News Clipping - Archives November 2015


TMA HEAD OFFICE 

DATE: November 30, 2015

DAWN NEWS

ECC takes up today Rs40bn tax proposals

Neglected SME sector

Need for Islamic Interbank Offered Rate

THE NEWS

ECC meets today to levy Rs40 billion new taxes

Pinning hopes on SMEs

B RECORDER

Nepra adding to consumers'' woes

Mobile phones: ST should be collected at import stage: PTA

Textile sector: MCCI for reducing cost of doing business

Virtual collapse in foreign investment

DAILY EXPRESS

Decision taken to hold prices of POL constant

Textile sector was expecting relief package


TMA HEAD OFFICE 

DATE: November 29, 2015

DAWN NEWS

Luxury items

Companies Bill 2015 to facilitate corporate sector

Textile units face closure

Extension in returns filing date sought

THE NEWS

Punjab to get gas this winter: minister

‘Unemployment in textile sector on the rise’

Passing the litmus test of GSP Plus

Azerbaijan envoy invites Pak businessmen to exhibition

Bangladesh bans Facebook

B RECORDER

Energy projects under CPEC: China concerned at tax, power tariff, security issues

Import duty slabs may be raised by 1 percent from December 1

Trade fair: India slaps penalty on Pakistan, Bangladesh stall

Punjab textile workers: unemployment on the rise due to delay in release of package: APTMA chief

FCCI chief concerned over cut in gas quota for industry

Concern expressed over raise in gas tariff

Concrete steps needed to resolve water crisis: PBIF chief

CNG stations to be closed for 4 days a Week

KTBA urges FBR to extend date of filing returns to December 31

Companies Ordinance 1984 being replaced: draft Companies Bill 2015 presented to Dar

'Economy's woes': MoF's response

DAILY EXPRESS

Exports on declining trend since 4 months

Textile expots pakistan demands from Japan incentives equivalent to competitive    countries

Benefit of reduction in P.O.L prices be passed on to public

RD on yarn 

Turkish Consul General Visits Karachi Chamber


TMA HEAD OFFICE 

DATE: November 28, 2015

DAWN NEWS

Privatisation proceeds to be used to clear off Debt

Ogra suggests reduction in petrol, kerosene Prices

New revenue measures

Non-textile exports decline 22pc

PTEA slams cut in gas supply quota

THE NEWS

Rs40 bn demands to be generated through 75,800 tax cases, IMF told

‘World sees Pakistan as emerging economy’

Bank deposits climb sevenfold to Rs9.153trln in last 15 years

Millers seek SCCI’s help in lifting Bangladesh jute export ban

Textile exports may fall further

FBR urged to stop harrassing businessmen

B RECORDER

IMF loan only to strengthen forex reserves, National Assembly told

Punjab government abolishes ST on internet services

Imposition of new taxes: KPCCI chief urges government to withdraw decision

Dr Iqbal made FBR official spokesperson

Reduction in all input costs: PRGMEA urges Prime Minister to intervene to finalise policy

Business climate in Pakistan: security, energy, governance challenges still there: Inomata

Cut in petrol price, hike in HSD Recommended

Textile export slide renders GSP Plus opportunity irrelevant

DAILY EXPRESS

Ogra sent summary for minor decrease in pol products

Ministry of finance expressed concern on decline in exports worth 1 billion dollar during 4 months

Demand for giving powers to custom officials according to law

Ban on jute Pakistani mills called to saarck chambers for help

E-commerce frame work will be introduced soon in Pakistan

Pakistan Korea agreed on FTA


TMA HEAD OFFICE 

DATE: November 27, 2015

DAWN NEWS

Widening the tax net

Four-month FDI outflow higher than inflows

Business leaders urged to promote ‘brand Pakistan’

