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Author Archives: CT Report

FBR transfers 35 Inland Revenue officers of BS 19-20

ISLAMABAD: Federal Board of Revenue has transferred/posted 35 Inland Revenue officers of BS 19-20 with immediate effect and until further orders. According to the notification, the officers who are drawing performance allowance prior to issuance of this notification will continue to draw this allowance on the new place of posting. All the officers have been directed to relinquish/assume charge, using ... Read More »

54 Inland Revenue officers of BS 18-19 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted 54 Inland Revenue officers of BS 18-19 with immediate effect and until further orders. According to the notification, the officers who are drawing performance allowance prior to issuance of this notification will continue to draw this allowance on the new place of posting. All the officers have been directed to relinquish/assume charge, using ... Read More »

63 Inland Revenue officers of BS 17-18 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted 63 Inland Revenue officers of BS 17-18 with immediate effect and until further orders. According to the notification, the officers who are drawing performance allowance prior to issuance of this notification will continue to draw this allowance on the new place of posting. All the officers have been directed to relinquish/assume charge, using ... Read More »

Addl Collector Zeba Bashir changes name to Zeba Azhar

ISLAMABAD: The name of Zeba Bashir Ahmed, a Pakistan Customs Service officer of BS-19, has been changed to Zeba Azhar. The officer is presently posted as Additional Collector, Model Customs Collectorate of Appraisement (West), Karachi. The above change may be made in the relevant record, said a notification issued by Federal Board of Revenue. Read More »

Pak delegation to visit Uganda in search of business market

LAHORE: PakTurk Businessmen Association (PTBA) secretary General Aslam Bhatti has said that a 20-member business delegation will soon visit Kampala, Uganda. Bhatti, who is also the trip organiser, stated that the aim of this trip is to search an alternative market for Pakistani made products to introduce in African market. The trip invitation was extended by the government of the ... Read More »

$36b out of $46b CPEC project to be used in energy sector: Ahsan

ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has said that around $36 billion out of total $46 billion China-Pakistan Economic Corridor would be invested in the energy sector by private companies of China. Talking to a private news channel, he said the government was ensuring conducive economic environment in the country, which was vital for sustained foreign investment. ... Read More »

Pak, Canada can boost trade to $2b in short span

LAHORE: A delegation of Legislative Assembly of Ontario, Canada, led by Patrick Brown, has called on All Pakistan Business Forum President Ibrahim Qureshi and discussed ways to boost trade ties between the two countries. Patrick Brown said that Pakistan and Canada can get mutual benefit through cooperation in energy, fertilizer, education and agriculture fields and a little sector-specific effort could ... Read More »

Sugar price hiked by Rs8/kg in a month

LAHORE: The sugar price increased by Rs8 per kilogramme during a month after the government’s decision of exporting 500,000 tons of sugar last month. The sugar of said amount would be exported in a phased manner till March 31, 2016. Meanwhile, sugar has seen Rs 5 per kg hike in the last two weeks in the Sindh metropolis, Karachi. In ... Read More »

Marvi says govt to conduct survey to register more women for BISP

QUETTA: Minister of State and Benazir Income Support Programme (BISP) Chairperson Marvi Memon has said that a survey is being conduct across the country to register more deserving women to make them beneficiaries of PISP. She was speaking at the launch of “Beneficiaries Outreach and Communication Strategy of BISP” and addressing separate meetings and ceremonies at MPAs Hostel Balochistan Assembly, ... Read More »

Near Rs6b disbursed under PM’s youth loan scheme so far

ISLAMABAD: The federal government has disbursed Rs5,971 million (near Rs6 billion) under Prime Minister’s Youth Business Loans Scheme (PMYBLS) by the end of November 2015. This was revealed during a meeting, chaired by Finance Minister Ishaq Dar, to review the implementation status of various schemes announced in the last two budgets. As for the scheme for which mark-up has been ... Read More »

