KARACHI: The US dollar reached Rs167.20 during early day trading on Friday. The greenback further gained 22 paisas against the Pak Rupee (PKR) in the early trade. The foreign currency was ended last day at Rs166.98 in the interbank foreign exchange market.
The dollar made gains for the last four consecutive days against the PKR during this week. The higher import payment demand on the last trading day kept the pressure on the local currency.
Currency experts said that dollar demand for external payments remained high. They said that the rising deficit in trade and the current account is also a major concern for the market.
They said that the country needed an immediate flow of the foreign currency to discharge external payment liabilities without pressure on the exchange rate.
The local unit lost Rs1.63 against the dollar during the past four trading days. The exchange rate was closed at Rs165.62 on August 27, 2021.
Following motor cars will be presented for the auction:
01. Mercedes Benz E-230 Car, Reg. No. AAJ-106, Model-1997 Chassis No. WDB2100372A189414 Color Grey 2294cc
02. BMW 7 Series E66 745Li Car, Reg. No. BCP-523, Model-2002 Chassis No. WBAGN62000DE55455, H.P. 4400cc Color White
03. Toyota Mark X Car, Reg.No.AMQ-020, Model-2006 Chassis No.GRX121-3001124, H.P.3000CC, Color Pearl White
04. Toyota Marks-X Car Reg No.ASP-663 Model 2005 Chassis No.GRX121-1005188 color pearl white H.P 2994 CC
05. Honda Civic Car Reg No.AKY-342 Model 2004 Chassis No.JHMES56804S201499 color Black H.P 1590 CC
06. Toyota Marks-X Car Reg No.BBF-001 Model 2005 Chassis No.GRX120-0045540 color pearl white H.P 2499 CC
07. Toyota Marks-X Car Reg No.ARN-690 Model 2005 Chassis No.GRX120-0021588 color Silver H.P 2500 CC
08. Toyota Surf Jeep Reg. No. BG-0235 Model 2000 Chassis No.VZN185-9047191 color White H.P 3378 CC
09. Toyota Hilux Surf Reg. No. ABC-600 Model 1997 Chassis No.KZN185-9022690 color Silver 2982 CC
10. Toyota Prado Jeep, Reg No. WAA-225, Model 1996 Chassis No.VZJ95-0001689 Color Blue H.P 3378 CC
11. Toyota Mark-X Car Reg No. LED-14-7246, Model 2005, Chassis No.GRX121-1005846 color Pearl White H.P 3000 CC
12. Toyota Corolla X Reg No. AGS-666, Model 2001, Chassis No. NZE124-3003485 Color White H.P 1500 CC
13. Suzuki Swift Car Reg No. BCF-996, Chassis No.ZC11S-166252, 1300CC , Model 2006, Color Silver
14. Toyota Mark-X Car having dummy/fake Reg plate / Mark ASY-789 Karachi, Chassis No. GRX120-0067707, 2499cc Model 2006, Color Pearl White
15. Toyota Surf Jeep having dummy/fake Reg. plate / Mark BF-8481, Chassis No. RZN185-0045234, 2700cc Model 2001, Color Pearl White
16. Toyota Premio Car having dummy/fake registration plate / Mark ARL-786, Chassis No. ZZT240-5014560, Engine No.INZ-A477200, 1794cc Model 2003, Color Pearl White
17. Toyota Prado Jeep having dummy/fake registration plate / Mark GS-0864, Chassis No. KZJ95-0061884, 2982cc Model 1997
18. Honda Civic Reborn (Hybrid) Car, without Registration plate/Mark, ASP-765 Karachi Chassis No.FD3-1005399, Engine No.DAA-FD3, 1300 CC Model 2006, Color Silver
19. Toyota Surf Jeep having dummy/fake Reg plate / Mark BC-5511, Chassis No. VZN185-0357462, Model 2001, Color Golden
20. BMW-(545i Series) Car, having dummy/fake registration plate / Mark without Registration plate/Mark, Chassis No.WBANB32070B360916 ,Model 2004, Color Black,
21. Suzuki Swift Car having dummy/fake Reg plate / Mark AWA-248, Chassis No.ZCI 1S-123498, Model 2005, Color Black
22. Toyota Vitz Car having dummy/fake Reg. plate / Mark BDA-756, Chassis No. KSP90-2067642, Model 2008, 1000 cc Color White,
23. Toyota Mark-X Car having dummy/fake registration plate / Mark AZU-931, Chassis No. GRX120-0040846, Model 2005, 2500 cc Color White,
24. Honda Accord Car, having dummy/fake registration plate / Mark Reg. No. AXY-881, Chassis No. CL7-3006381, Model-2003, Color Silver
25. Old & Used Toyota Land Cruiser Jeep Bearing Registration No. 493301 (Bahrain), Chassis No. JTMDU09J3E5087856, Engine No. 1GRB000618, Model 2014, 4000CC, Color Pearl White
26. Old & Used Toyota X Corolla Bearing Registration No. AWV-409 (Karachi), Chassis No. ZZE122-3001965, 1500CC, Model 2000, Color Silver
27. Old & Used Toyota Mark-X Registration No. ARV-871 (Karachi), Chassis No. GRX120-0045784, 2500CC, Model 2005, Color Pearl White
28. Old & Used Toyota Corolla Car Bearing Registration No. AAM-180 (Quetta), Chassis No. AE100-002618, Model 1992
29. Old & Used Suzuki Swift Car having Dummy / Fake Registration Plate / Mark AUJ-037 (Karachi), Chassis No.ZC11S-166072 1300CC, Model 2006 Color Silver
30. Old & Used Toyota Hilux Surf Jeep having Dummy / Fake Registration Plate / Mark E-1412, Chassis No.LN130-7023698 Engine No. 2L-3254319, Model 1992, Color Black
31. Old & Used Toyota Land Cruiser Lexus LX-470 Jeep bearing Registration Plate / Mark. CC-52-33 (unregistered) Chassis No.UZJ100-0016994, Engine No.2UZ-0026202, Color Rose Mist, Model 1999, 4700CC
32. Old & Used Toyota Land Cruiser Jeep (Cygnus)having Registration Plate / Mark AJKF-8208 Chassis No.UZJ100-0160781, 4663CC.Model 2006, Color Pearl White
33. Old & Used Toyota Mark-X Car Regd No.AAK-405, Chassis No.GRX121-1005389, 3000CC, Model 2005 Color Pearl White
The SECP has been constantly clarifying that mere registration of a company, does not authorize it to solicit deposits from the general public or offer investment schemes.
