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Author Archives: CT Report

Dar inaugurates SECP’s web portal

ISLAMABAD: Finance Minister Mohammad Ishaq Dar Monday inaugurated the investor education web portal of the Securities and Exchange Commission of Pakistan’s (SECP) here. The web portal `Jama Punji’ was envisioned to play a key role in the SECP’s overall investor education programme and awareness about different investment opportunities available in the country. The minister welcomed SECP’s initiative and hoped that ... Read More »

Economy gets into take-off position, no fear of down-slide: Ahsan

ISLAMABAD: Minister for Planning, Development and Reforms Ahsan Iqbal on Monday said the national economy was in a take-off position due to prudent policies and reforms agenda of the government, and now there was no fear of down-slide. He stated this while addressing a press conference here at “P” Block Auditorium this afternoon. Secretary Planning and Development Hassan Nawaz Tarar, ... Read More »

FPCCI, SCCI lauds role of women entrepreneurs in national economy

SIALKOT: The role of women entrepreneurs in strengthening national economy is encouraging and increasing the participation of businesswomen in business avenues. The doors should be kept opened for females and ensuring the provision of maximum business opportunities to the women entrepreneurs. Vice Chairman, FPCCI’s Young Entrepreneurs Development Committee, Zulfiqar Ali Bader stated this while addressing the participants of a seminar ... Read More »

Khursheedd Shah proposes live telecast of general debate on budget 

ISLAMABAD: Opposition Leader in National Assembly Syed Khursheed Shah on Monday proposed that general debate on the budget should be broadcast live. Before opening debate on the Budget 2015-16, he asked the government to make arrangements to telecast speeches of opposition live. MNAs Shah Mahmood Qureshi, Rashid Godail and Mahmood Khan Achakzai were of the view that it was a ... Read More »

PR to operate Quetta-Zahedan freight train from Tuesday: Saad

LAHORE: Pakistan Railways will operate a new freight train from Quetta to Zahedan (Iran) via Taftan from Tuesday with the cooperation of the Iranian Railways. This was told by PR Minister Khawaja Saad Rafique in a press conference held at PR headquarters here on Monday. He said the train composition would consist of 24 freight vans which would further be ... Read More »

Pakistani businessmen in UAE hail federal budget 2015-16

ISLAMABAD: The Pakistani business community living in the United Arab Emirates (UAE) has lauded the growth-oriented federal budget for fiscal year 2015-16. Finance Minister Ishaq Dar presented the Rs 4.313 trillion budget for 2015-16 in the National Assembly on Friday, eyeing an ambitious growth target of 5.5 percent. The PML-N government plans to achieve growth rate of seven percent by ... Read More »

Pak traders can export more than 3,500 items to US duty free

PESHAWAR: Mr. James Fluker, Commercial Counselor of the US Embassy in the federal capital, held a meeting at the KP Chamber of Commerce and Industry to help local businesses understand how to be competitive in US markets. Mr. Fluker’s visit to Peshawar was a part of a US initiative to help Pakistani executives take advantage of these opportunities to grow ... Read More »

Pervaiz Elahi criticises Budget 2015-16

LAHORE: Former Chief Minister of Punjab Chudhry Pervaiz Elahi rejected the federal budget present by the Pakistan Muslim League-Nawaz government. He said that increment in the salaries of government employees was not up to the mark and termed 7 percent increase as joke with government servants. He added that tax imposition on dairy products would create hurdles for the agriculture ... Read More »

Govt asked to withdraw 25 additional duty on poultry feed

Lahore: Dr. Muhammad Mustafa Kamal, Chairman Pakistan Poultry Association warned of at least 25 percent jump in poultry products’ prices because the government has imposed overall 25 percent duties and taxes on all kinds of poultry feeds in the Budget-2015-16. The new budget of next fiscal year has demoralized and depressed the poultry farmers because Government has slapped 5 percent ... Read More »

Govt has not imposed tax on milk: Dar

ISLAMABAD: Finance Minister Muhammad Ishaq Dar Saturday said that the government had not imposed any tax on milk as reported in a section of press. The minister, in the post-budget press conference, said there was no increase in the price of milk as only packed yogurt and cheese had been taxed. The minimum price of a packed yogurt unit was ... Read More »

