ISLAMABAD, April 27 (APP):Minister for Finance Dr Miftah Ismail Friday proposed rationalizing tax rate on import of coal and maintaining the duty rate at four percent.
Presenting federal budget for the year 2018-19, he said currently tax on import of coal was payable at the rate of 5.5% for companies and 6% for persons other than companies.
“In order to decrease cost of production it is proposed that the rate of tax may be reduced to 4%,” the minister said.
Miftah proposes tax rationalization on coal import
Overseas workers remittances jumped to US $ 19.3 billion in last 5 years: Miftah Islamil
ISLAMABAD, Apr 27 (APP):Federal Minister for Finance Miftah Islmail Friday said, Workers’ Remittances of overseas Pakistan had been jumped from $13.9 billion 2013 to $19.3 billion for last five years.
Presenting budget speech, the minister said they expected the Remittances more than US$ 20 billion at end of this year which would be a record for the country.
He further informed that the Foreign Direct Investment (FDI) had increased to $2.7 billion in FY 2017 from $1.3 billion in 2013.
During the first nine-months of the current fiscal year, it had touched the figure of US $ 2.1 billion as against US $1.9 billion during the same period last year, he added.
Increased FDI reflected confidence of international investors in policies of the present government, he said.
Regarding the Foreign Exchange Reserves (FER), he informed that when the government took office, the foreign exchange reserves had depleted to only US$ 6.3 billion.
These reserves increased to US $19.4 billion by October 2016. However, the increased trade deficit has impacted the build-up of reserves.
Presently, he shared, reserves held with State Back of Pakistan stood at US $11 billion and the fovernment was taking necessary measures to ensure reserve adequacy.
PM inaugurates modern Diabetes Centre
ISLAMABAD, Apr 27 (APP):Prime Minister Shahid Khaqan Abbasi Friday inaugurated “The Diabetes Centre” here at Phulgaran in the outskirts of the Capital, to help early diagnosis and treatment of the disease.
The Prime Minister announced a grant of Rs 100 million for the centre and urged philanthropists to generously contribute to help expand its reach.
He said the disease was a major challenge and urgent measures were needed to address it by setting up similar centres across the country. He said it would serve as a model for not only the country, but also the region.
Prime Minister Abbasi said The Diabetes Centre, Inc. (TDC), has taken on the challenge of dealing with the diabetes and was playing a significant role in creating awareness, education, and health care delivery.
He hoped the new centre at Phulgaran would cater to the needs of the people of areas adjoining the Federal Capital and Azad Kashmir.
He said the TDC was serving as a centre of excellence and offering comprehensive care to diabetics in Pakistan. He appreciated the provision of quality diagnostics and treatment to the patients besides its training initiative.
Earlier, the Prime Minister was informed that the TDC was focused on diabetes care, treatment and awareness and offered 12 specialized facilities under one roof.
The clinic has to-date treated over 17,000 patients free of cost besides caring for around 500 patients per week who mainly come from various districts of northern Punjab and Khyber Pakhtunkhwa.
Diabetes prevalence in Pakistan is high, 12% of people above 25 years of age suffer from the condition and 10% have impaired glucose tolerance.
TDC is an internationally-recognized, not-for-profit organization and is registered tax-exempted charity in the UK, US and Pakistan.
Govt starts giving funds for K4 Water Project in Karachi: Finance Minister
ISLAMABAD, Apr 27 (APP):Minister for Finance, Revenue and Economic Affairs Dr Miftah Ismail on Friday said that the government has started giving funds for the K4 water project in Karachi.
In a federal budget speech 2018-19 in the National Assembly, the minister said that it was agreed during time of the previous government that federal government will pay 1/3rd of the cost of K4 water project in Karachi, adding that however, no money was ever paid and the project never took off the ground.
He said that it was the Pakistan Muslim League-Nawaz government that started giving funds for the K4 and ex Prime
Minister Muhammad Nawaz Sharif also agreed to pick 45 per cent of the total cost.
ECC approves landmark incentive package for new oil refineries
ISLAMABAD, Apr 27 (APP):The Economic Coordination Committee of the Cabinet (ECC) Friday approved a landmark incentive package for setting up modern new Deep Conversion Oil Refinery Projects, anywhere in the country, including expansion of existing refineries of minimum 100,000 barrels per day capacity.
The decision aimed at attracting investment in the country, came at the meeting of the ECC chaired by Prime Minister Shahid Khaqan Abbasi here at the Prime Minister Office.
