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Business
Rs 680m Danish School contract scam unearthed: FIR lodged, six including three managers of ABL and UBL arrested
Jahangir Hayat
LAHORE: A Rs 680 million scam has been unearthed in which Allied Bank Limited (ABL) managers are said to have opened fake accounts, UBL Bank manger issued four fake guarantees, other accused persons formed a fake company, Ajwad Builders, struck a fake Joint Venture (JV) with Mehsood Engineers and Developers and attained contract…
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PTBA seeks upgradation of Punjab Revenue Authority
Our Special Correspondent
LAHORE: Pakistan Tax Bar Association (PTBA) has proposed upgradation of the Punjab Revenue Authority PRA.
PTBA senior…
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LCCI Export Trophy: Pakistan will not only be having a good…
M Jahangir Hayat
LAHORE: President of the Islamic Republic of Pakistan Dr Arif Alvi has said that Pakistan will not only be having a good export…
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Govt urged to control volatility of rupee against US dollar
Our Special Correspondent
Lahore: Friends of Economic and Business Reforms (FEBR) President Kashif has urged the government to control volatility of rupee against the US dollar, as the industrial revival and economic growth is not possible without stability of local currency.
Kashif Anwar said that Pakistani rupee continued its downward…
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LCCI election hangs in balance as PIAF-Founders Alliance…
DGTO asked to issue SOPs to hold polls
M Jahangir Hayat
LAHORE: Lahore Chamber of Commerce and Industry (LCCI) election 2020-21 hangs in balance as…
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Pakistan needs to shift from low value added products to…
The exports hold immense importance for Pakistan’s economy: LCCI Irfan Iqbal Sheikh
SVP LCCI Ali Hussam Asghar emphasizes to resolve issues of bilateral…
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LCCI Election: Founders Group finalises candidates for corporate, associate classes
The Group selects Tariq Misbah, Mardan Ali Zaidi, Malik Riaz and Sherin Arshad for Corporate Class candidates while Maqbool Ahmad, Shahzad Butt, Imran Bashir and Shahid Nazir for Associate Class
M Jahangir Hayat
LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Founders Group has finalized its Corporate and Associate…
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PTBA, BTBA condemn shifting of 38 top taxpayers from RTO…
Observe as next to impossible for both taxpayers and lawyers to cover distance of 700km for tax affairs
M Jahangir Hayat
Lahore: Pakistan Tax Bar…
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Ali Hussam Asghar assumes office as LCCI Acting President
Pir Syed Nazim Hussain Shah, Murdan Ali Zaidi, Khadim Hussain, Mian Zubair have greeted LCCI Acting President Ali Hussam Asghar for taking charge
Our Specil…
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GGGL set to make aggressive expansion of Rs7 billion in current fiscal year
Jahangir Hayat
Lahore: Global Ghani Glass Limited (GGGL) is all set to make an aggressive expansion of over Rs 7 billion in various stages during the current fiscal year.
According to a company notification, the Board of Directors of Ghani Global Glass Limited in their meeting held at Corporate Office of the Company has decided to approve…
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FBR sees encouraging response of construction industry…
Our Special Correspondent
Lahore: Federal Board of Revenue has stated that the response of builders, developers and taxpayers on the construction…
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Action against FBR corrupt and inefficient offices in the…
Meeting On Refunds Held in FBR HQ
Our Special Correspondent
LAHORE: Federal Board of Revenue (FBR) has decided to take action against irregularity,…
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Basit Abbasi’s ASO impounds record Rs 1970 million illegal goods, vehicles
87 percent additional cases were registered in 2019-20
Our Special Correspondent
LAHORE: Customs Lahore Anti-Smuggling Organization (ASO) has collected
87 percent additional cases of smuggled and contraband goods and
vehicles in the Financial Year 2020-19.