FBR withheld Rs88bn refunds to dress up collection figures

Sindh to simplify taxation process

Reserves at $19.83bn

THE NEWS

Pakistan, Germany to exchange trade delegations

The non-filers club

Tax on luxury items imposed to discourage imports: Dar

Forex reserves rise to $19.828bln

‘Amnesty for tax evaders must go to increase revenue collection’

LCCI assured of sorting connection, overbilling issues

Govt assures to address American investors’ issues

TDAP combines SAARC Trade Fair, WEXNET

B RECORDER

Rs 136 billion GIDC dues: government, other stakeholders fail to reach decision

Import of vehicles: plan under study to impose RD

Refund claims: out of the box solution under consideration

Exports on a nosedive

Forex reserves up by $115 million

TDAP to hold SAARC trade fair, WEXNET next month

The travails of investors

Case for 'NTA'

Government urged to address business community's issues

DAILY EXPRESS

Malaysia can become big market for Pakistan products

ECC meeting will held of Monday Rs 40 Billion new taxes likely to be levied

American investors will be provided all possible cooperation

Calendar of Namaz issued Friday prayers will be held at 1:30pm in country through out    


TMA HEAD OFFICE 

DATE: November 26, 2015

DAWN NEWS

Finance ministry yet to release Rs28bn under EDF

NA adopts Companies Bill

Dubai property prices to fall 3-5pc

Extensive tax hike in the offing

Swatting away the deficit

THE NEWS

CJ asks: Will we keep on living by begging?

Duty on 313 imported items to go up in 72 hours

Private sector lending likely to increase in coming months

Finance Ministry refuses to release EDF worth Rs28bln

‘Pakistan lacks warehousing, storage facilities’

Korean envoy keen for FTA with Pakistan

Pakistan unanimously elected to chair key WTO body on trade

B RECORDER

NA passes anti-money laundering, other Bills

SBP sees surge in private sector lending

Rs 40 billion revenue steps approved by Prime Minister

FDI virtually collapses, says Pasha

Exchange of trade delegations to commence from next year: German envoy

President terms business community 'an invaluable asset'

Government urged to bring untaxed sectors into tax net

TDAP set to gear up plans to increase exports: CEO

Urgent transfer fee doubled by LDA

'Zero loadshedding' for industry, Abid tells NA

SECP directs companies to publish proxy form in Urdu, English

Environmental pollution Centre, provinces asked to submit report

'Pakistan's tax policy should focus on broader tax base'

E-filing of income tax returns: FBR to decentralise IRIS system

Refund claims: PRGMEA threatens to go on Strike

FPCCI urges government to resolve exporters' issues

South Korean envoy for increased trade Volume

The fault lies not with FBR alone

When VAT becomes chargeable

Punjab FPCCI: Azizur Rehman nominated as VP candidate

Afghanistan and India: business community opposed to allowing transit trade

Textile still down

DAILY EXPRESS

Short fall in bank deposits banks dependency on loans increased

Withholding tax issue will be resolved in current month

Concern on decrease in trade between Korea and Pakistan 


TMA HEAD OFFICE 

DATE: November 25, 2015

DAWN NEWS

Analysis: Economy: where are the borrowers?

Monetary policy fears

Dar reviews steps to achieve revenue target

Exporters blame govt for falling proceeds

Dollar strengthens against rupee

THE NEWS

Ogra raises UFG volume by 2.5pc adding more burden on consumers

FBR chief resolves to check tax evasion

Sindh urges FBR to save taxpayers from double taxation

Investors’ fears about investment climate dissipate

APCNGA rejects additional sales tax demand

‘China’s economic slowdown,Fed hike likely to dominate globalmarkets’

LCCI urges govt to bring all sectors into tax net

B RECORDER

Foreign investors' Rs 45 billion tax refunds: a skeleton in the closet of federal tax collectors

