No new tax in Punjab budget

According to sources, no new tax will be introduced in the coming budget, however, steps will be taken to enhance tax net.

Lahore will be divided into various categories for enforcement of property tax.

Tax exemption on five-marla houses in posh localities will be withdrawn while property tax on large houses is likely to increase up to 50 percent.

A proposal is also under consideration to increase token tax on vehicles over 1000cc.

Israel PM urges talks beyond settlement freeze

JERUSELUM: Israeli Prime Minister Benjamin Netanyahu urged Palestinian President Mahmoud Abbas to pursue “expedited, honest talks” to achieve a peace deal within a year, in a statement issued on Monday minutes after the formal expiration of a settlement freeze.

“Israel is ready to pursue continuous contacts in the coming days to find a way to continue peace talks between Israel and the Palestinian Authority,” the statement said.

It added that Netanyahu had been in touch with U.S., Egyptian and Jordanian leaders in search of a way to avoid a Palestinian walkout from nascent talks over the settlements issue. AGENCIES

China says euro zone woes will hit export growth

BEIJING: Debt strains in the euro zone will take a toll on Chinese exports in the coming months, the Ministry of Commerce said on Saturday.

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China says euro zone woes will hit export growth

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