Showing posts with label Business. Show all posts

‘Shukriya Pakistan’ drive getting bigger and better


KARACHI: People across the country are warmly appreciating the Daily Times and ARY Digital Network’s patriotic initiative 'Shukriya Pakistan' as recently Saima Builders, Ocean Mall and Jubilee Insurance have joined Shukriya Pakistan campaign.
After the signing ceremony of Memorandum of Understanding (MoU), Jubilee Insurance Group Head Fakher Sohail said, "We are with DailyTimes and ARY in this campaign with an aim to be apart of this outstanding initiative on the Independence Day, so we can thank to our forefathers for giving us such 
a great country."
Jubilee Insurance Marketing Head Murtaza Zafer said that Jubilee Insurance has contributed in this campaign by preparing an exclusive song which is to be aired on ARY Network throughout the 'Azadi' celebrations under the 'Shukriya Pakistan' title.
ARY Digital Network Senior Vice President for Sales, Muhammad Abrar Karim, said "Overwhelming response from top business organisations to become a part of this campaign is showing the immense love of people of Pakistan for their country and this response is very encouraging for our initiative and this type of campaign was a need of hour."

Govt to establish Gwadar Airport, Expressway this year: Planning Minister


ISLAMABAD: Federal Minister for Planning, Development and Reform, Ahsan Iqbal, said on Monday that the groundbreaking of Gwadar International Airport and Expressway would be performed this year.
He remarked this while talking to a delegation of Gwadar Press Club which called on him here, further adding, "Three routes to link Gwadar with rest of the country would be made available by December 2016." The government has also planned to complete Gwadar International Airport at a cost of $260 million with a capacity of handling the largest of passenger planes including the A-380 Boeing jets. The minister said, "Gwadar and Balochistan province would be biggest beneficiaries of China-Pakistan Economic Corridor (CPEC), " further adding that the first Economic Zone would also be established at Gwadar.
He also said that because of the various financial incentives that the administration had offered to potential investors in the Special Economic Zone of Gwadar, significant interest had grown among investors, both in Pakistan and abroad.
Iqbal also added, "Vocational and Technical Training Institute would be built to impart local population of Gwadar training of skills and provide employment." He also informed the delegation of the Gwadar university, which would be established this year to ensure higher education facilities to the local youth. "Gwadar city would not only be provided with a modern seaport but it would be made a centre of social and economic activities," he added.

WAPDA employees are behind power pilferage: NA committee told


ISLAMABAD: Ministry of Water and Power Secretary Younus Dhagha has said that WAPDA employees are involved in electricity pilferage and the government faces difficulties in launching any action against them because of weaknesses in the system.
He admitted this in a National Assembly (NA) standing committee here on Monday. The committee met here under chairman committee Arshid Khan Leghari Monda.
The Minister for Water and Power admitted before the committee that "Kissan Ittehad Council (KIC) is a gang which uses electricity by depositing Rs 1000 to Rs 2000 per metre. KIC has thrashed the employees but the proceedings could not go ahead due to intervention of Punjab government. Khawaja Asif also offered to the Sindh government to reduce the outstanding electricity bill even if they agreed to pay it in installments.
The Minister was responding to the complaints by Syed Ghulam Mustafa Shah and Nawab Muhammad Yousuf Talpur, both belonging to the PPP and Sindh province. They complained that power distribution companies of Sindh were poorly managed and prolonged load shedding occurred there.
Ghulam Mustafa Shah said that the consumers of Sukkur Electric Power Company (SEPCO) faced up to 16 hours of load shedding.

Traders want early completion of CPEC-related projects


ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that the business community wanted early completion of the projects related to the China-Pakistan Economic Corridor (CPEC), so that Pakistan could enjoy the fruits of massive Chinese investment. "Chinese investment of $34 billion in Pakistan's energy sector will end load shedding forever besides turning the wheel of economy," said FPCCI President Abdul Rauf Alam on Sunday, adding that the business community of Pakistan was poised to offer all out cooperation to the Chinese companies involved in the CPEC projects. He said the FPCCI would play its role in creating synergies between Chinese and local companies for which all the chambers of commerce would be taken on board. The FPCCI president said that CPEC was a great opportunity for Pakistan, which should be fully utilised as it was meant to provide economic advantage, a land route to China and integration with different nations. 

Traders played vibrant role for strengthening national economy: SCCI


SIALKOT: Mansoor Ahmed, President, Sialkot Chamber of Commerce and Industry (SCCI) said on Sunday the SCCI had focused its special attention on enhancing export volume.
Talking to media sources, he said that strengthening of national economy had become a significant imperative at this juncture and business community of Sialkot was ready to play its vibrant role with missionary zeal in this regard.
In this regard, special attention is being paid to strengthen the SME sector, he added.
Sialkot is an export-oriented city as well as a hub of cottage industry, which represents SME sector. The traders are playing a significant role in not only providing employment opportunities but also strengthening the national exchequer, he added.
"We are actively considering to arrange foreign tours for SMEs with the active cooperation of Commerce Ministry and Trade Development Authority of Pakistan (TDAP)," he noted.

FBR plans evolving new system to facilitate taxpayers


RAWALPINDI: Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan has said that the concerns of taxpayers and tax law partitions would be resolved by keeping in view the difficulties of filers as well as practitioners.
While addressing a seminar organised by the Pakistan Tax Bar Association (PTBA) during Summer Camp 2016 at Murree, which was conducted PTBA Secretary General Abdul Qadoos Mughal, he said it was imperative to evolve a tax culture with an aim to enhance financial resources for socioeconomic development and welfare of the country.
Tax law professionals from all over the country and PTBA office-bearers participated in the proceedings of Summer Camp 2016 in which learned sessions were conducted by the national experts and eminent scholars.
The FBR chairman said that new taxation system would be evolved to improve the efficiency of FBR as well as to facilitate taxpayers. He also disclosed that research and marketing analyses cells would be established in FBR to resolve the issues in a proficient manner and streamlining the working procedure. 

G20 will use 'all policy tools' to protect growth as Brexit looms


Chengdu Leaders from the world's biggest economies are poised on Sunday to renew their commitments to support global growth and better coordinate actions in the face of uncertainty over Britain's decision to leave the European Union and growing protectionism.

The meeting of finance ministers and central bankers from the Group of 20 major economies in China's southwestern city of Chengdu is the first of its kind since last month's Brexit vote and a debut for Britain's new finance minister. Philip Hammond faced questions about how quickly the UK planned to move ahead with formal negotiations to leave the EU.

"We are taking actions to foster confidence and support growth," a draft statement by the policymakers seen by Reuters said.

"In light of recent developments, we reiterate our determination to use all policy tools – monetary, fiscal and structural – individually and collectively to achieve our goal of strong, sustainable and balanced growth," it said.

The International Monetary Fund this week cut its global growth forecasts because of the Brexit vote.
Data on Friday seemed to bear out fears, with a British business activity index posting its biggest drop in its 20-year history.