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Author Archives: CT Report

Customs AFU foils bid to smuggle Boostin injections through parcels

KARACHI: Collectorate of Customs Preventive ASO team deputed at Air Freight Unit (AFU) foiled a bid to smuggle huge quantity of Boostin injections through parcel worth million of rupees. Sources toldCollector Irfanur Rehman directed to enhance vigilance on suspicious courier parcels and detained them. Sources told that credible information was received about smuggling of Boostin injections through parcels. Acting on ... Read More »

FBR urged to allow time extension to taxpayers for making compliance in audit notices

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the tax authorities to allow time extension to taxpayers for making compliance in audit notices of tax year 2014. In a letter sent to Ms. Nausheen Javaid Amjad, Chairperson, Federal Board of Revenue (FBR) on Friday, the PTBA urged to grant an extension of time under Section 214A of the Income Tax ... Read More »

FBR asks 140 officers to submit performance evaluation reports

ISLAMABAD: The Federal Board of Revenue (FBR) has directed 140 officers of BS-17 to submit their performance evaluation reports (PERs), otherwise their names will not be considered for promotion. The FBR has issued a list of 140 officers of Grade 17, out of which 108 officers are from Inland Revenue Service (IRS) and remaining 38 from Pakistan Customs Service (PCS). ... Read More »

Appraisement East directs staff to follow extended working hours on June 29-30

KARACHI: Collectorate of Customs Appraisement and Facilitation (East) Assistant Collector Shahzad Ali has issued notification directing staff to observe extended working hours on June 29 and 30. A circular issued in this regard read as “In compliance of the FBR’s decision communicated through letter no: C.No./2(I)L&P/2007 dated 24.6.2020, the Collectorate will remain open and observe extended working hours till 10 ... Read More »

OGRA takes notice of LPG price hike

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has taken notice after Liquefied Petroleum Gas (LPG) marketing companies have increased the price of LPG by Rs5 per kg, following the increase in the petroleum prices earlier. According to details, LPG marketing companies have increased the price of gas for the second time in a week. After the increase, the price of ... Read More »

Gold on course for third weekly gain as coronavirus cases spike

NEW YORK: Gold prices edged up on Friday en route to a third straight weekly gain, as a spike in coronavirus cases dashed hopes of a quick economic recovery. Spot gold rose 0.1 per cent to $1,762.41 per ounce by 0953 GMT, having soared to a peak since October 2012 at $1,779.06 on Wednesday, putting it on course for a ... Read More »

KPT shipping intelligence report June 26

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 Pacific Julia D.Mogas GAC 24/06/20 ALONG SIDE (East Wharves): 2 Winter Sun L. Ethanol East Wind 24/06/20 4 Bernina L. Clinkers Crystal Sea 26/06/20 5 Ceylon Princess L. Clinkers Crystal Sea 24/06/20 10/11 ... Read More »

Govt hikes petrol price by Rs25.58 per litre with immediate effect

ISLAMABAD: The federal government on Friday decided to increase the prices of petroleum products. According to details, the federal government has decided on Rs25.58 per liter increase in the price of petrol and Rs21.31 per liter in that of High Speed Diesel (HSD). The government also decided an increase by Rs23.50 in the price of Kerosene Oil and Rs17.84 per ... Read More »

Govt hikes petrol price by Rs25.58 per litre with immediate effect

ISLAMABAD: The federal government on Friday decided to increase the prices of petroleum products. According to details, the federal government has decided on Rs25.58 per liter increase in the price of petrol and Rs21.31 per liter in that of High Speed Diesel (HSD). The government also decided an increase by Rs23.50 in the price of Kerosene Oil and Rs17.84 per ... Read More »

NAB strongly believes in “Zero Corruption, 100p% Development”:  Chairman Javed Iqbal

ISLAMABAD:  Justice Javed Iqbal, Chairman National Accountability Bureau (NAB) has said that NAB strongly believes in “Zero Corruption, 100% Development”. NAB absolutely committed to root out corruption with iron hands in an atmosphere of renewed energy and dynamism, where fight against corruption is being taken as national duty. He said these remarks while chairing a meeting of NAB DGs via ... Read More »

