Sunday , April 11 2021
Breaking News
Home / Author Archives: CT Report (page 4)

Author Archives: CT Report

Spices export increases 8.20pc to $ 61m in 8 months

ISLAMABAD: The export of spices from the country witnessed an increase of 8.20 percent during the eight months of financial year 2020-21, against the export of the corresponding period of last year. Pakistan exported spices of worth $ 61.494 million during July-February (2020-21) against the exports of $ 56.836 million during July-February (2019-20), according to the Pakistan Bureau of Statistics ... Read More »

Director Dr. Sadiqullah Khan’s Hyderabad I&I impounds smuggled fabric, vehicle worth Rs35.5m near Kashmore

HYDERABAD: Under the supervision of Director Customs Intelligence and Investigation Dr. Sadiqullah Khan, Directorate of Customs Intelligence and Investigation (I&I) team foiled an attempt to smuggle huge quantity of foreign origin fabric from Quetta. The market value of seized fabric is approximately Rs30 million and that vehicle is Rs5.5 million. According to the details, Customs Intelligence and Investigation Director Sadiqullah ... Read More »

CPEC projects progressing at fast pace : Asad Umar

KARACHI: The projects under the China-Pakistan Economic Corridor (CPEC) are progressing at a fast pace during the tenure of the PTI government, Federal Minister for Planning and Development Asad Umar said. He was addressing a reception ceremony held in connection with the arrival of the first consignment of equipment and machinery for the Century Steel at the Karachi Port, to ... Read More »

Rice exporters launched COVID-19 awareness campaign for rice growers

ISLAMABAD: Rice exporters have launched a corona awareness campaign for rice farmers and also distributed various items including Personal Protective Equipment (PPE) to protect them from the epidemic. Rice growers are the world s first food security defense line, whose epidemic protection should be our top priority, Chief Operating Officer of rice exporter group, Rice Partners Pvt Ltd (RPL) Muhammad ... Read More »

Customs PMBQ posts 3.71pc growth in revenue collection

KARACHI: Collectorate of Customs Port Mohammad bin Qasim  (PMBQ) collected revenue of Rs512.13 billion during nine months (July-March 2020-21), which is 3.71 percent higher than the revenue of Rs493.77 billion collected in the same period last year fiscal year. The Collectorate also surpassed the assigned revenue collection target for the period under review. According to the details, during the month ... Read More »

Business owners of South Punjab express concerns over strict conditions for acquiring new industrial electricity connections

MULTAN: Business community of South Punjab has shown concerns over strict conditions for acquiring new industrial electricity connections for the industry. The Federal Board of Revenue (FBR) has been urged to bring all persons having industrial and electricity utility connections into tax net to ease tax burden on existing taxpayers. Multan Chamber of Commerce and Industry (MCCI) in its proposals ... Read More »

RCCI lauds decrease in POL prices, urge govt to pass on the benefits to the masses

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President Muhammad Nasir Mirza while lauding the move Government to reduce petroleum prices. In a statement, he said the government should ensure that the impact of the cuts must be shifted to the masses. Petrol and diesel prices have a direct impact on transportation costs. According to the Pakistan Bureau of ... Read More »

SBP revises instructions for financing wheat procurement

KARACHI: The State Bank of Pakistan (SBP) has issued notification to revise instructions regarding bank financing for wheat procurement by the private sector. The SBP issued circular No. 02 of 2021 for amending the instructions issued on March 19, 2021 for financing wheat procurement by the private sector. Following amendments have been notified by the SBP: For private sector participation ... Read More »

FTO suggests initiating criminal prosecution against smugglers

ISLAMABAD: Federal Tax Ombudsman (FTO) has recommended that tax authorities should initiate criminal prosecutions against persons involved in smuggling or selling non-duty paid goods. In its proposals for budget 2021/2022, the FTO recommended measures on the issues of smuggling, misdeclarations, under-invoicing and non-transparent auctions. In order to effectively check the smuggling, it was recommended that criminal prosecution should be initiated ... Read More »

FBR to access declarations filed under amnesty scheme

ISLAMABAD: The senior officials of the Federal Board of Revenue (FBR) have been authorized to access declarations of undisclosed income and assets under amnesty scheme of year 2019. The FBR issued SRO 369(I)/2021 to notify Assets Declaration Rules, 2021 dated March 31, 2021. Under rule 15 access has been authorized to declarations under the act i.e. Assets Declaration Act, 2019. ... Read More »

