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Wrestling Observer Rewind ★ Nov. 4, 2002
- The results of the Katie Vick angle are in. WWE did the angle last week in an effort to stir up controversy in a desperate ratings grab. Didn't work. This week's Raw was the lowest-watched episode of the show in almost 5 years. On the flip side, this week's Smackdown was the highest rated since April, just in case it's not apparent which approach is working. Paul Heyman's wrestling-centric show is holding up while Raw Is Necrophilia clearly is not. To be fair, from what Dave has heard, most of the people involved in producing the show also thought the Katie Vick angle was horrible. Seems like this is one of those things that only Vince thought was funny and everyone else was forced to go along with (Bruce Prichard has said this himself on the podcast. Says he and everyone else were horrified at having to do the angle this way, but Vince overruled them all). Vince was said to be pretty pissed off about the backlash from the fans while receiving practically no mainstream coverage. He actually wanted to replay the angle later in the show, but was talked out of it after it aired the first time.
- In regards to fan displeasure, TNN was inundated with emails and phone calls and WWE themselves received more than 1,300 complaints. TNN finally released a statement, simply saying that the angle didn't violate their standards and practices. In Australia, where it was edited, the Fox Sports Australia spokesman said it wasn't appropriate for children and would not air again on their network. In Europe, they pretty much digitized the entire screen when it started and then cut away to a shot of the flowers when it got worse, so those viewers didn't see most of the angle either. Vince has doubled-down, sending a memo this week to the creative team that said they are going to continue on the creative course they're going down. The memo was said to be written in a very smart-ass, dismissive way of people who were criticizing the angle. In other words, fuck 'em if they don't like it. So expect more corpse-boning and other soap opera storylines and if you don't like it, suck Vince's dick. That's pretty much the gist. We're heading into sweeps season, where TV ratings are more important than ever. And this month will determine whether Vince McMahon is the kind of promoter who listens to his audience, or if he's the kind of promoter who believes he can convince the audience to like what he likes (pretty sure time has proven the answer to that one).
- WWE announced this week that Scott Steiner has signed a contract. No word on what the money is, but it's confirmed that his contract calls for no more than 14 dates per month, which is pretty much the same schedule Undertaker has. Basically, Scott will work all TVs and PPVs and a handful of house shows. In the short-term, this should be a good boost. Other than Sting or Goldberg, Steiner is pretty much the only guy on the market who could come in and have big time name recognition from day one and maybe move the needle. He still has enough star power from WCW that he can probably work a handful of matches with top WWE stars and do big business. Long-term though....that's another story. WWE is going to need to push him hard from the start and get everything they can out of him as fast as they can because it's unknown how well Steiner's body can hold up to even a 14-date-per-month schedule. No word which show he's going to be on, because they're planning to do an angle where both shows are fighting over him. But Dave expects him to end up on Raw since they need the star power and he figures Steiner vs. Triple H for the title is the natural direction (yup). The last time Steiner wrestled was on recent shows for NJPW and he looked horrible there, clearly in pain and not able to do much. So time will tell.
- Motoko Baba, the widowed wife of Giant Baba, officially stepped away from the wrestling business at a ceremony at AJPW's latest Budokan Hall show. Ms. Baba had already turned over the reins of the company to Keiji Muto a few weeks back, but this ceremony was her official send off in the arena AJPW has called home since 1972. She gave a brief speech to the crowd and thanked them for their support over the past 30 years. Elsewhere on the show, Muto (wrestling under his Great Muta gimmick) captured the Triple Crown title from Genichiro Tenryu. Only 8 days after blowing his right knee out and spending the whole week on crutches, Muto went in and wrestled like he had a death wish, doing 3 moonsaults among other things. After it was over, Muto's knee was said to be hurting worse than ever before. But he's not stopping, and they announced plans for Muto to face Bob Sapp at next week's big Yokohama Arena show. Goldberg is expected to work that show as well.
- WWE's Rebellion PPV is in the books and as usual for these UK-only PPVs, it was pretty much just a glorified house show. Dave recaps it and there's nothing of note here. Angle & Benoit vs. The Guerreros was the best match but duh. Lesnar & Heyman beat Edge in the main event. And that's basically it.
