ISLAMABAD: The Asian Development Bank (ADB) under its ‘Supply Chain Finance Programme’ has dedicated $200 million to support companies that make and distribute medicines and other items needed to combat coronavirus in the developing member countries of the Bank.

The programme aims to stabilise the supply chain for products such as N95 marks, test kits, gloves, personal protective equipment (PPE) for healthcare providers, ventilators, hygiene items, and other critical goods.

The ADB assistance is targeted at channeling fund to manufacturers, their suppliers, and the distributors of critical goods through post-shipment post-acceptance finance, pre-shipment loans, and distributor financing.

Export bans of key materials have worsened the shortage of face masks in 22 economies, including Pakistan, Bangladesh, Canada, Czech Republic, Egypt, France, Germany, India, Indonesia, Iran, Japan, Jordan, Kazakhstan, Kenya, Malaysia, Poland, China, the Russian Federation, the Republic of Korea, Taipei, Thailand and Ukraine. The export bans are in place in these economies since March 18.

Pakistan among nations that faced shortage of masks due to ban on export

A $800m increase in ADB’s Trade Finance Programme will also be mobilised and along with the increase in capital comes flexibility to support domestic and cross-border trade in times of emergency. The programme is an effective crisis response vehicle because it has strong relationships with many banks, both inside developing Asia and globally, the latter particularly helpful to mobilise co-financing, involving private sector resources to leverage the impact of ADB’s direct support.

An ADB report says that surging demand, partly joined with panic buying, hoarding, and misuse of PPE amid the Covid-19 pandemic, is disrupting global supplies and putting lives at risk. Demand has surged, overwhelming global production capacity.

The dramatic rise in demand for surgical masks, goggles, gloves, and gowns has depleted stockpiles, prompted significant price increases, and led to production backlogs of 4 to 6 months in fulfilling orders.

The most significant challenge is to ensure that critical PPE products are sourced and allocated to frontline health workers and other responders in affected countries, especially those most vulnerable to the spread of coronavirus.

The global market for PPE in the health sector was estimated to be worth $2.5 billion in 2018. Gloves have the highest share of sales revenues at 25 per cent, followed by suits or coveralls at 22pc. Face masks and hats came in third with a share of 14pc.

By region, the United States had the largest market share (33pc), followed by Asia and the Pacific (28pc), and Europe (22pc) in 2018.

The PPE supply chain has not been properly functioning to meet a surge in demand due to the constraints in production and logistics. Prices of PPE products have risen dramatically since the beginning of the Covid-19 outbreak: a six-fold increase for surgical masks; threefold for respirators; and a doubling in the price of gowns.

Among the major sources of the identified backlogs in the production and distribution of PPE, with a focus on face masks, are transport and shipping constraints caused by roadblocks and quarantine measures, and lower availability of transportation and freight containers, hoarding, profiteering, and limited workforce capacity due to illness, also contribute to the shortage.

Published in Dawn, May 10th, 2020

ISLAMABAD: The Federal Board of Revenue (FBR) has drafted tax proposals for Budget 2020-21 mainly focusing on “simplification of laws and removing tax anomalies,” Dawn has learnt from knowledgeable sources.

Unconfirmed reports are that the government is likely to announce a ‘tax-free budget’, an official in the FBR told Dawn, adding a final decision will be taken after consulting with the International Monetary Fund (IMF) after Eidul Fitr.

Also read: Govt, IMF agree to put on hold $6bn programme

Meanwhile, Finance Adviser Abdul Hafeez Shaikh has already termed the next year budget a ‘corona-budget’.

It will depend on the IMF whether it considers Pakistan’s proposal to lower tax target for TY21. The Fund had proposed a tax target of Rs5.1 trillion for the next year, which is higher by 30pc from the FY20’s proposed collection.

Consultation with IMF after Eidul Fitr

For the current year, the IMF has lowered the FBR tax target to Rs3.9tr, from Rs4.8tr to subside the impact of Covid-19 on businesses. However, achieving this benchmark also depends on the revival of activity before and after Eid and the entire June, the official added.

Another senior tax official told Dawn that the Fund officials meeting with Pakistani economic team will determine the direction of the next budget whether it will be tax-free or have some taxation to achieve the following year’s target.

