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Author Archives: CT Report

UAE Customs set to launch new road transport system


ISLAMABAD: United Arab Emirates Customs is set to introduce a global road transport system which dramatically accelerates the movement of goods across frontiers. The International Road Transport (TIR) System, which slashes the time, trucks spend at customs controls, is being operational at the UAE’s borders by the end of current year. Sharjah and Umm Al Quwain Customs officials will sign ... Read More »

AJK govt to cancel allotment of industrial plots on not establishing industries by owners


MIRPUR: The Azad Jammu and Kashmir government Monday decided to cancel allotment of industrial plots located in various industrial estates as their allottees were unable to setup industrial units there. Sources told APP here on Monday that decision to this effect was taken in a recent high level meeting of AJK Industries Department. The department so far cancelled the allotment ... Read More »

Chambers call for levying tax on agri-income

Agri loan

LAHORE: Presidents of all chambers of commerce and industry on Monday called for levying tax on agricultural income across the country to broaden the tax base, and construction of water reservoirs on top priority to meet the ever increasing energy needs of the country. They also called for continuity in democratic set-up for a sustained economic growth, which would help ... Read More »

Dates farmers reaping benefits of PARC solar dryer technology


ISLAMABAD: The solar drying technology, introduced by the Pakistan Agricultural Research Council (PARC), is helping dates’ farmers to reduce the ripening time of crop to 3-4 day from 7-8 day, besides enhancing profitability and quality. Chief Scientist and Director General of Agricultural Engineering Division of PARC Dr Munir Ahmad said this at an “Inception Workshop on Post-Harvest Management and Value ... Read More »

Belarus minister for increasing trade with Pakistan


ISLAMABAD: Belarus and Pakistan need to reach $1 billion in mutual trade, Industry Minister of Belarus Vitaly Vovk said on Monday. “I have already said that we need to reach $1 billion in trade with Pakistan. Today we have $6-7 billion in trade with Ukraine which population is 45 million people,” the minister was quoted as saying by Belarusian news ... Read More »

Chairman visits under construction site of NAB headquarter

qamar zama chaudharyu

ISLAMABAD: Chairman National Accountability Bureau (NAB), Qamar Zaman Chaudhry on Monday visited under-construction site of office building for Bureau’s Headquarters in Islamabad and reviewed the physical progress made on ground. During the briefing, it was informed by Director General NAB that in light of the directions of Chairman during his last visit on under construction site, the work is in ... Read More »

BISP starts issuing Benazir Debt Cards to the beneficiaries

atm machine

MIRPUR: All the Mirpur-division based beneficiaries of Benazir Income Support Program (BISP) have been directed to immediately contact the nearest BISP offices with their computerized national identity card (CNIC) to get the Benazir Debt Card. This was stated by Director BISP Mirza Khizar Hayat on the occasion of launching of site of Benazir Debt Card here on Monday that June ... Read More »

Dar inaugurates SECP’s web portal


ISLAMABAD: Finance Minister Mohammad Ishaq Dar Monday inaugurated the investor education web portal of the Securities and Exchange Commission of Pakistan’s (SECP) here. The web portal `Jama Punji’ was envisioned to play a key role in the SECP’s overall investor education programme and awareness about different investment opportunities available in the country. The minister welcomed SECP’s initiative and hoped that ... Read More »

Economy gets into take-off position, no fear of down-slide: Ahsan

ahsan iqbal

ISLAMABAD: Minister for Planning, Development and Reforms Ahsan Iqbal on Monday said the national economy was in a take-off position due to prudent policies and reforms agenda of the government, and now there was no fear of down-slide. He stated this while addressing a press conference here at “P” Block Auditorium this afternoon. Secretary Planning and Development Hassan Nawaz Tarar, ... Read More »

FPCCI, SCCI lauds role of women entrepreneurs in national economy

fazal jilani

SIALKOT: The role of women entrepreneurs in strengthening national economy is encouraging and increasing the participation of businesswomen in business avenues. The doors should be kept opened for females and ensuring the provision of maximum business opportunities to the women entrepreneurs. Vice Chairman, FPCCI’s Young Entrepreneurs Development Committee, Zulfiqar Ali Bader stated this while addressing the participants of a seminar ... Read More »

