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CNPC provides US$100,000 to MinNFS&R for controlling locust

ISLAMABAD: China National Petroleum Corporation (CNPC), a state-owned Chinese company on Tuesday provided US$100,000 to Ministry of National food Security and Research in order to strengthen its efforts against desert locust. The cheque of US$100,000 was handed over to the Federal Minister for National Food Security and Research Syed Fakhar Imam in ceremony which was also attended by Chinese Ambassador, ... Read More »

KPT shipping intelligence report August 18

KARACHI — The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Tuesday. ALONG SIDE (Bulk Oil Pier) OP-I Hafnia Africa D. Mogas Alpine 24/03/19 OP-II Pike D. Mogas Alpine 25/03/19 ALONG SIDE (East Wharves): 1 Navig8 Sirius D. Chemical Gac 25/03/19 2 Palomar D. Jet Oil East Wind 25/03/19 10/11 ... Read More »

Multan Customs requests BMP to hand over three luxury vehicles worth Rs23m

MULTAN: Collectorate of Customs Enforcement & Compliance (E&C) has requested Baluchistan Military Police (BMP) to hand over custody of three seized luxury vehicles worth Rs23 million from Dera Ghazi Khan region. Sources told Customs Today that Multan Customs Anti-Smuggling Organization Dera Ghazi Khan received information that Baluchistan Military Police thwarted attempt of smugglers to transport non-duty paid vehicles in Punjab. ... Read More »

USD gains 11 paisa against rupee in interbank

KARACHI : The exchange rate of US Dollar strengthened by 11 paisa in the interbank on Wednesday against Pakistani rupee. The greenback was being traded at 168.30 rupees on third business day of the week.   Read More »

M/s Kausar Ghee Mills moves SHC against demand of non-utility fees of Rs4m

KARACHI: M/s Kausar Ghee Mills Pvt Ltd has approached The Sindh High Court (SHC) against demand of non-utility fees Rs4 million issued by Director Industrial Management Development Secretariat Port Qasim Authority Karachi. On 18 August 2020, counsel for the petitioner stated in his constitutional petition that plot No G-11 measuring 10 acres of land situated in Eastern Industrial Zone (EIZ) ... Read More »

Asian stocks at seven-month highs after Wall Street cracks more records

SYDNEY: Asian shares climbed to a seven-month peak on Wednesday tracking the S&P 500, which scaled all-time highs driven by ever expanding policy stimulus aimed at cushioning the blow to economies from the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside of Japan rose 0.3%, up for a third straight day to 570.80 points, a level not seen since ... Read More »

Customs Court approves after arrest bail of suspects in goods smuggling case

KARACHI: The Customs Court granted after arrest bail to suspects namely Muhammad Imran son of Niaz Ahmed and Nasir Abbas son of Manzoor Hussain, who were nominated in a case of attempting to smuggle non-duty paid smuggled betel nuts etc. On 18 August 2020, during the hearing, Mrs Samia Durrani, advocate for the applicants and Ch Saeed-uz-Zaman, special prosecutor for ... Read More »

FBR to take action against retailers for avoiding mandatory integration

ISLAMABAD: Federal Board of Revenue (FBR) has decided to take action against retailers having huge turnovers for not complying with mandatory integration with the online system of the tax authority. In this regard the FBR directed the retailers, who are required to integrate their sales and purchases under Sales Tax Act, 1990, to link their invoicing system by August 31, ... Read More »

PSO launches High-Octane 97, Euro-V fuels for eco-friendly vehicles

ISLAMABAD: The state-owned Pakistan State Oil (PSO) has become the first oil marketing company (OMC) to upgrade Pakistan’s fuel standard from Euro-II to Euro-V. The federal government has fulfilled its promise by launching high-quality and environment-friendly fuels including High Octane Blending Component (HOBC) also known as RON 97 and less emitting Euro-V diesel. Omar Ayub Khan lauded the flagship OMC ... Read More »

Govt to raise funds by issuing new Sukuk

KARACHI: The government has decided to generate funds through Islamic mode by reopening of Sukuk and in this regard the State Bank of Pakistan (SBP) issued necessary instructions and guidelines. According to the details, the SBP said that subsequent to the issuance of first Ijarah Sukuk issue if the government is in need of additional funds and instead of issuance ... Read More »

