Fri. May 29th, 2020

Corporate Sector

Finally the deadlock between the government and transporters broke as the transport owners announced to resume the intercity transport service in Punjab after successful negotiations with the government of Punjab. The decision was made after the government agreed to accept the major demands of the transporters and guided them about the SOPs to opt as precautionary measures in connection with Covid-19. The participants of the meeting ... Read More
The Economic Advisor Abdul Hafeez Sheikh spoke it loud and clear that FBR’s tax proposals for the coming year is not aligned with Government vision and it needs to be simplified and easy to boost up business and reduce the cost of compliance. The said message was given to the Ministry of Finance ... Read More
In an important case, the accountability court on Thursday ordered the NAB authorities to file a reference in Fazaia Housing Scheme land scam by May 24, 2020. The owners of Maxim Properties Tanvir Ahmed and Bilal Tanvir had been taken into custody by NAB on account of deceiving the public in the name of Pakistan Air Force (PAF)... Read More
The impacts of lock down due to Covid-19 are quite obviously devastating for all types of business and hence will contribute towards adversely affecting the overall economy of Pakistan and all of its provinces. Although the doctors are urging the government to implement curfew and complete lock down to control the spread of Corona Virus things are ... Read More
In an important development, the board of Utility Stores Corporation (USC) finally assured the workers union to implement the decisions that had been taken in October, 2018 and urged them to call off the countrywide strike. The workers of Utility Stores had gone on strike on last Friday due to non-responsive behavior of the Government and the USC ... Read More
According to the recent records of IMF, Pakistan will have to further reduce its development expenditure for the year 2020 by 34 pc to Rs. 953 billion that was estimated to be Rs. 1.437 trillion before the fatal outbreak of Covid-19. The cut has to be made as a rearrangement of funds so that the $ 6 billion Extended Fund Facility (EFF) could be ... Read More
As a financial support, Pakistan urged China for a relief in payment obligations of CPEC power projects to reduce the adverse impacts Covid-19 that has badly affected the economy of Pakistan. Pakistan owes China an amount of over $ 30 billion for 12,000 megawatt power projects. One of the cabinet members shared with media that ... Read More
Since everything is locked in the country amid the Covid-19 pandemic and so are the educational institutions that have been closed since 13th March, 2020 to 31st May, 2020. Most of the institutions switched their mode of teaching from face-to-face towards online education and carried out their educational activities without any delay. ... Read More
FATF has confirmed that the decision about excluding Pakistan from its grey list would be made in the month of June, 2020 after reviewing its performance in the combat against money laundering and terror financing. The meeting is to be held in the city of Beijing (China) on June 21-26. The Global watchdog based in Paris had given Pakistan ... Read More