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Author Archives: CT Report

FBR detects undeclared foreign assets of 152,201 Pakistanis: Chairman Jehanzaib Khan

FBR chairman Jahanzeb

ISLAMABAD: Federal Board of Revenue (FBR) have identified 152,201 Pakistani nationals with undeclared assets abroad. This was stated by FBR Chairman Jehanzeb Khan during the first meeting of the ‘FBR Policy Board’ created under the FBR Act, 2007. The meeting was presided over by Finance Minister Asad Umar. The FBR chairman gave a detailed briefing on the working of the ... Read More »

Appraisement East collects Rs7611.38m during first ten days of February

Appraisement East collects Rs7611 38m during first ten days of February copy

KARACHI: Collectorate of Customs Appraisement East collected Rs7611.38 million during first 10 days of February 2019 under heads of all duty and taxes. According to details, Appraisement East collected Rs 2748.75 million under the head of customs duty (CD), Rs 2847.57 million as sales tax (ST), Rs 1948.58 million as income tax (IT) and Rs 66.48 million as federal excise ... Read More »

FBR withdraws 2pc RD imposed on import of ferrous & non-ferrous waste

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ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn the 25 percent regulatory duty imposed on the import of ferrous and nonferrous waste, lead unwrought, lead scarf, copper waste, lead sheet, wires, lead powder and lead plates under the Duty & Tax Remission scheme and Manufacturing Bond scheme, it is learnt here. Official sources told Customs Today that FBR with consultation ... Read More »

FBR, WHO to formulate new policy to check quality of tobacco

fbr

ISLAMABAD: The Federal Board of Revenue (FBR) is working, in collaboration with the World Health Organisation (WHO), to formulate a new policy to check the quality of tobacco in order to prevent the spread of various diseases, a Senate committee was informed on Tuesday. This was stated by FBR Member Inland Revenue Hamid Atiq Sarwar during Senate Special Committee meeting. ... Read More »

Renewable energy would bring manifold benefits to national economy: RCCI

RCCI president Malik Shahid Saleem and CEO Muhammad Qasim of NINGBO green Light Solar signed and exchange MOU documents at Chamber House Rawalpindi.

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) has stressed upon the government to focus on renewable energy as the country has tremendous potential to generate power through wind, hydro and solar. The renewable energy would bring manifold benefits to the national economy as it would reduce cost of doing business, promote industrialization, encourage investment, created plenty of new ... Read More »

Govt asked to introduce single digit GST in next budget

Pic Feb 09, 19

ISLAMABAD: The Islamabad Chamber of Commerce & Industry (ICCCI) organized a pre-budget consultative session to seek budget proposals from the local business community. Ahmed Hassan Moughal, President ICCI presided over the session while Rafat Farid Senior Vice President ICCI, Naeem Siddiqui Chairman ICCI Tax Committee and others were also present at the occasion. Addressing the session, Ahmed Hassan Moughal, President ... Read More »

Ministry of Finance approves amendments in SRO 630(I)/2018

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ISLAMABAD: Ministry of Finance, Economic Affairs, Statistics and Revenue issued a notification for the amendments SRO 630(I)/2018, dated 24th May, 2018. Read More »

NAB chairman to preside over EBM tomorrow

NAB chairman Justice Javed Iqbal

ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice ® Javed Iqbal will preside over Executive Board Meeting (EBM) tomorrow. During the meeting, the participants will discuss to authorise various complaint verifications, inquiries, investigations and filling of corruption references will also be authorised as per law. It is necessary to mention here that several references are still pending which will be approved ... Read More »

Gold prices hit all-time high at Rs68,150 per tola

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KARACHI: Gold prices hit an all-time high at Rs68,150 per tola (11.66 grams) in Pakistan on Tuesday, following an uptick in the global market in the wake of US government crisis. “Gold is moving on the higher side (in global markets) ahead of the end of a three-week deadline on Friday to end deadlock over the US funding bill and ... Read More »

PTCL announces jump of 32pc in annual profit

PTCL

ISLAMABAD: Pakistan Telecommunication Company Ltd (PTCL) announced its financial results for the year ended Dec 31, 2018, saying that consolidated net profit improved by 32 per cent while that of its flagship PTCL fell 11pc. The overall group profit after tax clocked in at Rs5.7 billion for CY18, higher by 32pc, over Rs4.32 billion last year. On the other hand, ... Read More »

