News stories for Sohail Sarfraz

Sohail Sarfraz

Business & Finance

Fiscal consolidation aimed at keeping debt at sustainable level: Sanchez

Resident Chief of International Monetary Fund (IMF) in Pakistan, Teresa Daban Sanchez said on Tuesday that fiscal consolidation is aimed at keeping the debt at sustainable level.

Published 25 Dec, 2019 12:00am

Technology

Mobile phones: Telecom companies, FBR, MoIT to submit viewpoints today

Presidents/chief executive officers (CEOs) of the telecom companies, Federal Board of Revenue (FBR) and Ministry of Information Technology would submit their viewpoints on taxation of mobile phones and allowing duty free import of mobile phones today at a

Published 24 Dec, 2019 12:00am

GST harmonization: IMF for setting up JWG

The Intern-ational Monetary Fund (IMF) has recommended Pakistan to establish a joint working group comprising Center and provinces to provide recommendations on General Sales Tax (GST) harmonization to be approved by the Council of Common Interests (CCI)

Published 24 Dec, 2019 12:00am

Wholesale tax policy reform: Preparations need to start early: Fund

The Interna-tional Monetary Fund (IMF) has said that the preparations for a wholesale tax policy reform envisaged as part of the fiscal year (2020-21) budget need to start early to ensure timely implementation.

Published 24 Dec, 2019 12:00am

NAB erred in interpreting appointments: Mirza

Securities and Exchange Policy Board (SEPB) Chairman Khalid Mirza Saturday said that the Chairman National Accountability Bureau (NAB) has incontrovertibly erred and would do well to retract his direction for the holding of an inquiry into misuse of autho

Updated 22 Dec, 2019 11:41pm

Violation of Securities Act: SECP bench endorses impugned order

A three-member larger appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has endorsed the impugned order issued by Commissioner (SMD), SECP against a company and dismissed the appeal filed by the said company.

Published 22 Dec, 2019 12:00am

Senate panel told: Turnover tax exemption to USC possible only thru Finance Bill

Hameed Memon, a senior Inland Revenue official and Director General (Retail), Federal Board of Revenue (FBR), has said that exemption from turnover tax to Utility Stores Corporation of Pakistan is only possible through the Finance Bill at the time of fede

Published 22 Dec, 2019 12:00am

Brokers required to have CFT policy well before promulgation of law: SECP bench

The Appellant Bench of Securities and Exchange Commission of Pakistan (SECP) has conveyed to stock market brokers that even prior to promulgation of Money Laundering and Countering Financing of Terrorism Regulations, 2018, brokers were required to have AM

Published 21 Dec, 2019 12:00am

FBR chief writes letter to heads of banks

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has written a letter to heads of banks, specifying that the tax department would seek information about banks' customers through adoption of special procedures and format.

Published 21 Dec, 2019 12:00am

Incorporation of corporate restructuring co: Minimum amount of paid-up capital fixed at Rs 500 million

The Securities and Exchange Commission of Pakistan (SECP) on Thursday announced that minimum amount of paid-up capital for incorporation of a corporate restructuring company has been fixed at Rs 500 million.

Published 20 Dec, 2019 12:00am

Markets

Insurance co's CEO: SECP upholds decision to impose fine of Rs 100,000

The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has directed the SECP to proceed against the company secretary of an insurance company for his failure to invite a director in four meetings of the board of directors.

Published 20 Dec, 2019 12:00am

Over 95,603 kanals of land, bank accounts attached: Mega Benami properties case unearthed

Benami Transaction (Prohibition) Zone-1 Islamabad has unearthed Pakistan's mega corporate Benami case by provisionally attaching over 95,603 kanals of land and seven bank accounts of a registered company with market value of attached assets between Rs 15-

Published 19 Dec, 2019 12:00am

Tier-1 retail outlets: IR commissioners told to implement POS invoicing system

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi Wednesday issued directions to all chief commissioners of Inland Revenue for implementation of point of sale (POS) Invoicing System at all Tier-1 retail outlets. Tier-1 covers a retailer operating as a

Published 19 Dec, 2019 12:00am

Markets

Sugar mill case: Political, economic trends cannot be considered as 'rare circumstances', rules SECP

An Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has ruled that the political and economic trends cannot be considered as "rare circumstances"- an essential condition for reclassification of investment by any company or in c

Published 18 Dec, 2019 12:00am

Business & Finance

Textile sector: Cases of fake, flying ST invoices surface in Faisalabad

The cases of fake and flying sales tax invoices invoking billions of rupees have been surfaced in Faisalabad after withdrawal of sales tax zero-rating facility from textile sector from July 1, 2019, sources told Business Recorder.

Published 18 Dec, 2019 12:00am

Deadline for filing tax returns extended till December 31

After the circulation of an unverified circular on the date extension on social media, the FBR late Monday night extended the date for filing of Income Tax returns/statements for the Tax Year 2019 for individuals and Associations of Persons (AoPs) up to D

Published 17 Dec, 2019 12:00am

Wheat flour body involved in fixing prices: CCP

The Competition Commission of Pakistan (CCP) has found that the wheat flour association was involved in fixing prices of wheat flour and sharing commercially sensitive information and strategic data among its members.

