News stories for Huzaima Bukhari

FBR's quest for reforms, modernisation

ARTICLE: "We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify ...

Published 07 Aug, 2020 02:45am

Editorials

Allama Iqbal on equitable taxation

EDITORIAL: In this article, we are highlighting the ideas of the great thinker, philosopher and poet, Allama ...

Published 31 Jul, 2020 02:42am

Markets

Malaise of mounting debt

ARTICLE: The central government's debt, excluding its liabilities, increased to Rs 34.48 trillion by the end of May...

Published 24 Jul, 2020 02:59am

Opinion

Unpaid refunds

ARTICLE: "The genius of our ruling class is that it has kept a majority of the people from ever questioning the...

Published 17 Jul, 2020 02:53am

Opinion

Finance Act 2020: Lack of initiatives & innovations - II

ARTICLE: The existing system imposes high taxes but yields low revenues. Only 2000 companies pay 75% of total taxes....

Published 10 Jul, 2020 02:47am

Markets

Finance Act 2020: Lack of initiatives & innovations - I

ARTICLE: The adoption of the Finance Bill 2020 on June 29, 2020 and exceeding the target by the Federal Board of...

Published 03 Jul, 2020 02:59am

Opinion

Analysing 'tax expenditure'

ARTICLE: "We don't do charity in Germany. We pay taxes. Charity is a failure of governments'...

Published 26 Jun, 2020 03:34am

Opinion

Finance Bill 2020: Muzzling right to justice

In the Finance Bill 2020, presented along with federal budget 2020-21, a highly lamentable-rather unconstitutional...

Published 19 Jun, 2020 03:27am

Opinion

Budget 2020-21: Illicit trade in tobacco products - II

ARTICLE: "...19.1 percent of Pakistani population, which includes 31.8 percent of men and 5.8 percent of women,...

Published 12 Jun, 2020 03:07am

Opinion

Budget 2020-21: Illicit trade in tobacco products - I

ARTICLE: This is the first part of a two-part series on how to counter illicit trade in tobacco products, recoup...

Updated 13 Jun, 2020 09:50am

Opinion

Budgets 2020 amid Covid-19 crisis - III: Fiscal challenges and 18th Amendment

The failure to tap the actual tax potential by the federal and provincial governments is the real issue and not the Constitution (Eighteenth Amendment) Act, 2010 [hereinafter "18th Amendment"] vis-à-vis the National Finance Commission (NFC) Award. Dismal

Updated 21 Jun, 2020 01:38pm

Opinion

Budgets 2020 amid Covid-19 crisis - II: Need for paradigm shift

In the present circumstances, in the forthcoming federal budget, the need for a fair and simple tax system, as elaborate in Towards Flat, Low-rate, Broad and Predictable Taxes [PRIME Institute, 2016] and referred to in PIDE Policy Viewpoint [16:2020] Doin

Published 22 May, 2020 12:03am

Opinion

Budgets 2020 amid Covid-19 crisis-I: Revival, growth and revenues

"If we were to construe Entry 52 of the Legislative List keeping in view the above meanings of the expression "in lieu of", it becomes evident that the Legislature has the option instead of invoking Entry 47 for imposing taxes on income, it can impose the

Published 15 May, 2020 12:05am

Opinion

FBR: audit closure, capacity & legality

According to a Press report, the government of Pakistan Tehreek-i-Insaf (PTI) "has quietly closed over 310,000 tax audit cases that had been automatically selected from 2015 to 2017 due to the failure of taxpayers to timely file tax returns and pay due ta

Published 08 May, 2020 12:05am

Opinion

Covid-19: economic & tax reliefs

Pakistan is facing the brunt of Coronavirus outbreak as the country is in a partial lock down. This has had a negative impact on businesses. Initial estimates show that the economy will witness sluggish growth in services, manufacturing and agriculture se

Published 01 May, 2020 12:54am

Opinion

A simple tax bailout

As mentioned in the last column [Tax bailout for economic revival, Business Recorder, April 17, 2020], all businesses-badly hit by lockdown in the wake of Covid-19 epidemic and due to sluggish economic activities, high utility bills and markup rate-are de

Published 24 Apr, 2020 02:52am

Opinion

Tax bailout for economic revival

According to various Press reports, all businesses in Pakistan, as elsewhere, badly hit by lockdown in the wake of Covid-19 epidemic, are demanding a comprehensive tax bailout claiming that loan facility announced by State Bank of Pakistan (SBP) to pay sa

Published 17 Apr, 2020 12:00am

Opinion

Incentive-package for construction industry: Amnesty, tax breaks & multiple reliefs

The Prime Minister of Pakistan, Imran Khan, in a Press conference on April 3, 2020, announced what is termed by official quarters as a "comprehensive relief/stimulus package" for the construction sector-also given the status of industry. At the time of wr

Published 10 Apr, 2020 12:00am

Opinion

Covid-19 pandemic, leadership & apathy

In a country of about 210 million people, about 10,000 individuals, prominent in business or profession or holding key positions in state institutions, think they know each and everything and can fix the multiple and complex problems faced by Pakistan, ei

Published 03 Apr, 2020 12:00am

Opinion

When challenges offer opportunities - II

The PTI government, compelled to borrow more at high interest rate, does not know that billions are lying unpaid with industrial undertakings/employers. Thus the issue is not that of funds but getting due taxes/levies from the wealthy and tax evaders and

