Day: January 11, 2022

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FBR Introduces Measures to Make Duty Drawback Foolproof

The Federal Board of Revenue (FBR) has introduced a mandatory requirement of six documents for the claim of duty drawbacks on local supplies, free of duty imports, and taxes to avoid any misuse of the facility.

The FBR issued an amendment draft in Customs act to make the process of the claim of duty drawback foolproof.

In the amendment draft, it has been suggested that almost six documents will be required to claim duty drawback. The draft states, “Documents required for claims of duty drawback on local supplies made against the international tender or for supply to industrial units, projects, institutions, agencies and organizations, entitled to import free of duty and taxes shall include a copy of advertisement calling for international tenders, copy of contract, sales tax invoice, freight or carriage bill like bilty; certificate of receipt of goods by the buyer agency or institution and proof of receipt of sales proceeds or funds in foreign exchange into SBP in case of supplies involving foreign exchange component in procurement or bank statement showing receipt of funds (local currency) from the buyer.”

It is pertinent to mention that several cases of fake duty drawback claims have been observed by FBR.

The draft further states, “Exported goods mean exported item to any foreign country including Export Processing Zone in Pakistan or for supplies against international tenders, or for supply to industrial units, projects, institutions, agencies and organizations, entitled to import at concessionary rates.”

The Collector of Customs with jurisdiction on the area where the unit is registered shall process such Duty Draw Back Claims.

Source: Pro Pakistani

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Finance Minister Vows to Dismiss SBP Governor If He Goes Against Govt

The Federal Minister for Finance and Revenue, Shaukat Tarin, has said that he will dismiss the Governor State Bank of Pakistan if he did not support the government in economic matters after the approval of the SBP Amendment Bill.

The Minister of Finance along with Information Minister, Fawad Chaudhry, Energy Minister, Hammad Azhar, Dr. Faisal Sultan, and Governor SBP informed the media about the Finance Bill as well as SBP Amendment Bill at Punjab House

He underscored that the government would reduce the powers of the central bank with a simple majority of parliament if they do not obey the federal government’s instructions.

He once again made it clear that the federal government would still hold some control over SBP after the passage of the SBP (Amendment) Bill, 2021. He also clarified that the federal government would appoint and approve the board of the SBP including Governor and Deputy Governor, who would be answerable to the parliament.

He said that the basic purpose of the Finance Supplementary Bill, 2021 is to document the economy instead of revenue generation. The government would refund Rs. 280 billion out of Rs. 343 billion tax exemptions withdrawn.

He added that government would give subsidies on solar panels and laptops instead of withdrawing taxes. He clarified that the government has not taxed fertilizers, pesticides, tractors, and food items.

Source: Pro Pakistani

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Askari Bank’s Subsidiary to Merge With Foundation Securities

Askari Securities Limited, a subsidiary of Askari Bank Limited, will get merged with Foundation Securities Limited, a subsidiary of Fauji Foundation.

According to stock filing, the Board of Directors of Askari Bank Limited, Askari Securities Limited, and Foundation Securities Pvt Limited have resolved for the amalgamation of Askari Securities Limited into Foundation Securities Pvt Limited, subject to necessary regulatory approvals and endorsements by the stakeholders.

By the effect of the amalgamation, the complete undertaking of Askari Securities Limited will be transferred and come to vest into Foundation Securities Pvt Limited together with all properties, assets, liabilities, and obligations of every description.

Also, the shares of Askari Securities Limited will be canceled and for each share held in Askari Securities Limited by Askari Securities Limited as a holder of 100% of shares thereof, 27,140,000 shares of Foundation Securities Limited will be issued to Askari Securities Limited i.e. for every one (1) ordinary share of Askari Securities Limited of Rs. 10 held by Askari Securities Limited, 1.18 ordinary shares of Foundation Securities Limited of Rs. 10 each will be allotted to Askari Securities Limited. Askari Securities Limited will then dissolve without winding up, the notice said.

The merger of the two securities companies will enhance the performance of the merged company which will benefit the associated companies of the group and main sponsor, Fauji Foundation Limited.

Source: Pro Pakistani

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Prime Minister terms settlement of Thor & Harban tribes’ dispute historic development

Prime Minister Imran Khan says settlement of decades-old Thor and Harban tribes’ dispute by Grand Jirga of Diamer and Upper Kohistan elders is a historic development and good news on Diamer Bhasha Dam.

In a tweet on Tuesday, he said this will allow smooth and timely completion of Dam as well as pave way for settlement of boundary dispute between Gilgit Baltistan and Khyber Pakhtunkhwa.

