FBR addresses licensing rules

The Federal Board of Revenue (FBR) has resolved most of the issues raised by customs agents regarding changes to the Customs Agents Licensing Rules 2001, as per a press release. This decision followed detailed discussions aimed at addressing concerns stemming from amendments introduced in SRO.1618(I)/2024.

On the instructions of FBR Chairman Rashid Mahmud Langriyal, a high-level meeting was held on October 23, 2024, at FBR House between FBR officials and representatives of the customs agents. The meeting was chaired by Chief Collector Peshawar, Nasir Jamil, and was attended by Chief Collector (South) Appraisement Mohsin Rafiq, Farid, Zakir Khan, and Inamullah Wazir. The Customs Agents were represented by Saifullah Khan, Chairman of the All Pakistan Customs Agents Association, and Muhammad Aamir, President of the Karachi Customs Agents Association.

During the meeting, the customs agents expressed their concerns over the modifications made in the Customs Agents Licensing Rules under SRO.1618(I)/2024. These changes had sparked unease within the customs agents’ community. However, after a constructive dialogue with FBR, the majority of their suggestions were accepted.

NBP hosts Pinktober event

National Bank of Pakistan (NBP) hosted a special Pinktober event at its head office, Karachi, dedicated to raising awareness about breast cancer as per a press release. The event was attended by senior executives, including Muhammad Ismail Usuf, Group Chief of Treasury & Capital Markets Group; Mirza M. Asim Baig, Group Head of HRMG; Abdul Waheed Sabir, Executive Vice President of HRMG; and Farooq Hasan, Executive Vice President. Esteemed guests included Omer Aftab, CEO and Founder of Pink Ribbon; Dr Samia Hussain, Head of Medical Affairs at Healthx Pakistan; and Khadija Maisam, Health & Wellness Specialist.

A range of topics was discussed, including breast cancer statistics in Pakistan, the importance of large-scale awareness campaigns, access to early detection, outreach to remote areas, and the role of corporate and governmental support. Discussions also covered patient willpower, the impact of a healthy lifestyle, and the role of organic foods. Over 200 participants engaged in the session, which also included a lively Q&A segment hosted by Dr Saqlain Sher.

Dow university at Expo Centre

Provincial Public Health Lab (PPHL) Sindh, Dow University of Health Sciences, in collaboration with the American Society for Microbiology (ASM) hosted a “Breast Cancer: Stop it before it starts!” session at the Karachi Expo Centre as per a press release.

The session was led by Dr Saeed Khan, Programme Director of PPHL-Sindh and ASM Ambassador to Pakistan and featured prominent speakers.

They delivered insightful presentations focused on the critical importance of early detection, effective screening practices, and dispelling prevalent myths surrounding breast cancer.

Security Papers reports growth

Security Papers Limited’s financial results for the first quarter, ended September 30, 2024 show a 5.75pc growth in after-tax profit compared to the same period last year as per a press release. In Q1FY25, the company achieved net sales of Rs2 billion, showcasing a significant increase from Rs1.7bn in the last period last year.

Chairman Muhammad Aftab Manzoor commented on the results: “While the 5.75pc increase is a positive step, we recognise the need for continued efforts. Our strategic initiatives have strengthened our market position, and we will remain focused on enhancing our product offerings and expanding our reach to deliver value to our shareholders and customers alike.”

PSO’s 48th AGM

Pakistan State Oil (PSO) convened its 48th Annual General Meeting (AGM) in Karachi, chaired by Chairman Asif Baigmohamed as per a press release. Managing Director & CEO, Syed Taha, other board members, and senior management were also present.

The company posted a gross revenue of Rs3.8 trillion, with a profit after tax of Rs15.9 billion, translating to earnings per share of Rs33.79.

The management briefed shareholders on vertical expansion initiatives through Cerisma Pvt Limited and PSO Renewable Energy. Shareholders praised PSO’s consistent performance, strategic focus on innovation through vertical expansion, financial empowerment, and reinforced leadership in Pakistan’s energy landscape.

Published in Dawn, The Business and Finance Weekly, October 28th, 2024