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Tag Archives: Supreme Court

NAB recovers Rs19.5m from Sun City housing developer

ISLAMABAD: The National Accountability Bureau (NAB) has recovered Rs19.5 million from the management of a Rawalpindi-based housing developer for allegedly cheating their customers. According to sources, Sun City Pakistan CEO Syed Ali Murtaza had submitted a Rs30 million Voluntary Return application under Section 25 (a) of the National Accountability Ordinance, 1999 to the NAB which was accepted and the accused ... Read More »

Cess – in the name of development

In its effort to collect funds for infrastructural development, the government promulgated the Gas Infrastructure Development Cess (GIDC) Ordinance, 2014 last month despite the fact that the Supreme Court had earlier stopped the collections of funds under a similar law in 2011. The current ordinance has been issued to give a legal cover to the collection of funds from industrial ... Read More »

Drug trafficker sentenced to death, others awarded imprisonment

ISLAMABAD: At least 306 suspects, who were arrested by the Anti-Narcotics Force (ANF) this year, are likely to be convicted for their involvement in drugs trafficking. The Supreme Court and high courts have disposed of 314 appeals related to the drug trafficking during the same period. The documents available with Customs Today revealed that only one alleged drug trafficker was ... Read More »

Customs to prepare penal surcharge against Dewan Cement

KARACHI: The Appraising Intelligence Branch (AIB) of the Model Customs Collectorate of Appraisement-West is going to prepare “penal surcharge statement” against the importer Dewan Cement Limited (Pakland Cement) in its alleged involvement in tax/duty evasion. The AIB sources informed Customs Today that the department after the verdict of Supreme Court of Pakistan (SCP) has started to prepare penal surcharge statement ... Read More »

FBR shouldn’t accept officers from other departments: Arshad Shah

ISLAMABAD: Federal Revenue Alliance Employees Union CBA-FBR has demanded the Federal Board of Revenue (FBR) stop induction of officers from other government departments and urged that appointments should be carried out from within the FBR. Moreover, the union also demanded allowance for employees on Eid. FRAEU spokesman and Information Secretary Arshad Shah, while talking exclusively to Customs Today, said that ... Read More »

Suspension of GIDC collection: Ordinance to nullify SC verdict

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that the government is going to promulgate an ordinance to nullify the Apex Court’s verdict which suspended collection of Gas Infrastructure Development Cess (GIDC) worth Rs145 billion in the current fiscal year. He said that the government had appealed against the Supreme Court decision and it would go ... Read More »

Opening: KSE remains buoyant, gains 250 more points

KARACHI: Though political scenario remains hazy, stocks continue to capitalize on the developments taking place in the federal capital as Karachi Stock Exchange KSE-100 index roared past the overnight gains and added another 250 points or 0.86 percent to touch 29,510 in early trading on Wednesday. The market opened with positive sentiments and kept on marching upward, giving boost to ... Read More »

Midday: KSE firms gains, up 485 points amid stiff politicking

KARACHI: The Karachi Stock Exchange’s benchmark KSE-100 on Tuesday consolidated its upward march and gained 485 points or 1.70 percent to reach 28979.47 in the midday trading, defying the prevailing bleak political scenario triggered by the ongoing sit-ins and subsequent police-protesters clashes at Red Zone in the federal capital. Despite gloom and doom prevailed across the political spectrum, the KSE-100 ... Read More »

Mobile phone companies deposit Rs162,149m GST in five years

ISLAMABAD: Mobile phone companies have deposited Rs 162,149 million on account of GST during the last five years. Cellular companies paid highest Rs 43,202 million in 2011 and the lowest Rs 16,930 in 2013. According to official data available with this scribe, cellular operators deposited total Rs 162,149 on account of GST during last five years up to April 2014. ... Read More »

KSE hits all-time high of 30413.23 points

Karachi Stock Exchange (KSE) closed at 30413.23 all time high amid higher trades after SBP mentioned improving economic conditions. KSE 100 index end the day at 30413.23 points compared to 30224.89 points of the last working day on Friday. Moreover, with an immense increase of Rs 42 billion, total capital of market cross Rs 7.100 trillion, and trade share was ... Read More »

FBR seeks law ministry to remove futile solicitors

ISLAMABAD: Federal Board of Revenue (FBR) sought Law Ministry’s advise to remove lawyers with poor performance for proceeding of its pending cases in courts. As per details, FBR asked Law ministry to handover performance report of lawyers who were preceding the FBR cases in courts. FBR has decided to remove the solicitors showing poor performance adding that only capable lawyers ... Read More »

Pending Cases: FBR to request courts for timely decisions

ISLAMABAD: Federal Board of Revenue (FBR) has decided to file an application to apex and high courts through Law Ministry for timely decision of pending cases to avoid billions of rupees revenue loss. As per details, FBR decided to request the apex and high courts to devise a strategy to early solve FBR cases to end the legal war, costing ... Read More »

2,350 pending cases in apex courts cost Rs 200b to national exchequer

ISLAMABAD: Over 2,350 cases have been pending in apex courts costing Rs 200 billions to national exchequer. “Increasing misunderstanding of revenue laws, flexibility of some laws and trivialization of cases are some of the main factors responsible for pendency of these cases”. As per details, over 1550 cases in Honourable Supreme Court and about 800 cases in High Courts making ... Read More »

Illegal appointments at Port Qasim: SC disposes of contempt of court plea

ISLAMABAD: Supreme Court (SC) has disposed of contempt of court plea filed by Abdul Jabbar Memon on non-implementation of court orders in connection with illegal appointments at Port Qasim. Chairman Port Qasim Authority (PQA) Agha Jan Akhtar appeared in the court in person and said in his written statement that 97 staff members and 7 top officers have been sacked. ... Read More »