The official said the FBR has already completed its homework on budget proposals for the next year and is currently working on identifying anomalies that should be removed.

“We are also working on simplification of tax laws to facilitate taxpayers,” the official said.

At the same time, the FBR is also engaging all stakeholders to identify problems related to taxation for redressal. “We will also consider tax incentives in the next budget for some sectors to help them revive their business,” they added.

Some of the proposals on the table from stakeholders are the revival of zero-rating for the five export-oriented sectors, allowing lower rates of sales tax on domestic sales of textile, clothing, waiver of CNIC conditions for traders and reducing the sales tax rate to 5pc from 17pc. “These are the demands of the stakeholders,” the official said.

Tax officials privy to budget-making said the FBR will try to avoid the introduction of new tax measures but will defend the continuation of those already in place. “It will be best to preserve our existing tax measures for now and see onward in the year how it progresses,” the officials commented.

At the moment, the focus is on the ease of doing business and facilitating taxpayers through information technology support. As the economy will revive, the FBR will support any new taxation proposals, they continued.

However, a senior tax official said the FBR cannot do away with maximum existing tax measures. “We need money for running the government machinery,” he said, adding other measures like printing of notes will add to inflationary pressure in the country.

The FBR has already worked out the impact of ongoing lockdown and closing down of businesses on the country’s revenue collection. The IMF has approved the incentive package for the construction sector on the request of Prime Minister Imran Khan to create employment.

“We are under an IMF programme so all budget proposals will be discussed with them,” the official said.

The FBR estimates a revenue loss of Rs450 billion in the first quarter (July-September) of next fiscal year in case the partial lockdown remains. It further projects that in case the partial lockdown extends, the tax body will see another shortfall in revenue realisation to the tune of Rs350bn.

According to the official, the FBR will try to recover some portion of the shortfall in the second half of the year. However, the government will have no other options but to seek a loan to bridge revenue shortfall. “You cannot bridge such a huge gap with new tax measures,” the source said.

Moreover, the FBR estimates also show that imports will remain on the lower side in the first half-year and so is the case of exports until orders revive. The domestic economy will revive to some extent while revenue collection from the services sector will be much lower from last year’s level.

Published in Dawn, May 10th, 2020

Palo Alto, CA – Aha by HARMAN™ today announced that the new 2014 Mazda3to be launched in North America and Europethis fall will offer access to Aha's free service withthe ability to select presets from more than 40,000* audio and information stations.

CHICAGO, IL –HARMAN and Hyundai Motor America today announced the 2015 Genesis will offer the Aha Radio service in the North American market. Aha Radio will be a part of the next generation infotainment systems also debuting in the 2015 Genesis. Hyundai Motor America has integrated the Aha Radio service into Genesis to give its U.S. drivers the ability to access over 100,000 music, entertainment and news stations as well as location-based services in an intuitive manner using their connected iPhone.

CES 2015, LAS VEGAS – HARMAN, the premium global audio, infotainment and enterprise automation group (NYSE:HAR), introduces its enhanced Harman Kardon AVR 1x1 Series with the additions of Spotify Connect in all models and HDMI 2.0 in the two top models. The AVR 1x1s series, which includes Harman Kardon® AVR 1510, AVR 1610 and AVR 1710, was released last year and stands unprecedented in its versatility, quality and efficiency. Each Harman Kardon AVR 1x1s features the brand's iconic styling and unmatched sound reproduction and offers enhanced support for streaming and external devices.

It's hard to classify what Samsung's Galaxy Note 2 is because it generally requires two hands to use and has a 5.5-inch display. But it fits in a front pants pocket and makes voice calls. Here's our first look!

Google’s newest Chromebook, made by Samsung, only costs $249 and offers the same general performance of ChromeOS is a smaller, lighter package. How’d they do it? This model uses the same chip type that powers smartphones and tablets. Take a look at my hands-on thoughts.

Sony Corp will delay sales of the PlayStation 4 gaming console in China, originally scheduled for Jan. 11, due to "various factors", the company said in a statement on Thursday.

* PM Johnson to detail Britain's next steps on Sunday (Adds comment from transport minister, Balpa, updated death toll)

Brazil's Economy Minister Paulo Guedes on Saturday said the country's central bank is likely to shower the economy with money in case of a depression due to the coronavirus pandemic.