- Dave has finally seen the video of the recent NJPW Tokyo Dome show and reviews it. Bob Sapp was over like crazy and was by far the biggest star on the show. Sooner or later, the wheels are gonna come off this Sapp train and he's gonna get overexposed. But for right now, he's the hottest star in all of Japanese wrestling or MMA. Chyna vs. Masahiro Chono was as awful as expected. Chono laid into Chyna with some kicks harder than Dave expected. He also sold for her way too much and it looked like a joke. After the match, she cut a promo saying her goal is to be the first female IWGP champion. Yuji Nagata vs. Kazuyuki Fujita was the main event for the title and it was good but not great. The show ended on TV showing Chyna sitting in Bob Sapp's lap and acting like they were going to make out. Sure.
- There's a big story on the upcoming Tito Ortiz vs. Ken Shamrock UFC fight that kinda devolves into a story about MMA companies trying to distance themselves from pro wrestling. He talks about recent comments made by Dana White about how the wrestling audience helped them in the early days, but now they want to target "true sports fans" and have no interest in the fans who want soap opera drama. In Japan, pro wrestling fans are by far the biggest crossover audience for PRIDE and K-1 and matches with pro wrestlers are always the biggest draws. But both companies are also trying to distance themselves from wrestling, going to great lengths to never mention "pro wrestling" publicly. When Goldberg did commentary for K-1 a couple months back, they were noticeably doing everything they could to avoid mentioning that he's a famous wrestler, never once acknowledging it. Dave seems to think it's a mistake. Like it or not, pro wrestling is a huge draw for young viewers and being able to "cut promos" and get people interested enough to buy PPVs is a vital part of the MMA business and if you try to hide from that, it's not going to go well (sure enough, to this day, the biggest UFC draws tend to be the guys who aren't just great fighters, but who can also talk big shit the best. Conor McGregor being the obvious example). Anyway, this piece is really long and interesting look at UFC's business in 2002.
- It appears TNA has struck a deal with Dallas-based Panda Energy to purchase a majority interest in the promotion, though Dave has no real specific details on it yet. The question now is, who will be running things? Panda Energy CEO Robert Carter's daughter Dixie Carter runs Trifecta Entertainment, a Nashville-based PR firm that Jerry Jarrett has been using. Dixie put Jarrett in touch with her father and that started negotiations for Panda to purchase stake in the company. Those meetings apparently involved multiple people, including Vince Russo. During a meeting with Panda management last week, Jarrett was informed that Russo has been politicking to take over creative control once the Panda sale goes through and it seems like Panda may indeed be leaning towards Russo over Jarrett. Russo has been telling friends he's confident that once the new owners take over, he'll be in charge of creative. Right now, Russo is pretty much there as a favor to Jeff Jarrett and has almost no power because Jerry Jarrett doesn't allow most of his angles to air. But the reality is, to outsiders who don't know his history, Russo does have an impressive resume. He was the guy booking WWF during their biggest years. Russo has only been allowed to write backstage promos since joining TNA and even those haven't gone well. On the show a couple weeks ago, Syxx, Curt Hennig, and Ron Killings all went against the scripts Russo had written for them (the racial stuff) and said their own things instead. Several other wrestlers have vowed to quit if Russo ends up getting control. Jerry Jarrett seems somewhat resigned to it, feeling he's too old to get into a political fight for control and if Panda picks Russo over him, so be it. So that's where things stand right now.
- NJPW CEO Seiji Sakaguchi announced that Kensuke Sasaki will be returning to the company later this month. If you recall, Sasaki announced last month that he was quitting the company over disagreements with management (namely for booking him in a shoot match against Minoru Suzuki and then removing him from it and replacing him with Jushin Liger, neither decision he had any say in and wasn't consulted about). However, Sasaki hasn't confirmed that he's returning to NJPW and some think it may just be wishful thinking by Sakaguchi. Within the company, there's mixed feelings on Sasaki. Some realize he's a big name and they need all the help they can get right now. Others aren't happy with Sasaki over how he left and don't want him back. Sasaki also has issues with IWGP champion Yuji Nagata and has made it clear he doesn't want to put him over anymore. Some real Shawn/Bret vibes here.
- A recent NJPW show saw Yuji Nagata and Masahiro Chono go to a 60-minute time limit draw in a match for the IWGP title. It's only the 2nd time in history that there has been a 60-minute draw for that title. The first was Antonio Inoki vs. Tatsumi Fujinami back in 1988 (to date in 2020, there's only been five total. The aforementioned two matches, Nagata/Nakanishi in 2003, Kojima/Nakamura in 2005, and Omega/Okada in 2017).