KCCI appeals Sindh govt to relook decision to shut down business activities for two days a week

KARACHI: Chairman Businessmen Group & Former President KCCI Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI) Shariq Vohra have appealed the Sindh Government to relook the decision to shut down all types of commercial/ business activities for two consecutive days a week which was tantamount to mass killing of the already perturbed small traders and shopkeepers who ... Read More »

PM Imran Khan reconstitutes Economic Advisory Council

ISLAMABAD: Prime Minister Imran Khan has approved the re-constitution of the Economic Advisory Council (EAC), following which the finance minister can chair the meeting in his absence. In the statement, the Finance Division said the change was made to recommend macro-economic stabilisation measures and carry forward the reform agenda for robust and sustained economic growth. an says no to resuming ... Read More »

Policies in Pakistan’s favour to be implemented despite IMF aid: Dr Reza Baqir

KARACHI: Policies in Pakistan’s favour would be implemented despite aid from the International Monetary Fund (IMF), State Bank of Pakistan (SBP) Governor Dr Reza Baqir said. Speaking in a private channel programme “Naya Pakistan”, Dr Baqir said Pakistan’s economy has been faring better during the third coronavirus wave than the first two. “There’s growth in various sectors, including cement and ... Read More »

Economy in much better condition than in 2018: Hammad Azhar

ISLAMABAD:  Federal Minister for Finance and Revenue, Hammad Azhar said despite challenges, the economy of the country was in much better condition than it was back in 2018 when the incumbent government assumed the power. Speaking in live call session along with Prime Minister, Imran Khan, the federal minister said no doubt challenges were there but there was sea of ... Read More »

Deposits in RDA cross $800m mark in 7 months

ISLAMABAD: The deposits in the State Bank of Pakistan (SBP)’s initiatives Roshan Digital Accounts (RDA) have crossed $800 million mark in seven months. The deposits by the overseas Pakistanis have crossed the $800 million mark on the back of huge inflows of $212 million in March, according to the SBP. The SBP said the inflows had been accelerating every month ... Read More »

Rejection of trade proposal with India would bring prosperity for economy: Khawaja Jalaluddin Roomi

MULTAN: Welcoming the decision of Prime Minister Imran not to import cotton & sugar from India and bilateral trade, noted industrialist, ex-Punjab caretaker Minister for Industry, Ex-President of Multan Chamber, and Ex-Chairman of Multan Dryport trust Khawaja Jalaluddin Roomi who is sitting president of Dera Ghazi Khan Chamber of Commerce & Industry said that rejection of trade proposal with India ... Read More »

RCCI lauds CPO role in maintaining law and order in the city

RAWALPINDI: The Rawalpindi Chamber of Commerce and industry (RCCI) President Muhammad Nasir Mirza called on City Police Officer (CPO) Rawalpindi Ahsan Younis. Talking to the President Chamber, CPO Ahsan Younis said that work on the Safe City project for Rawalpindi city is underway. Modern technology is essential to curb crime, and the Department of Police will provide all kinds of ... Read More »

FBR chairman Javed Ghani inaugurates head office of Pakistan Single Window

ISLAMABAD: Muhammad Javed Ghani, Chiarman, Federal Board of Revenue (FBR) inaugurated the head office of Pakistan Single Window (PSW) Company. Addressing the gathering, Chairman FBR lauded efforts of Pakistan Customs to roll out Pakistan Singe Window (PSW) System almost a year before its deadline of June, 2022 set under World Trade Organization’s Trade Facilitation Agreement. He also appreciated Customs for ... Read More »

E&T dept upgrading online tax payment system, facility to improve further in future: DG Munir Zardari

KARACHI: Director General Excise & Taxation (E&T) and Narcotics Control Sindh Muneer Ahmed Zardari has said that E&T Dept was in the process of further upgrading its online tax payment system which might not be ideal today but was much better than what it had been in the past and would improve further in the days to come when the ... Read More »

Jahangir, Ali Tareen secure interim bail from banking court in Lahore

LAHORE: A banking court granted interim bail to Jahangir Tareen and his son Ali Tareen in cases against them relating to alleged fraud and money laundering in Lahore on Saturday. The Lahore banking court has granted interim bail to Jahangir and Ali in exchange for bail bonds of Rs500,000 each. The bail has been granted till April 10. Jahangir and ... Read More »