Category: Information Technology

In a major departure from the past practice, the government has allowed taxpayers to file settlement application for agreed assessment by inserting a new section 122D in the Income Tax Ordinance, 2001 through Finance Act 2020.

Recently FBR has instructed its field formations to establish oversight committees as envisaged in the law. Taxpayers whose cases have been selected in audit and have been confronted through a show-cause may avail this opportunity by applying online to the settlement committee, conveying this intention to go for agreed assessment and tax payable thereon.

The Committee will decide the case within 30 days of the filing of the application by the taxpayer. The government is expecting that a large number of taxpayers under scrutiny will avail this opportunity.

This will decrease the pressure on available FBR resources which are being spent on litigation and will provide instant relief to the taxpayers.

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The state-owned liquefied natural gas (LNG) importer, Pakistan LNG Limited (PLL), has issued tenders for the import of three LNG cargoes of 140,000 cubic meters each, for March 2021, amidst increasing demand for energy caused by the winter season.

PLL floated a tender to import LNG cargoes of 420,000 cubic meters through an advertisement, saying that the country is seeking this LNG to be delivered in three delivery windows, on March 9-10, March 16-17, and March 22-23 on a delivered ex-ship basis. The deadline to submit bids for the tender is January 15.

The petroleum division has informed that the city loads have already increased by more than 9 percent in Sui Northern Gas Pipelines Limited (SNGPL) due to a severe cold wave. Sui Southern Gas Company (SSGC) also faces a similar situation in Karachi and Quetta.

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According to the estimates, every 1 degree Celsius decrease in the temperature translates into an additional six mmcfd demand per day. This is in addition to the usual daily gas demand of approximately 7.5 billion cubic feet per day. Currently, the local production of LNG is short by 3.5 billion cubic feet per day as compared to the daily demand.

Oil and Gas Regulatory Authority (OGRA) predicts this supply-demand gap to rise even further, to approximately 2.7 billion cubic feet by 2023 and 4.8 billion cubic feet by 2028. This gap is filled through imports.

LNG imports account for 24 percent of the country’s total import mix. In the past five years, approximately 19 million tons of LNG have been imported by Pakistan.

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Veteran all-rounder, Mohammad Hafeez, has become the joint leading run scorer for Pakistan in T20Is. The record was previously held solely by fellow teammate, Shoaib Malik. Hafeez and Malik both have scored 2,323 runs for Pakistan, but Hafeez has scored the runs in 16 matches less than Malik.

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Hafeez needed 42 runs against New Zealand in third T20I to become the new leading run-scorer. He fell on 41 and could not end his year on a high. He did manage to pull Pakistan closer towards victory in the third T20I against New Zealand.

Hafeez top-scored for Pakistan in the second T20I with a magnificent 99*, remaining stranded one run short of a century as the innings came to a close.

Hafeez is the only batsman in the world to have a better 2020 than the rest of his career. He had scored 374 runs in 9 matches prior to the start of today’s match. He has averaged 93.50 during this period and his strike rate has been impressive at 153.90. As compared to the rest of his career prior to this match, Hafeez has scored 2316 runs in 98 matches at an average of 28.24 and a strike rate of 121.12.

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Leading run-scorers for Pakistan in T20Is are as follows:

Player
Matches
Runs

Mohammad Hafeez
99
2,323

Shoaib Malik
115
2,323

Umar Akmal
84
1,690

Babar Azam
44
1,681

Ahmed Shehzad
59
1,471

The post Mohammad Hafeez Equals Pakistan’s Biggest T20I Batting Record appeared first on .

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The Higher Education Department (HED), Punjab is recruiting Principals for 12 posts in public sector colleges.

Six of these colleges, three for males and three for female are located in Lahore. These include Government Fatima Jinnah College for Women, Chuna Mandi, Government Degree College for Women, Manga Mandi, Government Degree College for Women, Mustafa Abad, Government College of Commerce, Allama Iqbal Town, Government College of Commerce, Kot Lakhpat, and Government College of Commerce, Baghbanpura.

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The remaining six colleges are located in Sialkot, Gujranwala, Bhakkar, DG Khan, and Sheikhupura districts.

Eligibility Criteria
Assistant and Associate Professors, Professors, and Senior, Chief and Sr Chief Instructors (Male/Female) working in the public sector colleges are eligible to apply for the advertised posts.

Only teachers from commerce colleges are eligible to apply for posts in commerce colleges.

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The last date to apply for the posts is 28 December 2020.

Image via TCF

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New Zealand has announced their Test squad for the upcoming series against Pakistan. All-rounder, Mitchell Santner retains his place in the squad in place of left-arm spinner, Ajaz Patel.

Patel was expected to be a part of the squad after recovering from a lengthy lay-off due to injury, but the selectors went for Mitchell Santner to provide more balance to their line-up. Santner would play as a bowling all-rounder at 7th position, with four other fast bowlers in the team.

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“It’s really unfortunate for Ajaz, who has overcome his calf injury, but the all-round ability of Mitchell Santner is our preferred option for this series. The fact Ajaz hasn’t been able to have any game-time in the lead-up was also a concern for the selectors,” coach Gary Stead said.

Kane Williamson returns to the Test squad after missing the second Test match against West Indies due to the birth of his child. He will lead the New Zealand team in the two-match Test series.

Meanwhile, Pakistan captain, Babar Azam, and opening batsman, Imam-ul-Haq, have been ruled out of the first Test due to injuries. Both the batsmen suffered fractured thumbs in a practice session last week. Mohammad Rizwan, will captain the side in the first Test match.

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The first Test match is scheduled to take place on Boxing Day in Mount Maunganui.

