News stories for Hamid Waleed - Business Recorder

Hamid Waleed

Tax administration's discreationary powers lead to litigation, opine experts

Entering and searching property of taxpayer to seize material, including record, accounts, documents and computer etc., without due diligence is a negation of the fundamental right of taxpayers. According to tax experts, the discretionary attitude of tax

Published 16 Sep, 2019 12:00am

Disconnections: Lesco issues notices to 57,700 industrial, commercial consumers

The Lahore Electric Supply Company (LESCO), in collaboration with the Corporate Regional Tax Office (CRTO) Lahore, has issued notices to industrial and large commercial consumers for disconnection of supplies in case they failed to get National Tax Number

Published 14 Sep, 2019 12:00am

Businesses: Forceful monitoring by FBR staff inflicts negative impact

Entering of the field formation staff of the Federal Board of Revenue (FBR) to business premises and forceful monitoring of stock, production and supply of manufactured goods without any prior intimation, notice or any show-cause notice has inflicted a ne

Updated 11 Sep, 2019 06:25am

Lesco and SNGPL consumers: RTO Lahore issues 63011 sales tax registration letters/notices

The Regional Tax Office-II, Lahore has issued 63011 sales tax registration letters/notices to industrial and commercial connection holders of LESCO and SNGPL. Chief Commissioner, RTO-II, Lahore Ahmad Shuja Khan said that influx of new sales tax registrati

Published 05 Sep, 2019 12:00am

Lesco bans installment facility for commercial, industrial bills

The Lahore Electric Supply Company (Lesco) has banned the facility of installments on commercial and industrial bills while the domestic consumers would only be allowed installments up to 31st of August, said the sources.

Published 24 Aug, 2019 12:00am

Sindh PA outranks other assemblies: PILDAT

In a PILDAT comparative assessment of performance of Pakistan's four provincial assemblies in their first year after the 2018 general election, the provincial assembly of Sindh has outranked other provincial assemblies in holding sessions for most days du

Published 10 Aug, 2019 12:00am

Lesco charges 17 percent GST from zero-rated industry sans notification

The Lahore Electric Supply Company (Lesco) has charged 17 percent GST to zero-rated industrial consumers of electricity without tariff notification/direction by the government to withdraw the facility of zero rating and charge GST from them. The Lesco sta

Published 19 Jul, 2019 12:00am

Markets

Uncertainty regarding taxes brings market activities to halt

Prevailing uncertainty regarding imposition of taxes has brought market activities to a halt, as market sources are of the view that small and medium traders are clueless and totally blank with regard to new tax regime. Major retail chains have some idea

Published 16 Jul, 2019 12:00am

Denied promotion: IESCO officer commits suicide

A senior officer of the Islamabad Electric Supply Company (IESCO) committed suicide after he was dropped from promotion by the PEPCO Promotion Board. According to reliable sources, Raja Nasir Abbas, Superintending Engineer in IESCO, committed suicide on 8

Published 11 Jul, 2019 12:00am

New taxation step, tariff hike impedes revival of closed industrial units

New taxation and tariff hike have halted revival of closed industrial units, expansion of present setups and new investments, according to power sector experts. They also noted that partially operating units have also come to a halt. They said that provis

Published 10 Jul, 2019 12:00am

Markets

Five exporting sectors urge FBR to formalise 'informal' trade

The five exporting sectors circles have urged the Federal Board of Revenue (FBR) to formalize informal trade in domestic commerce as only 50 percent of domestic commerce is being fed by the local industry and remaining 50 percent is the share of informal

Published 06 Jul, 2019 12:00am

Government flouts Nepra Act by delaying issuance of tariff notification

The federal government has violated NEPRA Act by delaying in issuance of tariff notification for distribution companies, causing concerns amongst consumers especially the industrial consumers for their inability to take a decision on fresh investments.

Published 05 Jul, 2019 12:00am

Tier-1 category: Retailers demand exclusion of shops measuring 4,000 sqft

Retailers have proposed the government to exclude the shops measuring up to 4,000 square feet from the definition of tier-1 retailers till the time when majority of whole sellers and distributors got registration under Sales Tax Act, 1990. By virtue of su

Published 22 Jun, 2019 12:00am

Banks' sharing of account details with FBR: Experts term move significant development

Tax experts have termed sharing of details of accounts by the banks with the Federal Board of Revenue (FBR) as a significant development, saying that tracing out the actual owners of the accounts would be helpful in detecting benami transactions.

Published 21 Jun, 2019 12:00am

Markets

Tax experts suggest amendments in refund rules

Tax experts proposed Monday that the law/refund rules need to be appropriately amended to provide for refund with the filing of monthly sales tax return as the export data/evidence is readily available with the customs authorities.

Published 18 Jun, 2019 12:00am

Amendments proposed in ST & FED discussed

The second session of Post Budget Conference 2019 held at a local hotel, which covered the topic of indirect taxation with main speaker Asim Zulfiqar Ali, FCA. Rana Muhammad Usman Khan moderated the session while the panelists included Naeem Akhtar Sheikh

Published 16 Jun, 2019 12:00am

Judiciary being pressurised: Bilawal

Pakistan People's Party (PPP) Chairman Bilawal Bhutto-Zardari said on Satu-rday that judiciary is being pressurised and attacks on judiciary are being made under a conspiracy. He said there would no difference in dictatorship and democracy if institutions

Published 16 Jun, 2019 12:00am

Judiciary being pressurised: Bilawal

Published 16 Jun, 2019 12:00am

Budget 2019-20: Punjab allocates Rs 350 billion for ADP

The Punjab government has presented Rs350 billion Annual Development Programme (ADP) for the financial year 2019-20 as a key policy instrument to execute the development vision, meet policy objectives and achieve development targets set by the government.

