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Author Archives: CT Report

Pak-Saudi Chamber, Smeda sign MoU

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LAHORE: The Small and Medium Enterprises Development Authority (Smeda) and the Pak-Saudi Joint Chamber of Commerce and Industry (PSJCCI) inked a memorandum of understanding (MoU) to facilitate joint ventures between the two brotherly countries in the SME sector. The MoU’s manuscript was signed by the authority’s CEO Muhammad Alamgir Chau­dhry and PSJCCI President Mian Mehmoodul Hassan at Smeda’s head office. ... Read More »

Axact scam: FIA to shift Shoaib Shaikh to Islamabad

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KARACHI: Preparations are afoot for shifting to Islamabad Axact CEO, Shoaib Shaikh and other suspects in connection with the company’s alleged involvement in the issuance of fake degrees online and money laundering, sources at Federal Investigation Agency said on Wednesday. The FIA will formally submit request with the Sindh Home Deparment and a local court, seeking permission to shift Shoaib ... Read More »

Dar calls for ensuring stable poultry prices during Ramazan

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ISLAMABAD: Federal Finance Minister Ishaq Dar called for ensuring fair and stable poultry prices during the holy month of Ramazanul Mubarik. He said that in view of the sanctity of Ramazan and to facilitate people at large, the Poultry Association should closely monitor the poultry prices. He was talking to a four-member delegation of the Poultry Association of Pakistan, which ... Read More »

Govt urged to resolve issues to promote foreign investment‏

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ISLAMABAD: Showing great concerns over 47 percent fall in foreign direct investment during July-May 2014-15 compared to the same period of last year, Islamabad Chamber of Commerce and Industry has called upon the government to take emergency steps for resolving all key issues that are holding back foreign investors from exploiting huge investment potential in various sectors of Pakistan’s economy. ... Read More »

Pakistan Steel Mills receives 73,000 MTN of Iron Ore

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KARACHI: Two cargo vessels namely M.V. Alam Murni and M.V. Eastern Star reached at Pakistan Steel Jetty, Port  Qasim during last week. The Vessel M.V. Alam Murni carrying 50,000 MT iron ore of Brazilian origin is currently discharging the cargo and Vessel M.V. Eastern carrying 23000 MT iron ore is at the outer, said a press release of Pakistan Steel. ... Read More »

Oil traders lobby blamed for delay in LNG imports

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  ISLAMABAD: A lobby of oil importers have been claimed to be involved in hindering the import of liquefied natural gas (LNG) from Qatar in a government-to-government arrangement, said Shahid Khaqan Abbasi Minister of Petroleum and Natural Resources. “The oil lobby doesn’t want to see LNG imports replace furnace oil in the production of electricity,” this is what Abbasi said ... Read More »

KPK Budget 2015-16: Govt to construct 10 micro hydle power plants in KP

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PESHAWAR: The government will construct ten micro hydel power plants in the province, besides a technical laboratory, said Khyber Pakhtunkhawa Finance Minister, Muzafar Said Advocate in his budget speech here Monday. Minister Muzafar said that 39 projects for energy sectors in the budget have been proposed to overcome the shortage of energy and also eliminate the load-shedding in the country. ... Read More »

Punjab CNG Stations reopen for business

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LAHORE: CNG Stations across Punjab reopened for business on Monday and will continue without a break for the next ten days according to schedule issued by Sui Northern Gas Pipelines Limited. Out of 210 CNG stations in Lahore, CNG will be available at 90 stations. The CNG dealers association confirmed to media persons that gas supply will continue unhindered for ... Read More »

Islamabad to become secured city for business and investment:  IG Police

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ISLAMABAD” Islamabad Safe City Project will be launched soon to make Islamabad a safe, secured and business and investment friendly city. 1890 security cameras will be installed in Islamabad having face recognition and vehicle numbers reading features to nab any suspect person. After installation of these cameras, many police check points will be removed and check points will be kept ... Read More »

Sind Budget 2015-16: Govt announces 10% ad hoc relief allowance employees

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KARACHI: A ten percent ad hoc relief allowance on running basic pay will be allowed to all Sindh Government employees with effect from July 2015, said the Provincial Finance Minister, Syed Murad Ali Shah, in his budget speech on Saturday. Sharing details of the raise in pays and allowances for the provincial government employees, he said ad-hoc increases of 2011-2012 ... Read More »

