The Financial Daily : 2020-08-22

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NATIONAL Saturday- Sunday, August 22- 23, 2020 AOB deregister­s audit firm of chartered A/ cs Monsoon planation drive begins at QAU Punjab decides to start constructi­on of houses in 10 cities: Mahmood The Audit Oversight Board ( AOB) has removed Qadeer & Company Chartered Accountant­s from its register of auditors of public interest companies. According to a press statement issued here on Friday, the firm had committed multiple violations of the law including failure to rotate audit partners as required by the code of ethics, failure to disclose an audit partner to AOB as well as concealmen­t of some audit engagement­s in the audit quality control review. The action was taken by AOB after providing an opportunit­y of being heard to the firm. Earlier, the AOB issued a warning to two firms of chartered accountant­s and cautioned four others. These six firms had ISLAMABAD: Monsoon Plantation drive 2020 has commenced on Friday at Quaid- i- Azam University ( QAU) Islamabad. Like previous years, Quaid- iAzam University Alumni Associatio­n, in collaborat­ion with Environmen­tal Protection Agency, Government of Pakistan, Directorat­es of Estate Management and Student Affairs QAU Islamabad, under Green and Clean Pakistan campaign, would plant three thousand plants at QAU campus at its affiliated Colleges across federal capital, says a Press release. The plantation drive was inaugurate­d by ViceChance­llor Quaid- i- Azam University Islamabad, Prof. Dr. Muhammad Ali Shah along with Farzana Altaf Shah, Director General Environmen­tal Protection Agency, members of QAU Syndicate, faculty, employees and senior members of QAU Alumni Associatio­n. Speaking on the occasion, Vice- Chancellor appreciate­d two decades the long contributi­on of Quaid- I- Azam University Alumni Associatio­n for its alma mater. He emphasised over active participat­ion in making Pakistan green and clean individual­ly and collective­ly. He said that the massive tree plantation would further add to the natural scenic beauty of Quaid- iAzam University Islamabad. ISLAMABAD: See# 12 Page7 The government of Punjab has decided to start constructi­on of houses in 10 cities of Punjab under the Naya Pakistan Housing Project. Punjab Minister for Housing and Urban Developmen­t Mian Mahmood Rashid said this on Friday. He said that various investors, developers and builders have approached the Punjab Housing and Town Planning Agency ( PHATA) to join the Naya Pakistan Housing Project and the process of regulation on these applica- tions is underway. He said it has been decided to start constructi­on of houses in 10 cities of the province including Lahore, Rawalpindi, Faisalabad, Sialkot, Chiniot, Chishtian, Kharian, Pattoki, Hazro and Lodhran in collaborat­ion with developers, builders and investors. The housing schemes of these builders will be approved and the constructi­on of low- cost houses will be started in these cities as soon as possi- ble. He said that as per policy, the provision of subsidy of Rs300,000 to the lowincome segment of the society will provide relief in constructi­ng their houses. He further stated that according to the vision of Prime Minister Imran Khan, the government under the Naya Pakistan Housing Project has extended full cooperatio­n with private builders and developers and housing related policies have been formulated in consultati­on with all the stakeholde­rs. - TLTP LAHORE: Pakistan's image in global business is improving: Aleem Cut in property tax to provide Rs4bn relief to constructi­on in KP Senior Punjab Minister Abdul Aleem Khan has claimed that Pakistan's image in the global business community is improving day by day. Aleem Khan, in a statement on Friday, said that significan­t increase in foreign direct investment ( FDI) last month is a very welcome developmen­t, and reaching 114 million dollars in foreign investment is a great achievemen­t of the government. He added that the data showed that investment had increased by 60 percent in July this year as compared to last year, which is a sign of confidence in Prime Minister Imran Khan's economic policies from around the world. He said that the bankrupt economy has been stabilized through best policies and in the current situation, the Prime Minister and his teams are giving excellent results. LAHORE: See# 13 Page7 FBR chief holds e- Kutchery Special Assistant to the Chief Minister Khyber Pakhtunkhw­a for Informatio­n and Local Government, Kamran Bangash has said that the provincial government has taken important steps to reduce the property tax while the first installmen­t of Rs500 million has been released to tehsil municipal administra­tions in lieu of 2 percent property tax. Bangash said that the provincial government has given more than Rs4 billion relief to the constructi­on sector in terms of property tax. He said that Chief Minister Mehmood Khan fulfilled his promise regarding the salaries of the employees of the Local Government Department. Now, in terms of salaries and expenses, the local government department will get Rs4 billion from the exchequer in the financial year. Talking about the salaries of some tehsil municipal administra­tion employees, Bangash said that the employees breathed a sigh of relief with the release of the first install- ment. The government realizes that employees should receive their wages and salaries on time. "The welfare of both the people and the employees is one of our priorities," he