VIS reaffirms entity ratings of Zarai Taraqiati Bank Limited on July 2, 2024VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Zarai Taraqiati Bank Limited (‘ZTBL or’the Bank) at ‘AAA/A-1+’ (Triple A/A-One Plus). The medium to long-term rating of ‘AAA’ denotes highest credit quality; the risk factors are negligible, being only slightly more than for risk-free Government of Pakistan’s debt. The short-term rating of’A-1+’ […]
‘She Loves Tech Pakistan 2024’ launched in Lahore on June 27, 2024The highly anticipated ‘She Loves Tech Pakistan 2024’ competition kicked off its Lahore City round, co-organized by CIRCLE Women Association and LUMS Centre for Entrepreneurship. The event, held at the LUMS Centre for Entrepreneurship, saw the participation of 15 shortlisted women-led startups vying for a chance to compete in the National Finale in August. This […]
Mashreq Pakistan secures approval to launch Islamic banking operations on June 27, 2024Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region, has announced a significant milestone in its foray into Pakistan. Mashreq Pakistan has been granted In-Principal Approval (IPA) by the State Bank of Pakistan to commence its Islamic Banking operations within the country. This is a pivotal moment that […]
Senate proposal offers lifeline: Hope for Pakistan’s dairy industry amidst proposed tax on June 26, 2024The Pakistan National Budget 2024-25 originally proposed an 18% sales tax on packaged milk, a measure intended to boost government revenue but with potential widespread impacts on public health, agriculture, and economic stability. However, responding to concerns raised, the Senate of Pakistan has intervened with a recommendation to maintain the zero rating for packaged milk […]
American Business Council urges government to reconsider 25% SAP expense disallowance policy on June 25, 2024The government has disallowed 25% Sales Promotion, Advertising and Publicity (SAP) expense creating a significant marketing cost especially to multinationals that rely on advertising to sell fast moving consumer goods (FMCG). This means a higher tax liability for foreign companies, already struggling with current macroeconomic conditions. It also means an anti-competitive and discriminatory landscape targeting […]
DG SCO inaugurates high-tech freelancing hub in Haveli on June 23, 2024Special Communications Organization (SCO) has developed a new Freelancing Hub in Haveli, Azad Jammu and Kashmir (AJ&K). The initiative introduces cutting-edge technologies to local youth for development of niche skills and promotion of business enabling environment in IT domain. Major General Umar Ahmad Shah HI(M), DG SCO, officiated the opening, emphasizing SCO’s resolve to transform […]
International Nathiagali Summer College from Monday on June 23, 2024Pakistan Atomic Energy Commission (PAEC) has announced that International Nathiagali Summer College (INSC) on Physics and Contemporary Needs will be inaugurated on Monday 24 June 2024 here in Islamabad. Federal Minister Prof. Ahsan Iqbal is expected to be the chief guest in the inaugural session. This year after the inauguration of INSC, special session on […]
Value-added textile exporters reject new tax regime on June 23, 2024The value-added textile exporters have rejected the proposed shift from one percent turnover-based Final Tax Regime (FTR) to the standard taxation at 29 percent of taxable profit, proving to be disastrous for the exports. Pakistan Hosiery Manufacturers & Exporters Association (PHMA), in a hurriedly called meeting, held here today, observed that this proposal to remove […]
CAP urges continuation of 15pc GST on retailers on June 23, 2024Chairman of the Chainstore Association of Pakistan (CAP) Rana Tariq Mehboob has urged the government to maintain the 15% GST rate for Integrated Tier-1 Retailers by retaining S. No. 66 of the Eight Schedule of the Sales Tax Act 1990, which is proposed to be omitted in the Finance Bill 2024, as the FBR-POS integration […]
ICMA, Dynamics Solution and Technology sign MOU on June 22, 2024Institute of Cost and Management Accountants of Pakistan (ICMA) and Dynamics Solution and Technology have formalized their collaboration through a Memorandum of Understanding (MOU) signed at the ICMA Lahore Campus. This strategic partnership aims to leverage the strengths of both organizations in corporate training, seamless HR processes including job placements and internships, collaborative research projects, […]