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Tag Archives: Nawaz Sharif

NAB judge adjourns Al Azizia reference hearing till IHC’s ruling on Sharifs’ plea

ISLAMABAD: Judge Muhammad Bashir on Tuesday adjourned the Al Azizia corruption reference against convicted former prime minister (PM) Nawaz Sharif until the Islamabad High Court’s (IHC) ruling on an appeal filed by the Sharif family. Nawaz’s counsel had moved the IHC against conducting a jail trial and had entered a plea seeking the suspension of the Avenfield reference verdict. A ... Read More »

NAB takes Nawaz, Maryam into custody

LAHORE: Former premier Nawaz Sharif and his daughter Maryam Nawaz were taken into custody by National Accountability Bureau (NAB) officials shortly after arriving at Lahore’s Allama Iqbal International Airport on Friday night. They were subsequently boarded onto a small chartered plane bound for Islamabad International Airport (IIA). The flight has left Lahore. Upon landing at IIA, Nawaz and Maryam will ... Read More »

Exports of country to reach $50b within three years, Nawaz Sharif

ISLAMABAD: Prime Minister Nawaz Sharif while addressing the launch of Expo Pakistan said that the government is committed to make Pakistan the preferred zone for business activities. He hoped in next three years the exports of the country would rise to $50 billion. “We offer our foreign buyers a very competitive sourcing option. The captains of our industry have carved ... Read More »

Sales tax, duty to stay on import of solar power panels  

ISLAMABAD: A high-level meeting chaired by Finance Minister Ishaq Dar regarding solar panels decided the duty and sales tax regime applicable to an industry that does not have local production will be applicable to solar panels as well. Senior representatives of the Ministry of Industries & Production, Engineering Development Board, FBR and Ministry of Finance had detailed deliberations on the ... Read More »

Rs 50b project: Metro bus to ply on Islamabad roads by Jan 30

RAWALPINDI: The PML-N government is likely to inaugurate the metro bus service by January 25-30, authorities said. At the start of the project, the government increased the cost by Rs6.17 billion to Rs44.21 billion, which will be spent on Peshawar Mor Interchange. However, the pace of work by the National Logistic Cell (NLC) on the Peshawar Mor interchange and 9th ... Read More »

Nawaz forms body to restore gas for textile units of Punjab

  ISLAMABAD: Prime Minister Nawaz Sharif has formed a committee headed by Federal Finance Minister Ishaq Dar to finalise suggestions for settlement of the issue of gas shortage for textile industry in Punjab during winter months. The new committee has been constituted soon after the Government temporarily suspended the gas load management plan for the textile units in the Punjab ... Read More »

Domestic debt composition major culprit behind public debt increase: Finance Ministry

ISLAMABAD: The Finance Ministry has termed composition of domestic debt as main reason for the increase in public debt, Customs Today reliably learnt on Tuesday.  “Banks changed their interest rate outlook and sharply increased their participation in Pakistan Investment Bonds (PIBs) last year which resulted in a sharp increase in the public debt and,” a well-placed official source at Finance ... Read More »

LCCI smells a rat in gas closure to Punjab industry

LCCI president says government’s discriminatory attitude has put question mark on its ability to manage and govern things   LAHORE: The Lahore Chamber of Commerce and Industry on Tuesday said gas closure for Punjab Industry was a well-calculated conspiracy against the Nawaz Sharif-led government. In a statement issued, LCCI President Ijaz A Mumtaz said, “The rise in number of unemployed ... Read More »

Australia to assist Tevta for promotion of technical education

LAHORE: Australia will provide technical assistance to Technical Education and Vocational Training Authority (TEVTA) for the promotion of technical education and vocational training system across Punjab,  according to a press release. TEVTA Chairperson Irfan Qaiser Shaikh while addressing the officers at TEVTA Secretariat here on Monday claimed that Australian High Commissioner Mr Peter Heyward, in a meeting at his Embassy ... Read More »

LPG price cut by Rs10/kg, selling at Rs125 in Lahore, Sialkot, Faisalabad

KARACHI: Liquefied Petroleum Gas (LPG) price has been cut by Rs 10 per kg after slide in the prices of petroleum products. After that, price of domestic cylinder has been reduced by Rs 100 and commercial cylinder by Rs 350. Now, LPG price in Karachi is Rs 110 per kg while it is selling at the rate of Rs 125 ... Read More »

