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Author Archives: CT Report

Gold gains Rs 550, traded at Rs 84,000 per tola

ISLAMABAD: The price of 24 karat gold jumped by Rs 550 and was traded at Rs 84,000 per tola as compared to the last closing at Rs 83,450, Karachi Sarafa Association reported on Monday. The price of 10 gram gold also witnessed increase of Rs 471 and was traded at Rs 72,016 against Rs71, 545 of last day. The price ... Read More »

Dollar value dips, interbank rate drops to Rs158.93

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KARACHI: Pakistani rupee on Monday further recovered its value against the US dollar by 18 paisa in the interbank market, and was traded at Rs158.93. In the open market, the local currency appreciated by 50 paisas and the dollar was traded at Rs159. In the previous week, the Pakistani rupee has depreciated by 39 paisa against the US dollar in ... Read More »

FBR to bring 3.5m more people into tax net in next five years


  KARACHI: Federal Board of Revenue (FBR) to add 3.5 million people into active taxpayers list (ATL) in next five years while currently there are only 1.2 active taxpayers in Pakistan A meeting of steering committee for “Pakistan Raises Revenue Project” (PRRP) was held on August 1 in which it was decided to bring Tax-to-GDP ratio from 13 percent to ... Read More »

PM Imran directs for accelerated efforts to revive Pakistan Steel Mill

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ISLAMABAD: Prime Minister Imran Khan Monday directed the Ministry of Trade and Commerce to accelerate the efforts for revival of the Pakistan Steel Mill (PSM), reiterating his government’s priority to restore and recover the entity from the losses. Chairing a meeting to review the progress on the revival of the PSM, the prime minister said that the destruction of a ... Read More »

Footwear exports rise by 13pc to $122.181m


ISLAMABAD: The footwear exports from the country witnessed an increase of 13 per cent during the fiscal year 2019 compared to the corresponding period of last year. Pakistan exported footwear worth $122.181 million during July-June (2018-19) against the exports of $108.125 million during July-June (2017-18), showing a growth of 13 per cent, according to the latest data of Pakistan Bureau ... Read More »

Pakistan to get 13m euros from EU

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ISLAMABAD: The federal government has decided to initiate a five-year programme 2019-2024 in cooperation with the European Union to ensure rule of law in the country along with good governance, reforms in human rights department and decrease in poverty with a cost of 13 million euros. The draft between Pakistan and European Union on Public Financial Management Support Programme (PFMSP)-2 ... Read More »

PM Imran announces to plant ten billion trees across country in five years


ISLAMABAD: Prime Minister Imran Khan said that the PTI government will achieve the target of planting ten billion trees across the country during its term by involving all the provinces in the national cause. He was addressing a ceremony after inaugurating monsoon tree plantation campaign by planting a sapling. The Prime Minister expressed resolve to fight the climate change effects ... Read More »

Timesasco to create millions of job opportunities for women


ISLAMABAD: Chinese Services Company, Timeasco, would provide millions of jobs and businesses to women through different e-commerce platforms in six major cities of the country. Timesaco CEO Donald-Li said the company has a plan to introduce different e-commerce platforms for women, through which they will be able to do different online business, here on Monday. He said Timesaco’s e-services platform ... Read More »

Karachi Port Trust shipping Intelligence Report

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KARACHI :The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier) OP-I Quetta D. Crude Oil PNSC 04/08/19 OP-II Petali Lady D. Mogas Alpine 03/08/19 ALONG SIDE (East Wharves): 10/11 Same Lion L. Clinkers Sea Care 04/08/19 11/12 Gravity D. Dap Pak Liner 29/07/19 12/13 ... Read More »

KSE plummets 685 points as Pak-India tensions soar

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 market dropped 685 points to three-and-half-year low in intra-day trading, falling below 31,000 points due to escalation in Pakistan-India tension along the Line of Control. At 12:58, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index was down 579 points to stand around 31,087 points. The market was down due to “India, Kashmir and Pakistan issue,” Alpha ... Read More »

Indian shares plunge to fresh five-month lows as govt removes occupied Kashmir’s special status

People watch share prices on a digital broadcast outside the Bombay Stock Exchange (BSE) in Mumbai on May 23, 2019. - Indian stocks jumped to a record highs May 23 as early results in the world's biggest election showed Prime Minister Narendra Modi on course for a second term. (Photo by PUNIT PARANJPE / AFP)

