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Author Archives: CT Report

Chinese envoy Yao Jiang calls on Adviser to PM on Finance, Revenue & Economic Affairs

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ISLAMABAD: Ambassador of People’s Republic of China, Yao Jing called on Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance, Revenue and Economic Affairs today. Both sides discussed matters of bilateral interest and underscored the need for enhanced collaboration between the two countries in the areas of mutual benefit. The adviser informed the Ambassador that Pakistan highly values ... Read More »

FBR to introduce prize scheme to encourage people take invoices from restaurants, hotels


ISLAMABAD: Federal Board of Revenue (FBR) is planning to introduce prize scheme through draw against invoices of restaurants submitted by customers. According to sources of FBR, the plan was under consideration after identification of huge tax evasion by restaurants in Islamabad Capital Territory. The sources said that the FBR would announce different prizes through a draw of invoices. The purpose ... Read More »

Chinese envoy attends Rawal Expo B2B conference


RAWALPINDI: Chinese ambassador, Yao Jing, has urged business community of Pakistan to expend cooperation and connectivity with their counterparts as Pakistan and China were entering the new leg of China-Pakistan Economic Corridor (CPEC). The Chinese companies and factories are ready to transfer technical expertise and relocate their businesses in Pakistan, he added. Addressing business to business (B2B) conference as a ... Read More »

Book “Another Perspective” launched, earnings to be donated to Hoonermand Foundation


LAHORE: A memorable book “Another Perspective” was launched in Lahore at a prestigious ceremony that was attended by the Chairman Pakistan Cricket Board Ehsan Mani author of book Taher Memon, co author Salim Pervez, LCCI President Almas Hyder and people from different walks of life. All earnings from the book will be donated to Hoonermand Foundation, an organization working to ... Read More »

WB CD calls on Advisor to PM on Finance Hafeez Shaikh

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ISLAMABAD: The World Bank Country Director Patchamuthu Illangovan called on the Advisor to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh today. They discussed the ongoing projects being supported by the World Bank. During the meeting, the advisor emphasized the need to expedite the finalization of the new financing in the pipeline before the end of ... Read More »

Hafeez Sheikh vows to accelerate talks with IMF


ISLAMABAD: The newly-appointed head of finance ministry has vowed to speed up talks with the International Monetary Fund as Islamabad seeks a crucial bailout deal for a cash-strapped economy facing a balance-of-payments crisis. The government named Abdul Hafeez Sheikh, a former World Bank official who was federal finance minister from 2010-2013, as “adviser on finance” replacing Asad Umar a day ... Read More »

Pak Rupee ends down 20 paisas in open market

Pak rupee 2

KARACHI: The Pak Rupee ended down by 20 paisas in open market on Saturday owing to recent changes in the federal cabinet. The buying and selling of dollar was recorded at Rs142.00/Rs142.50 from previous day’s closing of Rs142.00/Rs142.50 in cash ready market. The local unit lost 50 paisas against the greenback during the last two days. Currency dealers said that ... Read More »

Hyderabad I&I seizes non-duty paid goods worth Rs147.9m


HYDERABAD: The newly formed Directorate of Customs Intelligence & Investigation impounded non-customs paid goods worth Rs 147.9 million during first nine months of current Fiscal Year 2018-19. Director I&I Dr. Sadiqullah Khan said that the I&I department, despite limited resources using all available resources to curb smuggling attempts. Additional Director Syed Naeem Akhtar formed Special Investigation Unit (SIU) under the ... Read More »

PFC presents proposals for boosting furniture export

imports furniture

ISLAMABAD: Pakistan Furniture Council (PFC) Chief Executive Mian Kashif Ashfaq Saturday, on behalf of furniture producers, presented a set of proposals for upcoming  Federal Budget 2019-20 to Advisor to Prime Minister Abdul Razak Dawood. The PFC demanded allocation of special chunk of funds to boost furniture exports, besides giving the sector the status of a full-fledged industry. Mian Kashif Ashfaq ... Read More »

Trade, connectivity make millionaires flock to Dubai


DUBAI: To prioritise its residents’ and citizens’ happiness is part of the UAE’s policies, making it a global hub for businesses, said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, sought to make Dubai and the UAE ... Read More »

