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  NPHP Sets Its Way to Sargodha..

  Sargodha: According to media sources, the Government of Punjab has chosen to include the district of Sargodha in a list of cities that are set to launch affordable housing projects under the Naya Pakistan Housing Program.   The federal govt has advised the district local authorities to define suitable locations for the project. To date, at least three residential locations have been reported by the authorities.     The Housing Minister of Punjab Mian Mehmood-ur-Rasheed will visit Sargodha for evaluation this week, according to the reports.   Haji Mumtaz Akhtar, Chairman Sargodha Development Authority, said that administration work for the permission of societies and related issues will begin as soon as the Punjab govt finalizes the project site.

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  Qatar Comes to Rescue Economy of Pakistan..

  Qatar will invest USD 22 bn in Pakistan   Islamabad: A media report said that the Qatar state shows its inclination to make USD 22 billion investment in various industries of Pakistan (including electricity and infrastructure).   It is reported that on his trip to Pakistan on June 23 Qatari Emir Sheikh Tamim bin Hamad Al-Thani will conclude agreements to that end.   Railway Minister Sheik Rasheed recently verified the media accounts concerning Sheik Tamim's trip to Pakistan and Qatari's subsequent investment in the country.   Previously, the Naya Pakistan Housing (NPHP) Program had a stake in the Qatari delegation. The federal government is planning to build five million cheap homes by 2023 under this project.   Sheik Faisal Bin Thani Al-Thani conducted a meeting with the Prime Minister's Adviser (PM) on Commerce, Abdul Razak Dawood, in April, in order to address future collaboration on the NPHP.   He said Qatar wanted to build a long-term relationship with Pakistan. He noted that his state wished to establish long term diplomatic relations for the next 10-15 years.

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  A Proud of Pakistan Pakistan Army Wins International Military Drill Co..

  Pakistan Army won the Sandhurst Royal Military Academy international naval exercise competition in the UK.   “Pakistan Army won an international military drill competition, known as Pace Sticking Competition, held today at the Royal Military Academy Sandhurst, UK,”    A statement issued by the (ISPR) on Thursday. The Military media wing noted that for the second consecutive year, the Pakistan Army team won this competition.   The event was first attended by the Pakistan Army last year.   The team from the Military Academy of Pakistan, represented Pakistan Army at the competition, according to ISPR. In the Cambrian Patrol competition conducted in Wales in October 2018, an 11-member Pakistan Army Team won the gold medal.   All team members were brave soldiers from Gilgit-Baltistan and were of a Northern Light Infantry regiment.

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  PTI Govt Adjusted $518 million from World Bank for ‘tax reforms’..

  ISLAMABAD: On Friday, the Tehreek-e-Insaf Government of Pakistan at Center, and Khyber-Pakhtunkhwa, in the name of tax revenue improvement, secured $518 or Rs79 billions of World Bank funds – a task to do without burdening the country with foreign loans.    A bundle of $518 million was approved by the World Bank to promote two efforts aiming at Pakistan's ambitious revenue generating and cost-reduction projects to offer better facilities to its citizens, according to the World Bank Country Office on Friday.   The WB approved $400 million loans for tax reforms in Federal of Revenue and another $118 million for Khyber-Pakhtunkhwa Revenue Mobilisation and Public Resource Management Project.   The decisions by PTI to take loans to raise the tax base posed concerns about Imran's allegation that because of the past oppressive PML-N Government individuals are not subject to the tax net.   The WB provided $518 million of concessionary rates – cash that could have been more productive if an asset could have been created.  It will be the second full-scale attempt by the WB to reform the FBR in the past 14 years. It’s earlier $150 million worth of Tax Administration Reforms Project badly failed to yield the desired results and the money went down the drain.   Out of $400 million, $320 million will be linked with the achievement of certain targets. The WB document claims that Pakistan needs to broaden the tax base instead of burdening the existing taxpayers. However, the IMF’s practical steps are contrary to this advice. The IMF has asked Pakistan to make tax efforts equal to 1.7 per cent of GDP next year that forced the government to slap at least Rs516 billion additional taxes in budget 2019-20.    “The ($400 million) project will target raising the tax-to-GDP ratio to 17 per cent by the financial year 2023-2024 and widening the tax net from the current 1.2 million to at least 3.5 million active taxpayers”,   said The WB Task Team Leader of the Project Muhammad Waheed.    “Creating fiscal space through revenue mobilisation is critical to reducing the country’s budget deficit, enabling people of Pakistan to benefit from better public investments and services,” said World Bank Country Director for Pakistan Illango Patchamuthu.   Provincial government with $118 million Revenue Mobilization, will help to build its income collection and manage funds in Khyber-Pakhtunkhwa, according to the World Bank.

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  Budget Cuts Facility for Export-Oriented Sectors..

  Islamabad: A media source has revealed that, with Budget 2019-20, the govt has chosen to stop the zero-rating facility for the five export-oriented industries.   These include fabrics, tapestries, sports goods and surgical equipment. These industries will now bear imposed 17% sales tax.   During his budget address, Revenue Minister Hammad Azhar said the center was aimed at solving delays in payment transactions. Zero-rating, however, has developed a gap, and unintended beneficiaries profited with this.   Read More: Under Naya Pakistan Housing Project: 32,000 Houses Approved For KP   The govt has promised quick payment claims for actual exports instead of zero ratings. Sales tax refunds will be streamlined for these industries. The sales tax earned on inputs will be refunded instantly.   Incremental revenue, through adjustment of the GST level in different fields and the elimination of zero rates, is expected to increase PKL 250 billion from sales taxes.

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