SC reserves verdict in GIDC case

News Image

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

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 171,036.86
52.70M
-0.53%
-906.74
ALLSHR 103,767.55
132.63M
-0.53%
-553.85
KSE30 50,889.15
14.03M
-0.55%
-282.98
KMI30 243,409.65
12.92M
-0.49%
-1204.33
KMIALLSHR 67,204.41
86.51M
-0.52%
-353.25
BKTi 47,537.61
6.91M
-0.87%
-416.09
OGTi 34,791.48
0.96M
-0.51%
-176.83
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 78,440.00 78,680.00
77,880.00
70.00
0.09%
BRENT CRUDE 101.06 101.94
100.81
-0.15
-0.15%
RICHARDS BAY COAL MONTHLY 130.00 0.00
0.00
2.10
1.64%
ROTTERDAM COAL MONTHLY 140.00 0.00
0.00
1.25
0.90%
USD RBD PALM OLEIN 1,228.00 1,228.00
1,228.00
0.00
0.00%
CRUDE OIL - WTI 96.13 97.79
95.94
0.08
0.08%
SUGAR #11 WORLD 18.35 18.47
18.08
0.25
1.38%

Chart of the Day


Latest News
September 10, 2026 at 10:18 AM GMT+05:00

BML drops DM Holdings deal, eyes Rs10bn sponsor injection


September 10, 2026 at 09:43 AM GMT+05:00

Oil extends gains above $101 amid Middle East escalation


September 10, 2026 at 09:43 AM GMT+05:00

Gates Foundation backs Pakistan's cashless drive, reform push



Top 5 things to watch in this week

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