Khursheedd Shah proposes live telecast of general debate on budget 

khursheed shah

ISLAMABAD: Opposition Leader in National Assembly Syed Khursheed Shah on Monday proposed that general debate on the budget should be broadcast live. Before opening debate on the Budget 2015-16, he asked the government to make arrangements to telecast speeches of opposition live. MNAs Shah Mahmood Qureshi, Rashid Godail and Mahmood Khan Achakzai were of the view that it was a ... Read More »

PR to operate Quetta-Zahedan freight train from Tuesday: Saad

Saad Rafique

LAHORE: Pakistan Railways will operate a new freight train from Quetta to Zahedan (Iran) via Taftan from Tuesday with the cooperation of the Iranian Railways. This was told by PR Minister Khawaja Saad Rafique in a press conference held at PR headquarters here on Monday. He said the train composition would consist of 24 freight vans which would further be ... Read More »

Pakistani businessmen in UAE hail federal budget 2015-16


ISLAMABAD: The Pakistani business community living in the United Arab Emirates (UAE) has lauded the growth-oriented federal budget for fiscal year 2015-16. Finance Minister Ishaq Dar presented the Rs 4.313 trillion budget for 2015-16 in the National Assembly on Friday, eyeing an ambitious growth target of 5.5 percent. The PML-N government plans to achieve growth rate of seven percent by ... Read More »

Pak traders can export more than 3,500 items to US duty free

export logo

PESHAWAR: Mr. James Fluker, Commercial Counselor of the US Embassy in the federal capital, held a meeting at the KP Chamber of Commerce and Industry to help local businesses understand how to be competitive in US markets. Mr. Fluker’s visit to Peshawar was a part of a US initiative to help Pakistani executives take advantage of these opportunities to grow ... Read More »

Pervaiz Elahi criticises Budget 2015-16


LAHORE: Former Chief Minister of Punjab Chudhry Pervaiz Elahi rejected the federal budget present by the Pakistan Muslim League-Nawaz government. He said that increment in the salaries of government employees was not up to the mark and termed 7 percent increase as joke with government servants. He added that tax imposition on dairy products would create hurdles for the agriculture ... Read More »

Govt asked to withdraw 25 additional duty on poultry feed

poultry feed

Lahore: Dr. Muhammad Mustafa Kamal, Chairman Pakistan Poultry Association warned of at least 25 percent jump in poultry products’ prices because the government has imposed overall 25 percent duties and taxes on all kinds of poultry feeds in the Budget-2015-16. The new budget of next fiscal year has demoralized and depressed the poultry farmers because Government has slapped 5 percent ... Read More »

Govt has not imposed tax on milk: Dar


ISLAMABAD: Finance Minister Muhammad Ishaq Dar Saturday said that the government had not imposed any tax on milk as reported in a section of press. The minister, in the post-budget press conference, said there was no increase in the price of milk as only packed yogurt and cheese had been taxed. The minimum price of a packed yogurt unit was ... Read More »

Budget 2015-16: Govt allocates Rs 100b for TDPs’ return, rehabilitation

Khyber Pakhtunkhwa Governor Sardar Mahtab Ahmad Khan

KARACHI: The government has allocated an amount of Rs 100 billion in the federal budget for the fiscal 2015-16 for the return and rehabilitation of the Temporarily Displaced Persons (TDPs). This includes money for the reconstruction of facilities such as schools, hospitals, roads, electricity, water which were affected in the area. “This is a very effective programme that would result ... Read More »

Exemption of sales tax on bricks, crush hailed


LAHORE: The exemption of sales tax on bricks and crush till June 30, 2018 by the government is a positive and far-reaching step to boost national economy. Talking to APP here on Saturday, Chief Executive Canal Forts Haji Nasir said that this would reduce construction cost and encourage the investors to invest in this sector. He said that the exemption ... Read More »

Rs 300 tax raise only on expensive mobile phones: Dar

cell phones

ISLAMABAD: Denying the media reports, Finance Minister Muhammad Ishaq Dar Saturday said that Rs 300 raise in tax was only on expensive mobile phones, which were usually used by the rich. He said the tax on expensive mobile phones was Rs 700, which had been proposed Rs 1,000 in the budget 2015-16. It was not correct that tax on mobile ... Read More »