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Author Archives: CT Report

Pak Rupee appreciates by three paisas against US dollar

KARACHI: The Pak Rupee appreciated by three paisas against dollar on Friday owing to reduction in current account deficit. The rupee ended Rs154.20 to the dollar from previous day’s closing of Rs154.23 in interbank foreign exchange market. Currency dealers said that market sentiments were remained high owing to narrowing current account deficit of the country. Pakistan’s current account deficit narrowed ... Read More »

World stocks follow Wall Street lower on renewed virus fears

BEIJING: Global stock markets followed Wall Street lower Friday after a spike in new virus cases in South Korea refueled investor anxiety about China’s disease outbreak. Benchmarks in Tokyo, Hong Kong and Sydney retreated and London and Frankfurt opened lower. Shanghai advanced. Traders shifted money into bonds and gold, a traditional safe haven. Bond markets are “sounding a warning on ... Read More »

Shipping activity at Port Qasim

KARACHI: Nine ships Maersk Bentonville, CMA CMG Al-Maviva, Smile Lady, Kobe Star, Tyana, Jay, Gulf KARACHI, (APP – UrduPoint / Pakistan Point News – 21st Feb, 2020 ):Nine ships Maersk Bentonville, CMA CMG Al-Maviva, Smile Lady, Kobe Star, Tyana, Jay, Gulf Mist, Kazak and Staling scheduled to load/offload Containers, Cement, Soya Bean, Coal, Chemicals, LPG and Diesel oil were arranged ... Read More »

PFA discards 4,600 liters of adulterated milk in Lahore

LAHORE: The Punjab Food Authority (PFA) on Friday continued its action against the adulterated mil suppliers in Lahore. As per details, the PFA discarded 4,600 litres of adulterated milk during checking in Lahore during snap checking in the city. As many as 1,562 vehicles loaded with approximately 17,500 litres of milk were checked during the drive, from which 4,600 litres ... Read More »

Workers protest against shifting of soybean ship from Karachi Port

KARACHI: Laborers on Friday have staged protest against shifting of soybean ship from Karachi Port to Qasim Port for offloading in order to avoid further emission of dust in the area. According to details, the workers have blocked roads leading to the port and demanded the local authorities to restore the unloading process. Earlier, Commissioner of Karachi had forwarded a ... Read More »

FBR rejects proposal of reducing GST on sugar

ISLAMABAD: The Federal Board of Revenue (FBR) has reportedly rejected the proposal of reducing GST on sugar arguing that the move will only increase profits of influential industry owners. According to media, the Government is contemplating upon different options to reduce the price hike and different proposals are under consideration, including slashing down the GST rate on sugar from 17 ... Read More »

Pakistan thanks China on support in FATF meetings

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue met Yao Jing, Ambassador of the People’s Republic of China to review the preparations of the upcoming visit of the Chinese President Xi Jinping. The meeting took place on the instructions of the prime minister as the government has attached significant importance to this meeting. The Adviser and the Ambassador ... Read More »

17 new oil & gas exploration blocks await security clearance

ISLAMABAD: The Petroleum Division has forwarded around 17 onshore oil and gas exploration blocks to the quarters concerned for getting security clearance and subsequently initiating the activities to discover hydrocarbon reserves in all four provinces of the country. The new exploration areas consisted of Block-2668-23 (Khewari East), spanning over 1451.23 Square Kilometer (Sq. Km) area in Sindh, Block-2966-2 (Chah Bali), ... Read More »

Director Irfan Javed’s Gwadar Customs thwarts attempt to smuggle HSD

GWADAR: Directorate of Customs Intelligence & Investigation team foiled attempt to smuggle 152,420 liters of diesel/kerosene oil, which was being transported in the garb of white oil cleared from Collectorate of Customs Quetta. According to the details, Director Irfan Javed received credible information that un-scrupulous elements had cleared huge quantity of foreign origin diesel/kerosene oil in the garb of white ... Read More »

PSX plunges 92.87 points to close at 40,481 points

ISLAMABAD: The Pakistan Stock Exchange (PSX) Thursday registered bearish trend as KSE 100 index closed at 40,481 points as compared to 40,574 points on the last working day with the negative change of 92.87 points (0.23%). A total of 83,552,650 shares were traded compared to the trade 109,559,610 shares during the previous day, whereas the value of shares traded during ... Read More »

