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Monday 3, August 2015
 
 
 
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Opinion


Do not yield to traders’ pressure

By: Web Desk, Uploaded: 3rd August 2015

Do not yield to traders’ pressure Editorial The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Adrees and Senior Member Inland Revenue Policy, Shahid Hussain Asad, at a joint press conference announced that the government has offered incentives to those unregistered traders who voluntarily file tax returns. These incentives include exemption from audit for three years...


The travails of textile

By: Web Desk, Uploaded: 3rd August 2015

The travails of textile Editorial Pakistan’s share in global textile trade fell from 2.2 percent to 1.8 percent during the last five years. And more disturbingly this declining trend is expected to continue and fall to 1.5 percent by 2020. This data was revealed to the Senate Standing Committee on Textile Industry. The obvious question is ‘why’ and a...


Islamabad: A city of slums?

By: Web Desk, Uploaded: 1st August 2015

Islamabad: A city of slums? Editorial That Islamabad has been built strictly in accordance with its master plan – designed by a reputed firm of Greek architects – will be nothing but a misleading statement. Different sectors or neighbourhoods on the capital’s peripheries such as Golra and Bara Kahu and a large number of slums certainly do not fit into...


Let NS set the example

By: Web Desk, Uploaded: 31st July 2015

Let NS set the example Editorial Prime Minister Nawaz Sharif has shown political maturity to advise his party stalwarts to work for strengthening the democratic system and shun from petty squabbling with the opposition. He has urged Muttahida Qaumi Movement (MQM) and Jamiat Ulema-e-Islam (JUI) to withdraw their motions that the two parties have moved in the National Assembly to...


The Bigger Picture

By: Web Desk, Uploaded: 31st July 2015

The Bigger Picture Editorial Three major developments with regard to regional and domestic peace have taken place in one single day: (a) in a jungle of southern Punjab’s Muzaffargarh district, Lashkar-e-Jhangvi (LeJ) chief Malik Ishaq, his two sons and 11 fellow militants are killed in what the Punjab government claims a `shootout with police’. Under his leadership, LeJ...


The flood spectre

By: Web Desk, Uploaded: 30th July 2015

The flood spectre Editorial Almost the entire country is in the grip of intermittent spells of rains. Chitral was the first target of unprecedented rains and flash floods that were mainly caused by a dangerous climate or environmental change. The damage in mountainous terrains and valleys of northern areas was massive: a very large number of bridges and...


Impediments to bilateralism

By: Web Desk, Uploaded: 29th July 2015

Impediments to bilateralism Editorial Two developments in the realm of Pakistan-India relations grab the attention of people of the sub-continent in particular and the world at large in general: the attack in Indian Punjab’s Gurdaspur district that left 10 people dead, and video clips retrieved from the Indian spy drone that Pakistan army downed earlier this month near...


Transaction tax: stay firm but tread with care

By: Web Desk, Uploaded: 29th July 2015

Transaction tax: stay firm but tread with care Editorial Documentation is of utmost importance for enhancing tax base. There should be no compromise on efforts deployed to achieve the goals. This government has a policy of penalizing the undocumented businesses or undocumented transactions through advance taxes, higher sales tax or higher withholding taxes. The idea is to incentivize them to file returns, and...


Economy on a treadmill

By: Web Desk, Uploaded: 28th July 2015

Economy on a treadmill -Editorial Pakistan’s central bank has kept its policy rate unchanged at 6.5 percent, thereby maintaining its accommodative monetary policy stance for the next two months. This ‘wait and see’ attitude is based on some sound reasons. Banks on the other hand are making heavy investment in government papers and trades on the secondary market have...


On the eve of second round

By: Web Desk, Uploaded: 28th July 2015

On the eve of second round -Editorial Even when the second round of peace talks between representatives of Taliban and officials of Afghan government is almost certain and may take place by the end of July the situation on the battlefront remains fluid. Clashes between government troops and Taliban fighters remain a regular affair, periodically punctuated by the US drone strikes....


The verdict on vote rigging allegations

By: Web Desk, Uploaded: 25th July 2015

The verdict on vote rigging allegations Editorial Much to the relief of the Nawaz Sharif government the judicial inquiry commission tasked to determine fairness or otherwise of the 2013 general election has given it what looks like a clean chit. After hearing Pakistan Tehreek-e-Insaf and others who contested fairness of the polls and the winners, Pakistan Muslim League (N), it said...


Havoc in Chitral

By: Web Desk, Uploaded: 24th July 2015

Havoc in Chitral -Editorial Those among us who think climate change is others’ concern and not ours should think again. It is very much our concern; the terrible havoc caused by the recent spell of driving rains in Chitral being the proof evidence. Experts say it was a deadly combination of glacial lake outbursts and cloud outbursts, both...


Pakistan Tobacco going high

By: Web Desk, Uploaded: 23rd July 2015

Pakistan Tobacco going high Editorial Once again Pakistan Tobacco Company Limited (KSE: PAKT) has done a great job for the first half of this year. As per the notice to the KSE yesterday, the tobacco giant had received a massive boost to both its top line and bottom line during the six months ended June 30, 2015. It seems...


