TMA HEAD OFFICE
NEWS CLIPPINGS
DATE 14-04-2014
DAWN NEWS
Tax exemptions raise new issues
ISLAMABAD: The government has failed to control tax exemptions given to powerful businessmen, sources
said.
Rupee appreciation: another view
THIS is apropos Hammad Siddiqui’s article ‘Rupee appreciation’ (April 3). It was about how a country should
maintain forex reserves.
Unsafe in a bank
IT referred more to secure investment than material goods, but the term used to be ‘safe as houses’. That hasn’t been
the case for many years now in urban Pakistan.
Rumblings of discontent ahead of labour Conference
LAHORE: Representatives of various trade unions and NGOs have threatened to stage a sit-in in the provincial
capital on the eve of the South Asia Labour Conference if their demands are not fulfilled by the government.
Aptma for 24/7 power supply
LAHORE: The provincial chapter of the All Pakistan Textile Mills Association (Aptma) has appealed to Chief
Minister Shahbaz Sharif to save the Punjab-based textile industry from collapse by providing round- the-clock
energy supply to the mills.
Business on mutual trust
The soft spring sun is about to vanish into the darkness. The crowd nevertheless is surging in the small, narrow lane
linking Karkhana Bazaar with Montgomery Road in the close vicinity of Faisalabad‟s colonial Ghanta Ghar or
Clock Tower.
Sales tax on services: dispute between Provinces
THOUGH divergent views of the provinces on the mode of sales tax collection on services have turned into a
serious dispute, they have recently agreed to avoid double taxation, so that the cost of doing business does not rise.
Designated banks to start receiving
ISLAMABAD: The designated online branches of six scheduled banks would start receiving government scheme
Haj applications from April 21, said an official of the Ministry of Religious Affairs and Interfaith Harmony. Talking
to APP, he said the erstwhile policy of first come first serve will continue this year also.
Power outages intensify, loadshedding rises
LAHORE: The intensity of infamous outages or frequent power suspension has increased by at least one-third with
rising demand of electricity amid a fairly mild weather.
IT-based accounts: FBR unable to conduct E-audit of companies
The Federal Board of Revenue (FBR) has expressed its inability to conduct Eaudit of the business units and
companies, which have shifted their accounting procedures to IT-based system from manually maintained books of
account (ledger, cash book, journal etc).
Historic visit: Prime Ministers to hold talks on investment
Prime Minister of South Korea Chung Hongwon on Sunday was awarded a red carpet welcome, upon his arrival
here on a four-day official visit. Federal Minister for Planning, Development and Reforms Ahsan Iqbal welcomed
the South Korean Prime Minister and his delegation at Nur Khan Airbase. The South Korean Ambassador to
Pakistan was also present. Clad in traditional dresses, a young boy and a girl presented bouquets to the dignitary.
$2 billion euro bonds sale: Khurshid questions high rate of interest offered
Leader of the opposition in the National Assembly, Syed Khurshid Ahmed Shah, while expressing his reservations
on selling of $2 billion euro bonds asked that what compelled the government to sell the bonds at high interest rate
of8percent.
Poor performance of Inland Revenue Service: FBR may revert to 'CircleBased System'
Over 50 percent of the workforce of Inland Revenue Service is not performing its duties despite double pay package,
which may force the Federal Board of Revenue (FBR) to abolish the existing functional-based system and establish
1500 -1600 IR Circles across the country to register and ensure compliance by taxpayers.
Punjab chief minister urged to save textile industry from collapse
Punjab APTMA Chairman S M Tanveer has appealed to the Chief Minister of Punjab, Shahbaz Sharif, to save the
province-based textile industry from collapse by providing 24/7 energy supply to the mills. He said his recent
meetings with the Punjab Chief Minister as well as Federal Minister for Textile Industry Abbas Khan Afridi were
quite positive and he was fully confident about positive outcome of meetings sooner than later to ensure smooth
operations of textile mills in Punjab.
Wal-Mart plans 50 more India wholesale Outlets
Wal-Mart Stores Inc on April 08 announced plans to open 50 more wholesale outlets in India and start online
operations to sell to small shopkeepers, several months after it decided against opening its own retail stores there.
The world's largest retailer said it would open the stores over four to five years.
4250MW power to be added to national grid by June: Abid
Minister of State for Water and Power Abid Sher Ali has said 4250MW electricity will be added to national grid by
June this year that would limit loadshedding hours to maximum 6 to 8 hours at the peak of demand in the summer
season. He was addressing a public gathering after inaugurating Dipalpur Grid Station Upgradation Project on
Sunday. He said China has agreed to invest over 30 billion dollars in Pakistan's energy sector.
New form of extortion surfaces in Karachi
A new form of exhortation has surfaced in some areas of Karachi with the accused using a different modus operandi
to extort money from trader and businessmen. President All Karachi Tajir Ittehad, Atir Mir, said that the some
unknown accused demanded hundreds of thousands rupees from businessmen and traders under the garb of welfare
fund and in case of refusal they threatened them of dire consequences.
Issuance of NTNs and CNICs being Misused
The personal data of citizens can be manipulated in the issuance of a National Tax Numbers (NTNs) and thereafter
filing tax returns and claiming refunds without the consent of actual citizens/taxpayers. Experts told Business
Recorder here on Sunday that the NTNs were issued in certain cases without any knowledge of the persons whose
CNIC were used for this purpose.