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Tag Archives: Nawaz Sharif

Imran, Qadri sit-ins: Economy suffers Rs 900b loss

ISLAMABAD: Senator Mushahidullah Khan on Tuesday claimed that sit-ins and protest demonstrations by Imran Khan and Tahirul Qadri had cost the national exchequer Rs 900 billion. Earlier, Commerce Minister Khurram Dastgir had claimed that the direct losses to the national economy due to the protest demonstrations stood at Rs 800 billion. While talking to this scribe here, the chairperson of ... Read More »

Midday: KSE loses 112 points  

KARACHI: Karachi Stocks Exchange (KSE) 100-Index lost 112 points till noon due to political uncertainty prevailed in the country. KSE 100-index once touched 28603 mark in start of the trading but could not sustain the momentum. Till mid-day, Index shed 112 points as confusion still persisted in the capital about the outcome of ongoing sit-ins of Imran Khan and Tahirul Qadri, ... Read More »

KSE drops 352 points amid Imran, Qadri sit-ins

KARACHI: The Karachi Stock Exchange (KSE) 100-index dropped 352.41 points on Monday to stand at 28519.34 points on the first day of the new business week because of Imran Khan and Tahirul Qadri’s sit-ins, demanding resignation of Prime Minister Nawaz Sharif. The stock market opened at 28871.7 points after two days of closure on the weekend. During the whole day ... Read More »

Implications of political chaos

LAHORE (AFTAB AFZAL RANJHA): If a strong industrial-base ensures welfare of the people, a strong political system guarantees a conducive environment for the industrial growth. However, in Pakistan, if we go one step ahead towards economic well-being, we take two steps back towards political disaster and this vicious circle has been going on in the country since independence. The current ... Read More »

Lashari urges govt, PTI to end deadlock

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Sohail Lashari said that government and protesters should end deadlock and negotiate on mutual terms in the larger interest of economy which is suffering mainly from prevailing political disturbance. In an exclusive talk with Customs Today on current situation, he advised the government not to use power against demonstrators as he ... Read More »

Imran, Qadri marches: Rupee continues to lose value against dollar

KARACHI: Pakistani rupee continued to lose value as it plummeted 70 paisas against US dollar in the inter-bank market as later touched the Rs 101.10 mark. Traders and businessmen are worried due to this political standoff because this situation would further curtail the value of local currency against dollar. Analysts reflected that if the current political scenario continued to prevail ... Read More »

Economy suffers as Qadri takes sit-in into Red Zone

ISLAMABAD: Imran Khan’s call for civil disobedience has sparked anger amongst the business community as economy has already suffered billions of rupees losses in a few days of political standoff. The Karachi Stock Exchange lost 222 points on Tuesday as panic and fear gripped the shareholders. On another note, Tahirul Qadri’s call to his die-hard supporters to march towards Red ... Read More »

PM lauds Dar’s effort in obtaining WB approval of loans

ISLAMABAD: Prime Minister has appreciated Finance Minister Ishaq Dar and his team for achieving World Bank’s approval for financing the Dasu Hydropower Project of 4,500 MW. Out of $700 million loan, $600 million would be utilised for the Dasu Project while remaining funds would be utilised for the uplifting of irrigation projects in Sindh province. The Premier remarked that it ... Read More »

PAC acts as watchdog to check corruption: Mian Abdul Mannan

ISLAMABAD: The all-powerful Public Accounts Committee of the National Assembly acts as a watchdog to keep an eye on government accounts and ensure transparent utilisation of each and every penny of the public exchequer. The PAC monitors corruption and anomalies in the affairs of different ministries and seeks explanation from the quarters concerned whenever and wherever detects any irregularity. Public ... Read More »

Gwadar port can handle ships of 50,000 DWT

ISLAMABAD: Minister for Ports and Shipping Kamran Michael said that Gwadar port can handle ships of 50,000 deadweight tonnage (DWT), making it easier for importers to ship maximum cargo on a single large ship. He said that nine projects costing $1.7 billion were approved by the Prime Minister to make Gwadar port functional. Gwadar port, the third deep-sea port of ... Read More »

FPCCI laments multiple jurisdictions for assessment of taxpayers

KARACHI: Zakaria Usman, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Federal Board of Revenue (FBR) to immediately withdraw the SRO 351(I)/2014 dated 7-5-2014 conferring upon the officers of the Directorate General Intelligence & Investigation (I&I) of Inland Revenue the additional powers to ensure enforcement of specified provisions of the Income Tax Ordinance, 2001 like ... Read More »

Gwadar ‘free port’ to be a game changer for whole region: Nawaz

GAWADAR: Prime Minister Nawaz Sharif on Thursday said the current government plans to develop Gwadar as a ‘free port’ on the lines of Dubai, Singapore and Hong Kong ports. The Planning Commission has been tasked with an exercise to hire international consultants for this purpose. The Prime Minister said the government had a broad-based plan for the development of Gwadar ... Read More »

FBR briefing to PM to be held by a day’s lapse

ISLAMABAD: Prime Minister Nawaz Sharif will be briefed on March 11 by Federal Board of Revenue about measures taken so far in tackling revenue shortfall in the current fiscal year as less than four months remain in fiscal year 2013-14 conclusion. He will also be briefed about steps in restraining smuggling and customs duty evasion. Federal Board of Revenue Chairman ... Read More »

Tax directory: 100 MPs yet to file their tax returns

ISLAMABAD: At least 100 out of 1,172 parliamentarians belonging to all political parties did not pay their taxes as per the tax directory of MPs issued by Federal Board of Revenue (FBR).  “To date, all the parliamentarians have obtained NTNs and out of a total of 1,172 parliamentarians, 1,072 have filed their income tax returns for the tax year ending ... Read More »