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PM KAKAR ARRIVES IN UAE TO ADVANCE BILATERAL TIES IN ALL SPHERES Monday, 27 november, 2023 i 12 Jamada al-awal, 1445
Rs 15.00 | Vol XIV No 148 I 8 Pages I Karachi Edition
FO says MoUs will be signed between two countries in a range of areas g He will also plead Pakistan’s PM for improving tax system case at key session of upcoming to boost economic growth COP-28 being held on Dec 1-2 g
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ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar on Sunday stressed the need for improving the taxation system to boost the country’s economic growth. In an interview with PTV news, the prime minister said the private sector should take the responsibility of wealth creating and play role of engine of growth for the country, while the government’s focus should be on policy making and taxing that wealth. He said the government spending of the accumulated tax should also be done in a more responsible way. The prime minister visited the PTV headquarters here on the 59th anniversary of the founding of PTV where he also cut the cake to celebrate the anniversary along with employees of PTV. On the occasion, the prime minister congratulating the PTV said that the Pakistan Television played important role in propagating the Pakistan’s soft image and identity across the world. To a question with respect to Balochistan’s natural resources, the prime minister said most of the valuable minerals and resources such as gold and copper had not been exploited yet.
ABU DHABI/ISLAMABAD Staff RepoRt
ARETAKER Prime Minister Anwaarul Haq Kakar on Sunday arrived here on a two-day visit to the United Arab Emirates (UAE). Minister for Justice of the UAE Abdullah Sultan bin Awad Al Nuaimi and Pakistani diplomatic staff received the prime minister on his arrival at the Abu Dhabi’s Al-Bateen Airport, a Prime Minister Office Press Release said. The visit will also include signing of MoUs between Pakistan and the UAE in a range of areas including in-
vestment cooperation in the sectors of energy, port operations projects, waste water treatment, food security, logistics, mining, aviation, and banking and financial services. Earlier, Caretaker Prime Minister Anwaarul Haq Kakar on Sunday departed for United Arab Emirates (UAE) on a three-day official visit. According to the Prime Minister’s Office, the premier will meet UAE President Sheikh Mohamed bin Zayed during his visit from Nov 26 to 28. In a statement released earlier on Sunday, the Foreign Office (FO) said that the visit would provide “an opportunity to advance bilateral ties in all
Implementation of 40% windfall tax on banks’ profits hits snag ISLAMABAD
Staff RepoRt
The Federal Board of Revenue’s (FBR) notification imposing a 40% additional tax on banks’ windfall profits has been met with uncertainty as it requires approval from the National Assembly by February 19, 2024. The formation of the National Assembly is not expected until after the upcoming general elections, raising concerns about the timely implementation of the tax measure. The FBR issued SRO 1588(I)/2023 on November 21, 2023, invoking its powers under Section 99D(2) of the Income Tax Ordinance to tax banks’ windfall profits. The notification outlines the calculation method and formula for determining the 40% tax. However, Section 99D(3) of the Income Tax Ordinance mandates that the federal government obtain approval from the National Assembly for such a tax measure. The deadline for submitting the notification to the National Assembly is February 19, 2024. With the general elections scheduled to take place in the coming months, the formation of the National Assembly is unlikely to occur before the February 19 deadline. This raises questions about the validity of the FBR’s notification and the enforceability of the windfall tax. Industry experts have expressed concerns about the rushed implementation of the tax, suggesting that it may lead to legal challenges and hinder investment in the banking sector. They urge the government to reconsider the timeline and ensure proper legislative processes are followed.
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spheres including political, economic, trade, investment, cultural, defence and people-to- people relations.” The visit will also include signing of memorandum of understandings between Pakistan and the UAE in a range of areas including investment cooperation in the sectors of energy, port operations projects, waste water treatment, food security, logistics, mining, aviation, and banking and financial services, the FO said. “Pakistan and the UAE enjoy warm and long-standing fraternal ties that have stood multiple tests of time,” it added. Kakar would also later plead Pakistan’s case at a key session of the upcoming 28th Confer-
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ence of Parties (COP-28) scheduled to be held in the UAE on Dec 1-2. In a meeting earlier this week, the interim PM had directed the authorities concerned to make full preparations for presenting Pakistan’s stance during the COP-28 on climate finance and other issues effectively. PTV’s role in highlighting Pakistan’s identity commended. Earlier, Caretaker Prime Minister Anwaarul Haq Kakar commended the Pakistan Television (PTV) for playing a key role in highlighting Pakistan’s identity and portraying soft image of the country.
