Day: November 10, 2021

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Will Rizwan and Malik Miss Pakistan’s Semi-Final Against Australia?

Pakistan’s opener, Mohammad Rizwan, and middle-order batter, Shoaib Malik, are suffering from flu ahead of the semi-final clash against Australia. Renowned cricket journalist, Saj Sadiq, revealed this in a Twitter post earlier today.

According to the report, both the star cricketers did not participate in Pakistan’s training session held today in Dubai. While the fans worry about the duo’s participation in the big match, team management is hopeful that both the players will be fit for the clash against Australia.

It further added that the players got tested for COVID-19, however, the results came negative much to the relief of the Pakistani fans. The final decision on their inclusion will be taken before the match and if they are declared unfit for the semi-final, it will be a huge blow for the Pakistan cricket team.

Considering Pakistan have gone with the same team in all of the 5 matches, it will be a big challenge to balance the team combination for the high-octane clash. If the duo misses out, Haider Ali and Sarfaraz Ahmed will slot into the playing XI.

Pakistan will lock horns with Australia at 7 pm Pakistan Standard Time on Thursday. The winner of the match will face New Zealand as they defeated England in today’s semi-final in Abu Dhabi. The Kiwis have qualified for the final of the T20 World Cup for the first time ever.

Source: Pro Pakistani

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Will Rizwan and Malik Miss Pakistan’s Semi-Final Against Australia?

Pakistan’s opener, Mohammad Rizwan, and middle-order batter, Shoaib Malik, are suffering from flu ahead of the semi-final clash against Australia. Renowned cricket journalist, Saj Sadiq, revealed this in a Twitter post earlier today.

According to the report, both the star cricketers did not participate in Pakistan’s training session held today in Dubai. While the fans worry about the duo’s participation in the big match, team management is hopeful that both the players will be fit for the clash against Australia.

It further added that the players got tested for COVID-19, however, the results came negative much to the relief of the Pakistani fans. The final decision on their inclusion will be taken before the match and if they are declared unfit for the semi-final, it will be a huge blow for the Pakistan cricket team.

Considering Pakistan have gone with the same team in all of the 5 matches, it will be a big challenge to balance the team combination for the high-octane clash. If the duo misses out, Haider Ali and Sarfaraz Ahmed will slot into the playing XI.

Pakistan will lock horns with Australia at 7 pm Pakistan Standard Time on Thursday. The winner of the match will face New Zealand as they defeated England in today’s semi-final in Abu Dhabi. The Kiwis have qualified for the final of the T20 World Cup for the first time ever.

Source: Pro Pakistani

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Ex Indian Cricketer Picks Babar as Captain of World Cup Team of the Tournament

Former Indian wicket-keeper, Dinesh Karthik, has picked Pakistan’s star batter, Babar Azam, as the captain for his team of the tournament for the 2021 T20 World Cup. The 11-man squad also included Pakistan’s left-arm pacer, Shaheen Afridi who wreaked havoc on the Indian batting unit in Pakistan’s first match of the tournament.

Babar is currently the highest run-scorer in the tournament having scored 264 runs in five matches so far. His magnificent run of form in the tournament includes four half-centuries in the five innings he has played so far.

England’s explosive wicket-keeper batter, Jos Buttler, was picked as Babar’s opening partner while the middle-order consisted of South Africa’s Rassie Van der Dussen, Sri Lanka’s Charith Asalanka, and Bangladesh’s Shakib Al Hasan.

Jasprit Bumrah was the only Indian that made his way into Karthik’s team of the tournament who was picked alongside New Zealand’s Trent Boult and Australia’s Adam Zampa to make up a fearsome bowling unit. Sri Lanka’s Wanindu Hasaranga and England’s Moeen Ali were picked as the all-rounders in the team.

Source: Pro Pakistani

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FTO Hails Law Ministry’s Proposal to Expand Its Jurisdiction to GB

The Ministry of Law and Justice has come up with a proposal of expanding the jurisdiction of the Federal Tax Ombudsman (FTO) office to Gilgit-Baltistan (GB) to mitigate the sense of deprivation in the local population and further consolidate their belief in the efforts for good governance by the federation.

According to details, the Law Ministry has recently proposed a memorandum regarding the “Adaptation of Federal Tax Ombudsman Ordinance, 2000 in Gilgit-Baltistan” to the Ministry of Kashmir Affairs for placing the proposal before the Kashmir Council mandated as per the rules of business. This step is anticipated to strengthen in them a sense of belonging and a trust in good governance by the federation.

The enforcement of the FTO jurisdiction in GB is envisioned to be beneficial in redressing the grievances emanating from the tax-related issues over there and providing a means of good governance to the residents.

Appreciating the move, the FTO has stated that Customs formations are already functioning in the form of a Collectorate and a dry port in Sust, at Khunjerab Pass, in the region.

It is further hoped that the expected conversion of Skardu Airport into an international airport will further enhance the role of tax authorities in GB. Thus, the institution of FTO is expected to play a constructive role in ensuring good governance on the part of relevant public functionaries in GB.

Source: Pro Pakistani

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Here are the Pakistani Players Picked for Lanka Premier League

With the Lanka Premier League 2021 just under a month away, the five franchises taking part in the competition have finalized their squads for the tournament. The draft for the tournament was held on Tuesday as the five franchises which include Colombo Stars, Dambulla Giants, Galle Gladiators, Jaffna Kings, and Kandy Warriors acquired the services of some of the biggest stars in T20 cricket.

