Home Blog Page 11599

Pakistan, UAE discuss ways to strengthen economic cooperation

0
Pakistan, UAE discuss ways to strengthen economic cooperation
United Arab Emirates and Pakistan flags. Vector illustration.

ISLAMABAD, Jun 1 (APP):Ambassador of the United Arab Emirates, Hamad Obaid Ibrahim Salim Al-Zaabi Thursday called on the Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.

During the meeting, they conversed about the deep rooted brotherly ties and discussed various areas of common interest for further strengthening the trade and economic ties between the two countries, said a press statement issued by finance ministry

The ambassador also reciprocated interest of the UAE government for expanding investment in various sectors of the economy of Pakistan.

Ishaq Dar acknowledged that UAE had been a great partner of Pakistan in various fields including energy, refinery, petroleum and trade.

He appreciated and welcomed the investment proposals of the UAE in Pakistan and assured of complete support and cooperation by the government.

President directs SRBC to pay Rs 10.32m outstanding dues to security company

0

ISLAMABAD, Jun 01 (APP): President Dr Arif Alvi has directed the Shalimar Recording and Broadcasting Company (SRBC) to pay outstanding dues of Rs 10.32 million to a company in lieu of security services, which SRBC had regretted to pay due to financial crunch.

The president further directed the Secretary of the Ministry of Information and Broadcasting to ensure payment of outstanding dues in monthly instalments within one year and, if necessary, seek approval of the competent forum within six months.

He gave these directions while rejecting a representation filed by SRBC against the decision of the Wafaqi Mohtasib (WM) that directed it to pay Rs 10,320,800 to a security company (the complainant company) on account of security services received from it, a President House press release said.

The SRBC had admitted the outstanding dues but had expressed its inability to pay the outstanding amount, even in easy instalments, due to financial constraints faced by it since 2020.

Feeling aggrieved, the security company approached the Wafaqi Mohtasib, which passed the orders in its favour. SRBC, then, filed a representation with the president, which was rejected.

In his decision, the president said that it was strange that SRBC had adopted the stance before the president that it did not fall under the definition of “the Agency”, which as per president’s order No. 1 of 1983 meant a Ministry, Division, Department, Commission or office of the Federal Government or a statutory corporation or other institution established or controlled by the Federal Government.

He observed that SRBC was a public sector company, established under the Companies Act, 2017, and administratively controlled by the Ministry of Information and Broadcasting under the Rules of Business, 1973.

President Alvi stated that SRBC had failed to pay out its liabilities, which it had already admitted, and it had simply refused to pay the amount, which was tantamount to maladministration under Article 2 of the President’s Order No. 1 of 1983.

He said that the findings of the WM were well-reasoned and rational and SRBC had failed to produce anything on record in support of its stance.

The president said that since maladministration was established on the part of SRBC, it was directed to pay the outstanding dues as per Wafaqi Mohtasib’s orders.

He added that Secretary MOIB should ensure to make the payment and, if necessary, seek approval of the competent forum within six months.

Pakistan, UAE discuss ways to strengthen economic cooperation

0
Ambassador of the United Arab Emirates, Hamad Obaid Ibrahim Salim Al-Zaabi during a call on meeting with Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar
ISLAMABAD, Jun 1 (APP):Ambassador of the United Arab Emirates, Hamad Obaid Ibrahim Salim Al-Zaabi here on Thursday called on the Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar.

During the meeting they conversed about the deep rooted brotherly ties and discussed various areas of common interest for further strengthening the trade and economic ties between the two countries.

The Ambassador also reciprocated the interest of the UAE government for expanding investment in various sectors of the economy of Pakistan.

Finance Minister Senator Ishaq Dar acknowledged that UAE has been a great partner of Pakistan in various fields including energy, refinery, petroleum and trade, according to press statement issued by finance ministry.

He appreciated and welcomed the investment proposals of the UAE in Pakistan and assured of complete support and cooperation by the government.

FBR collects Rs.605 billion gross revenues in May

0
FBR

ISLAMABAD, Jun 1 (APP):Despite challenges, the Federal Board of Revenue (FBR) with its tremendous effort collected gross revenues of Rs.605 billion during the month of May, the board said in a statement issued here Thursday.

According to the statement, against a target of Rs. 621 billion, FBR was able to collect Rs.572 billion net revenue, while refunds amounting to Rs. 33 billion were issued during the month.

The board collected Rs. 205 billion in May 2023 under the head of domestic income tax compared to Rs. 131 billion in May 2022, thereby showing a growth of 57%.

A healthy year-on-year growth of 28% was achieved in the domestic sales tax with collection of almost Rs.100 billion.
Around Rs.41 billion were collected as Federal Excise Duty (FED) showing a year-on-year increase of 32%. A cumulative growth of almost 44% has been achieved in the collection of domestic taxes.

“This is despite the fact that the economy has slowed down and GDP growth rate has been revised downward. Cumulative growth of almost 44% has been achieved in the collection of domestic taxes,” the statement added.

On the import side, same momentum could not be maintained due to unprecedented compression in imports. In US$ terms, imports in the country declined by 37% in May 2023 compared to May 2022, the statement added.

Moreover, the import of high duty items such as vehicles, home appliances, as well as miscellaneous consumer goods such as garments, fabrics, footwear etc have been drastically reduced, changing the import mix.

