Wednesday , June 23 2021
Breaking News
Home / Author Archives: CT Report (page 10)

Author Archives: CT Report

Tarin expresses resolve to take GDP growth rate to 6-7pc in 2 years

ISLAMABAD: Finance Minister Shaukat Tarin has expressed the resolve to take the gross domestic product (GDP) growth rate to 6-7 percent in a couple of years to make the country a regionally competitive economy. The finance minister said this while chairing the second meeting of the Economic Advisor Council (EAC) on Tuesday. He welcomed the participants and highlighted the objective ... Read More »

Multan Customs seizes NDP vehicles & goods worth Rs.343.43m during May

MULTAN: Collectorate of Customs Enforcement & Compliance (E&C) has seized non-customs paid vehicles and miscellaneous goods worth Rs343.43 million during anti-smuggling actions in May 2020-21. Sources told Customs Today that Multan Customs Collectorate has carried out various crackdowns against smuggled goods to curb smuggling in the jurisdiction on directions of Collector Muneeza Majeed. Multan Collectorate anti-smuggling staff has thwarted several ... Read More »

Covid-19 vaccination campaign in full swing at Customs House

KARACHI: Collectorate of Customs Preventive extended the ambit of vaccination to Customs agents as majority of staff at Customs House Karachi and their family members have been vaccinated. According to the details, Custom agents are essential services persons and come in close contact with general public during their routine operations. Therefore, Customs agents are also being vaccinated at Custom House ... Read More »

Collector Irfan Javed’s Quetta Customs seizes smuggled goods worth Rs200m

QUETTA: Collectorate of Customs Enforcement and Compliance (E&C) has seized huge quantity of smuggled goods including narcotics and vehicles worth Rs200 million. Sources said that on the instructions of Chef Collector Gul Rehman and Collector Irfan Javed have enhanced vigilance on the transportation routes to thwart any attempt of moving smuggled goods. Additional Collector Yaseer Wahab Kalwar, Deputy Collectors Akbar ... Read More »

Pakistan’s exports to Afghanistan increase 2.35pc in 10 months

ISLAMABAD: Pakistan’s exports of goods and services to Afghanistan witnessed an increase of 2.35 percent during the first ten months of financial year (2020-21) as compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported. The overall exports to Afghanistan were recorded at $828.727 million during July-April (2020-21) against exports of $809.685 million during July-April (2019-20), ... Read More »

Petroleum prices to remain unchanged for next 15 days

ISLAMABAD:  In order to provide relief to people, the government again decided not to increase the price of petroleum products. Special Assistant to Prime Minister on Political Communication Shahbaz Gill took to the twitter and said that Prime Minister Imran Khan has rejected the recommendation of the Oil and Gas Regulatory Authority (OGRA) for increase in the petroleum products. On ... Read More »

Price for domestic LPG cylinders goes up by Rs5

ISLAMABAD: The price of a Liquified petroleum gas (LPG) cylinder for domestic use has been increased by Rs5, a notification from the Oil and Gas Regulatory Authority (OGRA) said Monday. The new rate will be applicable from June 1, OGRA said, adding the price has been moved up from Rs89 to Rs94. The price of an 11.8kg domestic LPG cylinder ... Read More »

Govt aims to generate Rs5.9t to fund budget deficit: SBP

  KARACHI: The government plans to raise Rs5.9 trillion from auctions of market treasury bills (MTBs) and Pakistan investment bonds (PIBs) in June to August 2021 to fund a budget deficit, according to the auction target calendar issued by the central bank. The amount is higher than the Rs5 trillion the government wanted to fetch in May-July period. Between June ... Read More »

FBR to collect Rs790b more to hit target

ISLAMABAD: The Federal Board of Revenue (FBR) has so far collected Rs4.17 trillion in taxes, leaving it with a gigantic task of pooling an unprecedented Rs790 billion in the last month of current fiscal year to achieve the annual target. During the July-May period of the outgoing fiscal year, the FBR’s tax collection increased at a pace of 17.4% on ... Read More »

SRB announces tax scheme for waiver of penalty, default surcharge

KARACHI: The Sindh Revenue Board (SRB) announced a scheme to exempt whole of the amount of penalty and default surcharge on payment of principal amount by given date. Sindh Revenue Board (SRB) in this regard issued notification to exempt the whole of the amount of penalty and such of the amount of default surcharge as is in excess of the ... Read More »

