Types of Trade Association
Khalid Zafar & Associates Blog
by vfadmin
2M ago
For issuance of license to a trade organization should either be a chamber or association of any of the following types: 1. Chamber having minimum of one hundred and fifty members who are either permanently domiciled in the relevant district or have a substantial business interest. 2. Chamber of small traders having a minimum of […] The post Types of Trade Association appeared first on Khalid Zafar & Associates ..read more
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Documents Required for Registration of Trade Organization
Khalid Zafar & Associates Blog
by vfadmin
2M ago
The application of a trade organization shall be accompanied by the following documents: Name and profiles of sponsors of trade organizations; A copy of the national identity card of the authorized representative of the member; Affidavits and Electricity Bills of members; Details of prospective members’ business character, national tax number (NTN) and sales tax registration […] The post Documents Required for Registration of Trade Organization appeared first on Khalid Zafar & Associates ..read more
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Official Secrets Act – Explained in Detail
Khalid Zafar & Associates Blog
by vfadmin
3M ago
Official Secrets Act, 1923 is a colonial law which is applicable to all citizens of Pakistan including military personals, Government servants and political leadership. Even the prime minister and president of Pakistan are not exempted from the operation of this Law. Historically, this law was introduced by Englishmen for the purposes of prevention of spying […] The post Official Secrets Act – Explained in Detail appeared first on Khalid Zafar & Associates ..read more
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Licensing Stages for EMIs (Electronic Money Institutions)
Khalid Zafar & Associates Blog
by vfadmin
3M ago
There are three stages in which the prospective Electronic Money Institution (“EMI”) are granted license by State Bank of Pakistan. First stage is “In Principle” approval. Second stage is “Pilot Operations” approval. Third stage is “Commercial Operations” approval. License Stages are explained below: An “In-Principle” approval shall be granted to the applicant to operate as […] The post Licensing Stages for EMIs (Electronic Money Institutions) appeared first on Khalid Zafar & Associates ..read more
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Licensing Procedure and Conditions for EMIs (Electronic Money Institutions)
Khalid Zafar & Associates Blog
by vfadmin
3M ago
In order to apply for license of an Electronic Money Institution (“EMI”) the following steps/conditions shall be followed: A limited liability company (LLC) whether public or private shall be registered with SECP. The applicant should have capability to efficiently handle all the transactions as an EMI as prescribed under Payment Systems and Electronic Fund Transfers […] The post Licensing Procedure and Conditions for EMIs (Electronic Money Institutions) appeared first on Khalid Zafar & Associates ..read more
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EMI – Electronic Money Institutions
Khalid Zafar & Associates Blog
by vfadmin
3M ago
EMI or Electronic Money Institution means a non-banking entity duly authorized by State Bank of Pakistan to issue means of payments in the form of electronic money. Electronic Money Institutions are entities that offer innovative, user-friendly and cost-effective low value digital payment wallets, prepaid cards, contactless payment instruments and wearables etc. for promoting cashless payments […] The post EMI – Electronic Money Institutions appeared first on Khalid Zafar & Associates ..read more
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Justice Qazi Faez Isa’s Judgment
Khalid Zafar & Associates Blog
by vfadmin
9M ago
Background of the case is that petitioner was distributing/disseminating a prescribed book Tafseer-e-Sagheera which was alleged to be an offence under Punjab Holy Quran (Printing and Recording) (Amendment) Act, 2021. The FIR stated that the aforesaid act was done in the year 2019. The main thrust of the judgment of Honourable Chief Justice Qazi Faez Isa in his judgement dated 06.02.2024 was that under Article 12(1) of the Constitution of Islamic Republic of Pakistan a person cannot punished for an act which is not a crime when it was done. [comment: it is a settled principle of criminology tha ..read more
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Law related to Tree Cutting as Crime and Protection of Trees
Khalid Zafar & Associates Blog
by vfadmin
1y ago
Trees play a vital role in overcoming the environment pollution issues. There are numerous laws which either protect the cutting of the trees or give directions to plant the trees in respect of specific class of people. The laws which are applicable in Punjab, Pakistan with respect to cutting or plantation of trees are discussed as below: The Parks and Horticulture Authority Act, 2012  pertains to green areas, green belts, heritage parks and public parks in Lahore. The Act prohibits tree cutting. The Government may by notification, extend it to any other areas of the Punjab. The Punjab Pl ..read more
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Lahore Smog Issue Laws for Punjab
Khalid Zafar & Associates Blog
by vfadmin
1y ago
Smog is a major problem in the fields of Punjab and specifically in Lahore. The problem gets adverse in October and continues till March each year when air pollution increases due to low wind pressures resulting in poor air quality index resulting in smog. The laws, rules and policies are devised by the Government for tackling the smog issues and the major problem is perhaps implementation of these laws, rules and policies in its true spirit and regulate the actions/omissions of public functionaries to deal with such laws. The laws applicable in Punjab, Pakistan dealing with issues of air poll ..read more
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FEDERAL BUDGET 2023-24
Khalid Zafar & Associates Blog
by vfadmin
1y ago
     Download Pdf version of Budget 2023-24 Some important points from Budget: The government of Pakistan presented budget for fiscal year 2023-24 on Friday. Business Recorder takes a look at some of the key highlights of the documents. o   Economic growth target fixed at 3.5% for fiscal year 2023-24 o   Inflation forecasted to average at 21% o   Tax-to-GDP ratio to stand at 8.7% o   Current account deficit to stand at $6 billion by end of fiscal year 2023-24 o   Government has allocated Rs1.8 trillion f ..read more
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