Nepra Saves Choice On Tax Climb

on 07/09/2020

After questioning the justification for furnace oil-based expensive power generationNational Electric Power Regulatory Authority (Nepra) on Tuesday, reserved judgment on 86 paisa per unit increase in electricity rates demanded by ex-wapda distribution companies (Discos).

“This step was taken after having analysis regard to the statement made by National Power Control Center (NPCC) during the course of hearing”, said by the regulator after a public hearing presided over by Vice Chairman Saifullah Chatta and attended by three other members.

The case officials before finish of the conference said they proposed around 84 paisa for each unit increment in levy with an income effect of Rs12 billion. Notwithstanding, as the TV channels run tickers around 84 paisa rise, Nepra gave an announcement saying “as on today, no decision of the authority on the subject matter has been made”.

Yet, this had just made waves in the political circles. PML-N President Shahbaz Sharif emphatically responded to the implied tax increment and named it an extraordinary mercilessness.

FCCPI Blames BOI For Being Unjust with The Business Community

on 02/09/2020

The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) capital office has criticized the Board of Investment (BOI) for restraining the business community and not giving importance to issues faced by investors.

FPCCI Coordinator Mirza Abdul Rehman said on Friday in a meeting headed by the secretary that it is board’s responsibility to facilitate the business community. He said that out of 10 speakers, eight were officials of the board though just two speakers were available from the business community.

He said that BOI is discouraging the business community as they were not giving importance to their point of view.

He said there was an overall absence of trust among investors and the relevant authorities, and it has reached on its peak after the Covid-19 lockdown.

“The specific reason of the absence of trust is that we don’t see a lot of interests in the industry or any business aside from the real-estate,” he stated, added that the present situation of the economy gives the clear the indication that the government has to correct their position in this regard and facilitate the business community and improve the climate of investments in the country on a long term basis.

He said that any of chamber or association of the region were not permitted to give a presentation. They were explicitly ignored even during the current critical situation of the economy.

NESPAK to develop Rs100 bn housing br scheme in Peshawar

on 23/08/2020

As per Prime Minister of Pakistan Imran Khan’s vision, NESPAK is playing an active role in the housing sector and has always been ready to serve in fulfilling the Prime Minister’s dream of eliminating housing shortage in the country.
In line with the government’s policy, Pakistan Housing Authority Foundation (PHAF) has engaged NESPAK for providing engineering consultancy services for the development of a Housing Scheme at Surizai Peshawar through competitive bidding, it was told by Dr. Tahir Masood, Managing Director NESPAK here on Tuesday in a press release.
The estimated cost of the project is Rs.100 billion and it spreads over an area of 8500 Kanals. NESPAK’s scope of consultancy work includes detailed surveys and investigations, feasibility study along with the preparation of PC-I and PC-II, master planning, infrastructure design, detailed designing of houses, apartments, commercial and public amenities, preparation of detailed tender documents including cost estimates, BOQs and technical specifications, prequalification of constructors, preparation of construction drawings, assistance to Client in bid evaluation and top construction supervision. Mr. Salman Shahid, Chief Engineer, NESPAK Islamabad office is designated as the Project Manager.
Meanwhile, the NESPAK Islamabad office has been selected by Khyber Pakhtunkhwa Information Technology Board to provide consultancy services for Pakistan Digital City Haripur, Khyber Pakhtunkhwa. NESPAK’s scope of work comprises master planning, infrastructure design development, and design of a building having the covered area around 50,000 sqft. in Haripur having an area of around 86 Kanals. Tentative Project cost is around Rs. 406 million.

Construction projects to go under strict scrutiny in Balochistan

on 23/08/2020

Major construction projects, be they in the private sector or public ones are to come under strict scrutiny in Balochistan.
This measure is caused by climate change that has forced the provincial government to move ahead for legislation as regards the construction projects.
In this backdrop, Balochistan Chief Minister Jam Kamal has reportedly directed Balochhhistan’s Environment Department for suggesting legislation so that no project is initiated before obtaining a NOC (no objection certificate). It will be mandatory for all major construction projects in the private and public sectors.
A report from Quetta said the chief minister, in a meeting held recently, also approved the appointment of a technical representative of the Environment Department.
Environmental Protection Agency in Balochistan has also briefed the government that climate change poses a serious threat to the environment thus the use of modern technology and reforms in the field of environment is needed to deal effectively with the environmental challenges.
The chief minister is also of the view that improvement in the environment department should be brought about in order to create ample scope for skilled posts in the department.
He said that revolutionary progress in the construction sector was expected under the incentives given by the federal government while the government of Balochistan was also pursuing development plans for coastal and other areas.
The chief minister said a comprehensive policy needed to be formulated to regulate this development process and make it environmentally friendly.
The meeting reviewed the formation of the Sustainable Development Fund. The role of the Balochistan Environmental Protection Agency and the service rules of the department were also reviewed and
important steps in this regard were approved

Pakistani firms set to br participate in 2020 CIFTIS

on 23/08/2020

Pakistani firms are all set to participate in the 2020 China International Fair for Trade in Services (CIFTIS) scheduled to kick off in September at the China National Convention Center in Beijing.
“Pakistani companies are very keen to take part in the forthcoming fair which is one of major trade and business events in China before China International Import Expo (CIIE) to be held in Shanghai,” officials said.
At present, posters and banners have been set up at the China National Convention Center in Beijing to welcome guests from home and abroad.
So far, 141 international organizations, embassies in China, chambers of commerce, business associations, and institutions have confirmed their participation in this year’s CIFTIS.
More than 2,000 domestic and foreign companies will also attend the event, during which more than 100 forums and discussions will be held. Pavilion construction, guest reception, epidemic prevention and control are currently being advanced under high standard.
Formerly known as China (Beijing) International Fair for Trade in Services, the China International Fair for Trade in Services took its new name in 2019.
One year later, the shortened name for the event was changed from “Beijing Fair” to “CIFTIS”.
The CIFTIS (including the former Beijing Fair) has successfully held six sessions, attracting 184 countries and regions, nearly 300 international organizations and overseas business associations and more than 10,000 companies, and achieving an accumulated intended transaction amount of US $ 529.33 billion