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Economy

Fin Bill: Senate’s recommendations

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Govt. increases duties to cut imports

ISLAMABAD: The Senate today adopted recommendations of its Standing Committee on Finance, Revenue  & Economic Affairs that three percent share of National Finance Commission Award should  be given to erstwhile FATA

An interim relief allowance of ten percent of basic salary might be granted to all government employees, keeping in view current price hike in the country. Chairman Standing Committee on Finance, Revenue, and Economic Affairs Niaz H Naek presented the report of the Standing Committee on the Finance Supplementary (Second Amendment Bill), 2019 in the House. The Senate recommended to the National Assembly that tax on coal being extracted from the province of Balochistan should be reduced in view of the difficulties and overhead expenditure in extracting coal from the mines of the province.

The Senate also proposed that Rs 5 billion should be released by 30 June 2019, to the province of  Balochistan for construction of the Check and Small dams in the province. The House also recommended that the customs duty on Crude Degummed Soy Oil (CDSO) be increased to Rs15000 metric tonne in order to bring it in line with its replacement products and support local production of those products. It also proposed that the government should continue to impose a regulatory duty on export of recycled materials like lead under Duty and Tax Remission for Exporters (DTRE) scheme for not allowing Pakistan as dumping ground for hazardous metals from all around the world. The Senate also recommended that the government should devise an immediate claim release mechanism to support non-textile exporters.

The House also recommended that in order to improve the existing infrastructure of Sui gas and electrical lines in district Haripur, an allocation of Rs 100 million should be made. It also recommended that a 132 MW grid station should be established in district Kohistan at the earliest to meet the increasing demands of power consumption, besides meeting the demand of  Dasu and Rai Kot for power consumption. The House recommended that the road should be widened from Havelian to Abbottabad as soon as possible in order to avoid extreme road blockage causing inconvenience to the general public. The Senate further proposed that the construction process of Motorway from Shah Maqsood to Thakot should be completed and opened for general public.

It proposed to the National Assembly that work on Babusur Tunnel as announced by the former the prime minister should be completed at the earliest. The Senate recommended the completion of New Gwadar airport at the earliest. The House also proposed that low capacity Hydel projects, producing one to four megawatts in Khyber Pakhtunkhwa and throughout the Northern Areas, besides upgradation of the electricity supply system in the Hattar  The industrial estate that generates about Rs 70 billion tax. The Senate recommended to the National Assembly that an allocation of Rs 300 million should be made for the year 2018-19 in respect of Naltar Expressway Gilgit, having a cost of Rs 2626.872  million. The Senate recommended that an allocation of Rs 200 million for the year 2018-19 should be made in respect of 50-bed Cardiac Hospital, Gilgit, having a cost of Rs 1513.304 million.

 

 

 

 

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Business

Rawalpindi CPO visits Ramazan Sasta Bazaar 

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Mall road to remain closed on 6th Sept

RAWALPINDI: City Police Officer (CPO) Capt (R) Muhammad Faisal Rana visited Ramazan Sasta Bazaar set up in Chungi no 22 to review the security arrangements, informed police spokesman here Tuesday.
CPO termed the security arrangements satisfactory, he directed to further enhance the security of Bazaars, mosques, Imambargahs and worship places to protect the people during the sacred month.
He directed the police officers to curb crime and to provide foolproof security to the masses during Ramazan.
He made it clear that it was the prime duty of the police to protect the lives and properties of the people.
He said that strict action would be taken against those who found negligent in performing their duties.

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Crime

SC dismisses NAB appeal against acquittal of accused

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NAB arrests Coop Society Chairman

ISLAMABAD: The Supreme Court on Tuesday dismissed the National Accountability Bureau’s (NAB) plea against acquittal of a bank cashier in a corruption case.
The trial court had awarded some 30 months imprisonment to a local bank cashier Sabir in 2008 over allegations of corruption and a failed attempt of robbery in the bank in 2004. The accused remained in jail for 34 months, four months extra in jail when he was acquitted by the Peshawar High Court (PHC) for lack of evidence. Later, NAB challenged his acquittal in the SC.
A three-member SC bench by Chief Justice Asif Saeed Khan Khosa and comprising Justice Sardar Tariq Masood and Justice Mazhar Alam Khan Miankhel, which heard the case, maintained the PHC verdict dismissing NAB’s appeal.
During the course of proceedings, the chief justice remarked that according to the high court verdict there was no solid evidence against the accused. He observed that bank branches prepared cash balance sheets on a daily basis.

 

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Economy

Sensitizing expats about welfare initiatives

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ISLAMABAD: Senate Standing Committee on Overseas Pakistanis Tuesday formed a sub-committee to devise a strategy for sensitizing the Pakistani Diaspora about the modus operandi being opted for their welfare initiatives.
The sub-committee will not only review the measures being taken for the expatriates by the departments working under the auspices of Ministry of Overseas Pakistanis and Human Resource Development but also give recommendations to make them familiar about their welfare initiatives.
The body was met here with Senator Shaheen Khalid Butt, who convened the meeting in place of chairman committee Hilal-ur-Rehman, in the chair to evaluate the performance of Overseas Pakistanis Foundation (OPF).
Describing the Pakistani Diaspora as the country’s precious asset Shaheen Khalid said the protection of their rights and better provision of facilities to them was the responsibility of the state.
He said the efficiency of OPF could be improved by informing this community about their rights and facilities offering by their motherland.
OPF Managing Director (MD) Dr. Amir Sheikh apprised the committee that the foundation was taking numerous steps for the expatriates including financial assistance in the welfare sector, facilitation counter at national airports, repatriation of expired overseas Pakistanis, the establishment of fast-track courts for swift grievance redressal and others.
He said the OPF was embracing modern technologies and using social media to ensure connectivity between the government and the Pakistani Diaspora, admitting that a communication gap still exists between them.
The Secretary Overseas division briefed about the punishment status of Abdur Rehman, a Pakistani national, who was facing a death sentence on the order of Malaysian Supreme Court. He said the government could either apply for Royal apology or file a review petition in Malaysia for his acquittal, adding it was the choice of convict’s family to go for any available option.  Abdur Rehman’s father was also invited to the committee to present his son’s case before the committee.

 

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