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Author Archives: CT Report

NAB court extends Hamza Shahbaz’s remand till Oct 16

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LAHORE: An Accountability Court (AC) on Wednesday has extended judicial remand of Leader of the Opposition in Punjab Assembly Hamza Shahbaz for 14 days in assets beyond income case. During the hearing, the court has directed National Accountability Bureau (NAB) to re-produce the Pakistan Muslim League-Nawaz (PML-N) leader on October 16. Previously, NAB investigation officer told the court that his ... Read More »

KPT shipping intelligence report Oct 2

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KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday. ALONG SIDE (Bulk Oil Pier) Berth Vacant ALONG SIDE (East Wharves): 4 Red Fin L. Clinkers OC-Services 01/10/19 5 ALentejo D. Dap Bulk-Sh. 24/09/19 10/11 GDF Suez North Sea D. Dap Bulk-Sh. 19/09/19 11/12 Seacon 7 D. Gen.Cargo Sea ... Read More »

Delisting of Chinese companies to hit investor’s confidence

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BEIJING: If measures reportedly being considered by US officials to delist Chinese equities from exchanges in the United States were to take effect, they would likely have a limited impact on Chinese investments but would deal a heavy blow to investor confidence in financial markets in the US, experts said. The US government is not contemplating blocking Chinese companies from ... Read More »

Malaysia to supply palm byproducts to Pakistan

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LAHORE: Malaysian Consul General Khair-ul-Nazran Abd Rahman has pledged to supply all palm byproducts to Pakistan at very reasonable prices. He was addressing as chief guest at annual dinner of Pakistan Soap Manufacturers Association (PSMA) at a local hotel where Regional Manager MPOB Johri Minal and renowned businessman Abdul Rashid Jan Muhammad attended the event as guests of honour. The ... Read More »

FBR to approach foreign exchange companies to trace ‘hoarders”

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ISLAMABAD: The Federal Board of Revenue (FBR) has decided to approach foreign exchange companies about transactional details of individuals to trace ‘hoarders’ and bring them into the tax net. According to media, FBR would launch a major crackdown in this regard and obtain information from foreign exchange companies regarding individuals who purchased the foreign currency during the past few months. The ... Read More »

FBR gets a separate category in the citizen’s portal app

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ISLAMABAD: Upon the directives of the Prime Minister of Pakistan, Imran Khan a separate category added to ‘citizen’s portal’ application, according to media on Wednesday. Federal Board of Revenue (FBR) had made a formal request for their category to appear in the mobile and computer application. With the new feature, people will be able to register their complaints directly to ... Read More »

ECC okays Rs0.30 per unit hike in power tariff

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ISLAMABAD:Economic Coordination Committee (ECC) has approved a proposal to increase electricity prices by 30 paisa per unit. New prices would be implemented on users with units greater than 300. The meeting of ECC was held in Islamabad with Advisor to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh in the chair. The ECC approved a proposal submitted by the ... Read More »

ECNEC gives nod to multi-billion highways & infrastructure projects in power sector

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ISLAMABAD: Executive Committee of the National Economic Council (ECNEC) has approved separate projects, including construction of 21-km long dedicated Yellow Bus Rapid Transit-BRT Corridor linking Landhi to Numaish, 47.55km Peshawar-Torkham Motorway Project and interlinking of 220 kV Daharki, Rahim Yar Khan, Bahawalpur and Chishtian Grid Stations for improvement of power supply system in southern areas. The decisions were taken in ... Read More »

Raw cotton exports increase by 152.33pc fetching $8.229m

RAW COTTON

KARACHI: The exports of raw cotton from the country during first two months of current financial year witnessed about 152.33% increase as compared the corresponding period of last year. During the period from July-August, 2019 about 5,337 metric tons of raw cotton valuing $8.229 million exported as compared the exports of 2,240 metric tons worth of $3.289 million of same ... Read More »

Healthy relations between public & private sectors would be top priorities of LCCI: Irfan Iqbal Sheikh

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LAHORE: More meaningful role of the Lahore Chamber in policy corridors and ensuring a good business atmosphere, boost in exports and healthy relations between public and private sectors would be top priorities of the Lahore Chamber of Commerce & Industry during the year to come. These views were expressed by the LCCI newly elected President Ifran Iqbal Sheikh, Senior Vice ... Read More »