Sources told Customs Today that the additional 87 percent cases have
been…
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FBR surpasses Rs4 trillion mark in 2019-20
Our Special Correpondent
LAHORE: The gross revenue collected in the FY 2018-19 was 3895 billion which has surpassed 4 trillion in FY 2019-20 for the…
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FBR claims to achieve revised revenue of target of Rs 3907b…
Our special correspondent
LAHORE: Federal Board of Revenue (FBR) has collected 411 billion revenue in the month of June, 2020 against the set target of 398…
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Value-added textile export industry rejects Federal Budget 2020-21: PBF president
Our Special Correspondent
Lahore: There must be consistency in the policies and no way backs for quite some times for the long run growth and development while overnight shift in policies has also ways been disadvantageous.
This was sated by Pakistan Businesses Forum (PBF) President and former FPCCI Chairman Standing Committee on Textiles,…
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PEC to approve bio medical equipments designs
Our Special Correspondent
Lahore: The Health Department has notified Pakistan Engeenring Congress (PEC) to approve bio medical equipments.
In the…
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Rs 2240bn Punjab Budget 2020-21 presented
Jahangir Hayat
LAHORE: Punjab Finance Minister Makhdoom Hashim Javan Bakht has
presented the budget 2020-21 in the Punjab Assembly with a total
outlay of…
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Pak economic basics remain strong to tackle virus, says Baqir
By Our Staff Correspondent
KARACHI: Governor State Bank of Pakistan (SBP) Reza Baqir said that our economic fundamentals remain strong to tackle the economic challenges that have emerged due to coronavirus pandemic.
“Prior to this pandemic our economic situation was improving, the stock market was going upward, the exchange rate was being…
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Bank of Punjab announces 21.5% YoY decline in 1Q profit
Our Special Correspondent
LAHORE: Bank of Punjab (BOP) has unveiled its financial results for the 1st quarter ended March 31, 2020, wherein the net…
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Access to cheap electricity isn’t possible without…
By Our Staff Reporter
LAHORE: The Chairman of Mustafai Business Forum of Pakistan, Sheikh Muhammad Tahir Anjum has said that around 12 billion units of…
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Importers call for action against govt directives’ breach
Our Special Correspondent
LAHORE: The commercial and industrial importers have asked the Prime Minister to take action against those companies, which have continuously been violating the government advice and refusing the clear directions of various state agencies like FBR and EDB to relax detention and demurrage charges at least in lockdown…
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LCCI greets Chela Ram Kewlani for becoming chairman…
Our Special Correspondent
LAHORE: Lahore Chamber of Commerce and Industry (LCCI) office bearers Saturday congratulated Chela Ram Kewlani on becoming…
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SBP asked to announce policy for industrial importers
Our Special Correspondent
LAHORE: The Friends of Economic and Business Reforms has appealed the central bank to formulate some financial policy for…
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PHMA requests to release deffered sales, income tax refund claims
Pakistan Hosiery Manufacturers & Exporters Association profoundly appreciates the government's initiative to expedite refunds to exporters under FASTER system. However, in order to ease and facilitate exporters liquidity problems in this most difficult times, PHMA also requests for release of old deferred sales tax refund & income tax…
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COVID-19 lockdown: FEBR writes letter PM seeking demurrages,…
Our Special Correspondent
LAHORE: The commercial and industrial importers have continued seeking relief of demurrage & detention at ports as after…
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PSX Management ‘unmindful’ of additional three minutes…
PSX considers the trades as valid On Friday evening: management
Our Special Correspondent
Lahore: Trending continued for three additional minutes at…
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Customs I&I anti-smuggling superintendent tested COVID-19 as positive
M Jahangir Hayat
LAHORE: Directorate Customs Investigation and Intelligence Anti-Smuggling superintendent has been tested COVID-19 as positive and is admitted to 1000-bed quarantine at the Expo Centre Lahore.
Lahore Customs I&I Superintendent Younis Qadri told Daily The Business that upon fever he applied for a leave on Thursday, however,…
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Pakistan needs to take tough economic decisions amid…
By M Jahangir Hayat
Pakistan needs to take tough economic decisions amid pandemic as it has lost over $6 billion in trade with China, US and EU alone during…
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COVID-19: FPCCI president demands Bangladesh like bailout…
Asks for deferment of gas, electricity, other bills
Says 70pc percent wages payment to employees is not an individual's demand
Jahangir Hayat
LAHORE:…
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