LCCI urges government to cover all untaxed Sectors

IT returns: FBR urged to extend date

Dip in towel export feared

APCNGA warns of strike if grievances not addressed by November 30

Banks: outlook upgrade by Moody's

Monthly adjustment: Rs 1.81 per unit refund for October 2015 likely

Prime Minister may approve new revenue generation measures

DAILY EXPRESS

Saudi Arabia UMMRAH Season begins and will continue till 30th July

High cost of doing business alarms towel sector

Date of filing of income tax return be extended by one month


TMA HEAD OFFICE 

DATE: November 24, 2015

DAWN NEWS

Textile exports decline 7pc in July-Oct

‘Free gas a misconception’

THE NEWS

New tax amnesty scheme for traders in the offing

‘Inconsistent policies cause energy deficit’

Global changes bring new economic opportunities: LCCI

B RECORDER

Books of account and records may be maintained for six years

Government urged to improve gas, water supply to Site industries

Contravention of Listed Companies Ordinance: SECP reduces aggregate penalty on three associated firms

Unchanged monetary policy stance

Traders ask FBR to simplify ST return Process

DAILY EXPRESS

Textile exports decline 11pc in October

Rs 37 Billion duty and tax evasion detected during 3 years

Exports target likely to be given to trade missions abroad under consideration


TMA HEAD OFFICE 

DATE: November 23, 2015

DAWN NEWS

Will SBP’s autonomy deliver?

THE NEWS

Tax of billions evaded, black money whitened every year

Taxation New guards

B RECORDER

MPS: There's nothing to read betweenthe Lines

MCCI chief hails Monetary Policy

Budgetary targets: IRAOs urge FBR chief to provide equal opportunity to all

FBR's IT system not responding to new filers

PKR depreciation

Revenue shortfall: FBR to impose Rs 20-25 billion taxes: senior official

DAILY EXPRESS

Issues of traders and industrialist will be resolved on priority basis

Schedule banks become helping hands to govt loans


TMA HEAD OFFICE 

DATE: November 22, 2015

DAWN NEWS

Interest rate unchanged at 6pc

State Bank holds fire on policy rate

Sindh property tax collection jumps 30pc

THE NEWS

SBP holds key interest rate steady at 6.0pc

LTU Karachi collects Rs298bln in July-October

India to phase out tax exemptions

Double duty for working women

SHC grants protective bail to businessman in sales tax refund case

B RECORDER

Policy rate kept unchanged on PKRwoes, other factors

HIGHLIGHTS

Immunity to personal remittances: TRC proposal not supported by government: FBR

Country's exports shrink by $984 million due to global recession: Muneer

Ishrat cites factors behind performance of public companies

Textile leader calls for end to sectoral Bickering

Bank charges collected as per Nepra's own directives: KE

Section 237 of Companies Ordinance: listed, non-listed companies must comply with requirements: SECP Bench

DAILY EXPRESS

Preparation to bring mini budget on the demand of IMF

Interest rate unchanged at 6pc

Amnesty scheme under consideration for making property abroad

FBR portals out of order for the last one month tax payment halted

Investment in national saving schemes reached to Rs 105 Billion

Pakistans Traders and industrials delegation will leave for Istanbul in current week 


TMA HEAD OFFICE 

DATE: November 21, 2015

DAWN NEWS

LSM grew 4pc in July-Sept

No proposal under study to give India MFN status, NA told

THE NEWS

Reshuffle in FBR carried out

Rauf stays as FTO

LSM growth clocks in at 3.88pct;business leaders cast doubt

FBR to launch online verification of LCs to curb under-invoicing

Drop in investments in India top concern

SBP likely to hold rates after inflation pick-up

Expansion in tax net needed

‘For Pakistan’s textile workers, wages remain undignified’

B RECORDER

Black money held abroad: FBR ''''agrees'''' to TRC proposal to amend forex rules

MPS today: Key policy rate may be kept Unchanged

CGT, taxation of remittances: World Bank assisting FBR in carrying out analyticalstudies

