Cement export from north zone stands at 0.349m tons

Lahore (Staff Reporter): The All Pakistan Cement Manufacturers Association has said that cement export continued to disappoint in August 2015, as exports from North zone were 349,873 metric tons while exports from South zone were 216,815 metric tons. Against 827,707 metric tons of cement exported in August 2014 the exports were restricted to only 566,689 metric tons in August 15 i.e. a decline of 31.54 per cent. If the combined dispatches of first two months of current fiscal are analyzed, exports to Afghanistan declined by 18.24 percent to 394,500 metric tons compared to 482,528 metric tons during July and August 2014 while exports to India showed substantial reduction to 100,437 metric tons during July and August.

, 2015 against 140,131 metric tons during same months last year i.e. downfall of more than 28 percent.

A spokesman of APCMA said that the exports to Afghanistan are gradually drying due to inroads made by the Iranian cement. In fact, he added the Iranian cement is also penetrating Pakistani markets on the strength of massive under invoicing that remains unchecked. He added that domestic uptake is a good sign for the industry however the decline in exports should be taken seriously.

FRWO to contest LCCI polls from PIAF-Founder Alliance platform

LAHORE (Staff Reporter): The Ferozepur Road Welfare Industrial Organization (FRWO) has announced to support PIAF-Founder Alliance in upcoming polls of LCCI and nominated its representative Mian Abdul Razzaq for chamber class elections, who will contest election 2015 on Alliance platform. FRWO Chairman Adeeb Iqbal Sheikh said that Ferozepur Road Welfare Industrial Organization is also hosting a reception in honour of the PIAF-Founder Alliance on Tuesday to announce formal support for it. The meeting will be attended by PIAF chairman Irfan Iqbal Sheikh, Sheikh Arshad, vice chairman Kh Shahzeb Akram, Rana Mubashir Iqbal, Tariq Javed Fiazi, Manzoor Elahi Taj, Sheikh Riaz Ahmed and others.

Adeeb Iqbal Sheikh informed that Ferozepure Road Industrial area has more than 300 industrial units and trading houses catering to the needs of over one hundred and fifty thousands of people directly or indirectly but due to non-availability of fundamental facilities, the industrialists were facing multiple problems.

He said that the business community of Ferozepure Road Industrial area had always backed PIAF-Founders alliance and in the forthcoming election it would also extend their fullest support to the Alliance.

Deduction of WHT from filers to bit banks, deepen crisis

ISLAMABAD (INP): Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt on Sunday said some banks continue to deduct withholding tax (WHT) on transactions from filers which is illegal as well as unethical.The attitude of banks amounts to frustrate government’s move to boost revenue through enhanced taxation on transactions. The negative practices by some banks continue to frustrate masses and honest taxpayers which may intensify standoff between business community and government over WHT, he said. Shahid Rasheed Butt said that financial institutions should not trigger opposition to WHT on bank transactions to maximise their profits as it is highly unethical and illegal.

Banks are already facing reduced deposits and transaction while negative methods will deprive them of the faith of masses which will help parallel banking system which is already gaining momentum in the country, he observed.

The veteran business leader said that it is responsibility of the government to ensure transparency in deduction of WHT on bank transaction otherwise banks will promote underground economy in their own interest.

He said that government should discourage undocumented economy which is already expanding which will leave government will no option to pick begging bowl as situation of exports and taxes is highly unsatisfactory.

Government imposed WHT on bank transactions to raise additional 100 billion rupees while the protest of traders has already cause losses to the tune of 300 billion which may raise to Rs500 billion until Eid.

Development work on STZ in Sialkot accelerated

SIALKOT (APP): The development work on mega project of Sialkot Tanneries Zone (STZ) has been accelerated and allotment of plots will be started by the end of current month. The STZ was being developed on 392 acres costing Rs406m and it was designed to accommodate shifting of 276 existing tanneries functioning in ten clusters around Sialkot. The road infrastructure in the Zone had been completed. Sialkot is recognized as one of the leading exporters of leather products in Pakistan. Tanneries around the city are involved in processing of finished leather and “Wet Blue” hides, are degrading environment. Sources in Sialkot Chamber told APP on Sunday, the concept of setting up of STZ was to ensure pollution-free atmosphere to the people.

The Global Environment Facility (GEF) had also approved US$ 3.7 million for the project “Mainstreaming Climate Change Adoption through Water Resource Management in Sialkot Tannery Zone Development”.

Under the project, the UNIDO has submitted its report to GEF after consultation with the stakeholders to seek funding under Technical Assistance Programme which would help in development of the project according to the international standard.

Conceptual design of Common Effluent Treatment Plan has also been finalized and its estimated cost will be Rs 1.3 billion which will be contributed by the government and donor agencies on equal share basis, sources added.

PCRWR signs MoU with PARC on efficient use of water in dry areas

ISLAMABAD (APP): Pakistan Council of Research in Water Resources (PCRWR) has signed a MoU with PARC to support and coordinate research and dissemination for agriculture development and efficient use of water in dry areas, especially Cholistan Desert and Balochistan. According to official sources, PARC will help PCRWR in providing various plants, especially olives. PCRWR has already completed plantation of olives on 5 acres in Cholistan using drip irrigation and solar pumping systems, and another 15 acres will be added with the help of PARC. This will be a green revolution in desert areas because of high economic return and may contribute towards edible oil requirements of the country as seen in neighboring Rajasthan.

The MoU will also help a similar initiative in Balochistan.