PTC: ICH woes, Ufone plague top line

By: Web Desk, Uploaded: 23rd July 2015

PTC: ICH woes, Ufone plague top line Editorial The telecom giant continues to feel the pinch from the suspension of the International Clearing House (ICH) arrangement that had guaranteed high rates on long distance and international calls (LDI). In the recently concluded half-year, PTCL groups (KSE: PTC) top line was trimmed 11 percent due to this and lower Ufone revenues. The companys...


Private sector demand lacking

By: Web Desk, Uploaded: 23rd July 2015

Private sector demand lacking Editorial The interest rates are down and are expected to stay there in the near term. But so are the private sector interest levels, which have refused to grow for quite some time. The latest SBP credit numbers repeat the same old story of muted private sector growth, with the bulk of credit serving the...


Current account: Devil in details

By: Web Desk, Uploaded: 23rd July 2015

Current account: Devil in details Editorial The current account posted a deficit of 0.8 percent of GDP ($2.3bn) in FY15 as compared to 1.3 percent of GDP ($3.1bn) in the previous year – adjusting for $1.5 billion CSF reimbursement; the CAD soared to 1.4 percent of GDP. This simply falsifies the theory that improvement in current account is due to...


The languages issue

By: Web Desk, Uploaded: 21st July 2015

The languages issue Editorial The government recently informed a three-member Supreme Court bench hearing a constitutional petition about Urdu as official language that within the next three months all government and semi-government organisations are to use Urdu to conduct office business and provide information to the public. Office signboards and street names are to be written in the...


Critical fallout of Iran deal

By: Web Desk, Uploaded: 16th July 2015

Critical fallout of Iran deal -Editorial After 20 months of tough negotiations, some quite gruelling, Iran and the global powers have succeeded in sealing a nuclear deal, a deal that both sides deservedly claim as vindication of their stated positions. Iran always said its nuclear programme is for peaceful purposes bereft of any move to develop nuclear weapons, and the...


Simplify WHT regime

By: Web Desk, Uploaded: 15th July 2015

Simplify WHT regime -Editorial Although, the PML (N) government has had a Presidential Ordinance issued to cut the rate of withholding tax from 0.6 percent to 0.3 percent as a result of its talks with representatives of traders, the business community is, however, still worked up. Demanding its immediate withdrawal. Business leaders have threatened to launch a countrywide...


Choosing electables over old loyalists

By: Web Desk, Uploaded: 15th July 2015

Choosing electables over old loyalists -Editorial During the recent days, several so-called electables from the Punjab PPP abandoned their party to join the PTI. While it is obvious that they are doing so out of disillusionment about the PPP’s future prospects of returning to power, the PTI may have less to gain and more to lose from following traditional patterns...


Be aware of the pitfalls

By: Farah Jamil, Uploaded: 14th July 2015

Be aware of the pitfalls -Editorial According to a Business Recorder exclusive, the Federal Board of Revenue (FBR) and the tax experts from the International Monetary Fund (IMF) are going to hold discussions in Dubai on the pitfalls of the General Sales Tax (GST) presently collected in VAT mode; they are said to be seeking to replace it with Single...


Afghan peace talks

By: Web Desk, Uploaded: 14th July 2015

Afghan peace talks -Editorial The representatives of Afghan Taliban have met with the Afghan government’s official delegation and decided to meet again after Ramazan. Such meetings were held earlier too, but this one is fundamentally different in that this is the first publicly-acknowledged peace talks. It was the office of President Ghani Ashraf that announced that the two...


It takes years to build up trust, and only…

By: Web Desk, Uploaded: 13th July 2015

It takes years to build up trust, and only… -Editorial The Federal Finance Minister, Muhammad Ishaq Dar, has shown in a characteristic manner the spine to withstand pressure from PML (N) supporters, the traders, mainly retailers who are demanding withdrawal of 0.6 percent withholding tax on banking transactions of non-filers. However, he has halved the rate to 0.3 percent, which is the rate for...


The below par regulator

By: Web Desk, Uploaded: 13th July 2015

The below par regulator -Editorial It turns out that the Drug Regulatory Authority of Pakistan (DRAP) is not equipped to perform its principal function of checking the quality of medicines, and hence is not recognised by the World Health Organisation (WHO). The issue holds serious ramifications both for public health in this country and the drug manufacturing industry’s export...


Rangers’ operations in Karachi

By: Web Desk, Uploaded: 11th July 2015

Rangers’ operations in Karachi -Editorial After much hesitation the Sindh government renewed, at the last hour, its request to the Interior Ministry for the Rangers to stay on in the province for another one month. The issue of contention in fact has not been extension in stay but in policing powers of the paramilitary force. It has been quite...


Treasury bills: Slow proceedings

By: Web Desk, Uploaded: 10th July 2015

Treasury bills: Slow proceedings Editorial With interest rates down, the treasury market is not a place these days it used to be last year. Banks participation in the previous few treasury bills and PIB auctions has been rather dull, albeit expectedly. Not that the borrower would be too disturbed at missing the target for the fiscal year FY16 first...


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