CM Casts Vote in Senate Election
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VOLUME 13 | No 320 Lahore Regd No. CPI 251 WORLD STOCKS/ SPORTS COMMODITIES 6P10 6P9 The China sends De Villiers written response headlines to trade reform An English Daily published simultaneously from Lahore and Faisalabad new SA www.thebusiness.com.pk T20 league PAGES 12 | Rs 20 demands BusinesRabi-usl-Awal 07, 1440, Friday, November 16, 2018 Body of SP Dawar handed over to Pak officials at Torkham The Business Report their Pakistani counterparts. Taking to Twitter, PM Khan said: had ordered assassination of Khyber On October 26, the ill-fated police of- In a series of tweets, DG ISPR said According to sources, the Afghan au- "Have followed the shocking tragedy of Pakhtunkhwa’s (KP) Superintendent ficial had gone missing from Ramna SP Tahir Dawar’s abduction, move to ISLAMABAD: The body of mar- thorities had clarified that the corpse the murder of SP Tahir Khan Dawar and Police (SP) Tahir Khan Dawar, well-in- neighbourhood of Islamabad. A high- Afghanistan and follow up behaviour tyred Superintendent of Police (SP) would only be handed over to member ordered Khyber-Pakhtunkhwa govern- formed sources privy to security agen- level committee was constituted that by Afghan authorities raised questions Tahir Dawar has been handed over to of National Assembly (MNA) Mohsin ment to coordinate with Islamabad po- cies told our correspondent. conducted raids at scattered places in which indicated the involvement or re- Pakistani officials. Dawar as State Minister Shehryar lice in holding an inquiry immediately." As soon as news of Dawar’s martyr- the country. The committee also held sources more than that of a terrorist or- The body was received at the Torkham Afridi and Shaukat Yousafzai arrived at The premier added that Minister of dom surfaced, the controversial MNA talks with members of Jirga (traditional ganisation in Afghanistan. border from Afghan officials by Minister the Torkham Border. State for Interior Shahryar Afridi has Mohsin Dawar attempted to put the assembly of tribal leaders. The military spokesman reiterated of State for Interior Shehryar Khan PM orders inquiry into SP been tasked to "oversee it with an ur- blame of hapless incident on Pakistan Dawar’s murder raises questions that while investigations by Pakistani Afridi, Shaukat Yousafzai, Mohsin Dawar's murder gency and present the report" to PM. and pointed fingers at country’s secu- about terrorist bodies authorities were in process, Afghan se- Dawar, Deupty Commissioner Khyber Prime Minister Imran Khan on Afghanistan's notorious NDS rity apparatus. Sources further added Director General ISPR Major Gen- curity forces should cooperate in border and other security officials. Earlier, Thursday ordered an "immediate in- ordered assassination of SP that Mohsin Dawar held direct talks eral Asif Ghafoor said the brutal mur- fencing and bilateral border security co- Afghan authorities have refused to hand quiry" into the murder of Superinten- Afghanistan’s notorious spy agency with hostile Afghan officials and re- der of SP Tahir Dawar in Afghanistan ordination to deny the use of Afghan over body of slain SP Tahir Dawar to dent of Police (SP) Tahir Khan Dawar. National Directorate of Security (NDS) mained in contact with them. was high condemnable. territory against Pakistan. C M Y K Pak reserves lowest among rTahe Bustineses Repdort sovereigns minimum adequacy thresh- sions to remain the biggest old of three months. risk to Asia Pacific’s broadly LAHORE: Moody’s in its Regarding the financing stable outlook, with tighten- “2019 Global Emerging Mar- gap which excludes foreign ing global liquidity creating ket Outlook” report on exchange reserves, Moody’s another risk. Thursday said Pakistan’s re- said it is likely to total $8-9b In the Asia Pacific, most serves adequacy is among the taking into consideration the economies would continue lowest of rated sovereigns, government’s borrowing growing solidly if at a slow- covering less than two plans and their expectations ing pace, said Moody’s. months of imports as of Sep- for capital inflows which in- Notwithstanding, the ris- tember 2018. clude portfolio and foreign di- ing trade between the two Moody’s stated the share rect investment (FDI) flows. biggest global economies, the of foreign currency debt is According to the rating US and China could impact relatively low at approxi- agency, slower global growth and sentiment. Fur- mately 35pc of total govern- growth, rising interest rates, thermore, for financial insti- ment debt, declining foreign trade protectionism and tutions the tightening dollar reserves because of a current geopolitical tensions would liquidity and increasing inter- account deficit of around ISLAMABAD: President Dr Arif Alvi and First Lady Mrs Samina Alvi inaugurate Presidential Corner in the National Library of Pakistan. four to five percent of the g Minister of Education, Professional Training and National Heritage Shafqat Mahmood is also present. GDP raise repayment risks. ‘Moody’s stated the share of It projected