Education, health, food to be exempted from VAT: Dr. Hafeez
ISLAMABAD: Maintaining the economic stabilization achieved by the government and sustainable economic development would be on the top of government priorities while preparing the Federal Budget 2010-11 for the socio-economic prosperity of the country.
This was stated by the Advisor to Prime Minister on Finance and Revenues, Dr. Dr.Abdul Hafeez Shaikh while addressing the Pre-budget seminar 2010-11 organized by Islamabad Chamber of Commerce and Industry here on Monday.
Speaking to the business community, Dr.Shaikh said that to reduce the fiscal deficit, government would reduce the non-developmental expenditures of the government and reduce the inflation from double digit to single digit.
He added that the vulnerable segments of the society would be brought into economic mainstream by providing them the targeted subsidies in budget 2010-11 to poor segment of society and diverting the resources from privileged class to poor segment of the society.
Dr Hafeez said that to fulfill the financial requirements and to bridge the fiscal gape by own resources it was essential to increase the existing tax to GDP ratio which currently stood at only 9 percent.
Highlighting the importance of the Value Added Tax (VAT), he explained that VAT is not a new tax adding that it was only substitute of General Sales Tax which would help generate additional revenues of about Rs. 50-60 billion during the first year of its implementation adding that VAT would also help documentation of national economy.
He informed that education, health and food items would be exempted from VAT. The Advisor said that government would welcome the positive proposals and suggestions from the business community about the tax administration reforms and other reforms to enhance the tax revenues as well as to facilitate the tax payers.
He said that government would never over-burden the taxpayers who are already paying their taxes with full honesty adding that the people who are not paying the tax would be brought under the tax net.
He said that agriculture tax was the provincial subject and it would be decided by them when and what ratio of the tax to be imposed on the sector.
Hafeez Shaikh said that budget 2010-11 is being prepared with full consultations of the provinces keeping the transparency and honesty in consideration.
Addressing the seminar president ICCI, Zahid Maqbool urged the government to provide business conducive environment for the promotion of trade and business in the country.
Zahid Maqbool called for properly educating the business community before implementing the VAT.
Israr Rahoof, Member Direct Taxes FBR informed the seminar that FBR has organized seminars on VAT in all big cities where in collaboration with chambers of commerce to educating the business community.
Bears squeeze 195 points from KSE-100 Index
KARACHI: The Karachi Stock Exchange (KSE) began its fresh week downbeat as the benchmark KSE-100 Index plummeted by 195 points to close at 9,326 on Monday.
The Index opened 200 points down today and mostly remained in the negative zone throughout the session. The investors remained shaky amidst fear of imposition of Capital Gains Tax.
Trade volume was thin and stood at 65 million shares – lowest in the past month.
Gunmen storm Jinnah Hospital, 8 dead
LAHORE: At least eight people died when armed persons stormed the emergency ward of Jinnah Hospital here, Medical Superintendent said Monday.
According to Geo correspondent, two gunmen entered the emergency ward and opened fire at the injured of Model Town and Garhi Shahi attacks.
According to Geo, three to four guards and attendants are among the dead.
The firing is still underway while police have surrounded the hospital.
Gunmen kill five in Jinnah Hospital onslaught
LAHORE: Defying the early reports reached here regarding the death toll amounted at 12 persons when unidentified gunmen stormed Jinnah Hospital, the Inspector General Punjab police said a total of five persons lost their lives including a woman and three policemen while three other sustained injuries, Geo news reported.
Tariq Saleem Dogar said four terrorists were in guise of police officials wearing police uniform but they could not succeeded in either killing their associate or abducting the same in attack.
Talking to media, after the situation had been totally brought under control, IG Punjab Dogar said our homeland is currently in state of war against terrorism.
He regretted the escape of gunmen from hospital but lauded police efforts in confronting them and in making their attack futile.
As many as three police personnel martyred while another three sustained wounds during attack, he added.
Nawaz gloomy over Jinnah Hospital attack
LAHORE: Quaid Pakistan Muslim League-Nawaz (PML-N) Mian Mohammed Nawaz Sharif has expressed grief over deaths of innocent people in attack carried out by unidentified gunmen on Jinnah Hospital here late on Monday night, Geo news reported.
Also, Nawaz issued directives to Chief Minister Punjab Mian Mohammed Shahbaz Sharif to make sure the apprehension of terrorists involved in attack.
According to his statement issued through PML-N’s political Secretary Asif Karmani, he directed PML-N’s party workers to take active part in raising blood donations for those unlucky who were left injured amid tragic incident, sources said.
