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Author Archives: CT Report

CDNS mobilizes Rs.282 billion savings during 11 months

ISLAMABAD: Central Directorate of National Savings (CDNS) has achieved Rs 282 billion target during current fiscal year from July 1, 2014 to May 21, 2015 against the target of Rs 284 billion. An official of CDNS, giving breakups of these months told APP on Friday that “People have shown confidence in National Savings, when risks factors were involved in different ... Read More »

Govt taking steps to enhance agriculture production

LAHORE: The Punjab government was taking comprehensive measures to enhance agricultural productivity by ensuring quality in agriculture research under Punjab Growth Strategy 2018. According to agriculture department, the standardized quality, availability and use of agriculture material such as seeds, fertilizers, pesticides, machinery, credit and others would be ensured to enhance production. The government would also implement regulatory and institutional changes ... Read More »

KPT shipping intelligence report

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier): Berth No Ship Working Agent Berthing Date OP-II Al Mahboobah D. Chemical GAC 22/05/15 ALONG SIDE (East Wharves): 2/3 Yasa Aysen D. Meal East Wind 18/05/15 5 Poavosa Wisdom VIII D. Dap Bulk.Sh. 14/05/15 ... 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 Friday. SHIPS SAILED: M.T Karachi Heilan Song Commodore Ever Radiant BW Zambesi PAC Aries SHIPS BERTHED: PAC Aries Container Ship Northern Guild Container Ship APL Guangzhou Container Ship Dato Success General Cargo AL Mahboobah Tanker RHL Aqua Container Ship EXPECTED ... Read More »

NAB arrests two FBR’s ex-officers in Rs 44 million fraud case

ISLAMABAD: National Accountability Bureau (NAB) on Friday arrested two former officers of Federal Board of Revenue (FBR) in fraud case. According to press release issued by NAB, the accused Sarfraz Ahmed and Atif Raza were performing their job as superintendent in FBR NAB claimed that both accused along with private persons were involved in misuse of authority and illegal refund ... Read More »

NBP branches to remain open for settlement of duty, taxes on 30th

ISLAMABAD: The Federal Board of Revenue (FBR), Islamabad, in coordination with State Bank of Pakistan (SBP) and National Bank of Pakistan (NBP), has made special arrangements for collection of duties and taxes on Saturday May 30, 2015. The State Bank of Pakistan has directed settlement / clearing of FBR transactions on month end by NBP Bank branches (A, B & ... Read More »

K-Electric taking stringent action against electricity thieves, defaulters

KARACHI:  K-Electric officials, along with Federal Investigation Agency (FIA), Sindh police and Rangers, have taken stern action against defaulters and electricity thieves in various areas of Karachi. In a press statement, the KE said that the FIA uncovered over 2,500 hook connections in various areas of Karachi and took stern action against the offenders. Many renowned restaurants such as Bundoo ... Read More »

Business community asks govt to establish delayed Export Import Bank

ISLAMABAD: Despite announcing the establishment of Export Import Bank of Pakistan during budget of fiscal year 2014-15, it is still far away from reality. As per details, Finance Minister Ishaq Dar announced in the budget speech of 2014-15 about establishment of Export Import Bank of Pakistan as it was one of the major demands of importers and exporters of the ... Read More »

National Tariff Commission chief expresses reservations about FTA with China

RAWALPINDI: National Tariff Commission (NTC) Chairman Muhammad Abbas Raza has said that NTC prime job is to protect local industry and take strict measures to end unfair trade. The NTC has strong reservations about Free Trade Agreement (FTA) with China and such worries have been conveyed to government also and it is decided that products which are being produced in ... Read More »

Traders slam passage of GIDC Bill, call for withdrawal‏

ISLAMABAD: The local industrialists during a meeting held at Islamabad Chamber of Commerce and Industry strongly protested against the passage of Gas Infrastructure Development Cess (GIDC) Bill from parliament and called upon the government to withdraw it as it will increase the cost of doing business, make export sector nonviable in the global market and will cause closure of a ... Read More »

PM for increasing trade volume between Pak-Kyrgyz

BISHKEK: Prime Minister Muhammad Nawaz Sharif Thursday said that trade volume between Pakistan and Kyrgyzstan was not equal to the actual potential that exists, adding that both the countries should work to increase it. He said that both countries must ensure that special bilateral ties were transformed into a strategic partnership encompassing all areas of bilateral relations. In a meeting ... Read More »

SNGPL facing Rs 22 billion losses per annum, PAC told

ISLAMABAD: The Public Accounts Committee (PAC) of the National Assembly was informed on Thursday that the losses of Sui Northern Gas Pipeline Limited (SNGP) have reached to Rs 22 billion per annum due to gas theft and other technical problems. The committee met here under the chair of Sayed Naveed Qamar and attended by other members including Shafqat Mehmood, Dr. ... Read More »

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 »