The likes of Chris Gayle, Faf du Plessis, and Imran Tahir alongside some of the top stars from Pakistan will be taking part in the tournament. A total of 10 Pakistani players which include superstars such as Mohammad Hafeez, Mohammad Amir, Wahab Riaz, and Shoaib Malik have been picked up by various franchises in the star-studded competition.

The second edition of the LPL is set to commence from 5 December with the final scheduled to take place on 23 December. The competition will be held at two venues, Colombo and Hambantota.

The first edition of the tournament was won by Jaffna Stallions (now known as Kings) as they defeated Galle Gladiators by 53 runs in the final of the tournament. Shoaib Malik and Usman Shinwari were both part of the title-winning squad.

Source: Pro Pakistani

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Former South African Captain Picks Pakistan as Favorites for T20 World Cup Title

Former South African captain, Faf du Plessis believes that Pakistan are the favorites for the 2021 T20 World Cup. du Plessis said that while Pakistan are the favorites, however, he wants New Zealand to lift their first World Cup title.

du Plessis said that Kiwis have come close to winning the World Cup on multiple occasions recently and he hopes that they can lift the title this time around. Kiwis face England in the semi-final of the tournament in Abu Dhabi on Wednesday.

Pakistan, on the other hand, will face Australia in the second semi-final which is set to be played in Dubai on Thursday. The Men in Green have been the most consistent side in the tournament, winning all five of their Super 12s matches. Australia have won four out five games as they lost to arch-rivals England in their only loss of the tournament.

du Plessis’ South Africa were knocked out in the Super 12s stage after having an inferior run rate to England and Australia. du Plessis, who was not selected in the squad for the mega event, revealed that he did not expect to be the part of the squad after he was snubbed from the squad for the series against Sri Lanka prior to the start of the tournament.

The 37-year old said that he was hopeful of getting into the squad after formidable performances in the recently concluded Indian Premier League.

Source: Pro Pakistani

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CDC Launches Pakistan’s First-ever Professional Clearing Member with PSX and NCCPL

The Central Depository Company has launched Pakistan’s first Professional Clearing Member in collaboration with the Pakistan Stock Exchange and the National Clearing Company of Pakistan Limited under the Regulatory Impetus of the Securities & Exchange Commission of Pakistan.

Around 25 Trading Only Brokers have signed up for the services of the new Professional Clearing Member (PCM). The new regime will be completely implemented by December and all the Trading Only Brokers will start using the PCM’s services by shifting their clearing, settlement, and custody functions to the PCM.

The new PCM regime has been successfully implemented after the introduction of a relevant regulatory framework by the Securities & Exchange Commission of Pakistan (SECP) and capital market infrastructure entities, leading to the launch of EClear Services Limited (ESL).

The SECP had tasked all the three SROs (the CDC, the PSX, and the NCCPL) in the Capital Market with implementing this novel concept in Pakistan, and the CDC was assigned with leading the implementation as Project Manager.

Also known internationally as the General Clearing Member (GCM), the PCM is an international best practice of ‘Third Party Clearing’ service provider whereby an entity (normally not a trading member of the Exchange), provides clearing and custodial services to the trading members of the Exchange, who either voluntarily or by virtue of the Regulatory framework do not act as Clearing Members of the Clearinghouse.

The SECP introduced the new Broker Regime under the Securities Brokers (Licensing & Operations) Regulations in 2020 to categorize securities brokers into three categories: Trading & Clearing, Trading & Self Clearing, and Trading Only. One of the major requirements for the implementation of the new Broker Regime was the introduction of an independent third party Custodial, Clearing & Settlement service provider for the clearing and settlement of the trades executed by Trading Only Brokers.

This hi-tech solution will bring automation, efficiency, and transparency for the existing market players and will pave the way for newcomers in Pakistan’s capital market as brokerage service providers and investors.

This initiative will also expand the investor base of the Pakistan capital market as it will provide investors with a completely new and digital experience of the capital market while giving them the confidence of asset protection by a reliable and independent third-party service provider. Hence, with the implementation of this regime, Pakistan’s capital market is poised to stand on par with the established markets, particularly in terms of investor protection and ease of doing business.

Source: Pro Pakistani

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Pakistan’s Tax-To-GDP Drops to 9.9% During the Pandemic

The Federal Board of Revenue (FBR) suffered a blow to its tax-to-GDP ratio in the fiscal year 2021 as the economy slowed down due to the pandemic.

FBR’s new report puts the tax-to-GDP ratio at 9.9 percent. However, the Board took timely short- and long-term decisions to mitigate the negative effects of COVID-19.

Provinces made a meager contribution of 1.0 percent only, pushing the tax-to-GDP ratio to around 11 percent in the fiscal year 2021. The tax-to-GDP is expected to grow in the fiscal year 2022 due to an improvement in revenue collection during the first half of the ongoing year.

According to the report, provincial tax-to-GDP is around 1 percent for the previous eight years.

Analysis of breakdown of tax-to-GDP ratio highlights the sales tax and direct taxes are the primary contributors, after smaller shares from custom revenues and FED.

Reasons for the low tax-to-GDP ratio can vary from country to country. However, some of the general variables that play a key role in increasing the tax-to-GDP ratio include transaction documentation, sensible economic policies, efficient taxation structure, targeted fiscal policies, automation, and effective use of IT.

Similarly, improved taxation, along with efficient expenditure management, are critical for the economic growth and stabilization of a country, according to the World Bank.

Further, in the long term, governments must rely on an effective tax system to satisfy the demands of the public sector. Another research emphasizes a significant relationship between effective governance, a thriving economy, and tax revenues, concluding that governance is important in increasing tax revenues.

Source: Pro Pakistani