- The NJPW TV show prior to the Tokyo Dome show was all about Bob Sapp and holy shit is it something. They had all these campy skits of Sapp going insane at a zoo. Dave says words can't do justice how goofy this was. He was ripping up posts of Nakanishi, cutting promos on elephants, eating straw and bananas (here's the video, from what appears to be a German bodybuilding website which is the only place I could find it. The video is, well.....it's as advertised).
- The promo Curt Hennig cut on TNA this week, where he called DDP "a mark" and talked about taking down Brock Lesnar at 35,000 feet (reference to the Plane Ride from Hell), was all Hennig's doing. A lot of people thought it was Russo, but nope, that was all Hennig. Dave talks about how Hennig has long not particularly cared for DDP. A bunch of the old school wrestlers don't actually, because they remember DDP as the guy from back in the early late-80s AWA days who didn't know anything about the business and they feel like his success later in the 90s was only due to being friends with Bischoff. No doubt his friendship with Bischoff helped, but Dave says the truth is, DDP improved a lot in the ring, turned into a great self-promoter, worked his ass off, and became a bigger star for several years than a lot of the people who hate him. As for the Lesnar line, Dave doesn't comment on that. But from all the Plane Ride From Hell reports at the time, let's just say Hennig's claim about taking Lesnar down ain't exactly how it went.
- The original plan for WWE's upcoming Survivor Series was a Lesnar vs. Hogan rematch, stemming from the angle where Lesnar injured him. However, Hogan has refused to come back just to put Lesnar over a second time so that match isn't happening. The other two choices were between Big Show and Benoit. And, well, when Vince is desperate, he goes with size. So Lesnar vs. Big Show it is. Benoit obviously would be the better match, but neither match is really a big PPV draw, which kinda shows the lack of depth WWE has right now when it comes to legit main event star-power. They're holding off on Angle/Lesnar for now, and don't really have anyone else credible. They seem to be nudging Lesnar into being a babyface, which means he's likely going to be splitting from Heyman soon (yup). Reportedly, during the creative meeting when they were debating between Big Show or Benoit, Vince was frustrated and called Hogan "selfish" for refusing to do the match.
- Talk of a Brock LesnaLennox Lewis match has died off. With Lewis having 3 boxing matches lined up next year, plus a big movie deal he just signed, he told WWE he wouldn't be available until at least fall of 2003, which is a lifetime away in wrestling time. So looks like this probably won't be happening.
- Notes from Raw: opened up with Triple H cutting a never-ending promo about how he escaped the trunk of Kane's car and then made a bunch of necrophilia jokes that got crickets from the crowd, and beat up a blow-up doll corpse. Stacy is managing Test now and they have started calling his fans "Testicles." Randy Orton broke into the show with a RNN (Randy News Network) breaking news update about his shoulder injury recovery. Dave says this is the 2nd week in a row that Orton was the best thing on the show because this was great. They had a storyline going about how Ric Flair wasn't at the show because he was stuck in Charlotte due to bad weather. Triple H called him on the phone and told him he didn't care and wanted him to fly to Raw anyway. So here's the thing: 3 days earlier, Minnesota senator Paul Wellstone and several others died in a plane crash that took off during bad weather. It's pretty much been the top news story in America this week and WWE would have to live in a cave to have not heard about it. Dave doesn't outright accuse them of making reference to that incident, but he also can't fathom how they didn't realize how this would come across. And Kane beat Triple H in a casket match due to Shawn Michaels interference, with Shawn debuting his new little Dutch boy haircut.
- Notes from next week's Smackdown tapings: it's a Halloween-themed show, with a show-long party going on backstage. John Cena was dressed as Vanilla Ice and was rapping and apparently was really entertaining. Can you imagine that getting over? As if. There was an angle backstage where Eric Bischoff kissed Stephanie McMahon and she ended up liking it. Dave always figured this was the inevitable conclusion of this storyline: Bischoff turns Stephanie against Vince and we get another months long McMahons hating each other storyline, this time with Bischoff thrown in (not quite what happens). Dave recaps the results of the matches but, of course, none of this has aired yet.
- Mick Foley was scheduled to be on WWE's Byte This internet show, but he canceled at the last minute over the necrophilia angle. Later in the week, he gave a speech at Southern Illinois University and talked about the angle, saying he can't justify or defend it and said if he went on the show, he would have either had to criticize the company on their own show, which he didn't want to do, or he'd have to be dishonest and try to defend it, which he refused to do. So he just didn't go. Otherwise, Foley still doesn't work for WWE and is doing his own thing right now, writing his book and relaxing. He's said he's open to coming out of retirement under the right circumstances.
