Daily Archives: July 1, 2018

Chief Secretary Sindh seeks progress report of development schemes within 3 days

Karachi, July 01, 2018 (PPI-OT): Chief Secretary Sindh Major ® Azam Suleman Khan has sought the progress report of various development schemes within three days from the Planning and Development Department, preferably the reports of public health department, special initiative department, works and services department Sindh Coal Authority and Thar development Schemes, should be furnished, he added.

Presiding over a high level meeting to this effect, Chief Secretary Sindh also desired reports regarding handing over of schemes to the lined departments by the concerned sponsoring departments. He maintained that reports about completed, satisfactory, ongoing schemes must be defined in the respective reports. Major ® Azam Suleman Khan emphasized upon the secretaries and concerned officers to themselves attend the meetings, otherwise, due to any specific emergency, the responsible officer be sent to represent in the meetings.

Those who attended the meeting, held on Sunday include Secretary Finance Dr. Noor Alam, Secretary Planning and Development Department Dr. Shireen Mustafa, Secretary Energy Rashid Hussain Kazi, Secretary Local Government Khalid Hyder Shah, Secretary Works and Services Abdul Raheem Shaikh, DG Sindh Coal Authority Abu Bakkar Ahmed, Metropolitan Commissioner Dr. Saif ur Rehman and other senior officers.

For more information, contact:
Information and Archives Department
Directorate of Press Information
Government of Sindh
95-Sindh Secretariat 4-B, Karachi, Pakistan
Tel: +92-21-99204423, +92-21-99204401
Email: pressinformationzubair@gmail.com
Website: http://sindhinformation.gos.pk

2000 keeker trees stalled at Hill Park Karachi for greening of Karachi

Karachi, July 01, 2018 (PPI-OT): The people of Karachi including women, men, children and Senior citizens will take their volunteers participation roll in installing 2000 keeker trees for greening Karachi and kick- off their first initiative today on Sunday 1st July, 2018 at Hill Park Karachi. A of number Large Senior citizens, women, men, youngsters, students will install keeker trees today at Hill Park Karachi. The keekar trees has been provided by renowned and famous personality Tofique Pasha for plantation in Karachi, he has provided 2000 keeker trees.

The Citizens of Karachi will install these trees at Hill Park and started Plantation campaign through out of Karachi. It is observed that by the passing of time the numbers of trees in Karachi has been reducing comparatively other cities unfortunately, the most harmful and alarming activities are the chopping of trees is increasing day by day in Karachi and by the result scorching and heated weather prey the citizens, hence trees are only way and natural sources to calm down the heat.

In last 2 to 3 years a number of citizens was died due to this drastically changed of weather and suffer from different types of diseases, Now this plantation campaign has been started so that we could contribute to control the scorching heat weather and 2000 keeker trees must help us for providing shade and also fruit providing toll trees. These trees will help us to green Karachi and also shaping into a Karachi green in future.

For more information, contact:
Information and Archives Department
Directorate of Press Information
Government of Sindh
95-Sindh Secretariat 4-B, Karachi, Pakistan
Tel: +92-21-99204423, +92-21-99204401
Email: pressinformationzubair@gmail.com
Website: http://sindhinformation.gos.pk

Hike in petroleum prices unacceptable: FPCCI

Karachi, July 01, 2018 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Sunday said the second hike in the petroleum prices in a short span is unacceptable terming it a major blow to the poor. The upward revision in the petroleum prices will damage the masses and the economy, therefore, it should be immediately taken back in the national interest, it said.

The government is increasing the prices of petroleum products with a rapid pace which amounts to pushing poor masses to hell that will also increase the crime rate, said Ghazanfar Bilour, President FPCCI. In a statement issued here today, he said that price of petrol has been increased by Rs 7.54 per litre while the price of diesel has been increased by Rs 14 which will increase the price of necessities and cost of transportation.

The government should eradicate poverty and not the poor through the frequent hike in petroleum prices and other moves, he demanded. Ghazanfar Bilour said that masses are being burdened beyond their power as the government has again decided to break their back by stoking inflation.

The government refuses to collect taxes from the elite and prefers to burden the masses and the business community reeling under multiple problems, he added. He said that the recent increase in petrol prices will unleash inflation upon the poor people and demanded that the government revoke the order immediately. The caretaker government should not remain unconcerned to the plight of masses who have nothing to do with the bad policy decisions, he demanded.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi, Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

State Bank celebrates 70 years of professional excellence amidst acknowledgement from cross sectionof society

Islamabad, July 01, 2018 (PPI-OT): State Bank of Pakistan (SBP) celebrated its 70 years’ anniversary on Sunday July 1, 2018 with a number of programs taking place simultaneously at the Bank in Karachi. These activities were aimed sharing the 70 years’ history of SBP and bridging the information gap on various functions and achievements of SBP and its subsidiaries. The programs were attended by a cross section of society, particularly school children. The Bank organized an insightful panel discussion on this historical occasion covering a wide variety of topics including macroeconomic management, SBPs conduct of monetary policy and role in promotion of credit extension to priority areas and use of digital innovations and technology in providing banking services.

