Day: April 8, 2023

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ICCI urges Govt to resolve tax issues of furniture industry

Islamabad, April 08, 2023 (PPI-OT) :Engr. Muhammad Azhar ul Islam Zafar, Vice President, Islamabad Chamber of Commerce and Industry (ICCI) said that Pakistan has great potential to enhance the exports of furniture products by focusing on the furniture industry and urged that the government should resolve tax issues of this industry to facilitate its better growth.

He said that tax authorities and field formations of FBR are issuing notices to furniture showrooms/shops to register as Tier-1 retailers, which is not practicable for all furniture businesses and urged that the furniture showrooms/shops covering area less than 2000 square feet should be exempted from sales tax registration to ease their problems. He said this while addressing a delegation of Pakistan Furniture Association that visited ICCI led by its Chairman Zahid Hussain. Mian Muhammad Ramzan Convener ICCI Tax Committee, Khalid Chaudhry former Senior Vice President ICCI and others were present at the occasion.

Engr. Muhammad Azhar ul Islam Zafar said that the small furniture retailers should not be subjected to Sub-Sec-43A of Sec-2 of Sales Tax Act 1990 as they purchase furniture from unregistered manufacturers of the cottage industry and cannot provide input invoices. He said that those retailers who occupy even one square foot less area than 2000 sq. ft. are exempted, which creates an anomaly. He assured that ICCI would cooperate with the Pakistan Furniture Association in resolving key issues of the furniture industry.

Speaking at the occasion, Zahid Hussain, Chairman, Pakistan Furniture Association stressed that the government should introduce fixed sales tax of Rs.5000/month for furniture showrooms/shops covering area of above 2000 sq. ft. up to 5000 sq ft., Rs. 10,000/month for showrooms/shops covering area of above 5000 sq. ft. up to 10,000 sq. ft and Rs.15000/month for showrooms/shops covering area of above 10,000 sq. ft up to 15,000 sq. ft. He said that such a fixed tax regime would protect the furniture businesses from unnecessary harassment and facilitate better growth of their business activities.

Mian Muhammad Ramzan, Convener, ICCI Tax Committee said that the furniture showrooms/shops which are not part of a national or international chain store nor are they located in air-conditioned malls, should be excluded from the category of Sub-Sec-43-A of Sec-2 of Sales Tax Act 1990 and should be declared as cottage industry with inclusion in Tier-2 regime.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

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Savyour inks MoU with Indus Hospital and Health Network

Islamabad, April 08, 2023 (PPI-OT): Savyour – Pakistan’s leading cashback and consumer rewards platform and Indus Hospital and Health Network (IHHN) have inked an MoU, in a bid to support the latter’s mission of providing free-of-cost, quality healthcare to the underserved people of Pakistan. The signing ceremony was held at Indus Hospital Karachi.

As part of its Salam Ramadan campaign, Savyour will match and donate the total cashback amount earned by its consumers during the holy month of Ramadan to IHHN. Savyour will also be encouraging its employees to get involved and support the hospital through volunteering and other activities in the near future.

Saad Gadit – Co-Founder and COO of Savyour stated, “We are honoured to partner with Indus Hospital and support their mission to improve the health and wellbeing of Pakistan. As a socially responsible company and citizens, we believe it is our duty to give back to our community and support organizations that are focused on making a real difference for the underprivileged communities.”

“After 15 years of serving humanity, we are proud to have partners in all provinces of Pakistan, and are committed to ensuring high quality healthcare, absolutely free-of-cost for all across the country,” said the Dr. Abdul Bari Khan, Founding President at IHHN. “Startups such as Savyour often have a strong focus on social responsibility, they prioritize social responsibility and are very much interested in supporting community uplifting initiatives such as IHHN’s.

Since its inception in 2007, Indus Hospital and Health Network has been at the forefront in sharing the responsibility with other stakeholders in Pakistan to address the nation’s health burden. IHHN believes that a robust health sector includes both public and private providers and such partnerships enable pooling of the expertise and resources for development along with ensuring community outreach, access and sustainability of health services to the most deserving members of the society.

Launched in August 2020, Savyour has become Pakistan’s largest rewards and cashback platform with more than 650 brands on-board across the nation, Online and Instore. With the sole aim of revolutionizing the shopping experience in Pakistan, Savyour is constantly adding newer technologies and features to its ecosystem in order to improve the user experience of its consumers and stakeholders.

For more information, contact:
Savyour
Disrupt Ventures Pakistan Pvt. Limited,
140-H, Block II, PECHS, Karachi, 75400, Pakistan
Email: care@savyour.com
Website: https://savyour.com.pk/

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IMF has always ruined poor countries

Islamabad, April 08, 2023 (PPI-OT): The Pakistan Economy Watch (PEW) on Friday said the IMF has always ruined poor countries through its impossible conditionalities. Developing countries should make vigorous efforts to create an Asian Monetary Fund as an alternative to get out of the clutches of the IMF, it said. African countries should also try to create their own monetary fund to tackle problems, said Saifuddin Sheikh, executive director of PEW.

