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Author Archives: CT Report

FBR Chairman Shabbar Zaidi vows to power on with more tax notices

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi reiterated that government will not back away from taxing trade, services as part of the move to broaden country’s narrow tax base. Zaidi seems in no mood to back down from the aggressive documentation drive launched by the FBR under his stewardship. He emphasised these points while speaking at the 21st ... Read More »

NEPRA asked to hike power tariff by Rs1.93 per unit

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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has been asked to increase the electricity tariff by Rs1.93 per unit, according to media reports on Thursday. The Central Power Purchasing Agency (CPPA) has requested NEPRA to increase the price of electricity by Rs1.93 per unit, on basis of a quarterly fuel price adjustment. If the request is approved, an additional ... Read More »

Zardari shifted to PIMS from Adiala Jail for medical checkup

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ISLAMABAD: Former president Asif Ali Zardari has been shifted to Pakistan Institute of Medical Sciences (PIMS) from Adiala Jail for a medical checkup, jail authorities said on Thursday. According to the jail officials, the cardiac centre at PIMS will be designated as a “sub jail” for the Pakistan People’s Party (PPP) leader while he undergoes medical treatment there. PPP chairman ... Read More »

PM Imran directs to take measures to bring down prices of essential items

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ISLAMABAD: Prime Minister Imran Khan has directed the authorities concerned in the federal capital and two provinces Punjab and Khyber Pakhtunkhwa to thrash out a plan to provide relief to the masses and ensure stability in prices of essential commodities. “Such a system should be devised that ensures no additional burden is put on the common man,” the prime minister ... Read More »

Court extends physical remand of Shahid Khaqan Abbasi by 14 days

Shahid Khaqan Abbasi

ISLAMABAD: An accountability court on Thursday extended former prime minister and Pakistan Muslim League-Nawaz (PML-N) leader Shahid Khaqan Abbasi by 14 days in the LNG case. During today’s hearing, the National Accountability Bureau (NAB) prosecutor told the court, they sought an extension on the grounds that the anti-graft body has yet to complete the investigation related to the LNG terminal. ... Read More »

Two mega projects worth Rs95b approved for Karachi

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ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Sheikh said on Thursday that two mega projects worth Rs 95 billion have been approved for Karachi. The PM’s adviser was speaking to media after addressing a seminar. Sheikh, in his address, said that one of the big projects is regarding the construction of redline transport plan from Malir ... Read More »

Sindh govt approaches SC to gain funds being deposited by Bahria Town

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KARACHI: Around a week after the federal government moved the Supreme Court seeking funds being deposited by the Bahria Town Limited for settlement of cases about its project in Karachi, the government of Sindh also submitted an application on Wednesday in the apex court with an identical request. The Advocate General for Sindh, Salman Talibuddin, filed a three-page application at ... Read More »

Gems & Jewellers to hold meeting with FBR member policy

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LAHORE: A representative 20-member delegation of the Punjab Sarafa Gems & Jewellers Association led by its Chairman Muhammad Ahmad will hold parleys with Member Policy Federal Board of Revenue (FBR) Dr. Hamid Attique Sarwar on the issue of imposition of GST. General Secretary of the Association Rana Muhammad Shahzad said that the delegation will apprise the FBR top brass about ... Read More »

Govt decides to abolish unnecessary regulations in petroleum sector: Nadeem Babar

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ISLAMABAD: Special Assistant to the Prime Minister (PM) on Energy Nadeem Babar said on Thursday the government has decided to abolish various unnecessary regulations to facilitate investment in petroleum sector in Pakistan. He was addressing a news conference along with Minster for Power Omar Ayub Khan and Special Assistant to the PM on Information and Broadcasting Dr Firdous Ashiq Awan. ... Read More »

SHC directs to establish Consumer Protection Councils

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KARACHI: Sindh High Court (SHC) has directed the Sindh Government to establish Consumer Protection Council at the provincial as well as district level within 20 days. A two-judge bench headed by Justice Muhammad Ali Mazhar was hearing two identical petitions seeking implementation of Sindh Consumer Protection Act, 2014. The petitions were moved by Non-Governmental Organizations (NGOs) in larger public interest ... Read More »

