Category: Information Technology

The Federal Board of Revenue’s (FBR) field formations have started a physical survey of business units, corporate entities, and companies falling within the jurisdiction of Islamabad, to collect details of owners of commercial buildings, rental payments, and verify payment of withholding tax on rent.

On Tuesday, teams of the Regional Tax Office (RTO) Islamabad visited different markets of the federal capital and distributed forms for the collection of the necessary information on the spot. The form seeks business details, rent payments, and building owner details, etc. The physical survey of business establishments of the federal capital will continue during the current week.

According to the survey teams, the information has been collected from the businesses under section 176 of the Income Tax Ordinance 2001. The proforma collects information regarding particulars of the business, payment of rent, and deduction of tax thereon under section 155 of the Income Tax Ordinance 2001. The survey will also ascertain the timely and accurate deduction and payment of withholding tax to the national exchequer.

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The information on the said proforma should be submitted with a rent agreement or proof of ownership, in case the building is not on rent.

The information is collected under section 176 of the Income Tax Ordinance 2001 with the due permission of Commissioner Withholding Taxes, RTO Islamabad. In case of non-compliance, a penalty under section 182(9) of the Income Tax Ordinance 2001 will be imposed.

Under the penal provision, any person who fails to furnish the information required or to comply with any other term of the notice served under section 1765 [or 108] of the Income Tax Ordinance 2001, shall pay a penalty of Rs. 25,000 for the first default and Rs. 50,000 for each subsequent default.

The concerned inspector has been deputed to gather information after taking due permission of the Commissioner Inland Revenue, survey notice added.

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In a move to acknowledge Prime Minister Imran Khan’s successful policies against COVID-19, the World Economic Forum (WEF) has announced to celebrate ‘Pakistan Strategy Day’ on November 25. According to details, WEF made the announcement after Pakistan became a country least affected by the pandemic in terms of economy.

Pakistan suffered the lowest economic setback during the first wave of COVID-19 by enforcing a smart lockdown, among other successful strategies. As commendation, WEF will hold day-long events on 25th November, and Prime Minister Imran Khan will be the chief guest.

According to the spokesperson, various big investors, industrialists, and businessmen from around the world will attend the event. The President of the World Economic Forum will reportedly conduct a live interview with Imran Khan at 9:00 PST, where the PM would brief on his strategies for controlling the spread of the virus.

The PM will also shed light on Rs. 12-billion COVID relief package, including incentives for the construction sector. Various investors and chief executives from around the world will also engage in a Q&A session with the Prime Minister. Notable ministers have also been invited to attend separate sessions via video link.

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Advisor to PM on Finance, Abdul Hafeez Sheikh, will speak on economic relief packages. The Federal Minister for Planning and Development, Asad Umar, will later headline the success of the National Command and Operations Center (NCOC). Special Assistant to PM on Climate Change, Malik Amin Aslam, will also discuss Green Economy.

Moreover, Federal Minister for Industries and Production, Hammad Azhar, will talk regarding relief in the country’s industrial package. Energy Minister, Omar Ayub, will discuss alternative energy policy, and Sania Nishtar will talk about helping millions of families through the ‘Ehsas Emergency Cash’ Program.

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The BBC has just revealed its list of 100 inspiring and influential women worldwide for 2020. This year, the list highlights those leading change and making a difference during these turbulent times.

This is an absolute honor for Pakistan that this year’s BBC list includes Special Assistant to Prime Minister (SAPM) on Poverty Alleviation, Dr. Sania Nishtar, who leads Ehsaas program along with Sanna Marin, who leads Finland’s all-female coalition government and Sarah Gilbert, who heads the Oxford University research into a coronavirus vaccine.

This distinction has been conferred upon Dr. Sania for her work and contribution to poverty alleviation, global health, and development.

“The dramatic impact of Covid-19 presents us with a once-in-a-generation chance to build a fairer world and bring an end to poverty, inequality, and the climate crisis. For this, women must be equal, empowered stakeholders,” said Dr. Sania.

Dr. Sania Nishtar is a leader in global health and sustainable development. Since 2018, she has been spearheading the transformative Ehsaas Poverty Alleviation program, which has improved the livelihoods of millions of Pakistanis.

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As Special Assistant to the Prime Minister of Pakistan on Poverty Alleviation and Social Protection, Dr. Sania has helped empower the masses by taking the necessary first steps toward developing a welfare state in Pakistan.

As part of the BBC’s policy, the BBC 100 Women team drew up a shortlist of candidates who had made the headlines or influenced important stories over the past 12 months, as well as those who had inspiring stories to tell, achieved something significant or influenced their societies in ways that wouldn’t necessarily make the news.

The pool of names was then assessed against this year’s theme, women who led change, and measured for regional representation and due impartiality before the list was finalized.

The list can be accessed here.

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Key findings of the Pakistan Consumer Confidence Index (CCI) Q3 2020 report showed that consumer confidence improved in Q3 2020 on account of optimistic future expectations amidst complete lifting of lockdown and returning normalcy in trade activities.

Dun & Bradstreet Pakistan and Gallup Pakistan have issued their third report on ‘Pakistan Consumer Confidence Index (CCI)’ for Q3 2020.

The CCI report has been developed by assessing consumers’ confidence regarding the economy as well as their financial situation. The Index covers four key parameters, i.e., Household Financial Situation, Country’s Economic Condition, Unemployment, and Household Savings.

