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Author Archives: CT Report

Economic Corridor to benefit all provinces: Interior Minister  

PESHAWAR: Minister for Interior, Chaudhry Nisar Ali Khan Friday said Federal Government would take all provinces on board with regard to China-Pakistan Economic Corridor project. He said that CPECP was a very important project for Pakistan that would largely benefit people of all the provinces including Khyber Pakthunkhwa. Asked about KP government concerns over load-shedding in KP, the Interior Minister ... Read More »

Wapda signs agreement for constructing transmission line at Dasu  

LAHORE: The Pakistan Water and Power Development Authority (Wapda) Friday signed an agreement with Power Construction Corporation of China for construction of132 Kilo Volt (KV) transmission line from Duber Khwar Hydel Power Station to Dasu for providing uninterrupted power supply to facilitate the construction of Dasu Hydropower Project. The contract worth Rs 1.583 billion includes procurement, design, supply, installation, stringing, ... Read More »

SECP for new regulations to prevent criminal use of modarba institutions  

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the draft of Modaraba Regulations, 2015 to provide a level- playing field to modarabas with all other participants of non-bank financial sector. The draft was notified through S.R.0. 334(1)/2015,to obtain feedback of the general public and stakeholders, according to a press release here Friday. Comprehensive provisions have also been ... Read More »

SECP to establish insurance repository to improve insurance industry  

ISLAMABAD: The Chairman Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi on Friday said that the SECP was working to establish an Insurance Repository in Pakistan. Hijazi was speaking at a roundtable on establishment of insurance repository in Pakistan, organized by the SECP. Senior officials from the SECP, life insurance industry and the Central Depository of Pakistan were also ... Read More »

1500 MW additional electricity to be added to national grid system: Abid     

ISLAMABAD: State Minister for Water and Power Chaudhary Abid Sher Ali on Friday informed the National Assembly that additional 1500 megawatts electricity would be added to the national grid system in May. Replying to various questions during Question Hour, the minister said that the government has launched many power generation projects and the menace of power load-shedding would be completely ... Read More »

New technologies to boost fruits and vegetables export: Bosan  

ISLAMABAD: Federal Minister for National Food Security and Research, Sikandar Hayat Khan Bosan Friday said that the dream of boosting exports of fruits and vegetables was being materialized through the introduction of latest technologies by the agriculture scientists. The minister said this while addressing the “Fruit and Vegetable Promotion Conference” in Karachi today. The conference was organized by the Department ... Read More »

Pak-Vietman ink MoU for trade promotion

ISLAMABAD: Trade Development Authority of Pakistan (TDAP) and Vietnam Trade Promotion Agency (Vietrade) signed a Memorandum of Understanding (MoU) on cooperation for trade promotion between two countries. The MoU was signed at the conclusion of 3rd Meeting of Joint Trade Commission. The signing ceremony was held at the Ministry of Industry and Trade in Hanoi-Vietnam in which Secretary TDAP, Rabiya ... Read More »

KPT Shipping Movement Report

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Friday. SHIPS SAILED: Commodore Cont Sima Prestige Cont Ocean Skipper G.C Ocean Star 1 Tanker SHIPS BERTHED: RHL Aqua Cont Da Zi Yun G.C IVS Naruo Coal Cosco Osaka Cont Quetta Tanker Cosco Kawasaki Cont Gema Tanker EXPECTED SAILING DATE ... Read More »

Implementation process expedited on CPEC: Ahsan Iqbal     

ISLAMABAD: The visit of Chinese President Xi Jinping has made Pakistan the investment destination for the national and global investors and 2015 is the implementation year for China- Pakistan Economic Corridor (CPEC), said Federal Minister for Planning and Development Prof. Ahsan Iqbal. While chairing a meeting on implementation of projects under CPEC here on Thursday, the Federal Minister said “An ... Read More »

ECC approves import of 100,000 tons of Urea

ISLAMABAD: The Economic Coordination Committee (ECC) of  the Cabinet here on Thursday approved the import of 100,000 tons of Urea Fertilizer for Kharif season 2015 and enhanced imported supply of 82,000 tons approximately under SABIC facility within the earlier allocated amount. Federal Minister for Finance, Mohammad Ishaq Dar chaired the meeting which also allowed agreement between Economic Affairs Division and ... Read More »

