Moody’s reaffirms Pakistan’s rating, but vulnerabilities remain

Pakistan's textile exports jump 8pc

Sindh to collect tax on agricultural income

THE NEWS

FBR identifies 50,000 tax evaders in real estate

 Abbasi’s ‘No’ to Shah’s panel for caretaker PM

 Economic reforms: Part-XXII

 Budget deficit shoots up to Rs1,480.9 billion

 Only air left for Sindh govt to tax, says opposition leader

 Textile exports increase 12.1pc to $1.148 billion in April

 WHT collection from banking transactions falls to Rs9.34 billion in July-April

 Joint ventures among SAARC nations urged to alleviate poverty

 Trilateral trade accord to boost global textile market share

 Sindh cabinet decides to impose farm tax instead of Abiana

BUSINESS RECORDER

Rs 28 billion five-year export package worked out

FPCCI identifies problems being faced by textile sector

 Exports hurt by lack of value addition

 Textile export grows 12.07 percent in April

 Expert says foreign exchange regime undergoes fundamental change

  DAILY JANG

Electric tariff likely to be reduced by 0.44 paisa per unit

 Large scale industrial sector performance likely to increased by 6.7%

 Trade deficit beyond target

DAILY EXPRESS

 

 

 




DATE MAY 21 2018

DAWN NEWS

Centre’s help sought for registration of Chinese nationals in Sindh

Exchange rate stability in open market

THE NEWS

UAE announces major changes in visa policy

 Trade victory

Sindh to observe Occupational Safety and Health Day on Sept 11 every year’

 Fear of ‘marked’ slowdown in emerging market export growth

 Inability to diversify

BUSINESS RECORDER

Daunting task before the caretakers

 UAE to allow 100 percent foreign ownership of businesses by year-end

  DAILY JANG

Major changes in Visa policy of U.A.E 10 year’s residency Visa will be given

Decision to implement with in next 72 hours announcement made in federal budget for revenue

 Secret of success of wall mart

DAILY EXPRESS

 


DATE MAY 19
 2018

DAWN NEWS

SC summons 222 beneficiaries of loan writeoff scheme

Govt racing to meet FATF demands before June

National Assembly passes Rs5.25 trillion budget

Foreign investment

Workers’ safety

T.D.A.P “Ad” On China Int’l Small & Medium Enterprises Fair (CISMEF) Guangzhou-China October 10-13,2018 Last Date to apply: June 04, 2018

Big industry output expands meagre 1.8pc

Founder of Dubai-based Abraaj faces investor revolt

Current account gap widens to $14bn

Met dept issues advisory in view of hot weather

THE NEWS

Getting Rs54 bn loans written off: SC issues notices to 222 individuals,

NA passes Budget 2018: Tax Amnesty, supplementary demands cleared

  ‘NBP on way to positive trajectory thanks to innovative policies’

 Pakistan expecting $2 billion from China

 Tax relief to cause Rs5 bn negative impact on economy, says FBR

 Ongoing heatwave expected to last six more days

 Current account deficit widens 50pc to $14.035bln in July-April

 LSM posts 5.89 percent growth in nine months

 Sindh Revenue Board unveils major tax relief

 Textile value-addition stressed to increase exports

 Poor planning, corruption destroy export potential

 IR offices to remain open on Saturdays

 Trade expansion with Sri Lanka urged

 Walmart online sales surge

BUSINESS RECORDER

 Differences between power minister, top bureaucrat deepen

 Government gets fiscal year 2019 budget passed by NA

 C/A deficit widens to $14 billion mark in 10 months

 PTEA for continuing DDT incentive for three years

 Economic challenges for next govt

 Concessional financing scheme for SMEs

 Finance Bill 2018: amendments to cause Rs 4-5 billion impact on revenue collection target

 Written off loans: SC issues notices to individuals, companies

 DAILY JANG

Finance bill 2018 due to relief to public govt’s will face negative impact likely in its income up to Rs. 5 billion

 Govt’s last 13 days 5 secretaries proceeded on leave

DAILY EXPRESS

Supreme Court issued notices to concerned bank heads and 222 companies C.E.O.S

 Large Inudsries out put increased by 6% during July-March,

 Governor Sindh stressed on value addition in textile sector

 S.R.B announced sales tax relief package

 Tax target collection F.B.R closed down holiday on Saturday

 Lahore Chamber delegations meet businessmen of Sri Lanka

 Govt should control fall of forex reserves Ibrahim Qureshi

 Agreement signed between chemical manufacturers and American chemistry council

 


DATE MAY 18
 2018

DAWN NEWS

Opposition in NA rejects govt’s tax amnesty scheme

Alternative tax avenues

Lack of value addition in exports highlighted

Reserves down $364m to $10.799b: SBP

WTO rules in favour of Pakistan, against EU

THE NEWS

FBR set to receive 50,000 cases of Pakistanis owning assets abroad

  ‘Ogra to protect rights of all stakeholders’

 Power shortage

 Government consumes $1bln loan in fortnight on debt repayments

  ‘Pakistan must begin relying on direct taxes’

 FPCCI stresses entering GVCs

BUSINESS RECORDER

Foreign currency accounts: End of an era

 Lack of value-addition: exports fail to find place in high market: PC

 Data of Pakistanis” assets, bank accounts: FBR places software for receiving information through OECD

 Global debt

 Punishing non-filers!

