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Author Archives: CT Report

NAB chairman reviews proactive anti-corruption strategy

NAB Qamar Zaman Chaudhry

ISLAMABAD: NAB Chairman Qamar Zaman Chaudhry says the bureau has established forty-two thousand Character Building Societies in universities and colleges to make the youth aware of ill effects of corruption at early age. Chairing a meeting to review NAB’s proactive Anti-Corruption Strategy in Islamabad on Thursday, he said the organization has adopted zero tolerance policy for a corruption free Pakistan. Read More »

NLC rejects FIA report on oil theft cases


ISLAMABAD: The National Logistics Cell (NLC) has categorically rejected a report of the Federal Investigation Agency (FIA) regarding alleged involvement of the NLC-owned bowszers in oil theft and said that a highly technical inquiry was conducted by non-technical person that raises doubts about the credibility of the report. A spokesman for the NLC has categorically rejected findings of the FIA ... Read More »

FDI exceeds to $2b during July to May 2016-17: BOI


ISLAMABAD: Board of Investment (BoI) on Thursday said the Foreign Direct Investment (FDI) had exceeded to $ 2 billion during July to May 2016-17, up 22.6 percent increase as compare to previous year. The Board of Investment (BoI) would be reviewed the investment strategy 2013-15 in light of new realities for evolving the mechanism for modernization and staff capacity building ... Read More »

Performance allowance of five Customs officers of BS-16 restored


ISLAMABAD: The performance allowance in respect of five Pakistan Customs Service officers of BS-16 has been restored on completion of their declaration of assets. The performance allowance, (equivalent to 100 per cent of basic pay) in respect of the said officers, which was discontinued vide FBR’s Notification No2III -C-III/2015 09.09.2015. According to the notification, the officers whose performance allowance was ... Read More »

NIT announces interim results for FY 17


KARACHI: National Investment Trust Limited (NITL), the largest asset management company of Pakistan, has declared interim distribution for all funds under its management for the year ending June 30, 2017. The Board of Directors earlier approved the interim distribution for all funds under its management, says NITL statement here on Thursday. NITL is presently managing ten funds with assets under ... Read More »

APTMA to organize textile convention in second week of next month


ISLAMABAD: All Pakistan Textile Mills Association (APTMA) will organize textile convention along with all textiles associations of the country in second week of July. In textile convention APTMA, including all textile industries will hold consultation and consensus for future plan of action for the growth of the industry in country, Secretary General, APTMA, Anis ul Haq told APP here on ... Read More »

Beijing, Minsk for business cooperation, trade development


KARACHI: Beijing is willing to constantly push the business cooperation, communication and trade investment development with Minsk. This was asserted by head of Beijing delegation and vice-chairman of China Council for the Promotion of International Trade Beijing Sub-Council (CCPIT Beijing) Li Luxia at the Beijing-Minsk Business Cooperation Promotion Fair, which was held in Minsk on June 21, said a press ... Read More »

ASF seizes contraband from passenger at Islamabad airport

Benazir International airport

RAWALPINDI: The Airport Security Force (ASF) seized contraband from a local heading to Bahrain via a private airline at Benazir Bhutto International Airport, here on Thursday. According to the ASF, 1 kilogramme of ice and heroin were seized from a passenger identified as Saeed Shah, in the operation at Benazir Bhutto International Airport. “Shah, who hails from Mardan, was hiding ... Read More »

NAB recovers Rs287b so far: MM Waqar


PESHAWAR: Additional Director Awareness and Prevention Wing NAB Khyber Pakhtunkhwa Mian Muhammad Waqar on Thursday said the bureau has so far recovered Rs 287 billion in different scams and distributed among affectees. Addressing a seminar held here at District Buner on Anti-Corruption, he said society can help NAB in arrest of proclaimed offenders and absconders, who he said are over ... Read More »

NAB gives Rs12.61m to 40 affectees


LAHORE: National Accountability Bureau (NAB) Lahore on Thursday gave cheques amounting to Rs 12.61 million to the 40 affectees of money doubling scam and Qasr-e-Zauk. In this regard a formal cheques distribution ceremony was held at NAB office Lahore. Speaking on the occasion, the DG NAB said that the Bureau was strictly pursuing “Zero Tolerance Policy” against corruption for corruption ... Read More »

