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Author Archives: CT Report

US dollar gains Rs0.11 in interbank against Pak Rupee

ISLAMABAD: The exchange rate of US dollar against Pakistani rupee bounced by Rs0.11 in interbank on Monday and was traded at Rs154.27 as compared to Rs154.16 of last trading day, State Bank of Pakistan (SBP) reported. The SBP further reported that in interbank the price of Euro appreciated by Rs0.17 and was traded at Rs167.37 against the last closing of ... Read More »

LHC seeks details of cases involving Chinese

LAHORE: The Lahore High Court has sought details of the cases pending before districts courts of Punjab province involving citizens and companies of China. In a letter to all district and sessions judges in the province, Director General of Directorate of District Judiciary Rehan Bashir said the LHC requires complete record of the cases relating to the Chinese citizens and ... Read More »

Clearance operation resumes after EPA clears Customs House: Wasif Memon

KARACHI: Customs clearance has been resumed after a briefed period of closure as Environment Protection Agency (EPA) cleared the Custom House Karachi from any threat owing to spread of toxic gas. Chief Collector Wasif Memonon Monday told media that all customs clearance operation had been resumed. He said that EPA had cleared the building and there was no threat detected. ... Read More »

KPT shipping intelligence report Feb 17

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier) OP-II Quetta D. Crude Oil PNSC 15/02/20 ALONG SIDE (East Wharves): 1 Oriental Sakura D. Base Oil East Wind 14/02/19 4 Da Cai Yun L. Mill Scale Crystal Sea14/02/20 10/11 Hercules D. Meal Alpine ... Read More »

FBR asks govt employees to file tax returns by Feb 28

ISLAMABAD: The Federal Board of Revenue (FBR) has asked all the federal ministries/divisions/ departments to ensure filing of income tax returns by all salaried employees or face prosecution. The FBR also requested the higher judiciary, including its officers and honorable judges, to file their tax returns. The FBR has found that so far more than 50 percent public sector employees ... Read More »

EU mulls over report to extend GSP Plus facility to Pakistan  

BRUSSELS: The Generalized System of Preferences Plus (GSP+) status given to Pakistan has come under discussion at the European Parliament on Monday as it reviews the country’s request to extend the facility. In February 2018, the European Union (EU) extended Pakistan’s Generalised System of Preferences plus (GSP-Plus) status after the European Parliament’s Committee on International Trade expressed satisfaction on the ... Read More »

Stock market stays in search of direction

KARACHI: The stock market remains in search of positive triggers on Monday as not much progression could be seen at the benchmark KSE-100 Share Index that dropped 142.98 points or 0.36pc as of 11.19am. The Index reached 40,100.28 as potential investors continue to react to the impact of the coronavirus outbreak hurting imports and other factors. The Index opened at ... Read More »

Govt rejects speculations on IMF review

ISLAMABAD: The Ministry of Finance has described as misleading and factually incorrect a news item published in a section of the press suggesting that tough prior actions [are] needed for IMF’s $452 million third tranche. In an official statement issued here, the Ministry of Finance has stated that it is completely normal for quarterly reviews to sometimes take a few ... Read More »

KPT rejects reports regarding toxic gas leakage from port area

KARACHI: Karachi Port Trust (KPT) has clarified new reports about leakage of toxic gas from inside port area. KPT spokesman in a statement on late Sunday night said that there has been no leakage of chemical or gases inside the KPT port area and from any berthed vessel/ship. “All safety precautions remain applied while handling POL or chemicals from ships ... Read More »

Investors keen to invest in Allama Iqbal Industrial City

FAISALABAD: Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq has said the government is working on multiple fronts to enter into new markets in order to boost exports in post-Brexit scenario. Talking to a delegation, he said foreign investors are keen to invest in Allama Iqbal Industrial City in Faisalabad, a prioritised Special Economic Zone under ... Read More »

