Aug 26, 2017

Licence of Treasury Bond Company suspended!

Due to the failure to pay Rs. 650 million in tax arrears, the licence of a leading liquor manufacturing company has been suspended by the Excise Department.

The tax arrears as of July 31 was Rs. 650 million, while by the end of August it had increased to almost Rs. 900 million.

However, the licence is only suspended temporarily and once the arrears in taxes is paid, their licence will be issued.

There are allegations that this company had also invested money in the Treasury bond issue.

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