Transfers & postings in FBR

Financial inclusion: ADCs open up opportunities of growth: Wathra

PFVA lauds performance of TDAP chief

The economics of lying

Bank levy, refunds: FBR to brief National Assembly panel on November 26

DAILY EXPRESS

ALISHAN Pakistan exhibition will be held in Huston

Monetary policy will be announced today


TMA HEAD OFFICE 

DATE: November 20, 2015

DAWN NEWS

Dar seeks Russian investment

Reserves at $19.71bn

Delay in new trade policy hurting exports

International Trade Exhibition TEX WORLDDar seeks Russian investment

THE NEWS

No alarm bells

The WHT expert

Russia offers LNG to Pakistan

Pakistan’s July-October current account deficit narrows to 0.5pct of GDP

Banks charge over 7 percent to transfer money internationally

China c.bank cuts borrowing costs, eyes market-based rates

Forex reserves slip

„Bifurcate FBR, create infrastructure finance bank

B RECORDER

Energy shortages likely to worsen next Month

Business capital only: FBR may offer conditional immunity from audit

July-March CA deficit down 46 percent

Revenue targets: 'FBR should immediately stop negative tactics'

Nepra dismisses review petition: K-E ordered to refund 'Rs 1.5 billion' collected under bank charges

Transfers, postings in FBR

Taxpayers facing problems in filing ST returns online

SHC directives: valuation rulings older than 90 days being revised

DAILY EXPRESS

One page return form ready for withholding tax

People in Punjab will suffer 7 hours gas load shedding

FBR advertisement

Stressed to prepare National Economic Policy for economic growth

Forex reserves dip by 3 crore 33 lac dollar

Issued quarterly report on budget

SROs made failure trade policy of Pakistan

40 billion mini budget will be unacceptable


TMA HEAD OFFICE 

DATE: November 07, 2015

DAWN NEWS

Rs40bn additional tax measures soon to meet fiscal deficit: IMF

Books import almost halved in 2014-15

Fashion designers, salons to pay for ‘nil’ Returns

Investment conference

Port charges to be brought at regional level, says minister

S. Korea to import raw material from Pakistan

Mandatory e-filing for exporters

THE NEWS

Reforms reduce risks to Pak economy: IMF

Senate body against another IMF loan

The new tranche

Entrepreneurs dominate textile value-addition sector

‘Pakistani businessmen should adopt marketing strategy’

SBP to remain open on November 9

B RECORDER

Rs 40 billion revenue shortfall has to be bridged through new tax steps

FBR to tell ministry: 5 percent GST and zero percent GIDC applicable to imported RLNG

FBR to promptly guide taxpayers through helpline facility

GIDC imposition: CNG stations owe Rs 40 billion, Senate body told

FBR clarification

Senate body on finance meets IMF team

Seminar on business opportunities Begins

Sindh notifies minimum wages

Partly Facetious: Dar doesn't say 'please' to his subordinates

Government urged to treat allexportoriented sectors equally

Faysal Bank launches World Credit Card

Bangladesh exports in October up 21 Percent

Carbon tax proposal

Prime Minister's four 'Es'

DAILY EXPRESS

Canadian High commission seeks consular access for Dr Asim

FIA submitted report of 2 offenders of TDAP scandal

Forex reserves Pakistan should not take new loan otherwise next generation will become slaves

FBR has introduced E-form facility in WEBOC 


TMA HEAD OFFICE 

DATE: November 06, 2015

DAWN NEWS

Water shortage worsening: Wapda chief

Nadra’s smart card yet to be linked to related Departments

Apex court allows PTA to relax limit on SIMs

Public Notice

Factories of death

Driving sans licence

‘Pakistan must comply with GSP+ conditions’

