Industrialists have demanded that the government provide a level-playing field to all players of the local industry aimed at bolstering economic growth. They slammed the prevailing banking laws, mentioning the unilateral focus on interest recovery and discretionary powers that primarily benefitted banks and lending institutions. Despite entrepreneurial efforts to expand businesses, many find th
Commercial banks have demanded a fixed annual interest rate of 16.6% for deferring recoveries of their Rs281 billion loans to Pakistan International Airlines for five years, a demand Finance Minister Dr Shamshad Akhtar has refused to accept. Akhtar has made a counterproposal to give around 10% interest on the Rs281 billion loans, based on the banks’ actual cost of borrowing, according to source
Commercial banks have demanded a fixed annual interest rate of 16.6% for deferring recoveries of their Rs281 billion loans to Pakistan International Airlines for five years, a demand Finance Minister Dr Shamshad Akhtar has refused to accept. Akhtar has made a counterproposal to give around 10% interest on the Rs281 billion loans, based on the banks’ actual cost of borrowing, according to source
Prime Minister Anwaarul Haq Kakar has convened a federal cabinet meeting on Tuesday to approve restructuring of the Federal Board of Revenue (FBR) after all stakeholders conceded significant ground for a divorce between the Inland Revenue Service (IRS) and the Customs Group. The separation of the two service groups, which are collecting taxes, will result in an end to the FBR, whose parent body
Prime Minister Anwaarul Haq Kakar has convened a federal cabinet meeting on Tuesday to approve restructuring of the Federal Board of Revenue (FBR) after all stakeholders conceded significant ground for a divorce between the Inland Revenue Service (IRS) and the Customs Group. The separation of the two service groups, which are collecting taxes, will result in an end to the FBR, whose parent body