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Author Archives: CT Report

KCCI appreciates US & UK’s decision to ease travel advisory for Pakistan

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan, while warmly welcoming United States and United Kingdom’s decision to ease their travel advisory for Pakistan, said that the Karachi Chamber has been widely demanding relaxation in travel advisory and it was really heartening to see that the travel advisories have finally been eased by both these ... Read More »

SHC halts demolition of Karachi’s historic Metropole Hotel

KARACHI: The Sindh High Court (SHC) on Thursday halted the demolition of Karachi’s historic Metropole Hotel located near the Shahrah-e-Faisal. The SHC judge presided the hearing on the petition of advocate Muhammad Kamran Sher. The petition has made the various officials respondents in the case. The petitioner maintained that they have their shops inside the Metropole Hotel and the administration ... Read More »

RCCI 2nd Smart Technology Expo ends on a high note

RAWALPINDI: The second smart technology exhibition organized by the Rawalpindi Chamber of Commerce and Industry (RCCI) ended on a high note. The main purpose of the exhibition was to highlight the problems faced by IT companies and find solutions for it. Also bringing awareness among business community about the latest trends and the use of modern technology to promote trade. ... Read More »

KCCI to hold meeting of ports, shipping & multi-model transport body on Feb 8

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) will hold the first meeting of ports, shipping & multi model transport sub-committee on February 8, 2020 at 3:30 p.m. at KCCI. According to schedule issued by Deputy Secretary KCCI Mukhtar Ibrahim, the meeting will be started with the recitation of the Holy Quran. Chairman of Ports, Shipping & Multi Modal Transport ... Read More »

Moody’s report underpins stable outlook for Pakistan banking system

ISLAMABAD: Moody’s Investors Service has said in its new report that robust funding, high liquidity and close links with the sovereign underpin its stable outlook for the Pakistan banking system over the next 12-18 months. “The sovereign credit profile has improved in recent months, benefiting the banks through their high exposure to government securities, which account for around 40% of ... Read More »

New LPG policy likely to be introduced soon

ISLAMABAD: The government is likely to introduce a new LPG policy in a bid to slash taxes on imported LPG, marketing and distribution margins, local media reported on Thursday. The new policy will link locally produced LPG with 90 percent of Saudi Aramco contract price (CP). On January 1, 2019, the LPG Pricing Committee held a meeting and the Petroleum ... Read More »

2 sub-committees of traders, exporters formed for talks with FBR

LAHORE: A parliamentary committee has formed two sub-committees of traders and exporters to talk with Federal Board of Revenue on CNIC condition and tax refunds issues. The National Assembly Standing Committee on Finance, Revenue and Economic Affair, which met under the chair of Faiz Ullah, MNA, has discussed the problems being faced to exporters due to delay in releasing of ... Read More »

Opec to mull output cuts over virus outbreak

VIENNA: Delegates from the Opec club of oil-producing countries — as well as their ally Russia — began a meeting at the organisation’s headquarters in Vienna on Tuesday to discuss their reaction to China’s coronavirus epidemic and its impact on global demand. Crude prices have tumbled since the deadly outbreak in the world’s second-biggest economy, which is a huge consumer ... Read More »

CPEC phase-II will generate employment opportunities: Gen (r) Asim Bajwa

QUETTA: CPEC Authority Chairman Lt Gen (r) Asim Saleem Bajwa has said that after successful completion of phase one, the country is gearing up for the phase-II of the multi-billion dollar China-Pakistan Economic Corridor project, envisioned to generate massive employment opportunities for Pakistanis. Asim Bajwa, tweeting from his fresh Twitter handle for the first time, said the CPEC project with ... Read More »

Iranian envoy, Hafeez Shaikh discuss ways to enhance trade ties

ISLAMABAD: Iranian ambassador to Pakistan Syed Muhammad Ali Hosseini called on Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh. Matters of mutual interest, bilateral cooperation, trade, investment, regional peace and other issues were discussed in the meeting. On the occasion, Hafeez Shaikh said that Pakistan desired to further enhance the volume of bilateral trade between the two neighboring ... Read More »

