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Author Archives: CT Report

Pakistan-China trade will touch $15 billion in few years: Sheikh Arshad

LAHORE: A delegation of the Lahore Chamber of Commerce and Industry, led by its president Sheikh Muhammad Arshad, visited the Chinese Consulate and had a detailed discussion with the Chinese Consul General Yu Boren regarding two-way trade, investment and visa facilities for the businessmen. The LCCI senior vice president Almas Hyder and vice president Nasir Saeed also spoke on the ... Read More »

Closing: Karachi Stock Market witnesses lackluster day

Karachi Stock market on Tuesday witnessed a lackluster day as investors in the international market await a key meeting of the US Fed later this week. The benchmark KSE-100 Index shed 16.81 points to close at 33,843.83 points. Tumbling oil and selling by foreigners further dented the market’s sentiment, stated analyst at Topline Securities. Below than expected result of FFBL ... Read More »

Turkey offers a lot to Pakistani businessmen to enter EU market

LAHORE: Pakistani entrepreneurs should ensure their participation in the international trade fairs and exhibitions like 24th Turkey World Trade Bridge 2015 to get awareness about the day-by-day changing global trends. It would not only enable them to expand their own businesses but would also strengthen the Pakistan’s external trade. This was upshot of the speeches delivered at a seminar on ”24th ... Read More »

BMG, KCCI express grief, sorrow over loss of lives caused by earthquake

  KARACHI: The leadership of Businessmen Group and office bearers of the Karachi Chamber of Commerce and Industry (KCCI) have expressed deep grief and sorrow over colossal loss of lives caused by an extremely horrifying and lethal earthquake of 8.1 magnitude which terribly struck Khyber Pakhtunkhwa and Punjab provinces in Pakistan on Monday afternoon, besides hitting Afghanistan’s sparsely populated Badakhshan ... Read More »

CDA asks to repair Islamabad Dry Port main road on priority basis

ISLAMABAD: Sheikh Pervez Ahmed, Senior Vice President, Islamabad Chamber of Commerce and Industry has called upon the Capital Development Authority to urgently repair Islamabad Dry Port main road and industrial areas roads on priority in order to facilitate the trade and industrial activities. He said Islamabad Dry Port road was broken since long, but CDA was paying no attention to its ... Read More »

LCCI president appeals FBR to extend income tax filing date

LAHORE: Lahore Chamber of Commerce and Industries (LCCI) President Sheikh Muhammad Arshad has appealed to the Chairman of Federal Board of Revenue (FBR) to extend the date for the filing of income tax returns. In a press statement issued here Tuesday, the LCCI President said that the date should be extended by one month so that business community could easily ... Read More »

Large-scale industrial output grows 4.11pc

ISLAMABAD: Large-scale manufacturing (LSM) grew by 4.11 per cent in the first two months of the current fiscal year from a year ago. Major sectors that contributed to the LSM growth in July-August 2015 included automobiles (44.46pc growth), fertilisers (15.13pc), leather products (19.05pc) and chemicals (12.71pc). The growth in the LSM sector, which accounts for 70pc of industrial production, was ... Read More »

Truckers on strike at LA and Long Beach ports

A group of truck drivers at the ports of Los Angeles and Long Beach went on strike Monday, but port officials said the labor action had minimal impact on cargo operations. The “unfair labor practice” strike includes drivers “misclassified as independent contractors” rather than employees by Pacific 9 Transportation and XPO Logistic, said Barb Maynard of the International Brotherhood of ... Read More »

Belarus to explore investment opportunities in Pakistan‏

ISLAMABAD: The Belarusian ambassador Dr. Andrei M Ermolovich said that a large business delegation of Belarus will visit Pakistan in the first week of November this year to attend the Pakistan Investment Conference and to explore investment opportunities in areas of interest. He said this during visit to Islamabad Chamber of Commerce and Industry. He said Belarus was keen to ... Read More »

K-Electric secures $ 250 million financing from OPIC

WASHINGTON: K-Electric Limited and the Overseas Private Investment Corporation (“OPIC”), the U.S. government’s development finance institution, have executed a commitment letter for a US$250 million, 10-year financing project in a signing ceremony attended by the Senator Ishaq Dar, the Finance Minister of Pakistan. The ceremony was held at the US Chamber of Commerce in Washington, D.C.. K-Electric supplies electricity to ... Read More »