The New Zealand Test squad is as follows:

Kane Williamson (captain), Tom Blundell, Trent Boult, Kyle Jamieson, Tom Latham, Daryl Mitchell, Henry Nicholls, Mitchell Santner, Tim Southee, Ross Taylor, Neil Wagner, BJ Watling (wicketkeeper), Will Young

The Pakistan Test squad is as follows:

Mohammad Rizwan (captain for 1st Test), Abid Ali, Azhar Ali, Faheem Ashraf, Fawad Alam, Haris Sohail, Imran Butt, Mohammad Abbas, Naseem Shah, Sarfaraz Ahmed, Shadab Khan, Shaheen Afridi, Shan Masood, Sohail Khan, and Yasir Shah. (Babar Azam and Imam-ul-Haq are not available for the first Test)

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Mobilink Microfinance Bank (MMBL), the largest digital bank in Pakistan, has partnered with Opportunity International EduFinance to increase access to education through school financing that links all Pakistani non-state schools to affordable capital.

The tailored school improvement loan product will be offered through MMBL’s expansive branch network across Pakistan and will equip non-state school owners with financing options to build new classrooms and infrastructure, source necessary ICT and safety equipment, and actively invest in improving the quality of education and learning environment of their schools, despite the difficulties brought on by the COVID-19 pandemic.

Opportunity EduFinance will support MMBL in designing the new school improvement loan product as per the non-state school owners’ unique requirements and will train staff members in providing excellent services to school owners.

Speaking about the partnership, the President and CEO of MMBL, Ghazanfar Azzam said, “MMBL is committed to promoting financial inclusion in Pakistan. Education is the great equalizer that creates opportunities and helps communities thrive. Through this collaboration with EduFinance, MMBL aims to extend support to struggling school owners to keep their schools running and ensure uninterrupted access to education for Pakistani children.”

Andrew McCusker, Head of Opportunity EduFinance, stated, “Through our partnership with MMBL, we hope to mobilize the capital that is critically needed by schools to get through the COVID-19 pandemic and ensure that children are able to continue their education in a safe learning environment. We believe MMBL’s decision to increase their investment into the education sector is both timely and has the potential for massive impact.”

MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan. It is the only microfinance bank that was recognized by PACRA recently, as maintaining a ‘Stable Outlook’ and additionally, was not listed on the agency’s Watchlist.

MMBL was also a semifinalist in the recently held European Microfinance Awards. Further, the Institute of Bankers Pakistan has also recognized MMBL as the “Bank of the Unbanked” continuously for the last two years.

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A number of countries have also reported cases of the VUI-202012/01, the new and more infectious strain of Coronavirus which originated from the UK.

According to details, Denmark, Italy, Gibraltar, the Netherlands, and Australia have confirmed cases of the mutated Coronavirus strain. Meanwhile, France and South Africa have said that it is possible that the new variant of the virus is already transmitting in both countries, but no cases have been officially reported yet.

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On Sunday, Maria Van Kerkhove, the World Health Organization’s (WHO) COVID-19 technical lead, confirmed cases of the new strain in Denmark, Netherlands, and Australia.

The Italian health ministry also revealed the presence of the mutated Coronavirus in the country the next day.

A spokesperson for the British Government has confirmed that the British overseas territory of Gibraltar has reported the first case of the new strain of the virus as well.

While South Africa and France have detected a strain of the Coronavirus similar to the one from the UK, an official confirmation is awaited as health authorities of both countries have not yet determined whether it is the same variant or not.

The new strain of Coronavirus, which is 70% more transmissible than the original one, was first detected in southern England earlier this month and has spread all over the UK since then.

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From Canada to Hong Kong, many countries have either banned travel or imposed restrictions on passengers coming from the UK in a bid to contain the VUI-202012/01 from spreading further.

However, healthcare experts are dreading the worst as they believe the mutated strain has already been transmitted all over the world. It is because, on 2 December, the British government had lifted its national lockdown, allowing citizens to travel internationally from the UK which might have resulted in the spread of the mutated Coronavirus to other countries.

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The Special Assistant to the Punjab Chief Minister on Information, Dr. Firdous Ashiq Awan, declared on Monday that the Punjab Rozgar Scheme will provide more than 1.6 million jobs for the needy.

While addressing a press conference during her visit to the Lahore Chamber of Commerce & Industry, Dr. Awan said that under the scheme, loans ranging from Rs. 100,000 to Rs. 10 million will be given at minimal interest rates to applicants between the ages of 20 and 50.

She added that Chief Minister, Sardar Usman Buzdar, will issue a notification regarding tax exemption for outdoor advertising from April to June soon, and that the government is considering the Outdoor Advertising Association’s demand to lower the Parks & Horticulture Authority’s (PHA) rates for outdoor advertising.

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Dr. Awan said that the government of Punjab had introduced a comprehensive and integrated industrial policy to promote industries for the first time in the history of Pakistan.

The government has simultaneously promulgated the Anti-Hoarding Ordinance 2020, and has also launched the Qeemat Punjab mobile phone application for the checking of prices and the registration of complaints. Additionally, 362 Sahulat Bazaars have been established across the province by the government.

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While praising the provincial government’s efforts, Dr. Awan said that it had set up consumer courts in 17 districts, launched a loan program on soft conditions for the revival of the cottage industry, and allocated Rs. 1.5 billion for the Hunarmand Jawan program to create jobs for the youth.

Regarding her views about Maryam Nawaz, she said, “Maryam Nawaz is the queen of corruption and she could not compete with the elected representatives of the people who came to the assemblies with the power of the vote”.

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