In this discussion current as well as previous SBP governors including Governor SBP Mr. Tariq Bajwa, Finance Minister and the former governor Dr. Shamshad Akhtar, Dr. Ishrat Husain, Mr. Yaseen Anwar and Mr. Ashraf Mahmood Wathra participated. The participants shared their thoughts and candid views on their experiences and future vision for the Bank and congratulated executives and staff of the SBP for achieving several milestones in its 70 years’ journey. Governor SBP Mr. Tariq Bajwa in his concluding remarks stated that the SBP had always strived to living up to expectations of Quaid-e-Azam pertaining to professionalism and forward-looking approach in discharging its mandate.

A special documentary focusing on the history of the SBP was also screened during the seminar. The documentary portrayed challenges confronted by the Bank right after its inception, and its subsequent journey towards professional excellence. Governor Sindh Mr. Muhammad Zubair, former SBP governors, the SBP Board members, diplomats, media personalities, presidents and CEOs of commercial banks and dignitaries of the city, attended the seminar.

On this special occasion, the Bank organized special exhibitions and Open House session that remained open to public and ran throughout the day. Mr. M.W Farooqui, the senior most employee of the Bank inaugurated the Open House at the age of 95 years. Mr. Farooqui has the distinction of attending the inauguration of State Bank of Pakistan by Quaid-e-Azam Muhammad Ali Jinnah on July 1, 1948. Visitors from different walks of life were enthralled to be part of festivities that were started at Museum and Art Gallery and the Main Banking Hall.

Dr. Shamshad Akhtar inaugurated the exhibition and unveiled the commemorative stamp issued by Pakistan Post. Mr. Akbar Ali Dero, the Postmaster General, Pakistan Post was also present on this occasion. Enlarged images of the stamps issued earlier were also displayed while a corner of the Museum was dedicated to the photographs of the past SBP governors along with coins and currency notes issued during their tenure. The general public turned out in droves in Open House session.

In order to provide the public maximum information on this day in a befitting manner, special counters were set up for the sale of Commemorative Coins and Prize Bonds to visitors. There was an exhibition of Currency Cycle and the stalls showcased Currency designing and printing processes and live demonstration of Currency notes examination machines, prize bonds draw. Live demonstrations of Desktop Notes Sorting (DNS) and Countertop Notes Sorting (CNS) machines; and Video display of state of the art notes processing system (BPAS Machine used by SBP) was also arranged for the interest of general public.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Water shortage to hit crop targets

Karachi, July 01, 2018 (PPI-OT): Severe water shortage in Pakistan is set to hit targets of major crops threatening livelihoods of farming communities and highlighting the issue of food security, a business leader said Sunday. The government has set a target for sugarcane at 68.157million tonnes, rice at 6.931million tonnes, maize at 5.3million tonnes, and cotton production at 14.37 million bales which is difficult to achieve as crops are threatened by the shortage of water, he said.

The target of mung, mash, chilies, and tomato is also difficult to achieve, said Malik Sohail Hussain, former senior vice president of ICCI. He said that years of neglect has resulted in the shortage of water for all the sectors of the economy while agriculture is the worst-hit sector as it is facing shortages up to fifty percent at some places.

Malik Sohail said that climate change, less winter snow cover, low rainfall and wastage of water has added to the severity of the situation. The substandard seed, low-quality pesticides, costly urea, increasing price of fuel and difficulty faced by farmers in acquiring credit will also contribute to the low yield of major crops, he added. The reduced cotton crop will not only hit textile exports but also waste foreign exchange as a result of cotton imports, he observed.

He said that wheat production this year is expected to be 25 million tonnes which will add to the problems and expenses of the government due to leftover stocks. The Punjab Food Department is paying 6.6 percent interest plus kibor on bank loans to buy wheat from farmers which should be probed as loans can be acquired on lower rates which will save a substantial amount, he demanded.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi, Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

Extension in closing date for tax amnesty – 2018

Islamabad, July 01, 2018 (PPI-OT):Federal cabinet, on the recommendations of the Finance Minister, has approved extension of closing date of tax amnesty schemes for declaration of foreign assets and domestic income and assets till July 31st, 2018. This has been effected through a Presidential Ordinance. The deadline for filing amnesty declarations was June 30th, 2018. However, during last week a large number of representations have been received from trade bodies, professional associations and general public for extending the closing date due to short operational period after clearing legal and procedural challenges.

The extension was also needed to remove ambiguities through clarifications and explanations required to provide certainty to the general public and to ensure effective implementation of the schemes. In addition, declarants of foreign assets faced problems in the payment of tax on foreign assets and repatriation of liquid assets.

The Finance Minister recommended extension of the cut-off date for availing amnesty schemes as there has been an overwhelming demand and response which is on the rise. The date has been extended by one month to enable general pubic to file declarations for undeclared foreign assets and undeclared domestic assets and income and thereby get their tax affairs in order. It will also help the government in bringing undocumented persons, assets and income into the documented sector. Depending on flows, the schemes have potential to bring in macroeconomic and fiscal stability in the economy.

For more information, contact:
Second Secretary (Public Relations)
Federal Board of Revenue (FBR)
FATE Wing, Federal Board of Revenue,
Constitution Avenue, Sector G-5,
Islamabad, Pakistan
Phone: +92 51 921 7267
Fax: +92 51 9208456
Email: mujeeb.talpur@fbr.gov.pk, talpur35@gmail.com