SC reserves verdict in GIDC case

News Image

MG News | February 20, 2020 at 05:48 PM GMT+05:00

0:00

Feb 20, 2020: The Supreme Court on Thursday reserved its judgment on the Gas Infrastructure Development Cess (GIDC) case.

A three-member bench of the apex court headed by Justice Mushir Alam and comprised Justice Faisal Arab and Justice Mansoor Ali Shah heard the case.

During the course of proceedings, Punjab, Sindh and Balochistan provinces supported the federal government's instance of cess implementation during the hearing of the case.

The Khyber Pakhtunkhwa additional advocate general said the provincial government had opposed enforcement of the GIDC as the industry had already burdened of other taxes.

Advocate Salman Akram Raja, counsel for a private company said the industry sector should be treated equally.

Makhdoom Ali Khan, counsel for another private company said the Indian Supreme Court in its decision had ordered to spend a certain amount of money to recover such cess.

He said Pakistan's industry would not be benefited from TAPI or Iran Pakistan Pipeline projects.

The court in its ruling also stated that the counsels of parties could submit their contentions in writing within 15 days.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 154,439.68
241.10M
-1.09%
-1701.56
ALLSHR 94,668.16
984.91M
-0.80%
-765.63
KSE30 47,119.91
93.25M
-1.26%
-600.63
KMI30 226,125.72
147.15M
-1.17%
-2674.34
KMIALLSHR 63,569.05
456.03M
-0.92%
-592.28
BKTi 41,622.83
56.72M
-1.28%
-538.80
OGTi 31,488.79
10.15M
-1.08%
-344.95
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,850.00 117,320.00
114,850.00
1920.00
1.67%
BRENT CRUDE 66.88 68.17
65.71
0.51
0.77%
RICHARDS BAY COAL MONTHLY 84.00 84.00
84.00
-1.90
-2.21%
ROTTERDAM COAL MONTHLY 93.00 93.25
92.75
0.00
0.00%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.60 63.98
61.69
0.23
0.37%
SUGAR #11 WORLD 15.81 15.87
15.67
-0.01
-0.06%

Chart of the Day


Latest News
September 13, 2025 at 08:42 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


September 13, 2025 at 05:13 PM GMT+05:00

Wheat prices break past official ceilings


September 12, 2025 at 06:41 PM GMT+05:00

CCP approves AZT Foundation’s acquisition of Route2Health



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg