Page 1 - Pakistan Link - May 17, 2019

Pakistan Link
MAY 17, 2019 – PAKISTAN LINK – P1

The Largest Circulated Pakistani-American Newspaper in North America
VOL. 29/20 13 Ramadan 1440 Friday, May 17, 2019 US & Canada $1.00

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Economic Stability IMF Deal Termed LLF Spotlights For news,

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Pakistan Ranks Third PTI Launches Tax Amnesty Scheme US Dollar Touches
in Hydel Power Growth All-Time High at Rs146.25

Lahore: Pakistan has been ranked Karachi: Th e value of the US dol-
third in the world among the top 20 lar against the rupee on Wednesday
countries for newly installed hydro- touched an all-time high of Rs146.25
power capacity in 2018. in the open market, DawnNewsTV
Th e country was placed at third reported.
position by the United Kingdom- Th e greenback’s value increased
based renowned organization — In- by Rs2.25 to reach an all-time high
ternational Hydropower Association amid speculations that the local cur-
(IHA) — in its recently issued report rency will depreciate further.
titled “2019: Hydropower Status Re- Earlier on Monday, the US dol-
port — Sector Trends and Insights”. lar had gained Rs2 against the rupee
Formed under the auspices of in the open market as there were
UNESCO in 1995 as a forum to pro- strong speculations that the rupee
mote and disseminate good practice will depreciate signifi cantly aft er the
about hydropower, IHA champions signing of a bailout agreement with
continuous improvement and sus- the International Monetary Fund
tainable practices in the hydropower (IMF).
sector. Th e IMF spoke of a “market
According to the IHA report, determined exchange rate” in its
Pakistan managed to add 2,487MW statement on the program, and the
of hydel electricity in 2018 behind fi nancial markets have not taken
China and Brazil at the fi rst and sec- the words very well. Speculation has
ond rung that added 8,540MW and FBR Chairman Syed Shabbar Zaidi, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh, Minister of State for been high in the forex markets, with
3,866MW to their systems respec- Revenue Hammad Azhar, and Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan small and large investors looking to-
tively. brief the media on the tax amnesty scheme in Islamabad wards the greenback.
Turkey with an addition of “Th e potential for higher rate
1085MW and Angola with an ad- Islamabad: Th e Pakistan Tehreek-i- Th e scheme has come into ef- of taxes until June 30 this year. of dollar is visible in the inter-bank
dition of 668MW remained at 4th Insaf government has announced its fect through a presidential ordi- Th e scheme, approved by the money market,” a banker was re-
and 5th positions respectively. India fi rst tax amnesty scheme for whit- nance, which will off er a period of federal cabinet during a meeting cently quoted as saying.
stood at the 8th position by adding ening of undisclosed expenditures, 45 days to people for declaration of presided over by Prime Minister Im- “Fears of further devaluation as
535MW hydel electricity to its sys- sales and assets, including foreign their undeclared assets, expendi- ran Khan on Tuesday, has fi ve main a result of the agreement with the
GROWTH, P28 assets, at nominal tax rates. tures, and sales along with payment SCHEME, P28 DOLLAR, P28
Chartered Plane to Take 65 Saudi ‘Green Card’ Residency Plan for Expats England Win
Deported Pakistanis Home Third ODI by 6 Wickets

Washington: Two weeks aft er the Riyadh: Th e Saudi cabi- Bristol: English openers Jonny
Trump administration imposed net is deliberating over Bairstow and Jason Roy’s devas-
visa sanctions on Pakistan, a special a scheme to issue ‘Privi- tating knocks up the order helped
chartered plane will be taking some leged Iqamas’ to expa- their side track down a seemingly
65 individuals deported by the Unit- triates that would allow insurmountable 359-run target that
ed States to Pakistan. them to become perma- Pakistan had amassed in the 3rd
All these individuals were de- nent residents, own prop- ODI in Bristol on Tuesday.
tained and prosecuted for immi- erties and start businesses Bairstow’s 128-run knock off
gration violations, criminal con- in the kingdom without 93 balls was pivotal in the run chase
duct and other serious off ences. the need of local sponsors but so was Roy, who contributed a
Th e United States has arranged called kafeel, Arab News 55-ball 76 and formed a 159-run
a special chartered plane to send reported. stand for the opening wicket.
these detainees back to Islamabad It is pertinent to By the time Roy was dismissed
on Wednesday, according to Th e mention here that in the by Faheem Ashraf in the 18th over,
News International. existing system, expatri- most of the damage was done and
“Th e decision to send these ates cannot start a busi- the required run rate was well under
individuals back came on the heels ness without a kafeel, who control.
of a warning issued late last month is required to have a size- Joe Root (43) and Ben Stokes
that the imposed visa sanction able share in the venture, (37) played their parts before the
policy might also withhold visas which oft en leads to mon- from the hassle of visit- card’, could also ben- Arabia every year”, Arab pairing of Moeen Ali and captain
of Pakistani senior offi cials and not etary disputes. ing embassies every few efi t the nearly 2.7 million News stated. Eoin Morgan, 46 and 17-run un-
just ordinary travelers. If the new scheme is months to get extensions. Pakistanis living in Saudi “Th e biggest benefi - beaten innings respectively, got
“Pakistan was the latest to join approved, those on visit Th e Privileged Iqa- Arabia who “remit nearly ciaries of the new scheme their side over the line for the loss of
DEPORTATION, P28 visas will also be spared ma, or the Saudi ‘green $6 billion from Saudi CARD, P28 CRICKET, P28

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