SCCI announces to establish Sadqa Zakat Fund

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) established Sadqa Zakat Fund Account o help the  local deserving people. SCCI President Maj (Rtd) Mansur Ahmed told that Sialkot Chamber of Commerce and Industry (SCCI) was one of the top Chambers in Pakistan along with its marvelous trade promotion activities was also playing active role in Corporate Social Responsibilities(CSR) relating to ... Read More »

Hungary invites Pakistani businessmen to invest in Hunary

LAHORE: Pakistan ambassador designate to Hungary Syrus Sajjad Qazi urged the Pakistani businessmen to evolve strategy to tape huge potential exists in Hungary. He was talking to the LCCI president Sheikh Muhammad Arshad here at the Lahore Chamber of Commerce and Industry. The LCCI Vice President Nasir Saeed also spoke on the occasion. Ambassador said that interaction with the Hungarian ... Read More »

ADB to provide $ 178m for National Motorway Gojra-Shorkot section project

  ISLAMABAD: The Government of Pakistan and Asian Development Bank signed a Loan agreement of US $ 178 million for National Motorway M-4 Gojra-Shorkot Section Project (62 KM) which also includes grant of £58,850,000 (US $ 90.77 million) to be provided by the Department of International Development (DFID), UK. Upon the completion, the M-4 Motorway will provide a four lane ... Read More »

APBUMA opposes  levy of 10% tax on import of cotton yarn‏

MULTAN: Chairman All Pakistan Bed sheets and Upholstery Manufacturing Association strongly opposed the government decision of imposing 10% regulatory duty on the import of cotton yarn from India. Chairman APBUMA Syed Muhammad Asim stated that this 10 percent regulatory duty imposed on cotton yarn import from India will increase their cost of doing business and this decision will badly affect ... Read More »

FIA tightens security at Sialkot airport

SIALKOT: Federal Investigation Agency (FIA) has further tightened its security at Sialkot International Airport here, besides, issuing the special directives to keep round-the-clock vigilant eye on all the foreigners visiting this airport in a bid to any untoward incident there. Senior FIA officials led by Ch. Khalid Anees (Deputy Director FIA Gujranwala Region) checked the security of the airport. They ... Read More »

LCCI demands measures to save Plastic industry

  LAHORE: The Lahore Chamber of Commerce and Industry has demanded of the government to take stringent measures to stop smuggling of plastic raw material and finished goods from Iran which are destroying the local plastic industry. The demand was raised by the LCCI president Sheikh Muhammad Arshad while talking to the delegation of Plastic industry, led by Khadim Hussain, ... Read More »

Faisalabad Excise’ anti-narcotics collects Rs15.7m in first quarter

FAISALABAD: The Excise and Taxation’ anti-narcotics wing has collected Rs 15.741 million during first quarter (July-September) of current fiscal year 2015-16, while its yearly target is Rs 85.786. As per details, Faisalabad district has collected Rs 13.709 million showing 17 percent growth towards its annual target of Rs 79.406. Rs 995,000 were collected from Jhang region, while its annual target ... Read More »

Sialkot traders play pivotal role for national economy: Mansur Ahmad

SIALKOT: President Sialkot Chamber of Commerce and Industry (SCCI) Mansur Ahmed has said that the exporters of Sialkot are the “roaming ambassadors of Pakistan”, who travel all around the world to fetch business and with their personal efforts, the export earnings of Sialkot stand at $1.8 billion annually. He said that the Sialkot exporters had been earning precious foreign exchange ... Read More »

Governor SBP for expanding work done on resolution framework

KARACHI: Governor State Bank of Pakistan Ashraf Mahmood Wathra has outlined his outlook for the Regional Consultative Group Asia (RCG Asia) and suggested that the RCG expand on the work done so far on resolution framework as well as financial safety nets. “These initiatives will enable the member countries to exchange fruitful ideas in order to get critical insight on ... Read More »

LCCI for early completion of power projects

LAHORE: Economic growth is directly linked with energy therefore government should take every possible initiative to ensure cheap and sufficient electricity for the manufacturing sector otherwise it would not be able to achieve the desired economic goals. This was stated by the President of the Lahore Chamber of Commerce and Industry (LCCI) Sheikh Muhammad Arshad, Senior Vice President Almas Haider ... Read More »