News Clipping - Archives July 2017


TMA HEAD OFFICE 

DATE: July 31, 2017

DAWN NEWS

Mega gas pipeline project requires ECC, Ogra nod

Committees formed to resolve oil transportation issue, review Ogra regulations

Lawmakers’ taxes

Businesses divided on verdict fallout

Are we heading towards the next IMF programme?

Can a stable monetary policy cover up fiscal ‘indiscipline’?

Economic ministries at a complete standstill

Good, bad and ugly of India’s new national GST journey

THE NEWS

B RECORDER

”Double taxation”: SHC admits petitions for hearing

Business community hails SC’s verdict

Dubai visitor numbers rise over 10 percent

Economy’s performance under Dar

DAILY JANG

DAILY EXPRESS

Increased trade deficit PTA with Indonesia to be cancelled under consideration

Commercial counselors having poor performance not yet removed

38000 refunds of textile sector likely to be deferred disclosed 


TMA HEAD OFFICE 

DATE: July 30, 2017

DAWN NEWS

‘20 business groups get 30pc of total bank loans’

THE NEWS

Anomalies in tax form likely to delay returns filing in 2017

FPCCI praises PML-N for political maturity

B RECORDER

DAILY JANG

DAILY EXPRESS

Petrol Rs 3.63, Diesel Rs 5.07 likely to be reduced Summary sent

FBR officials issued exemption certificate against law national kitty suffered loss

Court verdict business community expect economic stability

In open market dollar stands at Rs 108 Forex dealers

Business will not be sealed without proof chairman FBR


TMA HEAD OFFICE 

DATE: July 28, 2017

DAWN NEWS

Income tax paid by lawmakers fails to match their lifestyle

Regulator says half of fuel tankers fail safety standards

Govt considers slashing utility rates for exporters

Reserves down by $394m

Excise, Taxation & Narcotics Control Department government of Sindh

Hijazi ordered closing of sugar mills case, say SECP officials

THE NEWS

Safe tankers

Issues in the industry

Minister Dar vows greater openness in financial matters

FBR withdraws return non-filing cases against service providers

Forex reserves drop to $20.436bln

OGRA says 50pc of fuel tankers fail safety standards

‘Export package to be released within a year and half’

Indian businesses blindsided by unclear sales tax rules

B RECORDER

FBR releases fourth tax directory of MPs

Debt servicing: SBP”s forex reserves plunge by $1.14 billion

Export slide: Senate panel snubs MoC team for inaction

Nine firms to take part in ‘Intertextile Shanghai Home Expo’

Secretary textile assures exporters of resolving issues

‘Tevta is largest institute among Saarc countries’

Oil tankers’ strike

The downside of dollar borrowing

DAILY JANG

Billgates is no more worlds’ richest man

DAILY EXPRESS

CNG stations announced closure

Condemn trade policy

16% increase in textile exports is a good sign

Garments city paying revenue Rs 5 crore could not get gas


TMA HEAD OFFICE 

DATE: July 26, 2017

DAWN NEWS

Govt, oil tanker owners fail to find way out

SECP ordered to audit all foreign companies

Distribution companies told to refund Rs2.23 per unit to consumers

Rs102bn laundered through ‘gift back arrangement’

Profit repatriation rose to $2.1bn in 2016-17

Ishrat warns govt of election-year fiscal challenges

Exporters demand release of withheld funds

SC orders govt to block CNICs, freeze bank accounts of absconders

THE NEWS

Nepra cuts power tariff by Rs2.23 unit for June

Nepra slashes Rs2.23/unit in power tariff

Pakistan, US sign accord to explore trade opportunities

B RECORDER

Discos” consumers: Nepra approves Rs 26 billion refund for June

Oil tankers’ strike continues as negotiations fail

Export packages’ fund not yet disbursed, says KATI

Gas load-shedding: textile sector on the verge of collapse: PHMA

Prime Minister’s Incentive Package: PTEA voices concern over non-release of funds

