News stories for Dr Ikramul Haq

"The raison d'être of establishing special tribunals has been to dispense better quality of justice where people, better trained in particular fields and disciplines could provide quality decisions and resolution of disputes... . Appointing members to the

Published 24 Jan, 2020 12:00am

Opinion

A rejoinder

In response to our article (Unconstitutional taxation by provinces, Business Recorder, January 3, 2020), a letter was published on January 9, 2020 titled 'Unconstitutional' taxation by provinces: SRB's response' that raised some questions and made a few o

Published 17 Jan, 2020 12:00am

Opinion

The corrupt, tax cheats, 'secrecy' & RTI - II

The passing of Foreign Assets (Declaration and Repatriation) Act, 2018, the Voluntary Declaration of Domestic Assets Act, 2018, promulgation of the Assets Declaration Ordinance, 2019 and later enacted as the Assets Declaration Ordinance, 2019 as part of F

Updated 13 Jan, 2020 07:10am

Opinion

The corrupt, tax cheats, 'secrecy' & RTI - I

2020 has started and apparently everyone has forgotten what the Supreme Court desired in Suo Muto Case No. 2 of 2018, started on February 1, 2018, and what happened thereafter. The last hearing in this case, which is still pending, was held on January 14,

Published 10 Jan, 2020 12:00am

Opinion

'Unconstitutional' taxation by provinces

The imposition of any kind of legislation that include levy of any tax or duty, cess etc having extraterritorial impact and involving entities operating on trans-provincial levels by any provincial assembly is patently against Article 141 of the Constitut

Published 03 Jan, 2020 12:00am

Opinion

Federalisation versus centralisation: 2020: Year of road to prosperity

The Chairman of Punjab Revenue Authority (PRA), while addressing a conference on 'Ease of doing business in Pakistan: a case for tax harmonisation', organised by the Sustainable Development Policy Institute (SDPI) in Islamabad on December 6, 2019 reported

Updated 27 Dec, 2019 08:45am

Opinion

2020: main fiscal challenges

"An unusual decline in revenue collection and steep rise in current expenditures caused a deterioration in all major fiscal indicators during FY19. The overall budget deficit during the year stood at a historic high of 8.9 percent of GDP, which was also i

Updated 20 Dec, 2019 04:57am

Opinion

World Bank-funded tax reforms

The World Bank (WB), in an appraisal paper related to Pakistan Raises Revenue (PRR) has termed "vested interests lobbying for tax exemptions, internal tensions and wariness of change among the Federal Board of Revenue (FBR) staff, and potential disputes a

Published 13 Dec, 2019 12:00am

Opinion

FY19: FBR's dismal performance - II

Wholesale and retail trade sectors together paid Rs 48.2 billion: Large retail trade (Rs 7.9 billion), small retail trade (Rs 9.7 billion) and wholesale trade (Rs 25.1 billion).

Published 11 Dec, 2019 12:00am

Opinion

FY19: FBR's dismal performance - I

An unusual decline in revenue collection and a steep rise in current expenditures caused a deterioration in all major fiscal indicators during FY19. The overall budget deficit during the year stood at a historic high of 8.9 percent of GDP, which was also

Updated 06 Dec, 2019 07:21am

Opinion

Challenges on judicial front

The judiciary worked tirelessly to provide justice to the people with less resources. 3,100 judges worked hard and decided 3.6 million cases in a year. Judiciary decides all the cases on merit and does not differentiate between the rich and poor-Chief Jus

Updated 29 Nov, 2019 07:17am

Opinion

Flawed tax reforms agenda - II

In fiscal year 2018-19, total payment, as per budget documents, on account of debt servicing, was Rs 1,987 billion against the budgeted figure of Rs 1,620 billion. Allocation for the current fiscal year is Rs 2,891 billion, 78 percent higher than last yea

Updated 21 Nov, 2019 07:03am

Opinion

Flawed tax reforms agenda - I

Prime Minister Imran Khan's address to the top officials of Federal Board of Revenue (FBR) on November 13, 2019 showed that his three-year-long tax reforms plan, approved on October 3, 2019, lacks proper homework, pragmatic research and solid planning. Af

Updated 15 Nov, 2019 10:40am

Opinion

Sales tax on restaurants through Finance Act

The imposition of 7.5% sales tax on restaurants through the Finance Act 2019 by the National Assembly, energetically defended by the Chairman of Federal Board of Revenue (FBR), is patently unconstitutional being in violation of Article 142 of the Constitu

Updated 08 Nov, 2019 08:33am

Making tax system functional

The primary function of a tax system is to raise revenue for the governments at various levels, in the case of Pakistan, federal and provincial, for their public expenditure as well as for local authorities and similar public bodies. Thus, the first goal

