SHC issues notice to IO over failure to respond in petition on Alvi account freeze
Pakistan Tehreek-e-Insaf (PTI) National Assembly Member Arif Alvi tabled the bill in the National Assembly last year seeking incorporation of Section 89-A PHOTO: PPI/FILE
Listen to article
The Sindh High Court (SHC) issued on Monday a show-cause notice to the inquiry officer (IO) for failing to respond to a petition filed by former president Dr Arif Alvi challenging the freezing of his and his family's bank accounts.
The court observed that the IO had neither filed a reply nor appeared during proceedings.
A constitutional bench, headed by Justice Muhammad Karim Khan Agha, directed the officer to appear at the next hearing on June 25 and explain the delay.
At a previous hearing, the court had allowed Dr Alvi to withdraw up to Rs1 million from one of the frozen accounts for essential expenses. Other accounts belonging to him, his wife Samina Alvi, and son Awab, remain blocked.
Barrister Ali Tahir, counsel for Dr Alvi, told the court that the National Cyber Crime Investigation Agency (NCCIA) had issued undated letters to private banks ordering the freeze under Section 25 of the Anti-Money Laundering Act 2010, and Section 5 of the FIA Act 1974.
Read: Alvi allowed to withdraw up to Rs1m
The petition argues that the freeze was politically motivated and lacked due legal process. The family alleges the account restrictions have placed them under financial strain.
Last month, SHC had issued notices to the FIA's National Cyber Crime Wing and banks on a petition challenging the freezing bank accounts of Arif Alvi and his family.
During the hearing, Barrister Ali Tahir, informed the court that the blanket freezing of the accounts of Dr Alvi and his family has caused an adverse impact leaving them unable to cover their daily expenses.
The court, while hearing the matter, noted that notices would be sent to all relevant parties and their responses would be sought.
In a brief exchange, the bench remarked that the counsel must have received a fee for representing the case. To which, Barrister Tahir clarified that he was handling the matter pro bono.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
5 hours ago
- Express Tribune
SHC issues notice to IO over failure to respond in petition on Alvi account freeze
Pakistan Tehreek-e-Insaf (PTI) National Assembly Member Arif Alvi tabled the bill in the National Assembly last year seeking incorporation of Section 89-A PHOTO: PPI/FILE Listen to article The Sindh High Court (SHC) issued on Monday a show-cause notice to the inquiry officer (IO) for failing to respond to a petition filed by former president Dr Arif Alvi challenging the freezing of his and his family's bank accounts. The court observed that the IO had neither filed a reply nor appeared during proceedings. A constitutional bench, headed by Justice Muhammad Karim Khan Agha, directed the officer to appear at the next hearing on June 25 and explain the delay. At a previous hearing, the court had allowed Dr Alvi to withdraw up to Rs1 million from one of the frozen accounts for essential expenses. Other accounts belonging to him, his wife Samina Alvi, and son Awab, remain blocked. Barrister Ali Tahir, counsel for Dr Alvi, told the court that the National Cyber Crime Investigation Agency (NCCIA) had issued undated letters to private banks ordering the freeze under Section 25 of the Anti-Money Laundering Act 2010, and Section 5 of the FIA Act 1974. Read: Alvi allowed to withdraw up to Rs1m The petition argues that the freeze was politically motivated and lacked due legal process. The family alleges the account restrictions have placed them under financial strain. Last month, SHC had issued notices to the FIA's National Cyber Crime Wing and banks on a petition challenging the freezing bank accounts of Arif Alvi and his family. During the hearing, Barrister Ali Tahir, informed the court that the blanket freezing of the accounts of Dr Alvi and his family has caused an adverse impact leaving them unable to cover their daily expenses. The court, while hearing the matter, noted that notices would be sent to all relevant parties and their responses would be sought. In a brief exchange, the bench remarked that the counsel must have received a fee for representing the case. To which, Barrister Tahir clarified that he was handling the matter pro bono.
