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Author Archives: CT Report

Govt committed to develop Balochistan: PM Imran

Imran Khan

QUETTA: Prime Minister Imran Khan on Friday reiterated his resolve for development of Balochistan and said its prime responsibility of the state to provide protection, health, education and other basic facilities to its citizens. “We are trying to establish more centres for training in Balochistan.” This he stated while addressing a ceremony in Quetta, after performing groundbreaking of Balochistan Medical ... Read More »

Pakistan can generate 2.9 million MW clean energy from solar power: Mian Aslam Iqbal

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LAHORE: The three-day 8th Edition of Solar Pakistan and 2nd Edition of Electricity Pakistan were started on Thursday under one platform of International Exhibition for Renewable Energy. The Solar Industry mega show, which was organised by the FAKT Exhibitions, will last till Saturday, March 30. Punjab Provincial Minister for Industries, Commerce and Investment Mian Aslam Iqbal inaugurated the historic, mega ... Read More »

Oil prices inch down as US crude stocks climb

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LONDON: Oil prices slipped on Thursday, extending losses into a second consecutive session following a surprise rise in US crude inventories. International Brent crude oil futures were at $67.11 a barrel at 1157 GMT, down $0.72 from their last close. US West Texas Intermediate (WTI) crude futures were at $58.61 per barrel, down $0.8 from their last settlement. US crude ... Read More »

Punjab govt to procure 427 kanals of land to shift wholesale market

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LAHORE: Punjab government will procure 427 kanals of land in Mauza Kaliam to move the wholesale market out of Raja Bazaar. Traders, however, objected to the move, saying that more than 3,000 kanals of land is needed for the new market. The government has been trying to shift the wholesale market to outside the city in response to demands from ... Read More »

Pak Rupee falls by 41 paisas against dollar in early trade

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KARACHI: The Pak Rupee witnessed massive fall of 41 paisas against US dollar in early trade on Friday. The dollar is being traded at Rs140.70 in Interbank Foreign Exchange Market. The foreign currency market ended yesterday at Rs140.29 to the dollar. Currency experts said the higher demand for import and corporate demand escalated the rupee value. The experts said that ... Read More »

BRI & CPEC complementary projects to each other: Shah Mehmood Qureshi

Shah Mehmood

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi has stressed that Belt and Road Initiative (BRI) and China Pakistan Economic Corridor (CPEC) are not competitive projects but are complementary to each other. In an exclusive interview with China Global Television Network (CGTN), foreign minister said that CPEC is a flagship project of BRI that shares the future to explore the ways of ... Read More »

Shanghai Electric to further expand its investment in power sector: Khusro Bakhtyar

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ISLAMABAD: Minister for Planning and Development Khusro Bakhtyar has said that there is a huge potential for private and foreign direct investment in the power value chain including generation, transmission and distribution. He was talking to a delegation led by the Vice Chief Economist Shanghai Electric Power, Mingwei Shi here. He said the government is committed to resolve the issues ... Read More »

Govt to fetch $2b from privatization of Haveli, Balloki power plants

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ISLAMABAD: The National Assembly’s Standing Committee on Privatization was informed on Thursday that government expects to fetch $2 billion from the privatisation of 1,223MW Balloki and 1,230MW Haveli Bahadur Shah power plants. An evaluation committee has been formed in the Privatisation Commission to evaluate expressions of interest, technical and financial proposals submitted by interested parties for hiring of financial advisers, ... Read More »

IMF bailout package likely by mid-May: Asad Umar

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KARACHI: Pakistan is likely to secure a bailout package from the International Monetary Fund (IMF) of between $6 billion and $12 billion by the middle of May, Finance Minister Asad Umar has said. In an interview with the Financial Times in Islamabad this week after a meeting with the IMF, he said he hoped an agreement would be reached with ... Read More »

PSF, PAF & Serena Hotels to organize tournament at Mushaf Squash Complex from April 6-10

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ISLAMABAD: Pakistan Squash Federation (PSF) in collaboration with Pakistan Air Force and Serena Hotels would be organizing a series international squash tournaments (Chief of the Air Staff-Serena Hotels International Squash Tournament for Men (powered by J.) with US$ 30,000/- prize money, Serena Hotel-Condor Pakistan International Squash Tournament for Women with US$ 10,000/- from 01 – 05 Apr, 19 followed by ... Read More »

NFC agrees to finalize NFC Award by December 31

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LAHORE: January 28 - Federal Minister for Finance Asad Umar chairing a meeting of LCCI. APP photo by Tabasam Naveed