Published 26 Jul, 2019 12:00am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jan 15	278.85
USD PKR Interbank Buying / Jan 15	278.70
USD to Japanese Yen / Jan 15	157.36
USD to Swiss Franc / Jan 15	0.91
Pound Sterling to USD / Jan 15	1.22
Euro to USD / Jan 15	1.03

Stock	Volume
S&P 500 / Jan 14	5,842.91
Nasdaq / Jan 14	19,044.39
Dow Jones / Jan 14	42,518.28
India Sensex / Jan 15	76,746.81
Tokyo Nikkei / Jan 15	38,379.49
Hang Seng / Jan 15	19,223.49
FTSE 100 / Jan 15	8,250.76
Germany DAX 30 / Jan 15	20,345.48

Item	Value
Gold 10 Grams PKR / Jan 9	237,483
Karachi Cotton PKR/37.32 KG / Jan 14	18,785
Petrol/Litre / Jan 15	252.66
Crude Oil USD/Barrel / Jan 15	77.93
Gold Spot USD/Ounce / Jan 15	2,681.51
Diesel/Litre / Jan 15	258.34

Gainers
Losers
Leaders

Stock	Price
First Elite Cap.Mod / Jan 15 First Elite Capital Modaraba(FECM)	6.67 ▲ 1.00 (17.64%)
Parmount Sp. / Jan 15 Paramount Spinning Mills Limited(PASM)	5 ▲ 0.50 (11.11%)
Service Textile / Jan 15 Service Industries Textiles Limited(SERT)	15.13 ▲ 1.38 (10.04%)
Power Cem(Pref) / Jan 15 Power Cement (Pref)(POWERPS)	12.29 ▲ 1.12 (10.03%)
Gulistan Sp. / Jan 15 Gulistan Spinning Mills Limited(GUSM)	11.65 ▲ 1.06 (10.01%)
Arif Habib Ltd. / Jan 15 Arif Habib Limited(AHL)	60.96 ▲ 5.54 (10.00%)
BF Biosciences / Jan 15 BF Biosciences Limited(BFBIO)	231.30 ▲ 21.03 (10.00%)
Dandot Cement / Jan 15 Dandot Cement Company Limited(DNCC)	14.74 ▲ 1.34 (10.00%)
LSE Financial Serv. / Jan 15 LSE Financial Services Limited(LSEFSL)	17.49 ▲ 1.59 (10.00%)

Stock	Price
Fateh Ind. / Jan 15 Fateh Industries Limited(FIL)	120.60 ▼ -13.34 (-9.96%)
Idrees Tex. / Jan 15 Idrees Textile Mills Limited(IDRT)	13.50 ▼ -1.49 (-9.94%)
Al-Khair Gadoon / Jan 15 Al-Khair Gadoon Limited(AKGL)	34 ▼ -3.39 (-9.07%)
PICIC Ins.Ltd. / Jan 15 PICIC Insurance Limited(PIL)	3.07 ▼ -0.30 (-8.90%)
United Brands / Jan 15 United Brands Limited(UBDL)	21.03 ▼ -2.05 (-8.88%)
Sana Ind / Jan 15 Sana Industries Limited(SNAI)	30.50 ▼ -2.93 (-8.76%)
Universal Ins. / Jan 15 The Universal Insurance Company Limited(UVIC)	9.85 ▼ -0.94 (-8.71%)
Calcorp Ltd / Jan 15 Calcorp Limited(CASH)	29.10 ▼ -2.65 (-8.35%)
Diamond Ind. / Jan 15 Diamond Industries Limited(DIIL)	18.23 ▼ -1.59 (-8.02%)

Stock	Volume
WorldCall Telecom / Jan 15 Worldcall Telecom Limited(WTL)	68,146,464 ▲ 0.02
Pak Refinery / Jan 15 Pakistan Refinery Limited(PRL)	56,632,089 ▲ 1.60
Cnergyico PK / Jan 15 Cnergyico PK Limited(CNERGY)	43,068,457 ▼ -0.16
K-Electric Ltd. / Jan 15 K-Electric Limited(KEL)	33,447,471 ▼ -0.07
TRG Pak Ltd / Jan 15 TRG Pakistan Limited(TRG)	29,612,532 ▲ 2.51
Sui South Gas / Jan 15 Sui Southern Gas Company Limited(SSGC)	26,679,632 ▼ -1.17
Hascol Petrol / Jan 15 Hascol Petroleum Limited(HASCOL)	26,398,810 ▼ -0.28
Telecard Limited / Jan 15 Telecard Limited(TELE)	19,836,175 ▼ -0.31
Fauji Foods Ltd / Jan 15 Fauji Foods Limited(FFL)	17,696,558 ▼ -0.32

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