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Author Archives: CT Report

Gold rates down Rs100 per tola

KARACHI: Gold prices in the domestic market decreased by Rs100 to Rs89,300 per tola on Friday, according to media. Likewise, the rate of 10 grams of precious yellow metal also recorded a drop of Rs86 and was traded at Rs76,560. Meanwhile, gold prices in the global market edged higher today but were on track to post its biggest weekly drop ... Read More »

Wheat prices skyrocket across the country

LAHORE: Flour prices across the country have skyrocketed across the country, selling for Rs62/kg across the stores. According to Retailers Association, the price of the flour has increased by five rupees in just the last week due to a shortage of wheat supply. “Fine flour is available for Rs62/kg while the price of mill flour has been increased by five ... Read More »

Customs will provide all possible facilities to importers: Nadeem Memon

KARACHI: Collectorate of Customs Appraisement East Collector Dr. Mohammad Nadeem Memon has assured to solve the problems facing the commercial importers at the import level and also provide all possible facilities. While talking to a delegation called by Pakistan Chemicals & Dyes Merchants Association (PCDMA) Chairman and former Director of Pakistan Stock Exchange, Amin Yousuf BalgamWala. Amjad Yaqoob, Muhammad Idrees ... Read More »

FBR detects $5m worth of under-invoicing in IT imports

ISLAMABAD: The Federal Board of Revenue (FBR) detected over $5 million worth of under-invoicing in IT imports after the Senate Standing Committee on Commerce and Textile pointed out irregularities in the imports. Briefing the Senate Standing Committee on Commerce and Textile FBR Member Customs Operations Jawwad Agha said a few dealers and importers resorted to manipulation of the receipts to ... Read More »

Pakistan-China forms body to explore financial package for ML-1: Envoy

ISLAMABAD: Chinese ambassador to Pakistan Yao Jing has said that China and Pakistan had constituted a joint committee to explore financing modalities and find appropriate financial package for the mega Main Line (ML-1) railway project. Addressing media persons here on Wednesday night, the envoy said that due to huge financial implication, the project was facing little delays however it would ... Read More »

Irregularities worth Rs11.82b revealed in NTDC

LAHORE: Irregularities worth Rs 11.82 billion have been revealed in the National Transmission and Despatch Company (NTDC) as per special audit report. According to details, contracts were given to favorite companies and overpayments of Rs 3 billion were made. The NTDC suffered loss of Rs 19.50 crore in Neelum-Jhelum transmission line contract. GST fund worth Rs 4.10 billion was not ... Read More »

Court extends Khursheed Shah’s judicial remand for 17 days

SUKKUR: Accountability court on Friday has extended judicial remand of PPP leader Khursheed Shah for 17 days in assets beyond income case. During the hearing, the court has allowed National Accountability Bureau (NAB) to investigate the accused regarding the case and directed to re-produce him on February 3. The anti-graft watchdog’s questionnaire based on 10 queries has also been handed ... Read More »

Completion of projects under PSDP govt’s top priority: Asad Umar

RAWALPINDI: Minister for Planning and Development Asad Umar has said that the government’s top priority is the early completion of projects under the Public Sector Development Projects (PSDP). The present government spent a huge amount of Rs75 billion on development schemes in the month of December 2019 alone under the PSDP. In the previous six months this expenditure was around ... Read More »

NAB approves filing references against Nawaz Sharif, Zardari & Yousaf Raza Gillani

ISLAMABAD: The National Accoutability Bureau (NAB) on Thursday has approved the filing of references against Nawaz Sharif, Asilf Ali Zardari and Yousaf Raza Gillani over allegations of distributing Toshakhana’s luxury cars among themselves. According to the details, NAB chairman Justice Javed Iqbal presided over a meeting of the executive board which discussed the matter pertaining to the misuse of Toshakhana ... Read More »

Pakistan gained investments worth $1.8b in six months: SBP

KARACHI: In a statement by the spokesperson of State Bank of Pakistan on Thursday, it was announced that the rate of investment in the country saw an increase of 68 percent from July till December. The statement further read that foreign investment in Pakistan was recorded at 1.34 billion dollars in the past six months. The performance of the Pakistan ... Read More »

