Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has deplored recent reports and comments in a section of the press giving an impression that recent internal restructuring had abolished the legal function of the SECP and that all legal checks and balances had been removed. The legal function continues to exist under a new name: Legislation and General Counsel Department (L and GCD). This move is completely in line with the best international practices followed by securities’ regulators in [...]

Islamabad: The Federal Government, vide an amendment in its Amnesty SRO No.646(I)/2011 dated 25th June 2011, has also waived off the fine, in addition to the waiver of penalty and surcharge, on payment of principal amount of Customs Duty before 30th Ju...

Rawalpindi: Mr. Wang Yiren Vice Administrator State Administration of Science, Technology and Industry for National Defence (SASTIND) China, called on General Khalid Shameem Wynne, Chairman Joint Chiefs of Staff Committee (CJCSC) at Joint Staff Headquarters, Chaklala. During his meeting with CJCSC important matters pertaining to collaboration in various fields of science and technology were discussed. Chairman JCSC express satisfaction for the wide ranging bilateral defence cooperation and collaboration with Pakistan Armed Forces and appreciated the valuable Chinese assistance in our [...]

Karachi: Education Department of city government held a walk to create awareness among masses about the clean and green campaign in city. The walk which was held from Gulshan Town Office to Civic Centre was participated by EDO Municipal Services Masood Alam, EDO Finance and Planning Amir Khursheed, EDO Education Ibrahim Kanbhar, District Officer Khurram Arif and staff of Education Department. Addressing the participants of walk, EDO MS Masood Alam said it was the duty of every citizen to play [...]

Karachi: Large Tax Unit Karachi has taken coercive measure against KESC for recovery of alleged default surcharge of Rs.152 million by serving notices to the banks; despite the fact that sales tax refunds of more than 1,600 million are pending with LTU. This coercive measure has been taken by LTU Karachi without considering the fact that the levy of alleged default surcharge is subjudice before the higher appellate forums. The action taken by LTU, Karachi is entirely unjust and against [...]

Karachi: The Karachi Electric Supply Company has strongly condemned several incidents of physical attack on teams of employees by union miscreants at Central Stores and various locations while attending to their official responsibilities. The law enforcement agencies personnel present at all occasions did not move to abort the attacks but watched silently. The KESC has demanded immediate action against the miscreants taking law into their hands in direct violation of Sindh High Court orders. The union miscreants attacked KESC maintenance [...]

Karachi: The Karachi Electric Supply Company has sought immediate security under the orders of Sindh High Court as police department failed to implement the apex court verdict of June 23. The KESC has demanded of the provincial government to assign the task of providing security and protection to the utility’s employees, offices and installations to the law enforcement agencies as a top priority under the Sindh High Court orders instructing the police authorities and DG Rangers. The KESC said police [...]