VOLUME 16 | N o 87 Lahore Regd No. CPI 251 LAHORE 6P3 INTERNATIONAL 6P7

Expats assets, The Biden invites ambassadors 40 world of our country, leaders to says Sarwar An English Daily published simultaneously from Lahore and Faisalabad climate summit, including Lee PAGES 08 | R s 15 Buwww.thesbusineiss.cnom.pk esSs haban 14 1442 Sunday, March 28 , 2021 Punjab hints Pak, India mily officials review at complete ceasefire accord lockdown The Business Report LAHORE: Keeping in the people. It is commend - view the surge in coron - able that the PPP has can - ISLAMABAD: With an aim to restore avirus cases in Punjab, the celed the rally due to peace at the LoC, an important meeting of provincial government has increasing Coronavirus Pakistan-India brigade commanders was hinted at a complete lock - cases, she said. Talking held at the Rawalakot-Poonch crossing down, which will be decided about politics, the SACM point, The News reported on Saturday. in the NCOC meeting. said that the politics of The meeting was a follow-up to the un - Talking to media, Dr PPP has been linked with derstanding reached between Directors Firdous Ashiq Awan, Spe - opposition to the royal General Military Operations (DGMOs) of cial Assistant to Punjab family since day one. the two countries last month. The agenda of Chief Minister Sardar Lahore hospitals the meeting was to discuss the implementa - Usman Buzdar, said that running out of beds tion of the decision taken by the DGMOs to the smart lockdown im - Public sector hospitals observe ceasefire at the LoC and other sec - posed by the government in Lahore are rapidly run - tors with effect from midnight of February was not being taken seri - ning out of beds after the 24 and 25. The DGMOs had reiterated that ously by the people, after recent spike in COVID-19 the mechanism of hotline and flag meetings which complete lockdown cases in the city. will be utilised to resolve any unforeseen will be the only solution. Around 11 percent of situation or misunderstanding. The final decision will ventilators are currently Both sides agreed on strict observance of be taken at the NCOC available for new COVID- ISLAMABAD: First Lady Samina Arif Alvi cuts the cake along with others during ceremony in all agreements, understandings, and cease - meeting, she said. She said 19 pettiest in the govt hos - connection with the Nowruz celebrations. fire along LoC and all other sectors. that if the citizens do not pitals in the city. 164 The mechanism of military contacts be - follow SOPs then govern - ventilators were allocated g tween Pakistan and India had existed since ment will have to take for COVID-19 patients in 20 teams formed to launch massive crackdown against mafia 1987 while the two neighbouring countries strong measure to curb the the hospitals and most of also reached an understanding on the spread of Coronavirus. them were currently occu - ceasefire in 2003. “The two countries now Firdous Ashiq Awan pied by the patients. 34pc of have agreed to strictly observe ceasefire said that it is our constitu - oxygen beds were currently agreement of 2003 in letter and spirit and tional and legal responsi - available for new patients make the same as sustainable,” ISPR chief bility to protect the lives of in the hospitals. —TLTP FIA freezes over 100 Maj Gen Babar Iftikhar had said. Report of deptts 100 pc raise in sugar mafia accounts Naya Pakistan in Balochistan From Our Staff Correspondent sugar mafia had hundreds of fake bank ment plants in Mianwali, DG Khan and accounts to conceal the money earned Khushab was also approved in the meet - Housing loan The Federal Investi - through illegal means, sources said. ing. Billions of rupees are expected to be ISLAMABAD: ISLAMABAD: The loan limit under gation Agency (FIA) has frozen over presented to PM Under the order, the sale and purchase of invested in cement plant projects which Naya Pakistan Housing programme has 100 fake and benami bank accounts of sugar system would be regulated. will result in creating thousands of jobs ISLAMABAD: The fice in a letter warned of been enhanced one hundred percent to 10 40 key figures of sugar mafia, on Satur - The Cabinet of the Punjab govern - to the citizens. The meeting also ap - Prime Minister's Perform - strict action against offi - million rupees, Faisal Javed said. day. ment has approved Punjab Sugar Sup - proved waiver of Abiana (water rate), ance Delivery Unit has cers not attending meetings In his tweet, the Pakistan Tehreek-e-Insaf According to details, the FIA has ply Chain Management Order 2021 to agriculture tax and other arrears for cul - presented performance re - related to public welfare. (PTI) leader Faisal Javed said the mark up launched an investigation against the tighten the noose on the sugar cartel. tivators facing drought in tehsil Noorpur port of federal depart - According to the report, rate has been reduced to three percent and ments in Balochistan to the dashboards of officers sugar cartel over fraud of Rs110 billion. Under the order, the sale and pur - Thal of Khushab district and 75 mauzas The mafia earned the money through chase of the sugar system would be reg - have been declared calamity-hit areas. five percent. The PTI leader said Prime the Prime Minister. of 17 federal departments Minister Imran Khan is personally monitor - satta on the sugar. The FIA has formed ulated. The godowns of sugar mills and Punjab Govt action