Business Recorder
7 hours ago
- Business Recorder
Gold price per tola falls Rs300 in Pakistan
Gold prices in Pakistan again decreased on Monday in line with their fall in the international market. In the local market, gold price per tola reached Rs358,165 after a gain of Rs300 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs307,068 after it declined Rs257. On Saturday, gold price per tola reached Rs358,465 after a gain of Rs1,465 during the day. The international rate of gold also decreased today. The rate was at $3,366 per ounce (with a premium of $20), a fall of $3, as per APGJSA. Meanwhile, silver price per tola increased by Rs14 to reach Rs3,799.
Business Recorder
9 hours ago
- Business Recorder
Aurangzeb unveils new tax measures, targets poultry, mutual funds & govt securities
Finance Minister Muhammad Aurangzeb unveiled new taxation measures, including levies on income generated from mutual funds and government securities, at the National Assembly on Monday. Addressing the lower house, the finance minister presented three more budget proposals. 'The first of these is to increase the tax rate on income derived from the debt portion of mutual funds issued to companies from 25% to 29%. Secondly, it is proposed to impose a 20% tax on profits made by corporations and companies on investments in government securities,' he said. The government has also proposed to tax the poultry sector, said Aurangzeb. 'It is proposed that a Federal Excise Duty (FED) of Rs10 per day-old chick should be imposed on hatchery chicks, so that this sector can also contribute to the national exchequer,' he said. The finance minister maintained that the government has presented a balanced budget for the fiscal year 2025-26. 'On one hand, we have kept government expenditure under control, while on the other, much emphasis has been laid towards increasing tax base and its compliance,' said Aurangzeb. Imported cotton yarn: APTMA hails 18pc sales tax imposition Aurangzeb said that tariff rationalisation is vital, stating: 'By lowering import duties, our business unit cost would decrease, which will facilitate exports.' He said that the government will soon announce an industrial policy, whereas consultation on EV policy has already been initiated. Moreover, the government, in collaboration with British Asian Trust, would soon launch Pakistan's first Skill Impact Bond (SIB). The SIB links funding to the achievement of outcomes, he said. Affordable Housing The government, in its bid to promote affordable housing, would launch a 20-year loan scheme for the low-income segment, informed Auranzgeb. He clarified: 'Only those dams will be pursued that are already approved.' On Saturday, Aurangzeb, in his address to the Senate, announced key relief measures in the federal budget for FY2025-26, including a significant income tax cut for the salaried class and a reduction in General Sales Tax (GST) on imported solar panels. The finance minister, on Monday, reiterated that individuals earning between Rs600,000 and Rs1.2 million annually will now be taxed at just 1%, down from 2.5% proposed in the budget for FY2025-26. He said that tax has been imposed on individuals receiving an annual pension of over Rs10 million, while, on the special instructions of the Prime Minister of Pakistan, pensioners over the age of 75 are exempt from all types of taxes. Aurangzeb added that the proposed 18% GST on solar panel imports has been lowered to 10%. Powers of FBR Aurangzeb informed the lower house that on the special instructions of the Prime Minister, the existing powers of the FBR regarding tax fraud and the amendments made through the Finance Bill were reviewed once again, under which tax fraud has been categorised into cognizable and non-cognizable offences. 'In cases involving up to Rs50 million, the FBR will not be able to arrest without a court warrant,' he said. In addition, any one of the following conditions must be fulfilled for arrest: 1) the accused deliberately did not become a part of the inquiry despite three notices; 2) the accused tries to escape; and 3) tampers with the record. 'Despite this, the approval for arrest will be given by a high-level three-member committee of the FBR, instead of an officer, and it will be necessary to present the arrested persons before the court of a special judge within 24 hours,' he said. In addition, it will be ensured that no citizen is abused in this process, he added. Real estate sector In the real estate sector, Aurangzeb noted that in the past, people used to buy large properties beyond their declared financial means. Under Section 114C of the Income Tax Ordinance, the Finance Bill proposed to prohibit such people from engaging in large financial activities. 'On the instructions of the prime minister, this new law will not apply to the purchase of residential plots or houses worth up to Rs50 million, commercial plots or properties worth up to Rs100 million and vehicles worth up to Rs7 million,' said the finance minister. Aurangzeb said that the ongoing tensions between Iran Israel are expected to disturb the region's economic situation. However, the government is prepared to deal with any situation, he assured the lower house.
