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Author Archives: CT Report

Pakistani businessmen should avail trade opportunities in Belgium: Envoy

RAWALPINDI: Belgium is Pakistan’s 5th largest trading partner within the European Union. The bilateral trade volume between the two countries has increased to 900 million euros. Pakistan is one of the key beneficiaries of the GSP Plus status that can help Pakistani businessmen avail themselves of trade opportunities in Belgium. These remarks were made by the ambassador of Belgium, Philippe ... Read More »

Compliance with FATF not to affect CDNS’ business

ISLAMABAD: Ministry of Finance has clarified a news report captioned as “National Savings and FATF” and published in the section of the press, saying that the contents of the news report as published by the media are likely to be misconstrued by the account holders and clients of the Central National Saving Scheme (CDNS). In an official statement, Finance Division ... Read More »

Govt takes exception to reporting on external borrowing data

ISLAMABAD: Ministry of Finance has taken a strong exception to a news report published in Daily Express Tribune and Daily Express insinuating and portraying a situation of clash between two government departments over the government’s foreign borrowing during July-Dec 2019 period. In an official statement, Finance Division spokesperson has described the reporting by both newspapers as being unethical and against ... Read More »

Compliance with FATF not to affect CDNS’ business

ISLAMABAD: Ministry of Finance has clarified a news report captioned as “National Savings and FATF” and published in the section of the press, saying that the contents of the news report as published by the media are likely to be misconstrued by the account holders and clients of the Central National Saving Scheme (CDNS). In an official statement, Finance Division ... Read More »

Gold price reaches Rs90,900 per tola

KARACHI: The gold prices on Saturday increased by Rs650 per tola and currently trading at Rs90,900 in the local market. Similarly, the rate of 10 grams of yellow metal also registered an increase of Rs558 and traded at Rs77,932. Meanwhile, gold prices in the global market increased by $13 to $1,572 per ounce. Earlier on January 24, gold rates in ... Read More »

Deflation of up to 0.55pc observed in present week

ISLAMABAD: According to weekly report of Bureau of Statistics, a deflation of 0.4 to 0.55 percent was observed during last week. According to report, price of nine commodities including flour, tomato, onion, potato, garlic and banana decreased. On the hand, price of 15 commodities increased in one week. According to details, inflation for the income group of Rs17000 increased by ... Read More »

FATF requirement: SECP to implement new brokers regime

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided in principle to implement a new regulation regime for stockbrokers despite strong opposition. The new regime includes multifold compliance requirements for brokers having custody of investors’ assets and the SECP board will take three to four more weeks to deliberate new regulations and their implementation. It has been learnt ... Read More »

FBR starts campaign against tax evaders & money launderers

ISLAMABAD: the Federal Board of Revenue (FBR) has kicked off a nationwide campaign against tax evaders and money launderers in to fulfill the requirements of the Financial Action Task Force (FATF). According to media, the campaign is being led by the newly appointed Director General Intelligence and Investigation (Inland Revenue) Dr Bashirullah Khan on the orders of FBR Chairman Shabbar ... Read More »

Ehsaas Digital payment system becomes operational

ISLAMABAD: Preparations are underway to give final touches to the launch of Ehsaas Kifalat programme which will be inaugurated by Prime Minister Imran Khan on January 31. The Ehsaas digital payment system is an important competent of Kifalat programme. Procurement of the system was completed in a transparent manner last year. Dr. Nishtar opened HBL’s biometric ATM in Islamabad, which ... Read More »

Pak Rupee remains stable against dollar in interbank market

KARACHI: The Pakistani rupee remained stable against the US dollar in the interbank currency market during the outgoing week. According to a weekly report, the local currency settled at 154.56 against the greenback. However, the rupee ended slightly weaker against the dollar in the open market, finishing at 155 against the last week’s closing of 154.80. It is to mention ... Read More »