FBR refutes statements on economic team-IMF talks, says process ongoing 

ISLAMABAD: Federal Board of Revenue (FBR) spokesman on Wednesday denied giving any inputs to media regarding the ongoing talks between the government’s economic team with the International Monetary Fund (IMF) delegation visiting Pakistan. According to the spokesman, the talks between the two sides are ongoing for the release of the third tranche of the US$ 6 billion bailout package. “The ... Read More »

FPCCI opposes proposed increase in gas price

ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Anjum Nisar strongly criticized the move to increase gas prices and urged Prime Minister Imran Khan to immediately stop the implementation of the proposal. FPCCI President Mian Anjum Nisar in a statement said that the proposal of the Ministry of Petroleum would seriously affect the industrial sector, especially ... Read More »

Brokers’ community proposes revision in ‘new broker regime’

KARACHI: The Stock Market Reforms Committee, set up by the Securities and Exchange Commission of Pakistan (SECP) to prepare ‘New Brokers Regime’ (NBR), said that SECP did not fully implement its recommendations and some of the quantitative and qualitative criteria have been diluted to accommodate some practical concerns of the market participants, said a Committee’s statement here on Tuesday. It ... Read More »

Japan donates ten coronavirus testing kits to Pakistan

ISLAMABAD: The Government of Japan has donated ten coronavirus testing kits to Pakistan. Sources told that Japan’s embassy in Islamabad handed the kits over to officials of the National Institute of Health (NIH). The kits were made available on a request by the Government of Pakistan. Each testing kit costs US$2,000. Earlier, on Sunday, Special Assistant to Prime Minister (SAPM) ... Read More »

Appraisement & Facilitation East redistributes work among principal appraisers, appraisers

KARACHI: Collectorate of Customs Appraisement & Facilitation East Deputy Collector Muhammad Arslan Majeed Rana issued office order for redistribution of work among principal appraisers and appraisers with immediate effect and until further orders:- According to office order no: 08/2019 (East) Principal Appraiser Abdul Qayyum will also look after from Group-V, PRV to Group-VIII, PRV Principal Appraiser Najamul Hassan Jamali will ... Read More »

SBP auctions investment bonds worth over Rs59b

KARACHI: State Bank of Pakistan (SBP) has sold out Pakistan Investment Bonds (PIBs) for 3, 5 and 10-year tenor during an auction held on Tuesday. The auction was organised by Domestic Markets and Monetary Management Department of the central bank today which settled the coupon rates for 3, 5 and 10-year tenor bonds up to 9.0 per cent, 9.5 per ... Read More »

Govt releases Rs 429.17b for development projects

ISLAMABAD: The Federal government has so far authorized release of Rs 429.17 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs 701 billion. Under its development programme, the government has released an amount of Rs190.87 billion for federal ministries, Rs136.68 billion for corporations and ... Read More »

Govt tables tax laws amendment bill in Senate

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government presented draft regulations of money bill and Tax Laws Amendment Bill, 2020, in the Senate session on Tuesday. Federal Minister for Parliamentary Affairs Azam Swati presented the bills in the session, drawing criticism from the opposition benches. Raja Zafarul Haq objected over the procedure for presenting bills in the upper house and said that ... Read More »

NESPAK acquires 87 projects worth Rs 11.14b

LAHORE: National Engineering Services Pakistan (NESPAK) has made record business during fiscal year 2018-19 by acquiring 87 new projects worth Rs 11.14 billion showing an increase of 11 per cent when compared with Rs. 10.07 billion projects of FY 2017-18. NESPAK Managing Director Dr. Tahir Masood told media here that out of these 87 projects, 76 were domestic and 11 ... Read More »

Pakistan’s economy strengthening & improving: Hammad Azhar

ISLAMABAD: Federal Minister for Economic Affairs Hammad Azhar on Tuesday took to Twitter to hit back at criticism of the PTI government’s economic policies. Responding to a tweet by a journalist who slammed the country’s low GDP growth rate of 2.8, he questioned: “If it was so simple than why Moody’s downgraded Pak economy when it was growing at 5% ... Read More »