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Author Archives: CT Report

KCCI finalizes 19 sub-committees, 4 special committees for 2018-19

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KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) appointed Chairpersons of 19 Sub-Committees and four Special Committees for the year 2018-19. Chairman Businessmen Group & Former President KCCI, Siraj Kassam Teli, Vice Chairmen BMG Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Junaid Esmail Makda, Senior Vice President KCCI Khurram Shahzad and Vice President KCCI Asif ... Read More »

Hammad Azhar says planning for long-term tax reforms

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ISLAMABAD: Minister of State for Revenue Muhammad Hammad Azhar has said that he is planning for long-term tax reforms and working on improved technology to allow the government to tap existing financial databases to help identify tax dodgers. “There is a lot of catching up to do,” Azhar told and international news agency in an interview. One of the world’s ... Read More »

Pak rupee makes recovery in cash-free market

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KARACHI: The Pakistani rupee on Friday made recovery against the US dollar in open market and remained unchanged in interbank. As per local money market, the dollar shed 20 paisas in cash-free market for buying at Rs133,70 and for selling at Rs134.40, while US currency closed unchanged in interbank for buying at Rs133.70 and for selling at Rs133.90. On Thursday, ... Read More »

12 IR officers of BS 20-21 reshuffled

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ISLAMABAD: Federal Board of Revenue has transferred/posted 12 Inland Revenue Service officers of BS 20-21 with immediate effect and until further orders. According to the FBR notification, the officers who are drawing performance allowance will continue to draw this allowance on the new place of posting. They have been asked requested to relinquish/assume charge, using online HRMS facility made available ... Read More »

Asim Ahmad assumes charge as DG Internal Audit-IR

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ISLAMABAD: Asim Ahmad, a BS-21 officer of Inland Revenue Service, has assumed charge as Director General, Directorate General of Internal Audit (Inland Revenue), Islamabad. The officer, in pursuance of Board’s Notification No. 2015-IR-I/2018, dated 02.11.2018, relinquished the charge of the post of Chief Commissioner-IR, Large Taxpayers Unit, Lahore with effect from November 05, 2018 and took the charge of the ... Read More »

Rs360m transferred from Dar’s account to Punjab govt

Ishaq Dar

LAHORE: Rs360 million has been transferred from the bank account of former finance minister Ishaq Dar to the Punjab government. In October, an accountability court ordered the auction of Ishaq Dar’s assets and confiscated his bank accounts in Pakistan on a plea by the National Accountability Bureau. NAB had filed the petition after Dar went to London for medical treatment ... Read More »

Asim Majid takes charge as Lahore Chief Commissioner-IR

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ISLAMABAD: Asim Majid Khan, a BS-21 officer of Inland Revenue Service, has assumed charge as Chief Commissioner-IR, Large Taxpayers Unit, Lahore. The officer, in pursuance of Board’s Notification No. 2015-IR-I/2018, dated 02.11.2018, relinquished the charge of the post of Chief Commissioner-IR, Regional Tax Office-II, Lahore with effect from November 05, 2018 and took the charge of the post of Chief ... Read More »

Nawaz dissociates himself from Qatari letters

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ISLAMABAD: Former Prime Minister Nawaz Sharif expressed his disassociation with Qatari letters and documents submitted by his sons before Supreme Court and Joint Investigation Team on Panama JIT. Nawaz said that the letters of Qatri prince were related to the Avenfield property and 12 million AED received from the sale of Gulf Steel Mills in 1980. His name was not ... Read More »

7 Inland Revenue officers of BS 17-20 transferred

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ISLAMABAD: Federal Board of Revenue has transferred/posted seven Inland Revenue Service officers of BS 17-20 with immediate effect and until further orders. According to the FBR notification, the officers who are drawing performance allowance will continue to draw this allowance on the new place of posting. They have been asked requested to relinquish/assume charge, using online HRMS facility made available ... Read More »

NAB to probe into defective cameras

NAB chairman Justice (retd) Javed Iqbal

ISLAMABAD: The apex anti-corruption watchdog has directed to verify a complaint against the 600 malfunctioning surveillance cameras of the federal capital’s Safe City project. The complaint verification was directed by National Accountability Bureau (NAB) Chairman Justice (retired) Javed Iqbal on Thursday as he took notice of the malfunctioning surveillance cameras. The NAB Rawalpindi director general was directed to submit details ... Read More »