The Index is a reflection of ‘Current Situation’ (economic changes felt in the last six months), as well as ‘Future Expectations’ (changes expected for next six months), of consumers across the country.

The CCI ranges from 0 to 200, with 100 as the neutral value. A score of less than 100 indicates pessimism. The CCI was 88.7 points in Q3 2020, compared to 79.1 points in Q2 2020, translating into a 12.1 percent quarter over quarter (QoQ) increase.

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This was driven by optimistic Future Expectations in Q3, up 15.3 percent QoQ, amidst complete lifting of lockdown and normalcy in trade activities. However, the overall consumer confidence in Pakistan has remained pessimistic in all three quarters of 2020.

Nauman Lakhani, Country Lead of Dun & Bradstreet in Pakistan said,

The third issue of Pakistan Consumer Confidence report compares changes in Consumer Confidence from Q1 2020 (pre-COVID times), Q2 2020 (during smart lockdown), and Q3 2020 (complete lifting of lockdown). Current consumer confidence growth of 7 percent as compared to the last quarter is healthy, showing signs of recovery in Pakistan. I envision this Index to become a barometer of economic well-being in the country in the years to come. We hope this report is useful to government entities as well as private organizations, to strengthen their understanding of consumers’ sentiments across Pakistan and help in developing effective strategies to deal with the on-ground situation.

Bilal Ijaz Gilani, Executive Director Gallup Pakistan, while commenting on the findings of the report added,

Consumer Confidence in Pakistan has shown an upward trajectory for the third quarter in a row, which shows that the impact of COVID-19 on the economy and consumers is slowly tapering off.

Gallup Pakistan foresees two main threats to this recovery trend, unemployment, and inflation. If both are not effectively tackled, many of the recent wins may be lost.

Perceptions about the country’s economy have improved consistently across all three quarters of 2020, highlighting upbeat consumer sentiments, mainly on account of optimistic future expectations.

Perception about Household Financial Situation entered into green, implying peoples’ household income seems to be rising after a decline due to COVID-19.

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During Q3, the Household Financial Situation was the only CCI parameter to turn overall optimistic owing to improvement in Future Expectations. Whereas, 30 percent of consumers believe that their income levels will improve in the next six months in Q3 compared to 28 percent in Q2 and 32 percent in Q1.

In contrast, rising Inflation and Unemployment continues to drag consumers’ enthusiasm. During the Q3 survey, 91 percent of consumers believed that daily essentials have continued to become expensive or very expensive in the last six months, compared to 83 percent in Q2.

While 4 out of 5 (77 percent) respondents believed that Unemployment has increased in the last six months as compared to 80 percent in Q2 and 71 percent in Q1. Consequently, 2 out of 3 (66 percent) respondents cited a decline in Household Savings over the last six months compared to 64 percent in Q2 and 57 percent in Q1.

On the whole, consumers across all provinces, locations (Urban and Rural), different age groups, and genders were relatively more optimistic for the future economic situation than they were during the Q2 2020 survey.

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The Rawalpindi Traffic Police has finally launched a one-window operation for the public to apply for a driver’s license. The department has ended the arduous process that required applicants to wait in long queues, carry multiple documents, fill out long application forms by hand, and visit various rooms within the building multiple times for different tests.

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With the latest paperless system, an applicant is required to bring only their original CNICs to the office. All the details of the applicant will be automatically recorded in the department’s fully computerized system against their CNIC. This implies that applicants will not have to undergo the aforementioned application process.

Officials state that this step has been taken on the directives of the Inspector General (IG) of the Punjab Police to ensure maximum convenience for the general public.

The use of a Smartphone application called ‘Rawalpindi Police Citizen Connect’ has also been introduced by the department. Also included among the improvements are:

One Window Operation Counters
Priority Counters for:

Women
Senior citizens
Transgenders

Scheduling of appointments for driver’s license applications via the new smartphone app
Assurance of maximum transparency aided by driving test video footage

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The officials affirmed that the step has been expedited for the department to avoid the public crowding of applicants while bearing in mind the resurgence of COVID-19 cases. They also claim that more such developments for the convenience of the public are underway.

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Administrator and Commissioner Karachi, Iftikhar Ali Shalwani, has publically announced the administration’s plan to restore the city’s iconic 9-kilometer long tram service. The service will run between Metropole (Street Library) to Tower via II Chundrigar Road.

The administrator also revealed that Turkey has offered to launch the tram service within the port city.

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The Turkish government is offering assistance to the administration of Karachi for the installation of the tram service at MA Jinnah Road and II Chundrigar Road. The news was made public in September when the Turkish Consul General, Tolga Ucak, offered Shallwani Turkey’s support for the project.

During the initial session, Shallwani stated that to introduce a cheap and convenient transport system, it would be in Karachi’s best interest to install the tram service track at two of its busiest avenues, MA Jinnah Road and II Chundrigar Road.

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The Karachi Circular Railway (KCR) service commenced on 19 November after twenty-five years of dormancy. As per reports, eight trains have been rolled out on the 60-kilometer route, with a daily maximum one-way fare of Rs. 50. Pakistan Railways reportedly reconditioned fifteen bogies that were set to reach Karachi last week, as a part of the KCR’s restoration plan.

Karachi’s administration is seemingly on the fast track to reform its public transportation services. The administration has affirmed that the city’s transport sector is about to undergo a dramatic and positive transformation.

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