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Author Archives: M Hayat

Customs agents seek LCCI help over Lahore Dry Port

LAHORE: The Lahore Chamber of Commerce and Industry has agreed to extend full support to Customs Clearing Agents to make Lahore Dry Port profitable again. LCCI President Engineer Sohail Lashari, Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar were talking to a delegation of Lahore Customs Agents Association led by Muhammad Amjad Chaudhry. LCCI former President Muhammad ... Read More »

High speed vessel service in the offing: Michael

ISLAMABAD: Federal Minister for Ports and Shipping, Senator Kamran Michael said that Ministry of Ports and Shipping will introduce a new business venture of high speed food vessel service between Pakistan and Gulf region very soon. The minister said that more than 95 percent of exports and imports were taking place through ports and shipping but trader of food items ... Read More »

Fruit exports up 44.64pc in 1st quarter

Lahore: The exports of fruits from the country increased by 44.64 percent during the first quarter of the current fiscal year as against the same period of last year. The overall fruit exports during July-September (2013-14) were recorded at $92.027 million against the exports of $63.624 million in July-September (2012-13), according to Pakistan Bureau of Statistics (PBS). In rupees term, ... Read More »

MCC anti-smuggling force seizes rare Buddha statue

LAHORE: Anti smuggling wing of Lahore Model Customs Collectorate MCC has seized a statue of Buddha at the Allama Iqbal Lahore. According to details the statue was being smuggled to Karachi from Lahore. Sources said that the statue of mahatma Budha was purchased from Taxila and was being smuggled to Karachi for sending abroad. The sources said that Customs anti-smuggling ... Read More »

Customs officials foil bid to smuggle 370g heroin to Birmingham

LAHORE: Pakistan Customs’ anti-smuggling unit at the Allama Iqbal International Airport has foiled a bid to smuggle 370g heroin to Birmingham. As per details, Sky Net courier service found a suspicious parcel of ten chess boards for Birmingham, UK and informed the Customs authorities. The Customs officials immediately reached the spot and seized 370 gram heroin stuffed in 10 chess ... Read More »

RTO Multan surpasses tax collection target for September by Rs 758m

MULTAN: Regional Tax Office (RTO) Multan has achieved 98.01 per cent of its tax collection target in the first quarter (July-September) of fiscal year 2012-13. Sources in RTO Multan told that Federal Board of Revenue (FBR) had given a tax collection target of Rs 12977 million and Regional Tax Office (RTO) Multan recovered Rs 12720 million which was 98.01 per ... Read More »

Cooperation between Customs Dept, business community vital for progress: Junaid Akram

LAHORE: Mutual understanding, harmony and cooperation between the Customs Department and business community can play a vital role in the progress and prosperity of the country. This was stated by Collector of Customs Junaid Akram while inaugurating the first ever branch of the National Bank of Pakistan at the Wagah Border. “We need to bridge the gap between the Customs ... Read More »

PRA will be collecting Rs100b in 5 years: Iftikhar Qutab

LAHORE: In its short life the newly established Punjab Revenue Authority (PRA), has many milestones to its credit. Besides finalizing its administrative structure and developing rules and regulations and working procedures, it has also met its target of collecting revenue of Rs 37 billion Sales Tax on Services within the first year of its initiation. Before the PRA was set ... Read More »

RTO-II Chief Commissioner for early execution of refund, ST cases

LAHORE: Regional Tax Office (RTO)-II Chief Commissioner Dr Arshad Khan assured early redressal of pending refunds and sales tax cases to a delegation of importer, exporters and traders, who visited the RTO-II under the leadership of former LCCI president. The RTO-II chief commissioner said that there is no reason that the refunds are being delayed except the shortage of the ... Read More »

Economic wellbeing linked to media’s constructive role

LAHORE: In order to attract investment and promote economic wellbeing in the country, media which is a powerful tool needs to highlight positive news items as well. This was stated by Nishat Group of Companies Chairman Mian Mansha while speaking at the conference on ‘Investment Climate: Way Forward & Role of Media’ arranged by Media Advocacy Centre here at the ... Read More »