In a statement issued here today, he said that Japan proposed the Asian Monetary Fund during the 1997 crisis, but it could not be implemented due to the opposition of the United States and China’s reluctance, but now the situation has changed. He said that the Chinese economy has become much more stable than in 1997 so it can catch up with the US. Like the IMF, the US dollar has always been used as a weapon therefore many countries are reducing their dependence on the dollar, he added.

Saifuddin Sheikh said that many countries are conducting international trade in their own currencies, while many are leaning towards the Chinese currency. Recently, Brazil and Malaysia have decided to trade in Yuan instead of dollars, which is a big step towards ending the monopoly of the dollar, he informed.

Earlier, Saudi Arabia had decided to sell oil to China in Yuan, which was a big blow to the dollar. He added that after the global sanctions on Russia, it started preferring the Chinese currency and now Russia trades mostly in it. At the moment, sixty percent of the assets of the Russian Wealth Fund consist of Chinese Yuan.

Indonesia, Vietnam, and Cambodia are also getting rid of the dollar. Meanwhile, BRICS countries are deciding to create their own currency, while Saudi Arabia is joining the Shanghai Cooperation Organization, which has worried the United States. Currently, 61 Countries including Pakistan are suffering from financial difficulties, from which many may go bankrupt if their debts of at least five hundred and twenty billion dollars are not waived, he warned.

For more information, contact:
President
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
Fax: +92-51-2802449
Cell: +92-321-5157671
Email: president@pakistaneconomywatch.com
Web: www.pakistaneconomywatch.com

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Increased interest rates will not bring down inflation

Islamabad, April 08, 2023 (PPI-OT): Former President of the Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Friday said the increase in interest rates to 21 percent by the central bank is a wrong decision. This move will not reduce inflation or bring economic stability, nor will it pave the way for the loan from the IMF, he said.

Shahid Rasheed Butt said that the current inflation in Pakistan is not related to current account deficit or excess capital in the market, but to government policies, including increased taxes and amplified prices of oil, electricity, and gas.

He said that the government has stopped imports for several months and goods worth more than five billion dollars are stuck at the port due to which many businesses are closed and many commodities are in short supply in the country which is the main cause of inflation. Apart from this, he said, the continuous depreciation of the rupee and the confidence of the traders and the people is also affected, while hoarders and profiteers have also been given a free hand which is causing inflation.

He said that SBP could not get anything out of the last increase in the interest rate to 20 percent and it will again fail to achieve any objective by increasing it to 21 percent. According to the World Bank, Pakistan’s growth rate will be 0.4 percent, while the Asian Development Bank estimates that the growth rate will remain at 0.6 percent.

Shahid Rashid Butt said that the political situation of the country is so disturbing that the world has lost faith in Pakistan. Apart from the IMF, other institutions and friendly countries are also not ready to lend to Pakistan. It will be a very difficult task for the government to extend the repayment date of previous loans.

For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571

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IG Punjab Dr. Usman Anwar visited the Police Training College Chung, addressed the women trainee officers at the Darbar

Lahore, April 07, 2023 (PPI-OT): Inspector General Police Punjab Dr. Usman Anwar has said that women officers and personnel are a very important part of Police Force and making them a strong professional officer by imparting modern policing skills including IT skills, weapon handling, anti-riot, traffic laws and community policing in the best training environment is among top priorities of the department.

IG Punjab said that there are currently around 2 thousand lady officers under training in the Police Training College, Lahore, who will complete their training in the next few months and perform their services in various positions in all districts of the province. IG Punjab directed that lady officers under training should be made to visit Police Stations, Khidmat Marakiz, Protection Centers, Safe City and other projects so that they can better acclimatize themselves with the challenges of the field along with academic lectures.

Dr. Usman Anwar said that all the instructors should impart the best professional legal, academic and practical training to the women officers with the spirit of service and dutifulness. IG Punjab said that the parents who made their daughters a part of the police force, I salute them because these daughters will become a wall in front of the oppressors and anti-social elements in future and become arms of the oppressed.

Dr. Usman Anwar Said that the future is IT based policing, lady trainee officers should pay special attention to learn IT skills and instructors should groom these officers in the same way as ASPs are trained. He directed that the senior officers of the Pakistan Police Service will give lectures to the lady officers on a daily basis.

IG Punjab said that lady police officers should take part in extracurricular activities, sports and other physical activities and If there is any distrust or fear in their personality, remove it immediately because you are the selected women who have to perform the great duty of serving and protecting life and property of citizens. IG Punjab announced Rs 10 lakh for lady officers for painting, sports and other extracurricular activities.