Published 15 Jun, 2019 12:00am

Punjab government adopts aggressive resource mobilisation strategy for FY 2019-20

In a major break from the past, the Punjab government has adopted an aggressive resource mobilization strategy for next financial year. Revenue mobilization measures proposed in the budget include proposal for revision in the rates of land based Agricultu

Published 15 Jun, 2019 12:00am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 30	279.17
USD PKR Interbank Buying / Jan 30	278.97
USD to Japanese Yen / Jan 30	154.32
USD to Swiss Franc / Jan 30	0.91
Pound Sterling to USD / Jan 30	1.24
Euro to USD / Jan 30	1.04

Stock	Volume
S&P 500 / Jan 30	6,071.17
India Sensex / Jan 30	76,759.81
Tokyo Nikkei / Jan 30	39,513.97
Nasdaq / Jan 30	19,681.75
Hang Seng / Jan 30	20,225.11
FTSE 100 / Jan 30	8,646.88
Dow Jones / Jan 30	44,882.13
Germany DAX 30 / Jan 30	21,727.20

Item	Value
Crude Oil USD/Barrel / Jan 30	72.99
Karachi Cotton PKR/37.32 KG / Jan 30	18,285
Gold 10 Grams PKR / Jan 30	248,885
Gold Spot USD/Ounce / Jan 30	2,849.50
Cotton US¢/pound / Jan 30	66.27
Petrol/Litre / Jan 31	256.13

Gainers
Losers
Leaders

Stock	Price
Chenab Ltd / Jan 30 Chenab Limited(CHBL)	9.08 ▲ 1 (12.38%)
Kohinoor Ind. / Jan 30 Kohinoor Industries Limited(KOIL)	9.26 ▲ 1 (12.11%)
PICIC Ins.Ltd. / Jan 30 PICIC Insurance Limited(PIL)	2.52 ▲ 0.23 (10.04%)
Redco Textile / Jan 30 Redco Textiles Limited(REDCO)	21.97 ▲ 2 (10.02%)
Sana Ind / Jan 30 Sana Industries Limited(SNAI)	28.77 ▲ 2.62 (10.02%)
I.C.C. Ind. / Jan 30 ICC Industries Limited(ICCI)	14.29 ▲ 1.3 (10.01%)
Ashfaq Textile / Jan 30 Ashfaq Textile Mills Limited(ASHT)	17.48 ▲ 1.59 (10.01%)
Ahmad Hassan / Jan 30 Ahmad Hassan Textile Mills Limited(AHTM)	59.90 ▲ 5.45 (10.01%)
Atlas Honda Ltd / Jan 30 Atlas Honda Limited(ATLH)	873.29 ▲ 79.39 (10%)

Stock	Price
Tariq Corp.Pref. / Jan 30 Tariq Corporation Limited-Preference Shares(TCORPCPS)	6.91 ▼ -0.97 (-12.31%)
First Capital Equities / Jan 30 First Capital Equities Limited(FCEL)	5.21 ▼ -0.68 (-11.54%)
National Silk / Jan 30 The National Silk & Rayon Mills Limited(NSRM)	45.35 ▼ -5.04 (-10%)
Blue-Ex Ltd / Jan 30 Blue-Ex Limited (GEM)(GEMBLUEX)	55.40 ▼ -6.15 (-9.99%)
Kohat Textile / Jan 30 Kohat Textile Mills Limited(KOHTM)	32 ▼ -3.13 (-8.91%)
Hussain Industries / Jan 30 Husein Industries Limited(HUSI)	26.41 ▼ -2.45 (-8.49%)
Trust Sec.& Brok. / Jan 30 Trust Securities & Brokerage Limited(TSBL)	13.60 ▼ -1.14 (-7.73%)
JS Investments / Jan 30 JS Investments Limited(JSIL)	21.02 ▼ -1.74 (-7.64%)
Universal Ins. / Jan 30 The Universal Insurance Company Limited(UVIC)	9.13 ▼ -0.67 (-6.84%)

Stock	Volume
Sui South Gas / Jan 30 Sui Southern Gas Company Limited(SSGC)	48,078,930 ▲ 2.48
Waves Home Appliances / Jan 30 Waves Home Appliances Limited(WAVESAPP)	33,126,010 ▲ 1.16
Bank Makramah / Jan 30 Bank Makramah Limited(BML)	31,438,642 ▲ 0.23
Cnergyico PK / Jan 30 Cnergyico PK Limited(CNERGY)	31,197,761 ▲ 0.13
K-Electric Ltd. / Jan 30 K-Electric Limited(KEL)	29,670,310 ▲ 0.13
Citi Pharma Ltd / Jan 30 Citi Pharma Ltd.(CPHL)	25,413,292 ▲ 2.73
Dewan Motors / Jan 30 Dewan Farooque Motors Limited(DFML)	24,726,221 ▼ -1.63
WorldCall Telecom / Jan 30 Worldcall Telecom Limited(WTL)	20,794,723 ▲ 0.02
Fauji Cement / Jan 30 Fauji Cement Company Limited(FCCL)	13,308,955 ▲ 0.1

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