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Author Archives: CT Report

WCCI, TDAP to hold trade exhibition on March 4

PESHAWAR: Women Chamber of Commerce and Industry (WCCI) with collaboration of Trade Development Authority of Pakistan (TDAP) is going to hold a three-day third ‘Women Entrepreneurs Trade Exhibition’ at Peshawar Service Club from March 4. The decision was taken during a meeting between official of TDAP and women chamber. The meeting said that in the event women entrepreneurs from Peshawar, ... Read More »

Punjab Revenue Authority seals 33 shops

LAHORE: In order to recover sales tax in Gujranwala division, special teams of Punjab Revenue Authority (PRA), launched a drive and sealed 33 shops of local car dealers for avoiding sales tax on services sectors recently levied by the Punjab government. According to Additional Commissioner, PRA, Gujranwala Division Shafqat Rasul, all the defaulted car dealers were reluctant to pay sales tax despite repeated ... Read More »

ASO detains Rs 8m Land Cruiser, Surf, Corolla

LAHORE: Customs Preventive anti-smuggling team has seized three non-customs paid vehicles including Toyota Land Cruiser, one Toyata Surf and one Toyota Corolla. The ASO team on the instructions of Assistant Director Dr Adnan seized Land Cruiser from a show room at Shaukat Ali Road of Johar Town, Toyota Surf near High Court and Toyota Corolla at Mini Market Gulberg. Official ... Read More »

FBR asked to extend deadline for tax-amnesty scheme

LAHORE: Traders have asked Federal Board of Revenue to extend deadline of tax-amnesty scheme in order to ensure maximum benefit and help promote tax culture. “We wanted this scheme to cater for at least one million traders as even a thousand cannot be registered in 16 days,” said President All Pakistan Anjuman-i-Tajran (APAT) Ajmal Baloch. He demanded that the last ... Read More »

Mobile imports up by 10.39% to $433.276m in Jul-Jan

ISLAMABAD: Mobile phone imports in the country have reached US $ 433.276 million in current fiscal year (July-January), registering 10.39 percent increase as compared to same period last year. The imports of mobile phone were $392.493 million in same period last year, statistics of Pakistan Bureau of Statistics (PBS) showed on Sunday. The data said overall telecom imports saw a ... Read More »

Meat export boosting with 30% ratio

LAHORE: The meat export in Pakistan is growing with a ratio of 30 per cent every year which can be further grow up by proper processing. This was stated by Head of Meat and Nutrition of University of Veterinary and Animal Sciences (UVAS) Dr Muhammad Hayat Jaspal in an exclusive talk with APP here Sunday. He said despite top beef ... Read More »

Remittances to cross $20 billion mark

ISLAMABAD: Pakistan Overseas Employment Promoters Association (POEPA) on Sunday said workers remittances can cross the mark of dollar 20 billion in the ongoing fiscal year. “We are highly satisfied with the government and the initiatives of State Bank of Pakistan and other stakeholders which has led to continued growth in workers remittances despite global downturn and oil crisis”,  said Chairman ... Read More »

PTDC to introduce new national tourism policy

ISLAMABAD: With the help of tourism stakeholders, Pakistan Tourism Development Cooperation (PTDC) is working to introduce a new National Tourism Policy. PTDC is getting feedback from the tourism industry stakeholders to get input on the proposed National Tourism Policy on the after effects of devolution of tourism to provinces and the problems, issues being faced by the tourism industry currently ... Read More »

NHA attracts Rs 101b private sector investment

  ISLAMABAD: The National Highway Authority (NHA) has successfully attracted private sector investment and has awarded four projects worth over Rs 101 billion, which is more than average annual Foreign Direct Investment (FDI) in the country. NHA Chairman Shahid Ashraf Tarar said this has been ensured through dedicated efforts of NHA during the last one year. In an interview with ... Read More »

Railways leased out 1,556 acres in 2 years

  ISLAMABAD: Pakistan Railways has leased out 1,556 acre land in Punjab, Sindh and Khyber Pakhtunkhwa through fair and transparent method during last two years to earn more revenue. Pakistan Railways has collected an amount of Rs. 366.58 million from the leases so far, a senior official in the Ministry of Railways told APP. The land was leased out though ... Read More »

