SBP Penalty Challenged: Court Grants Injunction in Import Case
RIAA Barker Gillette obtains interim injunction against State Bank of Pakistan penalty, emphasizing due process in foreign exchange regulations during Pakistan's economic crisis, as an exception to the ouster clause in FERA 1947.
RIAA contributes to landmark report on climate change impact
RIAA Barker Gillette’s recent report on the impact of climate change on business decisions in the rice and cement industries reveals an urgent need for businesses to align with climate protection strategies. Led by Mazhar Bangash, the study highlights that while Pakistan’s legislative framework shows promise, there is a significant gap in effective implementation, emphasizing the critical need for more decisive action to foster sustainable development.
RIAA Barker Gillette PK Advises Leading Foreign Mining Company on Balochistan Acquisition
RIAA Barker Gillette, Pakistan's premier law firm, recently advised a major foreign mining company on its proposed acquisition of significant copper mining assets in the Chagai district of Balochistan, Pakistan.
Star Hydro Power Wins Landmark Tariff Dispute Arbitration
RIAA Barker Gillette client Star Hydro Power Limited (SHPL) secured a crucial victory in its tariff dispute arbitration with the National Transmission and Dispatch Company (NTDC). The arbitral award, issued under LCIA rules, confirmed the contractual tariff under the Power Purchase Agreement between SHPL and NTDC.
The Insurance Rules 2017 – Comparison with Insurance Rules 2002 and the Securities and Exchange Commission (Insurance) Rules 2002
The Insurance Rules, 2017 (“2017 Rules”) were promulgated by the Securities and Exchange Commission of Pakistan on 9 February 2017, which repealed the Insurance Rules, 2002 (“2002 Rules”) and the Securities and Exchange Commission (Insurance) Rules, 2002 (“SEC Rules”).
Increasing tax revenues has proven to be a significant challenge for recent Pakistani governments. The stagnation of the tax to GDP ratio to around 10 percent has widely been attributed to a host of inter-connected factors including weak enforcement, fragmented revenue administrations, low compliance by taxpayers, generous and distortionary exemptions and concessions to entire sectors of the economy and narrow tax bases.
Memorandum on Companies Ordinance, 2016 – Salient Changes
The Companies Ordinance, 2016 (the “2016 Ordinance”) was promulgated on 11 November 2016 and repealed the Companies Ordinance, 1984 (the “1984 Ordinance”), save for the provisions appearing in Sections 282A to 282N of the 1984 Ordinance relating to Non-Banking Finance Companies. This memorandum outlines the material changes brought about by the 2016 Ordinance.
