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Economy

FBR issues Rs 8.741b sales tax refunds

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ISLAMABAD: The Federal Board of Revenue (FBR) has released sales tax refunds of Rs 8.741 billion to some 739 claimants from five export-oriented zero-rated sectors such as textiles, carpets, leather, sports goods, and surgical instruments.
The Bureau had issued an advisory to the State Bank of Pakistan for making the payment of refunds to the exporters against 4,117 refund payment orders issued up to November 8, 2018, an FBR press statement said here Saturday.
The refund payments would be transmitted electronically to the respective bank accounts of the claimants by the SBP by the close of banking hours on Monday, November 12, it added.
The FBR said the payments had been made to all those claimants of the aforesaid categories, who had provided their bank account details in IBAN format. Those refund claimants, who had not provided an account number in the IBAN format, should provide the same through their user ID on FBR’s web portal, it added.
The statement said the FBR was conscious of the problems being faced by the businesses on account of outstanding refunds and was working on a plan to pay the remaining outstanding refund claims at the earliest.

 

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Pak-Iran train service restores in Chaghi

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CHAGHI: The Pakistan and Iran train services have been restored after completing the rescue activities here today.
According to the Railway sources, three days back the cargo train was de-tracked due to failing an engine resulting around 100 feet railway track was damaged in this incident.
After a hectic effort of the Railway department with several labor workers, the service of Railway reopened and track reconstructed in a short time period.

 

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Economy

PRs Rwp Division earns Rs 1587m

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Railways planning to sell around 10 commercial plots

RAWALPINDI: With continuous efforts and hard work of railways management, officers and workers, Pakistan Railways’ Rawalpindi Division earned over Rs 1587.960 million during last six months, 57.99 percent of total Rs 2738.285 million targets set for 2018-19.
Talking to APP Division Commercial Officer (DCO) Rawalpindi Hamid Farooq Qureshi informed that so many initiatives were taken by the management to improve the revenue of the Railways.
To a question he said, Pakistan Railways, Rawalpindi Division earned Rs 180.654 million through E-Ticketing facility during six months while during the 2017-18 financial year Rs 173.787 million revenue was generated.
The DCO informed that nearly three-year back the facility was re-launched in an effort to facilitate the passengers in booking their seats from anywhere in the country. Initially, the online system was introduced for the railways flagship train ‘Green Line Express’, besides five rail cars.
The E-ticketing facility is now available here for all passenger trains, he said adding, the online booking system has not only ended black marketing of tickets but also improved PR’s accounting system.
The PRs re-launched the E-ticketing system in collaboration with United Bank Limited. The passengers can pay for their tickets online via credit or debit cards, online bank transfers or microtransactions like UBL Omni, Easypaisa or Mobicash, he added.
With the digital ticketing system, the passengers can book and pay for tickets from the comfort of their home by using computers or mobile phones, he said. Moreover, the digital system has increased the seat capitalization for the railways and decrease chances of corruption.
Everything is being handled electronically so tickets can be booked quickly and efficiently with no human interaction, he replied to a question.
The division also completed a number of projects to improve security, upgrade its system and facilitate the passengers.
The DCO said the renovation projects of ladies and gents waiting rooms, toilets, booking office at Platform No. 1 & 2 of Rawalpindi Railway Station for Kohat Railcar passengers was completed during last financial year.
A construction project of Tarnol Railway Station with erecting new boundary wall and watch towers at Rawalpindi Railway Station, boundary wall with barbed wire fencing at Rawalpindi Railway Station approach road to ensure the security of the Railway Station was completed a few months ago.
Under a project, solar panels were installed at gate signals/lamps and station signals of the entire division, he said adding, no more procurement of Kerosene oil since last two years.
Rawalpindi Reservation office was completely renovated while major stations of the division were also upgraded. Seven un-manned Railway level crossings in the division were upgraded to Class-II manned level crossings on the main line.
He further informed that latest LED lights were installed to improve the lighting system in yards, stations, and Railway colonies. Security gadgets were provided to the Railway police and CCTV cameras were also installed at Rawalpindi Railway station to improve security arrangements.
State-of-the-art car parking and security system adopted with best arrangements made to facilitate the passengers and visitors at Rawalpindi Railway station, he informed.

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Economy

Arab economic summit opens in Beirut

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BEIRUT: An economic development summit kicked off in the Lebanese capital Beirut today. 
Organized by the Arab League, the summit is attended by only three Arab leaders; Lebanon’s Michel Aoun, Qatar’s Sheikh Tamim bin Hamad Al-Thani and Mohamed Ould Abdel Aziz of Mauritania.
Most Arab states are represented at the summit by delegations at the ambassadorial level. Syria, whose Arab League membership has been suspended since 2011, and Libya are not taking part in the meeting.  The last Arab economic summit was held in the Saudi capital Riyadh in 2013.

 

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