Tag Archives: Corporation

Rs 323m embezzled in Utility Stores Corporation

Pointing to serious malpractices in the Utility Stores Corporation (USC), the audit officials have unearthed illegal appointments of 780 persons and embezzlement, losses and serious financial irregularities amounting to Rs 323 million

Chinese state-owned corporation willing to invest in Thar coal project

KARACHI – A Chinese state-owned corporation has expressed willingness to invest in the Thar coal project and other power projects in the province. China Godian Group Chairperson Renaiquin shared these views during her meeting with Sindh Chief Minister Syed Qaim Ali Shah at the Chief Minister’s House on Wednesday, where provincial government officials briefed her about Thar coalfield. She is leading a seven-member Chinese delegation currently on a visit to the country. According to an

Barclays flayed over UK corporation tax bill

LONDON – Protesters and lawmakers condemned Barclays Bank after it revealed it paid only £113 million ($184 million) in British corporation tax in 2009 – a fraction of its profits. Opposition lawmaker Chuka Umunna, a member of the parliament’s treasury committee, said it was shocking and accused Prime Minister David Cameron of failing to ensure banks paid a fair contribution towards cutting the deficit.
Across Britain, a number of small protests took place outside Barclays

MCB collaborates with Engro Corporation on Rupiya scheme

Karachi: MCB Bank Limited & Engro Corporation signed an agreement appointing MCB as a distributor for Engro’s Rupiya Certificates (ERC) issue of Rs four billion. This initiative was spearheaded by the Bank’s Investment Services Department that is currently involved in the delivery of various mutual funds and investment services and has grown over the last year to become Pakistan’s largest mutual fund distributor to retail customers in terms of sales volume.
Under this agreement