Multan RTO to hold e-katcheri every month to resolve issues of taxpayers

MULTAN: The Federal Board of Revenue (FBR) has decided to conduct e-katcheri every month in all regional tax offices including Regional Tax Office Multan. A taxpayer of Regional Tax Office Multan has been facing multiple issues regarding filing income tax returns due to global outspread of Covid-19. Multan Tax Bar Association has demanded Federal Board of Revenue to organize e-katcheri ... Read More »

NAB recovers Rs28.108b during last two years

ISLAMABAD: National Accountability Bureau (NAB) has directly recovered Rs 28.108 billion from various corrupt elements and deposited into the national exchequer during last two years. Two years performance report of the Government led by Pakistan Tehreek-e-Insaf (PTI) from August 2018 to June 2020, released here on Tuesday said the anti-corruption watchdog has also indirectly recovered Rs 335.810 billion during the ... Read More »

Court approves interim bail to K-Electric official in electrocution death case

KARACHI: District Court (South) on Wednesday granted pre-arrest bail to K-Electric (KE) distribution head Amir Zia in a case regarding death of a youth by electrocution. The FIR of the death of 19-year-old Faizan, who was electrocuted in recent rainfall in Karachi, was registered at Defence police station. The chief executive officer and other senior officials of the power utility ... Read More »

ADB for promoting multiple modes of transport for freight in Pakistan

ISLAMABAD: The Asian Development Bank has stressed promotion of multiple modes of transport for freight in Pakistan including Railways and inland waterways to reduce time and cost of trade along Central Asia Regional Economic Cooperation (CAREC) member countries. The ADB’s annual report titled “Carec Corridor Performance Measurement and Monitoring” suggested that greater adoption of freight on rail and inland waterways ... Read More »

SBP raises loan limit for women entrepreneurs under refinance scheme

KARACHI: Aimed at encouraging women participation in the economy, State Bank of Pakistan (SBP) on Tuesday announced to enhance the financing limit under its Refinance and Credit Guarantee Scheme for Women Entrepreneurs from Rs1.5 million to Rs5 million. According to a press release issued by the central bank, the decision was taken in light of feedback received from various stakeholders ... Read More »

PSX gains 61.50 points to close at 40184.01 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed a bullish trend as KSE-100 closed at 40184.01 points as compared to 40122.50 points on the previous working day with positive change of 61.50 points (0.15%). Head of Equity, InterMaket Securities Pvt Ltd, Raza Jaffari said while talking to APP, cements were strongly in plus but index remained flattish due to pressure in other ... Read More »

Gold price rises Rs2,900 to Rs122,300 per tola

ISLAMABAD: The price of 24-karat gold increased by Rs2,900 on Tuesday and was traded at Rs122,300, as against its previous close at Rs119,400, Karachi Sarafa Association reported. Likewise, the price of 10-gram gold increased by Rs2,487 to Rs104,853, as compared to its previous day’s sale at Rs102,366. The price of per-tola silver witnessed an increase of Rs60 and was traded ... Read More »

FBR notifies transfer & postings of 5 PCS officers of BS-19-20

ISLAMABAD: Federal Board of Revenue (FBR) has issued notification for transfer and posting of following officers of Pakistan Customs Service (BS-19-20) with immediate effect and until further orders: Mohammad Iqbal Bhawana, Collector Customs Adjudication-II, Karachi in addition to his own duties will also look after the charge of Collector, Collectorate of Customs Adjudication-I, Karachi till the posting of a regular ... Read More »

Chairman Missing Persons Commission Justice Javed Iqbal settles 4616 cases up to July 30

ISLAMABAD: Missing Persons Commission has disposed of 4616 cases up to July 30, 2020 as per monthly progress report of mission persons released by Secretary on cases of alleged enforced disappearances up to July 30, 2020. According to the details, a total number of 6686 cases were received by the Missing Persons Commission up to June 2020. During July 2020, ... Read More »

Incumbent govt reduced expenditures for first time in history: Hafeez Shaikh

ISLAMABAD: Finance Adviser Dr. Abdul Hafeez Shaikh Tuesday told that loans of Rs 5,000 billion – taken by the erstwhile governments – have been given back by the incumbent government which gave incentives to increase exports and reduced expenditures for the first time in the country’s history. The finance adviser addressed a press conference along with other Pakistan Tehreek-e-Insaf (PTI) ... Read More »