OGRA slashes POL prices by 2 to 8 percent
May 31, 2010 by Trend PK
Filed under Breaking News
ISLAMABAD (Faisal Hakeem): The government has reduced the petroleum prices by two to eight percent and the new rates would be effective from June 1, ARY NEWS reported.
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OGRA slashes POL prices by 2 to 8 percent
UNSC holds emergency talks on aid flotilla raid
May 31, 2010 by Trend PK
Filed under World News
NEW YORK: The United Nations Security Council has begun an emergency session to discuss an Israeli raid on a flotilla of ships seeking to take aid to the Gaza Strip.
The talks were requested by Lebanon, which holds the council”s rotating presidency until 0400 GMT on Tuesday.
The country”s President Saad Hariri “asked the Lebanese delegation at the UN to call for an emergency meeting over what happened today,” a Lebanese official told a foreign news agency earlier.
Israel faces a wave of condemnation over the raid, in which at least nine people were killed.
UN Secretary General Ban Ki-moon said Monday he was “shocked” by the deadly Israeli raid on a Gaza-bound aid flotilla and demanded a full investigation.
“I am shocked by reports of killings and injuries of people on boats carrying supplies for Gaza,” the UN chief said at a press conference in Uganda.
Israel”s closest ally Washington said it “deeply regrets the loss of life” and was “working to understand” what caused the “tragedy.”
The Jewish state”s chief regional partner Turkey responded with fury, scrapping plans for joint war games with Israel and recalling its ambassador, as it warned the “flagrant breach of international law” would have “irreparable consequences” for bilateral ties.
Tens of thousands of furious Turks poured into the streets with protestors in Istanbul burning Israeli flags, shouting “Damn Israel!” and demanding “A tooth for a tooth, an eye for an eye, revenge, revenge!”
The Vatican voiced “deep sadness and concern” and Middle East peace envoy Tony Blair expressed his “deep regret and shock,” as capitals across Europe summoned Israel”s ambassadors to explain the assault.
Greece, which had dozens of nationals in the convoy, also pulled out of joint military exercises with Israel as an aid group claimed that commandos in helicopters had fired on a Greek vessel.
Israel said its troops were attacked after they stormed six ships loaded with thousands of tonnes of aid and with hundreds of activists aboard, and that both sides used live fire.
Israel, which has blockaded Gaza since its bitter foe Hamas was elected to power three years ago, had called the expedition illegal and warned it would act to stop it.
Muslim leaders united in condemning what Palestinian president Mahmud Abbas called a “massacre” and Arab League chief Amr Mussa said was a “crime.”
Hamas, which rules Gaza urged world Muslims to “rise up” in protest, as Iran”s President Mahmoud Ahmadinejad denounced the raid as “inhuman Zionist regime action.”
Lebanon”s Prime Minister Saad Hariri described the raid as “dangerous and crazy” and called for an emergency meeting of the UN Security Council, chaired by Beirut until midnight in New York.
Across the country Palestinian refugees and activists demonstrated to denounce the raid, chanting slogans like “Give us weapons, give us weapons and send us on to Gaza.”
The UN Special Rapporteur for the Occupied Palestinian Territories, Richard Falk, called for a worldwide boycott and sanctions against Israel, saying “those Israelis responsible for this lawless and murderous behaviour” should be held criminally accountable.
Pakistan also “strongly condemned” the attack on a “peaceful flotilla,” as politicians, lawmakers and journalists protested in Islamabad against Israel.
Egypt condemned the “acts of killing” by Israel forces while Kuwait”s parliament speaker said the storming of the flotilla, which was carrying 16 Kuwaitis including an MP, was a “heinous Israeli crime.”
And Indonesia, the world”s most populous Muslim nation, said “there was no basis” for Israel”s assault.
In Europe, condemnation was equally swift, with the European Union foreign affairs chief Catherine Ashton demanding Israel mount a “full inquiry.”
Spain — the current European Union president — France, Sweden, Norway, Denmark, Austria, Greece and Cyprus summoned Israel”s respective ambassadors, with Madrid slamming the operation as “unacceptable”.
France”s President Nicolas Sarkozy accused Israel of a “disproportionate use of force.”
Germany”s Foreign Minister Guido Westerwelle said he was “deeply concerned” about the deaths, while Italy”s Foreign Minister Franco Frattini “deplored” the loss of civilian life.
Russia also condemned a “crude violation” of international law.
British Foreign Secretary William Hague deplored the loss of life, saying Israel must “act with restraint” — but also said London had warned of the risks of defying the Gaza blockade.