Customs I&I DG Zahid Khokhar transfers officers, lower staff

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ISLAMABAD: Customs Intelligence & Investigation Director General Muhammad Zahid Khokhar has transferred a number of officers of his directorate with immediate effect. Superintendent Saifullah has been transferred from Headquarters (HQ), Islamabad and posted at Regional Office (RO) Lahore. Intelligence Officers Shabich Haider, Liaquat Ali and Muhammad Aslam Nadeem have been moved from Headquarters, Islamabad and posted at Regional Office (RO), ... Read More »

Czech model heroin case adjourned till today

model Tereza Hluskova

LAHORE: A sessions court on Thursday adjourned till today (Friday) the hearing of a heroin smuggling case against Czech model Tereza Hluskova who was arrested at Lahore airport while trying to smuggle 9 kilograms of heroin. Additional Sessions Judge Ali Raza adjourned the hearing till today (Friday) for recording of evidence. The court has recorded the statements of various prosecution ... Read More »

No trade at Torkham border for third day

Torkham Border Trade

LANDI KOTAL: Trade activities at the Torkham border remained halted for another day on Thursday as no breakthrough made in negotiations between the customs clearance agents and the assistant collector on new regulations on the import of items failed to make any headway. The issue arose after the government imposed a new paperless goods declaration processing system (WeBOC). However, an ... Read More »

IMF wants up to Rs100b increase in FBR tax collection

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ISLAMABAD: The International Monetary Fund (IMF) has asked the Pakistani government to increase FBR’s tax collection up to Rs100 billion in a bid to materialise the real potential of tax collection machinery. “The IMF wants to increase the FBR target by Rs70 to Rs100 billion as discussions are underway to finalise the target in line with the real potential of ... Read More »

Sialkot exporters should avail business opportunities in Bangladesh

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SIALKOT: High Commissioner of Bangladesh in Pakistan Tarik Ahsan has asked the Sialkot exporters to come forward and explore the untapped international trade markets of Bangladesh to promote the strengthened bilateral trade between Pakistan and Bangladesh. He said that Bangladesh was very keen to enhance the mutual bilateral trade ties with Pakistan, besides, finding out trade, tourism and business opportunities ... Read More »

Omer Jaffer stresses need to improve ties between business communities of Karachi, Brazil

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KARACHI: Honorary Consul of Brazil Omer Jaffer has said that trade between Pakistan and Brazil has picked up pace but more efforts along with concrete steps have to be taken to further ties between the business communities of Karachi and Brazil. Speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI), he requested the Karachi ... Read More »

Industry asked to focus on BSC for improving competitiveness

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ISLAMABAD: The Islamabad Chamber of Commerce & Industry in collaboration with Skill Development Council, Islamabad organized a workshop on “Cost Reduction & Profit Maximization” for the education of local industry how to improve its competitiveness and enhance productivity. Mian Akram Farid Chairman Skills Development Council, Saqib Mahi ud Din Advisor Skills Development Council, Hassan Haider CEO Asian Institute of Competitiveness, ... Read More »

US businessmen hold B2B meetings with Pakistani counterparts

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LAHORE: An eleven-member delegation of US businessmen, led by the Mayor of Bolingbrook (USA) Mr. Roger C Claar, had B-2-B meetings with their Pakistani counterparts to ensure strong sector-specific liaison. The LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir, Vice President Fahim-ur-Rehman Sehgal spoke highly about the trade and economic relations between Pakistan and United States of America. ... Read More »

Hong Kong shares flat ahead of Tencent results

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HONG KONG: Hong Kong shares recouped some early losses to end Wednesday’s morning session little changed, with heavyweight Tencent Holdings swinging between gains and losses ahead of its quarterly earnings. Social-media and gaming company Tencent was up 0.4% by noon in Hong Kong ahead of its third-quarter earnings report due after markets close on Wednesday. The stock, which had opened ... Read More »

UAE likely to see $50bn skilled labour gap by 2030

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Dubai : Businesses focus too much on technology as opposed to human labour, causing a skill gap in the market, according to the MD of Korn Ferry By 2030, the UAE is likely to experience a skilled labour gap worth $50 billion, making up 5 percent of the economy, according to Jonathan Holmes, country chair and managing director of Korn ... Read More »