Govt paying Rs6b interest per day on loans: PM Imran

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ISLAMABAD: Prime Minister Imran Khan said on Tuesday that the government is paying Rs6 billion interest every day on loans taken by the previous governments. The premier said this after inaugurating the Railway live-tracking service and Thal Express train service. While addressing the inaugural ceremony, the prime minister said that a common man commutes daily through railway. “Due to the ... Read More »

Shahnaz Maqbool assumes charge of Collector Adjudication, Islamabad

Collector Appraisement WEST - SHahnaz Maqbool

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for relinquishment and assumption of charge by Ms. Shahnaz Maqbool. According to notification no: 0433-C-I/2019: In pursuance of FBR’s notification no: 0357-C-I/2019, dated 4.2.2019, Ms. Shahnaz Maqbool, a PCS/BS-20 officer, has relinquished the charge of the post of Director (BS-20), Directorate of Risk Management, Karachi, w.e.f. 11.2.2019 and has assumed the charge ... Read More »

DHL hires hundreds of customs staff to prepare for no-deal Brexit

dhl

AMSTERDAM: Deutsche Post DHL has hired hundreds of workers to deal with new customs procedures expected to be imposed after March 29, when Britain is due to leave the European Union, an executive said on Tuesday. Europe is Britain’s largest trading partner. New tariffs and goods clearance procedures could be introduced unless Britain secures a deal on future relations with ... Read More »

Oil market to reach balance in first quarter: Al Mazrouei

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DUBAI: The oil market should reach a balance between supply and demand in the first quarter of this year, UAE’s Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei told Al Arabiya television on Monday. He said he was satisfied with the implementation of an agreement to cut supply by the Organisation of the Petroleum Exporting Countries ... Read More »

KSE-100 index gains 270 points amid selling pressure

A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 270 points on Tuesday amid selling pressure. The index closed at 40,596 points as against 40,326 points showing an increase of 270 points. Analysts at Arif Habib Limited said that the market made an upward move today with an oscillation of around 370 points (+311 points and -58 points). ... Read More »

Asif Saeed Khan Lughmani assumes charge of Collector Customs Preventive Peshawar

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ISLAMABAD: Federal Board of Revenue (FBR) issued a notification for relinquishment and assumption of charge by Asif Saeed Khan Lughmani. According to notification no: 0430-C-I/2019: In pursuance of FBR’s notification no: 0357-C-I/2019 dated 4.2.2019, Asif Saeed Khan Lughmani, BS-20 officer of Pakistan Customs Service has relinquished the charge of the post of Chief, Federal Board of Revenue (headquarters), Islamabad w.e.f. ... Read More »

UK signs post-Brexit trade deal with Switzerland

Post-Brexit UK

LONDON: The UK and Switzerland have signed a deal to continue trading after Brexit as they did before it. The “continuity agreement” – based on the EU’s existing free trade deal with Switzerland – was agreed in December but ratified on Monday. International Trade Secretary Liam Fox said the deal would “continue the preferential trade that we have”. The UK ... Read More »

New oil terminal approved at Port Qasim: Ali Haider Zaidi

port qasim

ISLAMABAD: Federal Minister for Maritime Affairs Syed Ali Haider Zaidi on Monday said that the construction of a new oil terminal has been approved at Port Qasim in view of the growing energy requirements of the country. Addressing at International Conference on Pakistan Petroleum and Gas held here, the minister said due to the transparent rule of incumbent government, better ... Read More »

ECC approves effective measures for enhancing production of cotton

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ISLAMABAD: Federal Finance Minister Asad Umar on Tuesday presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet. The ECC approved measures for uplift of the cotton crop in the country. Secretary Ministry of National food Security & Research gave the meeting a detailed presentation on issues and challenges in the cotton sector. Experts in the field ... Read More »

Rupee gains two paisas amid foreign inflow hopes

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KARACHI: Pak Rupee gained two paisas against US dollar on Tuesday as market anticipated foreign inflows. The rupee ended Rs138.92 to the dollar from previous day’s close of Rs138.94 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.90 and Rs138.95. The market recorded day high of Rs138.94 and low of Rs138.88 and ... Read More »