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Author Archives: CT Report

Cutlery exports increase 21pc to $16m

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ISLAMABAD: The cutlery exports from the country witnessed an increase of 21.21 percent during the first two months of current financial year 2019-20 as compared to the corresponding period of last year. Pakistan exported cutlery goods worth $16.856 million during July-August (2019-20) against the exports of $13.907 million during July-August (2018-19), showing an increase of 21.21 percent, according to the ... Read More »

About 25 trucks loaded with wheat flour would go to Afghanistan via Torkham daily

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TORKHAM: Pakistan resumed partial export of wheat flour related items to Afghanistan via Torkham border after about two months. Custom staff also acknowledged resumption of wheat-related items export to Afghanistan and said that at least 15 to 25 trucks loaded with wheat flour and other related items would go to Afghanistan via Torkham on daily basis prior to the imposition ... Read More »

Potential investors of China show keen interest to invest in Pakistan

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BEIJING: China Gezhouba Group Corporation Chairman Lyu Zexiang on Tuesday called on Prime Minister Imran Khan in Beijing and expressed keen interest for investment in the energy sector of Pakistan. Mr Zexiang also expressed interest in exploring new business avenues in Pakistan. China Gezhouba Group Corporation (CGGC) is one of the most competitive listed companies with very strong financing capabilities. ... Read More »

FBR issues notices to 134,848 high net-worth individuals

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ISLAMABAD: The Federal Board of Revenue (FBR) has issued as many as 134,848 notices to high net-worth individuals across the country in order to persuade them to e-file income tax return for 2019. According to sources, these notices were issued to unregistered individuals by the respective dedicated zones of the Broadening of Tax Base (BTB) created at Regional Tax Office ... Read More »

US blacklists 28 Chinese entities over abuses in Xinjiang

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WASHINGTON: The US Commerce Department announced it is blacklisting 28 Chinese entities that it says are implicated in rights violations and abuses targeting Uighurs and other mostly Muslim minorities in the Xinjiang region. Secretary of Commerce Wilbur Ross announced the move, which bars the named entities from purchasing US products, saying the United States “cannot and will not tolerate the ... Read More »

Pakistan to establish ‘Real Estate Regulatory Authority’ for curbing black money

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ISLAMABAD: Pakistan has effectively complied with another strong condition put forward by the Asia Pacific Group (APG) – a regional affiliate of the Financial Action Task Force (FATF) – as the state has prepared to implement measures for curbing black money in the real estate sector, according to media on Tuesday. Sources familiar with the matter told the media that ... Read More »

President Alvi establishes CPEC Authority through presidential ordinance

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ISLAMABAD: President Arif Alvi promulgated an ordinance to provide for the establishment of the China Pakistan Economic Corridor (CPEC) Authority. The ordinance was promulgated by the president on October 5 in exercise of his powers under clause (1) of Article 89 of the Constitution, and issued here on Monday. The Ordinance extends to the whole of Pakistan. Section 1 of ... Read More »

Govt accumulates record debt of Rs7.5tr in first year

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ISLAMABAD: The Pakistan Tehreek-e-Insaaf (PTI) government, in its first year of power, has accumulated a record public debt of Rs7,509 billion, according to media. According to sources, the foreign debt incurred from August 2018 to August 2019 stood at Rs2,804 billion, while the internally accumulated figure stood at Rs4,705 billion. Sources added that Pakistan’s total public debt increased by 1.43 ... Read More »

Anti-Corruption East unearths fake housing scheme in name of Bilawal Bhutto

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KARACHI: A fake housing scheme running in the name of Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari was revealed today (Oct. 8) while Anti-Corruption East conducted a raid and arrested one of the accused. According to Deputy Director Anti-Corruption East Zamir Abbasi, they raided the office of Bhutto Welfare Housing Society after receiving several complaints regarding the fake scheme and ... Read More »

Sarhad Chamber of Commerce & Industry shows concern over harassment of traders

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PESHAWAR: President, Sarhad Chamber of Commerce and Industry, Engr Maqsood Anwar Pervaiz has expressed serious concern over harassment of business community, crackdown on business premises and imposition of heavy fines under guise of collection of local government taxes. He asked to introduce one-window operation system for tax-collection and to stop harassment of business community immediately. In a statement issued here ... Read More »

