06262016Sun
Last update: Sun, 26 Jun 2016 11am

Business & Economy

Pakistan - Business & Economy

Rs20,000mn for agriculture sector LAHORE: Punjab government has earmarked Rs 20,000 million for the agriculture sector in the budget for FY 2016-17.The allocation has been made for transforming the sector into diversified sustainable and market driven sector through improved practices, efficient use of resources and limiting losses due to insects, pests, salinity, alkalinity and revamping existing market system.According to the budget document, Rs 8,200 million have been allocated for 25 ongoing schemes while Rs 11,800 million for 40 new schemes.It is pertinent to mention here that the total allocation includes Rs 200 million for other development programmes of agriculture sector while Rs 10,000 million for Khadim-e-Punjab Kissan Package.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Business & Economy

Custom tariff measures to help collection of additional Rs11bn in FY17 ISLAMABAD: Senate Standing Committee on Finance and Revenue on Monday was informed that the whole tariff custom exercise by the Federal Board of Revenue (FBR) would help collection of additional Rs 11 billion in the national exchequer during Fiscal Year 2016-17.Member Inland Revenue, FBR Rehmatullah Wazir informed the committee that the custom duty on import of 2300 items was proposed to be reduced from 5 to 3 per cent while the duty on 900 items ...

Pakistan - Business & Economy

Shipping activity at Port Qasim KARACHI: Brisk shipping was recorded at the Port where seven ships C.V lioyd Don Carlos, C.V Nicoline Maersk, C.V Castor-N, M.V intuition, M.T Khankendy, M.T Able Sailor, M.T Shalamar carrying Containers, Conola seeds, Chemicals, Palm oil and Furnance oil were arranged berthing at Qasim International Container Terminal, Grain & Fertilizer Terminal, Engro Vopak Terminal, Liquid Cargo Terminal and FOTCO Oil Terminal respectively on Sunday, 12th June 2016. Meanwhile three more ships M.T Okyroe, M.T Al-Jalaa ...

Pakistan - Business & Economy

Closure of Rohri canal to inflect heavy losses to growers, national economy HYDERABAD: Sindh Chamber of Agriculture (SCA) showing concerns over closure of Rohri canal has said that the canal irrigates 2.9 million acres agriculture land and its closure may inflict a big lose to growers as well agriculture economy of the country.Rohri canal was closed due to cracks in Full Fall regulator of the canal and standing crops in command area were suffering badly due to non-availability of water while irrigation department had failed to repair ...

Pakistan - Business & Economy

Sindh budget is balanced one: Jam Mehtab KARACHI: Sindh Health Minister Jam Mehtab Hussain Dahar has termed Sindh budget for the fiscal year 2016-17 people-friendly and a balanced budget as he said it has covered all development sectors. In a statement issued here on Sunday, he said that specially health, education and law and order have been given priority in the budget. He said that it is a landmark that Rs 160.5 billion for education and Rs 65.9 billion for health had ...

Pakistan - Business & Economy

Govt urged to review taxes on dairy sector ISLAMABAD: Islamabad Chamber of Small Traders on Sunday has urged the government to review taxes on the dairy sector as it will result in widespread malnutrition and discourage foreign investors.The sector should rather be given the status of a zero tax rated industry, said Patron of Islamabad Chamber of Small Traders Shahid Rasheed Butt in a statement here Sunday. Butt claimed that the new tax structure was complicated while additional taxes would hit infants the ...

Pakistan - Business & Economy

Telecom sector contributes Rs744bn in terms of taxes in 3 years ISLAMABAD: Telecom sector, a significant source of revenue generation for government, has contributed Rs. 744 billion in terms of regulatory duties and taxes during last five years.The sector also contributed around Rs. 105.9 billion during first three quarters of this fiscal year in terms of initial and annual license fees, initial and annual spectrum fees, Universal Service Fund (USF) and Research and Development (R&D) Fund contributions, Access Promotion Contribution (APC) for USF, Numbering Charges, license ...