News stories for Sohail Sarfraz

Sohail Sarfraz

Markets

Rampant mis-selling: SECP slaps Rs 0.4 million penalty on leading insurance company

The Securities and Exchange Commission of Pakistan (SECP) has declared that a leading insurance company has failed to check rampant mis-selling of the insurance products through specified persons/insurance consultants, deputed at bank branches, who promis

Published 14 Dec, 2019 12:00am

Foreign funding/donations: SECP tightens rules for charitable bodies, others

The Securities and Exchange Commission of Pakistan (SECP) has tightened regulations for chartable associations, non-profit associations and not-for-profit companies, which receive foreign funding/ donations.

Published 13 Dec, 2019 12:00am

FBR condones time limit for filing Annex-H (stock statement)

The Federal Board of Revenue (FBR) has condoned the time limit of filing of Annex-H (stock statement) in the sales tax return by the exporters for the tax period of July 2019 up to January 15, 2020. In this regard, the FBR has issued instructions to the f

Published 13 Dec, 2019 12:00am

Corporate sector: SECP introduces 'Regulatory Sandbox Environment'

Securities and Exchange Commission of Pakistan (SECP) Wednesday took a major step to facilitate corporate sector by introducing 'Regulatory Sandbox Environment' for companies to conduct limited scale live tests of new products, services or business models

Published 12 Dec, 2019 12:00am

Pakistan, China to implement 'Green Corridor' system

Pakistani and Chinese customs administrations have principally agreed to implement 'Green Corridor' - a fast track customs clearance system exclusively for speedy clearances of the perishable agricultural products, under the proposed Green Corridor at Sus

Published 12 Dec, 2019 12:00am

Markets

Sugar sector: CCP probe sees no sign of collusive activities

The Competition Commission of Pakistan's (CCP) initial probe into the sugar sector has not yet seen any sign of collusive activities within the industry, CCP Chairperson Vadiyya Khalil informed the federal cabinet in her presentation.

Published 12 Dec, 2019 12:00am

Markets

NBFCs: SECP issues qualified capital, terms and conditions

The Securities and Exchange Commission of Pakistan (SECP) has issued the qualified capital and its terms and conditions for the Non-Banking Finance Companies (NBFCs) engaged exclusively in the business of issuance of guarantees to enhance the quality of d

Published 11 Dec, 2019 12:00am

FBR arm issued refunds sans verification: AGP

The Auditor General of Pakistan (AGP) has expressed serious concern over the issuance of huge amount of sales tax refunds without verification under Federal Board of Revenue's Expeditious Refund System (ERS) by the Centralized Sales Tax Refund Office (CST

Published 11 Dec, 2019 12:00am

AGP tells FBR to beef up WEBOC system

The Auditor General of Pakistan (AGP) has cautioned the Federal Board of Revenue (FBR) to immediately upgrade software and hardware of customs imports clearances on an emergency basis to avert any untoward incident of system failure of Web-Based One-Custo

Published 10 Dec, 2019 12:00am

Charitable bodies: Rationalization of exemptions recommended

The Auditor General of Pakistan (AGP) has strongly recommended rationalization of exemptions granted to charitable organizations and withdrawal of income tax exemptions granted under Second Schedule (Exemption Schedule) of the Income Tax Ordinance 2001, s

Published 10 Dec, 2019 12:00am

Cement, sugar and fertilizer sectors: Process of implementing 'Track and Trace' system starts this week

The Federal Board of Revenue (FBR) will start process of implementing fully automated 'Track and Trace' system for cement, sugar and fertilizer sectors during current week.

Published 09 Dec, 2019 12:00am

Legalising non-duty paid items: FBR planning to launch scheme

The Federal Board of Revenue (FBR) is planning to launch a scheme on national level to provide an opportunity to the owners of smuggled goods to legalize non-duty paid items on payment of duties/taxes and fine/default surcharge.

Published 08 Dec, 2019 12:00am

Business & Finance

Documented tobacco sector: 'FBR will collect over Rs 200 billion in next three years'

Federal Board of Revenue (FBR) Member Inland Revenue (Policy) Dr Hamid Ateeq Sarwar has said that the FBR has estimated to collect over Rs 200 billion from documented tobacco sector in the next three years and FBR's tax policy would recommend only single

Published 07 Dec, 2019 12:00am

Info under income tax law: Banks withdraw petitions from SHC

Banks have withdrawn their petitions from Sindh High Court (SHC) on the issue of providing information under Sections 165 and 165A (furnishing of information by banks) of the Income Tax Ordinance 2001 after settlement of issues with the Federal Board of R

Published 07 Dec, 2019 12:00am

Tax Year 2019: FBR receives 1.7m returns till 6th

Federal Board of Revenue (FBR) has so far received 1.7 million income tax returns (till December 6) for Tax Year 2019 as compared to 1.2 million returns during the same period of the Tax Tear 2018, reflecting an increase of 0.5 million returns.

Published 07 Dec, 2019 12:00am

Pakistan

Tender for deep solar pumping systems: CCP acquits KP Directorate of Agri Engg in restrictive trading conditions

Competition Commission of Pakistan (CCP) has declared that Khyber Pakhtunkhwa Directorate of Agriculture Engineering (Respondent) has not been involved in restrictive trading conditions in its tender for 'Procurement and Installation of Deep Solar Pumping

Published 06 Dec, 2019 12:00am

Pakistan

Islamabad RTO sets up market bodies to expedite registrations

Expanding the scope of its enforcement activities, Regional Tax Office, Islamabad Wednesday constituted special market committees with the assistance of trade associations and Islamabad Chamber of Commerce and Industry (ICCI) to maximize registration with

Published 05 Dec, 2019 12:00am

Business & Finance

Legal cover to some tax relief measures: Presidential Ordinance may be promulgated soon

A Presidential Ordinance is expected to be promulgated in next 7-10 days to give legal cover to some tax relief measures including simplified sales tax registration of traders under the agreement signed between the federal government and traders.

Published 05 Dec, 2019 12:00am

Pakistan

Efficiency of doctors, hospitals: IPO asks FIA to probe into unauthorised use of research work

Intellectual Property Organization of Pakistan has asked the Federal Investigation Agency (FIA) to investigate the biggest intellectual property right case of the world where a copyrighted medical research work created to measure efficiency of doctors/hos

Published 04 Dec, 2019 12:00am

FBR directed to simplify H-Form within a week

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Tuesday directed Federal Board of Revenue (FBR) to take input and suggestions from the textile exporters and simplify the H-Form (stock statement) within a week to expedite the pr

Published 04 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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