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Author Archives: CT Report

Collector Appraisement transfers appraisers, inspectors

LAHORE: Collectorate of Customs Appraisement and Facilitation Mughalpura Dryport, Deputy Collector Mohammad Nauman Tashfeen issued orders for transfer and posting of 4 appraisers and 32 inspectors with immediate effect and until further orders:- Details are as under:- 1. Appraiser Faryal Amber from Appraisement Hall to DTRE 2. Appraiser Razia Yaqoob from Appraisement Hall to PRV Cell 3. Appraiser Qasim Khan ... Read More »

Gold price gains Rs800, traded at Rs90, 300 per tola

ISLAMABAD: The per tola price of 24 karat gold appreciated by Rs 800 on Saturday and was traded at Rs 90,300 as compared to Rs 89,500 on last trading day, Karachi Sarafa Association reported. Likewise, the price of 10 gram gold witnessed increase of Rs 686 and was traded at Rs 77, 418 against last closing of Rs76,732. The price ... Read More »

SECP to extend ‘one-stop’ shop facility for company registration to Balochistan, KP

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) will extend its “one-stop” shop facility for company registration to Balochistan and Khyber Pakhtunkhwa. SECP Commissioner Shaukat Hussain addressed the launching ceremony of the provincial government of Balochistan’s plan for Transformation of Traditional Businesses into Corporate Bodies in Islamabad. He apprised the audience that the SECP’s e-services have already been integrated ... Read More »

FBR detects 10,000 individuals involved in tax evasion

ISLAMABAD: The Federal Board of Revenue (FBR) investigations have unearthed that close to 10,000 people were allegedly involved in tax evasion and possible money laundering after tracing their cash transactions. According to media, FBR is also looking into affairs of non-governmental organisations (NGOs) and international non-governmental organisations (INGOs) for their alleged involvement in money laundering and terror financing. FBR sources ... Read More »

Govt to introduce more incentives for exporters in next budget: Razak Dawood

KARACHI: Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Industry and Production on Saturday said that the ministry of commerce is planning a comprehensive strategy with the help of Federal Board of Revenue (FBR) to introduce export incentives in the next federal budget 2020/2021. Razak Dawood was addressing during his visit to Karachi Chamber of Commerce and Industry (KCCI). ... Read More »

A weekly review: Stocks surge by 883.75 points as ME tensions mitigate

KARACHI: The Pakistan Stock Exchange (PSX) in the outgoing week witnessed massive overall spike in its gains as local and foreign investors rampaged across the market to quickly hit upper circuits after the war clouds hanging over the region due to US-Iran hostilities dissipated which provided the investors the much-needed comfort to move funds from gold and money market back ... Read More »

Pakistani Rupee extends gains against US dollar

KARACHI: `The rupee extended gains for the second straight session in both the currency markets on Friday, as soft dollar demand and easing concerns over US-Iran war hysteria helped the currency rise. In the inter-bank market, the rupee closed at 154.83 to the dollar, compared with the previous closing of 154.88. The rupee also managed to gain 50 paisas against ... Read More »

Workers remittances cross $11394.91 during 1H of FY2019-20

KARACHI: Overseas Pakistani workers remitted US$ 11394.91 million in the first half (July to December) of FY20, showing a growth of 3.31 percent compared with US$ 11030.01 million received during the same period in the preceding year. During December 2019, the inflow of workers’ remittances amounted to US$ 2097.23 million, which is 15.25 percent higher than November 2019 and 20% ... Read More »

FIA files case against two customs employees

LAHORE: The Federal Investigation Agency (FIA) registered a case against two Customs officials for embezzling Rs140 million worth of foreign currency. According to sources, FIA officials said the agency has filed the case against Customs inspector and in-charge storehouse of valuable godown Lahore Khalid Parvaiz Bhutta, and former in-charge Muhammad Yousaf Khan and others. Sources disclosed that FIA made the ... Read More »

KPT shipping intelligence report Jan 10

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier) OP-II Karachi D. Crude Oil PNSC 10/01/20 ALONG SIDE (East Wharves): 1/2 Ginga Cougar D. Base Oil GAC 09/01/20 13/14 Almar L. Clinkers Crystal Sea 10/01/20 16/17 San Sebastian D. DAP WMA Shipcare 06/01/20 ... Read More »

