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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...

  • Layoffs of state-owned enterprises employees to be resisted: Bilawal

    KARACHI: Pakistan Peoples Party chairman Bilawal Bhutto-Zardari has warned the Pakistan Tehreek-i-Insaf (PTI) government to stop conspiring against the workers and labourers employed by state-owned enterprises, adding that any layoff of government, semi-government or state corporation employees would be vehemently resisted...

    In a statement issued on Wednesday, the PPP chairman said Prime Minister Imran Khan and some of his cabinet...

  • Two die from heatstroke in Karachi amid forecast of hotter weather

    KARACHI: Soaring temperatures claimed two lives in the city on Friday amid a forecast of a hotter weather in the next two days, with mercury levels expected to rise up to 40 degrees Celsius...

    Earlier, the Pakistan Meteoro­logical Department had issued a warning of rising temperatures in Karachi amid the already hot weather being experienced throughout Sindh...

  • Weather vane 'stolen' from Karachi's Frere Hall, Chief Secretary takes notice

    KARACHI: Chief Secretary Sindh Siddique Memon on Wednesday took notice of 'theft' of a rooster-shaped weather vane which used to sit atop Karachi landmark Frere Hall...

    Chief Secretary spokesman Naukhaiz Anwar Siddiqi said Memon has also ordered Karachi Commissioner and Karachi Municipal Corporation Administrator Shoaib Siddiqui to submit a report on the incident within two days...

  • Japan to provide Rs1.6bn for weather monitoring system in Karachi

    ISLAMABAD: The weather surveillance radars established in Karachi nearly 24 years ago will be replaced with a modern, digitalised system for which the Japanese government will provide a grant of Rs1...

    The Karachi radar system has played an important role in monitoring meteorological phenomenon in the southern area and tropical cyclones formed over the Arabian Sea and Bay of Bengal...

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