RCCI new president vows to focus on resolving key issues of traders

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RAWALPINDI:  Every sector of the economy needs to be boosted in order to ensure smooth growth of the economy. Our focus will be maximum utilization of our potential for elevating the status of our business community with in the country and across the borders as well. The government should provide conducive environment for boosting trade and industry and economic stability ... Read More »

Suzuki announces to raise Alto, bike prices from Oct 1

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KARACHI: The Pak Suzuki Motor Company Limited (PSMCL) announced second price jump in two variants of Alto660cc by Rs70,000-85,000 from Oct 1 followed by price hike of Rs2,000-6,000 in two-wheelers. According to media, two-time price increase in Alto suggests the PSMCL is now fully cashing in on its burgeoning demand after losing sales on hot selling WagonR and other models. ... Read More »

NAB authorises conducting 4 inquiries, 15 investigations & closing several probes

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ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday authorised conducting four inquiries, 15 investigations and closing several investigations against various suspects, owing to absence of evidence. The meeting of the Executive Board Meeting of the Bureau was held today under Justice (retd) Javed Iqbal. Speaking on the occasion, Chairman NAB Javed Iqbal said the bureau has filed 105 mega corruption ... Read More »

Condition of CNIC for purchase of over Rs50,000 could be relaxed for one month: FBR

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ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi here on Tuesday said that the government was ready to accept all valid demands of the traders, according to media. Talking to journalists, Shabbar Zaidi said that the condition of Computer National Identity Card (CNIC) for purchase of over Rs50,000 could be relaxed for one month. He further said ... Read More »

Gwadar Port opens for transit trade, first shipment due next week

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ISLAMABAD: The Senate’s Standing Committee on Maritime Affairs, in its meeting on Tuesday, reviewed in detail various issues pertaining to Gwadar Port and its investors. It was disclosed that the port has been opened for transit trade and the first shipment in this regard is due next Tuesday. Convened by Senator Kauda Babar, the meeting was attended by Senator Moula ... Read More »

NAB indicts Mehtab Abbasi, 5 others in PIA illegal appointments case

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ISLAMABAD: At least five suspects, including the Pakistan Muslim League-Nawaz’s (PML-N) senior leader, Sardar Mehtab Abbasi, were indicted on Tuesday in the National Accountability Bureau’s reference pertaining to the illegal appointments at the Pakistan International Airlines (PIA). The indictments were announced by the judge, Justice Muhammad Bashir, during a session at an accountability court in the federal capital. All the ... Read More »

Pakistan offers vast opportunities for investment: Shah Mehmood Qureshi

Shah Mehmood

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi has said Pakistan offers vast opportunities of investments in diverse fields including tourism, according to media. This he stated while expressing his views with the congressmen from the US Democratic Party, who called on him here. The FM said Pakistan highly appreciates its bilateral relations with the United States as both the countries have ... Read More »

Gold down Rs900 per tola

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KARACHI: Gold prices in the local market decreased by Rs900 to Rs86,000 per tola on Tuesday, according to media. Whereas, rate of 10 grams of the yellow metal dropped by Rs770 to Rs73,731. Meanwhile, Gold in the global market slid to its lowest in nearly two months as the dollar climbed to a multi-year peak on signs of strength in ... Read More »

Pak Rupee ends flat amid inflows

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KARACHI: The Pak Rupee ended flat against dollar on Tuesday despite inflows of remittances and export receipts. The rupee ended Rs156.36 to the dollar from previous day’s closing of Rs156.37 in interbank foreign exchange market. Currency dealers said that the foreign inflows appreciated the rupee value during the day. However, the higher demand offset the gains in the rupee value. ... Read More »

PSX gain 175 points amid high turnover

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 Pakistan Stock Exchange (PSX) witnessed a positive start to the month, with the KSE-100 Index closing the session on Tuesday in the green zone amid high turnover. On the economic front, the government on Monday announced its decision to keep prices of petroleum products unchanged for October 2019. Working of the Oil and Gas Regulatory Authority (OGRA) shows ... Read More »