Latest news with #ShahidHamid
Business Recorder
29-07-2025
- Business Recorder
Shahid Hamid murder case: ATC acquits 2 MQM workers
KARACHI: An Anti-Terrorism Court (ATC) in Karachi has acquitted two suspects in the 1997 murder case of former Karachi Electric Supply Corporation (KESC) Managing Director Shahid Hamid, citing lack of evidence. The prosecution failed to prove the charges against the two accused, Minhaj Qazi and Mehboob Ghufran, who were allegedly linked to the Muttahida Qaumi Movement (MQM) London. The court ordered their immediate release, noting that neither suspect is named in any other pending cases. According to the defense lawyer, Mushtaq Ahmed, Minhaj Qazi had already been acquitted in all prior cases. He argued that the First Information Report (FIR) and the complainant's statement were vague, with the complainant only mentioning seeing Saulat Mirza, another accused, outside the vehicle at the time of the incident. Ahmed stated that there was no mention of Minhaj Qazi in the FIR and no concrete evidence linking him to the crime. The prosecution stated that Shahid Hamid, along with his driver and guard, was killed in a targeted shooting in Karachi's Defence Housing Authority on July 5, 1997. Saulat Mirza, a key accused in the case and an MQM worker, was convicted, and executed in 2015 at Machh Jail in Balochistan. Minhaj Qazi and Mehboob Ghufran were the remaining suspects in the case, which has now concluded with their acquittal after nine years of trial.
Business Recorder
09-05-2025
- Business
- Business Recorder
Experts say Tax Ordinance will harm investment climate
LAHORE: A diverse group of businessmen, legal experts, tax specialists and journalists believed that the recently promulgated Tax Laws (Amendment) Ordinance 2025 will do more harm to business and investment climate of the country without any significant tax-collection benefit contrary to the anticipations of the government and Federal Board of Revenue (FBR). They expressed their concerns during a consultative session convened on Thursday under the PILDAT Business Policy Programme. The session, chaired by former Punjab Governor Shahid Hamid, discussed the implications of the recently promulgated ordinance on Pakistan's business and investment environment. Renowned tax expert Dr Ikramul Haq delivered the keynote address and presented the detailed analysis of the Ordinance and its implications for the country in general and businesses in particular. The session included an exchange of views on how the ordinance may affect various sectors, with participants expressing concern over the lack of prior consultation with the business community and their representative organisations, such as the chambers of commerce, the growing complexity of the tax system and the negative signals sent to potential investors. The speakers also referenced Pakistan's persistently low tax-to-GDP ratio, hovering around 9.2 percent, and the steady decline in ease-of-doing-business rankings as indicators that more systemic and transparent tax reforms are needed. They recommended that major fiscal reforms must be thoroughly debated in the Parliament and through structured engagement with the business community before implementation. The continued practice of introducing significant economic changes through ordinances, without consultation or parliamentary scrutiny, was widely criticised for undermining business confidence and eroding investor confidence. Serious concerns were expressed over the proposed deputation of legal and enforcement officials to business centres, which participants viewed as a reflection of the government's lack of trust in the business community. It was emphasised that such measures risk adding a new layer of potential corruption and reinforcing a perception that businesses are being treated as suspect entities under surveillance, rather than as partners in national economic development. Many participants questioned the utility and sense of deploying physical surveillance staff in this day and age of digital technology. The session also underscored the need to invoke and strengthen the Alternative Dispute Resolution (ADR) mechanism to address tax-related issues in a transparent, amicable, and business-friendly manner, thereby reducing litigation and building trust between taxpayers and the state. Earlier, PILDAT President Ahmed Bilal Mehboob emphasised the critical importance of stakeholder dialogue and transparency in tax reform processes. He noted that while tax reform is essential for improving revenue generation, the process must be inclusive and consultative to ensure credibility and compliance. Copyright Business Recorder, 2025