Budget 2015-16: Govt allocates Rs 100b for TDPs’ return, rehabilitation

KARACHI: The government has allocated an amount of Rs 100 billion in the federal budget for the fiscal 2015-16 for the return and rehabilitation of the Temporarily Displaced Persons (TDPs). This includes money for the reconstruction of facilities such as schools, hospitals, roads, electricity, water which were affected in the area. “This is a very effective programme that would result ... Read More »

Exemption of sales tax on bricks, crush hailed

LAHORE: The exemption of sales tax on bricks and crush till June 30, 2018 by the government is a positive and far-reaching step to boost national economy. Talking to APP here on Saturday, Chief Executive Canal Forts Haji Nasir said that this would reduce construction cost and encourage the investors to invest in this sector. He said that the exemption ... Read More »

Rs 300 tax raise only on expensive mobile phones: Dar

ISLAMABAD: Denying the media reports, Finance Minister Muhammad Ishaq Dar Saturday said that Rs 300 raise in tax was only on expensive mobile phones, which were usually used by the rich. He said the tax on expensive mobile phones was Rs 700, which had been proposed Rs 1,000 in the budget 2015-16. It was not correct that tax on mobile ... Read More »

30,000 solar pumps to be distributed among farmers through balloting

ISLAMABAD: Finance Minister Muhammad Ishaq Dar Saturday said 30,000 solar-powered tube-wells would be distributed among the farmers having less than 12.5 acre agricultural land across the country. Addressing a post-budget press conference here, he said tube-wells would be distributed through an open balloting for ensuring transparency in the process. He said farmers would be given bank loans for solar-powered pumps ... Read More »

Not new duty levied on vegetable ghee, oil: Dar

ISLAMABAD: Finance Minister Muhammad Ishaq Dar Saturday said that no new duty had been imposed on vegetable ghee and cooking oil in the Budget 2015-16. Addressing a post-budget press conference here, the minister said that 2 percent duty levied on the two commodities since 2005, had now been transferred to Section 148 of the Tax Ordinance. There would be no ... Read More »

FPCCI for more incentives to boost trade, industry activity

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leadership, after going through the federal budget in detail, has expressed certain reservations and called for more incentives and concessions to increase trade and industrial activities in the country. FPCCI President Mian Muhammad Adrees and FPCCI Senior Vice President Abdul Rahim Jano along with other officials of the apex trade ... Read More »

Dar says Budget 2015-16 is pro-poor

ISLAMABAD: Finance Minister Ishaq Dar said the Budget 2015-16 was pro-poor as no burden in wake of taxes has been put over them. Addressing a post-budget press conference in Islamabad, Dar said all data relating to the budget must be reported responsibly, adding that news pertaining to ending wheat subsidies in Gilgit-Baltistan was incorrect. He said a section of media ... Read More »

SCCI terms Budget 2015-16 as ‘unfriendly’ for business community

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has termed the Budget 2015-16 as not export-friendly budget. Talking to the newsmen at SCCI here today, SCCI President Fazal Jillani said that 50 percent increase in general sales tax from 2 to 3 percent would further create hurdles in the cash flow in Sialkot’s export oriented industry. SCCI demanded early exemption ... Read More »

Full Budget Speech of Federal Minister for Finance Ishaq Dar

Bismillahir-Rehmanir-Rahim Mr. Speaker, Once again, as I have the honor of presenting the Budget 2015-16, I bow my head before Allah (SWT) for untold and immeasurable blessings He has bestowed on this nation and the singular distinction He has conferred on Mohammad Nawaz Sharif, Prime Minister of Pakistan and his Government in restoring the health of a broken economy. The ... Read More »

APBF, Telenor pledge joint fforts to enrich national economy

LAHORE: The All Pakistan Business Forum (APBF) has recently entered into a valuable collaboration with Telenor, and according to an MoU signed between APBF and Telenor Pakistan, APBF will promote Telenor’s innovative products and services among its member organisations to enrich and accelerate the national economy. These products provide futuristic M-Commerce solutions, including GSM voice and data services, 3G technology, smart ... Read More »