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Ex-FATA industries' sales tax deemed "unconstitutional"

11:25 PM | 6 Dec, 2023
Ex-FATA industries' sales tax deemed

ISLAMABAD – The Supreme Court (SC) declared the implementation of taxes to be "unconstitutional," ruling that the Ghee and Steel industries of the former Fata/Pata enjoy complete amnesty from paying sales tax until June 30, 2024. 

The petitions submitted by industries in the former Federally Administered Tribal Areas (Fata) and Provincially Administered Tribal Areas (PATA) were heard by a four-member court led by Justice Syed Mansoor Ali Shah.

The Peshawar High Court's (PHC) ruling, which supported the tax's implementation, was overturned by the SC on the grounds that the tax imposed on the steel and ghee sectors under articles 151 and 152 of the Sixth Schedule to Sales Tax Act was discriminatory and outside the bounds of the Constitution.

The petitioner's attorney contended in the hearing that there was no discernible difference that could be used to distinguish between these two industries.

The attorney said, "Not only were these two sectors singled out, but they are also at a disadvantage compared to their competitors in established areas." The bench accepted the industry's appeals after finding concurrence with the attorneys.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 27 Feb 2024

Pakistani currency remains largely stable against US dollar in the open market on February 27, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 76.7.

Today’s currency exchange rates in Pakistan - 27 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 303 306
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207 209
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.56 40.96
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36
 
26.66
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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