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Sohail Sarfraz

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SECP drafts NBFCs, Collective Investment Vehicles Bill, 2020 law

The Securities and Exchange Commission of Pakistan (SECP) has drafted a new law, called, Non-Banking Finance Companies and Collective Investment Vehicles Bill, 2020, to protect investors and tighten supervision/ monitoring of non-banking finance companies
Updated 20 Mar, 2020 10:52am
Markets

SECP directs listed companies to modify planning for AGMs

The Securities and Exchange Commission of Pakistan (SECP) has directed the listed companies to modify their usual planning for annual general meetings to avoid large gathering at one place. The SECP has issued a circular to limit the spread of coronavirus
Published 19 Mar, 2020 12:00am
Business

IREN Hyderabad launches drive against illicit cigarettes

Major enforcement actions have been carried out by the Inland Revenue Enforcement Network (IREN) Hyderabad, and Regional Tax Office (RTO) Peshawar, against non-duty paid cigarettes, preventing huge loss of revenue. The IREN Hyderabad on Tuesday launched a
Published 18 Mar, 2020 12:00am
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CCP's orders set principles of fair advertising

The Competition Commission of Pakistan (CCP)'s recent enforcement orders against firms engaging in deceptive marketing practices, set key principles of fair advertising, and serve as essential guidelines both for marketers and producers of goods and servi
Published 17 Mar, 2020 12:00am
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Unlawful financing: SECP bench cautions stock brokers

The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has cautioned that the stock market brokers cannot violate laws for using their own resources to facilitate some of their long term clients through unlawful financing for dev
Published 16 Mar, 2020 12:00am
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SECP chief for addressing corporate sector's issues

Aamir Khan, chairperson the Securities and Exchange Commission of Pakistan (SECP), has said that there is a dire need for the SECP, the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR) to jointly address key issues of the corporate sect
Published 13 Mar, 2020 12:00am
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'Market halt' halted PSX bleeding

The recent reforms and restructuring of trading procedures at the stock exchange, introduced by the Securities and Exchange Commission of Pakistan (SECP), secured the Pakistan Stock Exchange (PSX) from a major blow. Senior officials of the SECP told Bu
Published 12 Mar, 2020 12:00am
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FASTER System: Refunds to be paid on FIFO basis: FBR

The Federal Board of Revenue (FBR) has given a new understanding to the exporters that the sales tax refunds under the FASTER System would be paid on the basis of queue, ie, first in, first out basis and not within 72 hours. This has been disclosed by a F
Published 12 Mar, 2020 12:00am
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Tax Laws 'amendment' bill rejected

The Senate Standing Committee on Finance on Tuesday unanimously rejected Tax Laws (First Amendment) Bill 2019, declaring that the bill does not fall within the purview of the "money bill". The Senate Standing Committee on Finance, Revenue and Economic Aff
Published 11 Mar, 2020 12:00am
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CCI decides to enforce uniform food standard

The Council of Common Interests (CCI) has decided that the enforcement of food standards shall be carried out by provinces and the local governments, and a single harmonized standard shall prevail across the country as a national standard. Sources told <i
Published 10 Mar, 2020 12:00am
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Pakistan Tobacco Company Limited launched

Advisor to PM on Commerce Abdul Razak Dawood Monday launched Pakistan Tobacco Company Limited, a subsidiary of a British American Group (BAT), new exports initiative "Made in Pakistan-2" for future manufacturing investments to enhance exports.
Published 10 Mar, 2020 12:00am