Wednesday, May 11th, 2022
Rs.2.7 Billion Scam unearthed in Sugar Industry
President Alvi confirms FTOs recommenation to take action as per Benami Transaction Act DNA ISLAMABAD: Federal Tax Ombudsman Dr. Asif Mahmood Jah has unearthed a bog Scam of selling Sugar to unregistered buyers. An Own Motion Investigation was based on an in-house “Sector Analysis Exercise”, and aimed at hitherto Un-Registered / Non-NTN Holders / Non-Filers, who had been buying huge quantities of sugar from sugar mills / manufacturers. Bottom line of the instant OM was the fact that sugar sector was one of the major sectors of the economy whereinRead More
Indecision, unclear economic policies unnerving markets
ISLAMABAD, MAY 11: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said indecision and unclear economic policies are resulting in nervousness among the investors which is harmful to the economy. Government should take a clear stance on important economic matters which should align with the national interests, he said. Mian Zahid Hussain said that Pakistan cannot borrow from IMF or friendly countries unless the oil and electricity prices are revised upward which willRead More
ICCI demands urgent power sector reforms for ease of doing business
Islamabad, MAY 11 /DNA/ – Electricity plays a vital role in the economic development of a country, but rising circular debt, surging transmission & distribution losses and poor performance of power companies is taking a heavy toll on the business & economic activities in Pakistan. Therefore, the government should take urgent measures to bring drastic reforms in the power sector in order to reduce the production cost and promote ease of doing business. This was said by Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry in a statement.Read More
Decision to upgrade relations with India highly laudable
ISLAMABAD: /DNA/ – Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Wednesday welcomed the news about the plan of the government to normalise relations with neighbouring India. Such a decision will be in the greater national interest as affordable agriculture and other products will be within the reach of Pakistan which will provide some relief to the masses reeling under unprecedented inflation for years, he said. Shahid Rasheed Butt said that the move, if implemented, will also help the government to reduce inflationRead More
Information Ministry condemns killing of Palestinian journalist
DNA RAMALLAH: The Ministry of Information is deeply shocked over the killing of the Palestinian journalist Shireen Abu Akleh and the injury of other journalists, including Ali Smodi, at dawn today in Jenin refugee camp. The Israeli occupation forces killed Abu Akleh, who was wearing her clearly visible and marked journalist gear, when covering the Israeli military storming of the refugee camp. In several previous occasions, the Israeli occupation has repeatedly targeted, injured and assaulted Palestinian journalists, including the renowned journalist Abu Akleh. Today, Shireen joins other journalists that IsraelRead More
Car prices off the hook
By Muhammad Omar Iftikhar The prices of cars being assembled in Pakistan have once again risen. The car models that were once a charm for the middle-class society of Pakistan, have become out-of-reach. One wonders how can a middle-class man earning an income that only suffices for his budget, not to mention the school fees of children, can afford a car that is worth Rs. 19 lakhs. These cars were once available at a price that appealed to the middle class. Perhaps the government should put a check on theRead More