A Cyprus MEP, Kyriacos Triantafyllides, who was involved with the mission, said activists had “expected a strong reaction from Israel.”
“But nobody believed it would come to this point, where they would face something akin to an invading army,” he said.
UN Security Council slams Israeli raid on flotilla
May 31, 2010 by Trend PK
Filed under World News
UNITED NATIONS: UN Security Council members on Monday condemned Israel”s attack on a humanitarian flotilla for the Palestinians and urged Israel to end its blockade on the Gaza Strip.
In individual statements ahead of a possible official UN Security Council reaction, the 15 council members issued remarks, almost all condemning the Israeli assault in which at least nine people were killed.
“It is clearer than ever that Israel”s restrictions on access to Gaza must be lifted in line with Security Council Resolution 1860. The current closure is unacceptable and counterproductive,” British Ambassasdor Mark Lyall Grant said ahead of the emergency session called after the deadly attack.
France, Russia and China — also veto-wielding permanent council members — also called for the blockade to be lifted and for an independent inquiry.
The United States, Israel”s traditional ally which often uses its veto power to aid the Jewish state — did not request specifically that Israel end its blockade on the Gaza Strip. But it hinted that the measure at least should be eased.
US deputy permanent representative Alejandro Wolff said Washington was “deeply disturbed by recent violence and regrets tragic loss of life and injuries. We are working to ascertain the facts.
“We expect a credible and transparent investigation and strongly urge the Israeli government to investigate the incident fully,” Wolff said.
“Direct (aid) delivery by sea is neither appropriate nor responsible under the circumstances,” Wolf added noting that the “situation (was) unsustainable and is not in the interest of any of those concerned.
john cazale
May 31, 2010 by Trend PK
Filed under World News
Richard Shepard’s touching documentary short, “I Knew It Was You,” celebrates the impact of the too brief life of a most brilliant actor, John Cazale, on American film and some of the best thespians alive today.
Cazale was a fellow native of Revere, Massachusetts, where I lived in my first home on Alice Street until age four. Cazale was a townie born the same year as my dad (1935) and he knew the joy of standing in line for a Kelly’s Roast Beef and the beauty of the Revere Beach sweep, especially on those cold, grey days where the outline of Nahant bore left off in the distance, and Winthrop on the right.
In this moving film, interviews and film clips are entwined as we hear from Meryl Streep, Al Pacino, Robert De Niro, Olympia Dukakis, Francis Ford Coppola, Gene Hackman, Sidney Lumet, Israel Horovitz, Carol Kane, Richard Dreyfuss as well as fans Philip Seymour Hoffman, Steve Buscemi and Sam Rockwell.
This film is an intimate recollection by the actors, playwrights and filmmakers who knew him best and loved him very much. The only five films he was ever cast in, “The Godfather,” “The Conversation,” “The Godfather,” “Part Two,” “Dog Day Afternoon” and “The Deer Hunter” – were nominated for Best Picture by the Academy; all of them are considered classics. In total, those five films netted 40 nominations (14 were for acting awards), and Cazale received none.Stage: Appeared as Angelo in William Shakespeare’s “Measure for Measure” for Joseph Papp Public Theater/New York Shakespeare Festival. The play opened at the Delacorte Theatre in Central Park on July 29, 1976 and closed on August 29, 1976 after 27 performances.
Stage: Appeared in Israel Horovitz’s play “Acrobats & Line” at the Lucille Lortel Theatre, opening February 15, 1971 and closing Date March 14, 1971 after 31 performances.
Stage: Appeared in his first Broadway play, Joseph Papp’s production of Aeschylus’ “Agamemnon,” which began previews at the Vivian Beaumont Theatre on April 29, 1977. Cazale was replaced during the previews before the show opened on May 18, 1977.
jinnah
May 31, 2010 by Trend PK
Filed under World News
At least 12 people have been killed, and up to 40 wounded, in an attack on a hospital in the eastern Pakistani city of Lahore, local officials and media say.
At least three armed men
attacked the hospital on Monday, taking several patients hostage, a senior doctor told the Reuters news agency.
“They barged into the hospital building and opened indiscriminate fire,” Javed Ikram, chief executive of Jinnah hospital, said.
“As a result, 12 people were killed. Most of them were police officials. Some hospital guards and attendants were also killed,” he said.
Police are still battling the attackers.
At least 30 victims and one of the alleged perpetrators of an attack on two mosques of a minority religious community in Lahore were being treated in the hospital when it was attacked.
Eighty-two people were killed in those attacks on Friday, which targeted Ahmadiyya mosques.