OGDCL spuds 8 new wells in six months

  ISLAMABAD: The state-owned exploration and production company-Oil and Gas Development Company Limited (OGDCL) is making tangible efforts to meet the country’s growing energy needs with spudding eight new wells during the half year ended December 31, 2015. According to an official source, these wells included two exploratory or appraisal wells and six development spuded during the same year. Elaborating, ... Read More »

Export managers accused of pushing country in ‘debt trap’

ISLAMABAD: The export managers have been accused of pushing country in ‘debt trap’ by failing to spur external trade. This was revealed by Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt on Sunday. Semi-qualified and outdated export managers are unaware of changing export trends and they are too much focused on politics, he said. Speaking to the business community, ... Read More »

E&T recovers Rs 6.15m from property tax defaulters

RAWALPINDI: The Excise and Taxation Department has launched a crackdown against property tax defaulters and recovered Rs 6.15 million from them, after selling at least 261 domestic and commercial buildings, including a bank’s branch. The operation against the defaulters was conducted in Satellite Town areas of Block A, B, C, E and F, Dhok Kashmirian, Khayaban-e-Sir Syed and Muslim Town. ... Read More »

Association shows concern over decrease in cotton yield

MULTAN: Central executive committee of Pakistan Cotton Ginners Association (PCGA) has expressed concern over decrease in cotton yield in the current season of 2015-16. In this regard, the 278th meeting, presided over by the chairman Shehzad Ali Khan, was held here Saturday. It chalked out recommendations followed by modus operandi to increase cotton crop production for the new cotton season. ... Read More »

Steel melters wants cut in sales tax on power bills to Rs 4

LAHORE: The government has been urged by the steel melting industry to reduce the general sales tax on the electricity bills from Rs9 per unit to Rs 4. The demand came from the chairman of Pakistan Steel Melters Association Mohammad Saeed, while addressing a press conference. He said the steel melting sector has a production capacity of 7.5 million tonnes ... Read More »

Govt not laying off employees: PIA

ISLAMABAD: The government has refuted the news item regarding laying off of PIA employees through a golden handshake scheme. According to the PIA spokesman, no such proposal is under consideration, nor has money been allocated for the purpose. “It is regrettable that such kind of rumours are being spread to create unnecessary unrest among the staff of the national airline, ... Read More »

Delay in trade policy causing uncertainty

LAHORE: Pakistan Industrial & Traders Association Front Chairman Irfan Iqbal Sheikh has asked the government to announce the trade policy without any further delay. He said that the delay is creating uncertainty and problems for the country’s industry and the export sector. Prime Minister Nawaz Sharif had promised to announce the Strategic Trade Policy Framework (STPF) package a few months back, ... Read More »

$956m loan taken from foreign banks during Jul-Jan

ISLAMABAD: The federal government took $956 million loans from the foreign commercial banks from July 2015 to January 2016. The government took loans from commercial banks, which it had budgeted to receive in the entire fiscal year (July 2015 to June 2016), at higher interest rate. Interestingly, Australia, EU, Italy, Norway, UNDP, Organization of the Petroleum Exporting Countries (Opec) and ... Read More »

Cotton spot rate remains Rs 5,300 per maund

KARACHI: The spot rate of cotton remained at Rs 5,300 per maund after Rs 50 per maund upward readjustment in order to provide support to weak stakeholders of raw grade to ward off minimal price level. Buyer made forward deals in fine grade to consolidate their long positions in lint market, traders at the Karachi Cotton Association (KCA) said. During ... Read More »

PM sends bull, cow as gift to Qatari Emir by C-130

ISLAMABAD: A C-130 aircraft has delivered a bull and a cow (Sahiwal breed) as a gift from Prime Minister Nawaz Sharif to the Emir of Qatar. According to sources, Pakistan International Airlines (PIA) will bear all the expenditures. The aircraft will return to Pakistan on 29th of February. The move comes a few days after the prime minister returned from ... Read More »