ISLAMABAD: Federal Minister for Finance and Economic Affairs presided over the 5th meeting of the 9th National Finance Commission (NFC) today in Lahore. The meeting agreed to make efforts to finalize the NFC Award by December 31, 2019. The six sub-groups, formulated during the first meeting in February, gave presentation on various aspects of resources distribution as per the terms ... Read More »

Govt appoints Brig (r) Ijaz Shah as federal minister for parliamentary affairs

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ISLAMABAD: Brig (r) Ijaz Shah, a MNA from Nankana Sahib, was appointed as federal minister for parliamentary affairs on Friday. Information Minister Fawad Chaudhry took to Twitter to announce Shah’s appointment and said, “On the recommendation of Prime Minister Imran Khan, the president has approved the appointment of Brigadier (retd) Ijaz Shah as federal minister.” “Shah will serve as the ... Read More »

MNFSR decides to take up matter of Indian expired mango pulp with FBR

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ISLAMABAD: Ministry of National Food Security & Research (MNFSR) has taken notice of reports regarding the “import of expired Indian mango pulp”. However, the ministry is taking up the matter with Federal Board of Revenue (FBR) and provincial food authorities to further probe the matter and take appropriate action defined in relevant laws/regulations. The Ministry of National Food Security and ... Read More »

Slovenia wants expansion of trade ties with Pakistan: Envoy

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RAWALPINDI: Kristina Radej, Slovenian ambassador said that Slovenia being a member of the European Union and has a developed economy, offering great potential for expansion of economic and trade ties. During her visit to the Rawalpindi Chamber of Commerce and Industry (RCCI) she said that sector specific trade delegate must visit each other countries and urged improve ties in the ... Read More »

Govt to promote tourism as a national cause:  Zulfi Bukhari

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ISLAMABAD: Pakistan has great potential to attract tourists and government would promote tourism as a national cause to open the country for local and foreign tourists. This was said by Syed Zulfiqar Abbas Bukhari, Special Assistant to Prime Minister on Overseas Pakistanis and Chairman, National Tourism Coordination Board while addressing a press conference at Islamabad Chamber of Commerce & Industry ... Read More »

Global Fashion Experts show great interest in Pakistan fashion industry

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LAHORE:  “Pakistan is a great place as it has marvelous potential as far as fashion industry is concerned”. Pakistan can earn huge foreign exchange through export of fashion industry if it succeeds to catch the attention of western buyers. They are going to other regional countries to buy hand-made embroidery and products for fashion industry despite the fact that Pakistan ... Read More »

Weight limits of heavy vehicles: Technical committee to be directed to expedite work: Shoaib Siddiqui

Secretary Commerce

KARACHI: Federal Secretary Communications Shoaib Ahmed Siddiqui has assured that the technical committee, tasked to decide the fate of load issue being faced by heavy vehicles, will be directed to expedite the process of finalizing the weight limits for numerous heavy vehicles in coordination with all stakeholders so that a mutually acceptable mechanism could be introduced at the earliest. Speaking ... Read More »

Rashakai SEZ to get $128m initial investment

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PESHAWAR: Around $130 million worth of investment would be made in the Rashakai Special Economic Zone (SEZ) in the first phase, disclosed Special Assistant to K-P Chief Minister on Industry, Commerce and Labour Abdul Karim Khan. Talking to media, he said 9 percent of the investment in the SEZ would be made by the K-P government while the remaining 91 ... Read More »

FBR collects Rs2330b, received 1,762,873 tax returns: Hameed Atiq Sarwar

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ISLAMABAD: Federal Board of Revenue (FBR) has received 1,762,873 tax returns against the returns of 1,307,067 of the corresponding period of last year, showing an increase of 455,806 return filers in first eight months of current fiscal year. These views were expressed by FBR Member Inland Revenue Policy Dr Hameed Atiq Sarwar during a media briefing on Thursday.  He said ... Read More »

Gwadar, Makran to be connected with national power grid: ECNEC

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LAHORE: January 28 - Federal Minister for Finance Asad Umar chairing a meeting of LCCI. APP photo by Tabasam Naveed

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) accorded approval to the proposal of Power Division to interconnect isolated areas of Gwadar and Makran with the national grid system of Pakistan. The meeting the committee was held under the chairmanship of Finance Minister Asad Umar. The Planning Division gave a presentation about the dualization of western alignment of ... Read More »