Business

Web Desk — One of the major ride-hailing apps – Uber has announced to stop operations in Pakistan, media has reported. The company was operating only in Lahore after ending operations in five other cities in 2022. As Uber’s spokesperson says, it will be taken over by subsidiary Careem in Lahore. He said the company had decided to cease its …

Web Desk — The Central Power Purchasing Authority (CPPA) has proposed the imposition of tax on installation of solar panel systems for domestic or commercial purposes. The authority has asked the government to receive Rs2,000 per kilowatt tax from users of solar panels. People call it a move that would discourage those shifting to solar for producing electricity. The tax …

Web Desk — Yamaha YBR-125 aims at giving tough competition to rival companies in Pakistan with its sporty looks and powerful engine. Its 4-stroke OHC 125 cc engine will happily propel you around city streets with its smooth fuel injection and five-speed gearbox. Yamaha YBR 125 features both Self Starter/Kick Starter systems. Its ignition system is 12V DC – CDI …

Web Desk — Pak Suzuki Motor Company Ltd (PSMCL) said its corporate data was leaked due to a cyberattack. PSMCL, in a stock filing on Monday, said initial investigations suggest that the server’s data related to human resources, financials, etc., has been ported to a public IP. “We have onboarded a security consultant to conduct a detailed forensic assessment and …

Web Desk — As business activity resumed operations after Eid holidays, the Pakistani Rupee sustained its stability against US Dollar in the foreign exchange market. Currency dealers surprized to note that despite the payment of $1 billion in Eurobond, the value of the rupee remained steady. The interbank rate saw a slight decrease of 6 paisas, with the dollar now …

Web Desk — Prime Minister Shehbaz Sharif gave away awards to the highest taxpayers and exporters of the country at the Tax Excellence Awards 2024. According to the media reports, Imtiaz Hussain of Imtiaz Provision Stores tops the list of the highest income tax payers. Musadaq Zulqarnain of Interloop Limited is the second in this list. Tarique Aziz Channa, the …

Web Desk — Bank Alfalah Limited, one of Pakistan’s leading commercial banks, has announced to suspend its major services for three days. The bank has informed all customers that its major services will be unavailable for three days starting today due to the revamping of its technology infrastructure. Without disclosing the specifics, the bank said, ATMs, CDMs, CCDMs, debit cards, …

Web Desk — To strengthen the banking sector’s efficiency and fairness in complaints handling and to address customer issues, the State Bank of Pakistan (SBP) has launched ‘Sunwai’ – a customer complaint service portal and app. According to the central bank’s press release, ‘Sunwai’ will serve as a one-window operation for banking customers to register their complaints against Banks, Microfinance …

Web Desk — Pakistan makes amendments to its visa policy in order to facilitate foreign investors as the country is going through an economic crisis. The Kakar-led caretaker government has taken this step to woo investors and businesses from across the globe and now foreign investors will receive Pakistan’s six-month business visa within a day. The Special Investment Facilitation Council …

Web Desk — Pakistan imported mobile phones worth Rs. 32.7 billion in August 2023, according to the latest Pakistan Bureau of Statistics (PBS) data. The PBS data shows imports in August 2023 were 71 percent higher than imports of Rs. 19.1 billion registered in July 2023. The massive increase in imports is seriously alarming for the balance of payments as …