‘Imported LPG being sold at
cheaper rates’
LAHORE (Staff Reporter); The locally produced LPG is currently priced at Rs 80,000 per ton while imported LPG is being supplied at Rs 68,000 to 69,000 per ton. The government is collecting up to 21 per cent taxes on sale of locally produced LPG per ton, including sales tax, withholding tax and income tax. On the other hand, imported LPG is coming without paying any duty, and major quantity is being supplied to middle men maintaining no accounts, the marketing companies claimed. Hence, the imported LPG is being sold at cheaper rates due to absence of duties, creating uncompetitive atmosphere for local producers.
Chairman LPGAP Farooq Iftikhar said that cut in taxes ratio of locally produced LPG would provide cheaper fuel to public, besides enabling the government to generate more revenue.
Trade officers in foreign countries not to get extension
ISLAMABAD (Online): The PML-N govt has decided to recall trade officers serving in various countries and would appoint blue eyed officers in their places. To this effect the Ministry of Commerce has notified that the terms of Pakistan’s trade officers serving at present in foreign countries shall not be extended. According to a notification issued recently by Secretary to Prime Minister Javaid Alam, the Ministry of Commerce with the approval of the prime minister has communicated the decision to the officers concerned so as to provide them sufficient time to complete formalities to return to the country.
According to sources, this has sent a wave of concern amongst the trade officers serving abroad as with this decision several on going projects and trade exhibitions already in the pipeline are likely to be effected.
UAF, FFF sign MoU
FAISALABAD (INP): The University of Agriculture Faisalabad and Fauji Fresh N Freeze (FFF) Limited have inked an memorandum of understanding to work together for addressing the missing gap in efficient production and cultivation techniques for fruit and vegetable sector. Vice Chancellor (VC) UAF, Prof Dr Iqrar Ahmad and FFF representative Afaq Tiwana inked the MoU at a ceremony here on Saturday. Under the agreement, FFF was interested in R & D and seed development for selected vegetable and development of efficient crop management practices for optimum crop production which UAF will provide trained researchers at UAF Depalpur-Okara Sub-campus. The UAF will also train the FFF team.
The will also cooperate in other areas including post harvest logistic, simulation and food technology. UAF Office of Research Innovation and Commercialization Director Dr Asif Rao and FFF Managing Director Agri Malik Waqar were also present on the occasion.
CCP to conduct open hearing
ISLAMABAD (STAFF REPORTER): The CCP will issue its recommendations to promote competition in public procurement of power equipment following a public hearing to be held on 17 February 2015. CCP, after taking notice of numerous concerns raised by various stakeholders including manufacturers and suppliers of electric power equipment regarding certain restrictive, exclusive, and discriminatory terms and conditions in tenders floated by public sector organizations, such as NTDC & DISCOs, for the supply of electric power equipment, has decided to conduct an open hearing under Section 29 of the Competition Act, 2010 into the matter on 17 February 2015.
The Commission is mandated by the Act to inter alia undertake enforcement, advocacy, and research efforts to provide for free competition in all spheres of commercial and economic activity to enhance economic efficiency.
, and to protect consumers from anti-competitive behavior. In furtherance of this mandate, Section 29 of the Act empowers the Commission to hold hearings in connection with matters that affect the state of competition in Pakistan or affect the country’s commercial activities and to publically express its opinion in the matter.
The importance of maintaining a level playing field with regard to public procurement cannot be underestimated, as it accounts for at least 25% of Pakistan’s GDP. It is also crucial to protect against anti-competitive behavior in public procurement, as a healthy competition in the sector is essential to ensure that public money is used in an efficient and effective manner.
The open hearing will be held on Tuesday 17 February 2015 at 11 am at the Commission’s office located at 9th Floor, ISE Towers, Blue Area, Jinnah Avenue, Islamabad. The matter will be heard by the entire Commission comprising Ms. Vadiyya Khalil, Chairperson, Dr Joseph Wilson, Member Competition Policy and Research, Mueen Batlay, Member Mergers and Acquisitions, Dr Shahzad Ansar, Member OFT and Advocacy, and Ikram ul Haque Qureshi, Member, Legal and Cartels & Trade Abuses.
After the hearing, the Commission will issue its considered opinion, laying out recommendations to protect and promote competition in public procurement of power equipment in the best interest of all stakeholders including the government, public sector organizations, manufacturers and suppliers, and above all the consumers and public at large.
FPCCI condemns terror attack
KARACHI (NNI): The FPCCI has strongly condemned the terrorist attack which claimed lives of 19 innocent people in Peshawar. Mian M Adrees, President FPCCI, Abdul Rahim Janoo, SVP along with all Vice Presidents in a joint press statement while condemning the terrorist attacks said that continuous loss of innocent people is not bearable. They said that such terrorist attacks which are aimed at destabilizing the country cannot damage the unity of the people of Pakistan against terrorism. They further expressed profound grief and sorrow over the loss of precious lives in the incident and sympathies with those injured in the incident and demanded all possible assistance to them from the govt and concerned authorities.
They further said that business community demanded early establishment of Military Courts and their functioning in all the provinces for speedy trail of all terrorists and culprits involved in terrorist attacks. They said that military courts will contribute in improving the law and order situation.