Economy in the grip of cronyism

DAILY JANG

Slow release of export package  fund is a matter of concern president KATI

DAILY EXPRESS

Punjab Govt proposed to put ban on bringing cotton and yarn from out side

Skilled manpower to be prepared for textile sector

Dollar value increased against rupee in inter bank

Slow release of export package  fund is a matter of concern president KATI


TMA HEAD OFFICE 

DATE: July 21, 2017

DAWN NEWS

Value-added textile exports grow

Former PM Gilani summoned in 25 identical scam cases

Reserves dip by 2.8pc

THE NEWS

Pakistan loses textile export share in world market by 23pc

Devaluation another hazard for battered Pak market

Forex reserves fall to $20.83bln

Envoy invites US investors to explore Pakistan

B RECORDER

Textile exports: less than modest increase despite PM’s package

UK confirms ambition to increase trade with Pakistan

Pakistan offers favourable environment for US traders: envoy in Washington

Master bill of lading should be a mandatory document for import: Apparel Forum

The export slide

‘Pak-America bilateral trade witnesses steady upsurge’

Nothing more important than economic future of Pakistan: KATI

Country’s reserves decline to $21 billion mark

DAILY JANG

Forex reserves fall to $20.83bln

A forum will be organized by Jang today on who is responsible for fall of exports

If textile crisis not resolved than import will be reduced further

DAILY EXPRESS

Fall in textile export come to halt

Allowed to prepare statement under old company’s ordinance

Forex reserves fall to $20.83bln

Ministry of commerce will send a delegation to Europe to review GSP+


TMA HEAD OFFICE 

DATE: July 17, 2017

DAWN NEWS

IMF for ending inequitable subsidy on electricity tariff

K-Electric tariff

Understanding CPEC

China’s economy

Solar panels

A shock away from economic chaos

Fixed sales tax regime revised upward

WTO vote in Pakistan’s favour will go a long way

The economic impact of rupee depreciation

THE NEWS

Pak GDP in terms of purchasing power parity crosses $1 trillion

Textile sector collapsing slowly: ICST

B RECORDER

GSP Plus status: government may seek support for Continuation

IHC issues notices to Haroon, FBR chief, RTO officials

Real effective exchange rate: IMF warns further appreciation will erode export more

New FBR Member faces challenge to meet collection target

SCCI to hold expos of KP-made products at national & International

IMF’s assessment

Romping rupee

DAILY JANG

DAILY EXPRESS

$99 billion trade deficit in present government

Plan of industrial stitching units still not started

Small traders worry about textile structure

Government faces difficulties on free trade against with other countries 

To achieve economy target private and government partnership work together


TMA HEAD OFFICE 

DATE: July 16, 2017

DAWN NEWS

Facebook turns down govt request over cell phone numbers

Rain of new taxes possible

FBR chief transfers key officials

Refund payments begin

THE NEWS

‘Trade mechanism restructuring underway’

A mysterious rupee-dollar seesaw

Downside of trade

Pakistan for enhanced cooperation with France, says Zubair

B RECORDER

Macroeconomic indicators positive: GDP 10-year high; forex reserves raised: Dar

55 companies fail to file statement of compliance with SECP

‘No Hajj for Muslims if they oppose Ram Temple’

Export slide: causes and implications – II

Dar tells FBR chief to ensure achievement of revenue target

DAILY JANG

Steps are being taken to resolve tax payers issue Ishaq Dar

DAILY EXPRESS

Lac of refund to thousands of industrialists made 


TMA HEAD OFFICE 

DATE: July 12, 2017

DAWN NEWS

Rupee devaluation

KE prepares for crucial hearing

Trade deficit widens by 37pc to $32.5bn

Ogra, PC oppose deregulation of diesel prices

India’s SC suspends ban on trade in cattle for slaughter

THE NEWS

The dive of the rupee

June exports increase to $1.912bln as traders swoop on rebates

Chinese firms keen to develop special economic zones

Advanced gas turbines can cut inefficiencies, cost for local industry

FBR urged to ease import duties

B RECORDER

Government delays LNG deliveries

Money laundering: notices issued to businessmen, others

Trade deficit up by 36.32 percent in 2016-17

SBP analyses decline in textile exports

MCCI chief urges uniform trade policy for textile, non-textile Sectors

Moot on ‘Ino Cotton Grow Initiatives’ opens at NTU

Chinese delegation discusses industrial cooperation, CPEC Projects

Sindh governor to discuss tax-related issues with Prime Minister

Significant amendments to provincial Sales Tax Act

The financial stability imperative

The way forward

APBF urges government to check surge of dollar against PKR

DAILY JANG

In interbank dollar value reduced by 0.9 paisa in comparison to rupees

U.K’s cooperation in Pakistan’s various sectors is appreciable

Customs agent’s role in country’s economy is very important Tariq Pasha 

Cotton market official sport rate of cotton is on rising trend

Funds has been released for development of industrial area Jam Khan Shooro

In foreign investment role of commercial counselors is important Amir Ata Bajwa

DAILY EXPRESS

Rush of customers at KE office for rectification of bills

Trade deficit widens by 37pc to $32.5bn

Lahore chamber expressed concern on increased loans

Designated commercial counselor for European cities visited federation

Production of cotton likely to be less than the target in current year also 

Stressed to reduce tax from 70% to 30 % on import

PIAF demands govt to reduce electric tariff and release of all refunds immediately


