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Govt working to facilitate small, medium industry: PM Imran

Imran Khan 32JPG

ISLAMABAD: Prime Minister Imran Khan on Monday reiterated his government’s resolve to facilitate small and medium industry and exporters of the country. Addressing the 42nd award ceremony of Federation of Pakistan Chambers of Commerce and Industry in Islamabad, the premier said both are the backbone of commerce and trade in any country. He said obstacles in the way of doing ... Read More »

KP CM records statement before NAB in Malam Jabba land lease

Chief Minister Mahmood Khan

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mehmood Khan on Monday has recorded his statement before National Accountability Bureau (NAB) in Peshawar, in the Malam Jabba land lease corruption scandal. After the hearing, CM Mehmood Khan talked to media and said that it was his last hearing and that he has no connection with the case. He said he has nothing to ... Read More »

Court hears KPT corruption reference against Babar Ghauri, others

Kpt 1

KARACHI: An accountability court on Monday heard Karachi Port Trust (KPT) corruption reference against accused MQM leaders Babar Ghauri, Javed Hanif and others. Former federal minister Babar Ghauri and eight other accused have been nominated in the National Accountability Bureau (NAB) corruption reference. Member Sindh Assembly Javed Hanif, Rauf Akhtar Farooqui and other accused were present in the court during ... Read More »

Govt will take stern action against shipping company for polluting shore of Mubarak village: Ali Zaidi

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KARACHI: Federal Minister for Maritime Affairs Syed Ali Zaidi has said the man who polluted the beautiful shore of Mubarak village has been identified. The minister said that he had fulfilled his promise of finding out the person involved in polluting the shore and punishing him according to the law. He said strict disciplinary action would be taken against the ... Read More »

Purchase of expensive locomotives: NAB starts probe against Saad Rafique

Railways Minister Khawaja Saad Rafique

LAHORE: The National Accountability Bureau (NAB) has started a new investigation against former railway minister Khawaja Saad Rafique for purchasing engines of train at the exorbitant price. Sources said that the train engines which were bought by India at the cost of Rs250 million, Saad Rafique purchased the same at the price of Rs400 million. Further, the anti-graft watchdog has ... Read More »

NAB launches probe into illegal appointments in ZTBL


LAHORE: The National Accountability Bureau has launched investigation into hundreds of illegal appointments made in the Zarai Taraqiati Bank Limited in recent years. A large number of senior officers including Executive Presidents and Senior Vice Presidents are among the illegal appointees hired on hefty salary packages during the tenure of previous PML-N government. Presently, they are serving on key administrative ... Read More »

ANF nabs drugs peddler


ISLAMABAD: The Anti-Narcotics Force (ANF) on Monday busted drugs supplier from city’s Sitara Market. As per details, drugs’ peddler, Muhammad Ilyas, who was supplying contraband items in the educational institutes of the federal capital, was arrested by ANF’s intelligence team, in an action at Sitara Market. “Muhammad Ilyas was supplier of contraband items in Islamabad’s educational institutes, adding that the ... Read More »

Banking Ombudsman decides investment profit claim of Rs 16,982,397 in favour of University of Sargodha

University of Sargodha

LAHORE: The Banking Ombudsman has decided an investment profit claim of Rs 16,982,397 in favour of the University of Sargodha. The University of Sargodha filed a complaint of less profit paid on its three investments against HBL University of Sargodha Branch. The University invested Rs. 400 million with the Habib Bank Ltd, University of Sargodha Branch on 11.3.2015 on the ... Read More »

ECC approves price of imported urea at Rs1712 per 50kg

ECC Asad Umar

ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) has fixed the price of imported urea at Rs. 1712/- per 50 kg. In its meeting chaired by Finance Minister, Asad Umar on Monday, the ECC reviewed the fertilizer situation in the country. The ECC in consideration of proposal from the Ministry of Industries and Production approved the price of imported ... Read More »

Hopeful rupee will stabilise as money flows in: Tariq Bajwa

tariq Bajwa

LAHORE: State Bank of Pakistan Governor Tariq Bajwa expressed hope that the slide in the rupee will be stemmed once money flows into the economy. Speaking to reporters in Lahore, Bajwa said the dollar rate is dependent on two factors: macroeconomic fundamentals and market sentiments. “As money [flows into] the economy [through cash injected], Insha’Allah you will see, the market ... Read More »

