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Banking Sector NPLs soar 8.8pc to Rs768b by H1CY19 end

M Jahangir Hayat LAHORE: The Banking Sector Non Performing Loans (NPLs) to total Gross Loans, (infection ratio) has increased to 8.8 percent totaling PKR 768 billion by the end of H1CY19, against 8.0 percent by end H2CY18, weakening the Asset Quality of the banking sector during H1CY19, State Bank of Pakistan, Financial Stability Department…
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FBR officers warned for utilization of total budget in Q1

Our Special Correspondent LAHORE: The Federal Board of Revenue (FBR) has warned the chief collectors, collector, director general who have spent above 40 percent of the budget during the first quarter of the Current Financial Year 2019-20. As per details, the competent authorities has taken serious view of the violation of Finance Division’s…
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Golden Jubilee Ceremony Held for Members Mecognition

LAHORE: The Lahore Chamber of Commerce & Industry Saturday organized a prestigious ceremony for the recognition of Golden Jubilee Members who are associated with the premier chamber for 50 years or more. LCCI President Almas Hyder, along with Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem-ur-Rehman Saigal, gave Golden…
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HBL, MCB Bank stand tall with Rs 320m, Rs 159m penalty each

1-Violation of Anti-Money Laundering, Terrorism Financing Rules prompted SBP Offsite Supervision & Enforcement Department to take action  2-The other eight banks included Dubai Islamic Bank, Silkbank Limited, Bank Alfalah Limited, Allied Bank Limited, Sindh Bank Limited, Summit Bank Limited, JS Bank Limited and Habib Metropolitan Bank…
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FBR joint teams visit Lahore markets

Our Special Correspondent LAHORE: In pursuance of Federal Board of Revenue’s directions, joint team of Pakistan Customs and Inland Revenue today on 4 th September visited the Mall of Lahore in its ongoing anti- smuggling drive. As many as 22 shops were visited to sensitize their managers to display their NTNs, STRNs and update their returns…
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FBR RTO-II makes it difficult for tax evader to get away

Summons 63,011 non-ST registered industrial, commercial units M Jahangir Hayat LAHORE: Federal Board of Revenue (FBR) Regional Tax Office-II, Lahore has hitherto issued 63011 sales tax registration letters/notices to industrial and commercial connection holders of LESCO and SNGPL. Lahore RTO-II Chief Commissioner Ahmad Shuja Khan propounded…
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