KP produces 45,000 barrel oil per day

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PESHAWAR: Adviser to the Khyber Pakhtunkhwa chief minister on energy and power Hamayatullah Khan on Wednesday said that the province was producing 45,000 barrel of crude oil per day, according to media. Presiding over a meeting in connection with production capacity of OGDCL in Peshawar, Hamayatullah said that KP was also producing 400 million cubic feet per day (MMcfd) gas ... Read More »

Customs AFU redistributes work among appraisers, inspectors, havaldar, sepoy

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LAHORE: Collectorate of Customs Preventive Air Freight Unit (AFU), Cargo Complex, Allama Iqbal International Airport, Deputy Collector Saima Zaib Butt issued order for redistribution of work among following appraisers, inspectors, havaldar and sepoy with immediate effect and until further orders: Read More »

Gold scales new peak of Rs90,150/ tola

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KARACHI: Gold price increased by a record Rs1,150 to cross the Rs90,000-mark in the local market on Wednesday, according to media reports. According to details, gold price rose by Rs1,150 to Rs90,150/ tola – its all-time high in the country. Similarly, price of 10 grams of gold increased by Rs986 to Rs77,289. Reuters adds: Gold in the global market held ... Read More »

PM Imran urges promotion of digital economy, solutions to ease businesses

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ISLAMABAD: Prime Minister Imran Khan on Wednesday directed concerned authorities to formulate regulations to provide ease for businesses besides ending superannuated and unnecessary laws, private news channel reported. The directives were issued by the PM Imran Khan to the chairman of the Board of Investment (BoI) while chairing a high-level session for increasing the business opportunities in the country. The ... Read More »

SBP Governor Raza Baqir calls on PM Imran to discuss economic situation

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ISLAMABAD: Prime Minister Imran Khan on Wednesday met governor State Bank Of Pakistan (SBP) Reza Baqir to discuss overall economic situation of the country. Reza Baqir briefed PM Khan on Central Bank’s monitory policies. Both discussed stability in dollar price and reserves of Pakistan. Sources said SBP governor informed PM about interest rate policy and measures to control inflation. Read More »

KSE-100 index gains 52 points to close at 30,637 points

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

KARACHI: Pakistan Stock Exchange (PSX) witnessed a positive trend on Wednesday when the benchmark KSE-100 index gained 52 points and recovered to 30,637 points. During the last three days, the KSE-100 index gained massive more than 400 points. Hovering in the green throughout the previous week on the back of rumors that “Pakistan might exit the FATF grey list”, as ... Read More »

KPT Shipping Intelligence Report August 28

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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) OP-I Nave Rigel D. Mogas GAC 27/08/19 OP-II Sapsan D. Mogas GAC 27/08/19 ALONG SIDE (East Wharves): 1 Al Mahboobah D. Chemical Wilhelmsen 26/08/19 2/3 Stolt Maple L. Ethanol East Wind 22/08/19 10/11 Navios ... Read More »

US, France reach agreement on digital taxes

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BIARRITZ, France: French President Emmanuel Macron said G7 members had reached an agreement on the taxation of tech giants, a long-standing subject of friction between France and the US which has threatened to retaliate with tariffs on French wines. Speaking alongside US President Donald Trump at a G7 summit in southwest France, Macron admitted that there had been “a lot ... Read More »

Rupee depreciates by 24 paisa against dollar; PSX gains 311 points

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KARACHI: The Pakistani rupee continued to lose its strength against the US dollar as it slipped by 24 paisa in the interbank market and hit Rs157.5 during the early trade hours on Wednesday. Yesterday, the local currency depreciated by 40 paisa in the interbank market. In previous weeks, the rupee was observed to cumulatively depreciate against the greenback, which in ... Read More »

Govt striving hard to make PIA profitable: PM Imran

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ISLAMABAD: Prime Minister Imran Khan on Wednesday said that government was striving hard to turn Pakistan International Airlines (PIA) into a profit-making organization, a private media outlet reported. Chairing a high-level meeting to revive the national flag carrier, PM Imran Khan said that the government evolved a comprehensive plan to uplift PIA on modern lines. He said that the national ... Read More »