Tag Archives: stakeholders

Budget Preparation Starts, Abolishing Pension and Increase in Pay Suggested

Budget Preparation Starts, Abolishing Pension and Increase in Pay Suggested


Shahid | January 10, 2018 | category: News

Budget preparation starts, abolishing pension and increase in pay suggested.The government has started budget preparations and commenced the consultation process with the concerned stakeholders including representatives of various chambers of commerce and industries and different business organizations.

In this regard Prime Minister Shahid Khaqan Abbasi has reconstituted his own team for preparing the budget for year 2018-19 as government is in hurry and interested to complete the work before the completion of the term of the assemblies.

The Prime Minister has appointed Haroon Akhtar Khan as his Advisor, with the status of Federal Minister, who will be responsible for the affairs of the Federal Board of Revenue (FBR), and consult with the business community to prepare the recommendations for improving the collection of taxes.

The Prime Minister has also appointed Miftah Ismail as his advisor who will be responsible for dealing with the international monetary organizations for seeking loans and other financial assistance from them. To deal with political elements, the Prime Minister has appointed Rana Afzal Khan as Minister of State for Finance, who will deal with the politicians and other local organizations to seek their proposals for the next budget.

According to sources of Ministry of Finance, the government has been working on a plan to abolish the system of pension and the salaries of the government servants will be increased accordingly to the level of private sector so that the financial burden on the government for the payment of pension could be abolished. In this proposal, which will be very difficult to be adopted by the government in its last year of the tenure, the government has received suggestions that instead of giving pension, the government officials will be given handsome salaries so that they can save sufficient money at the time of retirement.

The government has also discussed this proposal with the International Monitory Fund (IMF), the main lender of loans to Pakistan but still there is no progress on this proposal and it will be further discussed at various levels in the Ministry of Finance before the finalization of the next budget.
Meanwhile, the government has also discussing the proposals to increase the funds for improving the basic needs of life including power, provision of water, gas, health facilities, education and other such basic facilities and huge amount will be allocated in the next budget so that they can seek the support of the people on the occasion of the next elections.

The sources in the Ministry of Finance said that during the recent meetings of officials of Finance Department with the representatives of IMF, Pakistan has been advised by the IMF to prepare a three year frame work which include reduction on the foreign loans, prepare a comprehensive strategy for improving the debt payment in the next three years, as Pakistan has to pay back nine billion dollars during 2018 against the loans secured by the country.

The IMF also advised the officials of the Ministry of Finance to chalk out comprehensive strategy and take adequate and effective measures to reduce the trade deficit which has increased to US dollars 36 billion. In this regard the financial team of the Prime Minister has also been asked to prepare recommendations for increase in the revenues by the FBR, give incentives to increase foreign remittances and other such options.

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Closing of LNG Terminal Hitting Masses, Economy PBIF

Closing of LNG Terminal Hitting Masses, Economy PBIF


Sumera Saeed | December 13, 2017 | category: Business

Closing of LNG Terminal Hitting Masses, Economy PBIF.President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said that the indefinite closure of country’s second LNG terminal in the winter has added to the problems of masses and the business community.

In an statement issued from PBIF’s office on Wednesday , he said that shortage of gas has increased the cost of doing business which is beating production and exports while the decision of the government to close power plants running on furnace oil has backfired due to the closure of the LNG terminal having 600 mmcfd capacity, he said.

The government should take action against those who started the LNG terminal with a delay of almost six months and closed it days after its inauguration on Nov 20th, he demanded.
Mian Zahid Hussain said that the sub-standard material used in the terminal has not only resulted in heavy losses but it has also damaged the image of the country and the LNG project which was viewed as a miracle among stakeholders.
He said that the government should prefer spot purchasing and avoid long-term deals and recover the losses of 272,000 dollars per day from the operators of the second terminal.
The closure of second LNG terminal has resulted in the inability to offload ships carrying LNG while the questions are asked about the fate of three LNG-bases powerhouses in Punjab having a total capacity of 3600 megawatts, the former minister said.
The veteran business leader said that a gas company and a terminal operator have recently entered a deal without legal process which should be probed as questions are being asked about it.

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Pakistan Coating Show 2017 Overwhelming response from the Coating industry

Pakistan Coating Show 2017 Overwhelming response from the Coating industry


Sumera Saeed | January 20, 2017 | category: News

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

The annual Pakistan Coating Show 2017 has opened in Lahore for the 3rd time, again attracting an irresistible reaction from the Coating, Paints and Chemicals industry professionals. This event forms an inventive B2B platform, thoroughly organized every year, by the ‘Pakistan Coating Show’ and ‘B2B Media’. The show will continue at the Expo Center in Lahore, from the 19th to 21st January, to display the latest products and foster new technologies for the industry.

Moazzam Rasheed Chairman B2B Media stated that Pakistan coating Show 2017 catches the attention of international and local manufacturers, distributors, suppliers, and dealers, for sharing their thoughts and form stronger corporate associations. It offers enormous opportunities for B2B networking, association and media-exposure for the stakeholders, providing a huge boost to the national economy. Students and young entrepreneurs, who aim to develop their careers in the related industry, can seek the precious understanding of the industry which is accessible by this insightful medium.

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

Brighto Paints Pvt. Ltd. is yet again, the principal sponsor of this year’s exhibition, along with several prestigious local and multinational industries patronizing the show. The co-sponsors include; Power Chemicals Industries Ltd, and Rainbow General Trading Co. LLC. The revolutionary 3-day event displays more than 255 stalls and attracts more than 10,000 visitors, providing them undeviating access to national and international customers. PCS is further enriched by an insightful conference, which features the most notorious experts and scholarly speaker’s thorough analyses of the embryonic trends in the industry.

The Chief Guest of the grand opening ceremony was Mr. Abdul Basit – the President of Lahore Chamber of Commerce & Industry (LCCI). He stated that;

“The overwhelming response given by the entrepreneurs and professionals of the coating industry is not only delightful to see but it also ensures the accomplishment of this revolutionary annual event. As the President of LCCI, I would like to extend my sincerest congratulations and admiration to the Pakistan Coating Show, for scrupulously organizing such an energetic show and facilitating national progress simultaneously.”

 

Pakistan Coating Show 2017 Overwhelming response from the Coating industry

PCS has a team of experienced professionals, affianced in promoting an extensive variety of raw materials, for the coating industry, for over three decades now.

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Sindh Government Decides to Lessen the burden of Poor People

Sindh Government Decides to Lessen the burden of Poor People


Sumera Saeed | October 14, 2016 | category: News

Sindh Government Decides to Lessen the burden of Poor People

The government of Sindh has decide to lessen the burden of poor people by closing the shops by 07:00 pm and marriage halls by 10:00 pm in Sindh.

To ensure the implementation of the new law ministries of labour and industries has to work out.

To implement the new timing from 1st November 2016 in Sindh the government would take market associations and shopping malls management into confidence.

Chief Minister of Sindh, Syed Murad Ali Shah said while addressing the Karachi Chamber of Commerce and Industry programme that they are developing a new system under which all business activities would start functioning from the morning to evening.

It’s an attempt to reduce the financial burden of poor people the Sindh cabinet also passed the law of one dish in weddings like trice, curry and deser.

It is important to mention here that the CM Punjab Shahbaz Sharif has implemented the one dish law on weddings long ago to facilitate average classes of society. Moreover all marriages hall in Punjab close at 10:Pm.

The Chief Minister of Sindh also directed the district administration to meet traders, market associations and other stakeholders and inform him about their feedback on daily basis.