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Author Archives: CT Report

FBR transfers 19 PCS officers of BS17-19 with immediate effect

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KARACHI: Federal Board of Revenue (FBR) on Friday announced transfers and postings of Pakistan Customs Service (PCS) officers in BS-17-19 with immediate effect until further orders. The FBR notified transfers and postings of following officers: Muhammad Nayyar Shafiq (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate (AIIA), Lahore from the post of Secretary, Federal ... Read More »

Multan-Sukkur Motorway (M-5) opened to light traffic

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MULTAN: The Multan-Sukkur Motorway has been opened to light traffic, Radio Pakistan reported on Friday. According to a statement issued by the Ministry of Communications, the newly-built 392-kilometre long Multan-Sukkur Motorway (M-5) will be opened to light traffic today (Friday). The six-lane Multan-Sukkur Motorway is an integral link of China Pakistan Economic Corridor, which will reduce the travelling time between ... Read More »

FBR to launch mobile app for tax return filing today: Shabbar Zaidi

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that the revenue collection body will launch a mobile app for salaried persons to file tax returns on Friday. Talking to media, Shabbar Zaidi said that the mobile app will help citizens and salaried people to file their tax returns. He said that FBR decided to introduce the mobile ... Read More »

PM to inaugurate Torkham border crossing tomorrow

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PESHAWAR: Prime Minister Imran Khan will officially inaugurate the round-the-clock opening of the border crossing at Torkham between Pakistan and Afghanistan. The spokesperson of Khyber Pakhtunkhwa government, Imran Khan inaugurate the Torkham crossing tomorrow (Saturday). He said the opening of the Pak-Afghan border will promote bilateral trade and economic activities between the countries. The border has been opened on trial ... Read More »

Govt to open Commercial Section in Pak embassy in Addis Ababa

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ISLAMABAD: Adviser to the Prime Minister on Commerce and Textile Abdul Razak Dawood announced that Ministry of Commerce is opening a Commercial Section in Pakistan’s Embassy in Addis Ababa, Ethiopia, this year to develop linkages between the businesses of the two countries. He elaborated the Look Africa Policy Initiative of the Ministry of Commerce, which calls for enhancing engagement and ... Read More »

KPT Shipping Intelligence Report

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KARACHI : The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier) OP-I Lahore D. Crude Oil PNSC 12/09/19 OP-II Pacific Sarah D. Mogas GAC 11/09/19 ALONG SIDE (East Wharves): 4 Ken Orchid D. Gen. Cargo Sea Hawks 12/09/19 10/11 Navios Sagittarius D. Meal Bulk-Sh. ... Read More »

Google will promote original reporting with algorithm change

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SAN FRANCISCO: Original reporting will be highlighted in Google´s search results, the company said as it announced changes to its algorithm. The world´s largest search engine has come under increasing criticism from media outlets, mainly because of its algorithms — a set of instructions followed by computers — that newspapers have often blamed for plumenting online traffic and the industry´s ... Read More »

Pakistan needs to mobilise tax revenue to fund development: IMF

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ISLAMABAD: The International Monetary Fund (IMF) on Friday said Pakistan needs to increase its tax revenue in order to fund development. In a press briefing, IMF Director Communications Gerry Rice said, “One of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilise domestic tax revenue to fund much needed ... Read More »

Pakistan trade deficit shrinks by 38pc during first two months of FY2019-20

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ISLAMABAD: The country’s trade deficit dashed by nearly 38 per cent in the first two months of current fiscal year, driven largely by a decline in imports of non-essential luxury items. The constant decline in trade deficit shows the government’s battle against bloated trade deficit is finally bearing fruit as imports have plummeted despite paltry growth in exports proceeds. According ... Read More »

Appraisement West transfers principal appraisers

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KARACHI: Collectorate of Customs Appraisement West transferred and posted following principal appraisers with immediate effect and until further orders. Principal Appraiser Ghulam Haider Perwani is transferred from Licensing Branch to Afghan Transit Legacy Cases in addition to his own duties. Principal Appraiser Muhammad Anjum Barakzai is transferred from Group-I Bonds Section to Group-I. The officiating charge of Zakaullah as Principal ... Read More »