One million spindles shut down: Aptma

Economy needed to be delinked from politics: Dar

Reserves at $19.81bn

Tax proposals

THE NEWS

IMF to release 10th tranche of $502m by mid-Dec

Unsafe workers

Water banking

Billions being minted by misuse of monthly fuel adjustment

Dar asks investors to bring innovative ideas for tax reduction

EU finalising report on Pak progress on 27 conventions

FBR obtains tax defaulters’ banking record from Nadra

Pakistan Economic Forum in Nov

Forex reserves fall

‘Investment not possible without ease of doing business’

‘Pakistan’s business potential phenominal’

SC removes five SIMs restriction

FBR urged to fix IRIS

B RECORDER

IMF talks ''successful'': Fiscal deficit, NDA targets missed

Slippage in ease of doing business cause of concern: Dar

FBR officials, businessmen discuss ST Issues

Five voice & three data SIMs allowed against each CNIC: PTA tells Supreme Court

Time to account for the unaccounted Gas

PCJCCI chief for setting up of 'Pak-China Knowledge Corridor'

IRIS system: FBR urged to resolve issue of inactiveness

Bangladesh's interbank forex, interest Rates

Leading export-oriented sectors: Ministry backs restoration of ST zerorating regime: Dastagir

'Online filing system be protected from fraudulent, unauthorised use'

Dastgir terms GSP Plus incentive great Success

NAB arrests forex firm director

TDAP chief accused of interfering in FPCCI affairs

High cost of doing business: over 1 million spindles closed down in three months: APTMA Chairman

E-filing of IT returns

What are taxes for?

DAILY EXPRESS

Pakistan decided to impose additional tax of Rs 40 Billion

TDAP scandal Tariq Puri declared absconder

Water board started supplying water at govt Rate

Agreed to levy GST mandatory on electric bill exceeding Rs 50,000/ per month

Durabiuty of factory and commercial buildings will be examined

Constructions are not allowed at open space in industrial areas

Unbearable cost of doing business

Multinational companies have also declared refund issues impotent

Equal export refinance rate demanded for all exports sector 

Textile sector becomes united on gas tariff issue

12.5% exports increased to European Union

FPCCI election 7 more chambers supported UBG

TDAP chief using in fuence on election

Forex reserves fallen by 71 lac Droller


TMA HEAD OFFICE 

DATE: November 05, 2015

DAWN NEWS

Pakistan to host Saarc conference onanticorruption

PM reassures investors of conducive Environment

Guidelines issued to check forgery in pay orders, DDs

Active websites mandatory for companies: SECP

80pc banks cite stringent laws a top Impediment

Gas utilities want 50pc more in security deposit from domestic consumers

Traffic campaign called off, more driving licence branches planned

THE NEWS

World paid$49.95 bn in 15 years to compensate $107 bn Pak losses

‘International conference to attract foreign investment’

Government urged to remove obstacles to internet access

B RECORDER

International moot to help attract FDI: LCCI

Appointments of 'sector specialists': IOCO found guilty of violating Requirements

Layout, security: SBP standardizes Pos and DDs

RD imposed on import of cotton yarn without ECC approval: PAF

80 Pakistani firms to showcase products at IITF

Canadian firms being encouraged to visit Karachi: envoy

PRGMEA urges government to announce relief package

US economic data seen supporting December interest rate hike

Where are our commercial counsellors?

DAILY EXPRESS

Burden of gas theft should not put on paying consumer

Protocol be provided to prominent tax payers

Govt should impose duty on export of yarn

Negative thought against Pakistan is big hurdle of investment

Japan removes obstacles on export of Pakistan


TMA HEAD OFFICE 

DATE: November 04, 2015

DAWN NEWS

Carbon emissions tax

CNIC replaces tax number

CDNS enhances investment limit

Cotton output falls

Cut in refinance rate sought

THE NEWS

No record of ruling elite’s tax history with FBR

Water problem

FBR expects boost to tax revenue collection

Unresolved glitches in online tax system irritate filers

Operational improvements can reduce energy consumption by 20 percent

Revenue body suspends three auditors of Inland Revenue

Global cotton trade remains competitive: ICAC

Corporate entities urged to expand coverage of activities

Govt urged to resolve WHT issue

B RECORDER

New taxpayers: FBR IT system fails to generate ''PSID''

