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Author Archives: CT Report

Real estate sector shows signs of improvement

LAHORE: Pakistan’s real estate sector made a strong comeback after the Eid break, according to property portal, Lamudi.pk (http://www.lamudi.pk/). This is due to the influx of overseas Pakistanis who were back in the country to celebrate Eid with loved ones. Eid was perfectly timed with the improved security situation in the country. With the successful Karachi operation underway, eliminating the ... Read More »

ICCI urges FBR to address concerns of traders over WHT ‏

ISLAMABAD: The traders community was feeling disturbed from the levy of 0.6 percent withholding tax on banking transactions of non-filers exceeding amount of Rs 50000/- and Federal Board of Revenue should take urgent measures to address the concerns of business community on this important issue, observed Atif Ikram Sheikh after taking over charge as President, Islamabad Chamber of Commerce and ... Read More »

PM Nawaz hails Dar on achievement of US $20b forex reserves

ISLAMABAD: Pakistan’s foreign exchange reserves have crossed US$ 20 billion on Thursday which is a new all time record for the country. These include US $ 15.24 billion that are with the State Bank of Pakistan and US$ 4.83 billion held by the commercial banks. Prime Minister Mohammad Nawaz Sharif has congratulated the Finance Minister, Senator Mohammad Ishaq Dar on ... Read More »

ICCI signs MoU with Economic Reforms Unit of Ministry of Finance

ISLAMABAD: Recognizing the importance of alternate dispute resolution mechanism for effective and speedy resolution of trade disputes, Islamabad Chamber of Commerce and Industry (ICCI) has signed MoU with Economic Reforms Unit of Ministry of Finance ( ERUMF) for the establishment of Alternate Dispute Resolution Center at its premises to facilitate the local business community in out-of-court settlement of business to ... Read More »

119 direct, indirect taxes hampering economic activities in Punjab: LCCI

LAHORE: Senior vice president of the Lahore Chamber of Commerce and Industry Mian Nauman Kabir demanded of the government to bring down the number of taxes in Punjab as around 119 direct and indirect taxes are hampering the economic activities in the province. In a statement issued here, the LCCI senior vice president Mian Nauman Kabir said that in the ... Read More »

Microsoft releases Office 2016 worldwide

KARACHI: Microsoft Corp. began the worldwide release of Office 2016. The apps are the latest addition to Office 365, Microsoft’s cloud-based subscription service that helps people do their best work, together. The company also announced new and enhanced Office 365 services built for team productivity. “The way people work has changed dramatically, and that’s why Microsoft is focused on reinventing ... Read More »

ICCI calls for extension in deadline for filing of tax returns‏

ISLAMABAD: Islamabad Chamber of Commerce and Industry called upon the Federal Board of Revenue to extend the deadline of September 30, 2015 for e-filing of income tax returns up to 31st October 2015 to facilitate the taxpayers. Muzzamil Hussain Sabri, president, Islamabad Chamber of Commerce and Industry said that many taxpayers were out of the country for performing Hajj and ... Read More »

Dubai Customs launches Authorised Economic Operator

DUBAI: Dubai Customs launched the Authorized Economic Operator (AEO), which contributes drastically to the establishing of strategic partnerships that ensure better security and facilitation of global supply chains via Mutual Recognition Agreements, as per the WCO SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework). The move is in line with Dubai Customs’ vision to be “The ... Read More »

FBR proposes putting model Ayyan Ali on ECL

ISLAMABAD: Federal Interior Ministry received a letter from Federal Board of Revenue (FBR), proposing to place model Ayyan Ali on Exit Control List (ECL). According to sources, Interior Minister Chaudhry Nisar will take a final decision on whether or not the model should be put on ECL. Ayyan Ali is presently on bail in a high-profile money laundering case. The ... Read More »

Gepco recovers Rs 47m from electricity defaulters

SIALKOT: The special surveillance teams of Gujranwala Electric Power Company (Gepco) still remain unable to recover as many as Rs 47 million from as many as 42923 electricity thieves, which caught red handed by Gepco’s special surveillance teams during a crackdown against them during the month of August 2015 in Gujranwala Region’s all the six Sialkot, Narowal, Gujrat, Mandi Bahaud ... Read More »

