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Survey Reveals Most Annoying Workplace Buzzwords

Companies claiming to create “synergies” in an effort to develop a “value-added” “paradigm” that leads to new “solutions” may want to be strategic in another way: not going overboard with cliche phrases and industry jargon. According to a recent survey, terms such as these are among the most overused in the workplace. The national poll by Accountemps includes responses from ...

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IFAC names PWC senior partner as its new president

The Council of the International Federation of Accountants (IFAC) has named Graham Ward, currently a senior partner within the Global Energy and Utilities Group of PricewaterhouseCoopers, as its new president for a two-year term concluding November 2006. Ward will lead IFAC, which represents 157 accountancy bodies worldwide and their 2.5 million accountants, at a time when the work of both ...

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CBR intelligence officials powers enhanced

ISLAMABAD (January 09 2005): The Central Board of Revenue (CBR) has enhanced the powers of intelligence officials working under Directorate General of Intelligence and Investigation Customs and Excise, which include seizure and confiscation of imported goods. The CBR has enlarged the scope of section 17 of the Customs Act, 1969 encompassing the director general of intelligence and investigation, director of ...

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Income tax exemption for gas-fired power plant sought

ISLAMABAD (January 10 2005): The Private Power Infrastructure Board (PPIB) has recommended to the government that income tax exemption may be extended to those gas fired power plants, which intend to use dual-fuel option (furnace oil + gas) due to non-availability or less availability of gas, reliable sources in the Petroleum Ministry have indicated. “Government should extend income tax exemption ...

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KAPCO's tax exemption to end in 2006

KARACHI (January 10 2005): The tax exemption on Kot Addu Power, which produces 26 percent of the total energy generated by Independent Power Producers and contributes 8 percent of the total energy needs of Pakistan, would end in 2006. Kot Addu Power Company Limited (Kapco) Chief Executive Malcolm Clampin met analysts at the local brokerage houses and formally introduced the ...

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RCITs told to implement Zone-B idea of tax facilitation centres

LAHORE (January 10 2005): The Central Board of Revenue (CBR), while appreciating the novel concept introduced recently by Zone-B of Eastern Region to set up Tax Facilitation Centres/Camps (TFCs) in the markets, have directed all the Regional Commissioners of Income Tax (RCITs) to implement the idea in their respective areas of jurisdiction. The CBR through a letter sent to all ...

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SECP fails to check corporate irregularities: Honda Chairman

KARACHI (January 08 2005): The role of Securities and Exchange Commission of Pakistan (SECP) in enforcement of corporate governance is not satisfactory as it fails to check corporate irregularities. The SECP definition of corporate governance itself is not only vague, but is also not applicable to the government organisations such as Water and Power Development Authority (Wapda), Karachi Water and ...

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No service charge on various PLS accounts

KARACHI (January 08 2005): The State Bank of Pakistan (SBP) has exempted various categories of PLS account from service charges. A notification issued by the SBP here on Friday said: “Banks are further directed that accounts maintained by students, mustahiqueen of Zakat and employees of government/ semi-government institutions for salary and pension purposes including widows, children of deceased employees eligible ...

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Sales tax relief on unsold stocks extended

KARACHI (January 08 2005): The Central Board of Revenue (CBR) has extended the sales tax exemption on unsold stocks of the importers, which expired on December 31, till March 31. The Sales Tax Collectorate sources said on Wednesday that the extension on unsold stocks had been granted on the recommendation of Karachi Chamber of Commerce and Industry (KCCI) and other ...

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SBP sets up $15 million fund for micro-finance banks

KARACHI (January 06 2005): The State Bank of Pakistan (SBP) on Wednesday announced establishment of a New Bank Fund (NBF) worth $15 million to provide institutional strengthening support to district and province-based Micro-finance Banks (MFBs). The SBP said that the Fund would provide institution and network building soft loans to new Micro-finance Banks licensed by the State Bank to operate ...

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