Apr 8

Prolonged industry closure to be harmful: FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of the country, urged the authorities to evolve strategy of functioning business activities during lockdown to prevent spread of coronavirus. FPCCI President Mian Anjum Nisar, while criticizing arrest of businessmen urged the relevant authorities to take serious notice of the situation. […]

by Mrs. Anjum Shahnawaz

APTMA demands deferment of utility bills, interest payment

Apr 7

Trade & Industry

APTMA demands deferment of utility bills, interest payment

KARACHI: All Pakistan Textile Mills Association (APTMA) has demanded the government of granting deferment of utility bills and interest payment against loans as industry was facing acute liquidity shortage. APTMA Chairman Zahid Mazhar emphasized that currently there is an acute shortage of liquidity and it is impossible for the mills to pay the utility bills. […]

by Mrs. Anjum Shahnawaz

SBP exempts service charges on payment made to PM Corona Relief Fund

Apr 7

Money & Banking

SBP exempts service charges on payment made to PM Corona Relief Fund

KARACHI: State Bank of Pakistan (SBP) has exempted services charges on donations made to Prime Minister Corona Relief Fund through payment cards. The SBP in a statement on Tuesday said that it previously issued a circular on August 06, 2018 on Service Charges on Donations/ Payments to Supreme Court of Pakistan’s Diamer Bhasha and Mohmand […]

by Mrs. Anjum Shahnawaz

SBP relaxes loan conditions for hospitals combating coronavirus

Apr 6

Money & Banking

SBP relaxes loan conditions for hospitals combating coronavirus

KARACHI: State Bank of Pakistan (SBP) on Monday further relaxed conditions for refinance facilities for hospitals that are engaged in combating the coronavirus (COVID-19). The central bank in a statement said that since the outbreak of COVID‐19, the SBP has taken a number of measures to support the economy. One of the earliest measures taken […]

by Mrs. Anjum Shahnawaz

SBP sets up direct helpline to facilitate banking consumers

Apr 6

Money & Banking

SBP sets up direct helpline to facilitate banking consumers

KARACHI: State Bank of Pakistan (SBP) has facilitated consumers of banks by setting up direct helpline for quick disposal of complaints amid difficult situations due to coronavirus. In a statement issued on Monday, the central bank said it had taken additional measures to facilitate bank customers that are faced with extraordinary challenges arising out of […]

by Mrs. Anjum Shahnawaz

Business community demands cut in tax rates to half for three months

Apr 5

Trade & Industry

Business community demands cut in tax rates to half for three months

KARACHI: Business community has demanded the government of reducing tax rates to half for at least three months in order to provide relief to industry and dilute impact of coronavirus. Karachi Chamber of Commerce and Industry (KCCI) has demanded the government to announce 50 percent reduction for the next three months in: tax rates (Excise […]

by Mrs. Anjum Shahnawaz

Customs directs shipping lines, agents to withdraw delay, detention charges

Apr 4

Pakistan Customs

Customs directs shipping lines, agents to withdraw delay, detention charges

KARACHI: Pakistan Customs on Friday directed shipping companies and shipping agents to extend waiver of delay and detention charges during lockdown to contain coronavirus. Model Customs Collectorate (Enforcement &Compliance) Karachi issued instructions to chairman All Pakistan Shipping Association and chairman Pakistan Ship Agents Association to allow free time to importers. The customs authorities said that […]

by Mrs. Anjum Shahnawaz

Emirates uplifts record cargo from Pakistan amid coronavirus pandemic

Apr 3

Corporate

Emirates uplifts record cargo from Pakistan amid coronavirus pandemic

DUBAI: Emirates SkyCargo completed an industry record uplift of 62 tonnes in a Boeing 777-300 operating from Karachi to Dubai, surpassing its own previous record of 56 tonnes achieved earlier in the week, a statement said on Thursday. Amid these unprecedented times in the wake of the COVID-19 pandemic, Emirates SkyCargo continues to underline its […]

by Mrs. Anjum Shahnawaz

SBP issues instructions to banks on PM corona relief fund

Apr 2

Money & Banking

SBP issues instructions to banks on PM corona relief fund

KARACHI: State Bank of Pakistan (SBP) has issued instructions to all commercial banks and microfinance banks regarding receiving payments under newly established PM COVID-19 Pandemic Relief Fund 2020. In a circular issued on Thursday, the central bank said that the government had notified establishment of a relief fund, namely, Prime Minister’s COVID-19 Pandemic Relief Fund-2020, […]

by Mrs. Anjum Shahnawaz

Apr 2

Corporate

ICI Pakistan suspends production

KARACHI: ICI Pakistan Limited on Thursday announced temporarily closing down its polyester plant and office locations due to measures taken by the government to contain coronavirus. In a notice sent to Pakistan Stock Exchange (PSX), the company said that in accordance with directives of the government with regard to containment of COVID-19, the company has […]

by Mrs. Anjum Shahnawaz