Mobilink receives WWF ‘Award of Innovation’ for sustainable, green initiatives

ISLAMABAD: WWF Pakistan, in a latest honor recognizing the telco’s ongoing endeavors to protect the environment, conferred the ‘Award of Innovation’ to Mobilink at the third annual ‘WWF Green Office Network’ meeting. The award is in honor of Mobilink’s ongoing green sustainability initiatives, which target the telco’s industrial and corporate activities in a bid to cut down on consumption of ... Read More »

LSE to observe Eidul Azha holidays from September 24 to 26

LAHORE: Lahore Stock Exchange (LSE)  issued a notification regarding Eidul Azha  holiday sin which it informed all traders that LSE shall remain closed from Thursday, September 24, 2015 to Friday, September 25, 2015 on account of auspicious occasion of Eidul Azha holidays. The notification  further says that LSE shall observe its market/office timings as per normal schedule from Monday, September ... Read More »

LSE decoded to delist Medi Glass Ltd

LAHORE: Medi  Glass Limited was listed at the Lahore Stock Exchange in the year 1990 and its total paid up capital is Rs 75.938 million. The company is under violation of Listing Regulations No. 30(1)(b)(d)(e)(g) of the Exchange i.e. non-holding of AGM, has gone into liquidation through Court Order, non-payment of annual listing fee and non induction of ordinary shares ... Read More »

WECREATE holds graduation celebrations

ISLAMABAD: The Women’s Entrepreneurial Center of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) Center held its ‘Graduation Celebration of Start Up Academy Flight I’ to mark the completion of a 15-week program that takes aspiring female entrepreneurs from idea to business implementation. The graduates pitched their new businesses to community leaders, potential investors, and the press during the ... Read More »

Karachi’s improved security situation boosts property market

LAHORE: The successful Karachi operation positively impacted Pakistan’s real estate sector. New developments are expected to increase two to threefold in the future, according to a recent survey conducted by Pakistan’s best real estate website, Lamudi.pk According to real estate agents and builders, the Karachi operation created a very positive environment. The law and order agencies are eliminating the qabza ... Read More »

Khalid Javed become new PSRMA chairman

LAHORE: Khalid Javad, was elected chairman of Pakistan Steel Re-Rolling Mills Association while Dewan Abu Obaida Farooqui elected senior vice president, Mian Arif Mehmood vice chairman Lahore Circle, Akhtar Saeed vice chairman Karachi Circle for the year 2015-16. The results of the newly elected office-bearers were announced at the annual general meeting of the Pakistan Steel Re-Rolling Mills Association held ... Read More »

LCCI hails armed forces for Peshawar action

LAHORE: The Lahore Chamber of Commerce and Industry Saturday paid rich tributes to the Pakistan Armed forces for their successful operation against terrorists at PAF Base Peshawar saying that such ugly acts of terrorism cannot let the moral of nation down. The LCCI president Ijaz A. Mumtaz, senior vice president Mian Nauman Kabir and vice president Syed Mahmood Ghaznavi said ... Read More »

FBR selects 3 parliamentarians for audit through balloting

ISLAMABAD: The Senate Standing Committee on Finance disclosed that the Federal Board of Revenue (FBR) selected three parliamentarians, all belonging to opposition political parties, including the PPP, PTI and ANP, for audit through random computer balloting without having any parameters. “Interestingly, it was push of computer button that only selected opposition parliamentarians belonging to this committee whereas no member of ... Read More »

US assistance to Pakistan is focused on energy: Zachary Harkenrider

LAHORE: US Consul General Zachary Harkenrider said that USA is well aware of the energy crisis being witnessed by Pakistan and ready to provide every possible assistant in this regard. He was speaking at the Lahore Chamber of Commerce and Industry. The LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir and former LCCI President Irfan Qaiser Sheikh ... Read More »

Pharma manufacturers reject Punjab Drugs Amendment Ordinance 2015

KARACHI: Pakistan Pharmaceutical Manufacturers’ Association (PPMA) rejected newly promulgated the Punjab Drugs Amendment Ordinance 2015 assuring the government its full support to launch crackdown against spurious drugs that should be done within given countrywide framework under Drug Act 1976. Addressing a news conference, the Central Chairman of PPMA Saeed Allahwala, accompanied by members of central executive committee of representative body ... Read More »