Friday , March 5 2021
Breaking News
Home / Author Archives: CT Report

Author Archives: CT Report

MoIP proposes record Rs6.37b Ramzan relief package

ISLAMABAD: The incumbent government is going to introduce a mega relief package for the holy month of Ramzan this year. According to details, the Ministry of Industries & Production (MoIP) has proposed the Economic Coordination Committee (ECC) to approve a record Rs6.37 billion Ramzan relief package for 2021. Sources at MoIP said under the proposed relief package, to be offered ... Read More »

Flaws in tax system to be removed through reforms: PM Imran

ISLAMABAD: Prime Minister Imran Khan has said that flaws in tax system will be removed through reforms. He was chairing a meeting regarding tax reforms in Islamabad. The meeting was attended by Federal Ministers Makhdoom Khusro Bakhtiyar, Hafeez Sheikh , Asad Umar, Hammad Azhar; Advisers Abdul Razaq Dawood, Dr Ishrat Hussain as well as Special Assistants Dr Waqar Masood, Tabish ... Read More »

US dollar sold at Rs157.9 on March 5

KARACHI: The buying rate of the US dollar was Rs157.1, while its selling rate was Rs157.9 on Friday, March 5 at the opening of the currency market. Dealers said the local unit reversed some of the gains it made in the previous session, as political uncertainty outweighed the impact of positive developments on the economic front. Moreover, an increase in ... Read More »

PM Imran Khan okays cross-border yarn import

ISLAMABAD:  Prime Minister Imran Khan has approved the cross-border import of cotton yarn. Commerce Adviser Razak Dawood wrote on Twitter that PM Khan expressed his concern about the shortage and escalation of cotton yarn prices in the country during a meeting. Dawood said the premier gave instructions to take necessary measures, including cross-border trade of cotton yarn, to keep the ... Read More »

Asad Umar reviews work on Rawalpindi Ring Road

ISLAMABAD: Federal Minister for Planning Development and Special Initiatives Asad Umar chaired a meeting to review the work being done on the Rawalpindi Ring Road, the proposed Eastern by-pass and the waste management site for Rawalpindi-Islamabad here. The meeting was attended by Special Assistant to the Prime Minister for Capital Development Authority (CDA) Ali Nawaz Awan , MNA Raja Khuram ... Read More »

ECC likely to approve Rs114b subsidy for Power Division

ISLAMABAD: The federal cabinet’s Economic Coordination Committee (ECC) is likely to approve the allocation of Rs114.5 billion as technical supplementary grant (TSG) from the current financial year’s power subsidy budget to the Power Division. According to sources, out of Rs147 billion earmarked as power sector subsidy during FY21, an amount of around Rs32.50 billion has so far been disbursed. “Now ... Read More »

Foreign exchange reserves increase to $20.133b

KARACHI: The liquid foreign exchange reserves of the country increased by $91 million to $20.133 billion by week ended February 26, 2021, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves were at $20.042 billion by week ended February 19, 2021. The official foreign exchange reserves of the central bank were $12.978 billion by week ended February ... Read More »

Customs I&I recovers smuggled goods worth Rs80.11m from Bolton Market

KARACHI: Directorate of Customs Intelligence and Investigation has seized huge quantity of smuggled goods worth Rs80.11 million from Bolton market. Sources told Customs Today that Director Customs Intelligence and Investigation Khalil Yousafani received credible information that huge quantity of smuggled goods are dumped in Bolton Market near Youaf Plaza. Deputy Director Tauseef Gorchani constituted a team under the supervision of ... Read More »

Trade deficit widens to $17.3b in July – February

ISLAMABAD: Pakistan’s trade deficit widened by 9 percent or $17.3 billion during first eight months (July – February) 2020/2021 of the current fiscal due to surge in import bill for the period, according to provisional data released by the ministry of commerce. The trade deficit widened to 17.3 billion during first eight months of the current fiscal year as compared ... Read More »

CDNS receives Rs29b new investments

ISLAMABAD: Central Directorate of National Savings (CDNS) has received Rs29 billion new investments by February 28, through registered Premium Prize Bonds of Rs40,000 and Rs25000 introduced by the institution. The CDNS has introduced the new registered Premium Prize Bonds after the termination of both major Prize bonds of Rs40,000 and Rs25000. This initiative documentation of the country’s economy, senior official ... Read More »

