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Author Archives: CT Report

Dar chairs meeting to review preparations for Pak- Afghan JEC‏

ISLAMABAD: The Federal Minister for Finance Mohammad Ishaq Dar presided over a meeting to review the Preparations for the Upcoming 10th  Pak-Afghan Joint Economic Commission session. Additional Secretary Economic Affairs Division Mr. Omar Hamid briefed the meeting on the implementation status of the decisions taken on bilateral economic issues between Pakistan and Afghanistan in the previous JEC meeting. Omar Hamid ... Read More »

Pakistan, Romania should focus on enhancing trade ties: Sabri‏

ISLAMABAD: Muhammad Shakeel Munir, senior vice president of the Islamabad Chamber of Commerce and Industry hosted a farewell dinner in honour of Dragos Cosmin LUCA, deputy Head of Mission of Romania and his spouse. Muzzamil Hussain Sabri president, M. Ashfaq Hussain Chatha vice president, Islamabad Chamber of Commerce and Industry, Khalid Javed and Mian Shaukat Masud former presidents ICCI, Emilion Ion, Ambassador ... Read More »

Expansion of tax net is need of the hour, says CEO TADP

LAHORE: Chief Executive of Trade Development Authority of Pakistan (TDAP) SM Muneer has given a well designed and well tailored recipe to enhance exports in the quickest way. He was speaking at the Lahore Chamber of Commerce and Industry. The LCCI President Ijaz A. Mumtaz presented the address of welcome while senior vice president Mian Nauman Kabir, former LCCI presidents Iftikhar ... Read More »

100,000 new people added in tax net: Jam Kamal

ISLAMABAD: Minister of State for Petroleum and Natural Resources Jam Kamal informed the Senate that government took various steps to broaden tax net adding that 100,000 new people were brought into tax net. Concluding discussion on a commenced motion moved by Shibili Faraz regarding steps taken by the government to broaden the tax net in the country, the minister said ... Read More »

ICCI organise reception in honour of cricketer Immad Wasim

ISLAMABAD: The Islamabad Chamber of Commerce and Industry has organized a reception in honour of Pakistani cricketer Immad Wasim who hit the historic six against Sri Lanka in the last T20 and won the match for Pakistan.  Ashfaq Hussain Chatha, acting president, M. Shakeel Munir, senior vice president, Islamabad Chamber of Commerce and Industry, Sports Committee members of ICCI, representatives ... Read More »

NAB decides to hold six inquiries, three investigations

ISLAMABAD: The Executive Board Meeting (EBM) of National Accountability Bureau (NAB) was held under the chairmanship of Qamar Zaman Chaudhry at the NAB Headquarters, Islamabad. The meeting decided to file a corruption reference against Muhammad Jalal, Ex-Secretary Health, Dr Naseer Ahmad Baloch, Additional Secretary, Dr Abdul Baqi Durrani, Head of Medicine and others. In this case, the accused allegedly misused ... Read More »

Turkey to establish Consulate in Lahore soon

LAHORE: Turkey would soon open its consulate in Lahore very soon to facilitate businessmen. This was revealed at a meeting between the 12-member Turkish delegation and the LCCI President Ijaz A. Mumtaz here at the Lahore Chamber of Commerce & Industry. CEO Pakistan Turkey Business Association Sadi Yildirir and head of Turkish delegation Tevfik Ayhan also spoke on the occasion. ... Read More »

Khidmat Cards holders will not be charged on ATM transactions in Punjab

LAHORE: The Punjab government has established Punjab Social Protection Authority (PSPA) to launch a targeted cash transfer program for disabled and poor people under the auspices of “Khidmat Card”. To ensure provision of maximum options, the beneficiaries would be able to withdraw cash through ATMs of all Financial Institutions (FIs) throughout the country. In order to save beneficiaries from extra financial ... Read More »

ICCI hails formation of new forum for boosting exports‏

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI)  has lauded the government’s initiative for creating a new forum comprising key economic ministries to focus on improving falling production and exports of the country. The ICCI has called upon the government to ensure proper representation of the private sector in the said forum to make its efforts more effective and well-targeted. ... Read More »

Committee formed to review sales tax on services of indenters

KARACHI: Chairman of Sindh Revenue Board (SRB), Tashfeen Khalid Niaz, while responding to the concerns raised over the imposition of 14 percent sales tax on services of indenters, advised the Karachi Chamber of Commerce and Industry (KCCI) to form a committee to review the imposition of services sales tax on indenters and analyze whether it was rational or not. Keeping ... Read More »

