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Author Archives: CT Report

NASA to deploy first interplanetary CubeSats for next Mars mission

ISLAMABAD: U.S. space agency NASA said that its next Mars landing mission in 2016 will include two CubeSats, the first time such tiny satellites have been deployed in deep space. Known as Mars Cube One, or MarCO, the CubeSats will fly by Mars while insight, NASA’s next Mars lander, descends to the Martian surface in September 2016, NASA said. “If ... Read More »

Pak economy improves in after 2013 polls: WSJ report

WASHINGTON: Pakistan’s economy has improved in recent past despite security challenges and energy problems, said a Wall Street Journal report that was about investors’ interest in a public offering of a multi-billion shopping mall in Karachi. Pakistan’s main stock market has gained 72 percent since the 2013 election that brought the government of Prime Minister Nawaz Sharif into power, according ... Read More »

Punjab budget focuses on maximum for masses: Dr Ayesha

LAHORE: Punjab Finance Minister Dr Ayesha Ghouse Pasha Saturday said that the main focus of the provincial budget 2015-16 was on ensuring maximum ease for the poor, youth empowerment, overcoming energy crisis, increased agricultural produces, infrastructural development and a viable tax regime. Addressing the post-budget press conference here, she said that the salient features of Punjab’s economic growth strategy were:raising ... Read More »

Steps being taken for uninterrupted power supply in Sehar, Iftar: Minister  

FAISALABAD: State Minister for Water and Power Chaudhary Abid Sher Ali has said all possible steps are being taken to provide uninterrupted power supply to consumers during Sehar and Iftar in Ramzan. Speaking at inauguration ceremony of expansion project of Transformer Reclamation Workshop of Faisalabad Electric Supply Company (Fesco) here on Saturday, he said all grid stations and other installations ... Read More »

‘Punjab Budget 2015-16 to bring prosperity in province’: Ranjha

SARGODHA: Punjab Budget 2015-16 is balanced and people-friendly, which would bring prosperity in the province. Talking to APP on Saturday, Parliamentary Secretary on Kashmir and Gilgit Baltistan Ch. Hamid Hameed and District president PML-N Shahnawaz Ranjha said that projects like self-employment, orange line would open a new era of progress and prosperity in the province. They said the allocation of ... Read More »

Steps for agriculture improvement hailed

LAHORE: The Punjab government’s steps for strengthening the agriculture sector were reflective of the PML-N sincere efforts to put the country on the road to progress. This was stated by progressive farmer from Okara Hameed Sultan while talking to APP on Saturday. He said the agriculture sector was a backbone of national economy and the sector just needed proper attention ... Read More »

Sindh Revenue Board exceeds budgetary targets, collects Rs 49m

KARACHI: Sindh Revenue Board has emerged to be the tax authority that has exceeded its budgetary targets by collecting Rs 49 billion, above 24 percent from last year, said the Finance Minister for Sindh, Syed Murad Ali Shah on Saturday. Citing the performance of STB as exemplary, the Minister in his budget speech said that despite a reduction in the ... Read More »

Sindh Budget 2015-16: Govt reduces sales tax on services from 15% to 14%

KARACHI: Sales tax on services has been reduced from 15 percent to 14 percent, while the education and medical services have been absolutely exempted from it in Sindh during fiscal year 2015-16. Sindh Finance Minister in his budget speech said that increase in the lower rate of the sales tax will also be ensured from 5 percent to 6 percent ... Read More »

South Punjab gets special priority in budget: Channer

LAHORE: Special priority has been given to South Punjab in the new budget which is reflected from allocation of 36 percent of total development budget for this region. Provincial Minister for Social Welfare Syed Haroon Ahmed Sultan Bukhari and Cooperative Minister Malik Muhammad Iqbal Channer said here on Saturday. They said that this budget is four percent more than the ... Read More »

Govt focusing on rural areas, health, education, skill development: Ayesha

ISLAMABAD: Finance Minister of Punjab, Dr Ayesha Ghous Pasha on Saturday said that Pakistan Muslim League Nawaz (PML-N), government was focusing on rural areas, health, education and skill development sectors to achieve progress for the people of this country. Talking to Pakistan Television, she said that a sufficient amount was allocated in the budget for improving health, quality education, road ... Read More »

