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Author Archives: CT Report

Global FDI declined in 2018, says UNCTAD


ISLAMABAD: Global foreign direct investment (FDI) inflows fell by 19 per cent, in 2018, to an estimated $1.2 trillion — a level comparable to the low point reached after the global financial crisis of 2008, a new report of UN Conference on Trade and Development (UNCTAD) said on Monday. The latest ‘Global Investment Trend Monitor’ says that the decline was ... Read More »

NAB decides to form JIT to probe fake accounts case


ISLAMABAD: The National Accountability Bureau (NAB) announced on Tuesday it has decided to form a Joint Investigation Team (JIT) to probe the long-running fake bank accounts case. The JIT will be headed by Director General NAB Rawalpindi Irfan Mangi and overseen by NAB chairman Justice (retd) Javed Iqbal. According to press release, the decision to constitute the JIT was taken ... Read More »

IR officials Zafar Iqbal, Irfan Ali, Akhtar Abbas relinquish charge


ISLAMABAD: Federal Board of Revenue (FBR) issued separate notifications for relinquishment of charge held by BS-20 officer Zafar Iqbal Khan, Irfan Ali BS-19 and Akhtar Abbas (BS-18) officers of Inland Revenue. All the above mentioned officials are directed to assume the charge of their current post on the same date.   Read More »

Customs Preventive Inspectors Ashfaq Baig, Yasin Wattoo re-instated


ISLAMABAD: Federal Board of Revenue (FBR) issued notification for re-instatement of Customs Preventive Inspector Muhammad Ashfaq Baig and Inspector. According to notification no: 0190-C-IV/2019: Muhammad Ashfaq Baig and  Inspector Yasin Wattoo (BS-16) of Customs Collectorate of Preventive, Lahore who was placed under suspension vide board’s notification no: 0065-C-IV/2018, dated 12.1.2018 is hereby re-instated into service from the date of imposition ... Read More »

Pakistan seeks LNG on credit, reduced price from Qatar


ISLAMABAD: Prime Minister Imran Khan during his two day-official visit is likely to request the Qatar authorities to provide Liquefied Natural Gas (LNG) worth $4 billion on deferred payment and reduced price to support balance of payment. According to the details, Pakistan’s annual import bills of LNG is around $4 billion and the premier would ask Doha authorities to extend ... Read More »

Negative net revenue impact in mini-budget: Dr. Khaqan Najeeb


ISLAMABAD: The third money bill of the current fiscal year to be presented in the parliament on January 23 (tomorrow) would offer major incentives to boost stock market, housing, agriculture and industrial sector besides imposing punitive duties on luxury imports. “The main factors of the economic package is to turn around manufacturing and exports, incentivise low-cost housing and facilitate agricultural ... Read More »

UAE to sign $3b support package for Pakistan today


ABU DHABI: Pakistan and the United Arab Emirates will sign a US$3 billion support package on Tuesday (today), as pledged by Abu Dhabi to boost the liquidity and foreign exchange reserves of the cash-starved country. According to the package, which would be signed in a ceremony scheduled in Abu Dhabi, the UAE will deposit $3 billion in the State Bank ... Read More »

Raising revenues essential to stabilise economy: IMF


DUBAI: In a short note shared with Dawn late on Monday night, IMF Resident Representative to Pakistan Teresa Daban Sanchez said that raising revenues is the heart of the adjustment effort that the government needs to undertake. “There is an immediate need to stabilise the economy,” she said, adding that “revenue collection is essential to this.” Regarding the mini-budget she ... Read More »

Non-food group contributes 93pc to inflation: SBP


KARACHI: Non-food inflation’s weighted contribution to the overall Consumer Price Index (CPI) went up to 93.37 per cent in December 2018 from 88.78pc in the preceding month. According to the State Bank of Pakistan’s Inflation Monitor — December 2018, the share of food inflation, however, witnessed a drastic fall in the overall CPI basket. “The weighted contribution of food group ... Read More »

France to provide soft loan for Peshawar Bus Rapid Transit Project

EAD France agreement

ISLAMABAD: France will provide one hundred and thirty million Euros soft loan for Peshawar Sustainable Bus Rapid Transit Corridor Project. Secretary Economic Affairs Division (EAD), Noor Ahmed, Marc Barety, Ambassador of France, and Jacky Amproou, Country Director of the French Agency for Development (AFD), on Tuesday signed a Credit Facility Agreement worth Euros 130m for financing Peshawar Sustainable Bus Rapid ... Read More »