Simplification of tax collection process underway: Mujtaba

LAHORE: Simplification of tax collection system is afoot in Punjab, said Provincial Minister for Finance, Excise & Taxation Mian Mujtaba Shujaur Rehman. He said the government would take solid and practicable steps to facilitate taxpayers and minimize procedural formalities and practical difficulties. Property tax, motor vehicle tax and tax on services are major sources of provincial income, he said, adding, ... Read More »

MCC arranges new NBP branch at Wahga Border

LAHORE: In order to facilitate importers and exporters, National Bank of Pakistan in collaboration with Lahore Model Customs Collectorate is opening its new branch at Wahga Border. Inauguration ceremony will be held at 12am on Wednesday, October 2. Junaid Akram Collector Customs Lahore (Preventive), Sohail Lashari President Lahore Chamber of Commerce and Industry and Sohail Shaukat Butt MNA Lahore will ... Read More »

Customs Agents body greets LCCI’s new office-bearers

LAHORE: Lahore Customs Agents Association has welcomed the newly-elected body of Lahore Chamber of Commerce and Industry (LCCI). Muhammad Amjad Chaudhry while greeting the newly-elected officer-bearers of LCCI including President Sohail Lashri, Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar said that PIAF-Alliance has been struggling for the cause of the business community of the city. He ... Read More »

LSE gains 68.13 points

LAHORE: Lahore Stock Exchange on Tuesday witnessed bullish trend by gaining 68.13 points as the LSE-25 Index opened with 4328.05 and closed at 4396.18 points. The market’s overall situation also corresponded to an upward trend as it remained at 3.227 million shares to close against previous turnover of 2.824 million shares, showing an upward move of 402,300 shares. While, out ... Read More »

FPCCI rejects increase in electricity, petroleum prices

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday rejected sharp increase in prices of electricity and petroleum products terming it a cruel decision which will break the back of masses already reeling under inflation. Government has taken electricity out of the reach of the common man under pressure from IMF which cannot be accepted as ... Read More »

APBF urges govt to revise export policy

LAHORE: All Pakistan Business Forum (APBF) urged the government to take business community on board in preparing policies to enhance exports so that fast widening trade deficit could be diminished. The APBF Executive Committee met here with its chairman Nabeel Hashmi in the chair and attended by President Rashid Mehr, Senior Vice President Imtiaz Rastgar, Yaqoob Izhar, Munir Bana and ... Read More »

Customs Houses to remain open on Saturday

LAHORE: Model Customs Collectorates will remain open on Saturday and observe normal working hours on Saturday September 28. However, on Monday September 30 the offices will remain open till 2000 hours in order to facilitate trade and industry in getting their cargo cleared for imports/exports and payment of taxes and duties, according to a notification. Federal Board of Revenue (FBR) ... Read More »

Anti-smuggling scout seizes generator, 125 bags of plastic raw material

LAHORE: The anti-smuggling scout Thursday impounded 125 bags of plastic raw material and a 100KV generator. Official sources said that Customs Inspector Sikandar Bajwa and his team during two separate raids seized plastic raw material worth Rs0.9 million and a generator worth Rs0.8 million. The sources said that the scout raided on two different Mazda trucks at Sagian Pull and ... Read More »

Body formed to probe missing containers case: Kamran Michael

LAHORE: Federal Minister for Ports and Shipping Kamran Michael said that no container can be taken out from any port without clearance by the Customs authorities. Talking to media persons at the Lahore Press Club recently, he said that a committee had been formed to probe into the matter of missing containers and its report would be made public. The ... Read More »

FTO to hold workshop on challenges of Ombudsmanship

LAHORE: Federal Tax Ombudsman (FTO) Abdur Rauf Chaudhry will conduct a two-day workshop on challenges of Ombudsmanship on Wednesday (September 25). FTO Abdur Rauf Chaudhry will inaugurate the workshop while participants of the workshop will discuss the problems. A way-out would also be discussed to overcome the challenges faced by the FTO in resolving the problems of taxpayers. Read More »