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Author Archives: CT Report

Nepra cuts power tariff by Rs 2.08 per unit 

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) on Tuesday reduced power tariff by Rs 2.08 per unit under the monthly fuel adjustment plan. The tariff reduction will be passed on to consumers from next month. According to Nepra, around 6.43 billion units were sold in March and the generation cost remained Rs6.04 per unit. Electricity was sold to ... Read More »

Lack of merit: Anti-Corruption Gujranwala to reinvestigate 600 cases

SIALKOT: Anti-Corruption Establishment (ACE) Gujranwala has stopped the implementation of all the inquiries of as many as 600 corruption cases after receiving complaints of corruption against the investigators. According to the senior ACE officials, the Director ACE Gujranwala Division Shehzad Saeed stopped implementation on the inquiries of above mentioned 600 corruption cases. As the investigation officers of ACE has sent ... Read More »

PESSI officials harassing traders, complains LCCI president

LAHORE: The Lahore Chamber of Commerce and Industry has called for restructuring of Social Security Department to turn it into a facilitator for of the business community in true spirit. According to a statement issued here, LCCI President Ijaz A Mumtaz, Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi said that a number of LCCI members ... Read More »

Punjab Employees Social Security Institution harassing traders, complains LCCI president

LAHORE: The Lahore Chamber of Commerce and Industry has called for restructuring of Social Security Department to turn it into a facilitator for of the business community in true sense of words. In a statement issued here, the LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi said that a number of ... Read More »

SBP decides to rationalise processing fee for refund requests

LAHORE: The State Bank has decided to rationalise processing fee for refund requests against the penalties imposed on account of violations recorded in the inspection reports. The revised processing fee has been set as a lump sum amount of Rs. 500,000 for banks /DFIs whereas flat fee of Rs 100,000 for Microfinance Banks (MFBs). In this regard, the State Bank ... Read More »

FBR, customs authorities keep mum over irregularities, anomalies by AO Zubair and others at Port Qasim

KARACHI: The authorities concerned of the Federal Board of Revenue and Customs Department are keep mum over the irregularities and anomalies being continued by Appraising Officer Muhammad Zubair, Deputy Collector Athar Naveed and their nexus by knowingly discouraging legal trade at Port Qasim. Sources informed Customs Today that evidence of malpractices of these customs officials namely AO Muhammad Zubair and ... Read More »

Dar lauds budget proposals on IT sector

ISLAMABAD: Finance Minister Ishaq Dar met senior officials of the Ministry of Information Technology and the Federal Board of Revenue to discuss Ministry of IT’s proposals for the budget 2015-16. Secretary IT, Azmat Ali Ranjha, briefed the finance minister about the current profile of the IT sector in Pakistan. He said there was vast scope of expansion in the cell ... Read More »

Non-operational lifts in Customs House create tremendous hardships for visitors

KARACHI: The visitors, including importers and clearing agents, are facing tremendous difficulties in travelling from ground floor to 12th floor of the Custom House building, as the two lifts for visitors are not working properly from quite some time. The visitors while sharing their views with Customs Today said that the Collector MCC-Preventive Syed Muhammad Tariq Huda, while keeping the ... Read More »

Traders laud LHC decision for annulling surcharges in electricity bills

ISLAMABAD: The local business community during a meeting at Islamabad Chamber of Commerce and Industry lauded the decision of the Lahore High Court for annulling all kinds of surcharges from electricity bills and called upon the government to ensure full implementation of this decision with immediate effect, as it will provide great relief to business and industry as well as to ... Read More »

Govt utilising all resources to overcome power crisis, says Chaudhry Sher Ali

LAHORE: Punjab Minister for Mines Chaudhry Sher Ali Khan has said that the government is utilising maximum resources to promote alternate energy resources in the country. He was speaking at a national experts conference on “Coal and Alternative Energy Resources” here at the Lahore Chamber of Commerce and Industry. LCCI President Ijaz A Mumtaz, Vice President Syed Mahmood Ghaznavi, LCCI Standing Committee on ... Read More »

