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Africa: Climate Change Finance, Natural Capital Accounting By African Countries, Top African Development Bank Group's Agenda At Cop 29

[African Development Bank (AfDB)] The world's largest annual climate conference opens in Baku, Azerbaijan, on Monday, with African nations ramping up efforts to tackle climate change. At COP29, the African Development Bank aims to mobilize additional resources for climate action in Africa and launch a bold new approach to assessing African economies by including their "green wealth."




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Nigeria: WFP Calls for Urgent Life-Saving Support in Nigeria As 33 Million People Face Food Insecurity in 2025

[WFP] Geneva -- This is a summary of what was said by Chi Lael, WFP Spokesperson for Nigeria (speaking from Abuja via Zoom) - to whom quoted text may be attributed - at today's press briefing at the Palais des Nations in Geneva.




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North Africa: Groupe Telecom Algerie

[Huawei] Istanbul, Türkiye -- The Net5.5G Pioneer Award ceremony was successfully held at the Net5.5G Intelligent IP Network Summit themed "Accelerating Net5.5G, Striding to Intelligence" during the 10th Global Ultra-Broadband Forum (UBBF 2024), co-hosted by the UN Broadband Commission, World Broadband Association (WBBA), and Huawei.




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Bo Xilai: Anti-Corruption Failure in China

At the root of Bo Xilai's fall from a shining political career is a chronic, systemic problem of corruption in China's single-party political system.




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Afghanistan's Upcoming Presidential Elections

On April 5, the Afghan people will vote in the country's third-ever presidential elections, but corruption and security pose significant obstacles.




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Could Iran Emerge as the Middle East Superpower?




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IMF isn’t doing enough to support Africa: billions could be made available through special drawing rights

At the 2021 UN Climate Summit, Barbados prime minister Mia Mottley called for more and better use of special drawing rights (SDRs), the International Monetary Fund’s reserve asset. The special drawing right is an international reserve asset created by the IMF. It is not a currency—its value is based on a basket of five currencies, […]




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U.S. Senate Seats up for Reelection

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NBA Cup: Hawks catch Celtics in closing seconds for win

Jalen Johnson had 18 points, 13 rebounds, 10 assists and three steals to lead the visiting Atlanta Hawks to a 117-116 victory over the Boston Celtics on Tuesday in the first NBA Cup game for each team. Jaylen Brown and Derrick White scored season highs of 37 points and 31 points, respectively, for the Celtics. Brown was 7 of 12 from 3-point territory and 10 of 15 overall. White added six rebounds and five assists. Atlanta took a 117-116 lead when Onyeka Okongwu tipped in a missed shot with 6.1 seconds to play. After each team turned the ball over […]...

Keep on reading: NBA Cup: Hawks catch Celtics in closing seconds for win




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Japan's 7-Eleven reportedly considering management buyout of up to $58B

TOKYO, Japan — Japan’s Seven & i Holdings 3382.T is considering launching a management buyout that would see the retailer go private in a deal that could be worth up to $58 billion, Bloomberg News reported on Wednesday. The Nikkei newspaper also reported that the owner of the 7-Eleven convenience store chain was looking at […]...

Keep on reading: Japan's 7-Eleven reportedly considering management buyout of up to $58B




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NBA Cup: Pistons beat Heat in OT, aided by technical FT

Malik Beasley made a go-ahead technical free throw with 1.1 seconds left in overtime and the host Detroit Pistons escaped with a wild 123-121 victory over the Miami Heat in the NBA Cup opener for both teams on Tuesday night. Tyler Herro, who scored the last nine points of regulation, all on 3-pointers, to force overtime, gave the Heat a two-point lead on a bank shot with 1.8 seconds left in overtime. An alley-oop dunk by Jalen Duren off an inbounds pass Cade Cunningham tied the score. READ: NBA Cup set to begin with eight group-play games The Heat called […]...

