General Tyre And Rubber Company Faces 67.8 Per Cent Loss Just In One Year


General Tyre and Rubber Company faces 67.8 per cent loss just in one year

The company made just Rs 20.93 million profit as compared to the corresponding period last year despite payment of all taxes.

KARACHI: (Urdu Point/Pakistan Point News-Feb 22nd, 2020) Despite tall claims of the ruling PTI of boosting up the business community, General Tyre and Rubber Company faced 67.8 per cent loss in its profit as compared to the previous year.

According to a report published with an urdu daily, the company earned Rs 90.11 million profit after payment of all taxes last year. However, the company could make Rs20. 93 million profit during the ongoing year after payment of taxes which resulted in overall loss of 67.8 per cent in profit.

Taking to Twitter, renowned tv anchor Ajmal Jami shared the news on his twitter account and made an indirect approval of current status of business saying that: “Deep reading of a newspaperreflects that the business in the country is booming, economy is running fast and new agreements are coming into force,”. He wrote: “Baqi Jewain Marzi Sanya di,”( The rest is as what the lords wish). Mr. Jami also shared clipping of another news about agreement between Foji Foods and MCR.

Addressing a ceremony couples of weeks ago in Karachi, Prime Minister Imran Khan said that they had relaxed NAB laws to boost up the business community of the country and assured that his economic team was always there for the support of businessmen. On Friday, he claimed that the country had come out of the crisis situation and was set on the right track.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.