ASF foils money laundering bid at Lahore airport


LAHORE: Airport Security Force (ASF) on Saturday foiled money laundering bids by arresting two passengers, including a woman, with foreign currency worth millions of rupees at the Lahore airport. According to ASF officials, $39,100 (approx. Rs5.4 million) were recovered while searching the baggage of a passenger leaving for Bangkok through an international airline flight. Another woman, Li Zen, also leaving ... Read More »

Fitch downgrades Pakistan’s long-term debt rating

Taiwanese banks reduces exposure to China: FITCH

ISLAMABAD: Fitch Ratings, one of the three major global rating agencies, on Friday downgraded Pakistan’s long-term debt rating to ‘B-Negative’ owing to high debt repayment obligations, low foreign exchange reserves and fragile fiscal situation. The outlook, however, remains stable. The New York-based agency said the downgrading of the rating from ‘B’ to ‘B-’ reflected heightened external financing risk from low ... Read More »

NAB grills PTI senator in Malam Jabba land lease case


PESHAWAR: The National Accountability Bureau (NAB), Khyber Pakhtunkhwa on Friday questioned Pakistan Tehreek-e-Insaf (PTI) Senator Mohsin Aziz for his alleged role in the lease of 275 acres of land in Malam Jabba in Swat. Salma Begum, spokesperson for NAB KP, said that Mohsin Aziz appeared before the Combined Investigation Team at the NAB’s office in Peshawar. She said the investigation ... Read More »

Govt devises strategy for slashing budget deficit to 4%

Asad Umar

ISLAMABAD: In order to secure IMF bailout package, the government has devised a growth framework strategy for undertaking fiscal adjustments of Rs1,000 billion or 2.6 percent of GDP for slashing the budget deficit to 4 percent of GDP by 2020. The Ministry of Finance has prepared highly ambitious plan titled ‘Pakistan’s Economic Stabilisation and Growth Framework’ under which the budget ... Read More »

Underpass design: NAB launches investigation against Sanaullah


LAHORE: The National Accountability Bureau (NAB) has launched an investigation against Pakistan Muslim League-Nawaz leader Rana Sanaullah for his role in the change of the design of an underpass in his hometown of Faisalabad allegedly to benefit some people. A NAB official said that the bureau had initiated the probe after receiving a complaint that the former Punjab law minister ... Read More »

New mobile tax policy irks overseas Pakistanis


ISLAMABAD: Overseas Pakistanis, telecommunication operators and industry experts have expressed concern over the government’s new policy to allow only one duty free mobile phone for overseas travellers and register even one phone at airports and Custom Houses. According to sources, even Pakistan Telecommunication Authority (PTA) has taken up the issue of imposing exorbitant duties on imported mobile phones with the ... Read More »

FIA to launch crackdown against money laundering suspects


ISLAMABAD: The Federal Investigation Agency (FIA) has decided to launch a massive crackdown against those Pakistanis who have purchased properties in Dubai with the money laundered to the Gulf state and money changers involved in illegal transfer of funds. According to a document, the decision was taken in a directors’ conference held in the FIA headquarters on Dec 11. The ... Read More »

Balochistan NAB DG urges society to join fight against corruption


QUETTA: Balochistan National Accountability Bureau (NAB) Director General Muhammad Abid Javed has said that all institutions have to work together to fight corruption. He was addressing a seminar organised by NAB and Metropolitan Corporation in connection with the World Anti-Corruption Day. People belonging to different walks of life including members of the chamber of commerce, Pakistan Engineering Council (PEC) representatives, ... Read More »

KP tobacco farmers threaten protest against ‘sin tax’


PESHAWAR: Tobacco growers in Khyber Pakhtunkhwa have threatened that they would launch a province-wide protest campaign, if the federal government will implement the proposed ‘Sin-Tax’ on tobacco. Speaking a news conference at Peshawar Press Club, Rustam Khan, a representative of the tobacco farmers took strong exception a strong exception over the proposal, floated by federal health ministry to impose new ... Read More »

Punjab govt imposes garbage tax on shops in Lahore


LAHORE: The Punjab government has imposed Rs 100 per shop each month as solid waste tax in the city. Provincial Minister for Local Bodies Abdul Aleem Khan has announced this tax, saying the former government had assigned the task of conducting a study in this respect to the Lahore Waste Management Company (LWMC). The LWMC was conducting the study over ... Read More »