Keep on reading: NBA Cup: Pistons beat Heat in OT, aided by technical FT




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NBA Cup: Franz Wagner scoring surge as Magic rout Hornets

Franz Wagner pumped in 32 points on Tuesday as the Orlando Magic cruised past the visiting Charlotte Hornets, 114-89, in NBA Cup action. Moritz Wagner scored 18 points off the bench and Jalen Suggs tallied all 17 of his points in the first half for Orlando, which has its first three-game winning streak of the season. Franz Wagner made 14 of 25 shots from the field as the Magic shot 46.2 percent overall. He also led Orlando with eight rebounds and five assists. READ: NBA Cup set to begin with eight group-play games LaMelo Ball’s 35 points and Grant Williams’ […]...

Keep on reading: NBA Cup: Franz Wagner scoring surge as Magic rout Hornets




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NBA Cup: Joel Embiid scores 13 in return as 76ers fall to Knicks

OG Anunoby scored 24 points and Josh Hart recorded a triple-double as the New York Knicks spoiled Joel Embiid’s season debut with a 111-99 road win over the Philadelphia 76ers on Tuesday. In both teams’ first NBA Cup game this season — not to mention a rematch of last season’s first-round playoff series that New York won in six games — all five Knicks starters scored in double figures, as did Miles McBride with 15 points off the bench. Hart finished with 14 points, 12 rebounds and 10 assists. Karl-Anthony Towns chipped in 21 points and 13 rebounds, while Jalen […]...

Keep on reading: NBA Cup: Joel Embiid scores 13 in return as 76ers fall to Knicks




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Police round up crypto-mining power thieves

Police and electricity authorities have raided buildings in Chachoengsao and Surat Thani provinces, arrested suspects and seized cryptocurrency mining machines that stole tens of millions of baht worth of electricity.




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Italy's 'cannabis light' trade may go up in smoke with law change

Italy's flourishing "cannabis light" industry is at risk, with Prime Minister Giorgia Meloni pushes a bill through parliament to deflower a crop that is legal across much of Europe. Her conservative coalition wants to ban the sale of hemp flower products, but those in the trade say it's economic suicide. - REUTERS




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Somali Americans Gear Up for U.S. Elections

[VOA] Minneapolis, Mn -- Somali Americans in Minnesota last month took part in a town hall involving Democratic and Republican party representatives encouraging them to participate in the 2024 election, arguing the stakes are high for them and their grandchildren.




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Germany, Somalia Agree to Step Up Deportations

[Shabelle] Germany and Somalia are to cooperate on stepping up the deportation of migrants from the East African country.




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Somaliland Says Ready for Peaceful Elections, Calls for International Support Against Security Threats

[Addis Standard] Addis Abeba -- The Ministry of Foreign Affairs and International Cooperation of Somaliland has announced progress in preparing for the upcoming presidential and party elections scheduled to take place on 13 November this year.




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Somalia's Council of Ministers Steps Up Anti-Terrorism and Money Laundering Efforts

[Shabelle] Mogadishu, Somalia -- In its weekly session, Somalia's Council of Ministers, under the leadership of Prime Minister Hamsa Abdi Barre, delved into a comprehensive review of the nation's strategies and achievements in combating terrorism and financial crimes.




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Rubbish build up after Spanish floods leads to health issues as search for missing people continues

Rubbish build up after Spanish floods leads to health issues as search for missing people continues




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With the upcoming Kovačević ruling, let justice be done for Bosnia’s democracy

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Trump says Musk, Ramaswamy will form outside group to advise White House on government efficiency

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Sin’s Corruption of Our Character

The problem of sin isn’t fundamentally external. It’s most visible in our actions, but our actions are merely the manifestation of a corruption that comes from within.

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Sin’s Corruption of Our Conversation

The doctrine of man’s depravity, of all the cardinal biblical truths should never need to be defended. The empirical evidence for man’s sinful nature is irrefutable and ubiquitous. It is the inescapable reality of life.

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Sin’s Corruption of Our Conduct

All false religions lie to us about man. While most of them concede that man has not reached perfection, they refuse to acknowledge the bare sinful facts of life and history. They insist on offering a system of human achievement that can please God. Only God’s Word tells us the painful yet loving truth.

