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CCP to resume inquiry in sudden increase in retail prices of edible oil prices
ISLAMABAD: The Competition Commission of Pakistan (CCP) will resume an inquiry to ascertain the reasons behind the sudden increase in the retail prices of cooking oil and ghee after the Supreme Court suspended the decision of the Islamabad High Court dated September 14, 2021. –HAMZA HABIB
LCCI seeks govt steps to control inflation, stabilise rupee
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has stressed the need for measures to control inflation and stabilise the exchange rate for providing some relief to the business community. –IQTIDAR GILANI
Bears continue to haunt PSX as KSE-100 Index losses 796.48 points
KARACHI: The Pakistan stocks witnessed yet another profit-taking session, amid higher inflation concerns, monetary tightening, and pressure persisting on the currency; thus, resulting in massive sell-off across-the-board on Tuesday. –JAVED MIRZA
PM inaugurates FBR’s Track and Trace System on sugar sector
ISLAMABAD: Prime Minister Imran Khan on Tuesday unveiled the Federal Board of Revenue’s (FBR) Track and Trace System on sugar sector and expressed the hope that it will help broaden the tax base and address the legitimate tax-related issues of the sugar industry. –HAMZA HABIB
LTO Karachi, foreign investors discuss pending tax issues
KARACHI: The Large Taxpayers Office (LTO) Karachi on Tuesday discussed tax issues with foreign investors from the Overseas Investors Chamber of Commerce Industries (OICCI) operating in Pakistan. –SHAHNAWAZ AKHTER
Tax collection on bank profits declines 26%
KARACHI: The collection of income tax on profit from bank deposits witnessed a decline of 26 per cent during the first four months (July-October) of the current fiscal year due to the lower-key interest rate and withdrawal of money from the banking system. –SHAHNAWAZ AKHTER
Kurram Tangi Dam project Stage-I to be completed in June 2023
ISLAMABAD: The Kurram Tangi Dam project’s Stage-I, being constructed in North Waziristan district of the Khyber-Pakhtunkhwa province, will be completed by June 2023. –HAMZA HABIB
SECP amends rules to facilitate SMEs, startups
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced amendments in the Companies (Further Issue of Shares) Regulations, 2020, to address the impediments being faced by the corporate sector, particularly startups and small companies, in raising equity through conventional modes, a statement said on Tuesday. –HAMZA HABIB
SBP revises regulations to strengthen banking corporate governance
KARACHI: The State Bank of Pakistan (SBP) has issued revised “Corporate Governance Regulatory Framework” with the objective to further strengthen the corporate governance regime of banks and the DFIs and to align the same with international standards and best practices. –SHAHNAWAZ AKHTER
Rupee gains 47 paisas to dollar at market open
KARACHI: The rupee gained 47 paisas against the dollar at the opening of the interbank foreign exchange market on Tuesday as the dollar is being traded at Rs174.30. –SHAHNAWAZ AKHTER
FPCCI slams suspension of gas supply to industries
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has criticised the decision of the government to suspend gas supply to non-export industries. –LATIFUR REHMAN
KCCI supports general industry against gas supply suspension
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has said that it fully supports general industries’ resistance against the suspension of gas supplies, as it would not only affect their own production but would also have a severe impact on the export-oriented industries, as well because both were linked with each other and it was these general industries, which provide raw material to the export-oriented industries. –LATIFUR REHMAN
PSX holds gong ceremony for onboarding PKIC
KARACHI: The Pak-Kuwait Investment Company (PKIC) has been added to the list of market makers for debt securities at the Pakistan Stock Exchange (PSX) and an agreement to this effect was signed on Tuesday. –LATIFUR REHMAN
Punjab showcases startups at Dubai Expo
LAHORE: Punjab Minister for Information Technology and Higher Education Raja Yasir Humayun has appreciated the Punjab Information Technology Board for promoting entrepreneurship spirit among the youth. –IQTIDAR GILANI
TMA deploys My Falcon Eye to strengthen business operations
KARACHI: The Towel Manufacturing Association of Pakistan (TMA) has organised a Business-2-Business (B2B) match-making event for better connectivity between TMA members and buyers at TMA House, a statement said. –LATIFUR REHMAN
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