Strengthening farmers’ ability key to food security: Senator Mushahidullah

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ISLAMABAD: Ministry of Climate Change and World Food Prgramme (WFP) have agreed to work together to address climate risks to agriculture sector and issues of escalating food insecurity and malnutrition in the country. “Boosting agriculture productivity cannot be achieved as long as the sector is not climate-resilient and able to sustain climate-induced disasters, such as floods, heavy rains, hailstorms and ... Read More »

CM Balochistan Malik urges PM to extend financial cooperation

Balochistan Chief Minister Abdul Malik Baloch

QUETTA: Chief Minister Balochistan Dr Abdul Malik Baloch urged Prime Minister Muhammad Nawaz Sharif to guide his government in development matters, besides extending financial cooperation to Balochistan province. He was speaking at the ceremony held in connection with expansion of an oil refinery in Hub area of Lasbela district, on Friday. Prime Minister Muhammad Nawaz Sharif, federal and provincial ministers ... Read More »

NASA to deploy first interplanetary CubeSats for next Mars mission

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ISLAMABAD: U.S. space agency NASA said that its next Mars landing mission in 2016 will include two CubeSats, the first time such tiny satellites have been deployed in deep space. Known as Mars Cube One, or MarCO, the CubeSats will fly by Mars while insight, NASA’s next Mars lander, descends to the Martian surface in September 2016, NASA said. “If ... Read More »

Pak economy improves in after 2013 polls: WSJ report

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WASHINGTON: Pakistan’s economy has improved in recent past despite security challenges and energy problems, said a Wall Street Journal report that was about investors’ interest in a public offering of a multi-billion shopping mall in Karachi. Pakistan’s main stock market has gained 72 percent since the 2013 election that brought the government of Prime Minister Nawaz Sharif into power, according ... Read More »

Punjab budget focuses on maximum for masses: Dr Ayesha

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LAHORE: Punjab Finance Minister Dr Ayesha Ghouse Pasha Saturday said that the main focus of the provincial budget 2015-16 was on ensuring maximum ease for the poor, youth empowerment, overcoming energy crisis, increased agricultural produces, infrastructural development and a viable tax regime. Addressing the post-budget press conference here, she said that the salient features of Punjab’s economic growth strategy were:raising ... Read More »

Steps being taken for uninterrupted power supply in Sehar, Iftar: Minister  

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FAISALABAD: State Minister for Water and Power Chaudhary Abid Sher Ali has said all possible steps are being taken to provide uninterrupted power supply to consumers during Sehar and Iftar in Ramzan. Speaking at inauguration ceremony of expansion project of Transformer Reclamation Workshop of Faisalabad Electric Supply Company (Fesco) here on Saturday, he said all grid stations and other installations ... Read More »

Axact scam: FIA gains access to data of 25 porn websites

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KARACHI: The Federal Investigation Agency (FIA) said that during forensic examination of the servers and computers of Axact it has emerged that the company was also involved in providing hosting services to 25 porn websites. According to FIA sources, these porn websites were also designed and developed on the computers of Axact that are presently in FIA’s custody. The forensic ... Read More »

‘Punjab Budget 2015-16 to bring prosperity in province’: Ranjha

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SARGODHA: Punjab Budget 2015-16 is balanced and people-friendly, which would bring prosperity in the province. Talking to APP on Saturday, Parliamentary Secretary on Kashmir and Gilgit Baltistan Ch. Hamid Hameed and District president PML-N Shahnawaz Ranjha said that projects like self-employment, orange line would open a new era of progress and prosperity in the province. They said the allocation of ... Read More »

Steps for agriculture improvement hailed

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LAHORE: The Punjab government’s steps for strengthening the agriculture sector were reflective of the PML-N sincere efforts to put the country on the road to progress. This was stated by progressive farmer from Okara Hameed Sultan while talking to APP on Saturday. He said the agriculture sector was a backbone of national economy and the sector just needed proper attention ... Read More »

Sindh Revenue Board exceeds budgetary targets, collects Rs 49m

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KARACHI: Sindh Revenue Board has emerged to be the tax authority that has exceeded its budgetary targets by collecting Rs 49 billion, above 24 percent from last year, said the Finance Minister for Sindh, Syed Murad Ali Shah on Saturday. Citing the performance of STB as exemplary, the Minister in his budget speech said that despite a reduction in the ... Read More »