PSX KSE-100 gains 72 points in volatile session

KARACHI: Investors of the Pakistan Stock Exchange (PSX) witnessed another jittery session on Thursday, as the indices shifted positions before helping the KSE-100 Index end slightly positive. Foreign investors ended as net buyers on Wednesday with a net inflow of $2.21 million. The benchmark KSE-100 Index slipped to its intraday low at 42,805.73 after losing 187.30 points. It then managed ... Read More »

Acting Chairperson Nausheen Javed Amjad appreciates services of Fazal Yazdani

ISLAMABAD: Federal Board of Revenue (FBR) Acting Chairman Nausheen Javed Amjad appreciated the services of retiring Member Legal & Accounting Customs Fazal Yazdani Khan. According to the details ,the Federal Board of Revenue (FBR) has acknowledged and appreciated the services of retiring Member Legal & Accounting Customs Fazal Yazdani Khan at the Board Council Meeting. All the members of FBR ... Read More »

5G technology at the doorstep of Pakistan

ISLAMABAD: Federal Minister for Science and Technology Fawad Chaudhry said Thursday that 5G technology is at the doorstep of Pakistan and it would become a big revolution, ARY News reported. Fawad Chaudhry, in his media statement, said 5G technology is slated to be introduced around the world which would a big revolution, whereas, the people will also witness major developments ... Read More »

KPT shipping intelligence report Jan 16

  KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Thursday. ALONG SIDE (Bulk Oil Pier) OP-II Tectus D. Mogas GAC 15/01/20 ALONG SIDE (East Wharves): 1 Chemroute Brilliant L. Ethanol East Wind 16/01/20 2 Oriental Marguerite L. Ethanol East Wind 15/01/20 10/11 Ksl Qingyang D. Gen.Cargo Sea Hawks ... Read More »

FBR starts crackdown against tax evaders

  ISLAMABAD: Federal Board of Revenue (FBR) directed field formation for the enforcement of systematic raids on tax evaders and non-compliant persons across the country. FBR Director-General I&I Inland Revenue Dr Bashirullah Khan said that “all field formations of the Intelligence and Investigation (I&I) Directorate have been instructed to come out of hibernation and freely combat the menace of tax ... Read More »

KSE-100 gains pace slowly

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday after a brief open in the negative recovered slowly, and the benchmark KSE-100 Share Index reached 43,126.85 points after gaining 133.82 or 0.31% at 11.39am. Selling pressure gained pace just before midday and profit-booking is likely to persist throughout the day. Earlier, the Index declined by 49.80 points or 0.12%, and hit ... Read More »

China keen to import edibles from Pakistan: Envoy

  ISLAMABAD: Chinese Ambassador to Pakistan Yao Jing Wednesday said China was keen to import meat, potato, onion, mango and cherry from Pakistan. He called on Federal Minister for National Food Security and Research Makhdoom Khusro Bakhtiar and expressed his confidence on him as former Minister for Planning and Development, viz a viz his contribution towards the expansion of phase-II ... Read More »

Global stocks get major boost as US, China sign ‘momentous’ trade deal

WASHINGTON: The United States and China signed a truce in their trade war on Wednesday after nearly two years of tensions, bringing relief to markets but largely leaving massive tariffs in place. The “phase one” deal is also a boon for Donald Trump as he faces an impeachment trial and a tough re-election fight this year, with the US president ... Read More »

ADC Preventive transfers 1 superintendent, 18 inspectors

  LAHORE: Collectorate of Customs (Enforcement and Compliance) Additional Collector Mohammad Saeed Wattoo issued orders for transfer and posting of following officers with immediate effect and until further orders:- Superintendent Riasat Ali Javaid from headquarters to recovery branch Inspector Muhammad Moazzam Khan from State Warehouse, TNB to ASO Inspector Waheed Iqbal Bhatti from Headquarters to I&P Inspector Abdul Rashid from ... Read More »

Hyundai-Nishat begins production of ‘Make in Pakistan’ truck

FAISALABAD: Hyundai Nishat Motor (Private) Limited has announced its mass production at the assembly plant in FIEDMC, M3 Industrial Estate. The plant has an annual production capacity of up to 15,000 units per annum in its initial phase, Hyundai’s manufacturing plant is now fully operational. The Start of Production takes place two years after the ground breaking in December 2017. ... Read More »