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Author Archives: M Hayat

Govt asked to rationalize detention & demurrages charges in upcoming federal budget

LAHORE: The government should rationalize the detention and demurrages charges to provide relief to the commercial and industrialist importers in the federal budget 2020-12 at least amid till the COVID-19 ends. The government should take special measures to reduce customs duties on raw-materials for commercial and industrial importers to encourage manufacturing to enhance export volume. This was stated by PALIMA ... Read More »

Budget 2020-21: Traders, Industrialist seeks reduction in customs duty & other taxes

LAHORE: The Pakistan Industrial and Traders Associations Front (PIAF) has called for a relief-focused budget 2020-21 for trade and industry as well as the general public, suggesting the government to make visible reduction in customs duty and taxes, helping revive the businesses, which are near to bankruptcies owing to worldwide lockdowns amidst coronavirus. PIAF chairman Mian Nauman Kabir, in a ... Read More »

Customs ASO recovers Rs150m illegally imported vehicles, goods, contraband items

LAHORE: Customs Preventive Anti-Smuggling Organization (ASO) recovered over Rs 150 million illegally imported tires, cigarettes, dry milk, welding rods, betel nuts, cloths, china salt, ceramics tiles, shisha flavor, cars, and land cruisers in various raids in the city. Sources told Customs Today that on the directions of Collector Preventive Basit Maqsood Abbasi, the ASO team under the supervision of Assistant ... Read More »

ST, FTR, BTL, duty & tax slabs need to be rationalized

CNIC condition on transactions does not seem logical and be removed at once in larger national interest: LCCI ex- vice president LAHORE: A far-reaching policy in federal budget 2020-21 about the exorbitant and illegal detention and demurrage charges plucking the wings of the shipping lines and the private port terminal operators should be announced to provide relief to the commercial ... Read More »

Trade & industry minister for implementation of SOPs in markets

LAHORE: Provincial Industries & Trade Minister Mian Aslam Iqbal has said that complete monitoring will be carried out in order to review implementation on SOPs in the markets. He disclosed that he would himself conduct surprise visits of the markets along with the administration and warned that if violation of SOPs is found in any shop then not only the ... Read More »

Govt asked to take strong measures to avoid food security issue: Kh Khawar Rasheed

  LAHORE: Locust swarms have destroyed wheat, cotton, vegetables and other crops at vast scale in different parts of the country that should be a matter of serious concern for all or after COVID-19 the calamity seems to hit hard the agricultural economy of the country. This was stated by Punjab Economic Council (PEC) chairman and Lahore Chamber of Commerce ... Read More »

Customs Preventive seizes smuggled dry milk, China salt & khopra powder

LAHORE: Collectorate of Customs Preventive has confiscated smuggled dry milk, China salt and Khopra powder. Sources told Customs Today that Collector Customs Preventive Basit Maqsood Abassi received information from his sources about illegal smuggled dry milk, China salt and Khopra powder dumped in a godown near Akbari Mandi. The collector immediately constituted an anti-smuggling team consisting Assistant Collector Salman Javaid, ... Read More »

FPCCI regional chief for withdrawal of FBR officers’ discretionary powers

LAHORE: The trade and industry leaders have urged the Federal Board of Revenue (FBR) to withdraw the discretionary powers vested with the tax officials to avoid their misuse, providing relief to the taxpayers, simplify taxation law and restoring the diminishing confidence of the assesses in the taxation department. Dr. Muhammad Arshad, Regional Chairman & Vice President and Zakaria Usman, Convener, ... Read More »

Call to evolve strategy to overcome locust swarms to save economy

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Ali Hussam Asghar  has urged provincial and federal governments to draft an effective strategy to overcome locust swarms issue, which is wreaking havoc in the country, posing serious food security risks amid Covid-19. He said this while talking to Customs Today here Saturday. Ali said that there is an ... Read More »

LCCI demands to curtail FBR powers to freeze bank accounts for tax recovery

LAHORE: Federal Board of Revenue (FBR) has been told to give up powers of tax officials related to freezing bank accounts for tax recovery. Lahore Chamber of Commerce and Industry (LCCI) in its budget proposals for 2020/2021 submitted to the FBR highlighted provisions of Income Tax Ordinance, 2001 regarding accessing bank accounts for tax recovery. Under Section 140 of the ... Read More »