TMA HEAD OFFICE 

DATE: July 10, 2017

DAWN NEWS

Investigation ordered into rupee depreciation

Taxing the poor

Sindh EPA website

Tariffs, trade and taxation

Has business community adapted to uncertainty?

Devaluation ‘is not the answer’

The slide saga

Will the revised trade policy work?

Understanding Companies Act 2017

Letter from Mumbai: India’s tax overhaul stirs hope and frustration

THE NEWS

FPCCI lauds government’s LNG policy

Swords crossed!

Counterfeiting anomalies?

B RECORDER

SBP governor asked to initiate inquiry into rupee plunge

FPCCI lauds government’s LNG policy

Mineral water can be calorie-free calcium source

SBP Governor: Huge task ahead

On textile and market linkages

Export slide: causes and implications – I

DAILY JANG

Increase in dollar price Governor SBP asked to submit report within 10 days

Trade deficit reached at its historical stage of 32 billion dollar

DAILY EXPRESS

Decline in exports govt decided to take action against trade officer at abroad

Concerned expressed on enhancement of sales tax on local sales of garments

Energy crisis reduced due to LNG policy Atif Ikram

SECP called cargo agents and exporters on high freight charges

Stressed to increase duties to overcome trade deficit

Govt should make amendments in FBR rules SM Muneer 

Zubair Tufail felicitation Tariq Pasha on appointment of Chairman FBR 

FPCCI failed in resolving businessmen issues


TMA HEAD OFFICE 

DATE: July 09, 2017

DAWN NEWS

The impasse continues

LCCI voices concern for local industries

Dar reviews budget implementation

THE NEWS

Economy in decline

FBR withdraws 2pc ST on lubricant oil supplies

SECP asks listed firms to appoint women directors

FPCCI felicitates FBR chief

LCCI demands local reps in CPEC

B RECORDER

Condonation of time limits: registered persons, taxmen allowed

FBR chief urged to widen tax net

FPCCI president felicitates Tariq Bajwa

Pakistan can double its exports by exploiting Chinese markets: FCCI

Memorandum on the Companies Act, 2017 – III

DAILY JANG

In interbank market dollar is costly Rs 1.40 paisa

DAILY EXPRESS

PM called meeting on issues of textile sector

Lady Director in companies will be double during 3 years

Ministry of industries could not start important development projects


TMA HEAD OFFICE 

DATE: July 06, 2017

DAWN NEWS

Sliding rupee

Penalty: non-filers

Rupee falls sharply against dollar

Pakistan, China agree to adopt uniform commercial codes

Current account deficit revised up by $1.7bn

Better policy for SEZs urged

Record volume of cargo handled at Karachi Port

Laptop ban on US flights from Dubai, Istanbul ends

Legal notice served on Sepa over controversial ‘public hearings’

THE NEWS

Rupee sheds 3.1pc to hit four-year low of Rs108.25 against dollar

FBR issues Rs8.2bln tax recovery notice to SSGC

Pak-Iran FTA talks from July 10

FPCCI president leaves for Tajikistan

Consultative session held

Chinese trade team due on July 10

B RECORDER

Rupee falls in likely devaluation

SBP says fall to address external pressures, help economy

Meeting today: Dar slams ‘artificial’ drop

Rupee’s moment of truth?

Dar invites Canadian investors to explore business opportunities

KPT handles record 52.49m tons of cargo in 2016- 17

Investable funds moving towards unproductive sectors: PBIF

Consultative session on CPEC’s SEZs held at LCCI

FCCI hails appointment of FBR chairman

Cotton versus sugarcane output

When things don’t work, regulate

Trade, energy & defence sectors: Pakistan, Tajikistan agree to focus on all avenues

SBP revises external sector statistics

NTC again becomes ‘dysfunctional’

DAILY JANG

Dollar become costly finance minister took notice action will be taken persons created artifical increase

E.P.Z achived this year export volue of more than 11%

Genius persons live longer research

Date extend up to 30th September for bank transaction of non filers of 0.4% 

DAILY EXPRESS

Uncertainity situation on dollar have wings stands at Rs.109.10 Dar took serious notice

US$ reached nearly Rs. 109/-

S.B.P declared positive step of appreciation of rupee

New record setup at Karachi port of handling containers

T.D.A.P board is ineffective for the last 15 months.

