The government has amended the insolvency law to provide for a pre-packaged resolution process for micro, small and medium enterprises. An ordinance was promulgated to amend the Insolvency and Bankruptcy Code (IBC) on April 4, according to a notification. The latest move comes less than two weeks after the suspension of certain IBC provisions ended. The suspension wherein fresh insolvency proceedings were not allowed for a year starting from March 25, 2020 was implemented amid the coronavirus pandemic disrupting economic activities. According to the ordinance, it is considered necessary to urgently address the specific requirements of Micro, Small and Medium Enterprises (MSMEs) relating to the resolution of their insolvency, due to the unique nature of their businesses and simpler corporate structures.
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THE STANDARD By
Dominic Omondi |
April 4th 2021 at 01:32:28 GMT +0300
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Thanks to the fiscally responsible policies of the North Carolina General Assembly, state government has some $5 billion in unspent funds and unanticipated revenues in its General Fund. And thanks to the fiscally irresponsible policies of Congress and the Biden administration, North Carolina will receive another $5.2 billion in âCOVID-19 recoveryâ funds that will be borrowed from Chinese investors and other holders of federal treasuries.
Gov. Roy Cooper and his aides have looked up at that towering, tottering mountain of one-time cash and taken its measure. They think itâs
too small.
So in the 2021-23 budget proposal he just released, the governor is recommending that North Carolina borrow another $4.6 billion for capital spending on schools, colleges, universities, museums and other government facilities. Some of these projects are clearly worthwhile. Others are pork-barrel giveaways. Still others are somewhere in the middle â nice-to-haves, letâs say, t
National
April 4, 2021
LAHORE: National Assembly’s chief whip MNA Malik Muhammad Amir Dogar called on Punjab Chief Minister Usman Buzdar at 90-Sharah-e-Quaid-i-Azam on Saturday. MNA Karamat Khokhar was also present on this occasion.
Matters regarding mutual interests, development projects and affairs of the Southern Punjab Secretariat came under discussion during the meeting. The chief minister said the setting up of Southern Punjab Secretariat is the credit of the PTI government. The Southern Punjab Secretariat is being further strengthened, he added. An additional chief secretary will be posted in Southern Punjab on a permanent basis. He said people of backward areas will benefit from the fruits of development.