Illegal gateway exchange raided

in district Kasur

ISLAMABAD (APP):Pakistan Telecommunication Authority (PTA) in its ongoing efforts to control grey trafficking, unearthed another illegal gateway exchange at Khudian Khas, District Kasur. According to details, a successful raid against the grey operators was carried out along with FIA team at Khudian Khas, District Kasur. During the raid, an illegal exchange comprising of 2 illegal gateways, 16 ports, laptop, DSL modem and hundreds of SIMs were confiscated. Two persons identified as Muhammad Riaz and Nawaz were arrested from the spot and were in FIA custody for further investigation.

The successful raids against the grey operators were made possible because of continuous monitoring, commitment and persistent efforts by PTA in curbing the menace of grey traffic thus curtailing the loss to the national exchequer because of grey traffickers in the country.

International investment conference starts on Monday

ISLAMABAD (APP): Two-day International Investment Conference will be held here on October 27 and 28 with an aim to highlight the investment regime and available opportunities for investment in various sectors of the country’s economy. The conference is being organized by Board of Investment (BoI) and is scheduled to be attended by more than 150 foreign and hundreds of local investors. Pakistan is already home to many successful companies, as some companies initiated business here while others have come here to invest and grow. This conference will provide an opportunity to show Pakistan’s strengths as an excellent place to do business and one that is open to foreign investment.

The conference will provide a platform to businessmen and investors to interact with each other and explore opportunities for joint ventures in various sectors, said a statement issued by the board here Wednesday.

The Conference will continue for two days with discussions on energy, oil and gas, privatization, roads and infrastructure, agriculture and livestock, mining and minerals as well as success stories from investors in various sectors.

Finance Minister, Ishaq Dar, Minister for Water and Power, Khwaja Asif, Minister for Petroleum, Shahid Khaqan Abbassi, Minister for Commerce, Khurram Dastagir and senior officers from public sector and professionals from private sectors would address the gathering to highlight country’s potential for investments.

Dar off to China to ink MoU for AIIB

islamabad (Staff Reporter): Finance Minister Senator Ishaq Dar left for Beijing on Wednesday to attend the MoU signing ceremony of the Asian Infrastructure Investment Bank, AIIB. The minister will sign the document for Pakistan as founding member. The ceremony is scheduled to be held on 24th of October at Beijing. During the visit, the minister will also hold meetings with senior Chinese officials, heads of financial institutions and banks to firm up prospective Chinese investment/funding in the CPEC projects, especially energy sector. The minister will also meet the Pakistani community besides having detailed interaction with Chinese media during his stay.

Students of Superior versity visit LSE

lahore (Staff Reporter): Students of Superior University visited the Lahore Stock Exchange as part of the Campus Outreach Program under Financial Literacy Initiative, in collaboration with South Asian Federation of Exchange (SAFE). Managing Director and Chief Executive officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry was the chief guest. Here, they were given an insight about practical aspects of various financial institutions and investment avenues by industry professionals. Miss. Gitee Bhatti from Corporate Communications Department briefed the students on the need for setting up CDC and various facilities being offered by CDC not only to add efficiency but also for increased transparency & investors confidence.

She explained as to how investors can use various CDC services for protecting their portfolios. Students were introduced to the existing stock market investors, who shared their experiences and success story before the participants. Later, the students visited various banks and brokerage houses where they were given synopsis on the functioning of these institutions such as live market trading, banking products & services, lending & borrowing services, clearing and local as well as international remittances, etc.

Call to withdraw GST on jewellers

lahore (Staff Reporter): The Regional Standing Committee on Gems & Jewellery, FPCCI and Lahore Division Sarafa & Jewellers Association in a joint meeting, have expressed concern over the imposition of General Sales Tax (GST) on jewellers through SRO-608. The meeting was presided over by Muhammad Ahmad, Chairman Regional Standing Committee on Gems & Jewellery FPCCI at FPCCI regional office here On Tuesday. Jewellers representatives Mukarram Ali, Muhammad Shafiq Butt, Rana Muhammad Asghar and Muhammad Javed Rana in their address, said that SRO-608 was against the interest of jewellers, and in the existence of this SRO, it would be impossible for the jewellers to continue their business.

They

demanded the government to withdraw the SRO at the earliest.

Addressing on the occasion, Chairman Muhammad Ahmad said the government of

Pakistan Muslim League-N had imposed GST on jewellers in 1998 and the

jewellers community in protest closed their business for 28 days.

Considering the demand of jewellers as legitimate, the government had to

withdraw GST, he added.

He said that jewellers community had already hit hard by ever increasing

gold prices, and the imposition of GST on them would further aggravate

their miseries and force them to close their business once for all. On the

one side, the government is receiving double GST on electricity bills and

on the other hand, jewellers were forced to get themselves registered for

GST.