COVID-19: Multan Customs House building disinfected

MULTAN: Collectorate of Customs Enforcement & Compliance (E& C) Multan has directed to make frequent disinfection spray in the Customs House building to curb Corona Virus (COVID-19). Deputy Collector Headquarter Amjad Aman has directed to adopt strict precautionary measures to contain COVID-19 in the building of Customs House and directed employees to wear face mask. Multan Customs Collectorate has directed ... Read More »

KCCI disappointed over meager reduction in policy rate

KARACHI: Chairman Businessmen Group (BMG) and Former President Karachi Chamber of Commerce & Industry (KCCI) Siraj Kassam Teli and President KCCI Agha Shahab Ahmed Khan, have expressed disappointment over a meager reduction of just one percent in Policy Rate by the State Bank of Pakistan, terming it “too little, too late”. They stated that for a long time even before ... Read More »

Pak Rupee weakens by 31 paisas against USD

KARACHI: The Pak Rupee weakened by 31 paisas against dollar on Friday owing to higher demand for import and corporate payment as fiscal year ending next week. The rupee ended Rs167.67 to the dollar from previous day’s closing of Rs167.36 in interbank foreign exchange market. Currency dealers said that the local unit was under pressure due to demand related to ... Read More »

Pakistan to diversify exports into engineering, pharmaceutical products: Razak Dawood

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood on Friday said that Pakistan is rapidly diversifying its exports into high quality and globally competitive engineering and pharmaceutical products while reducing its dependence on five traditional export sectors. The adviser to the prime minister while chairing an internal review meeting to discuss the finalisation of Strategic ... Read More »

Unilever Pakistan to rebrand Fair & Lovely

KARACHI: Unilever Pakistan announced on Thursday that it will be rebranding its flagship brand Fair & Lovely. To make the brand more inclusive, the company would stop using the word ‘fair’. The new name of the product would be announced after the necessary regulatory approval, a statement said. “The brand is committed to celebrating all skin tones,” it added. Unilever ... Read More »

FBR promotes 10 principal appraisers as assistant collector BS-17

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for promotion of following superintendents of preventive and valuation in BS-7 with immediate effect and until further orders:- Details are as under:- Muhammad Khalid, Superintendent, RTO, Gujranwala. Mehmood Ahmad Nasir, Superintendent, CRTO, Lahore. Manoo Mal Galwani, Superintendent, MCC, Hyderabad. Amjad Lal Junejo, Superintendent, RTO, Hyderabad. Ms. Kausar Jabeen, Superintendent, RTO-II< Karachi. Samasam ... Read More »

FBR promotes 10 principal appraisers as assistant collector BS-17

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for promotion of following superintendents of preventive and valuation in BS-7 with immediate effect and until further orders:- Details are as under:- Muhammad Khalid, Superintendent, RTO, Gujranwala. Mehmood Ahmad Nasir, Superintendent, CRTO, Lahore. Manoo Mal Galwani, Superintendent, MCC, Hyderabad. Amjad Lal Junejo, Superintendent, RTO, Hyderabad. Ms. Kausar Jabeen, Superintendent, RTO-II< Karachi. Samasam ... Read More »

All field offices of Pakistan Customs to observe extended working hours on June 29-30

ISLAMABAD: Federal Board of Revenue (FBR) on Friday said that the ollectorates of Customs will observe extended working hours on June 29 and 30, 2020 to facilitate trade and business in payment of duty and taxes. The FBR said that all filed offices of customs will remain open and observe extended working hours till 10:00 PM on June 29, 2020 ... Read More »

Director Customs I&I Yaqoob Mako seizes smuggled goods worth Rs200m in joint operation with Karachi Police

KARACHI: In a joint operation Anti-Smuggling Organization (ASO) of Customs Intelligence and Investigation and Karachi Police recovered huge quantity of smuggled goods from warehouses in Yusuf Goth. Director I&I Karachi Yaqoob Mako in coordination with Additional IG Police Ghulam Nabi Memon planned a massive crackdown on warehouses in Yusuf Goth. A team headed by Deputy Director Saad Rabbani was formed, ... Read More »

Govt confident of achieving FBR tax collection target: Hammad Azhar

ISLAMABAD  – Minister for Industries and Production Hammad Azhar said the government was confident of achieving the Federal Board Revenue (FBR) tax collection target of Rs 4.96 trillion set in the budget 2020-21. While concluding discussion on the Finance Bill 2020-21 in the National Assembly here, the minister said those who were considering the target as ambitious should know that ... Read More »