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Punjab govt to fully participate in Dubai Expo: minister

Punjab govt to fully participate in Dubai Expo: minister
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Govt generates Rs31 72 bn general sales tax on sugar

July 19, 2021 LAHORE: The government generated Rs31.72 billion under the head of general sales tax on sugar while the Punjab government failed to implement the price of Rs85 per kg fixed by it. According to the official data available with The News, sugar millers sold 2.474 million metric tons sugar during December 2020 to May 2021. According to the sales tax returns filed by the sugar millers to the Federal Board of Revenue (FBR), the sugar millers declared that they sold Rs 174.285 billion worth of sugar during this time while average ex-mill rate was declared at Rs70.42 per kg without adding sales tax. After adding wholesale margin and distribution cost of Re one per kilogramme, transport, packaging and retailers margin of Rs4 per kilogramme and 17 percent sales tax which is calculated at Rs12.82 per kg brings the average sales price of sugar at Rs88.24 per kg.

Govt generates Rs31 72b through GST on sugar

July 19, 2021 LAHORE: The government generated Rs31.72 billion under the head of general sales tax on sugar while the Punjab government failed to implement the price of Rs85 per kg fixed by it. According to the official data available with The News, sugar millers sold 2.474 million metric tons sugar during December 2020 to May 2021. According to the sales tax returns filed by the sugar millers to the Federal Board of Revenue (FBR), the sugar millers declared that they sold Rs 174.285 billion worth of sugar during this time while average ex-mill rate was declared at Rs70.42 per kg without adding sales tax. After adding wholesale margin and distribution cost of Re one per kilogramme, transport, packaging and retailers margin of Rs4 per kilogramme and 17 percent sales tax which is calculated at Rs12.82 per kg brings the average sales price of sugar at Rs88.24 per kg.

Auto Parts Technology Park to be set up: Aslam

July 1, 2021 LAHORE: Provincial Minister for Industries and Commerce Mian Aslam Iqbal has said that Auto Parts Technology Park would be set up on nine acres of land in Quaid-e-Azam Business Park, Sheikhupura. He said this while chairing a meeting held to review performance of PIEDMC, progress on the ongoing schemes and implementation strategy of new schemes. He observed that the technology park would have product designing, training centre, parts manufacturing unit, testing and other facilities. He said that the Punjab government had paved the way for the industrial revolution by setting up new industrial zones in the province. Colonization of industrial estates can accelerate economic growth, so PIEDMC should focus on colonization of industrial zones, he said.

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