Gold price declines Rs1900 to Rs104,200 per tola

ISLAMABAD: The price of 24 karat per tola gold decreased by Rs 1900 on Thursday and was sold at Rs 104,200. The price of ten gram 24 karat gold also decreased by Rs1629 and was traded at Rs89,335 The price of per tola silver decreased by Rs10 and was sold at Rs1350 against its sale at Rs1360 while that of ... Read More »

Quetta I&I seizes smuggled goods worth Rs79m during two IBOs

QUETTA: Directorate of Customs Intelligence and Investigation I(I&I) has seized huge quantity of smuggled goods during two Intelligence Based Operations (IBOs) and lodged two separate FIRs against accused persons. Sources told that Director Muhammad Ismail received credible information about smuggling of goods. He immediately directed Deputy Director Amjad Hussain Rajpar to enhance vigilance on the suspected routes. A team comprising ... Read More »

PSX witnesses bearish trend a day after Senate elections: Report

KARACHI: Senate outcome sent some shivering signals to investors where selling spree hit the deck wiping about 2 percent of 100 index where dozens of companies shares finished at low marks, dealers said. The KSE-100 index marked a bloodbath session today after the senate election results, where against odds the opposition party emerged victorious on the key senate seats. “Investors ... Read More »

PYMA urged govt to allow duty-free yarn import from India

KARACHI: Hanif Lakhany, Senior Vice Chairman Pakistan Yarn Merchants Association(PYMA) and Vice Chairman Farhan Ashrafi, has expressed deep concern over the unavailability of cotton yarn and the price reaching an all-time high, asked the government to immediately allow duty-free import of yarn & cotton from other countries, including India to save the textile industry from collapse and the export orders ... Read More »

Additional Collector Mahek Majid orders staff not to avail leave without approval

LAHORE: Collectorate of Customs Appraisement and Facilitation Additional Collector Mahek Majeed issued office order directing staff members not to any leave without prior approval from Competent Authority. The office order read as “it has been observed with great concern by the Competent Authority that the staff member of Customs Appraisement and Facilitation Lahore have been proceeded on leave without their ... Read More »

Cutlery exports increased 28.64pc

ISLAMABAD: Cutlery exports during first seven months of fiscal year 2020-21 grew by 28.64 per cent as compared to the exports of the corresponding period of last year. During the period from July 20 to January 21, cutlery worth US$ 70,307 thousand exported as compared to worth US$ 54,653 thousand of same period of last year. According the data released ... Read More »

Speakers at RCCI VITF urge to revive SAARC

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) organized Virtual International Trade Forum (Chapter SAARC) here. The purpose of the trade forum was to make the business community aware of trade and export opportunities in SAARC countries. The forum was attended by President Mohammad Nasir Mirza, Senior Vice President Osman Ashraf, Vice President Shahraiz A Malik, Chairman regional trade ... Read More »

FBR appoints Dr. M. Ali Khan as chairman of Benami Adjudicating Authority

ISLAMABAD: The government has appointed Dr. Muhammad Ali Khan as chairman of Benami Adjudicating Authority under the Benami Transactions (Prohibition) Act, 2017. The Federal Board of Revenue (FBR)  issued the notification for the posting. Dr. Muhammad Ali Khan, is a BS-22 officer of Inland Revenue Service (IRS) and was posted as Member (Admin Pool), FBR HQ Islamabad. The FBR also ... Read More »

Taxpayers to get active status after surcharge payment: FBR

ISLAMABAD: Federal Board of Revenue (FBR) advised late filers to pay surcharge to appear on the Active Taxpayers List (ATL) for tax year 2020. The FBR a day earlier issued the ATL for tax year 2020. The total number of active taxpayers for the tax year 2020 is 2.18 million. However, according to the FBR received 2.63 million income tax ... Read More »

PTA issues mobile device manufacturing regulations

ISLAMABAD: Pakistan Telecommunication Authority (PTA) has said it has issued Mobile Device Manufacturing (MDM) regulations and has started receiving applications for mobile device manufacturing. In a statement, PTA said that the implementation of the authority’s Device Identification, Registration and Blocking System (DRIBS) in 2019 had resulted in significant increase in legal import of mobile devices and establishment of over 33 ... Read More »