Ishaq Dar meets delegation of PBA, APNS and CPNE

ISLAMABAD: Federal Finance Minister Mohammad Ishq Dar met a delegation of the Pakistan Broadcasters Association, APNS and CPNE which among others included Mr. Hamid Haroon, Mr. Mujeeb ur Rehman Shami, Mr. Rehmat Ali Razi, Mr. Arshad Zuberi, Mr. Jamil Ather, Mir Ibrahimur Rehman, Dr. Basit Riaz Sheikh, Mr. Bilal Lakhani and Mr. Naveed Kashif. The delegation discussed with the Finance ... Read More »

iPhone’s new iOS 9 update to identify ‘mystery callers’ for you

iPhone updates are normally concerned with bug fixes or developments for the Apple watch – but the iOS 9 update could actually be really useful. According to reports, the update includes a new feature that will help identify unknown numbers. So goodbye annoying recruiters and mates trying to bully you into getting drunk on a Sunday evening. iOS 9 will anonymously ... Read More »

Federal budget 2015-16 defies economic vision, says KCCI

KARACHI: The budget 2015-16 has major relief measures for the agriculture, corporate sector and for the industries in Khyber-Pakhtunkhwa, but it has brought an additional burden of indirect taxes, a Karachi Chamber of Commerce and Industry (KCCI)  press release said. The press release further stated that on the positive side, the Federal Board of Revenue (FBR) has been deprived of ... Read More »

KSE surpasses 34,600 points on 5th bullish day

ISLAMABAD: Karachi Stock Exchange recorded bullish trade for fifth straight day on Friday as institutional investors remained on the buying side as part of the post-budget bullish rally which has injected over 600 points into the main index. The benchmark KSE 100-Index gained 0.16 percent or 56.59 points to 34,651.29 points on Friday when compared with 34,594.70 points on Thursday. ... Read More »

Govt asked to withdraw new taxes from poultry industry‏

MULTAN: The Pakistan Poultry Association has demanded that federal government should withdraw the newly imposed sales tax and import duty from the poultry industry. Addressing a press conferenc, the Pakistan Poultry Association South Punjab Representatives, Mir Tahir Zaidi, Dr Azhar Mehmood and Mehr Ghazanfar, said that poultry industry is an organized sector in Pakistan and is providing 40 percent meat ... Read More »

Foreign reserves to be raised to US$ 19 billion by end of year :Dar

ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar that due to prudent economic policies of the government the country ‘s economy was on the path of stabilization adding that foreign exchange reserves would be enhanced to US $ 19 billion by the end of this calendar year.  He stated this while addressing the post budget 2015-16 conference of Institute of ... Read More »

Pakistan eager to secure first ever-order for the JF-17 at Paris Air Show

PARIS: All eyes will be on the sky at the International Paris Air Show with flying displays by around 40 aircraft each day, including fighter jets such as Pakistan’s new JF-17 Thunder, France’s Rafale, and Ukraine’s Antonov 178. Pakistan is eager to secure its first-ever order for the JF-17 at the international event as Canada’s Bombardier is particularly hungry for ... Read More »

Nawaz inaugurates Pakistan’s largest oil refinery

HUB – Prime Minister Nawaz Sharif on Friday said that his government was committed to sustained availability of fuel and energy supplies in Pakistan to ensure accelerated growth in all areas. He was addressing the inauguration of country’s largest oil refinery complex with a crude oil refining capacity of 120,000 barrels per day, fulfilling around 39 percent of country’s energy ... Read More »

NAB investigating embezzlement of funds worth millions of rupees in Sindh Information Department

KARACHI: The National Accountability Bureau (NAB) is investigating embezzlement of funds worth millions of rupees in Information and Archives Department of the Sindh government, sources said. In a bid to escape his arrest, Secretary Information and Archives Zulfikar Shalwani has sought pre-arrest bail from the Sindh High Court which was approved on surety bonds of Rs 500,000. The secretary prayed ... Read More »

Moody’s upgrades Pakistan’s credit rating to B3: Dar

ISLAMABAD: Moody’s Investor Service has upgraded Pakistan’s sovereign credit rating by a notch, from Caa1 to B3, Federal Finance Minister Ishaq Dar announced on Thursday in the National Assembly. According to Dar, Moody’s had downgraded the country’s credit rating to Caa1 on July 13, 2012. The outlook for the rating back then was negative. A sovereign with a Caa rating ... Read More »