Browsing Category
Business
Business
COVID-19 lockdown: SMEs, markets be allowed to work under SOPs to avoid joblessness: FEBR
Our Special Correspondent
LAHORE: Local markets and small & medium industries (SMEs) should be
allowed to open for a specific time under strict SOPs enabling money
to circulate in the economy saving millions of workers from getting
jobless amid the COVID-19 lockdown.
Friends of Economic & Business Reforms (FEBR) President…
Read More...
Units with confirmed exports orders likely to be opened amid…
Jahangir Hayat
LAHORE: The Ministry of Commerce (MoC) has proposed opening of Industrial Units with confirmed exports orders under special SOPs amid the…
Read More...
Wondertree, a startup from Pakistan selected for Google
LAHORE: A Karachi based startup is among eleven businesses from around the world who are the successful applicants of Google’s Accelerator programme on…
Read More...
FBR chief asked to extend relief to cement industry
By Our Special Correspondent
LAHORE: Cement Industry has demanded of the newly-appointed Federal Board of Revenue (FBR) Chairperson Nausheen Javed Amjad to extend relief for claiming rebate against cement exports.
The cement industry stakeholders through Friends of Economic and Business Reforms (FEBR), a trade and industry representative…
Read More...
Terminal operators defying FBR directions on free…
By Our Special Correspondent
LAHORE: Customs authorities have finally come to know that their terminal operators have done away with the Federal Board of…
Read More...
COVID-19: PALIMA chief Faheem Ur Rehman seeks permission to…
Jahangir Hayat
LAHORE: The government has not announced any packages for the small
scale industry and the packages announced are for the large scale.…
Read More...
More flexibility to hospitals under SBP Refinance Facility for Combating COVID-19
KARACHI: State Bank of Pakistan has taken a number of measures to support the economy, since the outbreak of COVID-19. One of the earliest measures taken by SBP was to support the hospitals, which have been at the fore front in combating the disease, by providing them a facility to meet their financial needs namely the SBP Refinance Facility to…
Read More...
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…
Read More...
Essential industry to be opened in phases: Firdous
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…
Read More...
Free demurrages, detention time period be extended till COVID-19 ends: FEBR
Jahangir Hayat
LAHORE: Friends of Economics and Business Reforms (FEBR) president
Kashif Anwar has urged the government to take up the issue of
demurrages and detention on priority basis to facilitate the business
community in the wake of the time of worst type of the pandemic
COVID_19 which have played havoc with the trade and industry…
Read More...
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…
Read More...
Govt will announce relief package for construction industry…
Islamabad: Prime Minister Imran Khan on Thursday said the federal government will announce a relief package for the construction industry on Friday to maintain…
Read More...
Businesses unable to pay salaries due to lockdown
KARACHI: Given the worsening financial situation owing to the coronavirus-induced lockdown, some retailers and mid-level businessmen have asked their employees to limit personal expenditures as they may not be able to pay new month’s salary if the current situation persists.
In a message to his employees, an owner of an electronic goods store…
Read More...
Pakistan will be among hardest-hit economies by coronavirus…
Developing countries, including Pakistan, will be hit hardest by the economic shockwaves caused by the novel coronavirus crisis that has shaken the world and…
Read More...
MCB Bank’s NPLs soar to record Rs49.42b in 2019
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…
Read More...
COVID-19: Rs 4,000 each to be distributed among 25 lakh families affected by lock-down
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 have been allocated. The Punjab government has also decided to waive off provincial taxes of Rs18 billion.
Punjab Chief Minister Sardar Usman Buzdar while giving a briefing to the media…
Read More...
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…
Read More...
Habib Bank Limited official runs away with Rs 70.5 million
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…
Read More...
SBP and PBA join forces to cope with economic impact of COVID-19 Pandemic
Our Special Correspondent
LAHORE: State Bank of Pakistan (SBP) in collaboration with Pakistan Banks Association (PBA) has announced a comprehensive relief package to tackle growing concerns about the potential economic impact of the COVID – 19 pandemic,
. This package will help relevant stakeholders including households and businesses…
Read More...
importers allowed to make Import Advance Payment, Import on…
Our Special Correspondent
Lahore: The State Bank of Pakistan (SBP) has allowed all federal and provincial government departments, hospitals in public and…
Read More...
SBP cut policy rate by further 150 basis points
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…
Read More...
Banks to told ensure continuous banking services amid COVID-19 situation
Our Special Correspondent
LAHORE: SBP held a meeting with banks today,through link, to assess their readiness to SBP takes measures to ensure continuous availability of banking services amid COVID-19 situation
SBP held a meeting with banks today,through video link, to assess their readiness to ensure uninterrupted supply of banking services…
Read More...
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-…
Read More...
PIEDMC initiates campaign to place hand sanitizers at…
Our Special Correspondent
LAHORE : In light of the pandemic faced by the whole nation Punjab Industrial Estates Development & Management Company (PIEDMC)…
Read More...
JS Bank Implements measures to fight Coronavirus
Our Special Correspondent
LAHORE: To protect internal and external stakeholders, JS Bank has implemented a business continuity plan to fight the spread of Corona Virus.
The Bank has implemented across the board communication of precautionary measures, distributed masks and sanitizers at locations nationwide, disinfected operating locations…
Read More...
Another chapter of Habib Bank’s ‘irregularities’ opened up…
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…
Read More...
Prince Pearl launched with an 800cc
Our Special Correspondent
Lahore: With an aim to reshape Pakistan’s automobile industry, Regal Automobiles Industries Limited (RAIL), launched Pakistan’s…
Read More...
5,783 Point of Sales Integrated with FBR
Our Special Correspondent
LAHORE: The Federal Board of Revenue (FBR), has released the information about the number of Point of Sales integrated with the FBR System.
According to the released information, so far 5,783 POSs of 286 retailers have been integrated with FBR and the sales tax invoices issued by these POSs are being reported to…
Read More...
Achieving real GDP growth target of 4pc appears unlikely:…
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…
Read More...
Who will be a new SMBR?
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…
Read More...