Shoukat Tarin appreciates steps to control inflation

ISLAMABBAD: Federal Minister for Finance and Revenue Shaukat Tarin, chaired the meeting of the National Price Monitoring Committee (NPMC) at the Finance Division today. SAPM on Finance and Revenue Dr. Waqar Masood, Secretary Finance Division, Secretary M/o NFS&R, Chief Secretaries of the Provincial Governments, Member PBS, Chairperson CCP, MD Utility Stores Corporation and other senior officers of various Ministries participated ... Read More »

Tarin assures support in resolving technical issues of NPPMCL privatization

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin Tuesday assured the Privatization Commission of Pakistan and other stakeholders of his full support in resolving technical issues related to the privatization of NPPMCL to complete the transaction at the earliest. The minister was chairing a meeting here at the Finance Division to review the progress on the privatization of National ... Read More »

ECC approves grant of Rs20b for procurement of Covid-19 vaccine

ISLAMABAD: The Federal Minister for Finance and Revenue, Shaukat Tarin, chaired a special meeting of the Economic Coordination Committee (ECC) of the Cabinet today. Federal Minister for Planning, Development and Special Initiatives Asad Umar, Federal Minister for Privatization Muhammad Mian Soomro, Federal Minister for Railways Azam Swati, Adviser to the PM on Commerce Abdul Razak Dawood, Adviser to the PM ... Read More »

Cars sale, production increases 48.45pc & 36.36pc respectively in 10 months

ISLAMABAD: The sale and production of cars witnessed an increase of 48.45 and 36.36 percent respectively during the first ten months of financial year 2020-21 as compared to corresponding period of last year. During the period under review, as many as 126,679 cars were sold against the sale of 85,330 units while the production of cars increased from 88,628 units ... Read More »

Pak Rupee gains 3 paisa against USD

KARACHI: The exchange rate of US Dollar decreased by 3 paisa in the interbank on Monday against Pakistani rupee. The greenback closed at Rs154.40 on first business day of the week compared to previous closing of 154.43. Since start of May, dollar has risen by 1.04 paisa. However, the greenback has lost 14.03 rupees or 8.69 percent of its value ... Read More »

Chairman FBR assures to resolve issues of FPCCI in Budget 2021-22

ISLAMABAD: The Chairman Federal Board of Revenue (FBR) assured the redressal of issues raised by the representatives of Federation Pakistan Chamber of Commerce and Industry (FPCCI) in upcoming Budget 2021-22. The Chairman FBR also assured the consideration of proposals from FPCCI in the forthcoming budget, said a press release issued by FBR here. A delegation of FPCCI led by its ... Read More »

MTBA forwards Budget 2021-22 proposals to FBR

MULTAN: Multan Tax Bar Association (MTBA) presented proposals for budget 2021/2022 to the Federal Board of Revenue (FBR). In its proposals the MTBA said that the tax-to-GDP ratio was a soaring issue for country’s economic managers. “On the other hand, tax measures undertaken in Pakistan have traditionally created higher taxation on formal economy and under taxation on information economy,” it ... Read More »

Pakistan’s economy has potential to grow at an annual rate of 4pc: Moody’s

ISLAMABAD: International credit rating agency Moody’s has said in its report that Pakistan s economy has the potential to grow at an annual rate of 4%. The Moody s report said that Pakistan s economy has the potential to grow at more than 4% per annum and the increase in LSM growth rate will further boost the country s overall ... Read More »

PM Imran directs FIA to go for decisive action against sugar millers

ISLAMABAD: Prime Minister Imran Khan has given go-ahead to investigators for decisive action against owners of 38 sugar mills, a fresh move where the Federal Investigation Agency (FIA) may arrest a few millers who have already faced money laundering, sugar satta and insider trading charges. Premier Khan advised his Special Assistant on Accountability Mirza Shahzad Akbar to direct the FIA ... Read More »

Tax evasion: Customs PMBQ lodges FIR against M/s Prime Steel Industry

KARACHI: Collectorate of Customs Port Mohammad Bin Qasim (PMBQ) has registered FIR against M/s Prime Steel as 22 of their post-dated cheques were dishonored. Sources said that M/s Prime Steel Industry, Jamrud got cleared 22 consignments from MCC Port Qasim declared to contain huge quantities of iron and steel re-meltable scrap and Ferro Silicon Manganese among other goods. M/s Prime ... Read More »