Govt welcomes international banks and financial institutions for business: Dar     

ISLAMABAD: Federal Minister for Finance, Senator Mohammad Ishaq Dar here on Thursday said that international banks and financial institutions were coming forward to do business in Pakistan and government also welcomed Al-Baraka Islamic Bank in this regard. The Chairman Al-Baraka Islamic Bank, Khalid Rashid Alzayani along with members of the Al-Baraka Board of Directors and management team met the Federal ... Read More »

Board of Revenue Punjab arranges informative conference

LAHORE: Project Management Unit Board of Revenue Punjab has arranged an informative conference for representatives of Punjab Bar Council, government members and office-bearers on the project of Land Record Management and Information. The participants were apprised of importance of the project, aims and objectives and the progress made so far in this regard, said a press release here Thursday. Senior ... Read More »

Role of women in eradicating corruption is vital: Chairman NAB 

ISLAMABAD: National Accountability Bureau (NAB) is aggressively pursuing “Awareness and Prevention” regarding corruption by targeting youth in particular and masses in general, on the directives of Chairman, NAB, Qamar Zaman Chaudhry. This campaign is intended to change the attitude and mindset on corruption and its ill effects on society, said a press release. Qamar Zaman Chaudhry said that since mothers ... Read More »

KPT Shipping Movement Report

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Thursday. SHIPS SAILED: Genuine Venus SSL Gujarat Hanjin Scarlet Northern Power Birth 3 Miseno Jin Jun Pac Aries Alam Makmur SHIPS BERTHED: OOCL California Container Ship Pac Aries Container Ship Turris Tanker Sima Presitige Container Ship Stove Trader General Cargo ... Read More »

CDNS mobilizes Rs 269 billion savings during 9 months

ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved Rs 269 billion savings during current fiscal year from July to March, 2015 against the target of Rs 284 billion. An official of CDNS giving breakups of nine months of the year 2014-15 regarding achievements of the CDNS said here on Thursday that “People have shown confidence in National Saving, ... Read More »

SBP asks commercial banks to deploy more ATM machines

KARACHI: The State Bank of Pakistan has asked commercial banks to deploy more ATM machines nationwide, as currently available network of 9,000 machines lacks the strength to facilitate the growing population in future, said a Deputy Governor of the central bank, Riaz Riazuddin on Thursday. “Density of ATMs is low in Pakistan and we need to increase it in future,” ... Read More »

Property Tax Bill moved in Balochistan Assembly

QUETTA: The Balochistan Urban Immoveable Property Tax (Amendment) Bill 2015 moved in the session of the Balochistan Assembly. The assembly session held with Member of Panel of Chairmen, Dr. Ruqayya Saeed Hashmi in chair, here on Tuesday evening. Provincial Minister for Excise and Taxation, Sheikh Jaffar Khan Mandokhel presented the Balochistan Urban Immoveable Property Tax (Amendment) Bill, 2015 (Bill No. ... Read More »

NAB committee recommends CDA to show zero tolerance on non-conforming use of plots

ISLAMABAD: The Prevention Committee constituted by National Accountability Bureau (NAB) on Capital Development Authority (CDA) in its first meeting recommended the civic body to show zero tolerance on non-conforming use of plots. The committee also suggested that the NOC from CDA must be made a pre-requisite for Registry/Mutation by Revenue Authorities in Islamabad Capital Territory (ICT). It further recommended that ... Read More »

ANF arrests 14 drug traffickers including four ladies; seizes drugs worth Rs 245 million

ISLAMABAD: Anti Narcotics Force (ANF) has recovered 21.6 kg heroin, 33.6 kg charas, 18 kg opium and 900 grams ice drug (amphetamine) worth Rs 245 millin, arresting 14 drug traffickers including four ladies. ANF in its drive against drug trafficking, conducted nine operations across the country, said a press release issued here on Tuesday. According to details, ANF Rawalpindi during ... Read More »

Business community appreciates Chinese investment of US $45 billion in Pakistan

ISLAMABAD: The business community has welcomed the visit of Chinese President, Xi Jinping and signing of Memorandums of Understanding (MoUs) worth over US $45 billion investment in Pakistan which would bring prosperity not only in the country but also in entire region. “We highly appreciate the visit of our time tested friend Chinese President to Pakistan, his address to joint ... Read More »