VOLUME 15 | N o 05 Lahore Regd No. CPI 251 WORLD STOCKS/ INTERNATIONAL COMMODITIES 6P11 6P9 The US Senate in stalemate over Oil prices rise An English Daily published simultaneously from Lahore and Faisalabad Trump’s trial after Iranian PAGES 12g |e nR se r2a0l ’s death Buwsww.theibusiness.com.epk sJamas di-ul-Awwal 09 1441 Sunday, January 05, 2020 fuels war fears Trump allows Gold price reaches military training all time high at plan for Pakistan Rs90200 per tola ISLAMABAD: In another major develop - The Business Report ment, the Trump administration has ap - proved resumption of its International KARACHI: Gold price on Saturday Military Education and Training (IMET) pro - reached an all time high at Rs90200 per tola. gramme for Pakistani personnel at the U.S. According to details gold price shoot up institutions, and to strengthen military to mil - to historic mark after an increase of Rs550 itary cooperation between the two nations. per tola on Saturday. The approval came a day after Secretary of After increase Gold is traded at Rs90,200 State Mike Pompeo spoke over phone with per tola in markets of Karachi, Lahore, Is - Chief of Army Staff (COAS) General Qamar lamabad, Peshawar, Quetta, Hyderabad, Javed Bajwa to discuss the situation in the re - Sukkur, Faisalabad, Rawalpindi and other gion in the aftermath of the killing of General cities. Earlier gold price increased by Qasem Soleimani, the commander of Iran’s Rs5000 in past two weeks. powerful Revolutionary Guards. It will “strengthen” military to military cooperation between the two countries on “shared priori - ties,” US Principal Deputy Assistant Secre - Pakistan, WB to tary for South and Central Asian Affairs Alice Wells stated in a tweet on Friday. raise tax revenue “To strengthen military to military coop - eration on shared priorities and advance US upto Rs7,500b national security, President Donald Trump authorised the resumption of International The Business Report Military Education and Training for Pak - istan. The overall security assistance suspen - ISLAMABAD: Pakistan and the World sion for Pakistan remains in effect.” Bank Group have set 19 important goals for However, the overall security assistance MIANWALI: Prime Minister Imran Khan inspects Mobile Police Monitoring Van. raising the country’s tax revenue up to suspension for Pakistan remains in effect, it Rs7,500 billion by June 30, 2024, under pointed out. The Trump administration had in which the Federal Bureau of Revenue (FBR) August 2018 suspended the more than a is required to increase the tax collection decade-long International Military Education from March 2019 (at 13 percent of the GDP and Training (IMET) programme for Pakistani i.e. Rs4,200 billion) to June 30, 2024 (at 17 personnel at the US institutions. —DNA percent of the GDP i.e. Rs7,500 billion). Time to uproot 'thana As a result, this will increase the state’s tax collection by Rs3,300 billion from June 30, 2019, till June 30, 2024. If the tax collec - No attack on tion by the FBR reaches Rs5,500 billion by June 30, 2020, then the tax collection will be Gurdwara Janam increased by Rs200 billion annually till June kutcheri and patwari' 30, 2024. The Federal Ministry of Finance and the World Bank have outlined 19 key Asthan: Ministry targets for this tax collection. ISLAMABAD: Ministry of Interior has One of these important targets is to in - dismissed reports of attack on Gurdwara crease the number of tax filers in the same Janam Asthan in Nankana Sahib as ab - period from the existing 2.2 million to 3.5 solutely incorrect, clarifying that nothing of culture, says Imran million, thereby the 1.3 million new taxpay - the sort occurred at the Gurdwara. g ers will be added in the system. A spokesman of the Ministry in a state - ment said in fact this incident was the result Imran wishes to see Punjab police become example for everyone of an altercation between owner of a tea MIANWALI: Prime Minister PM Imran went on to say that the system and other modern facilities. been established for registering stall and customer. He said the government Imran Khan on Saturday formally PTI government freed the Khyber The premier said the remodeling complaints and a Superintendent of Excessive gas is committed to protect the rights of all citi - inaugurated the Model Police Sta - Pakhtunkhwa (KP) police from po - of the old police station was very Police will be appointed in every zens especially the minorities, and the tion in Mianwali and said that the litical pressure in the previous gov - significant where the people would district for dealing with complaints. bills report opening of Kartarpur Corridor was a mani - destiny of a country changes when ernment. He expressed the hope to get their complaints addressed Earlier, PM Imran Khan inaugu - fest example of Pakistan’s commitment to the police do its work efficiently. see reforms in Punjab police same as through a modern token calling sys - rated Huawei ICT Lab at NAMAL submitted to PM respect for minorities. —Online Addressing the ceremony at Mi - KP police. “I wish to see Punjab po - tem instead of looking for some ref - Institute Mianwali. The PM was anwali City Police Station, he said lice at par with