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Author Archives: CT Report

US supporting Pakistan in energy sector: US Envoy

KARACHI: United States Consul General in Karachi, Brian Heath has said that United States is supporting Pakistan in energy sector, which is essential for growth of economy in the country. Brian Heath said that USA supports Pakistan to become it strong and stable in every sphere of life including economy, education and social sector. He was addressing the faculty and ... Read More »

Textile exports increases 2.94% in April

ISLAMABAD: The textile exports from the country increased by 2.94 percent in April against the exports of same month of last year. The exports of textile group in April, were recorded at $1.081 billion against the exports of $1.05 billion in April 2014, according to Pakistan Bureau of Statistics (PBS). Similarly on month on month basis the textile group exports ... Read More »

PARC enhances operational, production capacity of silage bailing plant

ISLAMABAD: The Pakistan Agricultural Research Council (PARC) enhanced the operational and production capacity of silage bailing and wrapping plant to cater to the increasing demand for animal fodder by the farmers. “After the expansion of the plant, it is now expected that more farmers would take benefit of this facility and get hygienic fodder for their animals,” Chairman PARC Dr. ... Read More »

CM Sindh approves release of Rs 2.5 billion to achieve wheat procurement target

KARACHI: Sindh Chief Minister, Syed Qaim Ali Shah Thursday approved release of Rs 2.5 billion to procure 200,000 tons of wheat to achieve the procurement target. “I want fair distribution of gunny bags (bardana) and small growers must be given due share.” These directives he issued to Minister for Food Gianchand Israni while presiding over a joint meeting of Food ... Read More »

NAB starts character building of students to make corruption free society

KARACHI: National Accountability Bureau (NAB-Karachi) in pursuance of directives of Chairman NAB Qamar Zaman Chaudhary to focus on formation of Character Building Societies (CBSs) of students has initiated coordination with management of educational institutions. In first phase CBSs would be formed in Army Public Schools and Colleges (APSAC), Fazaia Schools and Colleges, Bahria Foundation’s Schools and Colleges, Beacon House Schools, ... Read More »

SECP initiates four show-cause proceedings for non-compliance

ISLAMABAD: The Securities and Exchange Commission of Pakistan’s (SECP) Corporate Supervision Department, while ensuring corporate and allied laws on Thursday initiated four show-cause proceedings against companies for providing shorter notice period for holding annual general meeting (AGM). SECP take action on non-compliance with provident fund’s rule for employees and not attaching the statement of material facts with the notice of ... Read More »

KPT shipping movement report

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Thursday. SHIPS SAILED: Hyundai Confidence Cont Sima Prestige Cont SHIPS BERTHED: Commodore Cont Ever Radiant Cont Heilan Song G.C BSLE Pacific G.C PAC Aries Cont EXPECTED SAILING DATE Commodore 21/05/15 Heilan Song 21/05/15 Ever Radiant 21/05/15 SW Zambesi 21/05/15 PAC ... Read More »

Petrol price likely to increase by Rs 5.80 in June

Karachi: The prices of petroleum products are expected to increase in June, 2015, media reports confirmed. Government may rise per litre price of diesel by Rs. 6.20 and petrol by Rs. 5.80. A staggering Rs. 11 increase may be seen in the price of HOBC. The reason for the price increase is the turmoil in Yemen which has led to ... Read More »

Antarctic ice shelf a few years from disintegration, NASA

LONDON: The last intact section of one of Antarctica’s mammoth ice shelves is weakening fast and will likely disintegrate completely in the next few years, contributing further to rising sea levels, according to a NASA study released on Thursday. The research focused on a remnant of the so-called Larsen B Ice Shelf, which has existed for at least 10,000 years ... Read More »

NASA grants Certification to SpaceX to launch its robotic science missions

MEXICO: It’s official. NASA has formally certified SpaceX’s Falcon 9 rocket to launch all but the agency’s most costly robotic science missions. The first mission for SpaceX will be the launch of a United States and France oceanography satellite that is scheduled for liftoff from California in July. According to George Diller, a spokesperson from NASA, the space agency’s Launch ... Read More »

