` Friday, July news 18, 2014 updates Office # 05, Ground Floor, Arshad Mansion, Near Chowk A.G Office, Nabha Road Lahore. Ph. 042-37350473 Cell # 0300-8848226 NEWS OF Mail to: [email protected], [email protected] THE DAY PLP NEWS ALERTS EMAIL No. 166-2014 NEWS HEADLINES Top Stories ................................................................................................................................................... 6 Operation in North Waziristan: Prime Minister, army chief reaffirm joint ownership ................................ 6 Afghanistan asked to take action against sanctuaries .................................................................................. 7 ECC allows additional import of potato from India ...................................................................................... 8 India says committed to building friendly ties .............................................................................................. 9 IMF proposal on retirement age limit rejected .......................................................................................... 11 Rs 177.36 billion projects approved by CDWP ............................................................................................ 12 Malaysian airliner downed in Ukraine war zone, 295 dead ....................................................................... 13 US, EU stiffen sanctions against Russia over Ukraine ................................................................................. 14 PIA, Fesco: PC may select financial advisers on July 22 .............................................................................. 14 Privatisation process: HEC employees smell a rat? .................................................................................... 16 Foreign institutional investors: tax collection through NCCPL mechanism ................................................ 17 Karkey rental power case: NAB presents final reference ........................................................................... 18 Lawyers file petitions against Imran ........................................................................................................... 19 Textile exports increase by 3.9 percent ...................................................................................................... 20 Kohlu-Dera Bugti area of Balochistan: E&P companies restart activities ................................................... 21 Prices of wheat flour, other items: hearing adjourned to August 20 ......................................................... 22 AGP files petition against Dar, others ......................................................................................................... 23 Eid holidays ................................................................................................................................................. 23 Israelis airstikes resume after humanitarian lull ......................................................................................... 24 Microsoft to cut 18,000 jobs in major reorganisation ................................................................................ 25 Index climbs to historic high ....................................................................................................................... 25 BRIndex30 surges by 345.77 points ............................................................................................................ 26 Business and Economy: Pakistan ............................................................................................................. 28 UK based investors call on Dar .................................................................................................................... 28 Forex reserves fall by $124 million ............................................................................................................. 28 French ambassador meets Dar ................................................................................................................... 29 Dar chairs moot on facilitating Pakistan-Iran trade .................................................................................... 30 Rs 177.36 billion projects approved by CDWP ............................................................................................ 30 Budget 2014-15: Punjab allocates Rs 7,150 million for regional planning sector ...................................... 32 PIA, Fesco: PC may select financial advisers on July 22 .............................................................................. 33 Privatisation process: HEC employees smell a rat? .................................................................................... 34 IMF proposal on retirement age limit rejected .......................................................................................... 36 BACK TO HEADLINES Page 2 PLP NEWS ALERTS EMAIL No. 166-2014 Employees' registration with Pessi: Punjab to launch amnesty scheme for industrial, trade sector......... 37 Traders demand withdrawal of controversial SRO 608(1).......................................................................... 38 Business community satisfied with exchange rate stability ....................................................................... 38 Matching qualification issue: TCP reverts 39 'conditionally' regularised employees ................................. 39 KPCCI executive committee announces election schedule ........................................................................ 41 Activity at Karachi and Qasim ports ............................................................................................................ 41 AGP files petition against Dar, others ......................................................................................................... 43 PAC meeting on August 11 ......................................................................................................................... 43 Cotton and Textiles: Pakistan .................................................................................................................. 44 Prices continue upward march ................................................................................................................... 44 Scientists discuss cotton seed production plan for 2015............................................................................ 45 Pre-Eid buying increases cotton prices ....................................................................................................... 45 Textile exports increase by 3.9 percent ...................................................................................................... 47 NPLs of sick units: Textile Ministry to set up review committee ................................................................ 48 Textile industry: Dar urged to clear ST refunds by September ................................................................... 49 Agriculture and Allied: Pakistan ............................................................................................................. 50 Indus, Chenab, Kabul & Jhelum rivers in low flood .................................................................................... 50 Prices of wheat flour, other items: hearing adjourned to August 20 ......................................................... 51 Daily trading report of PMEX ...................................................................................................................... 51 Iron ore exploration project: Punjab government, German companies sign accord ................................. 52 Baba & Bhit islands sans basic amenities: PPP government urged to honour its commitments ............... 52 Taxation: Pakistan .................................................................................................................................... 54 Foreign institutional investors: tax collection through NCCPL mechanism ................................................ 54 FOIRA, 2013: LTUs, RTOs told to ensure implementation .......................................................................... 55 KTBA demands FBR to adopt previous income tax return form with changes ........................................... 56 If either of the two is filer: joint accountholders to be treated as filer: FBR .............................................. 57 Mutual fund industry: rate of tax deduction for dividends to be 25 percent ............................................ 58 Taxation: World ......................................................................................................................................... 60 Obama wants to crack down on US firms' tax inversions ........................................................................... 60 Australia abolishes divisive carbon tax ....................................................................................................... 60 Fuel and Energy: Pakistan ....................................................................................................................... 62 Efforts on to overcome energy crisis: 'people won't be hoodwinked through hollow slogans' ................ 62 Kohlu-Dera Bugti area of Balochistan: E&P companies restart activities ................................................... 62 Shoaib Warsi appointed SSGC MD .............................................................................................................. 63 Karkey rental power case: NAB presents