3 months ago

6 April 2018

6 April

CMYK CMYK CMYK National: Kashmir Solidarity Day to be observed today Page 3 International: Israel main threat to global security, Zarif tells NAM Page 5 Back: Blackbuck poaching case: Salman Khan gets 5 years in jail, other accused let off Page 8 CMYK Member APNS ABC CERTIFIED Reg. No. 1655 Rs 10.00 Vol. X No.97 8 Pages KARACHI EDITION – Friday, April 6, 2018, Rajab 19, 1439 CMYK On Tips Prayer Timings Karachi Fajr 5:01am Sunrise 6:09am Zohar 12:34pm Asr 5:04pm Maghrib 6:50pm Isha 8:08pm City Temperature Min Max Khi 22 ο C 33 ο C Lhr 21 ο C 33 ο C Isb 21 ο C 32 ο C Qta 14 ο C 26 ο C Psh 19 ο C 33 ο C KARACHI STOCK EXCHANGE VOLUME KSE-100 INDEX 233.35m 46,560.82 –36.82 457.21 270.17m 46,103.61 Last day’s Last day’s KSE-100 INDEX INTRA-DAY Highest 46,656.93 Lowest 46,085.10 FOREX RATES 1800GMT GBP/USD 1.40 EUR/USD 1.22 USD/JPY 107.39 USD/CHF 0.96 PPP to go against amnesty scheme: Raza Rabbani PM announces tax amnesty scheme for non-payers Pay 3% tax to whiten your ‘Black Money’ CNIC is your new tax number, only 700,000 paying income tax in Pakistan ISLAMABAD: The Prime Minister Shahid Khaqan Abbasi has announced the amnesty scheme for those who are not paying income tax amid to increase tax base and revenue. While addressing a news conference, he stated that maximum rate of income tax is being reduced from the existing 30% to 15%. Annual income of upto 1.2 million rupees would be exempt from the income tax. He further noted that of the 1.2m filers, only 700,000 actually paid tax, while others filed returns but paid no income tax. Of the taxpayers, "90 per cent of those who are paying income tax are those whose tax is deducted at source," he regretted. Presenting his package as an incentive for more people to pay taxes thanks to the substantial proposed reduction in the income tax rate, PMAbbasi stressed that he felt this to be the most optimum way to maximise the government's revenues keeping in mind the significant challenges it faces. “The maximum rate of income tax was being reduced from the existing 30% to 15%, Abbasi said and added annual income of upto Rs1.2 million would be exempted from the income tax. “An individual earning more than Rs4.8 million per annum will pay 15 percent tax,” he said, adding that the rate of income tax for the income bracket of 2.4 to 4.8 million rupees would be 10 percent. Abbasi went on to say that the amnesty scheme was being introduced to widen the tax net, adding that the state-of-the-art technology will be used to collect the tax. The Prime Minister said at present only 1.2 million people are filer income tax return out of a population of 207 million. He said of 1.2 million filers, only seven hundred thousands are paying tax while others only filed returns and paid no income tax. He said even those who are paying income tax include 90% whose tax is deducted at source. Prime Minister Abbasi expressed the confidence that the substantial reduction in income tax rate would serve as incentive for people to pay tax. He said Computerized National Identity Card number would now be the tax number of the citizens. He said in this way 120 million card Three including NBP president indicted in Ishaq Dar corruption case holders can become tax payer by filling a form. Explaining details of the amnesty scheme, the Prime Minister said it would be one time incentive upto 30th of June this year to declare hidden assets inside and outside Pakistan. He said five percent penalty would be imposed on cash or value of the local assets in Pakistan. He said those wishing to repatriate cash from abroad can do so by paying a penalty of two percent. Three percent penalty would be imposed on whitening of foreign assets. The Prime Minister said dollar accounts abroad can also be legitimized by paying five percent penalty. He said one percent presumptive tax would be levied on property transactions. He said if there is under-declaration of value then the government will have the option to buy the said property at 100% of the declared value. He said all data bases would be merged to identify potential tax payers on the basis of foreign travels, financial transactions, utility bills and fees of children. He said modern technology would be used to identify tax payers and those who are evading taxes. WAZIRISTAN: Chief of Army Staff (COAS), General Qamar Javed Bajwa exchange views with Father of Naqeeb Ullah Mehsud, condoled and offered Fateha during meeting. Elections will be held on time Will pack up if I fail to resist martial law: CJP ISLAMABAD: Chief Justice of Pakistan Mian Saqib Nisar has categorically said that the upcoming general elections will be held on time, without any delay. “There is no room for judicial martial law in the country,” he said while addressing an event held in honour of late human rights activist Asma Jahangir. He said that some people were spreading preplanned rumours about judicial martial law. “If I won’t be able to resist martial law I would pack up and go home, but would not endorse it,” he said, and vowed to resist any extra-constitutional move. Paying tribute to Asma Jahangir, the CJP said that she was a brave lady, who always supported the truth. “Once she complained against non-provision of relief,” the CJP said while recalling the day when they worked together. Chief Justice Nisar said that Jahangir would voluntarily take up cases of people who could not afford lawyers. Last week, CJP Nisar said that that there was going to be no judicial National Reconciliation Ordinance (NRO) or martial law. During hearing of a case regarding deputation of CDA officers, the CJP remarked that the country will be continued