SHC restrains Chief Collector Appraisement South, Coercive encashment of securities

KARACHI: The respondent officials of Pakistan Customs including Chief Collector, Appraisement South, Director General and Director (Valuation) were restrained by a customs appellate bench of High Court of Sindh from encashing securities/cheques deposited with respondents against provisional release of consignments. The bench comprising Justice Muhammad Junaid Ghaffar and Justice Mahmood… Continue reading

SECP proposes amendments in Securities and Futures Advisors (Licensing & Operations) Regulations

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments in Securities and Futures Advisors (Licensing & Operations) Regulations, 2017 to propel the initiatives of the Commission for broadening investor base and enhancing outreach of capital market. Through these amendments, the SECP has proposed to allow individuals to… Continue reading

SHC allows release of securities

KARACHI: The release of provisional securities was ordered here on Tuesday by a division bench of High Court of Sindh comprising Justice Aqeel Ahmed Abbasi and Justice Arshad Hussain while hearing a petition filed by Hilal Weaving Factory. The petitioner moved the court for implementation of a order in original… Continue reading

SHC allows suit, orders release of securities

KARACHI: Justice Junaid Ghaffar of High Court of Sindh (SHC) on Thursday allowed a suit filed by Gillani traders which imported home appliances including hair straightner, vaccum cleaners etc. The Director General Valuation enhanced the valuation rate which was challenged by the importer before Special Customs Appellate Tribunal which ruled… Continue reading

Non-filers to pay more CGT on securities

KARACHI: The federal government has increased the rate of capital gains tax (CGT) on disposable of securities for non-filers, while rates are kept intact for filers. Finance Bill 2016 proposes for tax year 2017, the rate of CGT will remain 15 percent on securities held for less than a year,… Continue reading