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Islamabad

Review plea on Kr. anti-encroachment drive

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ISLAMABAD: Prime Minister Imran Khan Tuesday directed the Attorney General for Pakistan to file a review petition before the Supreme Court over its earlier orders on the anti-encroachment drive in Karachi.
The prime minister issued the directive during a meeting with Sindh Governor Imran Ismail, who called on him, PM Office media wing in a press release said.
During the meeting, the issue of ongoing anti-encroachment drive in Karachi was discussed.

 

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Islamabad

MBS visit: Monday will be holiday in Islamabad

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MBS visit: Monday will be holiday in Islamabad

ISLAMABAD: Monday (February 18) will be a holiday for Islamabadians as the district magistrate has announced a ‘no work’ activity across the federal capital ahead of Saudi Crown Prince Muhammad Bin Salman’s visit to the country.

The public holiday has been declared within the revenue limits of the Islamabad Capital Territory (ICT) for everyone but the offices of essential services.

These essential service offices include the MCI, CDA, ICT administration, ICT police, IESCO, SNGPL and hospitals.

MBS will arrive in the federal capital tomorrow (February 17) on a two-day visit following the invitation by Prime Minister Imran Khan.

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Education

Science and technology park in Islamabad

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Land record computerization in Islamabad 

ISLAMABAD: Ministry of Science and Technology is all set to establish Science & Technology Park here to provide modern facilities facilitating scientific research.

The Park would be established in the federal capital in collaboration with COMSATS University Islamabad (CUI), said an official while talking to the Media today.  The government, in this regard, has allocated Rs50 million,  the feasibility report of the project has been prepared by a renowned company.

Rector COMSATS University, Dr. Raheel Qamar held that Science and Technology Park would provide up-to-date facilities for scientific learning under one roof helping promote science and technology-related education. It would also help increase entrepreneurship across the country, he added. The project would be started soon as its feasibility report has been prepared.

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Economy

Single digit GST in next budget?

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Car Parking Plaza in F-8 Markaz

ISLAMABAD: ICCI  in a pre-budget consultative session on Saturday called upon the government to introduce single digit General Sales Tax in the next budget.

The session was organize to seek budget proposals from the local business community.  President ICCI Ahmed Hassan Moughal presided over the session while Rafat Farid Senior Vice President ICCI, Naeem Siddiqui Chairman ICCI Tax Committee, and others were also present at the occasion. Addressing the session, Ahmed Hassan Moughal, President ICCI said that the prevailing complicated and difficult tax system was a major hurdle in promoting tax culture and improving tax revenue. He urged that the government should develop a simplified tax system that should facilitate the growth of business activities and increasing tax revenue.  He said that tax rates were quite high in Pakistan that should be rationalized that would help in broadening tax net.

Rafat Farid Senior Vice President ICCI said that there were different tax rates at federation and provinces that were creating problems for the business community and emphasized that the government should introduce a uniform tax system across the country.  He said the government should ensure better benefits, incentives, and respect for taxpayers that would help in expanding the tax base in the country.  He said billions of rupees of taxpayers were stuck up with FBR and industry was facing liquidity issues and urged that government should evolve a streamlined refunds clearances process. Naeem Siddiqui, Chairman ICCI Tax Committee said that GST in Pakistan quite high that was a major hurdle in promoting business activities and emphasized that government should bring it down to single digit level in next budget. 

He said the number of taxes should be minimized to ease the problems of taxpayers. He said Commissioner Appeal should be made independent from FBR to ensure justice in tax disputes.  He said FBR should shun the practice of bank attachments without intimation to taxpayers as it was creating harassment in the business community. The participants said that FBR has increased proper value vide SRO-117(1)/2019 and government should reduce the tax on sale/purchase of property from 2% to 1% for non-filers and from 1% to 0.5% for filers.  They said that SBP has banned advance payment for imports that was affecting business activities and stressed that this ban should be lifted forthwith.  They were of the view that the government should impose a tax on profits and not on revenue of business as tax should be only on income. They said FBR should streamline its audit process and audit of a business should be after 3-5 years.

 

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