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Author Archives: CT Report

PM for continues supply of petrol during Ramzan

ISLAMABAD: Prime Minister Nawaz Sharif has directed all out efforts for smooth supply of petroleum products and to observe load-shedding schedule during Ramzan. The prime minister was chairing a high-level meeting to review the power and petroleum supply situation during summer season, especially during the Ramzan at the PM House. The prime minister also directed the ministry of water and ... Read More »

Pakistan’s economy is back on track, says Pervez Malik

LAHORE: PML-N Lahore President Pervez Malik has said that economic health of the country is getting better with every passing day due to well-planned practical economic policies of the Nawaz Sharif government. He was talking to a delegation of traders from various city markets. Pervez Malik said that the country’s economy was now on the right track after concrete steps ... Read More »

Ishaq Dar rejects Indian stand on economic corridor

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that China Pakistan Economic Corridor (CPEC) was envisioned by Prime Minister Nawaz Shairf and the Chinese leadership and it is now becoming a reality. CPEC would be beneficial not only for China and Pakistan but also for the people of whole region, he added. Minister Dar stated this on Tuesday while meeting ... Read More »

MCCI and ACCA agrees to support accounting profession

MULTAN: The Multan Chamber of Commerce and Industries (MCCI) and Association of Chartered Certified Accountants (ACCA) Pakistan signed a memorandum of understanding (MoU) to promote highest professional, ethical and governance standards in the region. Both entities share strong interests in working together to advance the public interest and to support the accounting profession in Multan by building both capacity and ... Read More »

ICCI calls to develop all tax forms in Urdu to facilitate taxpayers

ISLAMABAD: The Islamabad Chamber of Commerce and Industry has called upon the government to announce developing all tax forms in Urdu language in the forthcoming budget and making them simple to facilitate the taxpayers. ICCI President Muzzamil Hussain Sabri, Senior Vice President Muhammad Shakeel Munir and Vice President Muhammad Ashfaq Hussain Chatha said that the current tax return forms in English ... Read More »

Import duty on skimmed, whey, fat-filled milk be reduced to 15 percent: KCCI

KARACHI: Karachi Chamber of Commerce and Industry President Iftikhar Ahmed Vohra, while supporting the demand of Milk Powder Importers and Processors, urged the government to announce reduction in import duty of skimmed milk, whey milk and fat-filled milk from the existing 25 percent to 15 percent in the forthcoming budget for the fiscal year 2015-16. Talking to a delegation of ... Read More »

FPCCI delegation to attend SCO Business Forum in Russia

ISLAMABAD: A delegation of Federation of Pakistan Chambers of Commerce and Industries (FPCCI) led by its President Mian Muhammad Adrees will visit Russian Federation this month to attend a meeting of Shanghai Cooperation Organization (SCO) Business Forum to be held in St. Petersburg to further promote trade in the region and especially with Russian Federation. Russian Federation embassy spokesman on ... Read More »

CPEC to open new door of progress, prosperity in Pakistan: Baloch

ISLAMABAD: Federal Minister for SAFRON Lt. Gen (R) Abdul Qadir Baloch Tuesday said that new doors of progress and prosperity would open in the country through China-Pakistan Economic Corridor project. Talking to a news channel, he said India’s objection over the project was illogical as India actually did not like Pak-China bilateral trade and close relations. The minister said Pakistan ... Read More »

PML-N’s govt puts Pakistan’s economy on track: Pervez Malik

LAHORE: President of Pakistan Muslim Leagu-Nawaz Lahore, Member National Assembly Pervez Malik has said that economic condition of the country is getting better with every passing day due to well-planned economic policies of the current government. While talking to a delegation of traders from various cities, Pervez Malik said that the country’s economy was now on the right track after ... Read More »

Nepra cuts power tariff by Rs 2.08 per unit 

ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) on Tuesday reduced power tariff by Rs 2.08 per unit under the monthly fuel adjustment plan. The tariff reduction will be passed on to consumers from next month. According to Nepra, around 6.43 billion units were sold in March and the generation cost remained Rs6.04 per unit. Electricity was sold to ... Read More »