Aleema Khan fails to submit remaining fine as deadline ends

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ISLAMABAD: Aleema Khan sister of Prime Minister Imran Khan has failed to submit the remaining amount of fine in the Dubai flat case as the deadline ended on Tuesday. According to details, Federal Board of Revenue (FBR) official said that Aleema Khan has not submitted the amount of Rs20.2 million so far. Earlier, Securities and Exchange Commission of Pakistan (SECP) ... Read More »

Senate finance body internal meeting will be held today


ISLAMABAD: A very important internal meeting of the standing committee on Finance, Revenue and Economic Affairs will be held under the chairmanship of Senator Farooq. Hamid Naek. Sources told Customs Today that during the meeting the participants will discuss the matter regarding ratification of nominees of the policy board of the Federal Board of Revenue by the standing committee on ... Read More »

ICCI laud appointment of Sardar Tanvir as chairman PBIT


ISLAMABAD: A delegation of Islamabad Chamber of Commerce & Industry led by its President Ahmed Hassan Moughal called on Sardar Tanvir Ilyas Khan and congratulated him on being appointed as Chairman, Punjab Board of Investment and Trade (PBIT). Iftikhar Anwar Sethi Vice President ICCI, Zubair Ahmed Malik Chairman Founder Group, Muhammad Ejaz Abbasi Vice President FPCCI, Abdul Rauf Alam, Khalid ... Read More »

Poultry, gems, jewelry & marble industry expanding: RCCI

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RAWALPINDI: The Rawalpindi Chamber Of Commerce and Industry (RCCI) President Malik Shahid Saleem has said that Rawalpindi is the fourth largest city of Pakistan and it should be included in CPEC Industrial Zones. pharmaceutical, poultry, gems and jewelry, marble and cement industry is flourishing the Pothohar region. He expressed these views while talking to the Punjab Chairman on Board of ... Read More »

Two LNG ships dock at port simultaneously

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KARACHI: Pakistan created history with the docking of two liquefied natural gas (LNG)-carrying ships “in one tide” at Port Qasim, Karachi, in the early hours of Saturday. The mooring has also averted the emerging gas crisis in the country. Federal Minister for Maritime Affairs Syed Ali Haider Zaidi tweeted, “kudos to our team at Port Qasim. History has been written ... Read More »

KSE-100 gains 237 points, led by auto, oil, banks

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KARACHI: The stock market advanced on Monday, led by auto, oil and bank stocks on attractive valuations. The KSE-100 index opened up in the wake of higher global crude oil prices, speculation about the outcome of Prime Minister Imran Khan’s visit to Qatar and likely announcement of tax reforms in the upcoming mini-budget, which pushed the index above 39,500 points. ... Read More »

FBR assigns look after charge of collector Islamabad to Ms. Seema Raza Bokhari


ISLAMABAD: Federal Board of Revenue (FBR) assigned look after the charge of collector Customs Collectorate Islamabad to Ms. Seema Raza Bokhari. According to notification no: 0191-C-I/2019, Ms. Seema Raza Bokhari, a PCS/BS-20 officer, presently posted as collector, Collectorate of Customs Adjudication, Islamabad is assigned to look after the charge of the post of collector, Customs Collectorate Islamabad in addition to ... Read More »

Bullish sentiments prevail


KARACHI: Pakistan Stock Exchange witnessed bullish trend during the outgoing week ended January 18, 2019 on the back of selective buying mainly by local investors. BRIndex100 gained 36.73 points on week-on-week basis to close at 4,164.14 points. Average daily volumes stood at 111.789 million shares. BRIndex30 increased by 143.47 points to close at 21,988.04 points with average daily turnover of ... Read More »

Ms. Rabia Yaseer Durrani relinquishes charge of secretary (EOI)


ISLAMABAD: Federal Board of Revenue (FBR) issued orders for relinquishment of the charge of the post of secretary (EOI). According to notification no: 0187-IR-I/2019, in pursuance of FBR’s notification no: 0142-IR-I/2019, dated 14.1.2019, Ms. Rabia Yaseer Durrani, BS-19 officer of Inland Revenue Service has relinquished the charge of the post of Secretary (EOI), International Taxes, Federal Board of Revenue (Headquarters), ... Read More »

PSO in hot waters as launch of Rs200b bond delayed


ISLAMABAD: Due to the delay in the launch of Rs200 billion Islamic bond to rescue the troubled energy sector has put the largest state-owned firm Pakistan State Oil (PSO) is in dire straits with its receivables going beyond a record Rs364 billion. According to the details, receivables from the power sector alone had touched Rs265bn as of Jan 18 because ... Read More »