BR100 Increased By (2.94%)
BR30 Increased By (3.47%)
KSE100 Increased By (2.69%)
KSE30 Increased By (2.84%)
BECO 5.71 Increased By ▲ 0.09 (1.6%)
BML 59.67 Increased By ▲ 0.16 (0.27%)
BOP 35.73 Increased By ▲ 1.12 (3.24%)
CNERGY 8.28 Increased By ▲ 0.20 (2.48%)
DCL 12.13 Increased By ▲ 0.08 (0.66%)
FCCL 57.39 Increased By ▲ 2.99 (5.5%)
FCSC 5.52 No Change ▼ 0.00 (0%)
FFL 18.03 Decreased By ▼ -0.02 (-0.11%)
FNEL 1.35 Increased By ▲ 0.02 (1.5%)
HUMNL 11.66 Increased By ▲ 0.59 (5.33%)
KEL 8.07 Increased By ▲ 0.02 (0.25%)
KOSM 6.26 Increased By ▲ 0.38 (6.46%)
MLCF 98.13 Increased By ▲ 7.61 (8.41%)
NBP 198.33 Increased By ▲ 8.16 (4.29%)
PACE 11.77 Increased By ▲ 0.24 (2.08%)
PAEL 43.09 Increased By ▲ 2.02 (4.92%)
PIAHCLA 27.35 Increased By ▲ 1.51 (5.84%)
PIBTL 17.96 Increased By ▲ 0.45 (2.57%)
PPL 232.78 Increased By ▲ 6.94 (3.07%)
PRL 35.69 Increased By ▲ 1.06 (3.06%)
PTC 67.58 Increased By ▲ 2.96 (4.58%)
SEARL 94.28 Increased By ▲ 2.90 (3.17%)
SSGC 27.66 Increased By ▲ 0.69 (2.56%)
TELE 9.19 Increased By ▲ 0.26 (2.91%)
THCCL 70.59 Increased By ▲ 1.43 (2.07%)
TPLP 11.37 Increased By ▲ 0.47 (4.31%)
TREET 25.42 Increased By ▲ 0.78 (3.17%)
TRG 68.85 Decreased By ▼ -0.93 (-1.33%)
WAVES 11.25 Increased By ▲ 0.09 (0.81%)
WTL 1.29 Increased By ▲ 0.02 (1.57%)

The Lahore High Court on Tuesday gave last opportunity to the ministry of finance to file a reply about levy of sales tax on petroleum products till December 01. Punjab Opposition Leader Mian Mahmoodur Rasheed has challenged the levy of the sales tax for being imposed unlawfully.
Advocate Sheraz Zaka argued on behalf of the petitioner that the imposition of sales tax on petroleum products could not take place without approval of the federal cabinet and the parliament. The counsel said recently the Supreme Court had decided that any notification issued by the federal government would be required an approval from the cabinet. He said the imposition of sales tax on petroleum products was a violation of fundamental rights and an exploitative practice.

Copyright Business Recorder, 2016

Comments

Comments are closed for this article.