Category: Business

KARACHI: The country should take full benefit of the relaxations under arrangement of special and emergency clauses allowed by the global trading system under World Trade Organisation, said Federation of Pakistan Chambers of Commerce and Industry Vice President Sheikh Sultan Rehman. Speaking at a webinar on “Covid-19: Trade and Trade Related Measures”, he said that […]

ISLAMABAD: The government has so far disbursed soft loans worth Rs1 billion among 2,190 qualified entrepreneurs under the Youth Entrepreneurship Scheme (YES) of Prime Minister’s Kamyab Jawan Programme. Of the total disbursements, at least 30 per cent were given to women whereas male applicants received around 70pc, the office of Special Assistant to the Pri­me […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday asked all tier-I retailers to integrate with the point of sale system by August 31, 2020. The board warned retailers that the failure to register will result in a penalty up to Rs1 million. Moreover, retailer’s business premises can also be sealed. All retailers are required […]

KARACHI: Askari Bank declared 1HCY20 PAT of Rs4.95 billion, increasing 59 per cent compared to the same period last year. EPS rose to Rs3.93 while customer deposits grew by 8pc to reach Rs734bn. CASA ratio improved from 82pc to 86pc. Gross advances increased to Rs434bn reflecting an increase of 9pc. Meezan Bank Ltd (MEBL) posted […]

ISLAMABAD: In a crucial development, a government team and two groups of independent power producers (IPPs) and wind power projects (WPPs) reportedly reached an understanding on reduction in the rate of return on equity and late payment surcharge (LPS) and sharing of savings on account of plant efficiencies on Thursday. A senior government official told […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday said that around 40 projects have been registered under the amnesty scheme for construction sector. In addition, around 4,812 projects are being drafted for registration with the IRIS System. An official announcement said that the FBR has received an impressive response from builders, developers and taxpayers […]

KARACHI: The State Bank of Pakistan has introduced a new mechanism for making payments to globally recognised digital service providers to help businesses, including those in information technology and financial sectors. The new mechanism would enable companies in Pakistan to make instant payments for acquiring services from globally recognised digital service provider companies without any […]

QUETTA: Amid tight security, Pakistan has opened its border with Afghanistan at Chaman for resuming Afghan transit trade and other business activities after a high-level meeting held in the border town recently took a decision to this effect. Official sources said that 317 trucks loaded with dried fruit and other goods crossed into Pakistan from […]

KARACHI: Stocks tumbled on Thursday as a sequel to announcement of rese­rved judgement by the Supreme Court which declared that the Gas Infrastructure Develo­pment Cess (GIDC) was required to be paid by corporates in the state’s exchequer. The index spiralled downwards to intraday low by 575 points but managed to recover greatly as it was […]

K-Electric CEO Moonis Alvi can see the light in the darkness. Quite literally. “I was coming from Islamabad that night. Karachi lit up brightly as the plane started its descent. It looked beautiful,” he said about the night in the last week of July when Karachi received torrential rain in record time and the city, […]