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21/10/20

Pakistan unlikely to exit FATF grey list: Pakistan might remain in the Financial Action Task Force’s (FATF) grey list as it has been unable to comply with six of the 27 points in the global watchdog’s action plan but the country has managed to avert being blacklisted
Source: https://tribune.com.pk/story/2269208/pakistan-unlikely-to-exit-fatf-grey-list
 
Pakistanis with foreign assets can invest in NPCs: Resident Pakistanis having foreign assets — as declared in their latest wealth statement filed with the Federal Board of Revenue (FBR) — may invest in US dollar denominated Naya Pakistan Certificates (NPCs) by opening a Foreign Currency Value Account (FCVA), the State Bank notified on Tuesday
Source: https://www.dawn.com/news/1586191/pakistanis-with-foreign-assets-can-invest-in-npcs
 
Rs63bn construction projects enrolled under amnesty scheme: The Federal Board of Revenue (FBR) on Tuesday said that 127 projects worth Rs63 billion were registered with the tax department under Prime Minister’s Package for Construction Sector. In addition, a total of 108 persons are also in the process of registering 114 projects at a projected cost of Rs109bn under the amnesty scheme
Source: https://www.dawn.com/news/1586190/rs63bn-construction-projects-enrolled-under-amnesty-scheme
 
UfG of SNGPL and SSGC growing alarmingly: The Unaccounted-for Gas (UfG) of both gas utility companies - Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) is growing alarmingly, despite spending billions to arrest the losses, a parliamentary panel Tuesday observed with serious concern
Source: https://epaper.brecorder.com/2020/10/21/16-page/855546-news.html
 
Rs460bn to be paid by Bahria Town: SC forms commission to oversee utilisation of money: The Supreme Court constituted a high-powered commission to oversee the utilisation of Rs460 billion to be paid by Bahria Town (Pvt) Limited for its Karachi Super Highway Project land
Source: https://epaper.brecorder.com/2020/10/21/16-page/855545-news.html
 
Circular debt jumps 30pc to Rs2.15tr in FY20: The National Electric Power Regulatory Authority (Nepra) on Tuesday acknowledged that the circular debt has crossed Rs2 trillion mark with an increase of more than 30 per cent in the last fiscal year. In its ‘State of the Industry Report 2020’, the power regulator said that the circular debt has reached Rs2.15tr by June this year from Rs1.6tr in June 2019
Source: https://www.dawn.com/news/1586194/circular-debt-jumps-30pc-to-rs215tr-in-fy20
 
Roosevelt Hotel not being sold: PIA chairman: The Senate Standing Committee on Aviation was told on Tuesday that the PIA’s Roosevelt Hotel in New York was not being sold but would either be renovated or reconstructed in future
Source: https://tribune.com.pk/story/2269211/roosevelt-hotel-not-being-sold-pia-chairman
 
KE nears 3-year RLNG supply deal for 900MW plants: K-Electric Limited is nearing a three-year regasified liquefied natural gas (RLNG) supply deal with Pakistan LNG Limited (PLL) and Sui Southern Gas Company (SSGC) for 900 megawatts project under-construction at Port Qasim, its CEO said
Source: https://www.thenews.com.pk/print/732328-ke-nears-3-year-rlng-supply-deal-for-900mw-plants
 
ECC told: 2.829m tons of wheat being imported: The Economic Coordination Committee of the Cabinet has been informed that 2.829 million tons of wheat is being imported by the public and private sector to meet the shortage, and thereby, deal with the simmering challenge of staple food prices
Source: https://epaper.brecorder.com/2020/10/21/1-page/855440-news.html
 
Asian stocks set for modest gains as tech woes check stimulus hopes: Asian stocks were set for modest gains on Wednesday after renewed U.S. stimulus hopes helped Wall Street higher, although wobbles in the tech sector could keep a lid on investor sentiment
Source: https://www.reuters.com/article/us-global-markets/asian-stocks-set-for-modest-gains-as-tech-woes-check-stimulus-hopes-idUSKBN276003?il=0

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