Pakistan trade deficit shrinks by 38pc during first two months of FY2019-20

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ISLAMABAD: The country’s trade deficit dashed by nearly 38 per cent in the first two months of current fiscal year, driven largely by a decline in imports of non-essential luxury items. The constant decline in trade deficit shows the government’s battle against bloated trade deficit is finally bearing fruit as imports have plummeted despite paltry growth in exports proceeds. According ... Read More »

Appraisement West undertakes transfers & postings of appraising officers

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KARACHI: Collectorate of Customs Appraisement West has undertaken postings and transfers of following appraising officers within the Collectorate with immediate effect and until further orders: Read More »

RCCI to extend full support for promotion of healthy activities

RCCI Preisdent Malki Shahid Saleem in a group photo with students of universities at the inaugural session of firts RCCI Youth Club meeting at Chamber House here on Thursday

  RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) has taken a step forward to strengthen industry-academia linkage and promote healthy activities in the region. RCCI youth club will play a key role in engaging city’s youth towards development and facelift of the Rawalpindi city. Addressing the launching ceremony of RCCI Youth Club, President Malik Shahid Saleem said that ... Read More »

Govt abolishes special tax regime for multiple sectors

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ISLAMABAD: The federal government through Finance Act 2019 has abolished special sales tax treatment, special procedures, fixed sales tax regime and extra tax payment system applicable on different sectors/industries. According to media, special tax treatment to Special Economic Zones (SEZs), including tax holiday for 10 years to all units which will commence commercial production by June 30, 2020 in SEZs ... Read More »

Citibank president calls on APM Hafeez Shaikh

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ISLAMABAD: A delegation comprising senior management of Citibank led by its President and Country Corporate Officer Nadeem Lodhi called on Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, here today. During the meeting opportunities and incentives available for investment in the country’s capital market were discussed. The visiting bankers expressed their trust and confidence in economic ... Read More »

Paragon Housing scam: Court extends Khawaja brothers’ judicial remand till Sept 17

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LAHORE: An accountability court in Lahore on Friday extended the judicial remand of Member of the National Assembly (MNA) Khawaja Saad Rafique and his brother Salman Rafique till September 17 in the Paragon Housing Society scam. On September 13, Judge Jawad ul Hassan heard the case as the Khawaja brothers were produced before the court after their judicial remand ended. ... Read More »

Citibank president calls on APM Hafeez Shaikh

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ISLAMABAD: A delegation comprising senior management of Citibank led by its President and Country Corporate Officer Nadeem Lodhi called on Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, here today. During the meeting opportunities and incentives available for investment in the country’s capital market were discussed. The visiting bankers expressed their trust and confidence in economic ... Read More »

Financial close of TAPI gas pipeline project likely in early 2020

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ISLAMABAD: The TAPI Pipeline Company Limited (TPCL) is determined to achieve financial close of the multi-billion dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project in start of the year 2020. “Pakistan is committed to start practical work on its section of the pipeline at earliest and complete it within the stipulated time frame,” a senior official privy to the petroleum sector developments ... Read More »

PIA to induct seven new planes to its fleet under new business plan

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KARACHI: The federal government has decided to add seven new aircraft to the fleet of Pakistan International Airlines (PIA) under the new business plan in line with the vision of Prime Minister Imran Khan, according to media. Seven new planes will be inducted in the fleet of the national flag-carrier in the latest move for reviving the state-owned entity. Sources ... Read More »

Russian ExpoBank expresses interest in making heavy investment

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ISLAMABAD: Russian ExpoBank Director Igor Vladimirovich Kim on Thursday called on Prime Minister Imran Khan and expressed his interest in making heavy investment in Pakistan. According to the details, matters of mutual interest, economic reforms, trade policies, special economic zones and other issues were discussed in the meeting. On the occasion, PM Imran welcomed ExpoBank’s decision of making heavy investment ... Read More »