Source: Radio Pakistan

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PCB Announces Squads for National U13 and U16 Tournaments

A total of 270 boys from across the country will be engaged in National U13 and National U16 tournaments in Karachi and Multan from Friday, 14 January.

The participating players will have a massive and unprecedented incentive to pursue during the tournament as up to 40 top performers from the two events will secure year-long contracts with monthly retainers.

As these youngsters have the potential to become future stars and win games for Pakistan, the PCB will be investing in them at an early age to secure them financially while also developing their complete personality, including cricketing skills, and providing education to them.

The players will be coached by a panel of high-performance coaches in summer camps at the NHPC Lahore and academies across the country. Academic scholarships will also be provided to these players.

Twelve teams will participate in the National U16 One-Day Tournament 2021-22 (45 overs) which will be played at five venues in Multan from 14 to 25 January. The teams have been divided into two pools with all six Cricket Associations fielding two sides (one in each pool).

Balochistan, Central Punjab, Khyber Pakhtunkhwa, Northern, Sindh, and Southern Punjab Whites will form Pool A while Balochistan, Central Punjab, Khyber Pakhtunkhwa, Northern, Sindh, and Southern Punjab Blues will constitute Pool B.

The final will be played at the Multan Cricket Stadium on 25 January.

Six teams will participate in the National U13 One-Day Tournament 2021-22 (25 overs) which will be played at three venues in Karachi from 14 to 24 January.

One side each from Balochistan, Central Punjab, Khyber Pakhtunkhwa, Northern, Sindh and Southern Punjab will compete in the group stage, each team will play the other once in the round-robin format.

The top sides will proceed to compete in the 24 January final which will be played at the UBL Sports Complex, Karachi.

National U13 One-Day Tournament Squads:

Balochistan: Abu Bakar, Adnan Ahmed, Ahsan Ullah, Asim Ur Rehman, Faiq Ali, Hamza Khan, Ikram Ullah, Khan Wali, Malik Awais, Muhammad Asif, Muhammad Dawood, Muhammad Irfan, Muhammad Suleman , Saleem Jan, Tufail Ahmed

Central Punjab: Arham Danish, Asad Naeem, Awais Zubair, Fasih Tousaeef, Hassan Ashraf, Hussnain Abbas, Muhammad Ali Sabir, Muhammad Essa Baloch, Rayyan Arshad, Sajjid Mir, Sarmad Nawaz, Sayyar Khan, Taj Muhammad, Ubaid Ullah, Zaryan Ali

Khyber Pakhtunkhwa: Abdullah, Adnan Khan, Akbar Ali, Atta Ullah, Ikram Ullah, Mohammad Sohail, Muhammad Adeel Khan, Muhammad Talha, Nafees Akhtar, Naveed, Rizwan Ali, Saeed Afridi, Shazad Ahmed, Shoaib, Zain Ul Abideen

Northern: Abdul Ahad, Abdul Munim, Abu Bakar Minhas, Akhtar Gull, Bilal Bashir, M. Asad Abdullah, M. Ismail Ranjha, M. Yousaf, Malik Muhammad Khizar, Muhammad Muneeb, Muhammad Musa Hasan, Muhammad Sohaib, Muhammad Zohaib Abbas, Saad Abraiz Abbasi, Salar Nazeer

Sindh: Abdul Hayee, Abdul Wahab, Abdullah (Sr), Adnan Nawaz, Ahsan Khan, Ali Sher, Ghulam Ahmed, Hammad Alam, Kifayat Ullah, M. Abdullah Javed, Muhammad Anas, Muhammad Azaan, Muhammad Khan, Sheikh Intiysaam, Syed Mohtashim

Southern Punjab: Abdullah Latif, Abdur Rehman, Ali Haider, Faizan Riyasat, Hasnain Sajid, Hayat Khan, M.Abdullah, M.Babar Arshad, M.Huzaifa, M.Qasim Ahmad, M.Usman, Maaz Ahmed, Mohsin Malik, Muhammad Umar, Talal Ahmed Khan

National U16 One-Day Tournament 2021-22 Squads:

Balochistan Blues: Abdul Saboor, Anwar Shah, Bakhtiyar Khan, Gohar Khan, Hafeez Ullah, Innam Ullah, Mubashir Shah, Muhammad Adil, Muhammad Ali, Muhammad Asfand, Musharaf Hussain, Sumair Ahmed, Syed Yasir Shah, Talha Shakir, Zohaib Khan

