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Author Archives: CT Report

Pakistan bears loss of Rs 92b due to under-invoicing of imports from China

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ISLAMABAD: Pakistan economy has facing a huge losses due to under invoicing of imports from China and in first financial year of present regime national exchequer  has face a loss of Rs 92 billion due to under invoicing of imports from china. This was disclosed in Auditor General of Pakistan report which was submitted to finance ministry for presenting in ... Read More »

LCCI concerns on poor performance of LESCO authorities

lcci

LAHORE: The Lahore Chamber of Commerce and Industry Thursday while showing its dismay on the poor performance and bureaucratic attitude of LESCO authorities, has called for LESCO revamping to overcome huge distribution losses revealed in a study conducted by its own Board of Directors. In a statement issued here, the LCCI president Sheikh Muhammad Arshad said that a total overhauling ... Read More »

Pakistan, Turkey hold dialogue on Free Trade Agreement

1 Signing of TORs

ANKARA:  Pakistan and Turkey commenced negotiations on a bilateral Free Trade Agreement (FTA). The inaugural session of FTA negotiations concluded in Ankara. The decision to have a Pakistan-Turkey Free Trade Agreement was taken by Prime Minister Muhammad Nawaz Sharif and Prime Minister Ahmet Davutoglu during the 4th session of the High Level Strategic Cooperation Council (HLSC) in Islamabad in February ... Read More »

LCCI launches membership form in Urdu

lcci

LAHORE: In line with Supreme Court of Pakistan’s orders, the Lahore Chamber of Commerce and Industry on Wednesday took another historic initiative by issuing its membership form in Urdu. The form in Urdu is easy to understand and would enable small businessmen to get it done without any external help. The LCCI president Sheikh Muhammad Arshad said that during his ... Read More »

World Bank Country Director calls on Ishaq Dar

Ishaq Dar

ISLAMABAD:  The newly appointed World Bank Country Director for Pakistan, Patchamuthu Illangovan called on Finance Minister, Mohammad Ishaq Dar here. The Federal Finance Minister Dar welcomed Patchamuthu Illangovan to Pakistan and assured him of full support and cooperation during his tenure. The new Country Director conveyed to the Finance Minister warm regards from World Bank President and Managing Director and ... Read More »

WB country director calls on Ishaq Dar

wb

ISLAMABAD: The newly appointed World Bank (WB) Country Director for Pakistan, Patchamuthu Illangovan called on Finance Minister Ishaq Dar on Wednesday. Ishaq Dar welcomed Patchamuthu Illangovan to Pakistan and assured him of full support and cooperation during his tenure. The new Country Director conveyed to the Finance Minister warm regards from World Bank President and Managing Director and lauded the ... Read More »

APTMA observes black day today

aptma

KARACHI: All Pakistan Textile Mills Association (APTMA) has observed a black day today and all textile mills remained closed all the day across the country. According to the sources, APTMA has observed total shut down across the country for showing their great concerns over the electricity tariff, shortage of industrial gas and zero trade duty on industry. As per details, ... Read More »

LCCI announce to join hands with APTMA

lcci

LAHORE: The Lahore Chamber of Commerce and Industry Tuesday, while expressing solidarity with All Pakistan Textile Mills Association (APTMA), urged the government to give relief package to the textile industry that has almost collapsed. In a statement issued here, the LCCI president Sheikh Muhammad Arshad said that the high cost of doing business has not only ousted Pakistani textiles from ... Read More »

DG Customs Valuation determines values of furnishing fabrics

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KARACHI: The Directorate General of Customs Valuation determined the customs values of furnishing fabrics vide Valuation Ruling No 765/2015. The customs values of cotton fabric were determined under Section 25-A of the Customs Act, 1969. According to details, the Appraisement-West pointed out that fabric values determined by the directorate needs upward revision keeping in view the international prices. Therefore, an ... Read More »

Bhikki Power Plant to give new lease of life to industrial sector: LCCI

lcci

LAHORE: The Lahore Chamber of Commerce and Industry hoped that 1180 MW Bhikki Power Plant will give a new lease of life to the industrial sector that is in dire need of sufficient cheaper electricity to enhance momentum of its production. In a statement issued here, the LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Haider and Vice President ... Read More »

