PEW lauds govt energy policy, efforts
ISLAMABAD (INP): The Pakistan Economy Watch (PEW) on Thursday said the incumbent government has given more attention to the energy sector than any other government in the history of the country. The credit of development of the energy sector and reduction in the magnitude of crisis goes to the Prime Minister Shahid Khaqan Abbasi, it said. The government realised that increased demand and reducing the output of gas can only be tackled through imports and it got two LNG terminals completed in record time. This added 1.2 billion cubic feet of the gas in the system providing relief to the industrial, commercial and domestic consumers which strengthened the economy, said Dr Murtaza Mughal, President PEW. He said that LNG helped generate 3600 megawatts of cheap electricity and helped the government save 1.2 billion dollars annually. Dr Murtaza Mughal said that it also enabled the government to lift a ban on the new gas connections which was intact since six years.
Efforts are underway to import gas from Turkmenistan which will further improve that situation while the LNG pipeline from Karachi to Lahore being constructed at a cost of two billion dollars will give a new life to the industrial sector.
The efforts of the government have resulted in increased production, job opportunities and revenue, he noted.
He said that if a major change is not allowed in the LNG policy, it will help country match imports to the local production within two years.
REAP to send delegation to Saudi Arabia
ISLAMABAD (Online): Rice Exporters Association of Pakistan (REAP) will send a delegation to Saudi Arabia to further increase the export of Pakistani rice as there is great demand for Pakistani rice there. This was disclosed by Senior Vice Chairman, Rice Exporters Association of Pakistan (REAP) Rafique Suleman during a meeting with Secretary Trade Development Authority of Pakistan (TDAP) Inamullah Khan held at TDAP office in Karachi. Director General, TDAP Rafeo Bashir Shah, and Secretary REAP Altaf Hussain Shaikh were also present during the meeting. He said REAP is planning to send a high profile delegation to Saudi Arabia in March for promoting the export of the Pakistani rice which is in great demand there. He said the export of Basmati rice to Saudi Arabia is over one billion dollars per year. Rafique Suleman expressed with pleasure that the REAP is seeing positive growth in rice exports, however, there are several measures to be taken for the betterment of the 2nd largest export trade. He shared the suggestions with TDAP Officials.
He said that since long time Pakistan did not have any good rice seed, that is why many companies are importing hybrid seeds of rice. He emphasized for proper check and balance on import of hybrid seeds, as it has been observed that some companies are importing low quality rice seeds which are not good for our agricultural environment. He also requested to give some relief to rice exporters as they are making huge investments for value addition in rice and struggling hard to compete in international markets, particularly for the survival of Basmati rice exports. He suggested to give farmers latest rice equipments, such as Dryers etc. on easy installments, so that rice growers can get good quality rice for export purpose. He also suggested to organize Awareness Programme by TDAP for farmers for adopting latest techniques in rice farming.
FBR initiates drive to make tax education part of university curricula
ISLMABAD (Staff Reporter): A team of FATE Wing of FBR Thursday visited the NUST Islamabad to request for greater academic focus and research on taxation and inculcation of tax education as a key component of university curricula. The team, led by Member FATE Ms Nausheen Javaid Amjad, met the management of NUST School of Social Science and Humanities and had a detailed interactive session with a large gathering of faculty and students of various departments on the need and importance of tax education and tax literacy for enabling the students to be the change agents for promoting a tax compliant society. She briefed the students on various initiatives taken by FBR in recent months such as the modernization of FBR's helpline, installation of a state-of-the-art CRMS, publication of facilitation brochures and material and various tax awareness and outreach programmes to bridge the gap between the tax authority and the taxpayers as well as to create the essential awareness and understanding of taxes and filing of Income Tax returns.
"People need to know that filing of Income Tax returns is not only a national and civic duty, it also entails many benefits and advantages in terms of low tax rates on various transactions for the filers," she said.
The FBR Member also dilated upon various outreach sessions and training workshops conducted by FBR on e-filing and other aspects of taxation for the employees of several large public and private sector organisations in recent months, and offered to hold similar training sessions and workshops for the outgoing students of NUST. "Our efforts have already resulted in significant improvement in the number of return filers this year and we hope our academic institutions can further create tax literacy to increase tax compliance and help the students learn the importance of something they confront well before they receive their first salaries and incomes after joining the business world as entrepreneurs and high-end professionals," she added.
Speaking on the occasion, Dr Ashfaque Hassan Khan, Principal and Dean of the NUST School of Social Science and Humanities, and Prof Dr. Athar Maqsood Ahmad, Head of Economics Department at NUST welcomed the FBR's initiative of doing away with the traditional, one-way communication of the past and starting a more engaging, interactive and productive partnership with the taxpayers and particularly students who were the future's opinion makers and business leaders, leading the way in the use and adoption of new innovative technologies to drive socio-economic changes in the society.
PFC to hold three mega
Interiors Pakistan exhibitions
LAHORE (INP): Pakistan Furniture Council (PFC) Thursday announced its annual schedule of three mega Interiors Pakistan exhibitions going to be held in Karachi, Lahore and Islamabad respectively to identify the untapped potential of economy and to introduce Pakistani handmade world class furniture products in the world market. PFC Chief Executive Mian Kashif Ashfaq while talking to media here, after chairing a high level meeting of board of directors of the council, said besides holding exhibitions inside Pakistan, as many as eight different high level of delegations of PFC will be sent abroad to explore new markets and build connections with American business community in furniture industry. He said in this regard, US, Canada, Europe, Australia, China and Middle East furniture markets would be explored besides strengthening the existing trade relations with international business community in the furniture industry.
He said the delegations would avail the opportunity to learn about the latest products and technologies in their fields, and would be able to improve their businesses as a result.
He further said that such business oriented tours could play a pivotal role for Pakistani furniture manufacturers in achieving the furniture export target of more than $1 billion annually in the international furniture markets.