Ostensibly, it was not an easy decision for Prime Minister Nawaz Sharif to take part in the swearing in ceremony of his Indian counterpart Narendra Modi. However he finally made it. A decision that virtually caused ripples within the right wing mindset of the country that wanted Prime Minister Nawaz to have certain guarantees on core issues confronting the both countries from the Indian leadership before undertaking the visit. Undoubtedly, those who opposed prime minister’s visit had a valid case and rightful apprehensions. Nevertheless it was perhaps too early to take hardcore standpoint, especially when the incumbent Indian prime minister had not spoken his mind, in detail, in terms of his country’s future course of action, with particular reference to relations with the neighboring countries including Pakistan.
Used vehicles: duty collection tumbles to Rs7bn in July-April
KARACHI: Import of used vehicles continued to show negative trend as only 17,968 units were imported in engine capacity range of 660cc to above 3,000cc including jeeps (4×4) in July-April 2013-14 as compared to 41,281 units in the same period last fiscal year. The government’s customs duty collection from the above imports plunged to Rs7 billion from Rs15bn collected in the corresponding period of last fiscal year. Only 13,090 cars up to 1,000cc under various schemes were landed as compared to 23,779 units. From 1,001cc to 1,300cc, only 28 cars were imported as compared to 2,186 units.
Textile value-added sector opposes sales tax on exports
KARACHI: The value-added textile sector has taken strong exception to the government proposal of imposing 5.5 per cent sales tax on its exports in the budget 2014-15. Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) Zonal Chairman South Arshad Aziz, Towel Manufacturers Association (TMA) Senior Vice-Chairman Iftikhar Ahmed Malik, Pakistan Cloth Merchants’ Association (PCMA) Chairman Abid Chinoy and Irfan Z Bawany of Pakistan Hosiery Manufacturers Association (PHMA) talking to DNA on Saturday said that the move would be disastrous and further put them at disadvantage against regional rivals.
Seven FBR officials promoted despite not filing tax returns
ISLAMABAD: Finance Minister Ishaq Dar is all set to present the second budget by the Pakistan Muslim League-Nawaz government in the National Assembly on Tuesday. The finance bill, which will be tabled in parliament next week, is expected to include Rs535 billion in additional taxes and other administrative measures. The ambitious new tax measures revolve around three pillars — documenting and taxing the rich, raising the existing withholding tax rates for non-compliant taxpayers, and increasing the income tax share in overall revenue collection.
Sugar millers make out case for exports
KARACHI: The country will have around one million tonnes of extra sugar this year based on monthly consumption of around 390,000 tonnes and available stocks of 3.45 million tonnes held by sugar mills of three provinces till May 15, 2014, according to millers’ estimates. They said mills in Punjab hold 1.927m tonnes of sugar stocks, followed by 1.328m tonnes in Sindh and 200,000 tonnes in Khyber Pakhtunkhwa.
Braving the Gathering Storm
F Z Khan
Though the first round of Afghan presidential election has not shown a clear winner as yet – all eyes are now on the second round of the election, scheduled to be held on June 7; and it has to be seen whether Abdullah Abdullah manages to secure a clear mandate or Ashraf Ghani emerges successful – yet the world has witnessed a dramatic change as about 60 percent Afghans, one-third of them being women, turned up at the polling stations, which seemed impossible amidst threats from the Taliban and security alerts from the law enforcers.
Obama says US finishing Afghan job
WASHINGTON: President Barack Obama, seeking to turn the page on more than a decade of war, announced plans Tuesday for greatly reducing US forces in Afghanistan by the end of the year and then ending the US military commitment by the end of 2016. He said American forces, first sent within a month of the Sept 11, 2001, attacks, have struck significant blows against al Qaeda’s leadership, eliminated Osama bin Laden and prevented Afghanistan from being used as a base against the US. “We have now been in Afghanistan longer than many Americans expected,” Obama acknowledged during an appearance in the White House Rose Garden.
Saudi-Iranian Relationship: Rapprochement on the Way
Lubna Syed
An historic invitation came on 13th May 2014, from Saudi Foreign Minister Saud al Faisal to his Iranian counterpart Javad Zarif, in which he offered him to visit Saudi Arabia. This offer came during US Secretary of Defense Chuck Hagel and US Secretary of State, John Kerry’s visit to Riyadh.
European elections: polling both to be set up at Romanian embassy
ISLAMABAD, MAY 20 (DNA) -The elections for the representatives of Romania to the European Parliament will be held on Sunday, May 25th, 2014, diplomatic sources told DNA on Tuesday.As a full-fledged member of the European Union, Romania will organize, on May 25th elections for its representatives to the European Parliament.
New office-bearers of Pak-Romania association announced
ISLAMABAD, MAY 18 (DNA) – The office-bearers of Pakistan Romania Friendship Association (PRFA) for the year 2014-15 have been announced. Syed Ahmed will continue to be the president of the association for second consecutive term. The office-bearers were announced in a meeting held at the resident of Ambassador of Romania Emian ION, who is the patron of the association.
