Pakistan News

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  • Distressed enterprises need a better support mechanism

    On Sept 12 the senate passed the Corporate Rehabilitation Bill, 2017, to provide an institutional arrangement and legal process for the revival and rehabilitation of distressed companies...

    The legislation resembles American bankruptcy laws in terms of management arrangement, litigation during bankruptcy proceedings and access to fresh funds
  • Interest-free loans for small enterprises planned

    PESHAWAR: The business community and officials of Small and Medium Enterprise Development Authority (Smeda) have agreed on several points, including a proposal to establish a revolving fund for provision of interest-free loans to the small and medium enterprises in the provincial metropolis, in order to boost the local economy...

  • FBR issues notices to alleged owners of offshore enterprises

    ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday issued notices to persons, who have been alleged of possessing offshore enterprises by the International Consortium of Investigative Journalists (ICIJ), said a statement issued by FBR...

    Mariam Nawaz is described as “the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993”...

  • SBP redefines small, medium enterprises

    KARACHI: In a major move, the State Bank on Friday changed the definition of small and medium enterprises, while general reserve requirement against non-fund based small enterprises portfolio has been abolished...

    The SBP issued a detailed circular to all banks and development financial Institutions (DFIs) with amendments in prudential regulations for small enterprises (SEs) and medium enterprises (MEs)...

  • Credit to loss-making state-run enterprises up 45pc

    KARACHI: The loss-making public sector enterprises (PSEs) borrowed Rs115 billion during the first seven months of this fiscal year, reflecting the government’s utter failure to make them profitable...

    Recently, the International Monetary Fund has said that annual losses of ailing public sector enterprises swelled to 3...

  • Public enterprises eat up 3.5pc of GDP in debts

    KARACHI: The public sector enterprises’ (PSEs) debt has almost soared to Rs1 trillion at the end of third quarter of FY18, State Bank of Pakistan (SBP) reported in its latest issue of Statistical Bulletin for June...

    The debts of these enterprises reached 2...

  • PM directs promotion of small and medium enterprises

    ISLAMABAD: Prime Minister Imran Khan on Friday directed his economic team that promotion of small and medium enterprises (SMEs) must be focused on to boost economic growth...

    The meeting was informed that Ecnec also approved Rs579 billion for the projects in agriculture, water and infrastructure sectors including mass-transit projects for Karachi...

  • SEZ enterprises seek an end to ‘backdoor’ taxes, equal treatment with Chinese investors

    Karachi: A meeting of commerce adviser to Prime Minister and the chairman Federal Board of Revenue (FBR) with investors of two special economic zone (SEZs) on Wednesday ended in disappointment for the businessmen...

    5 per cent turnover tax on sales revenue of enterprises operating in the zones, whereas the owners of these enterprises say that they were promised their enterprises would be tax exempt when they made the decision to...

  • Karachi operation is completely apolitical, stresses Corps Commander Karachi

    KARACHI: Corps Commander Karachi Lt Gen Naveed Mukhtar said Saturday that the Karachi operation is completely apolitical, adding that it will continue without any discrimination...

    Speaking at a seminar organised by the National Defence University at a private hotel in Karachi, the corps commander said, "I assure citizens that our struggle against terrorism will continue unabated...

  • COVER: The heart of Karachi: Karachi Raj By Anis Shivani

    IN his debut novel Karachi Raj, erstwhile critic Anis Shivani depicts a year’s worth of Karachi life as viewed from the differing perspectives of an American anthropologist and a couple of individuals living in the low-income district of the Basti...

    Shivani’s first foray into the realm of fiction intrinsically grapples with an immensely complex topic — the stratified social layers of which Karachi life is composed...

  • Karachi notebook: Is a ‘Naya’ Karachi possible?

    But for the residents of Karachi, the question on everyone’s minds is: will Naya Pakistan also mean a Naya Karachi?By Naya Karachi one does not mean New Karachi, the neighbourhood on the northern tip of the metropolis beyond North Karachi...

    By Naya Karachi, one means a revived, clean and crime-free megacity that can be regenerated from the endless urban sprawl that currently exists...

  • PSP chief accepts Karachi mayor’s offer to help clean Karachi, seeks his removal

    KARACHI: The ongoing war of words between Karachi Mayor Wasim Akhtar and Pak Sarzameen Party (PSP) chairman Mustafa Kamal took an intriguing turn on Monday when the city custodian “designated” the latter as “Project Director Garbage on voluntary basis” to clean the city...

    “I, being Mayor of Karachi, hereby designate Syed Mustafa Kamal as Project Director Garbage on [a] voluntary basis with immediate effect until further order,” said...

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