Business
Yarn merchants urge FBR to stop Harassment over turnover tax
Karachi, April 26, 2019: Muhammad Saqib Goodluck, Chairman Pakistan Yarn Merchants Association (S & B Zone) has strongly voiced protest over the issuance of Notices to Cotton Yarn Trades & act of Harassment & Demand for its withdrawal & issuance of Clarification over SRO – 333/2011 from Federal Board of Revenue. Muhammad Saqib Goodluck has…
Engro Corporation announces Financial results of 1Q
Karachi, April 26, 2019: Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the first quarter ended March 31st, 2019, at a meeting held yesterday at the Engro Leadership Academy. Consolidated revenue grew by 21% in comparison to the prior period, driven by higher Urea sales in the Fertilizer business. The Company…
Bank Alfalah EPS Rs1.8, down 3PC in 1Q19
Abu Dhabi, April 25, 2019: The Board of Directors of Bank Alfalah in their meeting held in Abu Dhabi on 25 April 2019, approved the Bank’s unaudited interim financial statements for the period ended March 31, 2019. Profit before taxation stands at Rs. 6.134 billion for the quarter ended March 31, up from Rs. 5.075…
HBL collaborates with Visa to Launch QR Payments Service in Pakistan
Karachi, April 25, 2019: HBL & Visa collaborated to launch Visa on mobile. A QR-based mobile payments service that allows consumers in Pakistan to make instant and secure payments. The move is expected to accelerate the adoption of digital payments in Pakistan. Visa is known as the world leader in digital payments. To use the…
Non-Resident Pakistanis unable to operate bank AC from abroad
Karachi, April 25, 2019: Non-Resident Pakistanis (NRPs) are facing serious issues due to present State Bank of Pakistan (SBP) regulations when they open or operate bank accounts in Pakistan. Bankers said that SBP regulations are discouraging NRPs to open bank accounts and remit funds to Pakistan. There are some four major restrictions on NRP accounts…