He said that the officers who secured the first five positions in the IT courses will be given a cash prize of one lac rupees. He expressed these views while addressing the lady officers under training at Police Darbar in Police Training College Chung today.

Commandant Chung College Usman Akram Gondal informed IG Punjab about Lady Recruit Course and other training activities of the college and said that at present 1679 lady officers of 35 districts of the province and Punjab Highway Patrol are undergoing training in Chung College who are undergoing modern professional training having duration of three semesters and 39 weeks.

During the training, these lady officers were trained in Pakistan Penal Code, Criminal Code, Local and Special Law, Police Order, Shahadat Law, Personal Grooming, Action against Terrorists, Awareness of Traffic Laws, Anti-Riot and Facilitation and community policing subjects are being taught for guidance of the downtrodden sections who deserve help and attention.

He said that lady officers are being given ample opportunities to participate in sports and after Eid a sports gala will be organized in which lady officers will participate in various sports events. IG Punjab said that if more resources or any facilities are needed for the training of women officers, the Central Police Office should be contacted immediately.

After the Durbar, IG Punjab also distributed certificates of appreciation to the officers and personnel with the best performance. Additional IG Training, Tariq Rustam Chohan, DIG Training, Mehboob Aslam and DIG Ahsan Younis and other officers were also present on this occasion.

Moreover, IG Punjab Dr. Usman Anwar also visited the investigation headquarters and issued instructions while presiding over the high-level meeting. Additional IG Sultan Ahmad Chaudhry briefed about the professional matters of the Investigation Branch.

IG Punjab, while giving instructions, said that the investigation of serious crime cases should be brought to a logical conclusion as soon as possible and the investigating officers should complete the trial at the earliest by maintaining close contact with the Prosecution Department.

Dr. Usman Anwar said that the investigation and monitoring units should make the monitoring of cases of robbery, dacoity, murder, kidnapping for ransom and other serious crimes more efficient in different districts so that the challans can be submitted in the courts after completing all the steps. IG Punjab directed those operations should be continued with the cooperation of Interpol and FIA to arrest proclaimed offenders inside country and abroad.

For more information, contact:
Punjab Police
Punjab Police Computer Bureau,
5th Floor, Central Police Office (CPO),
Punjab, Lahore
Tel: +92-42-99213019, +92-42-99213013
Fax: +92-42-99213012
Email: sapcb@punjabpolice.gov.pk
Website: www.punjabpolice.gov.pk

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On 05 April 2023, Security Forces conducted an Intelligence Based Operation in general area Shinwarsak, South Waziristan District

Rawalpindi, April 07, 2023 (PPI-OT): On 05 April 2023, Security Forces conducted an Intelligence Based Operation in general area Shinwarsak, South Waziristan District. During the conduct of the operation, intense fire exchange took place between own troops and the terrorists. Own troops effectively engaged the terrorist’s location and 8 x terrorists including terrorist commander Jan Muhammad alias Chargh were sent to hell.

Weapons and ammunition were also recovered from the killed terrorists. The killed terrorists remained actively involved in terrorist activities against security forces and killing of innocent citizens.

However, during intense exchange of fire, Sepoy Hamid Rasool (age 31 years, resident of District Rawalpindi) having fought gallantly, embraced shahadat while another four personnel including two officers got injured. Security forces of Pakistan are determined to eliminate the menace of terrorism and such sacrifices of our brave soldiers further strengthen our resolve.

For more information, contact:
Inter Services Public Relations (ISPR)
Hilal Road, Rawalpindi, Pakistan
Tel: +92-51-9271605
Fax: +92-51-9271601
Email: ispr@ispr.gov.pk
Website: www.ispr.gov.pk

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PM, Punjab Governor discuss matters of mutual interest

Punjab Governor Muhammad Baligh ur Rehman called on Prime Minister Shehbaz Sharif in Lahore today.

Matters of mutual interest and overall law and order situation in the province were discussed during the meeting.

On this occasion, the Governor presented a cheque to the Prime Minister for earthquake affectees of Turkiye and Syria.

Source: Radio Pakistan

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PML-N to agree on polls only if provided level playing field: Javed Latif

Federal Minister Mian Javed Latif has said that the Pakistan Muslim League-Nawaz would accept the general election 2023 only if its leadership was given level playing field in the political process.

Addressing a news conference in Lahore, he said no political party wanted to avoid elections, but equal opportunities should be provided to all before holding elections in the current year 2023.

He added that the PML-N leadership had always accepted the court decisions and never indulged in politics of agitation.

Javed Latif said that justice parameters should be the same for all and one should be above the law.

Source: Radio Pakistan