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Author Archives: CT Report

Pak-Turk bilateral cooperation: Blue Economy Sector will touch new heights in Year 2020

ISLAMABAD: Turkish delegation lead by Transport and Infrastructure Minister Cahit Turhan and Federal Minister for Maritime Affairs Ali Zaidi accompanied by Secretary, Maritime Affairs Rizwan Ahmed, Additional Secretary Nadir Mumtaz Waraich and Joint Secretary Kamran Faroq Ansari held the first delegation level meeting as a part of the historic visit of Turkish President Recep Tayyab Erdogan here. During the meeting ... Read More »

LCCI welcomes Turkish President’s historic visit to Pakistan

LAHORE: The Lahore Chamber of Commerce & Industry, while welcoming the historic visit of Turkish President Recep Tayyip Erdogan to Pakistan, has hoped that it would prove to be another milestone in further cementing the bilateral ties and cooperation between the two countries in diverse fields. In a statement, the LCCI President Irfan Iqbal Sheikh said that the great Turkey ... Read More »

Govt’s spending witness increase in six months of 2019-20

ISLAMABAD: The finance ministry on Friday issued a detailed six-month report of the first half of the ongoing fiscal year 2019-20 showing an improvement in the revenue collection and expenditures incurred as compared to the same period of the past fiscal year, ARY NEWS reported. According to the details, the fiscal deficit remained at 2.3 percent of the gross domestic ... Read More »

Railways to run shuttle train service between Lahore-Gujranwala

ISLAMABAD: The Pakistan Railways on Friday announced to introduce a new shuttle train service between Lahore and Gujranwala. According to a railway spokesperson, the shuttle train service being launched on the directives of Federal Minister for Railways Sheikh Rasheed. The fare of the shuttle service will be Rs100, he said in a statement. It must be noted that last month, ... Read More »

Railways to run shuttle train service between Lahore-Gujranwala

ISLAMABAD: The Pakistan Railways on Friday announced to introduce a new shuttle train service between Lahore and Gujranwala. According to a railway spokesperson, the shuttle train service being launched on the directives of Federal Minister for Railways Sheikh Rasheed. The fare of the shuttle service will be Rs100, he said in a statement. It must be noted that last month, ... Read More »

Asian shares tick up, aim for second week of gains amid virus scare

TOKYO: Asian shares edged up on Friday, on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked up 0.3%, led by gains in Hong Kong .MIHK00000PUS and South Korea .MIKR00000PUS. On the ... Read More »

Collector Preventive Fayyaz Anwar assumes charge

MULTAN: Newly transferred Collector Fayyaz Anwar has assumed the charge of his responsibilities at Collectorate of Customs Preventive. According to details, Federal Board of Revenue (FBR) has transferred BS-20 Officer Fayyaz Anwar to Collectorate of Customs Preventive Multan few days ago. He has been transferred to Multan in place of Collector Muhammad Saleem. Collector Muhammad Saleem has been transferred to ... Read More »

Power division claims drop in monthly circular debt to Rs 15b

ISLAMABAD: Power division on Friday announced that the incumbent government’s capping plan on circular debt has bear fruit as the monthly rise in the debt that was once Rs 38 billion has drastically dropped down to at most Rs 15 billion. According to a statement issued by the power division spokesman, in September 2018, the circular debt stood at Rs1.33 ... Read More »

EOBI increases pension money from Rs5250 to Rs8500 per month

ISLAMABAD: Employees’ Old- Age Benefits Institution (EOBI) on Friday has said that the present government has raised the pension amount from Rs 5250 per month to Rs 8500 per month, an increase of almost 62 percent. The amount earlier was raised in September 2018 from Rs 5250 to Rs 6500 per month and later in December 2019. from Rs6500 to ... Read More »

Iraq to reopen Consulate in Karachi very soon: Charge d’ Affaires

KARACHI: In response to Karachi Chamber’s concerns expressed over the closure of Iraqi Consulate in Karachi, Charge d’ Affaires at the Embassy of Iraq in Pakistan Abdulsalam Saddam Mohaisen informed that Iraq is looking forward to reopen its Consulate in Karachi very soon which will be providing all visa related services to the citizens of the port city. Exchanging views ... Read More »