The package would also be applicable to PARCO Coastal Refinery Project (PCR) and comes with a 20-year income tax holiday. It would include exemption from all duties, taxes, surcharges and levies on import, by the refinery project, its contractors or any other persons. It would be applicable on all machinery, vehicles, plant and equipment, other materials and spares and consumables for setting up, operation, maintenance and repair of the refinery.
The package also includes exemption from withholding tax and all other duties, taxes, surcharges, levies and import relating to foreign contractors, subcontractors and their personnel in connection with engineering, procurement, construction, commissioning, operation, maintenance and repair of the refinery. Sales Tax and Excise Duty on supply of locally manufactured building and construction of material, equipment and service for setting up of the refinery would also be exempted.
The meeting decided that the new refinery projects would be given a pricing mechanism which shall be no less favorable than the prevailing mechanism. The new projects would also be facilitated in project infrastructure such as Single Point Mooring (SPM), jetties, sub-sea, land pipelines etc. The package also grants waiver to applicable Development Surcharge on the value of exports under the EPZA Rules 1981 in case the refinery project is set up in the Export Processing Zone.
This decision would facilitate establishment of modern new refineries in any part of the country and would ensure sustained supply of petroleum products to various parts of the country at affordable prices, besides reducing the import bill of petroleum products.
Govt. finalizes hajj arrangements in Saudia: Sardar Yousaf
RAWALPINDI, Apr 27 (APP):The government finalized all the arrangements including accommodation, transportation, catering and others in Saudi Arabia for government Hajj scheme 2018 said Federal Minister for Religious Affairs Sardar Muhammad Yousuf.
Talking to media after taking oath from the elected members of Central Labour Union
Rawalpindi here on Friday he said, due to excellent Hajj arrangements made last year by the government in Saudi Arabia, record number of applications were submitted this year by the citizens for
government Hajj scheme 2018. The government has formulated a policy to facilitate the intending hajj pilgrims, he added.
The Minister said, the government was taking more steps to ensure better hajj arrangements.
Sardar Yousaf to a question informed that the government had fixed 67 percent quota for
the government hajj scheme and 33 percent for the private sector. The Supreme Court in a case gave verdict fixing 60 and 40 percent quota while the government has filed a review petition for additional seven percent government quota.
He further said, a quota of 10,000 was fixed for the applicants applying for last three years consecutively and 10,000 for the intending hajj pilgrims of over 80 years. He informed that training of intending hajj pilgrims has also been started.
He further said, the government had adopted a transparent policy for 2018 Hajj scheme,
adding different committees formed in this regard were approved by federal cabinet.
Minister hoped that the Supreme Court would soon give a verdict in Hajj quota review
petition.
Sardar Yousaf said, all out efforts would be made to facilitate the Hajj pilgrims in Saudi Arabia and best arrangements would be made like last years.
Govt committed to reduce diabetes burden: Saira
ISLAMABAD, Apr 27 (APP):Minister for National Health Services Regulations and Coordination, Saira Afzal Tarar on Friday said that the government was committed to reducing the burden of diabetes as one of four priority non-communicable diseases (NCDs) under the Universal Health Coverage.
Addressing the inaugural ceremony of diabetes clinic, the minister said that diabetes is on the rise – both globally and at national level and the government was striving to address this growing health challenge along with the global community.
She said that it is no longer a disease of predominantly rich as the prevalence of diabetes is steadily increasing among poor also. She said when diabetes is uncontrolled, it has dire consequences for health and well-being.
In addition, diabetes and its complications impact harshly on the economy of household and that of the country. People with diabetes who depend on life-saving insulin pay the ultimate price as catastrophic health expenditure, especially when services are lacking and complications of diabetes affect them at an early age.
She said that achieving universal health coverage is also the outcome of government’s National Health Vision 2025, endorsed by the Prime Minister in 2016.
The minister said that as part of the 2030 Agenda for Sustainable Development, Member States have set an ambitious target to reduce premature mortality from NCDs – including diabetes – by one third, achieve universal health coverage and provide access to affordable
essential medicines.
She said in Pakistan, cardio-vascular diseases have become the second top burden of diseases and diabetes is one of the largest factors for underlying cardio-vascular diseases.
With gradual increase of life expectancy in the country and changes in life styles, there are more and more people living with diabetes, which can result in life-changing complications.
The minister said that the prevalence of diabetes in Pakistan is estimated around 10 per cent among adult population in Pakistan, which is very high and unacceptable.
More evidence is required to understand the disease epidemiology in Pakistan, as the figures are alarming and underscore the urgent need for the government and private sector to work together
on preventive measures and to manage the illness and its complications.
The minister said that both government and the private sector should promote affordable and equitable access for all people with diabetes or at risk of diabetes to the essential medicines and technologies, self-management, education and information they require to achieve optimal diabetes outcomes.