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-PM Khan makes it to Foreign Policy magazine's 2019 Global Thinkers list
Prime Minister Imran Khan has been named among Foreign Policy magazine's 2019 list of 'Global Thinkers'. The short writeup on the premier states that Khan, "a former cricket star, finally got the job he had long coveted ─ prime minister"."His reward was an incredibly difficult to-do list, starting with Pakistan's looming fiscal and debt crises," it added.
Prime Minister Khan shares the spotlight with other world leaders including German Chancellor Angela Merkel, former US president Barack Obama and his wife Michelle, New Zealand Prime Minister Jacinda Ardern, and US lawmaker Alexandria Ocasio-Cortez.
-Atletico shoot for football future in Pakistan
Spain´s Atletico Madrid are taking on a challenge tougher than winning La Liga — developing football in cricket-mad Pakistan, where bat and ball are king, pitches come with stumps not goalposts, and even the prime minister is a former World Cup winner. During a recent session at the club´s new facility in Lahore — the country´s first European football academy — a cabal of Spanish coaches watched as a new class of young Pakistani hopefuls fired off penalty kicks.
-National Job Programme to be launched for providing jobs to youth
The National Job Programme will be launched under the Prime Minister’s Youth Programme for providing job opportunities to the educated youth. In this connection Special Assistant to Prime Minister on Youth Affairs Muhammad Usman Dar held a meeting with Gesellschaft für Internationale Zusammenarbeit in Islamabad on Monday to explore avenues of collaboration for the development of an effective National Job Programme.
The special assistant to the prime minister appreciated GIZ for its role in the development of Technical and Vocational Education and Training (TVET) sector in Pakistan. He expressed hope to leverage their expertise in the field for creating better employment opportunities for the youth. The National Job Programme would include vocational training of youth in best Technical and Vocational Training Institutes and their placements in relevant industries to spur national economic growth.
-You Can Even Sleep in This New Luxury Bus Service from Karachi to Quetta
The 9-hour journey between Karachi and Quetta has now been made easier thanks to a newly launched luxury service. ‘Super International’ is aiming to make the experience of traveling on a bus as comfortable as possible. For that, apart from the usual amenities, it offers an onboard sleeping facility. Hence, the company’s slogan ‘Sleep Well, Live Well.” According to details, the bus will depart from Sadar area of Karachi on alternate days throughout the week. The ticket price is still to be confirmed but it will be around Rs. 3,000 per person.
-KSE 100 picks 237 points on foreign inflow news
The benchmark KSE 100 index of Pakistan Stock Exchange surged by 237.27 points or (+0.60%) closed at 39,543 on Monday. Analysts at Arif Habib Limited said that the Market moved upwards on the back of positive news flow on financial support from friendly countries in Gulf, as well as anticipation of China’s support in the offing. Higher international crude prices helped E&P sector to perform better, with OGDC and PPL scoring 4M and 3.1M shares respectively. Besides, expectation of improvement in Core Delta for EPCL, helped stock reach new highs and last half hour’s trading pulled the price back above 41.
-Federal government released Rs 233 billion under PSDP
The federal government has released Rs233.4 billion against the total allocation of Rs675 billion under its Public Sector Development Programme (PSDP) 2018-19 for various ongoing and new schemes. The released funds include Rs86.5 billion for federal ministries, Rs111 billion for corporations, and Rs25.6 billion for special areas, according to a data released by Ministry of Planning, Development and Reform on Monday. Out of these allocations, the government released Rs101.46 billion for National Highway Authority out of total allocation of Rs185.2 billion, whereas Rs9.6 billion have been released for NTDC and PEPCO for which an amount of Rs33.36 billion was allocated under PSDP 2018-19. Similarly, Rs4.6 billion have been released for Communication Division (other than National Highway Authority) for which the government has earmarked Rs13.97 billion under PSDP 2018-19. Railways Division received Rs8.07 billion out of its total allocation of Rs28.06 billion whereas Aviation Division received Rs443.5 million out of total allocation of Rs3.65 billion. The government also released an amount of Rs11.8 billion for various development projects of Higher Education Commission out of total allocation of Rs30.9 billion.