Balochistan Whites: Arslan Khan, Aurangzeb, Ayaz Gul, Eshrat Ul Ibbad, Faisal Razzaq, Imran Sadiq, Muhammad Shahid, Muhammad Umar, Muzamil Ali, Shehariyar Ahmed, Siraj Ahmed, Syed Waqas Ahmed, Umair Ahmed, Usman Ghani, Zakir Shah

Central Punjab Blues: Ali Hamza, Ali Raza, Areeb Arif, Faraz Ahmed, Farhan Yousaf, Ghulam Haider, Hamza Zahoor, Hunain Amir, M.Hammad Asif, Mohsin Ali, Momin Qamar, Muhammad Saim, Muhammad Usman, Obaid Shahid, Rana M.Sarfaraz Tariq

Central Punjab Whites: Aaliyan Suleman, Abu Suffiyan , Ahmed Yaar Khan, Ali Hasan Baloch, Ali Hassan , Ali Raza, Arslan Riz, Danish Saeed, Faham Ul Haq, Kaif Ali, M. Tayyab, M. Tayyab Arif, M. Yasin Bilal, Nauman Ali, Shahbaz Javaid

Khyber Pakhtunkhwa Blues: Abdul Raheem, Abdur Rehman, Ahmed Hussain, Asfandyar, Hamza Izhar, Luqman Khan, M Umair Khan, Mian Yousaf Shah, Muhammad Ali, Shahzeb Khan, Usama Khan, Usman Khan, Zain Shah, Zubair Ahmed, Zulkarnain

Khyber Pakhtunkhwa Whites: Abeel Khan, Adil Waheed, Ilham Khan, Khubib Khalil, M Awais, M Shayan, M.Ansar Ullah, M.Shoaib, Muhammad Haroon, Muhammad Umer, Muhammad Zubair, Naveed Ul Hassan, Riaz Ullah, Shayan, Usama Bangash

Northern Blues: Abbas Hussnain, Abu Zar, Bilal Ahmed, Hassan Ijaz, M. Hassan Khan, M.Waleed Iqbal, M.Zain Jameel, Muhammad Arshad, Muhammad Asim Kamal, Muhammad Bilal, Muhammad Nabeel, Murtaza Rehman, Raja Hamza Waheed, Shameer Ali, Syed Ali Mehdi

Northern Whites: Abdullah, Ali Ashfaq, Arsh Zaman, Arslan Ali, Awais Amin, Azaan Kabir, Hussnain Nadeem, Irshad Ahmed, M.Ammar Yasir, Muhammad Abdullah Sajid, Muhammad Ahmed, Muhammad Asmat Ullah, Shahbaz Khan Hurara, Shahmeer Nisar, Yazdaan Abbas Rizvi

Sindh Blues: Abdul Hadi, Abdul Moiz, Ahmed Muhiuddin, Farhan Zaman, Hameed Karim, Huzaifa Ahsan, M. Talha Khanji, Mawaz Zahid, Musa Azad, Naveed Ahmed Khan, Saad Baig, Saad Mahboob, Saif Ullah Khan, Sufyan Usmani, Yahya Shah

Sindh Whites: Abdul Rehman Khan, Haroon Arshad, Humza Qureshi, M Danish, M. Ahmed, Maaz Shah, Musab Ahmed, Nauman Ali, Owais Rehem Shah, Sajam Muhammad, Shahzad Khan, Shahzaib Ali, Shiraz Khan, Syed Rehan Ali Shah, Wajid Ali

Southern Punjab Blues: Haseeb Javed, Inam Ullah, M.Abdullah, M.Aqib Arshad, M.Jan Sher, M.Saqib, Muhammad Ahmed, Raja Shehroz, Rana Adeel Mushtaq, Sameer Ahmed Minhas, Sameer Akhtar, Shahzad Ahmed, Suleman Ahmed, Waleed Raza, Zain Arshad

Southern Punjab Whites: Abdul Rasool, Abdullah Tauqeer, Ali Husnain Badshah, Bilal Khan, Fahad Kashif, Haseeb Ahmed, M.Farhan, M.Hamid, M.Noman Asif, M.Umair, Rana Haseeb Nazim, Rao Kaleem Haider, Shahaz Saeed, Sohaib Akram, Taha Shabbir.

Source: Pro Pakistani

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England’s Gloucestershire County Club Signs Naseem Shah for All Formats

Gloucestershire Cricket has announced the signing of Pakistan pace bowler, Naseem Shah.

The 18-year-old rising star of the international game will be available to play in all formats of cricket for The Shire for the first few months of the 2022 season, up until the end of the Club’s participation in the T20 Vitality Blast tournament group stages. If Naseem, however, is called up for international duty from June onwards, he will be released back to Pakistan for participation with his national team.