said. Referring to the ongoing reforms in the Local Government Department, Bangash said that developmen­t and reforms are underway in every sector including local government so that Pakistan could be made an Islamic welfare state on the pattern of Medina as per the vision of Prime Minister Imran Khan. - TLTP PESHAWAR: Constructi­on work begins on Ace Mall in Islamabad Punjab govt to develop new tourist destinatio­ns Raza Kazmi Chairman Federal Board of Revenue ( FBR) Muhammad Javed Ghani held an e- Kutchery at FBR headquarte­rs Friday to listen to the complaints and issues of taxpayers so as to comply with the directions of the Prime Minister of Pakistan. The complainan­ts called at 111772772 and interacted directly with the Chairman FBR. The Chairman FBR issued on spot orders to the concerned members of different wings for the resolution of complaints. Chairman assured the taxpayers that all the Field Formations of FBR have been directed to provide maximum facilitati­on to the taxpayers to resolve their grievances. FBR will ensure complete assistance to the taxpayers to narrow the trust deficit between the organizati­on and the people. ISLAMABAD: Zameen Developmen­ts, a sister company of Pakistan's largest real estate portal, Zameen. com, has commenced with the constructi­on work on its first multipurpo­se project, titled Zameen Ace Mall, in Islamabad. The mixed- use developmen­t initiative is a joint venture between Zameen Developmen­ts, ACE Group and MIH Group. Located in DHA Islamabad, Zameen Ace Mall will feature shops and apartments, says a Press release. According to Project Director Fahad Arif Khwaja, the developers began the constructi­on work on the project following the government's permission with regard to the resumption of con- struction activity in the country. "We have designed Zameen Ace Mall as a modern apartment complex t hat stands out within i t s distinguis­hed neighbourh­ood. The project is being executed with meticulous attention to detail and all measures are being taken to ensure its complet i on within t he set t i meframe. Moreover, we are committed to foll owing i nternation­al developmen­t standards and won't compromise on constructi­on quality," he said. He further stated that this project will prove to be an excellent avenue for investment, given its location in DHA Islamabad; adding t hat t he developmen­t in the surroundin­g areas also adds to the project's investment appeal. He also revealed that the CDA has provided its approval to the Islamabad Expressway signal- free corridor project, which, following its completion would provide convenient access to Zameen Ace Mall. Ace Group CEO Usman Zafar Cheema said that the developmen­t of Zameen Ace Mall in Islamabad presents a refined approach towards contempora­ry constructi­on pursuits in the country's real estate sector; adding that this well- planned project will present lucrative purchase opportunit i es for both t he residents of Islamabad and investors from other cities across the country. ISLAMABAD: The government of Punjab has decided to develop new tourist destinatio­ns under public- private partnershi­p to promote tourism and provide more recreation­al facilities to the people across the province. The decision was taken during a meeting chaired by Chief Minister's Advisor on Tourism Asif Mehmood and Chief Secretary Punjab Jawwad Rafique Malik here on Friday. The meeting reviewed the implementa­tion of decisions regarding the promotion of tourism in the province and the adaptive reuse of government rest houses. Addressing the meeting, Asif Mehmood said that promotion of tourism and developmen­t of tourist sites are among the priorities of the government. He said that in line with the vision of the Prime Minister of Pakistan, the Punjab government is taking practical steps for the progress of the tourism sector. The chief secretary said that the promotion of tourism would not only boost economic activities but also provide employment opportunit­ies to the locals. He directed the secretary of tourism to complete the work of LAHORE: KP set to turn 5 small dams into picnic spots In an effort to promote tourism in the province, the Khyber Pakhtunkhw­a ( KP) government has decided to transform five small dams into picnic points. According to details, Kundar Dam in Swabi, Jalozai Dam in Nowshera, Thand Dam in Kohat, Chattri Dam in Haripur and Jhangra Dam in Abbottabad are being made as picnic points. The government has begun to transform five dams into picnic points to boost the tourism industry in the country. Facilities of parking, restaurant­s, open cooking, solar system, spot fishing and others will be provided to the visitors at the aforementi­oned sites. Earlier this week, Prime Minister PESHAWAR: CDA halves addl storey charges in markets See# 14 Page7 ISLAMABAD: Chairman Capital Developmen­t Authority Aamir Ali Ahmed has said that CDA is reducing the charges of additional storey in markets by 50 percent to give a boost to business and constructi­on activities. The CDA chairman said this while addressing a delegation of Islamabad Chamber of Commerce and Industry ( ICCI) that met him led by President ICCI Muhammad Ahmed Waheed. Amir said that developmen­t works would be carried out in various markets at a cost of Rs. 250 million and this process would start within a month including carpeting of roads and repair of footpaths. Muhammad Ahmed Waheed speaking on the occasion said that ICCI for the last many years has been discussing with CDA the same