SHC Restores FBR’ Millions of Dollars Worth Track and Trace Project

The Sindh High Court has restored millions of dollars Track and Trace project by giving the order in favor of M/s AJCL and FBR. SHC Judge Justice Kausar Sultan in her decision stated that this court has no territorial jurisdiction to pass an order. The plaintiff/bidder (SICPA SA) had challenged the FBR’s grievance committee order …

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Congestion at Chinese Ports over China’s Zero Tolerance Covid-19 Policy

Several Chinese ports are facing congestions as vessels due to call at Ningbo get diverted and cargo processing slows partly due to stricter disinfection measures called for by China’s “zero-tolerance” coronavirus policy. On Tuesday, more than 50 container vessels were queuing at Ningbo port, China’s second largest marine centre, Refinitiv data showed, up from 28 …

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1st Ever Export of Mango under TIR Convention

The Pakistan Customs has processed the first fresh mango (White Chaunsa) consignment for export to Moscow, Russia under the TIR Convention. According to the statement, this was one of the first endeavors to introduce Pakistani fresh fruits and indigenous goods to Russia. It will help the Pakistani traders to capture markets not only in Russia …

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SBP Introduces SME Asaan Finance Scheme (SAAF) That Does Not Need Collateral

The State Bank has introduced an innovative initiative to improve access to finance for Small and Medium Enterprises (SMEs) in collaboration with the Government of Pakistan, with the express aim of enabling businesses who cannot offer security/collateral to access bank finance. This initiative has been brand named ‘SME Asaan Finance’ or SAAF to emphasize the …

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Govt Imposes Additional 7.5% WHT on Electricity Bills Over Rs. 25,000 for Non-Filers

Non-filer consumers who use more than Rs. 25,000 worth of electricity per month will now have to pay an additional 7.5 percent tax on electricity bills. Lahore Electric Supply Company (LESCO) announced through its website that the government had implemented a new withholding tax (WHT), effective from July 1, 2021. The statement on LESCO’s website …

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