The government also released Rs2.2 billion for National Health Services, Regulations and Coordination Division, for which an amount of Rs10.9 billion have been allocated. An amount of Rs1.44 billion has been released for Finance Division out of its total allocations of Rs12.34 billion and Rs540.68 million have been released for Climate Change Division out of its total allocations of Rs802.7 million for the current year, Rs20.3 million for Human Rights Division, and Rs408.5 million for National Food Security and Research Division.
-Discussions Continue on Economic Bailout Package for Pakistan: IMF
International Monetary Fund (IMF) and Pakistan are continuing discussions for a bailout package. Fitch Solutions stated in its latest report that the latest round of Chinese largesse has given Islamabad the confidence to snub the IMF’s more stringent requirements for obtaining funds. However, should Pakistan experience acute signs of a currency crisis over the coming months, we would not be surprised to see talks between Pakistan and the IMF resume, it added.
-PM Imran Khan holds important meeting with Qatari PM, followed by official dinner
Prime Minister Imran Khan met Prime Minister of Qatar Abdullah bin Nasser bin Khalifa Al Thani at his residence in Doha on Monday. Bilateral relations, with a focus on economic cooperation between the two countries, were discussed during the meeting. The Qatari Prime Minister also hosted a dinner in the honour of Prime Minister and his delegation.
-USD likely to trade in Rs138 and 139 range, positive news expected from Qatar: Malik Bostan
President Forex Association of Pakistan (FAP), Malik Bostan Khan has said that at positive news is expected from the Prime Minister Imran Khan’s visit of Qatar, adding that if Pakistan is able to get deferred payment facility on imported gas from Qatar, the country will sail out of economic crisis in three years. He said Pakistan’s delegation visiting Qatar would also discuss human resource and security exports to Qatar, which will give a boost to remittances.
-Over 3.9 crore children under age of five to undergo polio immunization across Pakistan
The first nationwide polio vaccination campaign of 2019 started across the country on Monday to immunize over 39 million children despite harsh cold weather with continuous rainfall and snowfall on hilly areas. According to an official of National Emergency Operations Centre (EOC), as many as 260,000 front line workers started going door to door across all provinces and towns to ensure more than 39 million children under the age of five receive two drops of the vaccine to protect them against the polio virus.
-Pakistan sees increase in IT exports, government targets $7 billion
The Information Technology (IT) and Telecommunication industry of the country has contributed US $ 540 million foreign exchange to national kitty through exports during first two quarters of this fiscal year 2018-2019. The telecommunication, computer and information services managed to export IT and IT-enabled services worth US $ 540 million, seeing an increase of US $ 20 million as compared to exports figures of same period last year, statistics of State Bank of Pakistan (SBP) revealed. It is pertinent to mention here that Pakistan's IT industry achieved a benchmark of US $ 1.065 billion of exports in last financial year 2017-18.
Federal Minister for Information Technology and Telecommunication Dr Khalid Maqbool Siddiqui Monday said that IT sector would bring a change in the country in future, so it is need of the hour time to digitalize the country. Talking to the media persons during his visit to the Virtual University (VU) here, he said that Pakistan was earning one billion dollars per annum through software development and its volume could be increased up to seven billion dollars per annum in the next five years
Similarly: IT exports fetch $540m in six months
According to Pakistan Software Export Board (PSEB), Pakistan’s IT & ITES-BPO industry comprises more than 2,500 companies, and this number is growing each year. The industry employs over 300,000 English-speaking professionals with many world-class experts in current and emerging IT products and technologies.
-UNGA president acknowledges Pakistan's peace-keeping history
President of the United Nations General Assembly(UNGA), Ms Maria Fernanda Espinosa Monday acknowledged Pakistan’s meritorious contributions to the United Nation peacekeeping missions and termed it one of the largest countries to have contributed to bringing peace in areas marred by insecurity and unrest. Ms Fernanda stated this while interacting with faculty members and students of National University of Science and Technology (NUST) during her visit to the university.
Ms Fernanda, accompanied by Ms Maleeha Lodhi, Permanent Representative of Pakistan to the UN, paid a visit to Centre for International Peace and Stability (CIPS) at NUST. Lt Gen Naweed Zaman, HI (M), (Retd), Rector NUST, along with NUST senior management and faculty received the esteemed guests upon arrival at the main campus. She also lauded NUST for providing peacekeeping training both to local and foreign troops.