Taxpayers asked to file complaints about duty drawbacks to Member Customs

  LAHORE: The Federal Board of Revenue (FBR) in order to facilitate taxpayers urged the taxpayers to file complaints regarding customs duty drawbacks, if any, to the Member Customs, Federal Board of Revenue. The Board as a part of government’s policy in the current challenging time, FBR is in the process of devising a transparent centralized system for issuance of ... Read More »

Punjab will seal boarders to curb wheat smuggling

LAHORE: All borders of Punjab will be sealed curbing wheat smuggling from the province which will bring down the price of wheat also. This was stated by Senior Minister Punjab Abdul Aleem Khan who was informed at a high level meeting that the procurement limit of wheat has been exceeded after which the province has a total stock of 4.3 ... Read More »

FBR orders customs field formations to ensue services to taxpayers

LAHORE: Federal Board of Revenue (FBR) has taken notice of the practice by customs and inland field formation whereby taxpayers are being deprived of the services in the name of COVID-19 precaution.  The matter is being considered with grave concern that customs and inland revenue field offices, unilaterally decide for closure of offices without approval of the Board while dealing ... Read More »

Pak-India trade trough Attari-Wagah border most likely to be resumed

LAHORE: The trade between India and Afghanistan through Attari-Wagah border is most likely to be restarted after Eid-ul-Fitr holidays (from May 25 to 27) in Pakistan, sources said. “We have already got a letter from the Centre, instructing us to be prepared as the trade between the two countries will be started soon,” the sources said. The Indian government had ... Read More »

Over 175 Pakistani stranded in India returned home

LAHORE: Over 175 Pakistani stranded in India returned through the Wagah border on Wednesday, customs officials said.  Upon their arrival, immigration and customs clearance and screening was carried out in accordance with anti-coronavirus measures in place, claimed officials. The border, which had been closed due to the coronavirus pandemic, was opened exclusively for their return. These Pakistani citizens had been ... Read More »

Customs duty collection falls 10pc to Rs32.9b

LAHORE: Government collected Rs32.85 billion under the head of custom duties in April down 10 percent year-on-year as sinking imports dwarfed the advantage of relatively improving port activities during the last month. Sources told Customs Today, three major customs collectorates  jointly collected Rs36.43 billion in corresponding month of the last year. There was a decline in April although consignment clearance ... Read More »

Customs superintendent Younis Qadri defeats COVID-19 as test report marked twice as negative

  LAHORE: Directorate of Customs Investigation and Intelligence (I&I) Anti-Smuggling Superintendent Younis Qadri has defeated Coronavirus as his second test has been accessed as negative.  The customs Lahore I&I superintendent Younis Qadri has been shifted to his home. Earlier, Younis Qadri had been tested positive for COVID-19 and admitted to 1000-bed quarantine hospital established at the Expo Centre Lahore in ... Read More »

Proposals for budget 2020-21: FPCCI demands examination before filing GDs

LAHORE: Pakistan Customs has been advised to allow examination before filing goods declaration (GDs) in order to verify contents of containers. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Anjum Nisar urged the government in its proposals for budget 2020/2021 submitted to the FBR that as per provison of para 1 Section 79 of Customs Act, 1969, ... Read More »

Rising smuggling activities: Anti smuggling crackdowns accelerated

LAHORE: Following rising smuggling activities in Punjab, customs anti smuggling squads has accelerated crackdowns as during the past ten days, Customs Central Region has thwarted over a dozen of major smuggling attempts in Central and Southern Punjab. On Tuesday late night operation near Zahir Peer, Rahim Yar Khan, the Customs staff of MCC Multan intercepted two 10 wheeler trucks containing ... Read More »

FBR extends time period for utilization of exports goods up to August 31

ISLAMABAD: The Federal Board of Revenue (FBR) in exercise of its powers under section 224 of the Customs Act, 1969 has extended utilization period up to August 31, 2020. A large number of manufacturers-cum-exporters availing following export concessionary regimes have approached the Board with the plea that on account of the prevailing situation they could not export their finished/output goods ... Read More »