As an exciting talent, Shah has already played in nine Test matches for Pakistan since making his debut against Australia in 2019, aged 16, in a match that saw him claim the wicket of David Warner. Just a month after making his debut, Shah became the second-youngest player in history to take a five-wicket haul in a single inning, with 5/31 against Sri Lanka.

In summer 2020 Shah was then included in Pakistan’s squad for their tour of England. Featuring in the first Test match at Old Trafford, which England won by three wickets, Shah finished on 1/44 with a bowling economy of 2.75 in the first innings, taking the wicket of Ollie Pope in the process, before he dismissed England captain Joe Root in the second innings. In the third Test match in Southampton, a terrific delivery from Shah had Root caught behind by Mohammad Rizwan.

Shah’s last Test appearance for Pakistan was against New Zealand in January 2021, and he also featured for Pakistan A during the team’s tour of Sri Lanka in October and November last year. The right-arm fast bowler played in two Tests and an ODI against Sri Lanka A and finished the tour with standout figures of 5/53, 4/28, and 2/26 from the three fixtures.

Speaking of his delight at signing for Glos, Naseem Shah said, “I’m extremely happy to be joining Gloucestershire and can’t wait to experience playing in English cricket for the first time. I’m excited for what we can achieve as a team next season and will use all my skills to help Gloucestershire challenge for silverware across all formats.”

Shah is the fifth player to sign for The Shire since the end of the 2021 season and he will link up with the playing squad, including fellow new additions Marcus Harris, Ajeet Singh Dale, Paul van Meekeren and Zafar Gohar for pre-season training.

Most recently Shah took part in two tournaments in Pakistan with Southern Punjab; the National T20 Cup competition in October and November as well as the Quaid-e-Azam Trophy in December.

Steve Snell, Performance Director at Gloucestershire Cricket, said, “Naseem Shah is a fantastic talent and we’re thrilled that he’s decided to come and join us for next season. Naseem will bring further depth to our pace bowling department and will provide exciting competition for places in our seam bowling ranks. I have heard fantastic things about Naseem’s attitude and his willingness to stand up in the tough moments in games. I’ve got no doubt that Naseem, with the quality he has, will give us a great chance of achieving success.”

Source: Pro Pakistani

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Shahid Afridi Dubs Opener Ahmed Shehzad as a ‘Good Choice’ for Pakistan

Star all-rounder Shahid Khan Afridi has opened up on the future of top-order batter, Ahmed Shehzad. While speaking on Samaa TV, Afridi said he was hopeful that the right-handed batter can still make a comeback in the national team.

“Ahmed Shehzad has played a lot of cricket and I say this that if Pakistan team has an option for an opener, then Ahmed is a very good choice,” Afridi said.

He, however, mentioned that Shehzad will need to perform consistently to make a comeback, as the competition in the top order is tougher than ever.

Afridi, who last batted alongside Pakistan opener for Rawalakot Hawks in the Kashmir Premier League (LPL), said that Shehzad looked positive in his intent, which was missing from his batting in previous years.

“He played a few innings alongside me in the KPL and he was outstanding. He looked very positive and that was something which I didn’t see in his batting for long. He was taking too much pressure previously. But when he plays his natural game, which is his strength, he performs really well.”

The former Pakistan captain said that every franchise holds an opinion about Ahmed and Umar Akmal. He said he had noticed a few changes in Shehzad, but believed that he needed to make a lot of adjustments to be able to make a comeback.

“The good thing is that he is working hard and focusing on cricket which was missing. I hope that he will get a chance in the future and he will have to perform brilliantly in order to get noticed,” he added.

Source: Pro Pakistani

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Islamabad United’s Twitter Handle Crosses 1 Million Followers

Two-time Pakistan Super League (PSL) champions, Islamabad United is the most successful franchise in the country and one of the most exciting T20 teams around the world. While Islamabad is already an exciting team on the field, they are also one of the most popular franchises in the country off the field.

Islamabad United recently became one of four franchises in the country to achieve over 1 million followers on the popular social media platform, Twitter. Peshawar Zalmi, Quetta Gladiators, and Lahore Qalandars are the other three franchises that have gained over 1 million followers on Twitter.

The Red Hot Squad are considered as strong favorites for the upcoming seventh edition of PSL. Their squad is regarded as one of the strongest in the tournament and they have a good chance of winning their third title this time around.

Islamabad will face Peshawar Zalmi on 30 January in their first match of the campaign. They will be determined to overcome a disappointing loss in the play-offs last time around and take home the PSL 2022 title.

Source: Pro Pakistani