Gold price remains stable at Rs92,500

KARACHI: The per tola price of 24 karat gold remained stable on Thursday and was traded at Rs92,500 per tola and that of 10 gram gold was traded at Rs79,304, Karachi Sarafa Association reported. The price of silver also remained constant and was traded at Rs 1050 and that of 10 gram silver was traded at Rs900.20. In international market, ... Read More »

Medicinal imports dip over 9pc in seven months

ISLAMABAD: The imports of medicinal products into the country during the first seven months of financial year (2019-20) dipped by 9.95 percent as compared to the corresponding period of last year. Pakistan imported medicinal products of worth $590.783 million during July-January (2019-20) compared to the imports of $656.080 million during July- January (2018-19), showing negative growth of 9.95 percent, according ... Read More »

PSO partially resumes fuel supplies from Kemari Oil Terminal

KARACHI: Pakistan State Oil (PSO) on Thursday partially resumed fuel supplies from the Kemari Oil Terminal in the city after 48-hours closure owing to leakage of mysterious gas in the area. PSO spokesperson announced that the state-owned multinational petroleum corporation resumed limited fuel supplies to the city after the rumours of petroleum supplies’ suspension caused panic among masses in the ... Read More »

Pak Rupee gains three paisas against dollar

KARACHI: The Pak Rupee gained three paisas on Thursday against dollar owing to shrinking current account deficit. The rupee ended Rs154.23 to the dollar from previous day’s closing of Rs154.26 in interbank foreign exchange market. Currency dealers said that market sentiments were high owing to narrowing current account deficit of the country. Pakistan’s current account deficit narrowed by 72 percent ... Read More »

100 accused seek relief under the amended NAB ordinance

ISLAMABAD: Around 100 graft suspects have sought relief under the National Accountability Bureau (NAB) Amendment Ordinance 2019. A number key politicians and former bureaucrats have sought disposal of corruption cases against them in petitions filed in courts. President Arif Alvi on Dec 27 last year, promulgated the NAB (amendment) Ordinance 2019. According to the official document, so far only three ... Read More »

Envoy advises Karachi’s businessmen to visit Morocco at least twice a year

KARACHI: Ambassador of Kingdom of Morocco Mohammed Karmoune, while referring to meager trade volume between Pakistan and Morocco, advised the Business & Industrial Community of Karachi to arrange trade delegations’ visit at least twice a year in order to explore trade and investment opportunities in Morocco which is the gateway to the African region. Speaking at a meeting during his ... Read More »

JICA agrees to further strengthen cooperation in trade, economic progress

ISLAMABAD: President Japan International Cooperation Agency (JICA) KITAOKA Shinichi called on Foreign Minister Shah Mahmood Qureshi. He apprised the Foreign Minister about ongoing cooperation of the Agency with Pakistan in diverse fields including education, health and human and social development. They agreed to further enhance this cooperation in trade and economic development. Appreciating JICA for its support to Pakistan in ... Read More »

Oil up on slowing pace of coronavirus, Venezuela sanctions

LONDON: Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a US move to cut more Venezuelan crude from the market. Brent was up $0.71 at $58.46 a barrel at 1510 GMT. The global benchmark has risen nearly 10% since falling ... Read More »

Federal & Balochistan govts agree to resolve energy issues amicably

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr.Abdul Hafeez Shaikh chaired the meeting here at the finance division to review various energy sector issues that were pending between the federal government and the Government of Balochistan for many years. Balochistan Government was represented by secretary energy department Balochistan, and federal government was represented by the minister for ... Read More »

KPT shipping intelligence report Feb 20

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Thursday. ALONG SIDE (Bulk Oil Pier) OP-II Al Salam-II D. Jet Oil Wilhelmsen 20/02/20 ALONG SIDE (East Wharves): 1 Sky Ploeg L. Ethanol East Wind 18/02/20 10/11 Hercules D. Meal Alpine 15/02/20 11/12 Senanur Cebi D. Clinkrs Crystal Sea 20/02/20 ... Read More »