Pakistan News

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  • Prestigious UMA 22nd CNS Open Golf launched

    5 million in 1995 and rising to a bumper Rs 7 million event, the UMA 22nd Chief of the Naval Staff (CNS) Open Golf Championship has grew in magnitude over the last two decades and has been a most sought after golfing event of the Pakistan golf calendar...

    Chief Executive Officer of the United Marine Agencies (UMA) Sohail Shams, who is himself an avid golfer, reiterated that his company will continue to support the game in future...

  • 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...

  • Small and medium enterprises are in trouble

    Small and medium enterprises (SMEs) are borrowing more from banks despite a big rise in interest rates...

    The core purpose of that policy should be to enable our SMEs to compete with those of China, India and Bangladesh so that they can contribute more to our export growth...

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

    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 invest in these zones...

    In a third “reminder” letter sent on Aug 27, they told the FBR that “[o]ur decision to invest in an SEZ was based on the SEZ Act 2012 in which SEZ enterprises are ‘exempt from all taxes on income’...

  • 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...

  • Apple opens map development office in India's Hyderabad

    NEW DELHI: Apple said Thursday it will open a development office in Hyderabad, as its chief executive Tim Cook continued his India charm offensive with an investment boon to one of the country's top technology hubs...

    It pits Apple against Google, which has made maps a key focus of its attempt to forge inroads in India, a vast but largely untapped Internet market where almost a billion people are still not online...

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