ATMs closure, Banks keep tradition alive despite SBP directives


RAWALPINDI: Despite clear directives of State Bank of Pakistan (SBP) to ensure uninterrupted working of automated teller machines (ATMs) especially during the last week of Ramazan and before and on the eve of Eid-ul-Fitr, banks kept the tradition alive as majority of the ATMs were found closed or out of order on Thursday in various parts of the city. A ... Read More »

USA announces $25m for ‘Food for Peace’ in Pakistan


ISLAMABAD: , June 22 (APP): United States government has announced a donation US$ 25 million by the ‘Food for Peace’ Office of the US Agency for International Development (USAID), and will allow WFP to carry on with programmes providing food, cash and education for families in the poorest parts of Pakistan. The donation will be used for improving the nutrition ... Read More »

Banks to remain open for extended hours on 30th for tax collection


KARACHI: State Bank of Pakistan (SBP) has announced that commercial banks will remain open for extended hours on June 30, 2017 to facilitate the collection of duty and taxes. The SBP said that in order to facilitate the collection of Government duties / taxes, commercial banks will remain open their clearing related branches on June 30, 2017 (Friday) till such ... Read More »

Customs alerts on killer-rice


WASHINGTON: The Oyo/ Osun Area Command of the Nigeria Customs Service (NCS) yesterday alerted Nigerians that poisonous and deadly bags of rice are being sold in the open market. The NCS said some unpatriotic elements conspired with some importers to smuggle the expired and deadly rice into the country via land borders. Hundreds of bags of rice said to be ... Read More »

Hudson Valley unemployment rate unchanged in May


WASHINGTON: An estimated 200 fewer workers were unemployed in the Hudson Valley in May, according to preliminary figures released by the state Department of Labor, but the unemployment rate held steady at 4.1 percent. About 45,900 people were unemployed in the seven-county region last month, compared to 46,100 in April. The labor picture was better a year ago, with 2,000 ... Read More »

China, Cambodia jointly seizes 1.1 tons of cocaine


SHANGHAI: Shanghai customs said Thursday that Chinese and Cambodian law enforcement authorities jointly seized 1.1 tons of cocaine and detained four drug trafficking suspects late last year. It is the largest amount of cocaine seized in recent years, they said. They said the case was not made public earlier because it was quite complicated and there were international drug traffickers ... Read More »

China bad debt prices up 30% as new gold rush get under way

bad debt

BEIJING: Bad loans are rapidly becoming the latest hot commodity in China as more domestic and foreign investors rush into the market and bid up prices. Non-performing loan prices have risen more than 30 percent this year, according to distressed investor Belos Capital Asia Ltd. The average selling price of NPLs has climbed to around 50 cents on the dollar ... Read More »

Turkey’s debt to GDP ratio below most EU countries


ANKARA: Turkey’s public debt in relation to gross national product (GDP) was below 26 out of 28 countries in the EU and the Eurozone last year, figures from Eurostat and the Treasury reveal. The EU’s public debt to GDP ratio was 83.5 percent in 2016, while the Eurozone countries had a rate of 89.2 percent. Thanks to financial discipline and ... Read More »

China bank non-performing loan ratio dropped slightly at end May

soft loans

BEIJING: The non-performing loan (NPL) ratio for all Chinese banks stood at 1.99 percent at the end of May, down 0.16 percentage points from the same period last year, Liu Zhiqing of the China Banking Regulatory Commission told reporters on Thursday. The ratio covers all Chinese banks, including policy lenders.The more commonly reported NPL ratio for commercial banks was 1.74 ... Read More »

Russia’s Gazprom sees gas export revenues at $32-34 bln in 2017


MOSCOW: Russia’s largest natural gas producer Gazprom sees revenues from gas exports at $32-34 billion this year, Gazprom Deputy Chief Executive Andrei Kruglov told reporters on Thursday. He said earlier on Thursday that Gazprom planned to export at least 178 billion cubic metres of gas to non-CIS countries this year. Alexander Ivannikov, a department head at Gazprom, told the same ... Read More »