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Hamas free more Israeli, Thai hostages including American girl, 4 JERUSALEM/GAZA agencieS
On the third day of a truce with Israel, a four-yearold American girl held by Hamas in Gaza was released on Sunday, President Joe Biden confirmed, as the Palestinian group said it had handed over 13 Israeli hostages, three Thais and one with Russian citizenship. The release of some of the hostages captured when Hamas fighters rampaged through southern Israel on Oct. 7 is expected to be mirrored by the Israelis freeing another group of 39 Palestinian prisoners as on previous days in the truce. Biden said he hoped the pause in fighting between Israel and Hamas can go on as long as prisoners are getting released. He said he hoped more Americans would be released by Hamas although he did not have firm news. Biden said the 4-yearold hostage, Abigail Edan, had witnessed her parents being killed by Hamas fighters during their Oct. 7 raid into Israel and had been held since then. “What she endured is unthinkable,” Biden said at a news conference in the U.S. The four-day truce is the first halt in fighting in the seven weeks since Hamas killed 1,200 people and took about 240 hostages back into Gaza. In response to that attack, Israel has vowed to destroy the Hamas militants who run Gaza, bombarding the enclave and mounting a ground offensive in the north. Some 14,800 Palestinians have been killed, Gaza health authorities say, and hun-
dreds of thousands displaced. Israeli Prime Minister Benjamin Netanyahu on Sunday met security forces inside the Gaza Strip and indicated that the campaign was far from over. “Nothing will stop us, and we are convinced that we have the strength, the power, the will and the determination to achieve all the goals of the war, and that is what we will do,” he said. Netanyahu is expected to speak to Biden later on Sunday. 39 PALESTINIAN CHILDREN TO BE FREED IN 3RD SET OF RELEASES UNDER HOSTAGE SWAP DEAL In Ramallah, Palestinian authorities released on Sunday the names of Palestinian prisoners set to be released in the third batch of hostage exchange between Israel and Hamas. The list, revealed by the governmental Commission of Detainees’ Affairs and Palestinian Prisoners Society, a local nongovernmental organization, exclusively included the names of child prisoners, totaling 39.Among them are 21 children from Jerusalem, one is from Rafah in the Gaza Strip, and the remainders are from various parts of the West Bank. FARMER KILLED The killing of a Palestinian farmer in the central Gaza Strip had earlier added to concerns over the fragility of the truce. The farmer was killed when targeted by Israeli forces east of Gaza’s long-established Maghazi refugee camp, the Palestinian Red Crescent said.
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‘Amid PPP opposition,’ PM Kakar nominates Dar as leader of house in senate ISLAMABAD
Staff RepoRt
Caretaker Prime Minister Anwaarul Haq Kakar has nominated PML-N leader Ishaq Dar as Leader of the House in Senate. According to sources, Senator Saleem Mandviwalla has been appointed as the Chief Whip Senate and his designation will be equal to that of the State Minister. The Pakistan People Party (PPP) is unhappy with the decision and has already raised objections to the nomination of PML-N leader Ishaq Dar. On Monday last, Caretaker Minister for Parliamentary Affairs Murtaza Solangi had informed the Senate that Caretaker Prime Minister Anwaarul Haq Kakar had endorsed Senator Ishaq Dar as Leader of the House and Senator Saleem Mandviwalla as Chief Whip with status of Minister of State. Responding to a point raised by Senator Shahadat Awan during the session on October 30 regarding the status of leaders of the House and Opposition, and the Chief Whip after completion of constitutional tenure of the last government, the minister clarified that as per parliamentary traditions, they would continue to perform their responsibilities. A notification regarding appointment of Saleem Manviwalla as Chief Whip had also been reissued, he added. On October 31, Senate Chairman Sadiq Sanjrani claimed that he had received consent from Caretaker Prime Minister to “retain Pakistan Muslim League-Nawaz (PML-N) Senator Ishaq Dar as Leader of the House”. During a special session of Upper House of Parliament, an objection was raised against the use of the title of Leader of the House by Ishaq Dar. PPP leader Shahadat Awan asked why the PML-N Senator had been labelled as the leader of the house on the agenda even though the elected government did not exist. Responding to the query, Chairman Sadiq Sanjrani said he had received consent from Caretaker Prime Minister (PM) Anwaarul Haq Kakar that Ishaq Dar would continue as the leader of the house.
ECP all set to issue list of 327 electoral symbols next week
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ISLAMABAD
Staff RepoRt
The Election Commission of Pakistan (ECP) has prepared list comprising 327 electoral symbols for political parties and independent candidates and appointed 32 Regional Election Commissioners (RECs) as Regional Monitoring Coordinators (RMCs) to ensure effective monitoring of general elections 2024. The ECP is likely to unveil the much-anticipated list of electoral symbols next week. The list boasts a diverse array of symbols, ranging from eagle, lion, and crane to arrows, swords, and bats. The list includes representations as varied as cars, jeeps, bulbs, ducks, birds, and flowers. Even everyday items like soap dishes and thermoses have found their place among the plethora of symbols, creating a unique visual narrative for the electorate. With a total of 327 electoral symbols, the ECP ensured an extensive selection process that allows political parties and independent candidates to align their campaigns with symbols that resonate with their ethos and communicate effectively with the voters. The Election Commission of Pakistan (ECP) announcing the reserved verdict ordered Pakistan Tehreek-e-Insaf (PTI) intra-party elections within 20 days.