Proposal to setup automatic transparent system in FBR to stop tax evasion    


TMA HEAD OFFICE 

DATE: July 05, 2017

DAWN NEWS

Chinese experts to visit Special Economic Zone sites

Refund payments to start on 10th

FTA with Turkey at an impasse

Bangladesh ends search for survivors as factory blast toll hits 13

THE NEWS

‘Industrial progress under CPEC not to harm local industries’

Ogra’s proposals

Banks asked to report forex transactions under new codes

Pakistan’s import duties 4 times higher than global average

CPEC all set to steal spotlight at Saarc summit

FBR extends 0.4pc WHT timeline

LCCI pins hopes on new FBR chief

B RECORDER

Banking transactions of non-filers: FBR to charge 0.4 percent WHT up to September 30

Seed cotton Textile Ministry proposes Rs 3,000 support price

Development of SEZs under CPEC reviewed

Gas supply suspended to industry, CNG stations across Punjab

Process of tax refunds to small industries should be expedited: President

FPCCI to convene country’s biggest trade fair in October

Lasbela Chamber chief opposes further electricity surcharge

SC issues notice to TDAP secretary over restoration

Oil price decline

Tariq Mahmood Pasha assumes charge of FBR chairman

Solar panels exempted from duties till June 30, 2018

DAILY JANG

FPCCI announced to hold Pakistan international trade fair

Zubiar Tufail will accompany PM to Tajikistan today

Reports sought on water treatment plant and cleanness of sea

Tariq Pasha Chairman FBR hold meetings with officers after assuming office

DAILY EXPRESS

Submission of tax dues via on line experiment begins

Banking transactions of non-filers: FBR to charge 0.4 percent WHT up to September 30

FPCCI announced to hold Pakistan international trade fair

Textile board meeting under the chairmanship of PM expected

Consultation on new trade policy will begin from next week

All protection will be given to local industries


TMA HEAD OFFICE 

DATE: July 04, 2017

DAWN NEWS

Dar’s trusted aide appointed FBR chief

Amplified policy distortions

State Bank report

Black economy

Foreign firms sent home $1.9bn in July-May

Collection by excise dept increases 21pc

SBP to bring repo rate close to policy rate

US lifts laptop restriction for flights from Abu Dhabi

Eight dead in BD factory blast

THE NEWS

Tariq Pasha appointed FBR chairman

Pakistan Embassy in US served tax notice

Labour unions throw their weight behind Saeed Ghani

B RECORDER

Rs180bn package fails to arrest export slide

FTA 2006: China urged to restore margin of preference

Tariq Mahmood Pasha made FBR chief

LPG-Air mix plants in Sindh, Balochistan: SSGC briefs minister about progress

FBR issues customs related notifications

Eight dead in Bangladesh garment factory blast

Sindh E&T deptt makes 108pc tax recovery in 2016-17

PTEA for continuation of duty drawback of taxes incentive

All policies should be focused on country’s economic revival: LCCI

MCCI criticises FBR for missing revenue targets

Businessmen’s convention on 6th

Fiscal reform is no easy feat

Facts vs fiction

SBP’s thoughts on weak exports

Beware of the twin deficits

Ministry needs to build ‘institutional capacity’: PBC 

DAILY JANG

Tariq Mehmood Pasha appointed chairman F.B.R

Installation of air mix plants federal petroleum minister briefed

Pakistan South Africa business forum called on Pakistan’s high commissioner

Attached and freezed bank accounts of exporters be restored.

Parking fees at Jinnah terminal increased silently

Tax on more than 1800 cc vehicles reduced duty on imported fabrics enhanced

Notice served on Pakistan’s embassy at Washington to pay 70000 dollar tax

F.B.R issued notification of custom duty on more than 3000 item

DAILY EXPRESS

Air Port car parking fees fixed at Rs.90/-

Promotion on ties in textile sector chineese delegation arrives.

Land offerred to establish 3 air mix plants in Balochistan.


