Business

Makes Nausheen Javed Chairperson on permanent basis Jahangir Hayat LAHORE: The Federal government on Monday appointed Nausheen Javed as new Federal Board of Revenue (FBR) Chairperson terminating the appointment of honorary/ pro bono appointment of Syed Muhammad Shabbar Zaidi. The federal cabinet has approved the appointment of Nausheen Javed…

LAHORE: Special Assistant to Prime Minister (SAPM) Dr. Firdous Ashiq Awan said on Saturday the government would open the essential industry  in phases to ensure…

Jahangir Hayat LAHORE: Friends of Economics and Business Reforms (FEBR) president Kashif Anwar has urged the government to take up the issue of…

By Our Staff Correspondent ISLAMABAD: Prime Minister Imran Khan on Friday said that the source of income of those investing in the construction sectors will not be asked. Announcing the package for the construction industry in Islamabad on Friday, he said that the Pakistan Tehreek-e-Insaf (PTI) government is giving status of industry to…

Islamabad: Prime Minister Imran Khan on Thursday said the federal government will announce a relief package for the construction industry on Friday to maintain…

KARACHI: Given the worsening financial situation owing to the coronavirus-induced lockdown, some retailers and mid-level businessmen have asked their employees…

Developing countries, including Pakistan, will be hit hardest by the economic shockwaves caused by the novel coronavirus crisis that has shaken the world and will need a support package of up to $2.5 trillion to cope with the damage, a United Nations report has predicted. According to a report by the UN Conference on Trade and Development…

Reduces lending to Rs 540.04b from Rs 546.80 in 2018 By M Jahangir Hayat LAHORE: MCB Bank’s Non-Performing Loans (NPLs) have touched to a record high of…

By M Jahangir Hayat LAHORE: As many as Rs4,000 each would be distributed among 25 lakh families affected by the lockdown due to COVID-19 for which Rs10 billion…

ISLAMABAD: The International Monetary Fund (IMF) Executive Board decided on Friday to allow all member countries with per capita income below the World Bank’s operational threshold for concessional support to qualify for debt service relief for up to two years. According to a press statement, in direct response to the COVID-19 crisis the IMF…

M Jahangir Hayat LAHORE: Habib Bank Limited (HBL) Patoki MTO has stolen over Rs 70.5 million cash which was to be uploaded in a nearby Automated Teller…

Our Special Correspondent LAHORE: State Bank of Pakistan (SBP) in collaboration with Pakistan Banks Association (PBA) has announced a comprehensive relief…

Our Special Correspondent Lahore: The State Bank of Pakistan (SBP) has allowed all federal and provincial government departments, hospitals in public and private sectors, charitable organizations, manufacturers and commercial importers to make Import Advance Payment and Import on Open Account, without any limit, for the import of medical…

M jahangir Hayat LAHORE: The State Bank of Pakistan Monetory Policy Committee (MPC) has decided to cut the policy rate by a further 150 basis points to…

Our Special Correspondent LAHORE: SBP held a meeting with banks today,through link, to assess their readiness to SBP takes measures to ensure continuous…

Bank increases provision for NPLs to Rs 45.12 billion from Rs 43.53 billion in 2018 By M Jahangir Hayat LAHORE: The Bank of Punjab (BoP) mounting Non- Performing Loans (NPLs) have eaten into the bank’s profit as they soared to Rs 51.36 billion in 2019 from Rs 49.38 billion in 2018, reducing the cash dividend of shareholders just to 7.50…

Our Special Correspondent LAHORE : In light of the pandemic faced by the whole nation Punjab Industrial Estates Development & Management Company (PIEDMC)…

Our Special Correspondent LAHORE: To protect internal and external stakeholders, JS Bank has implemented a business continuity plan to fight the spread of…

M Jahangir Hayat LAHORE: In the wake of the time when Habib Bank Limited (HBL) has announced to complete its US New York operation by March 31, 2020, losing ground for conducting further business there, another chapter of significant ‘irregularities’ by the top bank in its UAE branches has opened. The State Bank of Pakistan indicated the…

Our Special Correspondent Lahore: With an aim to reshape Pakistan’s automobile industry, Regal Automobiles Industries Limited (RAIL), launched Pakistan’s…

 Our Special Correspondent LAHORE: The Federal Board of Revenue (FBR), has released the information about the number of Point of Sales integrated with the…

With industrial sector under stress, demand for imported raw-material is expected to stay low M Jahangir Hayat LAHORE: In view of major developments in the first quarter of the financial year 2019-20, achieving a real GDP growth target of 4 per cent appears unlikely, State Bank of Pakistan (SBP) recent report said. The current account balance is…

By Our  Staff Reporter LAHORE: Grade 21 Officer Captain (R) Javed Akbar is said to be the Senior Member Board of Revenue. Javed Akbar is…

Failure in implementation of policies caused economic downturn; immense opportunities are untapped for women in business especially fashion, cosmetics and…

M Jahangir Hayat LAHORE: A fundamental change will be there to see on the World Customs Day this Sunday as the Federal Board of Revenue (FBR) has ordered all Customs officers including chief collectors and down to grade-7 to put on uniform as prescribed by Schedule-I and II, Daily The Business has learned. A source said that the FBR has…

M Jahangir Hayat LAHORE: Summit Bank Limited (SMBL) has sought its removal of placement from the defaulter's segment in Pakistan Stocks Exchange (PSX). The…

Will he be able to pass the F&T of SBP? M Jahangir Hayat LAHORE: The Punjab government has announced appointment of Atif Bajwa as the president of…

M Jahangir Hayat The Calendar Year 2019 has proved the toughest year for the economy of the country as all section of the society remained complaining about the lowest economic activities and the highest level of prices. However, the economic indicators started showing a slight improvement at the tail end of the year and on the basis of that…

Amendments related to purchases in business income tax returns be implemented at earliest, FBR chief urged. Our Special Correspondent LAHORE: The…

Habib Bank Limited is at top of list among banks, MCB Bank comes second M Jahangir Hayat LAHORE: The State Bank of Pakistan (SBP) imposed staggering over…