Rs3b tax refunds made during February 2020:  FBR  

ISLAMABAD: Federal Board of Revenue (FBR) officials on Thursday said that the tax refunds of over Rs3 billion have been made during the month of February 2020. The FBR officials said this while briefing the members of the National Assembly (NA) standing committee on Finance on tax refund matters. “These are the refunds from the month of December,” they said ... Read More »

Gold price gains Rs300, traded at Rs90,650 per tola

ISLAMABAD: The per tola price of 24 karat gold appreciated by Rs300 on Thursday and was traded at Rs90,650 as compared to Rs90,350 on last trading day, Karachi Sarafa Association reported. Likewise, the price of 10 gram gold witnessed increased of Rs257 and was traded at Rs77,718 against last closing of Rs77,461. The price of silver remained stable and was ... Read More »

Pak-Turkey business to business networking session held

ISLAMABAD: The Ministry of Commerce organized, Pakistan-Turkey Business to Business, Networking session during the visit of Turkish President Recep Tayyip Erdogan here. The objective of this initiative was to bring the businessmen from Turkey and Pakistan under one roof to explore ways to enhance trade and investment, said a press release issued by Ministry of Commerce. The Turkish Business delegation ... Read More »

PSX KSE-100 finishes in red, retreats 75 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed a jittery session on Thursday, as the indices kept changing directions throughout the day before closing slightly negative. Foreign investors closed the preceding session (Wednesday) as net sellers, with a net outflow of $4.92 million. Major selling was witnessed in the banking ($1.47 million) and oil & gas exploration ($1.95 million) sectors. On the ... Read More »

Pak Rupee ends flat in range bound trading

KARACHI: The Pak Rupee ended flat against dollar on Thursday owing to a range bound trading activity, forex dealers said. The rupee ended 154.38 to the dollar from previous day’s closing of Rs154.37 in interbank foreign exchange market. The dealers said that the market witnessed lackluster demand for dollars from importers and corporate buyers. Further, the inflows of export receipts ... Read More »

FBR to enhance values of immovable properties to curb money laundering

ISLAMABAD: Federal Board of Revenue (FBR) may enhance valuation of immovable properties in order to curb money laundering in the real estate sector. The sources in FBR said that considering the lower valuation set by the FBR as compared with open market valuation, the FBR values may be enhanced further in future. Considering the real estate sector as parking lot ... Read More »

Tokyo stocks down with markets nervous on virus impact

TOKYO: Tokyo stocks closed lower on Thursday as another spike in the death toll from new coronavirus in hard-hit Hubei province weighed on market sentiment. The benchmark Nikkei 225 index slipped 0.14 percent, or 33.48 points, to 23,827.73, while the broader Topix index was down 0.34 percent, or 5.84 points, at 1,713.08. Chinese authorities said the number of fatalities and ... Read More »

RTO issues 63011 sales tax registration notices to LESCO & SNGPL consumers

LAHORE: The Regional Tax Office-II, Lahore has issued 63011 sales tax registration letters/notices to industrial and commercial connection holders of LESCO and SNGPL. Chief Commissioner, RTO-II, Lahore Ahmad Shuja Khan said that influx of new sales tax registrations by employing LESCO and SNGPL data is the prime objective. The department will proceed to disconnections of utilities in case of non-compliant ... Read More »

FBR detects benami property in Umerkot

ISLAMABAD: Federal Bureau of Revenue (FBR) on Thursday launched crackdown against benami (undeclared) properties in Sindh’s Umerkot district. According to the tax collection authority, FBR launched a crackdown in Sindh’s Umerkot and confiscated property having a total area of 1,011 acres and owned by four persons, namely Lalo Mal, ML Gandhi, TL Gandhi and KL Gandhi. The FBR sources said ... Read More »

KPT shipping intelligence report Feb 13

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-I Gulf Petroleum 4 D. Jet Oil Alpine 12/02/20 OP-II Lahore D. Crude Oil PNSC 12/02/20 ALONG SIDE (East Wharves): 2 Sea King D. Jet Oil East Wind 09/02/20 11/12 Mandarin River L. Clinkers Crystal ... Read More »