TMA HEAD OFFICE 

DATE: July 03, 2017

DAWN NEWS

Expanding the gas network

House of cards starts to tumble

Tax exemptions quandary

The commerce Ministry has decided

THE NEWS

“AD” Securities and Exchange Commission of Pakistan

B RECORDER

Government cashes in on global oil price decline

Textile imports/exports: Ministry mulling proposing 0.20 percent cess

Plea to appoint marketing personnel as commercial attaché

Non-payment of refunds posing threat to export sector: FPCCI

Genuine improvement in economy still elusive

KATI president demands one window service

DAILY JANG

Ishaq Dar after getting approval from PM will announce name of new chairman or acting chairman of FBR

DAILY EXPRESS

Taxes and public

Expressed concern on failure of achieving revenue target

PRGEMA and Chines chamber decided to increase trade

Applications invited for Inter Textile Shanghai

Access to bank account should be last resort Nasir Hameed

Enhanced trade deficit is dangerous for economy Atif Shaikh

Commercial bank and DFIS will remain close today

40% notable increased in import of machinery between May to July

1.88 billion dollar profit remitted abroad in last fiscal year


TMA HEAD OFFICE 

DATE: July 02, 2017

DAWN NEWS

‘Emerging Pakistan’ aims to woo Londoners

Reviving textile industry

Govt appoints Rehmatullah as FBR acting chief

US investors wary of inconsistent policies

India launches new single nationwide tax amid confusion

THE NEWS

Pak branding on London buses project ‘beautiful culture’

Foreign firms send $1.884bln home in 11 months

Customs South surpasses revenue collection target for 2016/17

SRB blocks taxpayers’ registration for non-compliance

India launches tax revolution amid business doubts

‘CNG prices cut due to declining trend in global market’

FPCCI to organise convention

Oppressive taxes, brutal spending

B RECORDER

ST notifications issued to implement budgetary steps

India’s border guards cross into China’s territory to stop road Building

Dar asks FBR officials to expedite tax collection process

KCCI attributes colossal losses to long bank holidays

Tax on undistributed profit of companies: Need for review and change – II

‘CNG prices slashed by Rs2.5/litre for Punjab & Islamabad’

MCC surpasses revenue target by Rs38.31bn

DAILY JANG

Foreign inverters send 1 billion 88 crore dollar abroad earned in Pakistan

Businessmen convention under the Auspices of FPCCI will be held on 6th July

Customs appraisement south cross the revenue target of 1 trillion  

DAILY EXPRESS

Garments textile leather steel products becomes expensive

GST imposed in India industries gone on strike

Demand to reduce pol price according to international market

Customs appraisement south collected record revenue collection of Rs 1060 billion

FBR loss of rs 121 billion in revised revenue target

BMG held responsible public for tariff jam

Govt will soon establish Exim bank Faisalabad chamber optimistic

FPCCI Lahore announced business convention on 6th July 


TMA HEAD OFFICE 

DATE: July 01, 2017

DAWN NEWS

Fiscal, C/A balances must be kept at sustainable levels: SBP

Rain slows down trade, industrial activities in Karachi

SRB collection jumps 28pc to Rs78bn

Punjab to miss revenue target

Several UK banks stop selling Qatar riyals

Meagre cut in petrol, diesel prices

THE NEWS

Haj flight operations to start from July 25

Govt reduces petrol, diesel prices by Rs1.5 per litre

Weak exports, tax revenue risk to economic growth: SBP

FBR recovers Rs52 billion through tax audits

Third party scrutiny must to curb tax evasion across industries

B RECORDER

US travel ban takes effect

Prices of petrol, HSD slashed by Rs 1.5 per litre

SBP links higher growth prospects to increased activities

Central bank for regulatory measures to slash imports

Industrial sector’s constrained performance fails 5.7 percent GDP growth target: SBP

LCCI for more trade with Australia

Experts criticise FBR for adding more staff instead of improving performance

‘EXIM Bank Pakistan will play major role in enhancing exports’

Textile sector’s case

PHMA voices concern over constant decline in textile exports 

DAILY JANG

Price of petrol and diesel reduced by Rs 1.50 kerosine oil and light diesel price remain constant

FBR achieved actual annual revenue target of Rs 3421 billion

National economy stands stable regime of speedy progress begins

Notable increase in Pak-France trade and investment will be made

Import price of LPG reduced by Rs 3100/ per ton in Pakistan

One window service be introduced to overcome industrial issues

DAILY EXPRESS

Govt establish 10 LPG air mix plant decision taken

Keen to increase trade between Pakistan –Australia Nayla Chohan

Govt should resolve exporter’s problems vice president FPCCI