Tough time for Tata Motors’ Nano: Renault launches $4,700 Kwid in India

CHENNAI: With aim to conquer a big auto market, Renault has launched a new budget car, Kwid, in India. According to Renault Chief Executive Carlos Ghosn, Kwid is “a car for conquest” designed to deliver high-volume sales as the French auto giant tries to increase its share of the Indian market. The Kwid, the first Renault car to have its ... Read More »

Porsche’s Black Edition versions of its 911 Carrera and Boxster getting popularity among fans

BERLING: Porsche introduces Black Edition versions of its 911 Carrera and Boxster. As you can imagine, the Black Edition is first and foremost an aesthetic package, but also comes with more standard features than a normal Boxster or Carrera. Among the added equipment is a Sport Design steering wheel, cruise control, rain sensing wipers, auto-dimming rearview mirror and Porsche Communication ... Read More »

Mazda introduces local pricing for all-new MX-5 convertible sports car

TOKYO: Mazda has introduces local pricing for the all-new MX-5 convertible sports car, with the hotly-anticipated new fourth-generation model priced from $31,990, sharpening the pricing by over $15,000 compared to the outgoing NC model. This puts the MX-5 squarely up against the Toyota 86, with the other budget rear-wheel drive hero still kicking off at $29,990. The MX-5 brings the ... Read More »

Honda Cars recalled CR-Vs and Accords to fix faulty air bag inflator

NEW DELHI: Honda Cars recalled CR-Vs and Accords. The recall is to fix a faulty air bag inflator in both the cars. The company has listed 575 units of the Honda CR-V have a defective passenger side airbag inflator while the 10,805 units of the Accord have a defective driver side airbag inflator. In addition, Honda will also replace the ... Read More »

Pakistan lacks culture of tax compliance: FBR Chairman

Bajwa asks youth to promote tax culture using social media ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa on Wednesday said that Pakistan lacked a culture of tax compliance and urged youth to work as change agents and promote tax culture in Pakistan. He was addressing a large gathering of students attending a ‘Tax Fair’ organised by FBR at ... Read More »

AJK govt reluctant to clear electricity bills, complains Gepco

SIALKOT: The outstanding arrears of Azad Jammu Kashmir (AJK) government have now increased up to Rs. 6.5 billion and the AJK government has been reluctant to make early payment of these dues to Gujranwala Electric Power Company (Gepco) despite the passage of five consecutive years. According to the officials concerned, Gepco had been supplying electricity to AJK government for the ... Read More »

Pakistan wants to enhance trade, communication links with Turkmenistan: PM

ASHGABAT: Prime Minister Muhammad Nawaz Sharif on Wednesday said Pakistan desired to have enhanced bilateral trade and communication links with Turkmenistan. “Pakistan and Turkmenistan possess rich experience in agriculture, agro-based industry including wheat, rice, textile and food processing. Hence both our countries can mutually benefit from each other’s expertise in these areas,” the Prime Minister said while speaking at a ... Read More »

China-Pak Economic Corridor, a win-win project for both countries: Ahsan

ISLAMABAD: Minister for Planning and Development Ahsan Iqbal Wednesday termed China-Pakistan Economic Corridor (CPEC) a win-win project for both the countries saying that the projects having win-win paradigm always succeed. Talking to a news channel, the minister said the project would prove to be a game changer for bringing economic revolution in the country. He said through this project, Pakistan ... Read More »

SECP issues a show cause notice to Axact Company for ultra vires activities

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) here on Wednesday  issued a show cause notice under Section 496 read with Section 476 of the Companies Ordinance, 1984, to the Axact Company regarding their ultra vires activities which are not authorized by its Memorandum of Association. Though, the main objective of the company were to carry on business of ... Read More »

Govt making all out efforts to overcome energy crisis: Musadiq

ISLAMABAD: Spokesman to the Prime Minister Dr. Musadiq Malik Wednesday said Pakistan Muslim League-Nawaz (PML-N) government was making all out efforts to overcome energy crisis in the country. Talking to a news channel, he said keeping in view the path being followed by the incumbent government, it was hoped that energy crisis would be overcome in the next few years. ... Read More »