Nestlé Pak earnings up to Rs7.93b

LAHORE (Staff Reporter): Nestlé Pakistan recorded a positive first half, posting a growth of 10%, and an overall increase in its total revenue by Rs 5.64 billion. The company reported overall earnings of Rs 7.93 billion for the six months ended on June 30, 2017 as compared to Rs 6.42 billion in the corresponding period last year. The company said it was a result of optimization of its value chain and continuous improvement in the product mix. The results were announced upon the conclusion of the meeting of Nestlé Pakistan’s Board of Directors. In continuation with its positive financial performance in 2016, Nestlé Pakistan, the Pakistani subsidiary of the world’s largest food and beverage company, posted its results for the first half of 2017. Nestlé Pakistan’s earnings per share increased from Rs 141.58 per share in the same period last year to Rs174.95 per share. In the area of sales, the revenue of Nestlé Pakistan stood at Rs 61.94 billion.

Pak apparels export council on the cards: PRGMEA chairman

SIALKOT (APP): Central chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar has said there was active consideration to set up `Pakistan Apparels Export Council' to facilitate business community of the country. Talking to APP on Tuesday, he said that PRGMEA had completed initial work for the establishment of the proposed council. Ijaz disclosed that a board will be constituted comprising members of Trade Development Authority of Pakistan (TDAP) and Textile Ministry and stakeholders for finding out ways to enhance export volume of garment sector. The central chairman disclosed that PRGMEA was making strenuous efforts for enhancing export of garment sector up to 8 billion dollars by 2020 with the active cooperation of the business community. Necessary arrangements are being finalised for setting up state of Pakistan Readymade Technical Training Institute costing over Rs 175 million in Sialkot.

Suitable site for the proposed training institute had been selected and development work on the project will soon be undertaken, he said.

Ijaz said the basic concept of setting up the training institute was to produce trained workforce in the field of stitching, pattern designing, quality control, inspection, marketing and sewing machine mechanics, men and women.

"Presently, there are 50 industrial units which are producing Martial Art uniforms while 100 units are engaged in producing tracksuits and sportswear in Sialkot and catering to domestic and international needs", he explained.

Whitefly, PBW attack on cotton

crop increases

MULTAN (APP): Punjab Agriculture Department has advised the farmers to take special care of their cotton field as Whitefly, Thrips and Pink Bollworm (PBW) have attacked the crop seriously in most of the fields. This was stated by Naveed Asmat Kahloon, Assistant Director Agricultural Information Multan, while talking to the media in his office on Tuesday. He said that cotton crop had entered into critical stage and attack of sucking and chewing insect pests on cotton crop had been increased. These pests should be controlled as early as possible so that crop could be saved from a considerable loss at this final stage. He informed that teams of Agriculture (Ext. & Pest Warning) departments were conducting pest scouting in the fields on daily basis. The hot spots of insect pests especially whitefly, thrips and pink bollworm were being observed in the fields. These hot spots are being treated on war-footing by the farmers. Naveed added that symptoms of attack of pink bollworm were causing appearance of rosette flowers.

The rosette flowers must be plucked and destroyed at the earliest, he added. He further said that some farmers used chemical spray against PBW as precautionary measure which was not advisable by the Agriculture department as sometimes haphazard sprays of chemicals results into infestation of whitefly increase in the field.

He said that due to use of unnecessary chemical sprays, resistance developed in insect and pests of cotton. Farmers are advised to conduct pest scouting of their cotton fields regularly and use of new chemistry pesticides as advised by the local agricultural experts.

Filer taxpayers increased by 58pc in 4 years, 23pc in one year

ISLAMABAD (APP): The number of return filer taxpayers in the country has increased by 58 percent during the fiscal year 2016 compared to FY2013 and by 13.23 percent against FY2015. The number of taxpayers who have filed returns has touched 1,216,614 figure compared to 769,892 during year 2013, showing growth of 58 percent, according to officials data. The number of taxpayers during FY2015 stood at 107,418, which witnessed growth of 13.23 percent when compared to the taxpayers of FY2016. Officials sources said that it was due to initiatives taken by the current government that taxes base was expanding and government strategies have been yielding results. The FBR recently launched 17,000 page tax directory, wherein tax details of over 1.2 million taxpayers has been placed. It is fourth consecutive year that the government has launched the tax directory. The tax directory comprises three sections including corporations, Associations of Persons (AOPs) and individuals listed in alphabetical order.

Pakistan is the fourth country that has issued tax directory of its taxpayers, aiming at expanding tax net by gaining the confidence of citizens by providing them access to information. The Habib Bank Ltd and MCB Bank have emerged to be two top taxpayers amongst Pakistani banks as per the directory.