Nintendo Servers look to be down this evening with many users receiving a 2219-2502 Error on Nintendo Switch

Apex Legends might finally be getting a mobile version, at least that's what EA's latest financial briefing seems to suggest

The skywatching event lasts about a week, with the best views arriving before dawn on Tuesday.

The name of this month's full moon comes from the blooms that appear in North America around this time of year.

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आठ हजार मजदूर राजस्थान से आए, पांच हजार मथुरा में रुके हुए थे

पिछले 9 दिनों में 8 राज्यों के 20 ग्रीन जिलों में 283 कोरोना संक्रमित मरीज सामने आ चुके हैं। कुछ राज्यों में तो इसी अवधि में संक्रमितों की संख्या 50 फीसदी से भी ज्यादा बढ़ोतरी हुई है।

कोरोना वायरस को फैलने से रोकने के लिए दुनियाभर में लगी यात्रा पाबंदियों के कारण ब्रिटेन में फंसे 326 भारतीय नागरिकों का पहला समूह लंदन से शनिवार देर रात मुंबई पहुंचा।

दो-तीन दिनों में सभी मजदूरों को श्रमिक स्पेशल ट्रेन से प्रतापगढ़ लाया जाएगा। 

भारत ने अभी तक पुरूष वर्ग में पूर्ण कोटा और महिला वर्ग में एक व्यक्तिगत स्पर्धा का कोटा हासिल किया है। 

श्रीनगर में एक अस्पताल की दो नर्स व एक तीमारदार समेत कोरोना के और 12 मरीज शनिवार को सामने आए।

You could take it slow, or you could use these cheats to be swimming in riches, ammo, and more.

Priscilla Bienkowski, 18, and Sophia Hernandez, 17, have been missing since Wednesday when they were tubing on Utah Lake.

Natasha Atchley, 19, was found dead in the trunk of her burned out Chevy Camaro hatchback on May 3, 1992, in Shephard, Texas, about a mile down a rural dirt road from a party she attended the night before. The Texas Ranger Unsolved Crimes Investigation Team is investigating.

Kicks, punches and grunts echoed through the empty arena. Coaches, commentators and camera clicks resonated like never before. Blood, sweat, swollen eyelids and face masks signaled the return of UFC, the first major sporting event to resume since the coronavirus shuttered much of the country for nearly two months.

Kicks, punches and grunts echoed through the empty arena. Coaches, commentators and camera clicks resonated like never before. Blood, sweat, swollen eyelids and face masks signaled the return of UFC, the first major sporting event to resume since the coronavirus shuttered much of the country for nearly two months.

कोरोना संकट के चलते बीते 46 दिनों से बंद औद्योगिक क्षेत्र दादानगर में बहुत कुछ बदल गया है। यहां की फैक्ट्रियां, सड़कें, गलियां और पार्क रौनक लौटने की बाट जोह रहे हैं।

may weekly rashifal: इस सप्ताह (11 से 17 मई, 2020) में ग्रह गोचर एवं योगों का प्रभाव कैसा रहेगा। इसका ज्योतिषीय विश्लेषण...

शनि 11 मई, सोमवार से अगले 142 दिनों के लिए मार्गी से वक्री होने जा रहे हैं।

कोरोना संक्रमितों की संख्या तेजी से बढ़ती ही जा रही है। रविवार को पांच नमूनों की रिपोर्ट आई। जिसमें कोरोना के दो नए पॉजिटिव मामले सामने आए हैं।

श्रमिक स्पेशल ट्रेन कोरोना महामारी के चलते देशभर में हुए लॉकडाउन के बीच गुजरात में फंसे उत्तर प्रदेश के करीब 50 जनपदों के 1259 श्रमिकों को लेकर अलीगढ़ जंक्शन रेलवे स्टेशन पहुंची।

चिकित्सक मां के लिए लिखी कविता, टिफिन बनाकर दे रहे

लॉकडाउन में महिला पुलिसकर्मी खाकी के साथ ममता का भी फर्ज निभा रही हैं।

जिंदगी में हर पल दुश्वारियां और ठोकरें। बड़ी से बड़ी विपत्ति आई पर वे टूटीं नहीं। बल्कि संघर्ष की बदौलत अग्निपथ पर चलती रहीं।

The MasterClass of our dreams.