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Comprehensive Corruption

When it comes to man’s fallen nature, Scripture is clear about the depth and breadth of its defilement. The apostle Paul delivers a blunt assessment of man’s sinful corruption in his epistle to the Romans.

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Amid Great Challenges, Hope Reigns As More Children Reached with Education Support

Amid unprecedented global challenges and a growing list of countries in crisis, there is an existential threat to decades of development gains—with the global community marked by intensified armed conflict, forced displacements, and the debilitating effects of climate crises. One in five children worldwide lives in or flees from conflict. The number of crisis-affected children […]




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Meet the Young Women Arrested for Fighting Corruption in Uganda

Until recently, Margaret Natabi would never have dreamed of taking her anti-corruption fight on the streets of Uganda’s capital, Kampala. Natabi, 24, is a University student. She has first-hand experience of how corruption affects marginalized groups, especially women and girls. She was orphaned during childhood. Her mother died while giving birth to one of her […]




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Egyptian Parliament Moves to Strengthen Support for People with Disabilities and the Elderly

In a significant move to address the challenges faced by people with disabilities and the elderly, six Egyptian parliamentary committees met in Cairo on October 12 to discuss national strategies and legislative efforts. The Forum of Arab Parliamentarians on Population and Development and the Asian Population and Development Association (APDA), with support from the United […]



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Facelift for mansion owned by ‘Wonga coup’ plotter Thatcher and Gupta state capture fugitives

A British business person is keeping the skeleton of the dilapidated R20 million Upper Constantia house, but has to replace the roof and the interior




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Princess Beatrice steps up for King Charles amid new Royal role

Princess Beatrice stepped into the spotlight earlier this week during a visit to The King’s Foundation’s Future Textiles exhibition at the Garrison Chapel in London. The 36-year-old royal was warmly greeted by Jacqueline Farrell, the charity’s Education Director, and had the...




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Queen Camilla supports Prince William to seek encouragement from followers

Queen Camilla has sparked a surge of support for a cause close to her heart, following in the footsteps of Prince William with a powerful new documentary. Her Majesty The Queen: Behind Closed Doors, which aired on ITV on Monday evening, offered a deeply personal look at her first year as...




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Tom Brady admits “screwing up” as a father, “a lot”

Tom Brady on fatherhoood Tom Brady finds being a father the “hardest job,” one he admits he is not good at.The former NFL star accepted the fact that he didn't always give his best being a father to son Jack, 17, whom he shares with ex Bridget Moynahan, as well as son Benjamin,...




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UNEP: Nations Must Step Up Adaptation—Starting with Bold Finance Action at COP 29

The United Nations Environment Programme’s (UNEP) 2024 Adaptation Gap Report has warned that adaptation actions are not keeping pace with the surging demands of a warming planet. Released ahead of the COP29 climate conference in Baku, Azerbaijan, the report—titled Come Hell and High Water—projected a bleak future where vulnerable communities bear the brunt of climate-induced hardships.  […]




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Without Supercharging Adaptation Funding Global Temperatures Could Surge

The Head of Impact Assessment and Adaptation, Henry Neufeldt, UN Environment Programme Copenhagen Climate Centre, has called for increased climate adaptation funding, particularly for developing nations facing significant climate risks. UNEP’s latest report reveals an acute adaptation finance gap, with current international funding for developing countries at USD 30 billion—far below the USD 200 to 400 […]




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Supporting Azerbaijan’s Green Energy Transition

With ADB’s support, Azerbaijan is investing heavily in renewable energy to encourage sustainable growth and diversify the country’s energy supply.




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Asian Development Blog: Key Strategies to Improve Mental Health Support Across Asia and the Pacific

World Mental Health Day is a timely reminder that integrating mental health care into schools, workplaces, and communities is critical for improving health outcomes and reducing costs. Expanding digital interventions and peer-support systems are also crucial, particularly in low- and middle-income countries.








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Integrated Financial Supervision: An Institutional Perspective for the Philippines

Philippine institutions and governance structures must be strengthened as part of any effort to reform the country's financial supervisory structure.



