Omar Farid?s ?psychedelic narratives? on display
Islamabad
Gallery6 has made it a tradition to present the works of artists who have never or rarely exhibited in Islamabad. Continuing the tren
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Budget deficit to rise to $800m, if KL Bill is cancelled
KARACHI: Federal Finance Minister Shaukat Tarin said if the Kerry-Lugar Bill is cancelled, the government will have to incur budget deficit of $800 million during the current fiscal year, for which government will have to recourse to International Monetary Fund (IMF) for more debts, adding the government will have to slash its expenditures as well.
Addressing a seminar here, he said the expected amount to be received from Kerry-Lugar Bill is bound to be used on the social works and the areas hit by war against terrorism.
Shaukat Tarin said a plan is being hammered out in concert with the central bank in view of depreciating dollar at international level, so that forex reserves could be shifted to two to three currencies.
The federal finance minister said during the first quarterly of the current fiscal year, the target of budget deficit was 1.5 percent against 1.7 percent. He also underscored that the government decided not to give loans to all the government institutions including Pakistan Steel.
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NA approves law to end brokers?
ISLAMABAD: The National Assembly has approved the corporatisation, demutualisation and integration law of stock exchanges, which would be soon placed
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QA Trophy matches shifted from Peshawar to R?pindi, Islamabad
PESHAWAR: Two round matches of the Quaid-i-Azam Trophy have been shifted from Peshawar to Rawalpindi and Islamabad due to suicide explosion here on Friday.
Following the bomb blast in Peshawar, an emergency meeting of the Pakistan Cricket Board?s domestic wing was held at the Gaddafi Stadium Lahore.
This has been decided in the meeting to shift the first two round matches of the Quaid-i-Azam Trophy from Peshawar.
Now the match scheduled to be played between Peshawar and Karachi Bears at Peshawar from tomorrow will be held at the KRL Stadium Rawalpindi from October 11 to 14 while the second round match between Peshawar and Quetta will be played from October 16 to 19 at the National Cricket Ground Islamabad.
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40pc of NTN holders do not file tax returns: FBR chief
ISLAMABAD: Chairman Federal Board of Revenue (FBR) Sohail Ahnmed on Friday said that out of 1.7 million National Tax Number (NTN) holders only 60 percent file their returns while 40 percent do not file.
“We have initially identified 13,000 NTM holders who filed their returns last year but did not pay taxes according to their expenditures or sources of income will be issued notices asking them to pay their due taxes to avoid actions,? he told media at an informal meeting here at FBR house today. Newly appointed Spokesman and Member Direct Tax Policy of FBR, Asrar Raouf was also present on the occasion.
He added that the FBR would encourage them to correct their record and pay taxes according to their expenditures from resources otherwise their data will be checked from the “Data bank of the FBR” and the evaded amount would be recovered from them.
The Chairman FBR said that the government has facilitated the taxpayers and launched Universal Self Assessment Scheme (USAS) to file their returns honestly and according to their income and expenditures to the revenue department.
“If the taxpayers , despite this facility evade taxes than it is the right of the tax collecting authority to check the returns through audit whenever and wherever they felt necessary and find fault”, he remarked. Reply to a question, Chairman FBR Sohail Ahmed said that this year the ratio e filing was progressing well.
He said that in the year July 1, 2010 the Value Added Tax (VAT) would replace the General Sales Tax (GST). Sohail Ahemed said that he as Chairman of FBR is enjoying full authority to run the organization adding his organization was also enjoying full autonomy.
He said those employees would be given monetary rewards who performed well and achieved their given revenue targets. He was of the view that tax to GDP ratio could be enhanced provided the taxpayers should file their returns properly and pay their due taxes to the country.
He said that Taxpayers were paying their taxes because they knew that FBR was there to question them. He expressed the hope that Data bank of the FBR would help identify more taxpayers who do not pay their due taxes to the government.
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Security forces raid GHQ attackers? residence
ISLAMABAD: Security forces Saturday raided a house in Islamabad, about 5 to 6 kilometers away from GHQ, where the terrorists had been residing before launching the attack at GHQ, sources said.
Security forces have arrested the owner of the house where the terrorists had planned the attack, sources added. The terrorists were believed to have been residing in this house for the last three to four months, sources said.
Security uniforms, shoes, badges, documents, diaries and detonators have been recovered from the house, sources said.
The photos of the killed terrorists provided lead to the security forces, pointing to the residence of terrorists.
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KSE-100 Index at 13-month high this week
KARACHI: The benchmark KSE-100 Index hit 9,900 level during this week?s trading for the first time in the last 13 months.
But the bomb blast in Peshawar on Friday eroded the gains and the Index could not maintain the above level.
The market witnessed heavy fluctuations this week which were triggered mainly by the fragile law and order situation in the country and the major Index stood at 9,769 at weekend. The Index gained 314 points during the week.
The average trade volume was recorded at 270 million shares.
KSE-30 Index finished 210 points up to 10,381.
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Pakistan News
Weren?t they supposed to call on generals?
ISLAMABAD: The ?constitutional chain of command? comprising the president, the prime minister and the defence minister was not taken into confidence b
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Terrorists hold 10-15 people hostage in security office
ISLAMABAD: About 4 to 5 terrorists in a security office near second GHQ check post are holding 10-15 people, including security and civil personnel, hostage after the attempted attack on GHQ, DG ISPR Maj. General Athar Abbas said on Saturday.
Security personnel have surrounded the office, ISPR added.
Earlier, six terrorists attempted to launch an attack on GHQ which was foiled by the security personnel. Four terrorists were killed while two escaped from the scene. Six security men including a Brigadier Anwar and Lt. Col. Wasim were also martyred in the incident.
Six terrorists in army uniform attempted to get entry into GHQ at 11:30 am on Saturday from gate no 1. When stopped by security officials, they reached at check post no 1 and opened fire on security men after taking positions after leaving the car. Four terrorists were killed and two fled during trade of fire between security officials and terrorists. Army gunship helicopters started hovering over the area for vigilance. The commandos seized the bodies of terrorists and shifted them.
The DG ISPR confirmed killing of four terrorists whereas six security personnel including Brigadier Anwar and Lt. Col. Wasim were also martyred in the operation. Two terrorists managed to flee.
The security men later found that the escaped terrorists took shelter in a nearby security office which is now surrounded by security forces.
The ISPR said that more than two terrorists are in the security office where several security personnel are held hostage.
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Iftikhar seeks army operation in Waziristan
PESHAWAR: NWFP Information Minister Mian Iftikhar Hussain has urged upon federal government for elimination of terrorists? strongholds in Punjab and sought Malakand-type military operation in Waziristan, Geo news said.
This he stated while briefing journalists in Peshawar on Friday. He said terrorists have started targeting innocent people in order to pressurize government for cancellation of military operation in Waziristan.
Information minister demanded federal government of Malakad-type triumphant military operation in Waziristan in order to get rid of terrorism once for all.
?Suspected militants? strongholds, found in parts of Punjab province, must be uprooted?, he said and added, ?I strongly condemn terror attacks on military GHQ in Rawalpindi and appeal to people for extending government their all-out support for removal of menace of extremism from country.?
Minister, on the occasion, announced Rs.3,00,000 compensation money for heirs of those who lost their lives in Peshawar suicide attack on Friday and Rs. 100,000 for each wounded person.
Detailing over the material loss in Malakand Division, he said total loss of Rs.86 billion was estimated, caused by military operation over there.
He also asked federation for early release of rehabilitation money for Swat and Malakand Division.
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Pakistan News