“Social Media is a double-edge sword, having both positive and negative effects; however, one cannot learn its effects and benefits through straight jacket. Other societies have already defined it benefits but Pakistani society not.” This was stated by Prof. Dr. Khalida Ghaus, Managing Director, Social Policy & Development Centre, Karachi, while she was addressing the meeting of Shura Hamdard Karachi Chapter, presided over by Justice (Rtd) Haziqel Khairi at a local hall on Thursday July 14, 2016.… Continue

President of Korangi Association of Trade & Industry Zahid Saeed, Senior Vice President Saleem-uz-Zaman and Vice President Syed Wajid Hussain said in a statement that any further delay in release of tax refunds will not be acceptable. The statement was a response of news regarding blockage of 100bn by FBR for refunds.… Continue

A panama flag vessel “CHEMTRANS 1” was rescued by Karachi Port Trust (KPT) on Saturday 16^th July and towed the ill fated vessel from 11 nautical miles from KPT approach channel under extreme monsoon weather and averted  an eminent major disaster i.e… Continue

Pakistan Government has granted exemption from custom duty, general sales tax and withholding of income tax on import of ships and all floating crafts including tugs, dredgers, survey vessels and other specialized crafts purchased or bareboat chartered by a Pakistani entity and flying Pakistan Flag.… Continue

Petron in chief of Korangi Association of Trade & Industry (KATI) SM Muneer, President Zahid Saeed, Senior vice president Saleem Uzzaman, Vice President Syed Wajid Hussain and members of KATI’s Executive Committee expressed deep sense of sorrow over the demise of renowned social worker, Abdul Sattar Edhi, in a statement.… Continue

National Bank of Pakistan (NBP), says that its all branches remained open till 6 Pm on the 4^th of July, 2016 to ensure all funds pertaining to pensioners are distributed effectively before start of Eid holidays. A press statement has clarified that news regarding shortage of cash at main branches and ATMs were false as customers of the bank were able to transact a total of PKR 79.6 crores from NBP’s widespread ATM network in the past 24 hours. … Continue

The accumulated imports and export cargo handling at Karachi Port during financial year ending closed at 50.05 million tons whereas in the previous financial year it remained at 43.42 million tons. It is an outstanding performance that the port has shown to record 15.25% more cargo handling during 2015-16.… Continue

Petron in chief of Korangi Association of Trade and Industry (KATI) SM Muneer and President of the association Zahid Saeed appreciated The Federal Board of Revenue (FBR) for achieving tax collection target and welcomed the news of historic increase in foreign currency reserves.… Continue

In a strategic decision, Mobilink has outsourced its contact centers in Islamabad and Karachi to Ibex Global, a wholly owned subsidiary of ‘The Resource Group’ (TRG) International and Mindbridge. The deal will see Ibex Global retain Mobilink’s current contact center staff on similar financial remunerations, and Mobilink has ensured that there will be no loss of jobs. … Continue

Mr. Atif Bajwa, CEO Bank Alfalah (left) and Sikander Mustafa Khan, Chairman, Millat Tractors Limited (right) at the MOU signing ceremony, which were signed between their respective companies. Bank Alfalah has partnered with Millat Tractors to provide innovative vendor financing solutions.… Continue

Pakistan government in federal budget 2016-17 has allocated Rs36 billion subsidies on urea and announced a massive cut in sales tax in order to boost up fertilizer sales in country. These measures have generated hope of a 20 percent cut in domestic fertilizer prices during the upcoming crop season, analysts said on Tuesday.… Continue

Pakistan Stock Exchange (PSX) has organized a media briefing to discuss re-entry of Pakistan Capital Market into MSCI Emerging Market Index, at Karachi Press Club yesterday. Mr. Muneer Kamal, Chairman, Pakistan Stock Exchange (PSX) Mr. Nadeem Naqvi, Managing Director, PSX and Deputy MD Haroon Askari have presented a background and their efforts to get reinstate in the index.… Continue

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President of Korangi Association of Trade & Industry (KATI) Zahid Saeed urged for pre-monsoon arrangements in Karachi. He referred to recent forecast of heavy rains by weather department. He said that water drainage system of the metropolis has been collapsed and need cleaning and reconstruction on different spots and location.… Continue

National Investment Trust Limited (NITL), the largest Asset Management Company of Pakistan has declared interim distribution for all Funds under its management for the year ending June 30, 2016. The announcements were made through a press release issued by NITL on June 15, 2016 after its Board of Directors approved the interim distribution for all Funds under its management.… Continue

K-Electric and SINA Health Education and Welfare Trust signed an MoU whereby KE will be providing 100% free electricity to the non-profit organization. SINA is the 15th partner in the K-Electric Social Investments Program (SIP), an initiative which empowers institutions working to bring social change to Pakistan by providing them free electricity.… Continue

Pakistan’s first and largest branchless banking service Easypaisa has partnered with Inbox Technologies for the upcoming Metro Bus mass transit project to operate in Lahore and Multan. While Inbox Technologies handles the automated fare collection and bus scheduling system, Easypaisa will be the distribution and cash management partner offering 33 Easypaisa shops for facilitating ticket bookings, smart cards sales, and recharge options at convenient locations.… Continue

Telenor Group has aqppointed Irfan Wahab Khan as Chief Executive Officer of Telenor Pakistan. The current CEO of Telenor Pakistan, Michael Foley,will join Telenor Bulgaria on the same position and continue as Chairman of the Board of Directors of Tameer Microfinance Bank in Pakistan.… Continue

The Institute of Business Administration (IBA), represented by its Acting Dean & Director Dr. Sayeed Ghani, signed a MoU with The Citizens Foundation, represented by its President and CEO Mr. Syed Asaad Ayub Ahmad, at the IBA Main Campus to prepare TCF students for University testing and offer operational and consultative support.… Continue

In the true essence of financial empowerment for the masses of Pakistan, Easypaisa is once again leading the industry with the launch of a term deposit plus running finance offer. Based on its reputation for understanding customer needs, Easypaisa’s dual value product is unlike any other currently in the market.… Continue