-More than 40 World Nations to participate in Pakistan Navy International Exercise
Pakistan Navy will host AMAN 19 exercise in February this year under the slogan of 'Together for Peace'. According to Pakistan Navy , more than forty countries will participate in the exercise. It is aimed at fostering maritime cooperation, promoting safe and security maritime environment for regional and global stability and for preserving oceans which is the common heritage of mankind.
-Gwadar to be made a modern port city
The Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar chaired a meeting to review progress on Gwadar City Master Plan project here on Monday. The meeting was attended by Federal Minister for Maritime Affairs Syed Ali Haider Zaidi, Commander Southern Command, Gen. Asim Saleem Bajwa, Balochistan Provincial Minister for Information Zahoor Ahmed Buledi, Secretary Planning Zafar Hasan and other officials, said in statement issued by Ministry for Planning, Development and Reform.
Director General Gwadar Development Authority, Dr. Sajjad Hussain and Project Director China Pakistan Economic Corridor Hasaan Duad briefed the participants regarding the master plan. It was agreed to develop Gwadar as a modern smart port city, keeping in view the international standards being followed across the globe.
-Top Pakistani company announces completion of mega construction project in Iraq
Attock Cement on Monday announced it had finished civil, mechanical and electrical work on its Iraq project and the cement grinding unit was at commissioning stage. In a notification sent to the Pakistan Stock Exchange (PSX), Attock Cement said it was in the process of obtaining permission for the import of clinker. It added once it got the approval, the company would start the process of import of clinker and thereafter commence trial production.
-European Union to provide 40 Million Euros for Balochistan Water Conservation Projects
European Union and International Union for Conservation of Nature (IUCN) have agreed to work in Balochistan in Water Conservation projects. This was told by EU Ambassador to Pakistan Jean-Francois Cautaian and IUCN Country Representative Mahmood Akhtar Cheema who called on Advisor to Prime Minister on Climate Change Malik Amin Aslam.
Under the agreement European Union will provide forty million Euros and IUCN will provide technical and human resource assistance.The Advisor briefed the delegation about the Ministry of Climate Change performance in environmental protection and conservation and apprised them the" Recharge Pakistan Project " which aims at raising the under water table by conserving flood water in the right and left bank of Indus River reservoirs, that water could be utilised for domestic as well as horticulture purposes.
-Pakistan, Turkey could increase bilateral trade between through FTA
Free Trade Agreement (FTA) between Pakistan and Turkey could potentially increase bilateral trade with direct impact in the emerging geo-political scenario, said Secretary General of The Businessmen Panel (BMP-Federal) and former chairman of FPCCI standing committee Ahmad Jawad on Monday.
-Punjab government to construct tunnel at Baba Guru Nanak birthplace for Sikh Pilgrims
Provincial Minister Human Rights & Minority Affairs Aijaz Alam Augustine Monday said Pakistan Tehreek-e-Insaf (PTI) government had planned the construction of a tunnel from the railway station Nankana Sahib to the birthplace of Baba Guru Nanak to facilitate the Sikh pilgrims. The minister was talking to a delegation of minorities, led by MPA Mahendra Pal Singh, here.
He said that after completion of the project, the Sikh pedestrian pilgrims would be able to reach the birthplace of Baba Guru Nanak more comfortably. He said that under the PTI government, equal opportunities were being provided to the minorities in each sector besides protecting them. He said that provision of special funds for upgradation of the minority communities' worship places, upkeep and protection of their graveyards and their residential areas would be ensured. MPA Mahendra Pal Singh acknowledged the efforts made by the PTI government for the Sikh community.
-$1 billion export opportunity for Pakistan
Chief Executive Officer Pakistan Furniture Council (PFC) Mian Kashif Ashfaq has said Pakistan has great potential to export at least one billion dollars handmade wood furniture annually if the government properly patronizes furniture industry. In a statement, he urged the government to introduce a skill development programme for the export-oriented furniture industry with a view to promoting the country’s value-added sector. He said that a tax exempted furniture sector in Pakistan will enliven the economy in general, create new jobs and increase production level
-Bakhtiar calls for investor-friendly regulations in Gwadar
Planning, Development and Reform Minister Makhdoom Khusro Bakhtiar on Monday called for the provision of basic facilities to uplift Gwadar. He was chairing a meeting in the federal capital to review progress made on the Gwadar Master Plan project. The Gwadar Development Authority director general briefed the meeting about the master plan. It was decided that Gwadar would be made a green, clean and environment-friendly city. The minister instructed the authorities to initiate the process of preparing investor-friendly regulations in order to attract maximum investment in the port city.
