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Author Archives: CT Report

Dar releases funds of Rs 5billion for USF Tele-centers   

ISLAMABAD: Federal Minister for Finance, Senator Mohammad Ishaq Dar here on Saturday approved release of fund of Rs 5 billion for USF Tele-center Projects throughout Pakistan. The Minister also simultaneously ordered release of Rs 5 billion from federal consolidated fund (FCF) for the USF project. In addition Rs 1 billion would also be released for the R&D projects. The Finance Minister ... Read More »

Dar urges all political parties to support CPEC

ISLAMABAD: Finance Minister Ishaq Dar said the the China-Pakistan Economic Corridor (CPEC) was a project of national importance which showed confidence of the Chinese President and people in the leadership and policies of Prime Minister Nawaz Sharif. “It is the responsibility of all political parties to demonstrate maturity and support the project in the larger national interest as the enemies ... Read More »

Faisalabad most lucrative city for Turkish investment: DCO

FAISALABAD: Faisalabad is one of the most lucrative cities for Turkish investment as the recent measures taken for its infrastructural development will make this city as an engine of the national economic growth within next couple of years. This was stated by DCO Noorul Amin while addressing the members of the Turkish Delegation that visited the FCCI here on Saturday. ... Read More »

Pakistan wants early completion of TAPI gas pipeline project: Mamnoon

ISTANBUL: President Mamnoon Hussain on Friday said that Pakistan was giving high priority to the timely completion of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. He stated that the project was not only cost effective for all countries concerned but also provided an opportunity for enhancing bilateral cooperation between Pakistan and Turkmenistan. The President said this in a meeting with President of ... Read More »

Chinese investment to bring economic stability: Ahsan      

FAISALABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal Friday said that Chinese investment of US $ 45 billion will play a positive role in bringing economic progress and development in the country and it would also encourage other countries to invest in Pakistan. Addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI) here, he said that ... Read More »

Pakistan’s economy turning around; inflation at 13-years low: PM 

LONDON: Prime Minister Muhammad Nawaz Sharif on Friday said that with inflation at 13-year low in Pakistan, improved GDP growth and high forex reserves, the country’s economy was turning around. Talking to newsmen after his arrival here on the invitation ofBritish Prime Minister David Cameron, he also mentioned the reduction in the prices of petroleum products, causing slash in the ... Read More »

Agreements with China to open up new avenues of progress: Shahbaz 

PESHAWAR: Chief Minister Punjab Muhammad Shahbaz Sharif Friday said that agreements inked with China in diversified sectors would open up new avenues of progress and development in the country adding that no change has been made in Kashgar-Gwadar route and rebuffed all notions to this effect. Talking to media, after offering Fateha for the departed soul of Senator Azam Khan ... Read More »

Shipping activity at Port Qasim

KARACHI: Shipping activity remained active at the port where four ships carrying containers, cement and chemical were berthed at Qasim international containers Terminal, Multi Purpose Terminal and Engro Vopak Terminal respectively. Meanwhile one seven more ships carrying containers, LNG, G. Cargo and chemical also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was 65% at ... Read More »

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 »