  • Publications/Papers and Briefs

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India asks states to consider setting up nuclear power plants, list power utilities

India’s federal power minister on Tuesday asked the states that are away from coal resources to consider setting up nuclear-based power plants, besides identifying and listing the power utilities to meet investments to support growing power demand.

The Indian government in its federal budget this year had proposed to partner with private players to develop small nuclear reactors to increase the amount of electricity from sources that do not produce carbon dioxide emissions.

States should consider setting up nuclear power plants at the sites where coal-based thermal power plants have completed their life, Manohar Lal, the country’s power minister, told states as per a government statement.

India’s stringent nuclear compensation laws have hampered talks with foreign power plant builders such as General Electric GE.N and Westinghouse.

The country, which currently has about 8 gigawatts of nuclear capacity, aims to increase it to 20 GW by 2032.

The minister also asked the states to identify and list their power utilities in the country’s stock exchange to meet increasing investment demand in the power sector as well as improve the transmission system to add more renewable capacity.

India has pledged to achieve a net zero carbon emission target by 2070 and has a target of 500 GW of renewable energy by 2030.




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Constitutional bench to start hearing cases from Nov 14: Supreme Court

The Supreme Court (SC) on Tuesday announced that the recently established constitutional bench will start hearing cases on November 14 and 15.

Earlier, the SC constituted a three-judge committee to fix cases, issue court rosters, form benches, and decide weekly caseload for its recently established constitutional bench.

The committee held a meeting today which was chaired by Justice Aminud Din Khan (head of the constitutional bench) and attended by Justice Jamal Khan Mandokhail and Justice Muhammad Ali Mazhar, who participated through a telephone call from Karachi.

The SC said in a press release, a copy of which is available with Dawn.com, that the purpose of the meeting was to discuss matters for the formation of the constitutional bench.

During the meeting, the committee was briefed by the court’s registrar’s office regarding the pending constitutional cases, the statement said adding, “[The] committee resolved that priority shall be accorded to the oldest cases.”

On Nov 5, the Judicial Commission of Pakistan (JCP), in its maiden session, had picked Justice Amin as head of the constitutional bench by a seven-to-five majority.

Chaired by Chief Jus­tice of Pakistan (CJP) Jus­tice Yahya Afridi, the reconstituted JCP for­m­ed a seven-member con­stitutional bench, inc­­luding Justices Ami­nud Din Khan, Jamal Khan Mandokhail, Muha­m­mad Ali Mazhar, Ayesha A. Malik, Hassan Azhar Rizvi, Musarrat Hilali and Naeem Akhtar Afghan.

Today’s press release mentioned that Justice Ayesha Malik will not be available on Nov 14 and 15 and “a bench comprising all available Judges shall be constituted to proceed with cases on these dates.”

The SC Registrar Muh­ammad Salim Khan released the court roster of a six-member constitutional bench which will begin hearing cases at 9:30am on Nov 14.

The bench will include Justice Jamal Khan Mandokhail, Justice Muhammad Ali Mazhar, Justice Hasan Azhar Rizvi, Justice Musarrat Hilali and Justice Naeem Akhtar Afghan.

The SC directed the Registrar to schedule cases for hearing before the bench.

The next meeting of the committee will be held on Nov 13 at 12:30pm after Justice Muhammad Ali Mazhar arrives in Islamabad.




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Aid groups slam Israeli duplicity on relief delivery

JERUSALEM: Aid agencies slammed Israel for continuing to obstruct the delivery of aid to Gaza, despite Tel Aviv’s claims that it had opened an additional crossing into the besieged territory on the eve of a US deadline to boost relief deliveries.

The United States last month warned Israel to improve the humanitarian conditions in Gaza or risk a cut to its military support.

A day before the deadline, the Israeli military said it opened the Kissufim crossing “as part of the effort and commitment to increase the volume and routes of aid” to Gaza.

But the UN agency for Palestinian refugees (UNRWA) and eight humanitarian groups said Israel was still not doing enough to get aid in as the situation in the besieged north becomes especially “catastrophic”.

