The Federal Board of Revenue (FBR) has received a budget proposal forwarded by edible oil industry to reduce revenue loss which may occur following setting up of new industrial undertakings under Section 65D of the Income Tax Ordinance of 2001.
Pakistan has approved export of 30,000 tons of wheat at subsidised rate to grain hungry Iran on government to government basis out of the 100,000 tons on immediate basis on the request of Iranian Embassy in Islamabad.
To improve the poor socio-economic status of small growers, the district administration of Lower Dir distributed free agricultural inputs including certified Maize seeds and fertilisers among 800 small growers of Lower Dir. The intervention on part of the Lower Dir administration would help restore livelihood of poor and small growers as well as boost up crop productivity in the region.
Divisional Commissioner Hyderabad Dr Riaz Memon has directed the management of Sindh Irrigation Development Authority (Sida) to visit all the river areas and to remove private bunds if any in the belt of river Sindh with immediate effect.
The Federal Board of Revenue (FBR) has proposed that advance tax at the rate of 5 percent in 'minimum mode' shall be levied on import of oil seeds by solvent plants to align oil seeds with edible oil imported by vegetable ghee and cooking oil manufactures in budget 2013-14.
Pakistan Sugar Mills Association (PSMA) Punjab Chairman Riaz Qadeer Butt has expressed concern over levy of 17 percent GST on sugar. While talking to newsmen here on Thursday he said it would have serious repercussions. He said sugar industry of Pakistan is confronting glut-like situation as a result of which mills are suffering heavy losses.
Pakistan Agricul-tural Storage and Services Corporation (Passco) have so far procured over one million tons of wheat during its on going wheat procurement target 2013 against its total procurement target of 1.6 million tons. Sources of the corporation said on Thursday that distribution of gunny bags is also in the full swing and all out steps have been taken to facilitate and accommodate the small growers during this operation.
