Gwadar EPZ industries get 10-year tax exemption

By Sajid Chaudhry

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday notified a tax exemption on profits and gains of any industrial unit in the Gwadar Export Processing Zone (EPZ) for a period of 10 years.

The exemption will commence from the time the industrial unit is set up or begins commercial operations.

The FBR also notified that industrial units established in the Gwadar EPZ would be allowed to sell 50 percent of their produce in the local market, compared to 20 percent previously.

The remaining produce can be exported as per the producer’s preference.

Earlier, the industrial units located in the Gwadar EPZ needed to export 80 percent of their production for availing tax exemptions and incentives.

The FBR issued SRO 606(I)/2009, which amended the Second Schedule of the Income Tax Ordinance and added a new clause, 126-D, after clause 126-C.

The FBR also issued a notification SRO 612 (I)/2009 that amended the Customs Rules.

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Tajikistan seeks access to Gwadar port for exports

ISLAMABAD: Ambassador of Tajikistan, Zubaydov Zubaydullo Najotovich on Thursday said that his country is in a dire need of access to the world through Gwadar port of Pakistan.

The ambassador expressed these views during a meeting with the Federal Minister for Industries and Production, Mian Manzoor Ahmad Wattoo here today. During discussion he also pointed out that Pakistan was also looking to import Tajik power to its Northern Areas as Tajikistan has the huge hydropower potentials and cheapest electricity in the world.

Easy and smooth of energy supply has become mantra of every government around the globe. The ministers of four countries, Pakistan, Tajikistan, Kyrgyzstan and Afghanistan signed a resolution to proceed further with the Central Asia/South Asia Regional Electricity Market (Casarem) project envisaging transmission of 1300MW from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan; but further commitment to the project will be linked to the availability of financing. A consortium of three financial institutions i.e. Islamic Development Bank, Asian Development Bank and World Bank has recently agreed to provide $1 billion to Pakistan to import electricity from Central Asian Republics (CARs).
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Pakistan defeats England again and win the hockey series

England’s second half performance gave the crowd at Cannock something to shout about as they fought back against a three goal deficit to almost draw the second of three Test Matches against their Asian counterparts.

In a feisty first half – which saw temporary suspensions for Glenn Kirkham and Saijad Anwar – Pakistan went into the interval with a two goal advantage following goals from Muhammad Waqas and Muhammed Imran. Abdul Haseem Khan added a third in the second half before Surbiton duo James Tindall and Matt Daly mounted a come-back which was to prove too little too late.

England had an early opportunity with a fourth minute penalty corner but Ashley Jackson was denied by a dive to the right from Salman Akbar who was outstanding throughout in the Pakistan goal.

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Balochistan - Call for creation of Pashtoon province

QUETTA: The Pashtoon Qaumi Tehrik has called for creation of a ‘southern Pashtoonkhwa’ province comprising areas from Sibi to Zhob.

Addressing a gathering of PQT activists at the Meezan chowk here on Tuesday, the party’s leader, Rafiq Pashtoon, said it was unjustified to give the top posts of chief minister and governor of Balochistan to Balochs and demanded that till the creation of the new province one of the posts should be given to a Pashtoon.

He criticised former military leader Yahya Khan for merging Pashtoon areas from Sibi to Zhob into Balochistan and turning a majority into minority.

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Michael Jackson Is Dead

Michael Jackson has died due to cardiac arrest in LA.

The US will establish Reconstruction Opportunity Zones (ROZs) in NWFP, FATA and some parts of Balochistan for rapid industrial growth

RAWALPINDI: The US will establish Reconstruction Opportunity Zones (ROZs) in NWFP, FATA and some parts of Balochistan for rapid industrial growth and creation of employment opportunities in these underdeveloped and war-affected areas. US Embassy Political and Economic Officer Darren McKinnon stated this during his visit to Rawalpindi Chamber of Commerce and Industry (RCCI) on Wednesday, accompanied by US Embassy Commercial Expert Naheed Aslam. According to a press release, he said the legislation regarding establishment of ROZs was underway and would be approved by the American Congress very soon. “The most important feature of these industrial zones is that entire production made in a ROZ will be exported duty-free to USA,” he said.

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Demands For Province of Bahawalpur

Decades-old demand to restore the old Bahawalpur province got a new boost on Thursday when Senator Muhammad Ali Durrani, former information minister during Musharraf’s regime, demanded of Prime Minister Yousuf Raza Gilani to issue an executive order, fulfilling the commitment made by former governor general Ghulam Muhammad to the people of this area at the time of abolition of its separate status in 1954.

Durrani warned if the poverty-stricken people of Bahawalpur area, who were fast joining religious groups because of rising poverty and joblessness, were not given their right in the shape of a separate province, then the time would soon come when the military would be called in those areas too to conduct operation on the pattern of Balochistan and Fata.

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Indian Army Attacks Lalgarh

After Nandigram, another battle against the Maoist is starting in Lalgarh in West Bengal. In this small collection of villages the people are poor and complain of injustice by the Indian state. The Maoists have claimed it to be a free area and writ of Indian government is being challenged in this area.

Gwadar to be linked through rail, road networks

ISLAMABAD: The government plans to link the Gwadar seaport with the rest of the country through rail and road networks, Prime Minister Yousaf Raza Gilani said on Wednesday.

Responding to a suggestion of Pakistan Muslim League-Quaid (PML-Q) parliamentarian Ghous Buksh Mehar during the debate on the 2009-10 budget in the National Assembly, he said the government would develop the infrastructure in Balochistan and link Gwadar to other parts of the country. He said the Gwadar port was being used to import wheat and fertilizer, adding it would be transformed into a business and economic hub that would generate employment opportunities for the local population.

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Pakistan beat plucky Holland

Shahid Afridi’s four wickets overwhelmed the Dutch amateurs, while South Africa shaded it against New Zealand by one run
FIRST POSTED JUNE 10, 2009

Pakistan qualified yesterday for the Super Eight stage of the World Twenty20 at the expense of Holland after all-rounder Shahid Afridi put in the fourth best T20 bowling performance ever, taking 4 for 11 off just four overs.

The Dutch had previously beaten England in the opening fixture of the tournament, but chasing Pakistan's 175-5 proved too much for them as they were all out for just 93.

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