Minority shareholders of Ecopack Ltd — a listed company that makes plastic bottles for beverage firms — have sought the intervention of the Securities and Exchange Commission of Pakistan (SECP) to protect the entity from hostile and allegedly illegal takeover by a group of seven investors. The seven acquirers “acted in concert” to accumulate over 50 per cent shareholding within a few months wit
The government has asked the National Electric Power Regulatory Authority (Nepra) to increase K-Electric’s consumer tariff by up to Rs6.02 per unit under two past quarterly adjustments and allow its recovery from consumers in three months — April to June — to ensure national uniform tariff. The government has already notified an equivalent increase in tariff for consumers of ex-Wapda Discos. Fo
Stock prices inched up on Monday in a mixed trading session on the Pakistan Stock Exchange. Arif Habib Ltd said stocks traded on the lower side initially but the trend line shifted afterwards as the index of representative shares started moving both ways. The delay in the conclusion of a staff-level agreement with the International Monetary Fund (IMF) coupled with ongoing political uncertainty
The unilateral amendments to the monthly sales tax return forms by the Sindh Revenue Board (SRB) have hindered the smooth e-filing of returns, said the Karachi Tax Bar Association (KTBA) on Monday. In a statement, the KTBA said that the restriction on debit/credit notes reporting in monthly sales tax returns was causing a delay in compliance for taxpayers to e-file their returns. In a letter
Khalid Siraj Textile Mills Ltd (KSTML) said on Monday it’s shutting down operations until May 31 owing to political unrest, import restrictions and an “unchecked” increase in the dollar rate. “These factors have increased inflation, undermined the rupee, driven up cotton prices, driven up the cost of electricity per unit and, most importantly, harmed business confidence,” it said. The textil