Published 02 Apr, 2020 12:00am

Gainers
Losers
Leaders

Stock	Price
Dewan Sugar / Jul 1 Dewan Sugar Mills Limited(DWSM)	2.99 ▲ 0.80 (36.53%)
Yousuf Weaving / Jul 1 Yousaf Weaving Mills Limited(YOUW)	5.51 ▲ 0.56 (11.31%)
Ashfaq Textile / Jul 1 Ashfaq Textile Mills Limited(ASHT)	8.90 ▲ 0.90 (11.25%)
Azgard Nine / Jul 1 Azgard Nine Limited(ANL)	11.28 ▲ 1.00 (9.73%)
Tri-Star Power / Jul 1 Tri-Star Power Limited(TSPL)	3.79 ▲ 0.29 (8.29%)
Sanofi-Aventis / Jul 1 Sanofi-Aventis Pakistan Limited(SAPL)	1148.48 ▲ 80.12 (7.50%)
Bolan Casting / Jul 1 Bolan Castings Limited(BCL)	53.55 ▲ 3.73 (7.49%)
K.S.B.Pumps / Jul 1 KSB Pumps Company Limited(KSBP)	142.14 ▲ 9.91 (7.49%)
MithchellsFruit / Jul 1 Mitchells Fruit Farms Limited(MFFL)	91.69 ▲ 6.39 (7.49%)
Allawasaya Tex / Jul 1 Allawasaya Tex. & Finishing Mills Ltd(AWTX)	1525.00 ▲ 106.00 (7.47%)

Stock	Price
F.Treet Manuf / Jul 1 First Treet Manufacturing Modaraba(FTMM)	9.78 ▲ -1.00 (-9.28%)
Husein Sug.Convert.Pref. / Jul 1 Husein Sugar Mills Ltd Convertible Preference Shares(HSMCPS)	4.99 ▲ -0.51 (-9.27%)
AEL Textile / Jul 1 AEL Textile Limited(AEL)	12.95 ▲ -1.05 (-7.50%)
Ellcot Spinning / Jul 1 Ellcot Spinning Mills Limited(ELSM)	150.77 ▲ -12.22 (-7.50%)
TPL Insurance / Jul 1 TPL Insurance Limited(TPLI)	31.21 ▲ -2.53 (-7.50%)
Bank Of Khyber / Jul 1 The Bank of Khyber(BOK)	13.92 ▲ -1.08 (-7.20%)
Pak Gen.Ins. / Jul 1 The Pakistan General Insurance Co. Ltd.(PKGI)	10.16 ▲ -0.77 (-7.04%)
Kohinoor Mills / Jul 1 Kohinoor Mills Limited(KML)	25.00 ▲ -1.75 (-6.54%)
Jahangir Sidd(Pref) / Jul 1 Jahangir Sidd(Pref)(JSCLPSA)	7.50 ▲ -0.44 (-5.54%)
Quice Food / Jul 1 Quice Food Industries Limited(QUICE)	3.82 ▲ -0.19 (-4.74%)

Stock	Volume
Agritech Limited / Jul 1 Agritech Limited(AGL)	9,614,500 ▼ 0.00
Yousuf Weaving / Jul 1 Yousaf Weaving Mills Limited(YOUW)	5,016,500 ▼ 0.00
Kohinoor Spining / Jul 1 Kohinoor Spinning Mills Limited(KOSM)	4,705,000 ▼ 0.00
G3 Technologies / Jul 1 G3 Technologies Limited(GTECH)	4,358,000 ▼ 0.00
Azgard Nine / Jul 1 Azgard Nine Limited(ANL)	4,332,500 ▼ 0.00
TPL Properties / Jul 1 TPL Properties Limited(TPLP)	3,891,837 ▼ 0.00
Sui North Gas / Jul 1 Sui Northern Gas Pipelines Limited(SNGP)	2,448,092 ▼ 0.00
WorldCall Telecom / Jul 1 Worldcall Telecom Limited(WTL)	2,072,000 ▼ 0.00
Pak Int.Bulk / Jul 1 Pakistan International Bulk Terminal(PIBTL)	2,010,000 ▼ 0.00
Pak Refinery / Jul 1 Pakistan Refinery Limited(PRL)	1,717,062 ▼ 0.00

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Jun 30	204.90
USD PKR Interbank Buying / Jun 30	204.70
USD to Japanese Yen / Jun 30	135.30
USD to Swiss Franc / Jun 30	0.96
Pound Sterling to USD / Jun 30	1.21
Euro to USD / Jun 30	1.05
UK LIBOR % / Jun 30	1.57

Stock	Volume
S&P 500 / Jun 30	3785.38
India Sensex / Jun 30	53018.94
Tokyo Nikkei / Jun 30	26186.80
Nasdaq / Jun 30	11028.73
Hang Seng / Jun 30	21859.79
FTSE 100 / Jun 30	7169.28
Dow Jones / Jun 30	30775.43
Germany DAX 30 / Jun 30	12783.77
France CAC40 / Jun 30	5922.86

Item	Value
Crude Oil USD/Barrel / Jun 30	106.11
Karachi Cotton PKR/37.32 KG / Jun 30	18180.00
Gold 10 Grams PKR / Jun 30	120000.00
Gold Spot USD/Ounce / Jun 30	1805.60
Cotton US¢/pound / Jun 30	97.14

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