Business & Industry

FBR Launches a Confidential Reporting System Against Corruption

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Federal Board of Revenue (FBR) Member Inland Revenue Operations Dr. Muhammad Ashfaq Ahmed launched a confidential system for taxpayers to lodge complaints of corruption, rent-seeking, and unethical conduct against any FBR functionary without any fear of reaction or revenge.   In this connection, the FBR has issued circular 10 of 2021 here on Monday regarding …

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Pakistan Among World’s Largest Manpower Provider for Online Services

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As demand for Pakistani manpower grows worldwide, the country has become the third-largest supplier of technical manpower for online services globally. “We are glad to share that, as a testament to abilities of our youth, the International Labour Organization (ILO) has ranked Pakistan as the 3rd largest contributor of technical manpower for online services globally,” …

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SadaPay Partners With IDEMIA To Revolutionize And Expand Banking Services In Pakistan

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With IDEMIA’s Global Fintech Accelerator Card Program, the Pakistan-based fintech firm can now effectively scale-up its operations and offer a superior payment experience, powered by state of the art technology. As the world goes digital, payment cards are arguably the last physical touch-point between the bank and its customers. SadaPay’s approach to financial services is …

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FATF Grey-Listing Caused ‘$38b Losses’

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Pakistan has sustained a staggering $38 billion economic losses due to the Financial Action Task Force’s (FATF) decision to thrice placed the country on its grey list since 2008, says a new research paper published by an independent think-tank, Tabadlab. The findings of ‘Bearing the cost of global politics — the impact of FATF grey-listing on Pakistan’s economy’ …

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SECP Proposes Quicker Turnaround Time for Cash Dividends Payment

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Taking another step towards facilitating minority shareholders, the Securities and Exchange Commission of Pakistan (SECP) has proposed reducing turnaround time for payment of cash dividends to shareholders of listed companies from the existing 15 days to 3 working days only. The SECP has issued draft amendments to Companies (Distribution of Dividends) Regulations, 2017 to solicit …

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Chinese Company to Finance Industrial Park in Lahore

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A Shanghai-based company has pledged $150 million to establish an industrial park in Lahore for the housing of dyeing machines, high-end fabric units, and garment production facilities. Managing Director Chen Yen, who is also the top official leading the project under the Shanghai Consortium Challenge Apparel, expects the Industrial Park to become operational by July …

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SBP Makes Digital and Card Transactions More Secure and Easier

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In order to promote digital payments, SBP has been taking steps to make them more secure, introducing new features and promoting their use. In consultation with the industry and other stakeholders, SBP has taken more steps to make digital transactions and card payments more secure and easier. Now the consumers will only have Europay MasterCard …

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