against According to the Prime in Balochistan were re - ing this revolutionary program. —DNA Minister Office, the report viewed. The federal depart - 20 teams to launch a massive crack - dealers would be registered and only sugar mafia lauded was related to resolution of ments in Balochistan down against the sugar mafia. The registered dealers would be allowed to Former President ICCI Shahid complaints of people of received more than 11000 agency has recovered evidence from sell or purchase sugar. According to the Rasheed Butt on Sunday lauded the Balochistan, filed at Pak - public complaints, 90pc of seized 32 mobile phones and laptops. Management Order, in case of shortage move of the Punjab Government to frus - Next Indo-Pak istan Citizens Portal. them were resolved. Thirty According to sources, the sugar mafia of sugar, the cane commissioner and trate the unholy designs of sugar mills The Governor Balochis - seven percent of the public increased the price of sugar through deputy commissioners will have full au - mafia to create an artificial shortage of speculation (Satta Bazi) and creating ar - water talks tan who sent the perform - expressed satisfaction on thority to sell sugar. In case of deple - sweetener for excessive profits. tificial shortage of sugar in the country. tion of stock, the Deputy Other provinces should also follow ance report of federal the way issues were settled. Sources said that the speculation Commissioners will have to be in - the suit to provide relief to people and in Islamabad departments had com - PM Office to observe (Satta Bazi) is being supported by all formed. Factories will not be able to save them from mafia in the holy plained that senior officers LAHORE: The next session of water Earth Hour major sugar groups of the country in - sell sugar to unregistered dealers, month of Ramadan. The sugar mills were not attending meet - On the instructions of talks between Pakistan and India will be cluding Tareen and Sharif, Hamza, Thal wholesalers and brokers. mafia had created an artificial shortage held in Islamabad. ings. The prime minister PM Imran Khan, the lights and alliance groups. The sugar mafia Furthermore, Approval was also ac - by suspending the supply of sugar in while expressing dismay of Prime Minister Office Syed Mehar Ali Shah, Pakistan’s Com - hiked the commodity’s ex-mill price corded to the Prevention of Speculation many cities since last ten days in Pun - missioner for Indus Waters, who led Pak - after receiving complaint of will be switched off on Sat - from Rs 70 per kilogram to Rs 90 during in Essential Commodities Ordinance jab and now the stock with wholesalers the Governor Balochistan, urday for an hour to ob - istani delegation in recent talks in New the past year and earned over Rs 110 bil - 2021 under which tariff of essential items had almost ended putting upward pres - Delhi, has said that the talks on water is - directed the senior officials serve Earth Hour. In his lion through satta, the sources added. would be controlled. It was also decided sure on prices, he said. of the federal departments remarks, the PM said that sues will continue in future. The mafia was involved in creating ar - to import 200000 metric tonnes of sugar Shahid Rasheed Butt said that the in - After returning from India via Wagah to attend meetings. improving environment was tificial shortage of the essential item and to sustain its prices in the province. creasing demand and supply gap has The Prime Minister Of - the top priority. —APP border crossing, Shah stated that Pakistan raising the rates of the commodity. The Moreover, installation of four new ce - not only increased prices but also side reiterated its objections to the Indian water projects in the talks with Indian dele - gation. “Indian officials assured to review Shehbaz tells the river projects,” Mehar Ali Shah said. Banks customers can submit cases from workplace The next session of water talks between Pakistani and Indian officials will be held Hamza not to in Islamabad next month, he said. The 116th meeting of the India-Pakistan SBP launches FX Portal for Permanent Indus Commission was held in comment on PPP New Delhi on 23-24 March 2021. The For - LAHORE: PML-N next PDM meeting while eign Office in a statement said that under President Mian Shehbaz Shehbaz Sharif told Hamza the relevant provisions of the Indus Waters Sharif has told Hamza She - Shehbaz not to make any end-to-end digitalisation Treaty (IWT), the meeting held annually al - hbaz not to partake in the public statement against ternately in Pakistan and India . —DNA ongoing war of words be - PPP. Shehbaz Sharif di - From Our Staff Correspondent workplace. In phase 1, the task of dig - In addition to this, a decision letter is tween PML-N and PPP. rected that senior party itizing foreign exchange cases from generated by the system and is sent to Leader of the Opposi - leaders should take up the KARACHI: The State Bank of Pak - banks to SBP was undertaken. The type the bank, once the case is processed in - tion in the PA Hamza She - issue of Yousaf Raza istan (SBP) has launched a Foreign Ex - of cases included approvals for out - ternally. The bank can download the de - Govt removes hbaz, along with his Gillani in the PDM. change (FX) Portal for end-to-end ward remittances, foreign investments, cision letter from the same portal with family, met Shehbaz Sharif SBP ordinance attack