Premature to speculate on FATF decision: Hammad Azhar

ISLAMABAD: Minister for Economic Affairs Hammad Azhar, who led a Pakistani delegation during three-day talks with the Financial Action Task Force (FATF) in Beijing, said on Saturday the government has worked “very hard” to get the country off the watchdog’s grey list. Taking to Twitter, he said: “It is premature to comment/ speculate on the decision that FATF members shall ... Read More »

Pakistan Stock Exchange lost 534 points during weekly trading

KARACHI: The Pakistan Stock Exchange (PSX) witnessed bearish trend as 100-Index lost 534 points during last week trading. The 100-Index was closed at the level of 42,633 points during the trading week which begun on Monday and ended on Friday. According to the weekly report, the market capitalization with the decrease of rs. 125 billion, last week and was recorded ... Read More »

Five dry ports will start operations by March: Sh Rasheed

LAHORE: Federal Minister for Railways Minister Sheikh Rasheed Ahmad said on Saturday that five closed dry ports would be restored by 1st March to facilitate traders and businessmen. Inaugurating a new freight container train at Mughlapura dry port, he said that Chishtian, Kundian, Sheikhupura, Jiabagga and Mughulpura dry ports would be made operational by March 1st which would increase economic ... Read More »

Govt rebuts news report regarding $5.5b foreign borrowing

ISLAMABAD: Ministry of Finance has described as misleading and factually incorrect a news reports published in a section of press claiming that the government’s foreign borrowing increased by $5.5 billion during July-Dec 2019 period. “The contentions of the report are not only misleading, but also against the national interest as the report sends erroneous signals to the markets, which can ... Read More »

Stocks gain 126 points in volatile session

KARACHI: Pakistan Stock Exchange (PSX) witnessed another volatile trading session on Friday, with the indices shifting sides before settling in the green. The benchmark KSE-100 Index recorded its one week return at -1.23pc. On the economic front, Pakistan’s liquid foreign exchange reserves increased by $147 million to $18,271 million (as on January 17, 2020). The reserves previously stood at $18,124 ... Read More »

Pakistan-China cooperation in textile sector to focus on readymade garments

ISLAMABAD: Pakistani and Chinese experts have agreed to develop a textile cooperation framework under China Pakistan Economic Cooperation by focusing on readymade garments, man-made fiber and textile skill training. It was expressed in a one-day workshop organized by the Board of Investment (BOI) to deliberate on a diagnostic study on Pakistan’s textile sector, conducted by the National Development and Reform ... Read More »

Govt to expedite loan disbursement under Kamyab Jawan Programme

LAHORE: The federal government has decided to expedite the process for distribution of loan cheques under the Prime Minister’s Kamyab Jawan Programme for youth development. PM’s Special Assitant on Youth Affairs Usman Dar has met Punjab Chief Minister Usman Buzdar today and discussed the distribution of loans across the province under the programme within 15 days over directives of PM ... Read More »

Dollar rises four paisa against Pak rupee in inter-bank market

KARACHI: The US dollar saw a four paisa appreciation in its value against the Pakistani rupee in the interbank market at the start of the day’s trading. According to forex dealers, the greenback appreciated by four paisa and is trading at 154.65 against the local currency. A day earlier, the dollar had risen nine paisa to 154.61 from 154.52 against ... Read More »

KPT shipping intelligence report Jan 24

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier) OP-II Khairpur D. Jet Oil Trans Maritime 24/01/20 ALONG SIDE (East Wharves): 1/2 Clearocean Mariam L. Naptha Alpine 19/01/20 2 Al Mahboobah D. Chemical Wilhelmsen 20/01/20 11/12 Maa Saleh Begum L. Clinkers Crystal Sea ... Read More »

Shares hold ground as China virus fears persist; euro hits seven-week low after ECB

TOKYO: Asian shares held their ground on Friday as trade slowed for the Lunar New Year, despite investors fears that a new coronavirus in China could spread faster as millions of people would be travelling over the week-long holiday. Markets had steadied overnight, as investors took some solace from the World Health Organisation labelling the outbreak an emergency for China, ... Read More »