This has impacted collection of Customs duties and other taxes, it said adding despite 18% dip in collection of Customs duties, and 11% decline in overall tax collection at import stage, FBR’s overall growth was registered at 16% compared to previous year.

protocols for 13th EU-Pakistan Joint Commission discussed

0

ISLAMABAD, Jun 1 (APP):Ambassador of the European Union (EU) to Pakistan, Dr. Riina Kionka Thursday called on the Federal Minister for Economic Affairs, Sardar Ayaz Sadiq and discussed agenda items, preparations and protocol of the upcoming 13th European Union (EU)–Pakistan Joint Commission, scheduled in Brussels later this month.

According to press statement issued by the Economic Affairs Division (EAD), the ambassador expressed her appreciation for the commendable execution of the recent meeting of the International Partners Support Group (IPSG).

She also emphasized the importance of continued alignment and coordination among the IPSG’s members and highlighted the need for future endeavors that foster even greater collaboration and synergy.

The Ambassador, on behalf of the Delegation of European Union to Pakistan, expressed condolences on the death of elder brother of the Minister Ayaz Sadiq.

According to press statement, the ambassador met the minister to engage in discussions on matters of mutual interest and explore avenues for strengthened cooperation.

The Ambassador, on behalf of the Delegation of European Union to Pakistan, expressed condolences on the death of elder brother of the Minister Ayaz Sadiq.
On the occasion, the minister appreciated the longstanding friendship and cooperation between the European Union and Pakistan and expressed gratitude for the EU’s continuous support to Pakistan’s economic development.

Both sides expressed satisfaction over the progress achieved so far and reiterated their commitment to further deepen cooperation between Pakistan and the European Union.

They agreed to continue engaging in high-level discussions and work towards concrete actions to strengthen the economic ties, promote investment opportunities, and enhance bilateral trade.

World now acknowledging Pakistani youth expertise in IT: IT Minister

0
World now acknowledging Pakistani youth expertise in IT: IT Minister

ISLAMABAD, Jun 1 (APP):Federal Minister for IT and Telecommunication Syed Amin Ul Haque on Thursday said that World now acknowledging Pakistani youth expertise in Information Technology and Telecom sector.

“Pakistan’s skilled IT experts, time zone, and fluent English speaking with excellent accents have unique importance in Digital World.

The World is now openly acknowledging the expertise of Pakistani youth in information technology “The minister expressed these views during meetings with different International delegations on the sidelines of GITEX Africa Digital Summit, and the Global tech exhibition being held in Morocco from May 31 to June 2.

The meetings discussed global challenges including revolutionary initiatives in the IT & Telecom sector by the Government of Pakistan said a news release received here.

The Minister also held an important meeting with Secretary General Digital Cooperation Organization (DCO), Ms. Deemah Al-Yahya. During the meeting, both sides discussed bilateral issues and measure to enhance digital cooperation between the member states of DCO.

Vice President of Dubai Chamber of Digital Economy, Saeed Al-Gerghavi also met with IT Minister Syed Amin Ul Haque and discussed investment opportunities in IT and telecom sector in Pakistan.

Mr. Babajide Sanwo-Olu, Governor of Lagos, Nigeria, also called on Federal Minister for IT Syed Amin Ul Haque.

Commerce Minister leaves for London to attend Commonwealth Conference

0
Commerce Minister leaves for London to attend Commonwealth Conference

ISLAMABAD, Jun 1 (APP):Federal Minister for Commerce, Syed Naveed Qamar Thursday left for London to attend the Commonwealth Trade Ministers Conference.

According to press statement issued by the commerce ministry, matters of mutual interest and trade would be discussed during the conference.

Investors from Commonwealth countries would be encouraged to invest in the stock market and other sectors of Pakistan economy, the statement added.

Ayesha Omar hails legendary Nayyar Ejaz as Finest Co-Actor

0
nayyar

ISLAMABAD, Jun 1 (APP): Sharing the screen with the most acclaimed actor in the Pakistani drama industry, Nayyar Ejaz, Omar is nothing but all praised about the Taxali co-actor.

Starring top-notch cast of the industry including Ayesha Omar, Yasir Hussain, Mehar Bano, Nayyer Ejaz, Iffat Omar, Iftikhar Thakur, Babar Ali, Umar Aalam, and Sheheryar Cheema, ‘Taxali’ is an upcoming crime-thriller set be released on this Eid-ul-Azha as announced by the director.

Since the announcement of the most anticipated film got aired, fans have been witnessing sweet interactions between two of its co-stars.

The ‘Karachi se Lahore’ star took to her Instagram account and started pouring heartfelt appreciation for the most senior & loveable actor Nayyar Ejaz, sharing her overwhelming emotions for being honored to have him as an acting coach & mentor.

“Nayyer Bhai you are a true legend and that’s why I wanted you as my acting coach”, stated the actor.

Omar further expressed her gratitude and respect also, for the ‘Na Maloom Afrad’ actor while attributing him as a legendary & talented one from the industry.

“It’s been amazing working with you & learning with you. The credit goes to you and the whole crew & cast”.

Continuing with the praising session between both the stars, Ejaz also responded being grateful for the sweet gesture by ‘Love Mein Ghum’ actress, stating her professionalism & dedication towards her tough & challenging role as noteworthy.

Apart from Taxali, Omar is also a part of the upcoming cinematic release Kukri, set to be aired on 2nd June 2023.