Customs House closed after poisonous gas faints 4 people

KARACHI: The Customs House was closed on Monday after four people fell unconscious there while dozens started vomiting as a result of a “mysterious gas leak” in the Kemari port area of the metropolitan, according to Karachi Customs Agents Association. The Customs authorities said employees have been given leave since air quality is not good. At least five people were ... Read More »

Hafeez Shaikh stresses upon need to adopt technological change in business sector

KARACHI: Advisor to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh said that increasing exports remain the top priority of the incumbent government and business graduates should play their role in increasing the capacity of the government. Addressing the Deans and Directors Conference 2020, Hafeez Shaikh said that the economy is coming out of the crisis situation and it’s ... Read More »

Australia to provide Pakistan $1.2m grant for uplift of rural areas

ISLAMABAD: Australian government will provide Pakistan 1.2 million Australian dollar grant for uplift of rural areas. According to a statement issued by the ministry, Economic Affairs Division Acting Secretary Ahmad Hanif Orakzai and Australian Center for International Agriculture Research (ACIAR) Chief Executive Officer Professor Andrew Campbell signed a memorandum of subsidiary agreement on “understanding the drivers of successful and inclusive ... Read More »

LTU posts 15pc growth during seven months of FY20

KARACHI: Large Taxpayers Unit (LTU) Karachi has registered 15 percent growth in revenue collection during first seven months of current fiscal year, a statement said on Monday. The LTU Karachi said that it had collected Rs796 billion during July – January 2019/2020 as compared with Rs690 billion in the corresponding period of the last fiscal year. The unit collected Rs108 ... Read More »

Gold rates continue to climb in local, international markets

KARACHI: Gold ascends in the local markets on Saturday with the per tola price of the precious metal registering at Rs90,900 with a Rs100 appreciation. 10 grams worth of gold also climbed Rs 86 with the overall worth for 10 grams stabilising at Rs 77,932. International markets also saw a sizeable upsurge in the price of the golden metal, recording ... Read More »

UK to extend full support for youth development in Pakistan: Christian Turner

  SIALKOT: -British High Commissioner in Pakistan Dr. Christian Turner has assured his full cooperation , support and assistance for the youth development in Pakistan. He stated this during his meeting with Usman Dar (Special Assistant to Prime Minister on Youth Affairs) at his residence Jinnah House Sialkot here today. British High Commissioner Dr. Christian Turner discussed in details the ... Read More »

Africa likely to use Gwadar Port to have access to CARs, China: Razak Dawood

ISLAMABAD: Africa having 54 countries in it and population of 1.2 billion people with the size of economy at $2.4 trillion has positively indicated to using CPEC (China-Pakistan Economic Corridor) and Gwadar Port to ensure access for its products to the markets of Central Asian Republics (CARs) and China. And more importantly Africa has also shown its willingness to start ... Read More »

Pakistan-Turkey sign MoU to enhance cooperation on trade & customs

ISLAMABAD: A Memorandum of Understanding (MoU) has been signed between the Ministry of Trade of the Republic of Turkey and Federal Board of Revenue on trade facilitation and customs cooperation matters in Prime Minister House. The MoU was signed by the Turkish Minister of Trade, Ms Ruhsar Peckan, and the Adviser to Prime Minister on Finance and Revenue, Abdul Hafeez ... Read More »

US stocks mixed over fear of China virus

NEW YORK: US stocks posted mixed results on Friday, capping a week that saw all indices hit records then recede before bounding back amid fears over the new coronavirus outbreak. Wall Street has been eyeing the outbreak in China that has spread widely, infecting nearly 64,000 people and killing almost 1,400, raising fears of a sustained disruption of the global ... Read More »

Money laundering case: NAB Lahore raids Sharif family’s company offices

LAHORE: The National Accountability Bureau (NAB) Lahore Saturday raided Sharif family’s company offices in money laundering case and seized computers and other important record, sources familiar to the matter informed media. According to details, the raids were conducted at the offices of Salman Shahbaz and Muhammad Usman. Furthermore, documents were confiscated from the office of the chief financial officer of ... Read More »