It has been observed recently that a company namely “Econex Sales and Marketing (Private) Limited” is offering various packages to attract the public to its unlawful business activities of multi-level marketing (MLM) and referral marketing.
The said company is using its registration status with SECP to win public confidence, deceptively implying that such activities are being undertaken through SECP’s regulated platform.
As clearly provided in the explanation of section 301 of the Companies Act, 2017, raising unauthorized deposits from the general public, indulging in referral marketing, MLM, Pyramid, and Ponzi Schemes are unlawful activities in terms of explanation of section 301 of the Companies Act, 2017.
The SECP, in accordance with the provisions of the Companies Act, has initiated necessary legal action against M/s Econex Sales and Marketing (Private) Limited.
In view of the foregoing, the general public is hereby expressly advised in their own interest to be careful, not to invest their hard-earned money or indulge in illegal schemes launched by this company, actively being propagated through social media accounts and pages.
The same caution may be exercised in the case of any other company involved in any illegal deposit-taking, unauthorized investment, or MLM schemes.
ISLAMABAD: Federal Tax Ombudsman (FTO) has declared an amnesty scheme for customs clearance of stolen imported cars without legal action.
Customs authorities’ decision about clearance of stolen imported cars under Transfer of Residence, Baggage Scheme or Gift Scheme upon payment of redemption fine and taxes without following any legal provision has been decleared illegal by the Federal Tax Ombudsman.
In an own motion investigation, the FTO Islamabad found that the decision taken in Customs conference held at the then CBR (FBR) on 02.08.2006 was illegal.
The FTO’s investigation committee also underlined that without following due legal procedures such decisions will promote illegal import of stolen vehicles and facilitate international criminal activities.
In this connection, FTO issued notices to Federal Board of Revenue (FBR). The FBR submitted report that Customs collectorates in Sialkot and Peshawar had cleared six and three such stolen imported vehicles in 2007 and 2013-2014 respectively.
The FTO also recommended FBR to direct all Collectorates of Customs and other concerned authorities to stop these illegal practices forthwith.
The Customs authorities were also directed that the stolen imported vehicles either should have been returned to authorities of the country from where vehicles were stolen after receiving occurring expenses or these vehicles should have been confiscated and disposed of through public auction.
The committee also recommended FBR to direct MCC Sialkot to seize identified six vehicles and take appropriate legal action against importers involved in such illegal businesses.
The FTO ordered a report from the competent authorities to be submitted within 45 days. Earlier, the FTO took the Own Motion in connection of the decision taken in Customs Conference held at the then CBR (FBR) on 02.08.2006, in which it was decided that the Collectorates may clear stolen imported vehicles after imposition of 30 percent redemption fine under the Provision of Customs Act 1969 while no action should be taken unless recognized agency of the foreign country approaches government of Pakistan.
The Federal Board of Revenue (FBR) has raised concerns over a significant number of officers in BS-19 and BS-20 who have been found non-compliant with the mandatory filing of asset declarations.
ISLAMABAD: Federal Finance Minister Shaukat Tarin on Wednesday asked federal and provincial authorities to work together to resolve pending taxation matters for finalizing tax harmonization at the earliest.
ISLAMABAD: The President of Pakistan, Dr. Arif Alvi has said that the economy of the country is heading in the right direction. It reflects the confidence of the business community in the economic policies of the government.
Analysts at Arif Habib Limited said that the first day of the month saw range-bound activity with sideboard scrips performing better than blue chips.
The index swayed +209 points and -65 points. Volumes and price-performance were witnessed in TPLP, TELE, WTL, and HUMNL out of which TPLP and TELE hit upper circuits and maintained that level till closing.
Banks, Cement, Fertilizer, Power and Refinery sectors ended the session in red, whereas Technology sector led the Index. Among scrips, WTL topped the volumes with 162.2 million shares, followed by TELE (45.1 million) and GGL (31.5 million).
Sectors contributing to the performance include Banks (-33 points), Cement (-14 points), Autos (-12 points), Technology (+40 points), Engineering (+13 points), and Fertilizer (+12 points).
Volumes increased substantially from 378.8 million shares to 536.6 million shares (+41 percent DoD). The average traded value also increased by 2 percent to reach US$ 86.1 million as against US$ 84 million.
Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL, and TREET, which formed 52 percent of total volumes.
Stocks that contributed positively to the index include TRG (+29 points), LUCK (+12 points), FABL (+10 points), EPCL (+9 points), and ENGRO (+8 points). Stocks that contributed negatively include HBL (-18 points), MCB (-15 points), MEBL (-14 points), INDU (-11 points) and PSEL (-9 points).
KARACHI: The US dollar made gains for the third consecutive day against the Pak Rupee (PKR) on Wednesday. The local currency fell due to external payment demand.
The PKR fell by Rs1.25 against the greenback during the last three days of trading. The rupee ended at Rs165.62 to the dollar on Friday, August 27, 2021.
