October 12, 2020 – Page 12

Indian NIA arrests youth in Budgam

Srinagar, October 12, 2020 (PPI-OT): In Indian illegally occupied Jammu and Kashmir, the India’s notorious National Investigation Agency (NIA), today, arrested a youth in Budgam. The NIA sleuths arrested the youth identified as Tafazul Hussain Parimoo in a fake case.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

Indian troops martyr two youth, injure dozens, set houses on fire in Srinagar

Srinagar, October 12, 2020 (PPI-OT): In Indian illegally occupied Jammu and Kashmir, Indian troops in their fresh act of state terrorism martyred two more youth, injured dozens while razing many houses and structures to rubbles in Srinagar, today.

The youth were killed by the troops during a cordon and search operation in Rambagh area of the city. The troops blasted many houses with inflammable material during the operation. The fire swept across huge areas razing dozens of structures to the ground in the area. As the news about the killings spread, people from Barzulla and adjoining areas took to the streets and clashed with the troops.

The troops fired bullets, pellets and teargas shells injuring many protesters including Jammu and Kashmir Social Youth Forum Chief Coordinator Tawseef and Srinagar District President Muhammad Faisal. Heavy stone pelting was going on till last reports came in.

Meanwhile, an Indian soldier of Sashastra Seema Bal committed suicide by shooting himself with his service rifle in Vilagam area of Kupwara district, today. This incident raised the number of such deaths among Indian troops and police personnel in the Indian illegally occupied Jammu and Kashmir to 477 since January 2007. It is worth mentioning here that two Indian soldiers took their life in the occupied territory in the two consecutive days.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

ICCI calls for more conducive policies to boost business activities

Islamabad, October 12, 2020 (PPI-OT): Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry said that the Covid-19 pandemic has caused drastic decline in the business activities across the country and it was high time that the government should focus on formulating more conducive policies besides taking supportive measures for the private sector to enable businesses to revive and boost business activities in the country. He emphasized that the State Bank of Pakistan should work with commercial banks to provide loans on low interest rates to the private sector for revival and expansion of business ventures. He was addressing a dinner reception hosted by Sheikh Abdul Waheed, Chairman, Pakistan Vanaspati Manufacturers Association (PVMA) and Faad Waheed, Executive Member ICCI in honour of new Office Bearers of Islamabad Chamber of Commerce and Industry.

Sardar Yasir Ilyas Khan said promoting ease of doing business should be the top priority of the government so that the economy could come out of the difficulties created by the Covid-19 pandemic. However, instead of taking facilitative measures for businesses, FBR was issuing regulatory orders like SRO-924 and SRO-931/2020 that would create additional problems for businesses of Construction and automobile sectors. He stressed that FBR should take stakeholders fully on board before issuing any new SRO that would save the economy from unnecessary problems.

Speaking at the occasion, Sardar Tanveer Ilyas Khan, Chairman, Punjab Board of Investment and Trade highlighted the potential areas of investment in the Punjab Province and said that the business community should capitalize on them for future business promotion and growth. He stressed the need of close cooperation and regular interaction between policymakers and business leaders to make new policies that should put the economy on the path of sustainable growth.

Mian Akram Farid Chairman Founder, Ms. Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI, former Presidents FPCCI Abdul Rauf Alam, Zubair Ahmed Malik, Ghazanfar Bilour, former Presidents ICCI Khalid Javed, Tariq Sadiq, Zafar Bakhtawri, Mian Shaukat Masud, Ejaz Abbasi, Atif Ikram Sheikh, Zahid Maqbool, Sheikh Amir Waheed, Baser Daud, Ahmed Mughal, Muhammad Ahmed Waheed, as well as Ch. Waheed ud Din, Nasir Qureshi, President Haripur CCI Shehbaz Sheikh, President RCCI Nasir Mirza, Sohail Altaf, Khalid Tawab, Samina Fazal, Rafat Farid, Ahsan Bakhtasari, Ajmal Baloch, Khalid Chaudhry, Malik Sohail Hussain, Tahir Mehmood, Executive Members ICCI, Presidents of Market Associations and a large number of business community attended the dinner reception.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

Refund system should be handed over to SBP

Islamabad, October 12, 2020 (PPI-OT): FBR seems to be more interested in collecting refunds than taxes which is damaging the fragile economy, an FPCCI official said Saturday. The refund system should be automated and its responsibility should rest with the central bank to reduce complaints and corruption and improve the economic situation, said Convener FPCCI Central Standing Committee on Insurance said Dr. Murtaza Mughal.

He said that the government is trying hard to inject new blood in the economy and restore the confidence of the business community but the tax mechanism is working against it. Unrealistic tax targets have compelled the FBR to strangulate the business activities through highhandedness to show performance, he added.

