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Author Archives: CT Report

Amanat Holdings posts $13m net profit

ABU DHABI: Amanat Holdings, a leading integrated healthcare and education company, has posted a net profit of Dh50.6 million ($13.7 million) for the period since its inception in November 2014 to December 31 last year. Its income totalled to Dh89.6 million, comprised mainly of Dh57.3 million of gain and dividends from Al Noor Hospitals Group and an Dh32.3 million in ... Read More »

Secretary (IJP) Fazal-e-Subhan relinquishes charge

ISLAMABAD: Fazal-e-Subhan, a BS-19 officer of Inland Revenue Service, Thursday relinquished the charge of the post of Secretary (IJP), Federal Board of Revenue (HQ). The officer relinquished the charge of the post of Secretary (IJP), FBR (HQ), Islamabad pursuing the Board’s Notification No. 0664-IR-I/2016, dated 09.03.2016. Read More »

Italy confirms interest in Greece’s Trainose

ROME: Italy’s state rail company is considering bidding for Greece’s rail network Trainose, a spokesman for Ferrovie dello Stato said on Wednesday. “We are studying the dossier but it’s still in a preliminary phase,” the spokesman told Reuters. Italy plans to privatize its national rail services to help reduce public debt though it is not clear yet if the sale will ... Read More »

Commissioner-IR Aiysha Khalid relinquishes charge

ISLAMABAD: Aiysha Khalid, a BS-20 officer of Inland Revenue Service, has relinquished the charge of the post of Commissioner-IR (Zone-I), Large Taxpayers Unit. The officer, in pursuance of Cabinet Secretariat, Establishment Division, Islamabad’s Notification No. 34/07//2015-E-I, dated 08.03.2016, relinquished the charge of the post of Commissioner-IR (Zone-I), Large Taxpayers Unit, Islamabad, with effect from March 14. Read More »

Two Assist Commissioners-IR take charge

ISLAMABAD: Two Inland Revenue Service officers of BS-17 have assumed charge as Assistant Commissioners-IR in Sialkot. Hammad Hussain Jaffari, in pursuance of Board’s Notification No.3054-IR-V/2015 dated 28-12-2015, assumed the charge of the post of Assistant Commissioner-IR, RTO, Sialkot, on January 01. Muhammad Qamar Minhas, pursuing the Board’s Notification No.3054-IR-V/2016 dated 28-12-2016, took the charge of the post of Assistant Commissioner-IR, ... Read More »

Indonesia asks France to scrap additional tax on palm oil imports

PARIS: Efforts made by the Indonesian government to convince France not to impose a progressive tax on imports of crude palm oil (CPO) and its derivatives have had some success. According to the latest stories, French authorities agree to cut the proposed additional import tax from 300 euro to 90 euro per ton. Earlier, on 21 January 2016, France approved ... Read More »

Chief (OPS) Sajidullah relinquishes charge

ISLAMABAD: Sajidullah Siddiqui, a BS-19 officer of Inland Revenue Service, has relinquished the charge of the post of Chief (OPS) (Legal-II), Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0695-IR-I/2016, dated 14.03.2016, relinquished the charge of the post of Chief (OPS) (Legal-II), FBR (HQ), Islamabad, with effect from March 15. Read More »

Swiss end subsidies of farm exports to poorest nations

GENEVA: The cabinet has decided to end subsidies for farm exports to the least developed countries, in keeping with a World Trade Organization (WTO) agreement last year to end direct export subsidies on farm produce. At its meeting on Friday, the cabinet approved an amendment to the ordinance on Swiss export contributions. International trade law considers such contributions – part ... Read More »

PCA Addl Director Wani’s performance allowance restored

ISLAMABAD: Performance allowance in respect of Moin-Ud-Din Ahmad Wani, a BS-19 officer of Pakistan Customs Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Additional Director, Directorate General of Post Clearance Audit (PCA), Islamabad, has been restored with effect from February 02. Read More »

Ireland returns five containers of beans exported from Nigeria

DUBLIN: Five containers of beans exported from Nigeria to the Republic of Ireland have been rejected and returned by the importers after the products were received with heaps of weeviles. Currently, exportation of beans from Nigeria is banned by the European Union, but it is not clear when the rejected product was exported. Nigerian producers will resume exportation of beans ... Read More »

