Briefs

Briefs

MCB Bank raises staff salaries

By our correspondent

LAHORE: MCB Bank Ltd has raised the salaries of its permanent clerical and security staff along with increase in various allowances, keeping in view the increasing cost of living and its commitment to staff welfare, a statement said on Thursday.

After a successful negotiation process, MCB Bank management and MCB Staff Union of Pakistan (CBA) signed an agreement effective from January 1, 2017 with renewed terms of employee compensation for the next two years, it added.

Usman Hassan, group head Human Resources of MCB Bank management and Riafat Khan Jadoon, president of the MCB Staff Union, signed the agreement at a ceremony held at the MCB House, Lahore.

 

LCCI demands lower Customs duty

By our correspondent

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has demanded the Federal Board of Revenue (FBR) to lower Customs duty on new auto parts from 35 percent to 10 percent that would help get rid of smuggling and would also increase the government’s revenue.

The demand was raised by LCCI Vice President Muhammad Nasir Hameed Khan at a meeting of the Standing Committee on Auto Parts at the LCCI office. The issues of high Customs valuation, misuse of discretionary powers by the Customs officials and smuggling also came under discussion. The LCCI vice president said duty on smuggling-prone items should be fixed between 5 to 10 percent for importers.

 

APBF lauds Pakistan’s new ranking

News Desk

KARACHI: The All Pakistan Business Forum (APBF) has lauded the positive development and congratulated the nation for ensuring that Pakistan’s economic output is rising at a healthy pace, a statement said on Thursday. Global institutional investors use different MSCI indices – such as frontier, emerging, China and the US markets – to create balanced portfolios to generate maximum returns, while keeping in view their overall risk appetite. Emerging markets attract far more funds than frontier markets, it added.

 

SAARC CCI leaves for Amritsar

LAHORE: A 20 member delegation from SAARC Chamber of Commerce and Industry (SAARC CCI) left for Amritsar via Wagah on Thursday to attend its 68th executive committee meeting.

SAARC CCI vice president Iftkhar Ali Malik, who is leading the delegation, said it was for the first time in history that the executive committee was meeting in Amritsar (India) and Lahore from January 26 to 30, 2017. This would strengthen the objective of SAARC and spread a message of peace and harmony in South Asia, he added.

SAARC CCI business leaders delegation from SAARC member countries would arrive in Pakistan via the Wagah border on January 27 and 28, 2017 to hold meetings with the Prime Minister of Pakistan, Punjab governor, commerce minister, and FPCCI officials.