She said that diabetes impacts not only individuals but also families and society. “Our policies should be driven towards prevention and care along with treatment procedures. We should also focus
to initiate awareness campaigns in schools and colleges to sensitize our youth about healthy lifestyle and preventing diabetes and other non-communicable diseases.”
She said that public private partnership has proved to be very beneficial in many health initiatives.
“Our Ministry in partnership with private sector is working on the National Diabetes Action Plan to curb the menace of diabetes.”
She urged that prevention strategies may be included in the action plan focusing on to avoid being overweight or obese, eat healthy, remain physically active, quit smoking and go for regular medical checkups.
LHCBA delegation calls on CM Shehbaz
LAHORE, Apr 27 (APP):A delegation led by President High Court Bar Association Anwaar ul Haq Pannu called on Chief Minister Punjab Muhammad Shehbaz Sharif, here Friday.
Talking on the occasion, Shehbaz Sharif said role of lawyers’ community was pivotal for ensuring the supremacy of law and justice.
“Lawyers’ community has rendered numerous sacrifices for the restoration of democracy and independence of judiciary. Lawyers’ community have to play its role more effectively for ensuring justice,” he added.
Chief Minister said socio-economic justice was necessary for the development of any society.
“If we want to move Pakistan forward then we would have to ensure the implementation of law and justice. Lawyers’ community will have to play its due role for ensuring justice to the common-man,” he added.
Chief minister assured the delegation that problems being faced by the lawyers’ community would be redressed on priority basis.
The delegation include Vice President Ch. Noor Samand, Secretary Hassan Iqbal Warraich, Finance Secretary Hafiz Allah Yar, Senior Lawyer Azam Nazir Tarar.
Provincial Minister for Law Rana Sanaullah, Secretary Law, Secretary to Chief Minister Punjab and other high-ranking officers were present on the occasion.
Traders hail federal budget
QUETTA, Apr 27 (APP):Pakistan-Iran Joint Chamber of Commerce and Industry President Haji Wali Muhammad hailed the federal budget 2018-19 and termed it balance and people friendly.
He said the government had allocated huge amount for agricultural, business and other sectors including health and education for providing relief to public.
Haji Wali said government had succeeded in presenting a people friendly budget within the available resources, adding by taking solid steps government had tried to provide relief to the industrialists and trader community.
Anjuman Tajiran Balochistan president Abdul Raheem Kakar said the government had presented best
possible budget that will help in boosting the national economy and trade activities.
He said huge funds had been allocated for functioning of Gwadar port under China-Pak Economic Corridor (CPEC) project that would boost opportunities of trade activities besides increasing jobs.
Balohcistan Truck Association president Haji Noor Muhammad Shawani said the government had presented an historic, progressive and business friendly budget for the year 2018-19 which would take
the country towards developments.
Punjab Assembly approves Regularization of Services Bill
LAHORE, Apr 27 (APP):Punjab Assembly passed the Punjab Regularization of Services Bill 2018 here Friday.
The House passed the bill soon after its introduction by suspending the regular legislative procedure. Provincial Law Minister Rana Sanaullah Khan and four other members debated the bill.
Earlier, the second sitting of the 35th session of the current assembly was started two hour and 23 minutes behind its scheduled time with Speaker Rana Muhammad Iqbal in the chair. Only 20 MPAs were present at the outset of the sitting.
The House did not hold Question-Hour on the request of Minister for Housing, Urban Development and Public Engineering Sultan Haroon Bukhari.
Law Minister Punjab Rana Sanaullah Khan introduced the Explosive Substances (Punjab Amendment) Bill 2018; the Punjab Witness Protection Bill 2018; the Punjab Government Servants
Housing Foundation (Amendment) Bill 2018; the Registration (Punjab Second Amendment) Bill 2018; the Punjab Fisheries (Amendment) Bill 2018; the Punjab Bonded Labour System (Abolition) (Amendment) Bill 2018 and the Punjab Agricultural Marketing Regulatory Authority Bill 2018. The Chair referred
these bills to the relevant committees with recommendation to present their reports on the bills within one month. He presented the Punjab Sound Systems (Regulation) (Amendment) Ordinance 2018
in the House which was also referred to the relevant committee.
The House deferred an adjournment motion of lawmaker Nabeela Hakim Ali due to delay in response from the government concerned.
Opposition lawmakers staged a protest against hasty passage of the Punjab Regularization of Service Bill 2018.
On completion of day’s agenda, the Speaker adjourned the House to meet again on Monday (April 30) at 2pm.