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Author Archives: CT Report

KCCI appreciates campaign announced by DIG Karachi

KARACHI: Ex-president of the Karachi Chamber of Commerce & Industry (KCCI) Siraj Kassam Teli and president KCCI, Younus Muhammad Bashir, has highly appreciated the campaign announced by Karachi city’s Traffic Police (CTP) Chief, DIG Amir Ahmed Shaikh against all drivers violating traffic laws specially those driving without a license. They said that Sindh government immediately announced to postpone this campaign ... Read More »

FBR’s decision to impose RD to promote smuggling, trigger inflation: Younus Bashir

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI) Younus Muhammad Bashir has expressed deep concern over Federal Board of Revenue (FBR)’s decision to impose Regulatory Duty (RD) on 61 more items and raising the RD on more than 300 items, which would not only result in triggering the inflation in local markets but would also promote smuggling ... Read More »

Companies laws being improved:  Ishaq Dar

LAHORE: Federal Finance Minister Ishaq Dar said that Securities and Exchange Commission of Pakistan (SECP) had prepared a draft for making amendment in Companies Law 1984 to improve and bring it at par with modern age needs. He stated this in a meeting with a four-member delegation of the ICAP (Institute of Chartered Accountants of Pakistan) led by its president ... Read More »

FBR directs to conduct audit of 5535 industrial units

SIALKOT: Federal Board of Revenue (FBR) has issued the orders of special audit of as many as 5535 industrial units in both Sialkot and Gujranwala regions. Out of these industrial units 165 units belonged to Corporate Class and 5370 belonged to the non-corporate class. According to the senior FBR officials, the tax returns submitted before FBR by the exporters, importers ... Read More »

Australia wants to engage, work closely with private sector of Pakistan: Envoy

KARACHI: High Commissioner of Australia Ms. Margaret Adamson has said Australia was keen to engage the private sectors of Pakistan and Australia as it was the private sector that drives the economy and creates jobs. “We want to work closely with the private sector of Pakistan and we want to make sure we are in touch with the private sector”, ... Read More »

RCCI inks letter of Cooperation with USAID-PREIA

ISLAMABAD: Rawalpindi Chamber of Commerce and Industry (RCCI) signed a letter of Co-operation with USAID, Pakistan Regional Economic Integration Activity (PREIA). President RCCI Mian Humayun Parvez called it a great step and said that this will provide access to Afghanistan and Central Asian Republics (CARs) through regional economic integration. He said that our Trade associations, logistics companies, business associations, Government ... Read More »

Customs seizes 420 drums of Iranian diesel worth Rs 10m

KARACHI: Custom Intelligence has seized a truck loaded with 420 drums carrying 18,000 liters Iranian diesel worth Rs 10 million, it has learnt here. According to details, on the directions of Director Intelligence Margoob Siddiqui, a team headed by Deputy Superintendent Hajji Aslam, Inspector Parwez Ahmed Zardari, Intelligence Officer Muhammad Aqmal Hashmi, and Khuram Saeed has conducted a raid on ... Read More »

Chairman SECP presents draft Companies Bill, 2015 to Finance Minister

ISLAMABAD: The Chairman SECP, Zafarul Haq Hijazi here presented the draft Companies Bill 2015 to Finance Minister, Senator Mohammad Ishaq Dar. The Bill envisages to replace the existing Companies Ordinance 1984. The Chairman SECP on this occasion briefed the Minister about the salient features of the draft law. The proposed Companies Bill first and foremost aims at maximum facilitation to ... Read More »

Pakistan, Azerbaijan exhibition forum to be held in April 2016

LAHORE: Ambassador of Azerbaijan Dashgin Shikarov has invited the Pakistani businessmen to participate in the exhibition and forum being planned for April 2016 in Azerbaijan and Pakistan. He was talking to Chamber of Commerce & Industry (LCCI) President Sheikh Muhammad Arshad. The LCCI Executive Committee Members were also present on the occasion. The Ambassador said that proposed exhibition and forum ... Read More »

ICCI asks govt for sufficient cut in Petroleum Prices

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to make sufficient cut in Petroleum products prices to pass on the full benefit of reduced oil prices in international market to the business community and the common man. Atif Ikram Sheikh, president, Islamabad Chamber of Commerce and Industry said that crude oil price in international ... Read More »