KP police”, he erences to approach the police briefed about state of the art infor - ISLAMABAD: A report over excessive that the politics of "thana-katchery" added. He further said police should officers. Establishing model police mation and communications tech - gas bills was submitted to Prime Minister culture has severely damaged the provide sense of protection and stations in Punjab is part of Prime nology facility at NAMAL Institute. Imran Khan in which extra charges that were Pakistan Navy country but the model police are peace to the public. Minister Imran Khan’s initiative and Another report adds: Prime Min - put on consumers were analyzed along with trying bring a reform. “Model Po - He viewed that the provision of a vision of justice for all. On his ar - ister Imran Khan has said that exist - supply and demand situation. inducts maritime lice Station is a beginning to reform friendly atmosphere to the people at rival at the model police station, ing thana-kutcheri and patwari The report claimed that Rs 513 million the police,” he expressed. the police stations could make a Punjab police presented guard of ho - system has inflicted serious dam - will be returned to users for being over patrol aircraft He asserted that the politicians huge difference. "We have devel - nour to the Prime Minister. Chief ages to the country and time is now charged. Difference between gas pressure used to commend police personnel oped wrong habits particularly due Minister Usman Buzdar also ac - right to replace it with a better one. and amount of bills was also monitored upon KARACHI: Induction ceremony of on an unfair merit and for personal to the bad governance during last 30 companied the Prime Minister. “We need to uproot this 30-year- the premier’s directions. The report stated state-of-the-art Maritime Patrol Aircraft benefits. “The past rulers used to con - years", he said, adding that the na - IG Punjab briefed the Prime Min - old thana culture,” he said while ad - that action is being taken on the orders of the (MPA) and tactical Unmanned Aerial Vehi - trol the police stations and courts tion’s progress was linked with the ister about the working of Model dressing a ceremony held to board of directors of the Sui Northern Gas cles (UAVs) in Pakistan Navy Fleet was which have hurt the order of the confidence given by the police to the Police stations. Under the initiative, inaugurate a ‘model police station’ in Pipelines Limited (SNGPL). Rs 50 million held here. Chief of the Naval Staff, Admiral country,” he said, adding that Punjab needy and distressed people through 29 model police stations have been Minawali on Saturday. In the past, he were returned to consumers in February and Zafar Mahmood Abbasi graced the occasion police will become an example for friendly atmosphere by doing away set up throughout the province said, politicians used to appoint po - March last year, it said. —DNA as chief guest, says a press release of ISPR- everyone. PM said setting up of with the old mindset and culture. where CCTV cameras have also lice officers of their own choice for Navy here on Saturday. model police stations is important for PM Imran lauded the IG Police been installed to monitor the per - personal and political gains, and that Speaking on the occasion, Chief of the public welfare, and it reflects the new for establishing the model police sta - formance of police. Under the ini - is why people started losing trust in Naval Staff, highlighting the role of Pakistan thinking to improve state of affairs. tion equipped with token calling tiative, a helpline 8,787 has also the law-enforcers. —Agencies Big reshuffling, Navy in safeguarding the maritime frontiers and ensuring safety of Sea Lines of Commu - extension in nication, said that induction of marinized ATR aircraft with weapons and sensors will Tax Amendment Ord to promote trade, facilitate traders KP cabinet substantially enhance operational capabili - ties of Pakistan Navy Fleet's Air Arm. PESHAWAR: Chief Minister (CM) Moreover, induction of another ATR in Khyber Pakhtunkhawa (KP) Mehmood cargo/ para-drop role will provide added Khan has massively reshuffled the provin - flexibility to the Special Forces' operations. Tax growth of 16.3pc achieved cial cabinet in view of complaints inflows The chief guest further added that induc - against the ministers. CM KP has changed tion of LUNA NG Unmanned Aerial Vehi - portfolios of 14 ministers besides inducting cles (UAVs) in Fleet Air Arm will further eight new special assistants and two minis - augment Pakistan Navy's ISR capabilities in in first six months, says FBR ters in the cabinet amid the reports that CM maritime domain especially in Creeks areas ISLAMABAD: The tax collec - over $5 billion has on the one hand it is expected that FBR is going to view to encouraging correct decla - has taken this step for the persistent pouring and along the Coastal belt. tion in first six months is 2083 bil - improved Current Account situation collect an unprecedented amount of rations, the rate of minimum tax has in complaints against the attitude and poor The Admiral urged the crew of newly in - lion which is 16.3 percent higher but on the other