On eve of US deadline to restore aid supplies to Gaza, Tel Aviv claims to have opened another border crossing

The eight organisations, including Oxfam and Save The Children, said Israel “failed to comply” with US demands — “at enormous human cost for Palestinian civilians in Gaza”.

“The humanitarian situation in Gaza is now at its worst point since the war began in October 2023,” they said in a joint statement.

Asked about whether there were signs the situation had improved ahead of Wednesday’s deadline, Louise Wateridge, an UNRWA emergencies officer, highlighted that “aid entering the Gaza Strip is at its lowest level in months”.

No food was permitted to enter besieged northern Gaza for an entire month, Wateridge said, adding that UN requests to access the area have been repeatedly denied.

Wateridge said that testimonies from the north painted “an endlessly horrific” picture that was becoming “more critical” by the hour.

“Hospitals have been bombed, the doctors inform us that they have run out of blood supplies, they have run out of medicine… there are bodies in the streets.”

Separately, a spokesperson for the Norwegian Refugee Council told Al Jazeera that Israelis were obstructing aid from entering through the crossings.

“Aid is arbitrarily rejected and essential supplies are not allowed in, including timber to help people build shelters as they face winter. Sometimes the requests to access those crossings are denied for over a month,” Shaina Low, NRC’s communications adviser, told Al Jazeera.

Once the aid enters Gaza, aid workers must request safe routes through which they can safely distribute the aid.

“Israel often denies requests to move from place to place in order to reach Palestinian families that are in desperate need,” Low said.

However, the US State Department on Tuesday said that Israel was not violating US law on the level of aid entering Gaza, but called for further progress.

Asked if Israel had met the US demands, State Department spokesman Vedant Patel said of Israel, “We have not made an assessment that they are in violation of US law,” but added: “The overall humanitarian situation in Gaza continues to be unsatisfactory”.

“But in the context of the letter, it’s not about whether we find something satisfactory or not; it’s what are the actions that we’re seeing,” he said, adding that Tel Aviv was taking steps in the right direction.

Attacks on Gaza

Gaza’s civil defence agency said that at least 14 people were killed in Israeli strikes on Tuesday.

On Tuesday, residents said Israeli tanks advanced deeper in Beit Hanoun and besieged four displaced families before ordering them to leave towards Gaza City.

The health ministry in Gaza said on Tuesday that at least 43,665 people have been killed in more than 13 months.

Published in Dawn, November 13th, 2024




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IMF seeks update on revenue system’s digital overhaul

• Holds introductory meeting with finance minister
• Govt pledges to end gas supply to captive power plants by Jan
• Lender’s team to hold joint session with power and petroleum divisions today

ISLAMABAD: The International Monetary Fund (IMF) has sought a detailed, output-based update on Pakistan’s digitalisation plans for its revenue system, including the use of artificial intelligence to expand the tax base and increase collections.

On the energy side, the country has pledged to halt gas supply to captive power plants (CPPs) by January 2025, redirecting them to the national grid despite a strong pushback from influential rent-seeking industrialists. The IMF has firmly rejected any amendments to this programme benchmark.

The visiting IMF team, led by Pakistan’s mission chief Nathan Porter, held an introductory meeting on Tuesday with Finance Minister Muhammad Aurangzeb. Minister of State for Revenue Ali Pervez Malik, State Bank Governor Jameel Ahmad and Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial were also present.

The mission is also holding separate technical sessions with all the stakeholders, including the FBR, power and petroleum divisions and the energy sector regulatory authorities. In all these engagements, the mission appeared to have not expressed its mind so far, except from raising exploratory questions, participants told Dawn.

It is not yet clear if the dialogue would lead to policy-level discussions that had been a critical part of IMF programmes’ quarterly reviews.

The current $7 billion Extended Fund Facility (EFF), however, has been designed in a manner that the IMF and Pakistan authorities should hold biannual review meetings for the disbursement of about $1bn instalments during each cycle.

The first formal review has to take place based on the end-December performance for Pakistan to qualify for disbursement for a second instalment of over $1bn by March 15, 2025.

