08302016Tue
Last update: Tue, 30 Aug 2016 12pm

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This is apropos a news item on PIBT titling "Bulk terminal's commissioning due in Dec" published on August 29 in this newspaper. It is clarified that OPEC Fund for international development does not have shareholding but is a financier to the project. Secondly, the PIBT Chief did not confirm that PIBT will handle the coal volumes of the Sahiwal Coal fired power plant but rather the terminal will be available to cater to such increase in the country's imported coal volumes.

The country's external debt and liabilities rose to historic level of $73 billion at the end of last fiscal year (FY16), mainly due to inflows from the IMF and massive increase in public debt. According to State Bank of Pakistan (SBP), the country's external debt and liabilities (stocks) posted an increase of 12 percent or $7.837 billion to reach $72.978 billion as on June 30, 2016 compared to $65.141 billion as on June 30, 2015.
The Federal Board of Revenue (FBR) has uploaded Management Information System (MIS) reports pertaining to cross verification of input tax adjustment for all sales tax registered taxpayers under new return filing system.
Federal Minister for Finance, Senator Ishaq Dar has said that the problems of money laundering and terrorist financing are global problems and have to be tackled globally through cooperation and strict preventive measures. Pakistan, he added, had strengthened its domestic laws so as to prevent such crimes.
The Ordinance expected to be approved by thefederal cabinet meeting, to be held on August 31 (Wednesday) for restoration of input tax adjustment to provinces, may be applicable retrospectively from July 1, 2016.
The Water and Power Development Authority (Wapda) inked a contract worth Rs 10.81 billion with Alstom Hydro, France for the refurbishment and upgradation of six power generating units at the Mangla Hydel Power Station.
Sixty percent of the groundwater in a river basin supporting more than 750 million people in Pakistan, India, Nepal and Bangladesh is not drinkable or usable for irrigation, researchers said Monday. The biggest threat to groundwater in the Indo-Gangetic Basin, named after the Indus and Ganges rivers, is not depletion but contamination, they reported in the journal Nature Geoscience.