In an important development for overseas Pakistanis, the Islamabad High Court has ruled that a complaint under the Illegal Dispossession Act 2005 filed through a special attorney is maintainable. The Sessions Judge-III, Islamabad (East) had previously dismissed a complaint filed through a special attorney on the grounds that a valid complaint under the Illegal Dispossession […]
We are pleased to announce that Sarjeel Mowahid and Ahmed Reza Mirza from our team wrote the Pakistan chapter for Lexology‘s Foreign Investment Review providing a detailed background to the legal and regulatory framework governing foreign investments in the country.
COVID-19’s outbreak has called for many industries to immediately change their approach towards the Pandemic. The industry most severely affected is the pharmaceutical industry and in lieu of this Barrister Shahrukh Iftikhar and his team at ABS & Co, have drawn up this alert outlining the influence of COVID-19 on medicine and therapeutic drugs. The […]
In a significant development for the banking sector, a five-member bench of the Lahore High Court has dismissed a set of petitions challenging the constitutionality of section 15 of the Financial Institutions (Recovery of Finance) Ordinance 2001. Banks are now entitled to sell mortgaged property without the intervention of the court and recover their debt(s) […]
A common problem that arises in construction contracts is the Engineer’s failure to give his determination or decision within the time stipulated in the contract. Under FIDIC’s 1999 Red Book, a contractor can file a claim under Sub-Clause 20.1 of the GCC for extension of time and/or additional payment. In Pakistan, contractors are often faced […]
This note summarizes some of the key changes being made to the legal and regulatory framework as part of the FATF Bills.
On May 15, 2020 the government notified major changes to the Public Procurement Rules (PPRA) 2004 by introducing new concepts such as E-procurement, Framework Agreements and Unsolicited Proposals. This note summaries some of these changes.
This client alert provides a brief overview of the steps taken by the State Bank of Pakistan (SBP) to dampen the effect of the economic dislocation(s) caused by COVID-19. This includes relief for businesses not just in the manufacturing sector but also those in construction, logistics, FMCG, tourism and automobile sectors. This note summaries some […]