China wants enhanced cooperation in services sectors with Pakistan

ISLAMABAD: Fifth meeting of second phase negotiations of China-Pakistan Free Trade Agreement (CPFTA) was held here. Yao Wenling, Deputy Director General, Ministry of Commerce of China and Mrs. Robina Athar, Additional Secretary Ministry of Commerce of Pakistan lead the respective delegations. The two sides continued discussion on Tariff Reduction Modality (TRM) for the second phase of CPFTA. Pakistan reiterated its ... Read More »

Bahraini investors should avail investment opportunities in Pakistan: Sabri

ISLAMABAD: There was immense scope for enhancing bilateral trade and economic relations between Pakistan and Bahrain and Pakistan embassy in Bahrain should facilitate business communities of both countries in making direct contacts for exploring opportunities of business matchmakings, joint ventures and investment in areas of mutual interest. This was stressed by Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and ... Read More »

Pak-China Economic Corridor to start new era of economic stability: Basit

LAHORE: Punjab Board of Investment and Trade (PBIT) Chairman Abdul Basit has said that enemies of Pakistan are afraid of our success and are trying to destabilize Pakistan but they will not be allowed to play havoc with the national interests. In a statement issued here, Abdul Basit said that those are the enemies of the country who are inviting India to interfere ... Read More »

ICCI, IBA to form joint body for shifting of courts from F-8 Markaz‏

ISLAMABAD: A delegation of Islamabad Bar Association led by its President Zahid Mahmood Raja visited Islamabad Chamber of Commerce and Industry and discussed formation of a joint committee comprising representatives of the ICCI and the Islamabad Bar Association to work for the shifting of district courts from F-8 Markaz. Speaking at the occasion, Zahid Mahmood Raja said that the lawyers ... Read More »

Ijaz Mumtaz calls for knowledge based economy

LAHORE: The knowledge-based economy is the only way to cope with the challenges posed by the rapidly changing global scenario. It will also help overcome various internal issues like decline in exports, energy crisis, lowest tax-to-GDP ratio, inefficiency of Public Sector Entities, brain-drain, shortage of skilled human resources and low industrial production etc. These views were expressed by the LCCI ... Read More »

London mortgage broker sentenced for fraud

LONDON: A London mortgage broker who lied about his company profits to evade almost £115,000 in corporation tax has been sentenced for his involvement in a tax and mortgage fraud, after a joint investigation by HM Revenue and Customs (HMRC) and the Metropolitan Police Service (MPS). HMRC found that Asim Hussain, (42), the director of Lifestyle Mortgages (Middlesex) Ltd had ... Read More »

Businessmen eagerly waiting for completion of Pak-China Economic Corridor: FPCCI

KARACHI: The business community is eagerly waiting for completion of Pak-China Economic Corridor which would bring economic revolution in Pakistan and China. This was stated by Muhammad Waseem Vohra, vice president of the FPCCI in a meeting with 16 member delegation of Xinjiang province of China. The meeting was also attended by Muhammad Ikram Rajput, vice president and Incharge Sindh Region ... Read More »

Govt asked to make consensus for resolving economic issues‏

ISLAMABAD: The economic situation of the country demands that the government should take all stakeholders including business community on board for making consensus decisions that would help in resolving the key issues of the economy and pave way for smooth economic development of the country, observed Muhammad Ashfaq Hussain Chatha, acting president, Islamabad Chamber of Commerce and Industry (ICCI). Addressing ... Read More »

Imposition of regulatory duty on iron imports challenged in SHC

KARACHI: A large number of the importers of iron and steel products have approached the Sindh High Court against imposition of regulatory duty on imports of iron and steel from China. The Pakistan Welding Electrodes Limited and Izhar Steel are among the litigants who have gone to the court challenging the federal government’s notification regarding imposition of regulatory duty on ... Read More »

Finance Minister hails SECP for compliance with IOSCO rules

ISLAMABAD: Federal Finance Minister  Ishaq Dar has commended Securities and Exchange Commission of Pakistan (SECP) on its landmark achievement of compliance with the International Organization of Securities Commissions (IOSCO) Principles for securities regulation. Mr. Zafar Hijazi, Chairman SECP presented the Report published by the IOSCO to the Finance Minister.  The Report recognized that SECP has made a significant progress in ... Read More »