hand has adversely taxes this year without disrupting been rationalised. performance of ministers. ducted ATRs & Unmanned Aerial Vehicles than last year, says a press release is - affected the usual revenue resources and distorting economic activity. Similarly medium sized traders Among two new ministers one Iqbal Shah (UAVs) to make optimum utilization of sued by Federal Board of Revenue of the government, the FBR said. Another report adds: The Tax have been absolved from their lia - has been taken from tribal district. Iqbal these platforms in order to contribute effec - Saturday. It is the highest growth rate An estimated loss of Rs 56 billion Amendment Ordinance has made bility as withholding agent to in - Shah belongs to North Waziristan. Accord - tively towards combat potential of Pakistan since 2015-16 and FBR has made of taxes is incurred on every billion corrections in law to accommodate crease ease of doing business. The ing to Shaukat Yousufzai, iqbal Shah who Navy Fleet. Appreciating the detection of In - great efforts to attain this growth de - dollar of import compression. FBR reasonable demands of traders. trade associations have committed has been taken from North Waziristan has dian submarine by Pak Navy aircraft in post spite rather subdued economic activ - has redoubled its efforts on domestic Since CNIC disclosure of every to get all medium and large sized re - been given portfolio of relief while Shah Pulwama stand-off, the Naval Chief said "I ity. side and has managed to shift its tax sale is a major requirement of law tailers registered with income tax. Muhammad has been given portfolio of am glad that PN Aviation Fleet proved its The original target of Rs 2367 dependence on import taxes from 56 now, the traders were rightfully de - The association have also nominated transport. Khaliq-ur-Rehman has been in - mastery and made the whole nation proud." billion was revised to 2197 in view percent to a little above 40 percent manding a decrease in minimum tax their representatives to evaluate ducted as special assistant on higher edu - He advised the aviators to keep the same of import compression in first quar - this year. With expected upturn of rate as majority of taxpayers were turnover of under declaring business cation and Arif Ahmad Zai has been spirit and be prepared for any eventuality ter. The trend has continued for the economic activity in last six months earlier paying the minimum tax on and have also joined hands with allocated portfolio of mineral while Ghazan that may rise anytime. —APP second quarter. This compression of and a likely stabilisation of imports, grossly suppressed sales. With a FBR for dispute resolution in audits, Jamal portfolio of excise. —Online Another air strike on pro-Iran convoy in Iraq Tough times awaits US: Rouhani TEHRAN: Iranian President Hassan of its spreading influence in the Middle car to Kerbala and end in Najaf, another sa - Rouhani visited the family of killed com - East. cred Shi ite city where Muhandis and the mander Qassem Soleimani on Saturday. US-Iranian hostilities have intensified in other Iraqis killed will be buried. Rouhani said that difficult times would be Iraq since last week when pro-Iranian mili - Soleimani s body will be transferred to coming for America as a result of the killing tia attacked the US Embassy in Baghdad the southwestern Iranian province of of Soleimani and that the story of Iran as a following a deadly US air raid on the Kataib Khuzestan that borders Iraq, then on Sunday nation would have been very different with - Hezbollah militia, founded by Muhandis. (January 5) to the Shi ite holy city of Mash - out the him. Soleimani, Iraqi militia leader A senior Trump administration official had in the northeast and from there to the Abu Mahdi al-Muhandis and others were said Soleimani had been planning immi - capital Tehran and on to his hometown Ker - killed in a US air strike on Friday. nent attacks on US personnel across the man in the southeast for burial on Tuesday Friday s attack on Baghdad airport, au - Middle East. US Democratic party critics (January 7), Iranian state media reported. thorised by US President Donald Trump, said the order by the Republican president Another report adds: The US has carried signalled a major escalation in a Middle was reckless and that he had raised the risk out a new air strike targeting a commander in East "shadow war" between Iran and the of more violence in a dangerous region. Iraq’s Hashed al-Shaabi paramilitary force United States and American allies, mainly An elaborate, PMF-organised procession near camp Taji north of Baghdad on Satur - Israel and Saudi Arabia. Soleimani, a 62- to mourn Soleimani, Muhandis and the oth - day, killing at least six people and wounding KARACHI: Commander Pakistan Fleet Vice Admiral Asif Khaliq briefs Chief of the Naval Staff year-old general, was Tehran s most promi - ers began in Baghdad s heavily fortified several others, a day after an American Admiral Zafar Mahmood Abbasi about newly inducted aircraft and UAVs in aviation fleet. —DNA nent military commander and the architect Green Zone on Saturday. It will proceed by drone strike killed Qassim Soleimani, a top