 Forex reserves down by $364 million to $10.799 billion

 DAILY JANG

Forex reserves reduced by 36 crore 40 lac dollars

 Price of P.O.L products in Asia likely to be reached at 80 dollars per barrel

DAILY EXPRESS

Payment of  export package worth Rs.24 billion hailed

Official forex reserves reduced by dollar 36 crore while commercial reserves exceeds 14 crore dollar

F.P.C.C.I rejects load sheeding for Industries

Late tax filers becomes useless filer not to be accepted

Industrialists protest on 10 hours load sheeding

Forex reserves down by $364 million to $10.799 billion

 


DATE MAY 17
 2018

DAWN NEWS

The worsening water crisis

Soda ash

Settling bills

Government aims to relaunch ferry service

‘Talk to industry on trade policy’

Ramazan banking hours

Sindh's opposition, treasury benches engage in heated debate over water shortages

Court irked by FIA’s failure to produce witnesses against Gilani in trade subsidy scam case

THE NEWS

Landmark judgment: WTO ‘Supreme Court’ rules in Pak favour

 Hypertension Day observed: Steps to avoid high blood pressure stressed

 Running out of water

 Data information exchange between Pakistan, China begins

 Political parties yet to share economic agendas

BUSINESS RECORDER

ECC to give final approval today: govt agrees to cut power price for textile sector

 Countervailing duties on PET imports: WTO body rules against EU

 Exports to increase 20 percent in two months: Miftah

 Foreign currency accounts: Finance Bill Amended

 Export growth: Pakistan joins club of top achievers: Dagha

 Textile exhibition held at UAF

 Another package for exports

 Governance, civil service and institutions

 State of economy

 Drowned in debt 

 DAILY JANG

WTO’S historical decision against European union and in favor of Pakistan  

DAILY EXPRESS

 Zakat deduction no transaction in banks today. Nisab fixed at Rs. 39198/-

 Tax net expanded decision to give access to F.B.R on Nadra data base

 Access of general public to financial sector enhanced. Traiq Bajwa   

 


DATE MAY 16
 2018

DAWN NEWS

Provincial budgets

Foreign investment drops in April

Parties urged to incorporate environmental

T.D.A.P “AD” ON PAKISTAN SINGLE COUNTRY EXHIBITION 12TH 14TH AUGUST, 2018 AT  

THE NEWS

UK top pick for Pakistani politicians’ laundered money

 Fertilisers, air travel become inexpensive

 Pakistan’s external debt swells to $91.761 bn till end March

 Electronic data exchange with China to go live soon

 FDI increases 2.4pc to $2.237 billion in 10 months

 LTU Karachi achieves Rs1 trillion collection mark

BUSINESS RECORDER

Rs24bn set aside for next export package: Miftah

 Senate passes GIDC bill

 $2.2bn FDI fetched in 10 months

 Employers’ economic vision

 Export promotion confusion

 Tax rate increase: Recommendation not made part of amendments to Finance Bill

 Offshore income and assets of Pakistanis and the Finance Bill 2018

 Vietnam, Pakistan to sign FTA soon: envoy

 FCCI proposes incubation centre for business starters

 Call to withdraw WHT on bank transactions

 Discrimination in gas, power tariff: APTMA urges CJP to take notice of pending cases

 DAILY JANG

U.K is the attractive center of corrupt politicians for money laundering Pakistani, Nigerian Russian included under new rules it becomes difficult for politicians to keep wealth

 42 Recommendations of senate included in budget fertilizer domestic travel becomes cheaper conveyance allowance of govt  employee increased     

DAILY EXPRESS

Order not to freeze bank accounts directly for collection of sales tax

 Decision to shut down electricity for industrial sector during Sheher and Iftar

 2.24 Billion dollar direct foreign investment during 10 months

 Employers Federation of Pakistan released economic vision 2030

 Late filer will not be selected automatically for audit

 Lahore chamber expressed concern on uncertainty in politics

 16 lac new electric connection will be given in next fiscal year

 Govt should not switch off electricity of Industries during Ramazan

  


DATE MAY 15
 2018

DAWN NEWS

Zakat to be deducted on Rs39,198

Settling bills

Punjab shies away from a budget

SECP notifies LLP regulations

THE NEWS

First of Ramazan likely on Thursday

 ‘Cotton demand to increase in 2018-19’

Economic reforms: Part-XXI

 ‘Pakistan’s economy goes from bad to worse as growth seen slowing’

Budget indecisiveness persists as assemblies prepare for dissolution

Business-friendly environment assured

Restoration of FTR demanded

KWSB told to computerise water supply system in two days

BUSINESS RECORDER

Why gas prices must be raised

 Nisab fixed at Rs 39,198

 FPCCI demands to restore FTR option to commercial importers

  ‘Patients of hypertension increasing rapidly’

 EFP launches ‘Economic Vision 2030’

 Yawning gaps in the budget 2018-19

 Wind-up debate: Miftah may announce cut in duty on 303 tariff lines

 DAILY JANG

DAILY EXPRESS

Fund released only for one development project of textile division

Gas companies will give 11.21 lac new gas connection for next fiscal year

 

DATE MAY 14
 2018

DAWN NEWS

WORKERS  SAFETY

THE NEWS

KARACHI S POWER PROBLEM

 PM WANTS EXPORTERS TO PUSH COUNTRY S EXPORT TO RS100 BLN

 BEIJING CONFERENCE DIGITAL TRADE IS TRADE OF FUTURE GREAT HOPE FOR DEVELOPING NATIONS SAYS PAK ENVOY


RS84 BN LOAN WRITE OFFS SC SENDS NOTICES TO 222 PEOPLE

BUSINESS RECORDER

SINDH BUDGET A ROUTINE AFFAIR

 EXPORTS’ AN INTERVIEW WITH DR MANZOOR AHMAD

 DAILY JANG

DAILY EXPRESS

Tax amnesty scheme bill will be passé today by assembly
 
Refund worth Rs.100 billion to be released during current year finance minister