China takes serious notice of Pakistan’s internal differences on CPEC

ISLAMABAD: China, taking serious notice of the internal differences on China-Pakistan Economic Corridor (CPEC), asked Pakistan to resolve these issues to create favourable conditions for the completion of the project. A statement issued by the Chinese embassy in Islamabad said, “We hope that relevant parties could strengthen communication and coordination and solve differences properly so as to create favourable conditions ... Read More »

Mazda recalls 374,000 vehicles for Takata airbag defects

TOKYO: Mazda Motor Corp said Friday it will recall 374,000 U.S. vehicles linked to potentially defective front passenger- side airbags made by Takata Corp. The Japanese automaker said the latest recall was prompted after Takata said testing showed additional airbag inflators could be prone to ruptures. The expanded recall includes the 2003-2008 Mazda6, 2006-2007 MazdaSpeed6 and 2004 RX8. Takata airbag ... Read More »

Hungary’s industrial output up 9.5% in November

BUDAPEST: Industrial output in Hungary increased by a year-on-year 9.5% in November, according to a first release of data published by Hungary’s Central Statistical Office (KSH) this morning. As compared to the same month of the previous year, the index adjusted for working days increased by 7.0%, KSH data show. Output was up by a year-on-year 7.3% in the first ... Read More »

Netflix launches services in Hungary

BUDAPEST: Online video streaming service Netflix launched services in Hungary, in more than 130 countries simultaneously, including all Eastern European countries, according to reports. Co-founder and Chief Executive Reed Hastings made the announcement yesterday in Las Vegas in his keynote speech via live stream. With the move Netflix has expanded its global reach from 60 countries. New subscribers in Hungary ... Read More »

Cheap crude threatens to deplete Russian reserves

MOSCOW: According to Russian Finance Minister Anton Siluanov, the country’s Reserve Fund could end in 2016. In this case, Russia will turn to its other international reserve, the National Welfare Fund. The main threat comes from falling oil prices. Russia’s 2016 budget depends on oil prices averaging $50 per barrel to meet spending. Below that price, the country must dip ... Read More »

Ireland police seize heroin worth €400k in Dublin, Westmeath

DUBLIN: Gardaí have seized €400,000 worth of heroin following searches in Dublin and Westmeath. Two people have been arrested in connection with the seizures. Heroin with a street value of approximately €300,000 was recovered when gardaí stopped and searched a car in Crumlin in Dublin on Friday afternoon. A 35-year-old male was arrested at the scene and is currently being ... Read More »

Thai authorities seize B10m seized from pyramid scheme suspect

BANGKOK: The Department of Special Investigation has seized assets worth 10 million baht from a key suspect in a gold pyramid scheme in Satun. A team of DSI officers and local police, led by Piyasiri Wattanawarangkul, director of the DSI Bureau of Special Crime 2, searched the house of Jaruayporn Ieosakul in Muang district district of this southern province. Mrs ... Read More »

Brazil flat steel imports plunge 29.6% in 2015: Ministry

BRASILIA: Brazilian imports of carbon steel sheet products sank 29.6% year on year to 800,205 mt in 2015, data from the foreign trade ministry showed Friday. In 2014, the country imported about 1.14 million mt of flat sheet goods. Imports of hot-rolled coil during 2015 totaled 28,095 mt, 13.7% above the 183,001 mt registered a year before. Cold-rolled imports fell ... Read More »

Brazil exports corn to South Africa as El Niño disrupts trade

SAO PAULO: Brazil is shipping corn to South Africa, a traditional maize exporter suffering from an El Niño-related drought, as it seeks new markets for its growing corn production. Brazil exported 321,662 tonnes of corn to South Africa in 2015, up from none the previous year, data from the Trade Ministry showed on Wednesday. Three more cargoes are on the ... Read More »

Brazil posts $19.68b trade surplus for 2015

SÃO PAULO: Brazil posted an annual trade surplus of $19.68 billion for 2015, but this rare piece of good economic news had more do with the nation’s weak economy than strong foreign demand for Brazilian goods. Nevertheless, it was an improvement over 2014, when Brazil posted a trade deficit of $4 billion, its first negative result since 2000, when it ... Read More »