PTCL, LDA sign MoU for beautification of underpasses in Lahore

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LAHORE: Pakistan Telecommunication Company Limited (PTCL) and Lahore Development Authority (LDA) signed a Memorandum of Understanding (MoU) for the beautification and renovation of 19 underpasses in Lahore under the Prime Minister’s vision. The MoU was signed by Muhammad Usman Moazzam, Director General, LDA and Syed Mazhar Hussain, Chief Human Resource Officer, PTCL, at the office of the Chief Minister in ... Read More »

Agha Shahab dismayed over abrupt rise in law & order incidents

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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan, while expressing deep concerns over abrupt rise in law & order incidents particularly the target killings and rising street crimes, urged the Chief Minister Sindh Syed Murad Ali Shah and Heads of Law Enforcing Agencies (LEAs) to take strictest actions and adopt stringent measures to maintain peace ... Read More »

NAB seeks re-issuance of Liaquat Qaimkhani’s arrest warrants

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ISLAMABAD: A formal request for re-issuance of former director general of parks and horticulture in Karachi, Liaquat Ali Khan Qaimkhani’s arrest warrant has been sent to National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal for approval. According to details, the authorities have decided to interrogate Qaimkhani, who is already under-custody, regarding ownership of expensive cars and dozens of plots. ... Read More »

SHC orders strict action against sellers of gutka

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  KARACHI: The Sindh High Court (SHC) on Tuesday ordered cases to be registered against those selling gutka under Section 337-A (shajjah, intentionally causing hurt) of the Pakistan Penal Code. During the hearing of a petition against the use of mainpuri and gutka by a two-member SHC bench headed by Justice Salahuddin Panhwar, petitioner Advocate Muzammil Mumtaz had argued against ... Read More »

Balochistan kicks off development projects in Gwadar

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GWADAR: Balochistan government has decided to initiate various development and public welfare projects in Gwadar, besides expediting the water projects to resolve the longstanding issue of availability of potable water in the city. An official of the provincial government told media that the government has formulated a plan to initiate development and renovation work to improve old structure of Gwadar. ... Read More »

KSE-100 gains another 603 points as rally continues

A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

KARACHI: Stocks rallied on the first trading session of the week, as the indices continued to accumulate gains amid increased market participation. Foreign investors closed the previous week (September 30–October 4) as net sellers with an outflow of $4.70 million. The jump came despite the upcoming Financial Action Task Force (FATF) plenary meeting, which would give its decision on Pakistan’s ... Read More »

Pakistan made progress to address deficiencies identified in MER: APG

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ISLAMABAD: The Asia-Pacific Group of Money Laundering (APG), has adopted Pakistan’s Mutual Evaluation Report (MER) in its 22nd Annual Meeting held in Canberra, Australia from 18-23 August 2019, which has now been uploaded on APG’s website as per procedure. Pakistan’s senior level delegation headed by the Governor State Bank of Pakistan attended the APG Annual Meeting in Canberra. Pakistan’s Mutual ... Read More »

Peshawar Preventive to hold auction of NDP vehicles tomorrow

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PESHAWAR: Collectorate of Customs has announced auction of confiscated vehicles on October 08, 2019 at warehouses located at Peshawar/F.C/ airport/ Nowshera/ Mardan/ Dry Port and Abbottabad. The following vehicles will be presented for the auction: State Warehouse Peshawar Mercedes Benz (Bullet Proof) Model 1982, Chassis No. WDB-12603312037551 Mercedez Benz Truck Model 1995, Chassis No. WDB6770381K175873 Mitsubishi Pajero Jeep Model 2006, ... Read More »

Rupee gains 13 paisas against US dollar

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KARACHI: The Pak Rupee gained 13 paisas against dollar owing to inflows of export receipts and remittances, dealers said on Monday. The rupee ended Rs156.41 to the dollar from last Friday’s closing of Rs156.54 in interbank foreign exchange market. The currency dealers said that the market opened with pressure on the local currency. However, inflows in the shape of export ... Read More »

Tax reforms bearing fruit: FBR Chairman Shabbar Zaidi

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ISLAMABAD: The government’s reforms to mobilise tax revenue are bearing fruit, says Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi. Speaking to Pakistan Tehreek-i-Insaf (PTI) vice president Zahid Kazmi, he said the FBR succeeded in achieving 90 per cent of tax collection target for the first quarter of the ongoing fiscal year as Rs920 billion were collected in taxes ... Read More »