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Author Archives: CT Report

LCCI, BELCCI signs MOU to promote economic ties


LAHORE: Lahore Chamber of Commerce and Industry (LCCI) and Mogilev Branch of the Belarusian Chamber of Commerce and Industry (BELCCI) have inked a Memorandum of Understanding (MOU) on Tuesday in the presence of Prime Minister Nawaz Sharif and his Belarusian counterpart Andrey Kobyakov. The LCCI President Sheikh Muhammad Arshad inked the MOU on behalf of the LCCI while Mogilev Branch of ... Read More »

Federal govt not releases single penny despite its promises so far says Qaim Ali Shah


KARACHI: Chief Minister Sindh Syed Qaim Ali Shah has said that although the federal government committed to give Rs 12 billion to Sindh government long time ago for equipping the police department with necessary equipment and ammunition including bullet proof cars and jackets so that they could effectively deal with criminals but not a single penny has been released in ... Read More »

LCCI urges govt to launch tax reforms after consultation with traders


LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Sheikh Muhammad Arshad has urged the government to introduce tax reforms in consultation with the stakeholders to promote tax culture in the country. Talking to a 25-member delegation of tax lawyers led by the Zulfiqar Khan, the LCCI president said that most of the challenges being faced by the economy are directly ... Read More »

Pakistan Cotton Ginners Asspcoatopm rejects cess tax on cotton bale‏

India cotton

MULTAN: Pakistan Cotton Ginners Association (PCGA) rejected cess tax from government on each bale of cotton. Government department’s policy on cotton and standardization performance is almost zero and government current policy on cotton is also damaging our industry and business. Pakistan Cotton Ginners Association announced to launch awareness campaign in the country for protecting industry from further destruction. Pakistan Cotton ... Read More »

Chief Minister hosts dinner in honor of international seminar participants

shahbaz sharif 2

LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif hosted a dinner in honor of participants of international seminar held in connection with business opportunities in Punjab, here on second day of Seminar. Chief Minister and investors exchanged views regarding promotion of investment on the occasion. Chinese Ambassador Sun Weidong, Turk Ambassador Sadiq Babur Girgin, Speaker Punjab Assembly, Provincial Ministers, senior officials ... Read More »

Ishaq Dar reviews arrangements for Urs congregation of Daata Ganj Bakhsh


LAHORE: Finance Minister Mohammad Ishaq Dar here on Saturday chaired a meeting of Religious Purpose Committee of Daata Darbar to review arrangements of the 972nd Urs congregation of Hazrat Daata sahib. He impressed upon all officials of the Auqaf Department, provincial police, local administration and the Daata Darbar management to ensure quality arrangements for all the events including the national ... Read More »

Pakistan-South Korea signs MoU to promote trade activities ‏


ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) and Korea Importers Association (KOIMA) signed a Memorandum of Understanding to promote trade cooperation between Pakistan and South Korea. Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry and Taeyong Thomas Shin, Chairman, Korea Importers Association signed the MoU. Engr. Khurram Dastgir Khan, Federal Minister for Commerce and Jong Hwan ... Read More »

Finally CNIC replaces tax number

Tariq Bajwa

ISLAMABAD: The government has replaced national tax number (NTN) with the Computerised National Identity Card (CNIC) number, effective from the start of this month. As per details, in order to get some specific information about the taxpayer which is not included in the CNIC, a new enrollment form has also been notified which will be mandatory for e-filing of income ... Read More »

LCCI welcomes International Investment Conference


LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) has hoped that International Investment Conference in Islamabad and Lahore would pave way for much-needed foreign investment. In a statement issued here Wednesday, the LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that such events should be meaningful as foreign investment plays a ... Read More »

Chinese delegation shows interests to explore opportunities in development projects


ISLAMABAD: Chinese delegation of Tiesiju Civil Engineering Group Co., Ltd (CTCE) led by its Chairman Zhang Hechuan visited Islamabad Chamber of Commerce and Industry and showed keen interest to explore investment opportunities in infrastructure development projects in Pakistan. Zhang Hechuan said that CTCE was one of the largest construction enterprises in China with remarkable achievements in the fields of construction ... Read More »