Lack of merit: Anti-Corruption Gujranwala to reinvestigate 600 cases

SIALKOT: Anti-Corruption Establishment (ACE) Gujranwala has stopped the implementation of all the inquiries of as many as 600 corruption cases after receiving complaints of corruption against the investigators. According to the senior ACE officials, the Director ACE Gujranwala Division Shehzad Saeed stopped implementation on the inquiries of above mentioned 600 corruption cases. As the investigation officers of ACE has sent ... Read More »

PESSI officials harassing traders, complains LCCI president

LAHORE: The Lahore Chamber of Commerce and Industry has called for restructuring of Social Security Department to turn it into a facilitator for of the business community in true spirit. According to a statement issued here, LCCI President Ijaz A Mumtaz, Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi said that a number of LCCI members ... Read More »

Punjab Employees Social Security Institution harassing traders, complains LCCI president

LAHORE: The Lahore Chamber of Commerce and Industry has called for restructuring of Social Security Department to turn it into a facilitator for of the business community in true sense of words. In a statement issued here, the LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir and Vice President Syed Mahmood Ghaznavi said that a number of ... Read More »

SBP decides to rationalise processing fee for refund requests

LAHORE: The State Bank has decided to rationalise processing fee for refund requests against the penalties imposed on account of violations recorded in the inspection reports. The revised processing fee has been set as a lump sum amount of Rs. 500,000 for banks /DFIs whereas flat fee of Rs 100,000 for Microfinance Banks (MFBs). In this regard, the State Bank ... Read More »

FBR, customs authorities keep mum over irregularities, anomalies by AO Zubair and others at Port Qasim

KARACHI: The authorities concerned of the Federal Board of Revenue and Customs Department are keep mum over the irregularities and anomalies being continued by Appraising Officer Muhammad Zubair, Deputy Collector Athar Naveed and their nexus by knowingly discouraging legal trade at Port Qasim. Sources informed Customs Today that evidence of malpractices of these customs officials namely AO Muhammad Zubair and ... Read More »

Dar lauds budget proposals on IT sector

ISLAMABAD: Finance Minister Ishaq Dar met senior officials of the Ministry of Information Technology and the Federal Board of Revenue to discuss Ministry of IT’s proposals for the budget 2015-16. Secretary IT, Azmat Ali Ranjha, briefed the finance minister about the current profile of the IT sector in Pakistan. He said there was vast scope of expansion in the cell ... Read More »

Non-operational lifts in Customs House create tremendous hardships for visitors

KARACHI: The visitors, including importers and clearing agents, are facing tremendous difficulties in travelling from ground floor to 12th floor of the Custom House building, as the two lifts for visitors are not working properly from quite some time. The visitors while sharing their views with Customs Today said that the Collector MCC-Preventive Syed Muhammad Tariq Huda, while keeping the ... Read More »

Traders laud LHC decision for annulling surcharges in electricity bills

ISLAMABAD: The local business community during a meeting at Islamabad Chamber of Commerce and Industry lauded the decision of the Lahore High Court for annulling all kinds of surcharges from electricity bills and called upon the government to ensure full implementation of this decision with immediate effect, as it will provide great relief to business and industry as well as to ... Read More »

Govt utilising all resources to overcome power crisis, says Chaudhry Sher Ali

LAHORE: Punjab Minister for Mines Chaudhry Sher Ali Khan has said that the government is utilising maximum resources to promote alternate energy resources in the country. He was speaking at a national experts conference on “Coal and Alternative Energy Resources” here at the Lahore Chamber of Commerce and Industry. LCCI President Ijaz A Mumtaz, Vice President Syed Mahmood Ghaznavi, LCCI Standing Committee on ... Read More »

FBR proposes increase in duty on cigarettes, sugar and other products

ISLAMABAD: The government has decided to increase of federal excise duty on cigarettes, sugar, beverages and cooking oil in the budget for the financial year 2015-16. The government has accepted a proposal from Federal Board of Revenue (FBR) for raising FED from 19 to 33 percent on cigarettes, 9 to 12 percent on beverages and 8 to 17 percent on ... Read More »