NEW DELDHI: Indian shares plunged to fresh five-month lows, led by losses in metals and public sector bank stocks, in a global selloff due to the escalating Sino-US trade war, while the government’s move to remove special status of the occupied Kashmir region also stoked worry. The Chinese yuan broke below the psychological 7-per-dollar threshold after US President Donald Trump ... Read More »

Saudi Arabia to establish ore steel mill in Chiniot, Chagai


LAHORE: The country’s first-ever local iron-ore steel mill to be established in Chiniot tops the list of four potential projects selected by the government from across the country for investment by Saudi Arabia, it emerged on Monday. It may be recalled that Pakistan has signed a Memorandum of Understan­ding (MoU) for economic cooperation in mineral resources. The MoU was part ... Read More »

PSO, SNGPL raise red flag, ask govt to rescue gas network


ISLAMABAD: Pakistan State Oil (PSO), the country’s premier importer of liquefied natural gas and largest company by revenue, and Sui Northern Gas Pipelines Limited (SNGPL) have sought intervention of the energy ministry and the Prime Minister Office to resolve an issue involving safety of the gas network, financial costs to the exchequer and international penalties. In two simultaneous communications to ... Read More »

Govt appoints Omar Hameed Khan as spokesman finance division

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ISLAMABAD: Ministry of Finance (Finance Division) has appointed Omar Hameed Khan as official spokesman of finance division. Omar Hamid Khan, a BS-22 officer of Secretariat Group currently performing his duties as Special Secretary Finance Division. A notification issued in this regard also stated that all additional finance secretaries and DG (Media) of finance division are advised that any information required ... Read More »

Rs248m plan for I.I. Chundrigar Road beautification


KARACHI: The provincial government plans to carry out Rs248 million worth improvement work on I.I. Chundrigar Road, the main commercial artery of the metropolis, under the Annual Development Plan, officials said. City Commissioner Iftikhar Shallwani told media that the local government department would carry out major improvement work on I.I. Chundrigar Road from Shaheen Complex to Tower under the directives ... Read More »

Razak invites Korean companies to invest in Pakistan

orgsize_301Abdul Razak Dawood

ISLAMABAD: Adviser to Prime Minister Imran Khan on Commerce and Textile, Industries and Production and Investment Razak Dawood urged the South Korean companies to invest in Pakistan owing to its improved global ranking in ‘Ease of Doing Business’ Index by 11 points in 2019. Razak Dawood, concluded a successful visit to South Korea and where he also was heading a ... Read More »

Facebook joins hands with WCCI-Lahore to facilitate women entrepreneurs


LAHORE: Facebook has announced its partnership with the Women Chamber of Commerce and Industry–Lahore Division to expand its #SheMeansBusiness programme in Pakistan. As per details, the programme would provide women entrepreneurs with the tools, training and resources that can help them secure funding and grow their businesses. “The flexibility offered by digital technologies is enabling a new generation of women ... Read More »

Cutlery exports surge 1.73pc to $91.3m


ISLAMABAD: The cutlery exports from the country witnessed an increase of 1.73pc during the financial year 2018-19, as compared to the corresponding period of last year. Pakistan exported cutlery worth $91.325 million during July-June 2018-19, as against the exports of $89.773 million during July-June 2017-18, according to the Pakistan Bureau of Statistics (PBS). On a year-on-year basis, the cutlery exports ... Read More »

Artificial Jewellery exports dip 16.86pc during FY2018-19


ISLAMABAD: The exports of artificial jewellery from the country witnessed decrease of 16.86 percent during the financial year (2018-19) as compared to the corresponding period of last year. The artificial jewellery exports from the country during July-June (2018-19) were recorded at $4.911 million against the exports of $5.907 million during July-June (2017-18), showing negative growth of 16.86 percent, according to ... Read More »

PFC to participate in Texworld USA exhibition in September


ISLAMABAD: A 25-member delegation of Pakistan Furniture Council (PFC) would participate in Texworld USA International Exhibition in September to explore new markets and strengthen existing bilateral trade ties with the American business community. PFC Chairman Mian Kashif Ashfaq disclosed this while chairing a meeting of furniture exporters held here at PFC headquarters” says a press release issued. He said Pakistani ... Read More »