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Govt terminates Shabbar Zaidi’s appointment as FBR chairman

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…
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Rs30b subsidy for Naya Pakistan Housing Scheme: PM

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…
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IMF decides two years debt service relief for poor states

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…
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Bank of Punjab’s mounting NPLs erode profit in 2019

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…
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Achieving real GDP growth target of 4pc appears unlikely: SBP

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…
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