Textile machinery exhibition to attract more than 50,000
More than 400 companies from 25 countries are participating from different regions of the world. Over 50,000 visitors are expected to visit the exhibition. Manufacturers of textile and garment machineries meet a large number of buyers under one roof and bridge international and local enterprises in a competitive business environment.
Published in The Express Tribune, October 15th, 2010.
2pt'R� ei@y�pH�ial at the FBR said that on the second day on Friday, which is the last day for the finalisation of recommendations by the committee, Sindh might agree to the proposal so that a framework on imposing RGST on services may be finalised before the due date of October 15.
Sources informed that at present, around 100 services are under consideration before the authorities and all these services which are not handed over to Islamabad, will be handed over to the provinces for the imposition and collection of RGST from the date of its enforcement.
The draft of RGST legislation will be finalised after receipt of the committee’s report by October 15, and presented in the National Assembly and the four provincial assemblies for approval.
Published in The Express Tribune, October 15th, 2010.
fer of�O ,0@����he provinces could only lift 55 per cent of the quantity, proving there was no shortage in the market, he said. “Had the provinces lifted their due share, sugar prices would have come down.”
At the end of July, Pakistan Sugar Mills Association President Iskandar Khan started talking about sugar shortage and that prices would go beyond Rs100 per kg during Ramazan.
Bashir said Pakistan was out of the woods as the country had sufficient sugar stocks and prices also dropped by Rs3 per kg after the TCP decided to sell 50,000 tons in the market.
He said out of import tenders of 1.2 million tons, 585,954 tons of sugar has arrived so far and TCP stocks stand at 268,459 tons. “Hoarders are trying to keep prices at the existing level before the start of crushing season on November 15, but they are threatened by the TCP’s move to release the commodity in open market.”
Bashir said contracts of three suppliers, who had failed to supply a total of 200,000 tons within schedule, have been cancelled and performance guarantees of over $2 million have been fortified.
He said former TCP chairman Saeed Ahmad Khan allowed non-qualified bidders to participate in tenders leading to cancellation of two tenders.
In the international market, sugar prices are going up on the assumption that next year Pakistan would be having enormous shortage.
Published in The Express Tribune, October 15th, 2010.
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