digitalization of FX requests. foreign loans, government subsidies, SBP's digital signature on it. HEC Chairman at Kot Lakhpat Jail for on sovereignty: Bilawal This new digital ecosystem is a col - acknowledgments of foreign agree - System-generated emails will also be more than two and a half PPP Chairman Bilawal laboration between of SBP, SBP Bank - ments and international trade. sent to the banker and the requesting ISLAMABAD: The Higher Education hours. The two discussed Bhutto-Zardari said Satur - ing Services Corporation and the The objective has been to ensure that customer to inform them about the Commission (HEC) Chairman Dr Tariq the appointment of Yousaf day PML-N's candidate for banking sector of Pakistan. Through this the system is simple, standardized and se - progress on the case. Furthermore, cus - Banuri has been removed from his post be - Raza Gillani as opposition Leader of the Opposition new initiative, SBP hopes to facilitate cure for the users. A secure front-end por - tomers are also given a lot of visibility fore the expiry of his term. leader in the Senate and the in Senate, Azam Nazeer the general public and business commu - tal provides users access to all the banks about the case through SBP's website. The HEC Amendment Ordinance 2021 current political situation. Tarrar, was a "controver - nity through innovative and efficient fi - and a simple three-step process lets au - In phase 2, banks in Pakistan in col - has been issued in this regard, paving way Hamza apprised She - sial" person. Bilawal's nancial services. With the aim of thorized dealers fill up web forms, attach laboration wit SBP have also devel - for removal of Tariq Banuri it may be re - hbaz of the unease in the press conference in bringing more efficiency and trans - required documents and submit the case. oped online portals for their clients, called that Dr Tariq Banuri was appointed party over the appointment Karachi followed PML-N parency to the process and promoting Moreover, every case will be assigned a resulting in end-to-end digitalization of in May 2018 by former prime minister of Yousaf Raza Gillani as Vice-President Maryam ease of doing business in Pakistan, SBP unique number and the system at the the complete process. According to Shahid Khaqan Abbasi for a four-year term opposition leader, saying Nawaz's presser, where she has designed this centralized online plat - backend will assign the case requests to SBP, this new initiative will also result and his tenure was due to end in May 2022. that PPP did not take PML- had publicly criticised PPP form to prepare, submit and process dealing officers at the SBP based on the in lower processing times and cost sav - The ordinance issued has reduced the N into confidence on this for sacrificing everything cases. Round Robin Algorithm. After due dili - ings from paper reduction. SBP also tenure of the Chairman HEC from four issue. It was decided to for a "minor, inconsequen - Currently, customers of 22 banks can gence, the case will be processed as per hopes to enhance this system in the fu - years to two years which ultimately led to protest PPP’s move in the tial office." —DNA submit their cases digitally from their applicable laws, rules and regulations. ture by including other regulatory de - the dismissal of Tariq Banuri. —DNA Tax Ord makes return filing mandatory for IT exporters ISLAMABAD: The Tax Laws come Tax Ordinance, 2001 through Software Export Board and the next (Second Amendment) Ordinance, Tax Laws (Second Amendment) Or - following two tax years; (c) persons 2021 has made the filing of income dinance, 2021 says: “65F Tax credit deriving income from exports of tax return mandatory for persons en - for certain persons.- (1) Income of computer software or IT services or gaged in exporting computer soft - following taxpayers shall be allowed IT enabled services up to the period ware to avail 100 percent tax credit. a tax credit equal to one hundred per ending on the 30th day of June, 2025: According to details, the exemp - cent of the tax payable under any pro - Tax credit for capital tions for IT and IT enabled services visions of this Ordinance including investment allowed have been withdrawn through the or - minimum and final taxes for the pe - The Tax Laws (Second Amend - dinance; however, a tax credit equal riod, to the extent, upon fulfillment of ment) Ordinance, 2021 has allowed to 100 percent has been granted to conditions and subject to limitations tax credit of 25 percent on capital in - facilitate the software exports. Cer - detailed as under: (a) persons en - vestment on an industrial undertaking. tain conditions have been introduced gaged in coal mining projects in The tax credit not fully adjusted including making return filing Sindh supplying coal exclusively to during the year of investment shall mandatory and provision of income power generation projects; (b) a be carried forward to the subsequent ISLAMABAD: A view of close shops in Karachi Company during smart lockdown as due to third tax audit has been added through the startup as defined in clause (62A) of tax year subject to the condition that spell of Covid-19, administration announced to close the markets twice a week. latest amended ordinance. section 2 for the tax year in which the it may be carried forward for a period The new section added to the In - startup is certified by the Pakistan not exceeding two years. —DNA