केंद्रीय माध्यमिक शिक्षा बोर्ड, सीबीएसई ने हाल ही में 10वीं और 12वीं के बचे हुए विषयों की परीक्षाओं की तिथि एक से 15 जुलाई तय की है।

नारी शक्ति अब बेटियों का अस्तित्व बचाने को समाज में आगे आ रही हैं।

mothers day 2020 bake cake for mom with these easy recipes

The police officer who fatally shot 12-year-old Tamir Rice in a Cleveland park in November 2014 has been fired, Cleveland's police chief said at a press conference on Tuesday. The decision comes two and a half years after Rice was killed. Officer Timothy Loehmann was fired not for shooting Rice but for lying on his job application about his disciplinary record at a previous police department, according to the termination documents. (Another officer who had been on the scene of the shooting was suspended for 10 days.)

Loehmann, who started working for the Cleveland Police Department in early 2014, failed to disclose that although he voluntarily left his job at another department, he was allowed to resign after a series of incidents in which supervisors deemed him unfit for duty, according to Cleveland.com. He also did not disclose that he had failed a written exam for employment at a second police department.

Loehmann shot Rice after he and his partner responded to a 911 call about a person in a park waving a gun. His death became an early touchstone for the Black Lives Matter movement. Video of the shooting showed that Loehmann shot the child, who was holding a toy pellet gun, within two seconds of arriving on the scene. A grand jury declined to charge the officers involved.

A dispatcher who took the initial 911 call was suspended in March for failing to tell the responding officers that the caller had said the person with the gun might be a juvenile and that the gun could be fake. A June 2015 Mother Jones investigation revealed how that failure contributed to the child's  death.

आज पूरी दुनिया में मदर्स डे मनाया जा रहा है। मां के साथ बिताया हर दिन हम सभी के लिए बेहद खास होता है। फिल्म में भी मां और बच्चों के बीच के रिश्ते को हमेशा से काफी खास तरीके से पेश किया जाता रहा है।

बॉलीवुड सितारे भी मदर्स डे को बेहद खास अंदाज में मना रहे हैं। ऐसे कई सितारे हैं जिन्होंने अपनी मां की तस्वीर सोशल मीडिया पर साझा कर उन्हें याद किया।

बोस एक बंगाली क्रांतिकारी थे। जो अंग्रेजों के वफादार के तौर पर नजर आते थे लेकिन चुपके से उन्हें भारत से हटाने की कोशिशों में जुटे हुए थे।

चलिए आगे की स्लाइड में ऐसी ही सिंगल मदर्स के बारे में बताते हैं जिनके बारे में जानकर आपको भी गर्व होगा।

वैश्विक महामारी कोरोना वायरस से निपटने के लिए लगाया गया लॉकडाउन जारी है। आज लॉकडाउन 3.0 का सातवां दिन है। वहीं, देशभर में संक्रमित मरीजों की संख्या में लगातार बढ़ोतरी हो रही है

देश की सबसे बड़ी घरेलू एयरलाइन इंडिगो ने शनिवार को साफ कहा है कि उसके वरिष्ठ कर्मचारियों की सैलरी में 25 फीसदी की कटौती पूरे वित्त वर्ष 2020-21 के लिए लागू रहेगी।

जफरुल इस्लाम खान को 12 मई तक उस लैपटॉप या मोबाइल को जमा करने को कहा गया है, जिससे उन्होंने सोशल मीडिया पर आपत्तिजनक पोस्ट शेयर किया था।

राजधानी दिल्ली में कोरोना वायरस की स्थिति बेहद चिंताजनक हो गई है। कोरोना संक्रमित मरीजों की संख्या साढ़े छह हजार पार हो चुकी है। यहां पढ़ें दिल्ली में कोरोना वायरस से संबंधित हर अपडेट-

Microsoft this week revealed the new Microsoft Surface Go 2 and Surface Book 3 convertible tablet PCs. Microsoft Surface Go 2 Microsoft’s Surface Go fills the role of an affordable tablet PC that can run the full Windows 10 operating system. Its lower pricing was especially attractive to the education and front-line sectors. The Surface…