-‘Govt taking all possible measures to facilitate private sector’
President Dr Arif Alvi said on Monday that revival of the economy was among his top priorities, adding that the government was committed to taking all possible measures to facilitate businesses. “The government is committed to developing the private sector through investment promotion, improvement in the ease of doing business, employment generation and fast growth of manufacturing sector,” he stated while talking to Amreli Steels Chairman Abbas Akberali.
The president underscored that investment in value-added products, where the country enjoyed a comparative advantage, was vital for economic revival. He said despite all challenges, the incumbent government was striving hard to develop an ecosystem which could attract investment in the country.
-FBR resolved 20% of total tax evasion and fraud cases involving billion of rupees in 2018, unearthed tax evasion worth Rs170 billion throughout Pakistan last year
Around 20% of the overall tax evasion and fraud cases involving billions of rupees have been resolved by the tax department during 2018.
The Director-General Intelligence and Investigation-Inland Revenue department has unearthed tax evasion worth Rs170 billion throughout Pakistan. Moreover, official data regarding these cases shows around 50,000 real estate transactions worth around Rs600 billion at deputy commissioner (DC) rate have been unearthed. However, the market value of these transactions unearthed is possibly going to be higher than the stated amount.
Out of these, around 7,500 transactions included people who were not present in tax rolls. Likewise, cases of people not on the tax rolls who purchased vehicles more than Rs10 million were also unearthed. According to an official, the number of these kinds of people numbers in the thousands in Islamabad alone. And all case reports were forwarded to the Federal Board of Revenue’s regional tax offices (RTOs) and large taxpayers’ units (LTUs) for recovery and execution.
-Govt to install 0.1m digital meters by Feb-end
Federal Minister for Power Omar Ayub Khan has directed electricity distribution companies to immediately undertake GIS (geographic information system) mapping of all 11-kilovolt feeders and replace 100,000 electromagnetic meters with digital meters by the end of February 2019 in order to reduce line losses.
The directives were issued in a meeting with chief executive officers of all the power distribution companies at the committee room of the Power Division on Monday.
The minister directed the CEOs to personally inspect the power transformers of various capacities on a random basis to ascertain their mechanical fitness. He also called for launching a clean-up operation in the highly populated areas and removing hazardous wires and other such things.
-Peshawar airport to commence night-time flight operations after five years
After a gap of five years, Bacha Khan International Airport in Peshawar will start night-time flight operations from January 22. The first flight, after the resumption of 24-hour flight operations, will be to Sharjah. Night flight operations were ceased in 2014 after gunmen fired at a Pakistan International Airlines (PIA) aircraft while it was landing. One passenger was reported dead in the incident while a member of the cabin crew was injured.
Khyber Pakhtunkhwa (K-P) Chief Minister Mahmood Khan was apprised about the plan and has been requested to appear for the inaugural flight. On January 3, the Civil Aviation Authority (CAA) installed a state-of-the-art full body scanner at the terminal to check for smuggling and money laundering.
-Weekly review: KSE-100 index posts gains for third successive week
The stock market had a somewhat decent performance during the outgoing week as the KSE-100 index advanced 258 points or 0.66% to settle at 39,307.
It was the third successive weekly rise, indicating that the cloud of uncertainty that hovered over the market was finally vanishing. The renewed interest was seen ahead of the upcoming mini-budget announcement, hinting that the new finance bill may bring good news for the investors. Expectations of a possible reduction or abolition of advance tax of 0.02% on brokers fuelled positive sentiments at the bourse.
The positivity was evident on first trading day of the week as the benchmark index rallied, following Finance Minister Asad Umar’s reassurances to the business community during his visit to Karachi at the weekend. Additionally, anticipation of measures to improve ease of doing business and reduction in input cost for the export-oriented sector also helped boost sentiments.
-Mazari underscores need for restructuring in Sindh, Punjab police
Underscoring the need for restructuring in Sindh and Punjab police, Minister for Human Rights Shireen Mazari on Monday accused Pakistan Muslim League-Nawaz (PML-N) government of politicizing police. Mazari said that time has come to end the decades of tolerance for killing through encounters. She said that cops involved in Sahiwal shootout should be given exemplary punishment. The minister clarified that Prime Minister Imran Khan had not appreciated the counter terrorism department.