Published 16 Dec, 2019 12:00am

Corporate laws: SEPB discusses key policy changes

The Securities and Exchange Policy Board (SEPB) discussed key policy changes in corporate laws to encourage listing of companies and increase capital formation, assist Federal Board of Revenue (FBR) to ensure documentation of corporate sector, facilitate

Published 15 Dec, 2019 12:00am

Licensed entities: Adjudication division given certain powers

The Securities and Exchange Commission of Pakistan (SECP) has delegated powers and functions of the SECP Act 1977 to the Commissioners, Head of Department and Head of Wings of Adjudication Department-I of the Adjudication Division pertaining to the licens

Published 15 Dec, 2019 12:00am

'Origin of import circumvention': FBR decides to lodge FIRs

Federal Board of Revenue (FBR) has decided to lodge FIRs and take other actions under the Customs Act against importers involved in mis-declaration of goods of Indian origin through international ports like Dubai, Hong Kong and Singapore.

Published 14 Dec, 2019 12:00am

Gainers
Losers
Leaders

Stock	Price
SME Leasing Ltd / May 27 SME Leasing Limited(SLL)	3.40 ▲ 0.95 (38.78%)
Reliance Ins. / May 27 Reliance Insurance Company Limited(RICL)	6.45 ▲ 0.95 (17.27%)
Escorts Bank / May 27 Escorts Investment Bank Limited(ESBL)	7.06 ▲ 1.00 (16.50%)
Punjab Mod / May 27 First Punjab Modaraba(FPJM)	1.92 ▲ 0.22 (12.94%)
Dandot Cement / May 27 Dandot Cement Company Limited(DNCC)	8.20 ▲ 0.90 (12.33%)
F.Treet Manuf / May 27 First Treet Manufacturing Modaraba(FTMM)	8.75 ▲ 0.75 (9.38%)
Samba Bank / May 27 Samba Bank Limited(SBL)	10.25 ▲ 0.86 (9.16%)
Ruby Tex. / May 27 Ruby Textile Mills Limited(RUBY)	4.35 ▲ 0.35 (8.75%)
PICIC Ins.Ltd. / May 27 PICIC Insurance Limited(PIL)	1.03 ▲ 0.08 (8.42%)
Husein Sugar / May 27 Husein Sugar Mills Limited(HSM)	13.72 ▲ 1.00 (7.86%)

Stock	Price
Tri-Star Mutual / May 27 Tri-Star Mutual Fund Limited(TSMF)	5.75 ▲ -1.00 (-14.81%)
Nazir Cotton Mills / May 27 Nazir Cotton Mills Limited(NCML)	5.17 ▲ -0.68 (-11.62%)
Pak Gen.Ins. / May 27 The Pakistan General Insurance Co. Ltd.(PKGI)	8.20 ▲ -0.99 (-10.77%)
Silk Bank Ltd / May 27 Silkbank Limited(SILK)	1.29 ▲ -0.14 (-9.79%)
Askari Life Assur. / May 27 Askari Life Assurance Company Limited(ALAC)	6.21 ▲ -0.67 (-9.74%)
Ist.Dawood Bank / May 27 First Dawood Investment Bank Limited(FDIBL)	2.10 ▲ -0.18 (-7.89%)
Ghazi Fabrics / May 27 Ghazi Fabrics International Limited(GFIL)	5.81 ▲ -0.49 (-7.78%)
Thal Ind.Corp. / May 27 Thal Industries Corporation Limited(TICL)	253.91 ▲ -20.58 (-7.50%)
Cordoba Logistics / May 27 Cordoba Logistics & Ventures Limited(CLVL)	13.21 ▲ -1.07 (-7.49%)
Philip Morris Pak. / May 27 Philip Morris (Pakistan) Limited(PMPK)	536.53 ▲ -43.47 (-7.49%)

Stock	Volume
Cnergyico PK / May 27 Cnergyico PK Limited(CNERGY)	63,944,791 ▼ 0.00
Pak Refinery / May 27 Pakistan Refinery Limited(PRL)	54,932,038 ▼ 0.00
WorldCall Telecom / May 27 Worldcall Telecom Limited(WTL)	21,383,000 ▼ 0.00
Hum Network / May 27 Hum Network Limited(HUMNL)	21,349,500 ▼ 0.00
Ghani Glo Hol / May 27 Ghani Global Holdings Limited(GGL)	19,460,637 ▼ 0.00
Pak Elektron / May 27 Pak Elektron Limited(PAEL)	19,140,500 ▼ 0.00
Telecard Limited / May 27 Telecard Limited(TELE)	18,961,000 ▼ 0.00
K-Electric Ltd. / May 27 K-Electric Limited(KEL)	15,469,500 ▼ 0.00
Unity Foods Ltd / May 27 Unity Foods Limited(UNITY)	12,464,558 ▼ 0.00
Fauji Foods Ltd / May 27 Fauji Foods Limited(FFL)	11,951,000 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 26	202.40
USD PKR Interbank Buying / May 26	202.00
USD to Japanese Yen / May 26	127.04
USD to Swiss Franc / May 26	0.96
Pound Sterling to USD / May 26	1.26
Euro to USD / May 26	1.07
UK LIBOR % / May 26	0.82

Stock	Volume
S&P 500 / May 26	4057.84
India Sensex / May 26	54252.53
Tokyo Nikkei / May 26	26604.84
Nasdaq / May 26	11740.65
Hang Seng / May 26	20116.20
FTSE 100 / May 26	7564.92
Dow Jones / May 26	32637.19
Germany DAX 30 / May 26	14231.29
France CAC40 / May 26	6410.58

Item	Value
Crude Oil USD/Barrel / May 26	114.16
Karachi Cotton PKR/37.32 KG / May 26	21180.00
Gold 10 Grams PKR / May 26	118900.00
Gold Spot USD/Ounce / May 26	1855.80
Cotton US¢/pound / May 26	124.33

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