South Korea keen to sign Free Trade Agreement with Pakistan to promote trade ‏


ISLAMABAD: South Korea was a major importer of copper ore with zero duty on its import and it was keen to import thousands of tons of copper ore from Pakistan to produce goods for exports, said Taeyong Thomas Shinn, Chairman, Korea Importers Association (KOIMA) during his visit to Islamabad Chamber of Commerce and Industry. He was accompanies by Sung-hoon Kang, ... Read More »

LCCI calls for acceptable solution of withholding tax on banking transactions


LAHORE: The Lahore Chamber of Commerce and Industry has urged the government to resolve the issue of withholding tax on banking transactions according to the wishes of the business community which is back bone of the economy and largest source of the revenue for the government. In a statement issued here, the LCCI president Sheikh Muhammad Arshad said that the ... Read More »

Brazil ready to help Pakistan in energy, agriculture sectors‏


ISLAMABAD: Brazil is the 7th largest economy of the world with lot of experience and expertise in various fields and it was ready to cooperate with Pakistan in overcoming its problems in energy, agriculture and other sectors, observed Claudio Raja Gabaglia Lins, ambassador of Brazil while addressing business community at Islamabad Chamber of Commerce and Industry. He said Brazil has ... Read More »

LCCI to prepare report on “Ease of doing business in Pakistan”


LAHORE: The Lahore Chamber of Commerce and Industry started work to prepare a report on “Ease of doing business in Pakistan”. The objective of this initiative is to identify the hurdles coming in the way of businesses and to suggest doable solutions to the government. The decision was made by the LCCI senior vice president Almas Hyder and endorsed by ... Read More »

Ex- president KCCI Siraj Teli appreciates campaign announced by DIG Amir Shaikh


KARACGI: Chairman businessmen group and Ex-President of the Karachi Chamber of Commerce & Industry (KCCI) Siraj Kassam Teli and President KCCI, Younus Muhammad Bashir, has highly appreciated the campaign announced by Karachi city’s Traffic Police (CTP) Chief, DIG Amir Ahmed Shaikh against all drivers violating traffic laws specially those driving without a license. They said that Sindh government immediately announced ... Read More »

Gepco’s “Enterprises Resource System Upgradation Program” lying in doldrums


SIALKOT: The Gepco’s multi-phased “Enterprises Resource System Upgradation Program” had been lying in doldrums, as it has not yet been started and waiting for urgent “go ahead”. Gepco had announced this program several years ago to computerize all the data of Gepco employees and consumers besides putting  all the Gepco development projects online, with an estimate cost of Rs. 600 ... Read More »

Tax returns can be filed till 30th November: Dar

tax returns

ISLAMABAD: Finance Minister Mohammad Ishaq dar while talking to media here Saturday evening announced one month extension in the date for filing tax returns for the tax year 2015. The new date for filing returns has been fixed at 30th November 2015; the previous date was 31st October 2015. The Minister added the decision has been taken in view of ... Read More »

Finance Minister Dar presides meeting of TRC


ISLAMABAD: Finance Minister, Ishaq Dar here on Saturday presided a session on the recommendations prepared by the Tax Reforms Commission (TRC). Chairman Federal Board of Revenue (FBR) gave a detailed presentation on these recommendations also putting forth viewpoint of FBR on the same. The recommendations among other measures for reforming the tax system, particularly emphasize simplification of laws, filing procedures ... Read More »

Dar urges officials to focus on DPC for equitable growth


ISLAMABAD: Finance Minister Mohammad Ishaq Dar presided a meeting here on Saturday to review progress on reform process regarding the proposed Development Policy Credit (DPC) for equitable growth. Senior officials of Ministry of Finance, FBR, SBP, SECP and others attended the meeting. Finance Minister on the occasion gave broad guidelines regarding the proposed reforms activities aiming at enhancing the investment ... Read More »

FBR collects Rs 223b tax revenue during October


ISLAMABAD: Federal Board of Revenue (FBR) has made a net collection of more than Rs. 223 billion, as against net collection of Rs. 183 billion made last year showing an increase of 22% during the month of October, 2015, according to the provisional figures FBR. It is expected that the final collection would further increase when the final figures are ... Read More »