to run as per constitution and democracy. Earlier, Sheikh Rashid had asked CJP Mian Saqib Nisar to impose ‘judicial martial law’ for three months. He also announced that no interim PM will be accepted without consulting Imran Khan. CMYK ISLAMABAD: The former Chairman Senate Mian Raza Rabbani has said that the decision of the government to announce an amnesty scheme for whitening the black money is condemned and will be opposed in Parliament. In an statement on Thursday PPP leader said that such schemes are a license for big business to commit illegal acts and then get the opportunity of legalizing their ill-gotten wealth. In the past such schemes have failed. PTI wants general election in time, Babar Awan ISLAMABAD: PTI leader Dr. BabarAwan has made it clear that PTI would thwart any conspiracy at any cost for delaying next general election. While talking to media outside the office of ECP he said that this time Nawaz Sharif’s next destination would be Adiyala Jail instead of going Saudi Arabia. Ousted PM is speaking against national institutions just to hide his corruption cases. Sheikh Rashid says Nawaz Sharif’s next destination is jail ISLAMABAD: Head of Awami Muslim League Sheikh Rashid Ahmad has said that Nawaz Sharif’s next destination is jail and can not escape it at any cost. Talking to a private TV channel on Thursday Sheikh Rashid Ahmad further said that Nawaz Sharif is playing with the sentiments of the nation by constantly telling lies because if someone has to conceal one lie he had to speak a hundred lies. ISLAMABAD: The accountability court on Thursday indicted three coaccused in corruption case against former finance minister Ishaq Dar. The hearing of the case was adjourned several times before the verdict was finally announced. All the three co-accused – National Bank president Saeed Ahmad and Naeem Mehmood, Mansoor Raza Rizvi pleaded not guilty against the charges. The trio faced charges of aiding Dar in opening fictitious bank accounts and transferring money abroad. The National Accountability Bureau (NAB) had filed an interim reference against Dar in September 2017 on the Supreme Court’s directives in the Panama Papers case. During hearing, the NBP president informed the court that he had challenged his indictment in the Supreme Court, but the accountability court judge COAS assures support to Naqeeb’s family for justice MAKEEN: Chief of Army Staff General Qamar Javed Bajwa on Thursday said Army shall support all the efforts to let Naqeeb Ullah Mehsud’s family get justice in their son’s murder case. This he said while he met Naqeeb’s father at Makeen in South Waziristan Agency (SWA). The Army chief condoled over the death of the tribal youth and offered Fatiha for the departed soul. The commander Peshawar corps and inspector general frontier corps (south) Khyber Pakhtunkhwa were also present during the visit. 27-year-old Naqeebullah Mehsud was killed in a staged encounter led by former senior superintendent police RaoAnwar in Karachi on January 13. The murder triggered widespread outrage on social media when the family of aspiring fashion model rejected claims that Mehsud was a member of a terrorist outfit and had any criminal record. NAB reinvestigates 110 older cases after pulling out from red tapes I S L A M A B A D : looters identified in these Chairman National cases. Accountability Bureau A charged chairman (NAB)Justice(R) Javed NAB also took cognizance Iqbal has succeeded in of media report about the finalizing two decades old bogus recruitment made in dormant investigation of Accountability commission 110 mega corruption KPK and has directed scams out of 179 involving director general NAB to multi billion rupees. These cases were put in cold storage by former look into the report and initiate inquiry against the relevant officers. administration of NAB to Two days ago media grant undue favors to the had highlighted the illegal corrupt element of the recruitment being made in country aristocracy KPK accountability commission despite the crystal clear by scrupulous ele- directions of the apex ments of KPK government court to retrieved plundered which has caused huge loss money from the to the public exchequer. ruled that proceedings would continue until further directions from the apex court. Third accused in the case, Mansoor Raza Rizvi, submitted an unconditional apology in the court over his counsel’s altercation with the judge in the last hearing. He further informed that Javed Akbar Shah was no longer his legal counsel. The hearing was adjourned till April 11. Pakistan urges HR champions to stop Indian reign of terror in IOK ISLAMABAD: Pakistan has urged the human rights champions to act immediately to get stopped the Indian reign of terror in Occupied Kashmir. At his weekly news briefing here on Thursday, Foreign Office Spokesperson Dr. Muhammad Faisal said that Kashmiri people also expect the international community to fulfill its obligations for the resolution of lingering Kashmir dispute. The spokesperson said that Pakistan has strongly reacted to the recent Indian brutalities in occupied valley which claimed the lives of twenty Kashmiri youth and injured three hundred others. He said that over forty people also lost their vision in the valley due to the use of pellet guns by the occupying forces. He said this mindless killing spree has exposed the ugly and inhumane face of India. He said Pakistan has expressed full solidarity with the Kashmiri people and it will continue to extend its moral, political and diplomatic support to their just cause for right to self-determination. CMYK CMYK CMYK

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