Clean, Green Pakistan mandatory to promote tourism: Zartaj Gul


ISLAMABAD: Minister of State for Climate Change Zartaj Gul said Clean and Green Pakistan was imperative to promote tourism in the country. It was a campaign to bring behavioral changes in the country and raise awareness among the masses for keeping the environment neat and clean, she said. She expressed these views during a cleanliness drive at Margalla Hills National ... Read More »

Activities at Karachi and Qasim Ports

port and shipping

KARACHI: The Karachi Port handled 89,762 tonnes of cargo comprising 41,334 tonnes of import cargo and 48,428 tonnes of export cargo including 3,085 loaded and empty containers during the last 24 hours ending at 0700 hours on Friday. The total import cargos of 41,334 tonnes comprised of 23,374 tonnes of containerised cargo; 799 tonnes of bulk cargo; 6,261 tonnes of ... Read More »

PSX, VIS & PCIC holds seminar to promote cross border investments

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

KARACHI: VIS Credit Rating Company (VIS) in collaboration with Pakistan Stock Exchange Limited (PSX) and Pak China Investment Company Limited (PCIC) organized an event on Saturday to celebrate collaboration between VIS and China Chengxin International Credit Rating Company Limited (CCXI). The theme of the event was to facilitate cross border investments into Pakistan and promote informed investment decision making along ... Read More »

Budget to be announced not earlier than May 24: Hafeez Shaikh


ISLAMABAD: Newly-appointed Adviser to Prime Minister on Finance, Revenue and Economics Affairs Division Dr Abdul Hafeez Shaikh revealed that he had already spoken to finance ministry officials regarding the budget for the next fiscal year. He expressed these views in his first interaction with the media since being appointed the prime minister’s adviser on finance, revenue and economic affairs. Speaking ... Read More »

Indus Motor raises prices of various models from April 20

New cars are transported in a truck in Sao Bernardo do Campo

KARACHI: Indus Motor Company (IMC) has raised prices of various models by Rs65,000-307,000 effective from April 20. After the hike, the new rates of Toyota Corolla XLI, XLI AT, GLI and GLI AT will be Rs2.109 million, Rs2.184m, Rs2.364m and Rs2.439m, respectively – each higher by Rs65,000. Meanwhile, the price of Altis 1.6 has gone up by Rs100,000 to Rs2.674m, ... Read More »

ML-1 project to create 150,000 job opportunities: Sheikh Rasheed

Sheikh Rasheed

BEIJING: Railways Minister Sheikh Rasheed said on Saturday that the Main Line – One (ML-I) project will help in creating job opportunities in the country and a preliminary agreement between Pakistan and China will be signed during the upcoming visit of Prime Minister Imran Khan to Beijing., Radio Pakistan reported. The minister said that the project will provide 150,000 job ... Read More »

Ghulam Sarwar Khan accepts to take charge as aviation minister


ISLAMABAD: Ghulam Sarwar Khan has accepted Prime Minister Imran Khan’s decision to change his ministry as part of the federal cabinet reshuffle, sources said on Saturday. Ghulam Sarwar will take charge as aviation minister on Monday or Tuesday, the sources said. “After two holidays, I will go the aviation ministry and start work,” the sources quoted the federal minister as ... Read More »

Abdul Hafeez Sheikh takes charge as finance adviser


ISLAMABAD: Newly-appointed adviser on finance Dr Abdul Hafeez Sheikh took charge of his post on Saturday. The finance adviser will also have the charge of Revenue and Economic Affairs Division. Sheikh’s designation will be at par with that of a federal minister. Sheikh, a Pakistani political economist of international repute with over 30 years of experience, has served as the ... Read More »

IMF mission to visit Pakistan by end of April: Ernesto Ramirez-Rigo

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ISLAMABAD: Advisor to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez held a phone discussion with IMF Mission Chief to Pakistan, Ernesto Ramirez-Rigo, after talking with Jihad Azour, IMF Director earlier today . They discussed the progress of negotiations for an IMF-supported program for Pakistan. Both sides expressed their commitment for moving the discussions forward. It was ... Read More »

Customs Intelligence Lahore transfers 8 officials


LAHORE: Directorate of Customs Intelligence and Investigation Lahore transferred 8 officials with immediate effect. The officials include principal appraiser Amjad Akhtar Bukhari, appraiser Saqin Nazir Khan, appraiser Muhammad Ijaz Cheema, inspector Amjad Khan, intelligence officers Khawaja Zia, Muhammad Sohail Murtaza, Hina Fayyaz and KPO Bilal Ahmad Khan.   Read More »