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Govt appoints Younus Dagha as finance secretary

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ISLAMABAD: The federal government has appointed Mohammad Younus Dagha as finance secretary who was previously performing duty as commerce secretary. Mohammad Younus Dagha possesses a strong portfolio of civil services since 1985 in varied fields including energy, finance, commerce, international trade and public administration. Dagha had also served as Secretary Water and Power in 2014. He holds post graduate degrees ... Read More »

FM Qureshi, Chinese VP Qishan discuss implementation of CPEC


BEIJING: Foreign Minister Shah Mahmood Qureshi called on Chinese Vice President Wang Qishan on Tuesday and briefed him on the progress in development of China-Pakistan Economic Corridor (CPEC). The Foreign Minister also conveyed greetings of Prime Minister Imran Khan during the meeting. Shah Mahmood Qureshi said Prime Minister of Pakistan was looking forward to visit them during the next month ... Read More »

Pakistan to offer gas fields to foreign explorers, investors: Nadeem Babar


ISLAMABAD: Pakistan plans to offers dozens of gas field concessions in the coming year to fill in a fuel shortage, a senior official said, with Islamabad hoping a sharp drop in militant violence and changes to exploration policy will attract foreign investors. Nadeem Babar, head of Prime Minister Imran Khan’s Task Force on Energy Reforms, told Reuters the government was ... Read More »

NAB authorises inquiry against Maersk, QICT, SRB in multi-billion scam case


KARACHI: The National Accountability Bureau (NAB) has authorised inquiry against officials of Sindh Revenue Board, QICT and M/s Maersk Pakistan (Pvt) Ltd in country’s biggest shipping scandal involving 400 billion rupees. The NAB received the complaint with subject: Building dams by recovering losses of more than Rs 400 billion from officials of port terminals like Qasim International Container Terminal (QICT) ... Read More »



LAHORE: Is the government responsible for the crisis in the media industry. Why the newspapers and TV channels are not receiving advertisement? Why was Midas Advertising Agency Chairman Inam Akbar arrested? Facts are revealed by senior analysts, journalist organisations and people affiliated with the advertisement industry. Senior journalist and owner of the Pakistan Today newspaper Arif Nizami says the National ... Read More »

PM Imran lauds SBP for low-cost housing incentives


ISLAMABAD: Prime Minister Imran Khan on Monday said it was important for the government to make cash available for the common man in Pakistan to be able to own low-cost houses. Addressing a ceremony in connection with the launch of State Bank of Pakistan’s finance policy for low-cost housing in Islamabad, the premier said ever since his government took office, ... Read More »

30 projects being proposed for Qatari investment: Razak Dawood


ISLAMABAD: Adviser to the Prime Minister on Commerce, Industry and Investment Abdul Razak Dawood said on Sunday that around 30 projects were being proposed to the Qatar government and investors, besides discussions to further explore the potential of trade and investment between private sectors of both the countries. Addressing a joint Pakistan-Qatar Trade and Investment Conference organised by the Board ... Read More »

Razak Dawood to attend Pak-Qatar Investment Forum in Doha tomorrow


ISLAMABAD: A high-level business delegation, led by Adviser to the Prime Minister on Commerce and Investment Razak Dawood and Chairman Board of Investment (BoI) Haroon Sharif, will attend the Pakistan-Qatar Investment Forum on Sunday in Doha. An official statement said the event is being organised by BoI in collaboration with Qatar Finance Centre and Pakistan Embassy in Doha and aims ... Read More »

China commits $1b for 20 social sector projects

pak China

ISLAMABAD: A 13-member expert group from China has shortlisted around 20 projects for implementation within a year in all the four provinces and special areas — Azad Jammu & Kashmir and Gilgit-Baltistan — to be funded with Chinese grant under socioeconomic cooperation. The Chinese government has agreed to provide up to $1 billion grant for socioeconomic development and poverty reduction ... Read More »

Chief Collector Zulfiqar appreciates Customs Gwadar, Quetta for surpassing revenue collection target

FSD collector Zulafqar

QUETTA: Chief Collector Dr. Zulfiqar Ali Chaudhry said that Customs Collectorates of Quetta and Gwadar have surpassed assigned revenue collection target for July 2018 to February 2019 with extra amount of Rs2288 million. Talking with Customs Today during an exclusive interview, the chief collector said that both of the Collectorates working under his supervision showed an increase of 10 percent ... Read More »