Chief Riffat A Hassan retires

ISLAMABAD: Riffat A Hassan Abidi, a Pakistan Customs Service officer of BS-20, has retired from the government service on attaining the age of superannuation. The officer, last posted as Chief, Federal Board of Revenue (HQ), Islamabad, stood retired from the government service with effect from February 21. Meanwhile, Badar-ud-Din, a BS-16 Officer of Customs Department, presently posted as Deputy Superintendent, ... Read More »

Valeant takes a 50% plunge

OTTAWA: Canadian drugmaker Valeant Pharmaceuticals International Inc’s share price plunged nearly 50 percent on Tuesday after it warned it was at risk of a debt default and slashed its earnings forecast. Valeant, already under fire for its pricing and accounting practices, said in a securities filing that bondholders can deliver a notice of default if the drugmaker fails to submit ... Read More »

Assist Commissioner Rafiq to retire on June 17

ISLAMABAD: Muhammad Rafiq Shad, a BS-17 officer of Inland Revenue Service, is going to retire from the government service on attaining the age of superannuation. The officer, presently posted as Assistant Commissioner, Regional Tax Office-II, Lahore, will stand retired from the government service with effect from June 17. Read More »

Four Customs Inspectors to retire

ISLAMABAD: Four Pakistan Customs Service Inspectors (BS-16) are going to retire from the government service on attaining the age of superannuation. Qadir Khan, presently posted at Model Customs Collectorate, Quetta, will stand retired from Government Service with effect from April 06. Hawas Khan, presently posted at Model Customs Collectorate, Peshawar, will stand retired with effect from April 19. Mujeeb Khan, ... Read More »

Tsai urged to review China trade pact

TAIPEI: Industrial heavyweights yesterday urged the incoming government to maintain cross-strait rapprochement and facilitate a review of the service trade agreement with China to help boost the competitiveness of Taiwanese exports. “All eyes will be on president-elect Tsai Ing-wen during her inauguration speech on May 20, and she needs political prowess and delicacy when setting the tone for her leadership ... Read More »

Govt aware of agri sector’s issues: Shahbaz

LAHORE: Chief Minister Shahbaz Sharif has said the government is fully aware of the difficulties being faced by agriculture sector. “All out measures will be adopted to protect farmers and cultivators from the problems due to recession at international level in agri sector,” the chief minister said while addressing a meeting. The chief minister with a view of addressing problems ... Read More »

Milaha’s AGM approves 50% cash dividend

DOHA: Qatar Navigation (Milaha) yesterday held its Annual General Meeting (AGM) and ratified all the items on agenda of the meeting, including Board’s recommendation to distribute a 50 percent cash dividend to its shareholders, which is equivalent to QR5 per share. The process of dividend distribution will commence from March 23 through Qatar National Bank (QNB) branches. QNB has been ... Read More »

PE Ukraine imports rise 36% in Jan-Feb 2016

MOSCOW: Total imports of polyethylene (PE) into Ukraine increased to 38,900 tonnes in the first two months of 2015, up 36% year on year, according to MRCDataScope on Wednesday. The greatest increase in demand occurred for high density polyethylene (HDPE) and the smallest for linear low density polyethylene (LLDPE). Structure of PE imports over the reported period was as follows. February ... Read More »

Cut in CNG prices: LTC reduces urban public transport fares by 11%

LAHORE: The Lahore Transport Company (LTC) has reduced the urban public transport fares to about 11 percent after recent reduction in CNG prices. LTC has reduced the intra city fares of air-conditioned CNG buses on various urban routes from Rs 3 to Rs 5 with respect to the distance. In accordance with the notification, first stage (1 to 4km) would ... Read More »

Senate body on finance chairman calls for closure of TDAP

ISLAMABAD: Senate Standing Committee on Finance Chairman Senator Saleem Mandviwalla has called for closure of Trade Development Authority of Pakistan (TDAP), a national body responsible for promoting exports, saying, the body has become a non-functional, failed and useless body and burden on exchequer. Senator Mandviwalla, who is also board member of TDAP, criticised the performance of TDAP, which has failed ... Read More »