FBR proposes increase in duty on cigarettes, sugar and other products

ISLAMABAD: The government has decided to increase of federal excise duty on cigarettes, sugar, beverages and cooking oil in the budget for the financial year 2015-16. The government has accepted a proposal from Federal Board of Revenue (FBR) for raising FED from 19 to 33 percent on cigarettes, 9 to 12 percent on beverages and 8 to 17 percent on ... Read More »

OGRA suggests govt not to raise petroleum prices

ISLAMABAD:  Oil and Gas Regulatory Authority (OGRA) has recommended to government for not increasing the prices of petroleum products in order to sustain the prices of daily usage products during holy month of Ramadan. As per details, OGRA has said that the government could decrease levy slapped on petroleum products in order to minimize general sales tax (GST). The past ... Read More »

Sindh CM orders release of Rs 120m for power cabling of water pumping stations

KARACHI: Sindh Chief Minister Syed Qaim Ali Shah has ordered release Rs 120 million for new electric cabling of five major pumping stations of Karachi Water Sewerage Board (KWSB) to ensure uninterrupted operation of the pumping stations. “The funds are being released for KWSB only in the interest of Karachiites to resolve water supply issues”, he said while presiding over ... Read More »

Kamran Michael terms Signing of MoU between PIFFA, Bahria Foundation major achievement

KARACHI: The Minister for Ports and Shipping, Senator Kamran Michael, has termed the signing of Memorandum of Understanding (MoU) between Pakistan International Freight Forwarders Association (PIFFA) and Bahria Foundation as a major achievement towards realisation of government policies of expanding exports and increasing trade of the country. He was speaking as chief guest in a gathering here on Saturday, to ... Read More »

Pakistan can get benefit of Belarusian mechanized farming equipment: Minister

ISLAMABAD: Federal Minister for National Food Security and Research Sikandar Hayat Khan Bosan has said that the two-day visit of Belarusian President Alexander Lukashenko to Pakistan would help further strengthen bilateral trade and economic ties. Talking to Radio Pakistan, he said tractors made by Belarus were quite popular and in high demand in Pakistan. “We can also get benefit of ... Read More »

LNG to be available for 18 to 20 days in a month

LAHORE: All Pakistan CNG Association (APCNGA) Central Chairman, Ghayas Abdullah Piracha has said that Liquefied Natural Gas (LNG) will be available at CNG stations for almost 18 to 20 days in a month. Talking to APP here on Saturday, he said that according to the schedule issued by the government, the LNG would be available at CNG stations till June ... Read More »

RTO-II Lahore shows 14% growth in revenue collection till April

LAHORE: The Federal Board of Revenue’s Regional Tax Office-II has collected rupees 51.257 billion during current fiscal year up to April, 2015 showing a growth of 14 percent against the collections of last corresponding period. Official sources informed here Saturday that an amount of rupees 45.025 billion was collected during the last fiscal year. The major revenue spinner of RTO ... Read More »

Pak High Commissioner in UK lauds UK assistance in award of GSP Plus status

ISLAMABAD: Pakistan’s High Commissioner in United Kingdom Syed Ibne Abbas Saturday appreciated UK’s assistance to Pakistan in education sector and in award of GSP Plus status to Pakistan in the European Union. He was talking to a nine-member group of senior civil servants presently attending the National Management Course at the National School of Public Policy, Lahore, as they visited ... Read More »

Load-shedding exemption to industries to accelerate economic activities

LAHORE: President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Muhammad Adrees Saturday said that load-shedding exemption for industrial sector would help accelerate economic activities, besides strengthening the national economy. He told that “the entire industry is grateful to the Prime Minister for acceding to their long standing demand for giving complete load-shedding exemption to industry which he hoped ... Read More »

Environment Festival at PAF Museum from June 1

KARACHI: The National Forum for Environment and Health (NFEH) in collaboration with United Nations Environment Programme (UNEP), Commissioner Office Karachi and other organizations is going to organize Environment Festival at PAF Museum on June 1. NFEH President M. Naeem Qureshi briefed that 20 schools, NGOs corporate sector and celebrities will be participating in the festival, said a statement on Friday. ... Read More »