AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

The provincial Cabinet of Khyber Pakhtunkhwa Monday approved 'Khyber Pakhtunkhwa Zakat and Usher Bill 2011' for running the system of Zakat effectively in the province. After the abolition of the concurrent list, alternative legislation had become inevitable for the province. The Cabinet also reviewed progress on the implementation of the decisions taken in its previous meetings.
The meeting of the provincial Cabinet was held here at the Civil Secretariat with KP Chief Minister Ameer Haider Khan Hoti in the Chair. Provincial Minister for Information Mian Iftikhar Hussain said that before the passage of 18th Constitutional Amendment, the department of Zakat was on the concurrent list and after its abolition, the province was required to make alternative legislation to run the system of Zakat in the province.
The bill, he said was presented before the Cabinet, which after a thorough discussion approved it and now it will be tabled in the provincial assembly. He said that under the new bill, the provincial Zakat council will prepare annual Zakat budget and the funds would be transferred to district Zakat committees and local committees will distribute the funds among the deserving people.
The Khyber Pakhtunkhwa Zakat and Usher Council will comprise of 12 members, a chairman, five council members including two Islamic scholars, two women while provincial secretaries finance, Zakat and health will be ex-officio members of the Council.
In settled areas, a local Zakat committee would comprise of one revenue estate while in unsettled rural areas it would be at the level of village. The Cabinet also approved 'Khyber Pakhtunkhwa Establishment of Information Technology Board Bill 2011' under which a board would be established for the promotion of IT sector in the province.
Meanwhile, the Cabinet deferred the decision to exempt industries and industrial estates from UIP tax saying waiving the tax will incur a loss of Rs 9 million to the government. Later, briefing the media, Hoti said that the cabinet in its last meeting had directed the department of industries to consider the exemption of industries and industrial estates from UIP tax in light of the industrial policy after consultation with the departments of local government, excise and taxation, and finance. The department was directed to file a report in this regard within two months. He informed that the department of industries in view of financial crunch has proposed deferring of the matter for the time being.

Copyright Business Recorder, 2011

Comments

Comments are closed.