Pakistan’s Sharif to secure German, UK investment after landmark China visit

BERLIN: Prime Minister Nawaz Sharif, after singing different agreements and Memorandums of Understanding (MoUs) worth $42 billion in China, has arrived in Berlin to multiply already existing $2.5b trade by inviting German investors to invest particularly in Pakistan’s energy and agriculture sectors. From Germany, PM Nawaz will reach Britain on a two-day visit on November 12 to seek investments in ... Read More »

Strong rupee increased net collection of customs duty by 1 % : FBR Year Book 2013-14

ISLAMABAD: Increase in value of rupee versus dollar pushed net collection of customs duty up by around one percent in fiscal year 2013-14, a according to the Year Book 2013-14 issued by the Federal Board of Revenue (FBR). The Year Book 2013-14 of FBR showed that the Customs duty contributed around 17.4percent and 10.6percent in the indirect taxes and federal ... Read More »

Petrol pumps crush PM’s order, start selling petrol at Rs110/ltr

LAHORE: Petrol pump owners across Punjab have refused Rs 9.43 per litre cut in petrol price and closed down their petrol pumps on Saturday against Prime Minister Nawaz Sharif’s decision. Motorists and other vehicles owners are facing severe difficulties in different cities of Punjab including Lahore, Faisalabad, Multan, Bahawalpur and Sialkot due to petrol pump owners shutting down of their ... Read More »

 Pakistani declared second funniest person of world; bags $1000 award

NEW YORK: It seemed unbelievable that Pakistani humour could have such appeal and can beat contestants from UAE, France and Spain by getting more than 7,000 votes. Saad Haroon was over the moon at his accolade: “Even if I had taken the last position, I would not have been disappointed.” Obviously many of my fellow countrymen can barely contain ourselves at ... Read More »

PTI protest’s fear compels NEPRA to retain power tariff

ISLAMABAD: The government on Tuesday decided to retain the electricity tariff at an average rate of Rs11.52 per unit against a tariff of Rs13.81 per unit suggested by National Electric Power Regulatory Authority (NEPRA). The government decision is seemed to be heavily influenced by the announcement of PTI to stage protests against hike in power tariff. The government decided to ... Read More »

Imran, Qadri sit-ins inflict ‘billions of dollars’ loss on fragile economy: Khawaja Asif

ISLAMABAD: Pakistan has lost “billions of dollars” due to the recent anti-govt sit-ins led by Imran Khan and Tahir-ul Qadri, said Defence Minister Khawaja Asif. Addressing a press conference, he accused both Imran Khan and Tahirul Qadri of damaging the economy and attempting to derail ties with China. Defence Minister Khawaja Asif said that due to sit-ins and protests led ... Read More »

PTI bluntly confronts Nawaz govt for skyrocketing electricity bills

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) of Imran Khan on Monday strongly confronted the government for skyrocketing electricity bills, mounted prices of vegetables and fruits and prolonged loadshedding. PTI committee also placed various demands before the Nawaz Sharif government. The PTI core committee which met here said that the government paid off circular debt on pretext of ending loadshedding but load shedding ... Read More »

Pakistan, Afghanistan accord for transmitting 1300MW electricity

WASHINGTON: Pakistan and Afghanistan signed a much-awaited agreement Central Asia South Asia Electricity Transmission and Trade Project known as CASA-1000 on electricity transit fees. This would help establish commercial arrangements for 1,300MW of sustainable regional electricity trade between Kyrgyz Republic, Tajikistan, Afghanistan and Pakistan as part of the CASA-1000. Finance Minister Ishaq Dar described it a major step towards closer ... Read More »

2669 staffers of Pakistan Steel to retire in 3 years

ISLAMABAD: Summary for the recruitment as replacement of technical and non technical staff of the Pakistan Steel Mills (PSM) has been moved to the Prime Minister for approval. Out of 15274 existing PSM staff some 2669 highly technical and qualified will retire in coming three years while some 6,000 will retire by 2020. Moreover, there is already a shortfall of ... Read More »

Reduction in petrol prices this Eid: Rs 12?

ISLAMABAD: Brent crude hit a 28-month low to $92.04 a barrel, falling from $115 a barrel in mid-June while benchmark US oil dropped below the $90 a barrel mark for the first time since April 2013. It is almost 18 percent decline in oil price in international markets while locally Petroleum Ministry has just decreased the petrol price by Rs ... Read More »