The government plans to begin work on a project of 2 billion rupees (Rs) this month for the development of a power infrastructure in a tribal region merged under the 10-year and annual development plans this month. The project included 76 new 11kv feeder construction, 59 11kv feeder rehabilitation and village electrographers in all merged areas, according to a statement released Monday.
Tesco project in the tribal region
Minister Mahmood Khan presided over a meeting to review the Tesco project in the tribal region, instructing relevant officials to expedite work on projects carried out for the supply of electricity to Fata. He said funds were released to Tesco to upgrade grid stations, transmission lines and 11kv feeders in the merged area. Officials said the project cost for the 10-year development plan would be 2,400 million rupees, and 1.4 billion rupees of the funds needed were released to begin work on projects planned.
The projects planned in Bajaur, Hommeland, North and Giristan. South Waziristan, Khyber, Orkzai and Kurram Regions, and Peshawar, Cohat, Bannu, Rocky, DI Khan and Tank. They also said 44 million rupees were released to power 440 villages in all regions under the ADP and in the FR.
The officials said
The project undertaken in the emergency is the rehabilitation of the Marken and Tiarza regions of South and Gyrstan, four branches of 11kv feeders and the linkage of 132kv new grid stations and eight 11kv feeders of Khar, Bajaur and upgrade of 66kv grid stations. It is said to include. 132kv from Khar and Jandola. They also announced a total of 3,197 billion rupees (Rs) for a 10-year development plan, with 2.18 billion rupees released to upgrade 66kv grid stations in the Orakzai and Kurram regions. It became.
Officials included 132kv transmission lines in northern Msmand, 132kv transmission lines, estimated cost Rs845 million, Miramshah and Razmak transmissions, power transformers nationwide, and an additional 40mva power transformer with a transformer bay were also included in the ADP.
CM said that the development of the power infrastructure and its capabilities are paramount to providing basic services, providing immediate relief to residents and shaping development projects in tribal areas.
Federal Tax Ombudsman
On Monday, the Federal Tax Ombudsman (FTO) said that unnecessary representatives of the Federal Board of Revenue (FBR) to the president challenged jurisdictions, preventing taxpayers from obtaining legitimate rights. In deciding complaints about non-refunds, the FTO Mustahq Ahmad Sukhera said that FBR police officers seem determined to challenge the Ombudsman's jurisdiction and raise unnecessary objections.
The FBR instructed police officers to appeal jurisdiction where appropriate, but said it continued to provide wise comments and unnecessary complaints to the ombudsman's jurisdiction. In hundreds of decisions, the president insisted that the FBR submit unnecessary expressions. However, FBR and tax officials must submit a statement that frustrates the taxpayer.
He also said that the president's decision was being passed to the FBR, but officers said they would not dig into it equally. It has been repeatedly emphasized that FBR officials must comply with the obligations of the bylaws / statutes rather than create difficulties for taxpayers.
According to the FTO, valuable time can only be attended by FBR's frivolous objections. In another recommendation to the FBR, the FTO said, along with the FBR, that it was decided by the court that the taxpayer's unpaid money is God's money and must be quickly refunded using a good conscience.
Surpassing the 35,000 level
Bulls rose the KSE-100 index to 899.85 points (2.62%) on Monday, surpassing the 35,000 level at 35,277.46 in four months. Investor enthusiasm has been fueled by market-related reasons, such as the continued appropriation of cement stocks against the expectation of a massive increase in dispatch and the possibility of a policy rate cut by the Pakistan State Bank in the coming monetary policy.
Investor sentiment was further strengthened by expectations for a rate cut in the National Savings System (NSS), whose summary was forwarded to the Treasury. Increased the likelihood of converting funds placed in fixed income investments into stocks.
Macroscopically, Pakistan has maintained its budget deficit at 0.9pc or about 400 billion rupees of GDP for the first quarter of its current fiscal year, analysts thanked the International Monetary Fund.
On the political side
The peaceful protests of Islamabad opposition and the lukewarm support of the two major political parties provided uneventful hope. Foreigners sold $ 3.27m of shares. Banks and individuals also booked profits, but companies and mutual funds were many buyers. The volume of trade was 207.5m, up 32pc from the previous session, trading at $ 54.3m, up 31pc.
By division, cement closed all 90 points at the high end with DG Khan, Maple Leaf, Cherat and Pioneer. In the banking space, all major players gained value and the oil price closed positively.
Major contributions to the index upside during the script came from Habib Bank, 4.51pc, MCB 4.61pc, Hub Power 4.61pc, Engro Corporation 2.79pc, Lucky Cement 4.73pc, United Bank 2.97pc, Fauji Fertilizer 3.04pc, Pakistan Petroleum 1.97 . PC, Engro Fertilizer 3.09pc and Petroleum and Development Company 1.61pc.
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