ICCI for focusing on high tech products to boost exports‏

ISLAMABAD:  Islamabad Chamber of Commerce and Industry (ICCI)  has called upon the government to focus on promoting high tech industry in order to improve trade and exports as the current focus on manufacturing of low value products remained unsuccessful to make Pakistan a worthwhile competitor in international export market. Exchanging views with a delegation of local industrialists, Atif Ikram Sheikh ... Read More »

LCCI urges FBR to stop attaching business accounts of traders

LAHORE: The Lahore Chamber of Commerce and Industry Friday urged the Federal Board of Revenue to stop attaching business accounts in the larger interest of the trade, industry and economy as it should be the last option and not the priority. In a statement issued here, the LCCI president Sheikh Muhammad Arshad urged the Federal Finance Minister Ishaq Dar to ... Read More »

Expenditures on social safety nets not to be compromised: Dar

ISLAMABAD: Minister for Finance, Muhammad Ishaq Dar said that strengthening and enhancing the outreach of social safety nets for poor of the poorest was top most priority of the government. Addressing a Memorandum of Understanding (MoU) ceremony among Pakistan Bait-ul-Mal, Universal Service Fund (USF) and Microsoft here, he said that government has enhanced its expenditures to support and assist the ... Read More »

Mamnoon Hussain stresses to increase GDP growth rate to 7%, fix tax for unorganized sector

FAISALABAD: President of Pakistan Mamnoon Hussain has proposed fixed tax for unorganized sector, allocating primary education exclusively for women, enhanced role of private sector to increase GDP growth rate to 7 percent and expeditious completion of energy projects to spur national economy. He was addressing achievements Award Ceremony of Faisalabad Chamber of Commerce and Industry (FCCI). The President in its ... Read More »

LESCO appoints focal persons for Lahore Chamber of Commerce and Industry

LAHORE: The Lahore Electric Supply Company (LESCO) appointed focal persons for the Lahore Chamber of Commerce and Industry to overcome the challenges of new connections, extension of load and over billing. The decision was made by the LESCO Chief Executive Officer Qaiser Zaman while speaking at the Lahore Chamber of Commerce and Industry. The LCCI president Sheikh Muhammad Arshad, senior ... Read More »

PBIT chief briefs Chinese Consul General about incentives, 10 year tax holiday for SEZs

LAHORE: Chairman Punjab Board of Investment and Trade (PBIT) Abdul Basit on Thursday brief first Consul General of China in Lahore Yu Boren, Boren about the incentives offered to the investors including the 10 year tax holiday to the Special Economic Zones (SEZ’s). Sectors like Agriculture, Real Estate, Energy, SEZs and Low Cost Housing were discussed in detail. Boren accompanied ... Read More »

Finance Minister Ishaq Dar meets development partners

ISLAMABAD: Federal Finance Minister Mohammad Ishaq Dar had a meeting with a delegation of Pakistan’s development partners from Japan, Australia, EU, Norway, USAID and ADB. The meeting followed GoP (EAD) and ADB’s signing ceremony relating to establishment of Pakistan National Disaster Management Fund, program loan for Energy Sector Reform, project loans of advance metering infrastructure project and new customer information ... Read More »

FBR to defend 0.2% WHT on bank transactions before NA committee

ISLAMABAD: The Federal Board of Revenue (FBR) will defend its decision of levying 0.2 percent withholding tax on bank transactions before the National Assembly (NA) Standing Committee on Finance and Revenue. In this regard, FBR has prepared comprehensive briefing for the committee along with set of briefs which have been received by the secretariat of concerned committee. Last Friday, National ... Read More »

GoP signs Letter of “Pakistan National Fund for Disaster Management “ with Asian Development Bank

ISLAMABAD: The Government of Pakistan (GoP) and Asian Development Bank (ADB) signed a Letter of Exchange for the establishment of “Pakistan National Fund for Disaster Management”, a program loan for “Sustainable Energy Sector Reform Program- Subprogram II” and two project loans of “Advance Metering Infrastructure Project and New Customer Information and Billing System for Entire Company in IESCO and LESCO” ... Read More »

Korean envoy shows concern on decreasing Pak-Korean trade

  KARACHI: Ambassador of Korea, Song Jong-Hwan, while expressing concern over decreasing trade volume between Pakistan and Korea since 2012, opined that absence of Free Trade Agreement (FTA) between the two countries and lack of proper understanding of each other’s markets were the two main possible reasons of this decline. Exchanging views during his visit to the Karachi Chamber of ... Read More »