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Author Archives: CT Report

Jatoi urges Belorussia to develop FTA with Pak for enhancing trade

Federal minister for industries meets with Belorussian counterpart ISLAMABAD: Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi met with Belorussian Minister of Industry Vitaly Vovk and discussed investment opportunities in auto sector. Vovk conveyed Belorussia’s interest of setting up plants to assemble automobile parts, buses, tractors and grain harvesters within Pakistan. He also showed interest in military related ... Read More »

NAB prepares recommendations to combat corruption in health sector

ISLAMABAD: National Accountability Bureau (NAB) has constituted a Prevention Committee on Health Affairs to examine related laws in force, rules and regulations in order to eliminate corruption and corrupt practices in the sector. As per directions of Chairman, Qamar Zaman Chaudry, the Committee has been constituted under chairmanship of Director General of A&P, NAB Headquarters. The mandate of the committee ... Read More »

SNGPL to ensure transparency through computerized new gas connections

ISLAMABAD: General Manager Sui Northern Gas Pipeline Limited (SNGPL) Islamabad Region, Ejaz Ahmad Chaudhry on Monday said that new gas connections would be provided through computerized system to facilitate the consumer as well as ensure transparency. Talking to APP, he said that the new gas connections would only be provided on first come and first serve basis. He said that ... Read More »

Pakistan’s exports to China surge by 320% after FTA 2012-13

ISLAMABAD: Pakistan and China have completed first phase of implementation of Free Trade Agreement (FTA) 2012-13 and during this period exports to China recorded growth of 320 percent. Similarly, during the period, the imports grew at 120 per cent, sources at Commerce Division said here on Monday. Sources said in order to better utilize concessions and address concerns of the ... Read More »

Govt committed to extend all facilities to foreign investors: Miftah

ISLAMABAD: Minister of State and Chairman Board of Investment (BoI), Dr. Miftah Ismail here on Monday reaffirmed that the government’s commitment for extending all possible facilities to foreign investors to encourage and attract direct investment for the prosperity of the country. Addressing the first ‘Pak-Belarus Business Forum’ organized by BoI, he said that the event would help to explore trade ... Read More »

Upcoming Budget 2015-16 to bring incentives for betterment of overall economy

Dar meets FBR officials to discuss budget proposals ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar said Monday the upcoming budget 2015-16 would bring encouraging incentives for the betterment of the overall economy and for generation of employment opportunities He was chairing a meeting at the Federal Board of Revenue (FBR) which discussed budget proposals for the upcoming financial year, ... Read More »

MoU signed to promote Islamic Banking in Uganda

ISLAMABAD: A Memorandum of Understanding (MoU) was signed between AlHuda CIBE and legal Chamber of Islamic Chamber of Commerce to promote Islamic Banking in Uganda. On behalf of AlHuda CIBE Uganda, Ahmed Abdallah, the country head of AlHuda CIBE and Asuman Mukiibi Serunjogi, the President of Islamic Chamber of Commerce, Uganda signed the MoU in Kampala, said a press release ... Read More »

KPT shipping intelligence report

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier): Berth No Ship Working Agent Berthing Date OP-II Al Mahboobah D. Chemical GAC 22/05/15 ALONG SIDE (East Wharves): 2/3 Yasa Aysen D. Meal East Wind 18/05/15 5 Poavosa Wisdom VIII D. Dap Bulk.Sh. 14/05/15 ... Read More »

KPT shipping movement report

KARACHI: Following were the movement of ships at Karachi Port during the last 48 hours, ending at 0700 hours on Monday. SHIPS SAILED: Al Mahboobah Poavosa Wisdom VIII DL Aster Izumi Sudair APL Guangzhou Northern Guild Salzgitter Commodore SHIPS BERTHED: Bright Dawn Tanker HR Revolution General Cargo KMTC Mumbai Containers Ship New York Star Tanker Commodore Containers Ship MOL Distinction ... Read More »

