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IMF says inequality could be reduced via higher income tax for rich!

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WASHINGTON: Utilizing its half-yearly fiscal monitor IMF has stated that forcing the top one percent earners to pay more Income Tax would reduce inequality.

IMF – by means of documents – has rubbished the argument that higher tax rates for rich would cause the economic growth to suffer: “Empirical results do not support this argument, at least for levels of progressivity that are not excessive”.

The global institution has also suggested considering different types of wealth taxes.

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Economy

Ghani issues decree banning Pak trucks from entering Afghanistan

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KABUL: In order to let Afghan transporters get more business, President Ashraf Ghani has issued a decree banning Pakistani trucks from crossing into Afghanistan.

Afghan Ministry of Transport stated:  “The Afghanistan and Pakistan Trade Agreement (APTA) has expired. Before this Pakistan did now allow Afghan trucks to enter its territory. So we do the same and after this Pakistani trucks will be unloaded at borders and Afghan trucks will carry the goods to Hairatan and Shir Khan ports”. 

It is pertinent to mention here that until now many Pakistani  transport companies even ventured into Central Asia to deliver goods there after crossing the border at Torkham and Boldak borders. 

 

 

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Economy

PIA plane slightly damaged after collision with refueling vehicle at Toronto airport!

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MMA

TORONTO: A PIA plane was taxied to the hangar after it was slightly damaged due to collision with a refuel vehicle here today at the Pearson International Airport.

According to details the accident occurred when the process of refueling was in progress. Ground handlers who have been informed of the accident have yet not provided an explanation.   

All the passengers of Toronto-Lahore flight PK-789 were transferred to the hotels when it transpired that the maintenance of the aircraft would take some sixteen hours.  

 

 

 

 

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Business

(TEXT AND VIDEO) 2-day Pakistan Property Show commences in Dubai on 20th October

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EXCLUSIVE REPORT BY SANIA JAMALI IN DUBAI

DUBAI: World Trade Center’s Za’abeel Hall 5 here is the venue where 2-day Pakistan Property Show commenced today.

The event (that has been organized by Zameen.com, in association with EarthLink, Abad and others,) is meant to make Pakistan’s real estate visible globally attracting premium investment.

Overseas Pakistanis from UAE, Saudi Arabia, Oman, Kuwait, Qatar and Bahrain are taking keen interest in the expo.

Talking to Newspakistan.tv the organizers held that Pakistan Property Show 2017 would help strengthen the national exchequer by attracting medium to long-term direct investment.

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