E-filing of IT returns: FBR tells individuals to first obtain e-enrolment

WHT on banking transactions: LCCI urges government to resolve issue as per businesspeople's wishes

Textile package: Aptma preparing for meeting with Dar

Trade officers: Commerce Ministry completes interview process

Cotton arrival 22.87 percent less: PCGA Report

No holiday on Iqbal Day

PLGMEA demands reduction in export refinance rate

KE consumers to suffer more by new tariff formula

Demand to raise imported gas price may be fatal blow: PBIF

Should power sector reforms precede privatisation?

Non-Performing Loans: Banks issue warning letters to TMA members

DAILY EXPRESS

Production of cotton increased by 18 bales only during 15 days

Banks blamed for harassing textile exporters


TMA HEAD OFFICE 

DATE: November 03, 2015

DAWN NEWS

Banks told to mention defaulters for one year

Pakistan inches forward on world business Index

Two authorities empowered to levy workers Fund

HR compliance

Business rankings

THE NEWS

LCCI preparing report on ease of doing business in Pakistan

Delay in FBR’s tax refund report annoys SC

Documents show Pak founding leaders were regular taxpayers

B RECORDER

China gives currency biggest boost in a Decade

Constitutional, computational: KTBA seeks SRB's clarification on WWF issues

Lifting ban on new gas schemes: Ministry seeks PM's approval

Nepra's act of convening public hearing in Islamabad flayed

Overdue/write-off will continue to reflect in CIB for one year: SBP

Quality Control Review Non-listed companies directed to facilitate auditors

Rates fall as imports of cotton begin from India

Sartaj suggests carbon tax to deal with climate change

SECP fixes Rs 3,000 fee for filing online Return

Textile package: APTMA delegation likely to meet Dar next week

Textile package being introduced Piecemeal

Wilful defaulting companies not to enjoy benefits of listing: SECP

LCCI preparing report on 'Ease of doing business in Pakistan'


TMA HEAD OFFICE 

DATE: November 02, 2015

DAWN NEWS

GSP Plus review

VAT vs a single tax regime

THE NEWS

Another argument being raised is that why should Pakistan continue to seek foreign loans

Patching the system

B RECORDER

WHT imposed on Prism transactions

Feroze1888 Mills’ epic first quarter

Businessmen urged to adopt e-trade

FBR's decision to set up regional bodies widely hailed

WTO's TFA

DAILY EXPRESS

P.O.L Prices enhance

Cotton prices reached its peak to Rs 800 per mound in the current season


TMA HEAD OFFICE 

DATE: November 01, 2015

DAWN NEWS

Petrol, diesel prices raised

Industrialisation takes a back seat in Sindh

IT returns deadline extended to Nov 30

THE NEWS

Petrol dearer by Rs2.50, diesel by Rs1.75

“Pakistan soon to become source of economic prosperity

New company, association of persons need to pay advance tax

Aptma termed duty on cotton yarn justified

B RECORDER

Prices of petrol, HSD up by Rs 2.5 & Rs 1.75 per litre

IT Amend Ordinance 2015 promulgated

PRGMEA seeks relief package

WHT on bank transaction: FBR extends time period up to November 7

10 percent RD on yarn import: Chairman APTMA terms decision prudent

Dar reviews TRC recommendations

DAILY EXPRESS

Advertisement published in Daily Express of SMA Rizvi Textile Institute

Due to afraidness of IMF evasion in tax data un earthed

Notification issued regarding 0.3% banking transaction

Income tax retune filed 41% less till 30th October

Production of large scale manufacturing sector increased by 4% during July to June

New audit policy of FBR challenged in High Court