PCG seizes liquor worth Rs 17 million in Balochistan

KARACHI: Pakistan Coast Guards (PCG) has claimed to seize a huge quantity of foreign origin liquor worth around Rs 17 millions, from Coastal Highway near Badoke an area of Balochistan. The PCG officials received information from intelligence sources about dumping of foreign brand liquor around surrounding area of Sindhri Nallah, Badoke, (Balochistan). Accordingly special search teams were assigned task to ... Read More »

Ishaq Dar welcomes State Bank’s decision to lower policy rate

ISLAMABAD: Finance Minister Ishaq Dar has hailed announcement by the State Bank of Pakistan (SBP) to lower its policy rate, saying it would spur business and economic activities in the country. The minister said that decision by the SBP to reduce policy rate from 8 percent to 7 percent is a manifestation of improvement in macroeconomic conditions as reflected in ... Read More »

MCCI asks govt to provide cargo aircrafts for export

MULTAN: President of Multan Chamber and Commerce and Industries, Mian Iqbal Hussain said that government must provide the facility of wide body aircraft for the export of various goods from the Multan International Airport. International Airport exporters need immediate facility of separate cargo aircraft for the export of their product. Iqbal Hussain was visiting the export terminal of Multan International ... Read More »

UK committed to further enhancing trade ties with Pakistan: Baroness Nosheena

Nosheena Mobarik says UK views Pakistan as a long-term strategic partner, will continue to support all its endeavours aimed at expansion of trade relations between the two countries LAHORE: Member of UK House of Lords Baroness Nosheena Mobarik has said that the British government is committed to a long-term, productive and friendly partnership with Pakistan. She was talking to LCCI ... Read More »

Need stressed for energy conservation in industries to improve productivity

ISLAMABAD: Industries should focus on energy conservation by promoting the use of energy-efficient equipment and machinery that will help in saving sufficient energy and making more power available for manufacturing units to enhance productivity. This was said by Islamabad Electric Supply Company Chief Executive Officer Malik Yousaf Awan while addressing a seminar on energy conservation at the Islamabad Chamber of ... Read More »

Volkswagen Vento ready to attract fans

BERLIN: 2015 Volkswagen Vento may share a lot of its components with the Polo but targets a different audience. The car did get an update last year but it still looked more like its hatchback sibling when viewed from upfront. Competition from newer C  segment sedans and its cousin, the Rapid meant the car was no longer as desirable. But ... Read More »

All you must know about Toyota Hilux Revo pickup

TOKYO: Toyota’s best-selling pickup gets renovation in design, bigger body, more economical powertrains, car-like interior, more safety features and a new moniker. Toyota has staged the world premiere of its eight-generation Hilux in Thailand today after selling its direct predecessor for 11 years. Developed as a replacement for the Hilux Vigo, the Hilux Revo gets a new diesel engine family ... Read More »

Dar urges envoys to benefit from investment in Pakistan

ISLAMABAD: Terming Pakistan as one of the best investment destination Minister for Finance, Senator Mohammad Ishaq Dar has called upon the ambassadors and high commissioners of the friendly countries to take benefit from the investment and trade opportunities being offered in the different sectors of economy in the country. The present government through its prudent and investment friendly economic policies ... Read More »

Investment in energy sector of Pakistan is on rise: Abbasi

ISLAMABAD: Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi Saturday said investment in the oil and gas sector of the country was on the rise. Talking to a private television channel, he said it was a good sign that a number of new companies were also aspiring to invest in the energy sector. He said that Pakistan would ... Read More »

Punjab Governor Rafiq says country’s economy improving

LAHORE: Governor Punjab, Rafiq Rajwana said that international rating agencies had declared that the country’s economy was improving and its effects were being trickling down to the masses. To a question, he said people demanded a new province when they faced problems. The new provinces were need of the hour as assembly resolutions for two new ones in South Punjab ... Read More »

SBP reduces interest rate to 7%

ISLAMABAD: The State Bank of Pakistan (SBP) Saturday announced monetary policy for next two months, by reducing the ceiling of interest rate corridor by 100 basis points from 8 to 7 per cent. SBP Governor Ashraf Mehmood Wathra made this announcement here at a press conference while the cenrtal bank’s board of directors meeting was in progress. SBP Deputy Governor ... Read More »