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Author Archives: CT Report

Dar discusses financing of Dasu hydropower project

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ISLAMABAD: Federal Finance Minister, Mohammad Ishaq Dar here chaired a combined meeting of the officials of World Bank, Water and Power, Finance, Planning and Development and Economic Affairs Divisions. During the meeting financing proposals for Dasu hydropower project were presented. The Finance Minister was informed by World Bank officials that ten leading international contracting companies expressed interest in bidding for ... Read More »

Pakistan issues postage stamp to mark 100 years of Urdu in Turkey

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ANKARA: Pakistan-Turkey cultural collaboration reaches a new milestone as the two countries celebrate the 100 years of Urdu in Turkey. About 100 years ago, formal teaching of Urdu language and literature commenced at “Darul Funoon” (Edebiyat Faculty) at Istanbul University in 1915. As part of celebrations of ‘100 Years of Teaching of Urdu in Turkey,’ the Istanbul University, in collaboration ... Read More »

LCCI slams anti-Kalabagh Dam elements

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LAHORE: The Lahore Chamber of Commerce and Industry suggested the governments not to take any pressure on Kalabagh Dam as people talking against this mega project are not well wishers of the Pakistan and actually are interpreting the sentiments of anti-Pakistan elements. In a statement issued here, the LCCI president Sheikh Muhammad Arshad, senior vice president Almas Haider and vice ... Read More »

Businessmen asked to invest in hydropower projects in AJK‏

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ISLAMABAD: Azad Kashmir offers tremendous investment opportunities in hydropower, minerals, tourism, handicrafts, small industries and other sectors and Pakistani investors should take full advantage of these lucrative prospects by enhancing investment in AJK. This was stressed by Ch. Muhammad Yaseen, Senior Minister of Azad Jammu and Kashmir while exchanging views at Islamabad Chamber of Commerce and Industry. He visited ICCI ... Read More »

Govt to levy 10 percent regulatory duty on import of cotton yarn

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ISLAMABAD: Finance Minister Mohammad Ishaq Dar held a series of meetings with representatives of APTMA and Value Added Sectors. After in-depth deliberations, it was decided that regulatory duty @ 10% shall be levied on import of cotton yarn and  grey and processed fabric with effect from 1st November, 2015. Export Re-financing Facility (ERF) rate shall be reduced by 1% (100 ... Read More »

LCCI aims to promote trade and investment in Pakistan

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LAHORE: President of the Lahore Chamber of Commerce and Industry Sheikh Muhammad Arshad said that solution of economic challenges lies in strengthening of public-private partnership. He was talking to the delegations of Auto Air conditioning Association of Pakistan led by Malik Muhammad Nadeem, delegation of Pakistan Auto and Spare Parts Importers and Distribution Association (PASPIDA), Homoeopathic Association led by Saifur ... Read More »

Traders asks FBR, CDA to facilitate in growth of business activities‏

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ISLAMABAD: The complicated taxation system, high rates of taxes and lack of better infrastructure development in markets are the main hurdles in business promotion and FBR and CDA should address these issues on priority to facilitate the growth of business activities, observed Atif Ikram Sheikh, President, Islamabad Chamber of Commerce. He was addressing a delegation of traders that visited Chamber ... Read More »

KPCCI approves organizing of “Made in Khyber Pakhtunkhwa” expo

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PESHAWAR: The executive committee (EC) of Khyber Pakhtunkhwa Chamber of Commerce and   Industry (KPCCI) has approved the organizing of trade-expo on titled: “Made in Khyber Pakhtunkhwa” and investment conference, aiming at to promote locally manufacturing products in benefiting manner, besides to attract investment in the province. The committee meeting was held under president of KPCCI Zulfiqar Ali Khan in chair ... Read More »

Pakistan intends to develop strong trade relations with Kuwait: Ghulam Dastgir

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SIALKOT: Pakistani Ambassador to Kuwait Ghulam Dastgir has said that Pakistan intending to develop its strong bilateral trade relations with Kuwait , saying that Pakistan could have lot of opportunities to explore and capture the international trade markets of Kuwait and other Gulf countries through Kuwait. He said that the Pakistani government was making all out sincere efforts to promote ... Read More »

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

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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

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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

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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

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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

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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

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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

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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

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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 »