updates

Non-essential imported items: ECC shows intentions to slash regulatory duty ISLAMABAD (October 10, 2009): The Economic Co-ordination Committee (ECC) of the Cabinet has revealed an intent to bring down Regulatory Duty (RD) on unessential imported items imposed last year with a view to discourage imports to narrow down trade deficit, official sources told Business Recorder.

GDS formula: NFC panel fails to evolve consensus ISLAMABAD (October 10, 2009): National Finance Commission (NFC) sub-committee on new Gas Development Surcharge (GDS) formula failed on Friday to evolve consensus and change respective stance of Sindh and Balochistan on the new proposed GDS distribution formula.

Taxmen posted at restaurants, bakeries and sweetmeat shops KARACHI (October 10, 2009): The Federal Board of Revenue (FBR) has tightened the noose around delis' business as some prominent restaurants, bakeries and sweet marts have been monitored to plug revenue leakages.

13,000 tax evaders identified ISLAMABAD (October 10, 2009): The Federal Board of Revenue (FBR) has identified 13,000 tax evaders on the basis of authentic database for 2008-09, resorting to the implementation of the enforcement plan in the field formations. FBR Chairman Sohail Ahmed told media at FBR House here on Friday that around 13,000 tax evaders include National Tax Numbers (NTN) holders who have not filed their returns.

Conditions on military aid reinforce Pakistan policy: Kerry WASHINGTON (October 10, 2009): Senator John Kerry, co-sponsor of $ 7.5 billion Kerry-Lugar bill, has called the legislation a "true sign of US friendship" to the people of Pakistan with no conditions attached to the non-military assistance as his office explained the intent behind the measure amidst parliamentary debate on the subject in Islamabad.

'Look with an open mind': Qureshi urges National Assembly ISLAMABAD (October 10, 2009): The foreign minister, Shah Mahmood Qureshi, has urged parliament on Friday to look with an open mind at the Kerry-Lugar bill. Qureshi told parliament there was no question of the government allowing any violation of sovereignty.

Meeting at the Presidency ISLAMABAD (October 10, 2009): President Asif Ali Zardari held a meeting with senior party leaders here in the Presidency on Friday night. The meeting was attended by Federal ministers Makhdoom Shah Mehmood Qureshi, Qamar Zaman Kaira, Nazar Mohammad Gondal, Babar Awan and Naveed Qamar.

50 killed in Peshawar market blast PESHAWAR (October 10, 2009): At least 50 people were killed and more than 100 others were injured in a huge suicide car bomb which ripped through a bus stop at Sue Karnao Square of the Khyber Bazaaar here on Friday. NWFP Minister for Health, Zahir Ali Shah, talking to reporters at Lady Reading Hospital (LRH) confirmed the death of 50 people and injuries to more than 100 people in the incident.

Operation in Waziristan in days: Malik ISLAMABAD (October 10, 2009): The government on Friday told Senate that a military operation would be launched within three to four days against the Taliban fugitives in South and North Waziristan agencies, the main Taliban strongholds along the border with Afghanistan.

US condemns blast ISLAMABAD (October 10, 2009): U.S. Ambassador to Pakistan Anne W. Patterson on Friday condemned the terrorist bombing in Peshawar that claimed the lives of over 40 people. "This attack serves only to highlight the vicious and inhuman nature of the terrorists who aim to instil fear in the hearts of the Pakistani people," the Ambassador said.