Increase in exports must to appreciate Pak rupee: Altaf Shakoor

KARACHI (Staff Reporter): Government should take firm steps to increase exports for appreciating the value of Pakistani rupee, said Pasban e Pakistan President Altaf Shakoor in a statement here on Monday. He said with new arrangements of swap with the Chinese currency, it is feared that the Pakistani rupee would further depreciate, adding it would not augur well for economy and increase the burden of foreign debt. He said it is necessary to take precautionary measures so that the Pakistani rupee is does not depreciate further. He said the key to resolve this issue is increasing exports of Pakistani goods for which the government should provide generous incentives to the industrial sector. He said, “Besides we should be self-sufficient in meeting local demand, so that less and less goods and commodities could be imported.” He said, “It is fact that Pakistan is unable to produce quality goods at cheaper cost; this is why the country may not compete with the cheaper Chinese goods.”

He said ultimately this situation would appreciate the value of Chinese currency, as compared to the Pakistani rupee. He asked for making a better climate to attract new investment so as to generate more employment opportunities and increase the GDP.

 Sindh E&T Dept collected Rs29.2 billion tax during July-Dec

KARACHI(Staff Reporter): Sindh Minister for Excise and Taxation & Narcotics Control Mukesh Kumar Chawla has said that Sindh Excise Department has collected Rs. 29.2 billion tax in various heads during July-December period of fiscal year 2017-18 as compared to Rs 26.7 billion recovered during same period of last financial year. He stated this while presiding over a meeting here in his office on Monday. Secretary Excise and Taxation & Narcotics Abdul Haleem Shaikh, Director General Shoaib Ahmed Siddiqui and other officers also attended the meeting. DG ET & NC Shoaib Ahmed Siddiqui , while briefing the meeting , informed that Rs. 3142.087 million were recovered in term of motor vehicle tax, Rs. 22102.418 million in infrastructure cess, Rs 230.057 million in professional tax, Rs150.385 million in cotton fee while Rs 1242.418 million in property tax were collected. Sindh Minister for ET & NC, addressing the meeting, asked the officers to improve their performance and achieve their tax targets.

He also asked the Secretary ET & NC to take action against those officers who had showed lethargic attitude and poor performance in collection of the taxes and monitor their performance on regular basis. However, he appreciated those officers who had done well. DG Shoaib Ahmed Siddiqui briefed Provincial Minister Mukesh Kumar Chawla regarding officers’ performance and tax targets.

o Preparations for 11th session of

Pak-Saudi JMC reviewed

ISLAMABAD (Staff Reporter): Minister of State for Finance and Economic Affairs, Rana Muhammad Afzal Khan Monday chaired a meeting at the Economic Affairs Division to review preparations for the 11th session of the Pak-Saudi Arabia Joint Ministerial Commission (JMC). The session is scheduled to take place in third week of January in Islamabad. During the JMC meeting, experts from both sides shall dilate on number of subjects including trade, commerce, energy, education besides having discussion on matters related to manpower export/import in both the countries. The minister, while highlighting importance of the upcoming JMC, said this occasion should be best utilized to attract business community from Saudi Arabia to invest in Pakistan. He said the JMC would also afford us an opportunity to further expand Pak-Saudi economic cooperation. The meeting was attended by senior officials from all Ministries concerned including Finance and Commerce. TDAP to organise single country exhibition in Colombo from 12th

ISLAMABAD (APP): Trade Development Authority of Pakistan (TDAP), in collaboration with High Commission of Pakistan in Sri Lanka, would organize 'Pakistan single country exhibition' in Colombo in order to promote bilateral trade with Sri Lanka. The three-day event would be held from January 12 to 14 as Pakistan has successfully organized such events in 2016 and 2017 to promote bilateral trade and economic relations between both of the countries, a press release Monday said. Sri Lankan President Mathripala Srisena would be the chief gust on the opening ceremony of the exhibition, which aims at providing a platform to the Pakistani companies for showcasing their range of products and services to Sri Lankan public and business community. The exhibition contributes to promote Pakistan-Sri Lanka economic relations by diversifying the existing trade patterns, hence introducing a wide range of quality products in the Sri Lankan markets.

The exhibition is featuring leading Pakistani organizations and manufacturers of engineering products, auto parts, agriculture products, textile, clothing and designing. The exhibition would also features handicrafts, traditional textiles, cosmetics, herbal products, pharmaceuticals, cutlery, gems, jewellery and furniture as well as carpet and marble services.