Int'l conference on LPG to be held on 17th

ISLAMABAD (APP): First one-day International Conference on LPG would be held on March 17 in Lahore. The conference would be organized by South Asian Media Management (SAMM) company in collaboration with all the stakeholder of LPG. An official of SAMM said the conference would be attended by all the national and international gas companies and stakeholder. He said that this will be first mega event on LPG in the country. He said that the conference would discuss various issues including energy and resources, cylinder blasting, safety and standards, LPG local & Import, LPG Bowzer & Cylinder manufacturing, LPG stake holders, distribution network, LPG Auto Stations, development of LPG Industry and LPG equipments and acessessories.

He said representatives of various companies including senior

officials of Ministry of Petroleum and Natural Resources, Oil and Gas Regulatory Authority (OGRA) and LPG Distributors Association would also attend the conference.

He said that a resolution would also be passed in the conference

regarding sub standard LPG cylinders and Bowzer.

He said that the participants would also pass a resolution about LPG

prices in the conference.

LCCI for early payment of

refund claims

LAHORE: (NNI): The LCCI has urged the Federal Board of Revenue (FBR) chairman to ensure early payment of stuck-up refunds of the export-oriented sectors, which are facing severe hardships. In a statement issued here on Monday, LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that at present when exports were stagnant and the export-oriented industry in a dire need of resources, delay in refunding the amounts to the exporters was adding to their miseries. They said the FBR should not hamper the growth of the most productive sectors by denying the exporters and manufacturers their right of refund of the Sales Tax and Income Tax.

Failure of tax amnesty scheme disappointing: PBIF

ISLAMABAD (NNI): Pakistan Businessmen and Intellectuals Forum (PBIF) President and former provincial minister Mian Zahid Hussain said on Monday the tax system was not compatible with ground realities; therefore it was not being accepted by the small traders. “A new tax revenue authority should be established, keeping in view the aspirations and issues of small traders in order to broaden the tax base and bring this segment into the mainstream,” he added. Zahid said that the current tax amnesty scheme could not attract the traders, as less than 3, 000 people filed returns despite six extensions in the deadline. He said there was a trust deficit between the tax authorities and traders.

40pc of total required certified cotton seeds available for Kharif

ISLAMABAD (APP): For the upcoming sowing season of cotton crop in the country, 40 percent of total required certified BT cotton seeds are available with the government and the private sector, an official of Ministry of National Food Security and Research said. According to the official, out of total requirement of 40,000 Metric Ton cotton seeds, about 15,864 MT certified and approved seeds were currently available. He said in order to overcome the deficiency, the government had engaged the private sector to procure maximum certified cotton seeds so that maximum cotton production could be ensured. Out of those available certified seeds, the public sector possessed 672 MT while the private sector had 15,192 MT seeds.

The official said that in Punjab, 42.52 percent certified

seeds were available with the public and private sector.

Out of total available 13,183 MT seeds, the public sector had

669 MT while the private sector had 12,514 certified seeds.

Similarly in Sindh province, 32.48 percent certified seeds

were available with the public and private sector.

Out of total required seeds of 8,300 seeds, 2,996 certified

seeds were available with both private and public sector.

The official further informed that for Khyber Pakhtunkhwa and

Balochistan, the total required cotton seeds were 50 MT and 620 MT

respectively while no certified seeds for the both provinces were

available.

Auto sector has brightened up Pak industrial scene

ISLAMABAD (APP): Pakistan's auto sector has brightened up the nation's industrial scene this week with rising vehicle production, a huge quantity of state-of-the technology spares and components and a growing number of customers and easy bank financing. According to Khaleej Times, car sales in eight months (July-Feb) of fiscal year 2016 rose 37.7pc compared to the like period of fiscal year 2015, the Pakistan Automotive Manufacturers Association said. It said during this period, 121,934 cars were sold from 88,538 units in the like period of fiscal year 2015. In this connection The Pakistan Auto Show-2016, the 12th in its series, was staged at Lahore where with increased production capacity and easy prices, demand was rising fast.

A large number of customers are facing three to four months' waiting

period to get delivery of cars, including Toyota and Honda.

Mumshad Ali, chairman, Pakistan Association of Automotive Parts and

Accessories Manufacturers told Khaleej Times, "As a result of our high-tech

and pro-consumer products, the demand for automobiles, components and spare

parts is expected to rise over the next three to five years. We are committed to all aspects, including pricing, styling, designing, technology, spacing, user ease and comfort."

Ali said that the annual revenue of local parts turnover is estimated at $4 billion. The current export turnover is $1 billion. The major buyers for the Pakistani auto parts industry are from the US, Europe, Turkey, Sri Lanka and Africa.

"China, Thailand and Malaysia are the key countries from which the auto

parts industry imports its requirements", he added.

Syed Nabeel Hashmi, chief organiser, Pakistan Auto Show, said over the

years, the event has brought a paradigm shift to the sector. "Good response to the show indicates the shift of preferences of producers and consumers to

Pakistan because of its high-tech production and high caliber workers and

engineers", he explained.

"The government is clearing ways for new automotive assemblers in

Pakistan. It means increasing competition in the industry," said Hashmi.

He said government of Pakistan is committed to take all possible

measures to encourage large-scale investments and enhance the business-

friendly environment for the automotive and engineering sectors.