Dr. Murtaza Mughal who is also President of the Pakistan Economy Watch said that FBR continues to issue SROs which violates the government’s intention to spur growth. He said that recently SRO 889 has been issued for surveillance of factories which is being opposed by the industrialists as it will trigger harassment, corruption and litigation.

Similarly, through two SROs, banks have been directed to report anyone withdrawing one million rupees or more and depositing ten million rupees or more while real estate agents have been directed to report all the sales and purchases to FBR. These SROs will damage the realty sector, discourage investment and may reverse the gains made through the construction package, amnesty scheme and other incentives offered by the government to spur growth.

He said that all over the world the real estate market is kept insulated from fear, raids, unnecessary audits but here its different which is one of the reasons Pakistanis ignore the local market and invest in the realty sector of other countries.

For more information, contact:
President
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
Fax: +92-51-2802449
Cell: +92-321-5157671
Email: president@pakistaneconomywatch.com
Web: www.pakistaneconomywatch.com

CDA asked to address key issues of business community on priority

Islamabad, October 12, 2020 (PPI-OT): Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry said that most of the issues of business community in Islamabad were related to CDA and it should focus on addressing such issues on priority to facilitate the growth of business activities. He was addressing a delegation of CDA Mazdoor Union that visited the Chamber led by its Secretary General Ch. Muhammad Yasin to congratulate the newly elected Office Bearers of ICCI. Raja Shakir Zaman Kiani, President, CDA Mazdoor Union, Aurangzeb Khan and others were in the delegation.

Sardar Yasir Ilyas Khan said that due to some issues between CDA and MCI for distribution of resources, no development work was done in any market of Islamabad for the past several years. However, now some departments have been returned from MCI to CDA and hoped that CDA would accelerate efforts for resolving pending issues of the business community. He urged that CDA should take ICCI on board to address problems including improvement in the face of capital and expediting the approval process of commercial buildings plans. He said that cooperation of CDA Mazdoor Union was also important in resolving problems of trade and industry and assured that ICCI would support the protection of genuine rights of CDA employees.

Mian Akram Farid, Chairman Founder Group said that CDA employees were making useful contributions towards promoting the greenery in Islamabad and addressing issues of citizens including the business community. He hoped that CDA employees would work more hard to facilitate citizens by addressing their major issues and make Islamabad one of the most beautiful capitals of the world. He said that lack of parking was a major problem in markets and commercial and CDA should take urgent measures to address it. He said that Pakistan could earn billions of dollars by exporting trained and skilled manpower and urged that the government should take strong policy measures to achieve this goal.

Speaking at the occasion, Ch. Muhammad Yasin, Secretary General, CDA Mazdoor Union said that the business community was the backbone of local economy and CDA Mazdoor Union would cooperate in resolving its burning issues. He said that ICCI members were playing an important role in developing the city and creating jobs and their problems needed urgent redress. He said that the tense relations between CDA and MCI over the distribution of functions and resources have affected the pace of development works in the city.

However, now some departments have been given back to CDA which will help in resolving issues promptly. He said that the CDA Union was supportive of the inclusion of sitting President ICCI in the CDA Board. It was agreed that both sides should join hands and work together for the development of the city and growth of business activities.

Ms. Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI, Zubair Ahmed Malik, Muhammad Ejaz Abbasi, Mian Shaukat Masud, Shakeel Munir, Ch. Ashraf Farzand, M. Javed Iqbal, Abdul Rehman Siddiqui, Aslam Khokhar, Rana Qaiser, Ali Akram Khan, Khalid Chaudhry Naveed Malik, Tehmas Butt and others also spoke at the occasion and appreciated the role of CDA Mazdoor Union for the welfare of CDA workers.

Government to spend around Rs18bn during current fiscal year to address urbanization issues

Islamabad, October 12, 2020 (PPI-OT): The government will spend around 18 billion rupees during the current fiscal year for physical planning and housing sector programmes to address the increasing urbanization issues and challenges. According to an official document, Pakistan has the highest rate of urbanization in South Asia and as per Population Census of 2017; urbanization had increased from 32.52 percent to 36.38 percent during 1998 to 2017.

The federal government has also announced relief packages for construction and agriculture sectors and a subsidy of 30 billion rupees under Naya Pakistan Housing Scheme. The provincial governments also announced relief packages for vulnerable people and exemption in taxes.

In addition, the Naya Pakistan Housing and Development Authority (NAPHDA) had been established for undertaking Prime Minister’s Programme for construction of five million affordable houses to the general public. Special relief package for construction industry had been announced by the government to boost construction activity.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk

Despite Covid-19, good news for our economy: Prime Minister

Islamabad, October 12, 2020 (PPI-OT): Prime Minister Imran Khan has said despite Covid-19, there are good news for our economy. In a tweet on Monday, he said remittances from our hardworking overseas Pakistanis rose to 2.3 billion dollars in September this year, which is thirty one percent higher than last September and nine percent higher than August this year. He said this marks the fourth consecutive month that remittances have remained above two billion dollars.