May 7

Banks make cash recovery of Rs21.17bn against Non Performing Loans

KARACHI: Banks have made cash recovery of an amount of Rs21.17 billion against non-performing loans (NPLs) during the quarter ended March 31, 2021, according to data released by State Bank of Pakistan (SBP) on Friday. The cash recovery against NPLs was Rs49.23 billion for the quarter ended December 31, 2020. Therefore, the recovery fell by […]

by Mrs. Anjum Shahnawaz

Customs stations to remain operational during Eid Holidays

May 7

Pakistan Customs

Customs stations to remain operational during Eid Holidays

ISLAMABAD: Federal Board of Revenue (FBR) on Friday directed customs collectorates to observe normal working hours during Eid Holidays in order to facilitate trade and industry to clearance their goods. The FBR directed the customs station to observe normal working days on May 08, May 10 and May 11 of 2021. The FBR said that […]

by Mrs. Anjum Shahnawaz

CCP discovers monopoly behind massive increase in poultry prices

May 7

Finance

CCP discovers monopoly behind massive increase in poultry prices

ISLAMABAD: The Competition Commission of Pakistan (CCP) has discovered that monopoly of feed mills resulted massive increase in poultry rates at retail state. A statement on Friday said that the nineteen poultry feed companies have been involved in price coordination and their alleged anti-competitive conduct has caused poultry feed price rise. Poultry feed comprises approximately […]

by Mrs. Anjum Shahnawaz

Business community welcomes Pakistan’s inclusion in Amazon list

May 7

Trade & Industry

Business community welcomes Pakistan’s inclusion in Amazon list

KARACHI: Business community has welcomed inclusion of Pakistan in the seller list by the online retail company Amazon.com, Inc. and said it will help the country to boost its exports. Faisal Moiz Khan, President North Karachi Association of Trade & Industry (NKATI), while welcoming the inclusion of Pakistan in the seller list by the world-renowned […]

by Mrs. Anjum Shahnawaz

SBP hailed for allowing opening of banks during Eid Holidays

May 7

Trade & Industry

SBP hailed for allowing opening of banks during Eid Holidays

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday hailed the State Bank of Pakistan (SBP) for allowing banks to open their branches during Eid holidays to facilitate general public. Chairman Businessmen Group (BMG) Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Shariq Vohra appreciated the central bank for paying attention […]

by Faisal Shahnawaz

Turkey’s BiP communication introduces new feature

May 7

IT & Telecom

Turkey’s BiP communication introduces new feature

KARACHI: Turkey’s secure life and communication platform BiP has introduced new feature, allowing users to convey their group chats easily from other applications, a statement said on Friday. Turkey’s secure life and communication platform BiP has witnessed 2 million downloads in Pakistan and 80 million downloads globally. Reaching out to 80 million users globally, BiP […]

by Faisal Shahnawaz

FBR deputes IR officers for budget preparation

May 7

Budget 2021-2022, Taxation

FBR deputes IR officers for budget preparation

ISLAMABAD: Federal Board of Revenue (FBR) on Friday assigned the services of following officers of Inland Revenue (IR) with Member (IR-Policy) with immediate effect and until further orders for ongoing Budget exercise and for preparation of Finance Bill, 2021-2022. Shabih-ul-Aijaz (IRS/BS-20) presently posted as Commissioner-IR (Audit-II), Large Taxpayers Office, Lahore. Taudeer Ahmad (IRS/BS-19) presently posted […]

by Mrs. Anjum Shahnawaz

Rupee appreciates by 32 paisas ahead of Eid holidays

May 7

Money & Banking

Rupee appreciates by 32 paisas ahead of Eid holidays

KARACHI: The Pak Rupee gained 32 paisas against the dollar on Friday owing to inflows of home remittances and export receipts. The rupee ended Rs152.28 to the dollar from last day’s closing of Rs152.60 in the interbank foreign exchange market. Currency experts said that demand for dollar was remained in the market due to extended […]

by Mrs. Anjum Shahnawaz