PM Imran inaugurates state-of-the-art Azakhel Dry Port

NOWSHERA: Prime Minister Imran Khan Friday inaugurated the newly constructed state-of-the-art Azakhel Dry Port to provide quality transportation and logistics services to people with assistance of Pakistan Railways. The Prime Minister formally inaugurated Azakhel Dry Port by unveiling the plaque. Governor Khyber Pakthunkhwa, Shah Farman, Chief Minister Khyber Pakthunkhwa, Mahmood Khan, Federal Minister for Railways, Sheikh Rasheed Ahmed, Defense Minister ... Read More »

PSX witnesses bullish trend, 100-Index moves above 43,000 points

KARACHI: The Pakistan Stock Exchange (PSX) continues to show upward trend on the last trading day of the week. The benchmark KSE-100 Index witnessed a massive recovery and at the opening bell, the index went up by 638 points to cross the level of 43,000 points. The market is currently trading at 43,161 points level. This is the highest level ... Read More »

CNIC condition: FBR, traders resume talks

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday met with representatives of traders’ to review progress on the agreement towards implementing CNIC condition on sale and purchase of goods from Feb 1. This was the first time both sides have met since the relief package for traders was announced through a Presidential Ordinance in December 2019. Acting Chairperson Nausheen Amjad, ... Read More »

Oil prices fall further as threat of Middle East war recedes

TOKYO: Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East receded and investors switched attention to economic growth prospects and the rise in U.S. crude oil and product inventories. Brent crude LCOc1 fell 20 cents, or 0.3%, at $65.17 by 0240 GMT, and is heading for its first decline in six ... Read More »

Pakistan approaches US court against levy of $6b fine in Reko Diq case

WASHINGTON: Pakistan has asked a US federal court to pause an Australian copper company’s bid to enforce a $6 billion arbitral award while it looks to have the award nixed, reports Law360, a New York-based legal publication. Tethyan Copper Co. Pty Ltd won the award last summer following a dispute over the rejected Reko Diq mining project in Balochistan. Pakistan ... Read More »

FBR assigns look after charge to Wasif Memon

ISLAMABAD: Federal Board of Revenue (FBR) assigned look after charge to Chief Collector of Customs Enforcement Wasif Ali Memon. A notification issued in this regard read as “Wasif Ali Memon, a Pakistan Customs Officer/BS-21 presently posted as Chief Collector of Customs (Enforcement), Karachi is assigned to look after the charge of Director General, Directorate-General of Customs Valuation, Karachi in addition ... Read More »

FBR issues procedure for refund/adjustment of ST for steel & ghee mills

ISLAMABAD: Federal Board of Revenue (FBR) (Inland Revenue Policy Wing) has issued general procedure for adjustment/refund of sales tax. Follow up to the STGO 105 of 2019 dated 13.9.2019 following instructions as (I) (a) shall be considered as part of the STGO 105/2019 after sub para (I) of para 2. Steel sector-re-rollers and composite units: It is clarified that work ... Read More »

ADC Port Qasim re-distributes work among assistant, deputy collectors

KARACHI: Collectorate of Customs Port Mohammad Bin Qasim Additional Collector Headquarters Syed Fawad Ali Shah issued office order for re-distribution of work among assistant and deputy collector with immediate effect and until further orders:- 1. Deputy Collector Ms. Zamzam Aman from Group-I and IV, MIS-II, bank guarantee and import section to Group-II and V-II, MIS-II, bank guarantee and import section. ... Read More »

Father of special secretary finance Omar Hameed Khan passes away

ISLAMABAD: Ministry of Finance spokesman and special secretary Omer Hameed Khan’s father Wing Commander ® Chaudhary Abdul Hameed died today (Friday) after prolonged illness. He was 98. Late Chaudhary Abdul Hameed during his service as Wing Commander of Pakistan Air Force rendered valuable service for our motherland. He was counted as one of the most professional officer of PAF. He ... Read More »

Special secretary finance’s father passes away, funeral to be held tomorrow

ISLAMABAD: Wing Commander Chaudhry Abdul Hamid (retd), the father of Omar Hamid Khan, Special Secretary Finance & Spokesperson Finance Division, passed away here Friday after a protracted illness. He was 98. The deceased had been bedridden for some time due to illness and breathed his last this morning at a local hospital. The body of the deceased would be taken ... Read More »