PIA postulated grant from PSX, SECP fees
PIA planes. PHOTO: EXPRESS
ISLAMABAD: The sovereign Cabinet on Tuesday authorized extend to a Pakistan International Airlines Corporation (PIAC) from fees payable to a Pakistan Stock Exchange (PSX) and a Securities and Exchange Commission of Pakistan (SECP) on distribution of shares.
According to a press release, a Cabinet authorized a offer by a Aviation Division to extend grant to a PIAC from a 0.1 per cent price payable to a PSX and 10% of a PSX price payable to a SECP on distribution of additional shares.
During a meeting, presided over by Prime Minister Shahid Khaqan Abbasi, a Cabinet also authorized a environment adult of word tribunals in Lahore and Multan.
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An prolongation in a agreement of Omar Arshad Hakeem as legal member (BS-21) of a Customs Appellate Tribunal, Bench II, Lahore, for dual years was allowed. The Cabinet authorized a offer of a Law and Justice Division for a repatriation of Hyderabad Banking Court-I Judge Manoo Mal Khagaija and a appointment of District and Sessions Judge Syed Nasiruddin Shah in his place.
It authorized a appointment of Air Marshal Ahmer Shahzad as Chairman of a Pakistan Aeronautical Complex Board.
It validated a recommendations of a Cabinet cabinet for a ordering of legislative cases and a decisions taken by a Economic Coordination Committee on Sep 14. The signing of a Financial Cooperation Agreement (FCA) 2015 with Germany was also approved.
The Cabinet certified a signing of an MoU between a Intellectual Property Organisation (IPO) of Pakistan and a State Intellectual Property Office (SIPO) of China to capacitate them to learn from any other’s experiences, generally China’s abounding knowledge in regulating a complement in a offset and stretchable demeanour that promotes inhabitant growth and trade while safeguarding IP rights.
It validated a government of a ECO Regional Centre for Cooperation of Anti-Corruption Agencies and Ombudsmen.
The Cabinet certified a Power Division to negotiate sum of a breeze horizon agreement for a doing of an bargain reached between Pakistan and Russia on team-work for a construction of a 600MW healthy gas total cycle energy plant in Jamshoro. The terms and conditions of a loan would be finalised in conference with a financial and mercantile affairs divisions.
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It authorized an amendment to SRO 1125(I)/2011, permitting rebate in sales taxation from 17% to 6% on ready-to-use alien finished articles of weave and leather in line with a World Trade Organisation regulations.
It authorized amendments to a conventions for a deterrence of double taxation and impediment of mercantile semblance with honour to taxes on income with Qatar and Canada for updating a essay on sell of information.
A offer of a Revenue Division to rectify a gathering with South Korea was also approved. Insertion of a word ‘MBM’ after a discuss of “meat and bone meal” in a Import Policy Order for construction was also approved.
Article source: https://tribune.com.pk/story/1522378/pia-granted-exemption-psx-secp-fees/