Without streamlining FBR, cannot increase tax net: PM

Imran Khan3

ISLAMABAD: Prime Minister Imran Khan said on Thursday that without streamlining Federal Board of Revenue, the tax net cannot be increased. PM Imran was addressing a ceremony in the capital, where he said that for the progress of ‘Naya Pakistan’, introducing ‘tax culture’ is very important. “If the FBR does not improve its functioning then a new FBR will be ... Read More »

Pakistan can access to European, Central Asian markets via Iranian railway network: Sheikh Rasheed   

Sheikh Rasheed

ISLAMABAD: Minister for Railways Sheikh Rasheed Ahmed Wednesday, while stressing the need for improving bilateral cooperation in railway sector, said Pakistan could access to European and Central Asian markets via Iranian railway network. In an interview with state-run news agency IRNA, he said Iran and Pakistan should cooperate in creating railway linkages between Taftan and Quetta and Chahbahar and Gwadar. ... Read More »

Govt orders investigation into domestic gas tariff hike


ISLAMABAD: The government on Wednesday ordered another probe to ascertain who had allowed unauthorised pressure factor in natural gas tariff that led to excessive billing to domestic consumers of gas companies, particularly the Sui Northern Gas Pipelines Limited (SNGPL). According to a notification issued by the petroleum division of the Ministry of Energy on the instructions of the prime minister, ... Read More »

Navy thwarts Indian submarine attempt, Port Qasim prone to incursion


KARACHI: The Pakistan Navy (PN) thwarted an attempt by an Indian submarine to enter Pakistani territorial waters. But it is likely they could attack Karachi city and especially Port Qasim after two Indian Air Force MiG 21 aircraft were shot down by Pakistan Air Force, sources said. A section of media reported this morning that the Pakistan Navy thwarted an ... Read More »

Govt decides to finance cost of provision of gas & electricity to all SEZs


ISLAMABAD: The government has decided to finance the cost of provision of gas and electricity to all the Special Economic Zones (SEZs) out of the Public Sector Development Pro­gramme (PSDP) and withdraw provincial mark-up support and federal freight subsidy to SEZs under the China-Pakistan Economic Corridor (CPEC). According to the details, the Economic Coordina­tion Committee (ECC) of the Cabinet “directed ... Read More »

FATF pressure mounts as monitoring unit reports 8,707 suspicious transactions in 2018


ISLAMABAD: A recent warning to Pakistan by the Paris-based Financial Action Task Force (FATF) to deliver on its commitments to curb terror financing and money laundering risks to the global financial system has virtually put the country’s entire machinery into an aggressive mode to show tangible progress within two months. The achievement of 27 targets under a 10-point action plan ... Read More »

CAA suggests to soften aviation policy


KARACHI: The Civil Aviation Authority (CAA) has proposed the softening of the aviation policy in order to welcome new players aspiring to jump into Pakistan’s airspace by doubling the time required for starting operations by a new airline. In late November 2018, the CAA established a committee to help prepare a draft to change the open sky policy into a ... Read More »

Govt should take action against Maersk, QICT for charging illegal demurrage & detention charges: Nasir Hameed

Nasir Hameed

LAHORE: PIAF Vice Chairman Nasir Hameed Khan said shipping lines and terminal operator including M/s Maersk Pakistan (Pvt) Ltd and M/s QICT  are taking illegal demurrage and detention charges from genuine importers, violating the set Customs rules and laws While talking to Customs Today, he said that the Govt, Shipping Ministry and Customs Department are not properly regulating these shipping ... Read More »

Ministry of Energy issues Rs200b ‘Pakistan Energy Sukuk’ to resolve circular debt


ISLAMABAD: Ministry of Energy on Friday issued a Rs200 billion ‘Pakistan Energy Sukuk’ in an attempt to resolve Pakistan’s circular debt which, according to a statement issued by Meezan Bank Limited (MBL), is “the first of its kind”. As per the statement, the sukuk was issued through Power Holding Private Limited, a company entirely owned by the government, and is ... Read More »

Pakistan Customs surpasses target by collecting Rs444b in eight months


ISLAMABAD: Pakistan Customs has surpassed its target by collecting Rs 444 billion in first eight months of the current financial year i.e., July-February 2018-19. Target for collection of customs duty for first eight months was Rs436 billion, 21% higher than the target for the same period of the previous financial year. In addition, an amount of Rs518 billion sales tax ... Read More »