Telecom sector starts cutting jobs: Pakistan’s telecom sector, which flourished during the last five years and created numerous highly paid jobs, is now feeling the heat of economic crisis and has started laying off employees. This is not surprising as international telecom industry is already cutting jobs to cut their operational costs as worldwide recession strikes many countries. Both mobile phone manufacturers and cellular service providers are slashing their staff in the wake of declining profits.

LG wants to become Worlds No1 LCD TV manufacturer: LG electronics, global leader in TV products, wants to become NO1 LCD TV and Home Entertainment System maker of the world this year. This year the company is aiming for 16 % overall market share in flat panel TVs and sales of more than 21 million TVs. The company plans to sell 18 million LCD TVs and 3 million plasma TVs.

FBR reconciles companies’ data with Mahassal and Pral: The Federal Board of Revenue has reconciled data of corporate entities and companies available with the “Mahassal” automation programme and also that of available with Pakistan Revenue Automation Limited (Pral). The Pral is a subsidiary of the FBR engaged in IT-related projects, whereas “Mahassal”, developed by an income tax team, is an end-to-end solution to all direct taxes related operations and electronic communication with the income taxpayers.