agenda of developmen­t of markets and industrial and hoped that the current chairman CDA would address these problems. He said that lease renewal is a major issue that needs to be addressed urgently. He said that in 2000, the CDA Board had extended the lease period of all industrial plots from 33 years to 99 years, but now this process has been stopped and tax @ of one percent of the value is being demanded. He urged the chairman CDA to present the issue of lease renewal before the CDA Board as early as possible for extension of lease period up to 99 years and for abolition of one percent tax of the value. Mohammad Ijaz Abbasi, Convener ICCI CDA Committee, said that four years ago, the CDA Board had approved new industrial building bylaws that covered the height of industrial buildings, permission for multiple businesses and expansion of constructi­on area, but their notificati­on is still pending and urged for immediate issuance of notificati­on for implementa­tion of new bylaws. Sheikh Tariq Sadiq highlighte­d ISLAMABAD: Federal Minister for Informatio­n & Broadcasti­ng Senator Shibli Faraz in a meeting with Saudi Ambassador in Pakistan Nawaf bin Saeed Al Maliki, here Friday. - PID photo See# 15 Page7 See# 16 Page7 If new cities, Madaris, Masajid can be built then why the new programmes of Azadari and Milad- ul- Nabi cannot be held; Announces 19- point Code of Azadari to be followed in Muharram and thereafter till Ayyam- e- Aza end on Rabiul Awwal 8 Moosavi rejects restrictio­ns on new Azadari programmes Awwal 8. Agha Moosavi said Azadari is our jugular vein and will never be compromise­d. We are the followers of Ali ( A. S.), we can die but will never let Milad- un- Nabi or Azadari die down. We will not allow anyone to control Pakistan. Register as many FIRs as you want, or even hang us to death, we will never refrain from bringing out procession­s of Milad and Azadari. Tahaffuz Bunyad- e- Islam bill has reached where from it came. He said in the presence of 1973 Constituti­on, there is no need for any bill. We don't accept any unconstitu­tional institutio­n including Muttehida Ulema Board. Constituti­on must be followed rather than making it a follower. He said none of the rulers and politician­s will be able to retain their positions if he/ she accepts Israel. We are not the stooges of Iran or Arabs and only follow the ideology given by Quaid- iAzam Muhammad Ali Jinnah for Palestine and Israel. How can Muslim rulers who do not even take a bite without seeking permission from the colonial powers, disobey them? The TNFJ chief said that the way we respect Sahaba ( R. A) is unmatchabl­e. Lobbies are working to misguide people. Mosad's agent using the name Ayesha is working to create biases on Social media. Zionists are trying to make Muslims fight against each other. Muslims must stay cautious. Why exactly the bills of different kinds are being introduced in Punjab only? The remnants of the dictator are trying to create sectariani­sm. The second Caliph Hazrat Umar ibn Khatab was buried before Muharram but the day of his martyrdom was included in Muharram deliberate­ly to create sectarian rift. Answering different questions, he said that whoever will follow the footsteps of the holy Prophet ( SAAW), Ahl- e- Bait ( A. S), pious Sahaba- e- Kubaar ( R. A), he will be saved from diseases like corona. Closure of Khana Kaaba and other sacred places is a test as well as the ultimate result of bad deeds of Muslims. We are associated with the holy Quran and Ahl- e- Bait ( A. S) in accordance with the will of the Holy Prophet ( SAAW). Everyone must be allowed to state his ideology, however, it must not be imposed on others. He lamented that all terrorist groups are operating using new names. Proscribed groups sit with the Minister of Religious Affairs which is like wasting the blood of martyrs. Those who sacrificed their lives and honor for Pakistan cannot see Pakistan being looted. We do not fear death. We will neither compromise on religion nor shall we accept any interventi­on in Azadari even if our tongues or limbs are chopped off like Meesam- e- Tammar. Answering a question, Agha Syed Hamid Ali Shah Moosavi said that only the economical­ly strong countries can have a successful foreign policy. Munawar Naqvi RAWALPINDI: The Patron- inChief of Shia Ulema Board and chief of the Tehreek Nafaz Fiqhe- Jafariya Agha Syed Hamid Ali Shah Moosavi has said that restrictio­ns on new programmes of Majalis and Azadari procession­s are unacceptab­le. If new cities, Madaris and Masajid can be built then why the new programs of Azadari and Meeladun- Nabi cannot be held? Why is there are restrictio­ns on in- house Majalis? Immoral and unethical programmes are allowed, nonMuslims can also worship then why are the Shias not allowed to hold their worship programmes? He was addressing a crowded Press conference, here at the Headquarte­rs of the Maktab- eTashayyo in which he also announced a 19- point Code of Azadari to be followed in Muharram and thereafter till Ayyam- e- Aza end on Rabiul RAWALPINDI: The Quaid- i- Millat Jafariya Agha Syed Hamid Ali Shah Moosavi, flanked by other TNFJ leaders, addressing a Press conference at the TNFJ headquarte­rs in which he announced a 19- point Code of Azadari, here Friday. - Staff Photo See# 17 Page7 PRINTED AND DISTRIBUTE­D BY PRESSREADE­R PressReade­r. com + 1 604 278 4604 O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y COPYRIGHT AND PROTECTED BY APPLICABLE LAW

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