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Pakistan Center for Philanthropy

Association of Pakistani Professionals
Board of Investment Covt. of Pakistan
Export Processing Zone Authority

Government of Pakistan Board of Investment
(Public Affairs Wing)

News from Pakistan (26-11-2002)

  • The Central Board of Revenue has withdrawn the powers of Collector, Collectorate of Customs, Sales Tax and Central Excise (Adjudication) to adjudicate the cases of assessment of tax including short-payment, wrong input tax credit or refund claimed and cases involving late filing and wrong filing of sales tax returns.

  • The Pakistan Integrated Household Survey 2001-02 has shown considerable improvement on the four indicators i.e. basic education, primary health, population welfare and rural water supply and sanitation.

  • Federal Minister for Commerce Humayoon Akhtar Khan has said that the continuation of existing policies would be decided after a thorough review.

  • The Foreign Office spokesman said on Monday that work on the preliminaries to a final agreement between Pakistan and Turkmenistan on the laying of a gas pipeline via Afghanistan were progressing well and the three heads of state may hold a summit to finalise it some time towards the end of this year.

  • Cotton growers have approached the government to seek Trading Corporation of Pakistan's intervention to stablise cotton market as process is sliding downward.

  • Allowing bulk import of gold across the board, the government has decided in principle to maintain the rate of withholding income tax i.e. Rs.2 per ten gram from 2002-03, previously charged on regulated import of gold, official sources told.

  • The State Bank has issued first two licences for the formation of foreign exchange companies to deal in the forex business.

  • Equities showed plus signs at the Islamabad Stock Exchange where bulls remained in the front seat amid increase in index.

  • The stock market here on Monday showed upward trend under the lead Dewan Motors and PIAC where business recorded small rise after support from the financial institutions.

  • There is a general demand of commercial importers that free import of tractors should be allowed to bring down the prices following a competition between the local tractor manufacturers and importers.

  • The State Bank has invited tenders for the auction of 6-months Treasury Bills instead of scheduled 3-months and one year T-bills, a move to set new bench-mark rate after slashing of discount rate last week.
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