Briefs

Dar meets Afghan minister

YOKOHAMA: Afghan Deputy Finance Minister Mustafa Mastoor on Friday called on Finance Minister Ishaq Dar on the sidelines of Asian Development Bank’s (ADB) conference.

Matters of mutual interest were discussed during the meeting. Mastoor requested Dar for expediting progress on development projects, undertaken in Afghanistan with the help and assistance of Pakistan. The Afghan minister said the recent visit of a high-level delegation, headed by speaker National Assembly of Pakistan was a welcome step to further strengthen bilateral relations between the two countries. Minister Dar said both the countries need more interaction to further enhance bilateral trade and business-to-business exchange of visits.

Govt urged to continue ST zero-rating

By our correspondent

LAHORE: The Pakistan Hosiery Manufacturers Association (PHMA) has urged the government to continue sales tax zero-rating facility to five export-oriented sectors in the upcoming federal budget, besides speeding up the disbursement of drawbacks under the prime minister’s export package, a statement said on Friday.

PHMA chairman Adil Butt criticised the Federal Board of Revenue’s proposal to withdraw zero-rated tax regime granted last year after a long debate and hectic efforts of the exporting industry.

“The FBR wants to end the facility just to make its balance-sheet correct. The balance-sheet might show enhanced revenue collection, but the industry would be collapsed if the “no tax no refund” system is withdrawn, which was already not being implemented properly,” he added.

The zero-rating facility was reinstated in order to save the exporters from liquidity crunch; however, the FBR wanted to sabotage the government's efforts of enhancing exports. It has rolled back all sales tax refund payment orders (RPO), considering unnecessary objections, which is adding to the miseries of exporters.

Inconsistent government policies does not allow the exporters to plan even for a short-term period, he said, adding that of the Rs180 billion package, the government has released just Rs1 billion, which is not in proportionate with the export volume.

WWF, Khushhali Bank collaborate

News Desk

KARACHI: World Wide Fund for Nature, Pakistan and Khushhali Microfinance Bank launched a tree plantation drive, as part of WWF-Pakistan’s Tree-A-Thon activity, to ensure the green cover of Islamabad and its adjoining areas, a statement said.

Both WWF-Pakistan and Khushhali Microfinance Bank recently announced collaboration to plant 2,500 indigenous trees across the city as a response to the substantial change in the climate change and sustainability challenges, like watershed management and biodiversity loss, it added.

In collaboration with the Capital Development Authority, tree plantation launch was held at Kachar Park where 70 employees of Khushhali Microfinance Bank planted 200 indigenous species saplings of Kachnar. Senior Management of the bank also participated in the activity, it added.

Global diversity conference held

News Desk

KARACHI: A Global Diversity and Inclusion Benchmarks conference was recently held, where participants discussed business case for diversity to review its linkage with the organisations sustainability, a statement said. The conference also highlighted facilitation of organisations in transformation from viewing diversity defensively as a matter of legal or ethical compliance to viewing it strategically as an asset, and to compete in the market, it added.