the EVI to rise foreign currency debt is relatively to 153 percent in 2018 and successful negotiations for a low at approximately 35 percent PTI's Walid, Russian Ambassador in LCCI Fawad Ch new IMF programme would decrease external financing of total government debt Ezdi win barred from risks for Pakistan. As per a recent report re- pose challenges for emerging est rates creates some risks, Pak-Russian direct leased by Moody’s in Octo- markets next year. said the rating agency. Senate by-poll Senate session ber, it projected Pakistan’s It maintained a broadly “Structured finance trans- By Our Staff Reporter By Our Staff Correspondent gross external financing stable outlook and incorpo- actions will continue to per- banking channels needs at around $30 billion rates the likely resilience of form strongly in China, but LAHORE: Pakistan Tehreek-e- ISLAMABAD: Senate Chairman for the fiscal year 2019, due most emerging market is- some delinquency rates may Insaf’s (PTI) Walid Iqbal and Seemi Sadiq Sanjrani on Thursday barred In- to the widening current ac- suers to these aforemen- rise in India. For corporates Ezdi have on Thursday emerged a must for trade formation Minister Fawad Chaudhry count deficit. According to tioned challenges, due to a and infrastructure and project winner on general and reserved seats By M J Hayat Trade Representative Yury M from attending the ongoing Senate ses- the rating agency, the current range of different buffers in- finance issuers, our expecta- from Punjab in Senate by-poll, as per Kozlov said that two years be- sion over his failure to tender an apol- account deficit for FY19 cluding strong balance tions for earnings stability or unofficial and unverified results. LAHORE: Pakistan and Russ- fore it was decided between ogy to the Upper House. would total 4.6 percent of sheets, domestic growth and growth support our stable out- Iqbal won with 184 votes, while ian trade can be enhanced to a Russian Central Bank and the Over the past month, the informa- GDP which would be slightly supportive policy. look. But we expect a more Majeed secured 176 votes. narrower than the 5.8 percent record high level, if direct bank- National Bank of Pakistan tion minister and opposition members Still, credit stress could ap- challenging year for a number On the women s seat, Aizdi was deficit clocked in FY18. pear for issuers operating in of sectors,” said Moody’s. ing channels are established be- (NBP) that one NBP branch will have clashed bitterly in the parliament able to get 183 votes while Tarar The rating agency high- countries with macroeco- In Europe, the Middle tween the two countries. be set up in Russia but the deci- over the former's invective, forcing the got 175 votes. These views were expressed sion was never materialised. lighted foreign exchange re- nomic imbalances or increas- East and Africa, credit con- latter to demand an apology, and The two seats in the upper house by the Russian Ambassador to While conducting mutual serves adequacy had fallen to ing political risk, especially ditions are mixed fueled by of the parliament fell vacant after Pakistan Alexey Y. Dedov while trade, both the countries have to briefly boycott the session. a low level, barely enough to those heavily dependent on fluctuations in growth, pol- Supreme Court of Pakistan (SC) dis- addressing businessmen and face huge losses in terms of After the Senate session began on provide two months of goods international financing. icy and external liquidity, qualified two lawmakers of Pakistan traders at the Lahore Chamber of money when the payments are Thursday, the opposition reiterated imports and below the IMF’s Moody’s warned trade ten- said Moody’s. Muslim League Nawaz Haroon Commerce and Industry made through other banks their demand for Chaudhry to apolo- Akhtar and Sadia Abbasi for holding (LCCI) on Thursday. via Dubai, etc. In reply gise, with opposition leader Raja Za- dual nationalities on the date of fil- The Ambassador said to businessmen and farul Haq telling Sanjrani: "There has ing their nomination papers. that currently Pakistan traders questions, he been a lot of bad blood in the house and 17-member PM's Task Force A seven-member larger bench of and Russian trade in also welcomed the it is affecting the house's pride. the apex court headed by Chief Jus- terms of dollars are idea of barter sys- "We do not have any other solution to tice of Pakistan (CJP) Justice Mian encouraging as till tem between the this than just walk out. Until an apology on IT and Telecom approved Saqib Nisar in its short verdict has September 2018, two countries. is tendered, the rest is all meaningless." By Our Staff Correspondent Executive Officer Shahid Mustafa, and others. directed the Election Commission of their trade has LCCI President Senator Hasil Bizenjo was more assertive Another report adds: The federal cabinet Pakistan (ECP) to de-notify Saadia touched the figure of Almas Haider said with the opposition's demand, saying: ISLAMABAD: The cabinet has approved discussed the country’s political and eco- Abbasi and Haroon Akhtar.