Officials said the IMF mission has called for detailed explanations on the digitalisation of FBR’s processes for revenue collection, application of artificial intelligence for identifying and tracing tax evaders and their taxable incomes and businesses and involvement of specialised expert firms. They have also sought a complete update on the track-and-trace system.

In initial meetings, the FBR attributed recent revenue shortfalls — particularly in the first month of the second quarter — to the declining inflation.

The power sector’s performance appears to be within agreed limits concerning circular debt and current revenues.

Circular debt rose by about Rs70bn, below earlier estimates of Rs240-250bn. A circular debt management plan was approved only last week by the Economic Coordination Committee (ECC), led by the finance minister.

Sources said the government had been going back and forth over the disconnection of gas supply to inefficient captive power plants, belonging mostly to the textile sector, to utilise surplus capacity in the national power grid.

The industrialists have, however, now mustered support from gas companies. Some stakeholders are now pushing for the supply of imported LNG to CPPs at a weighted average cost of local and imported molecules on the premise that electricity connections were not available or were insufficient in certain areas.

The IMF mission is scheduled to have a joint session with the power and petroleum divisions on Wednesday (today) to discuss their interrelated issues, including circular debt, planned tariff adjustments, loss reduction programmes and recoveries.

Published in Dawn, November 13th, 2024




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Minimum retail price at import stage to make ‘cuppa’ costlier

KARACHI: The Federal Board of Revenue’s (FBR) decision to fix the minimum retail price (MRP) of tea at Rs1,200 per kg for levying sales tax would make the commodity more expensive, warned traders on Tuesday.

Pakistan Tea Association (PTA) Chairman Mohammad Altaf said the MRP at the import stage would have an adverse impact of Rs150-300 per kg on imported tea prices.

The flat MRP also ignores global tea prices hovering between 0.50 cents to over $3 per kg. Tea is imported in different packaging, with bulk shipments typically weighing more than 5kgs and around/approximately 80kgs. An 18 per cent general sales tax is already charged based on the imported tea.

He said before fixing the MRP for sales tax purposes, it is crucial to consider that the definition of “manufacturer” in Section 2(16) of the Sales Tax Act 1990, includes activities such as blending, mixing, processing, and packaging, as clarified in Circular No. 3(11) ST-L&P/2013-94433-R dated July 17, 2019. Based on this, tea imported for these processes qualifies as “raw material”.

Tea sellers warn FBR move will incentivise arrival of low-quality product via illegal channels

“According to judicial interpretations (e.g., CTO v. Rajasthan Taxchem Ltd., 2007) and definitions in Advanced Law Lexicon, “raw material” includes ingredients necessary for manufacturing. Tea used in blending and packaging clearly falls under this category, he added.

Accordingly, sales tax should be based on the import value, as per Subsection 46(f) of Section 2 of the Sales Tax Act, 1990, rather than the minimum retail price, Altaf said.

Tea retail prices vary significantly due to numerous factors, including the company, method of sale (open or packaged), product quality, and regional differences. The PTA chief said that the flat MRP rate per kg also does not reflect the prices charged by most traders, manufacturers, and sellers.

The imposition of a flat rate per kg would have severe negative consequences for a large portion of the tea trade, which may result in reduced business activity and ultimately lead to a loss of revenue for the national exchequer via misusing several exemptions.

Two-thirds of Pakista­nis purchase tea at Rs700-950 per kg, reflecting socio-economic and regional price variations.

He said that MRP cannot be applied at the import stage as the tea has to follow various value-addition procedures before it is made shelf-ready. “This MRP disrupts the supply chain and eradicates the role of wholesalers and distributors who play a vital role in the business, while MRP at the import stage also eradicates the basic right of commercial imports,” the PTA chief observed.

Tea is a part of our daily diet, a staple food item, not a drink.

Most people in rural and urban areas consume tea as per their earnings. Further fixing of MRP will incentivise unscrupulous elements to exploit the situation, and thus, import of low-priced teas will find its way through illegal channels, Altaf feared.

Published in Dawn, November 13th, 2024




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