Pak Railways earns Rs 7,220m revenue for cargo transportation

Pakistan railways

KARACHI: The Pakistan Railways, which was once in financial crisis, has become a profitable institution as it generated revenue of Rs 7,220 million against the target of Rs 4,554 million in the last fiscal year i.e. 2014-15. At all, the Pakistan Railways was given an overall target of Rs 9,328 million for the FY 2014-15 however the institution surpassed the ... Read More »

Pakistan-Qatar traders should start joint ventures: Ghaznavi

LCCI

LAHORE: Former vice president of the Lahore Chamber of Commerce and Industry Syed Mahmood Ghaznavi and head of a trade delegation visiting Qatar, said that collaboration between Pakistani and Qatari businessmen would give a jumpstart to the mutual trade therefore businessmen of the both countries should start joint ventures (JVs). While addressing a meeting at Qatar Chamber of Commerce and ... Read More »

Dastagir assures smooth supply of urea to farmers

Khurram Dastagir Khan

ISLAMABAD: Federal Minister for Commerce Khurram Dastagir Khan held a meeting at Trading Corporation of Pakistan head office to review the operations and performance of the Trading Corporation of Pakistan for the period 2014-15 and first quarter 2015-16. The Minister for Commerce was informed that the federal government has released a sum of Rs 57.1 billion as subsidy on Urea ... Read More »

Lt. Gov. Tina Smith visits Merrifield to talk about industrial sector

ROBOTIC MANUFACTURING

DUBLIN: Lt. Gov. Tina Smith visited Merrifield to talk about an industrial sector that employs roughly 2,400 people in the Brainerd lakes area manufacturing. Smith spoke during Lakes Area Manufacturing Breakfast at Clow Stamping, which drew local government officials, business executives and legislators. Gov. Mark Dayton declared the week of Oct. 1-10 “Minnesota Manufacturers Week.” Smith’s remarks to the gathering ... Read More »

Spanish envoy calls on Finance Minister Ishaq Dar

Ishaq Dar

ISLAMABAD:  The Spanish envoy in Pakistan Carlos Cesar Morales called on Finance Minister Mohammad Ishaq Dar. During the meeting the Finance Minister that the Spanish companies were eager to invest in Pakistan in view of the economic performance of the last two years which was acknowledged by international rating agencies as well as financial institutions. He especially mentioned the fields ... Read More »

Ziaul Haq elected as president customs agent group KPK

election

PESHAWAR: Director Pak-Afghan Joint Chamber of Commerce and Industry, Vice Chairman All Pakistan Customs Agent Association Zia-ul Haq Sarhadi elected president of Customs agent group Khyber Pakhtunkhwa while Saqib Benori elected chairman of the same group. The meeting was held under the chair of Zia-ul-Haq Sarhadi. The participants on the occasion unanimously elected Zia-ul-Haq Sarhadi chairman for the customs agent ... Read More »

LCCI forms Council on Kalabagh Dam

lcci

LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) decided to constitute “Council on Kalabagh Dam” that would pave way for early completion of this mega project. The Council would have experts, technocrats, business community leaders, ex-officio and representatives of the Chambers and other trade bodies in its fold. The decision of formation of this Council was made by the ... Read More »

US businessmen keen to invest in Pakistan: US diplomat

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ISLAMABAD: Despite security issues and other concerns, many US companies were showing keen interest to explore Pakistan for investment and joint ventures, observed Cheryl J. Dukelow, Commercial Counselor, Embassy of the United States of America during an interaction with business community at Islamabad Chamber of Commerce and Industry. She said it was unfortunate that foreign media was not portraying true ... Read More »

Port Qasim Authority leases 253.81 acres of land on different prices

port qasim

ISLAMABAD (Sanaullah Khan): Port Qasim Authority leased out 253.18 acres of land to three companies, surprisingly on different prices during last two years on the directions of federal government. It has been disclosed in official documents of Ministry of Ports and Shipping exclusively available with Custom Today. According to these documents Port Qasim Authority leased 40 acres to Pak Suzuki ... Read More »

Belgium keen to enhance trade ties with Pakistan: Envoy

KCCI-Belgium

KARACHI: The Ambassador of Belgium, Frederick Verheyden informed that a multisectoral trade delegation from Belgium, comprising representatives of 12 leading companies, was currently on a visit to Pakistan to explore opportunities of enhancing trade between the business communities of the two countries. Exchanging views with KCCI office bearers during his visit to KCCI, the Belgian Ambassador added that many Pakistani ... Read More »