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Sindh cuts nearly half of Rs50 billion allocation for new ADP schemes


September 18, 2018

KARACHI: Chief Minister Syed Murad Ali Shah informed the Sindh Assembly on Monday that the provincial government had axed allocation for new schemes in the annual development programme (ADP) by Rs24 billion due to an ‘unprecedented’ shortfall in federal transfers to the province. The CM gave this information at the floor of the house while delivering his speech seeking authorisation …

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Taliban attacks kill 27 members of Afghan security forces


September 18, 2018

KABUL: The Taliban launched multiple attacks on Afghan checkpoints as well as police and military bases in different parts of the country, killing at least 27 members of the security forces, Afghan officials said on Monday. The attacks and the high casualty toll underscore the difficulties Afghan forces face in trying to secure the country on their own. The Afghan …

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Danger lurks for Trump court pick as assault accuser vows to testify


September 18, 2018

WASHINGTON: US President Donald Trump’s Supreme Court nominee Brett Kavanaugh ran into serious trouble on Monday after a woman who accuses the conservative judge of sexually assaulting her 36 years ago said she is willing to testify before Congress. Christine Blasey Ford said via a lawyer she is ready to answer questions before the Senate Judiciary Committee on her allegation …

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Exporters cheer unified gas slab


September 18, 2018

KARACHI: A near collective cheer went up from the exporter community as the details of the gas price adjustment rippled through their ranks. For years, there had been demands coming from this community for equalising the regional price of gas as well as bringing down the tariff to make them competitive. Both those demands have been met, and all members …

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Murad to present nine months budget in Sindh Assembly today


September 17, 2018

KARACHI: Chief Minister Syed Murad Ali Shah will set a rare example on Monday (today) when he will be delivering a second speech of a single fiscal year’s budget to seek approval from the newly elected assembly for the remaining nine months of 2018-19. Mr Shah’s previous government that ended on May 31 had presented a full year’s budget before …

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Zero conviction rate at lone functional anti-encroachment court


September 17, 2018

KARACHI: The conviction rate remained zero per cent in the special anti-encroachment court (AEC) in Karachi — the lone special court functioning in the province — that acquitted all the nominated suspects in the last eight months, it emerged on Sunday. Three special anti-encroachment courts were set up in the province: one each at Karachi, Hyderabad and Sukkur. However, judicial …

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Two workers killed in coal mine blast


September 16, 2018

QUETTA: Two miners lost their lives and two others were wounded inside the Duki coal mine on Saturday. The labourers faced the catastrophe after they went deep inside the mine and it caved in because of a methane gas explosion. Levies force said that two miners died and two others were rescued by their colleagues. The dead and the injured …

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UK will extend GSP+ incentives to Pakistan post Brexit: envoy


September 16, 2018

KARACHI: Pakistan needs to foster an enabling environment for business and trade and must explore sectors including financial services and agriculture to boost its exports to the United Kingdom, said UK’s trade envoy to Pakistan Atta-ur-Rehman Chishti on Saturday during an interaction with journalists. Currently on his third visit since becoming Prime Ministerial Trade Envoy to Pakistan in November, Mr …

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Stocks stay flat on lack of economic clarity


September 16, 2018

KARACHI: An attempt by the bulls to dislodge the bears after two weeks was frustrated by the lack of clarity on the economic front. Therefore, the bourse remained choppy in the outgoing week with the KSE-100 index closing about flat, up by a mere 65 points (0.15 per cent) to settle at 40,920. On the economic front, contradictory reports on …

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PTBA demands uniform tax regime


September 16, 2018

KARACHI: The Pakistan Tax Bar Association (PTBA) has asked the PTI government to rationalise tax rates and also harmonise federal and provincial taxes. In a letter to Finance Minister Asad Umar, PTBA President Abdul Qadir Memon stressed the need for reducing cost of doing business as it will speed up industrialisation and broaden tax base. The association also recommended abolition …

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