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Author Archives: M Hayat

Sialkot Customs foils bid to smuggle 40 tolas of gold to Manchester

SIALKOT: Collectorate of Customs team deputed at Sialkot International Airport Tuesday foiled a bid to smuggle 40 tolas of gold ornament from a passenger travelling to Manchester via Dubai on a flight EK 621. Sources told Customs Today that during checking of passengers departing for United Kingdom (UK) Customs Inspector Safdar Mahi on suspension intercepted a passenger Muhammad Farooq of ... Read More »

Customs ASO impounds over Rs810m illegal vehicles & goods

LAHORE: Collectorate of Customs Anti-Smuggling Organization (ASO) has impounded over Rs 810 million illegally imported items and vehicles during the month of September. As per details, under the leadership of Collectorate of Customs Enforcement and Compliance Collector Basit Maqsood Abbasi Anti-Smuggling Organization impounded non-customs paid goods and articles worth Rs810 million. The ASO team that impounded these goods included Additional ... Read More »

Businessmen contributing over Rs2400b in custom duty other taxes to national kitty

LAHORE: The business community has been contributing over Rs626 billion as customs duty, Rs250 billon as federal excise duty (FED) and Rs1596 billion as sales tax to national exchequer and the government should assist employees who were working in the shops and offices of Hafeez Center. The Lahore Chamber of Commerce and Industry on Monday gave an SOS call to ... Read More »

PTBA demands separate zones for sales tax

LAHORE: Pakistan Tax Bar Association (PTBA) has demanded a separate zone for sales tax in an anticipation to increase the tax revenue upto 1000 percent. PTBA president Aftab Nagra and senior vice-president Qari Habibur Rehman Zubari has made this demand in an emergent meeting while other members including Arshad Nawaz Man, Syed Tanseer Bukhari, Sohail Akhtar, Shehbaz Sidique, Sehabaz Qadar, ... Read More »

Demand of irrelevant documents by bankers causing huge demurrage & detention charges to importers: Khadim Hussain

LAHORE: Lack of coordination between Pakistan Customs and State Bank of Pakistan (SBP) has put the importers to face hardships in doing business endangering improving Ease-of-Doing Business Index of the country. This was stated by Lahore Chamber of Commerce and Industry executive committee member and Ferozpur Road traders’ leader while talking to Customs Today. He said that miscommunication between banks ... Read More »

NLC reduces charges for air, road & rail transportation to facilitate businessmen

LAHORE: The National Logistic Cell is providing freight forwarding, cargo handling services, containers, dry ports at the borders and it has reduced the charges for air, road and rail to further facilitate the business community. NLC Chief Executive Officer Col Abdul Qayyum (r) stated this while speaking at the Lahore Chamber of Commerce and Industry here on Tuesday. Officer Commanding ... Read More »

Governor appealed to stop customs officials from unduly checkup of cleared containers

LAHORE: Officials of Customs Intelligence and Investigation (I&I) unduly stop trucks outside and within city limits for examination which are carrying imported goods after clearance. This practice should be stopped as it is causing undue problems. LCCI president Tariq Misbah  made this appeal to the Governor Punjab Chaudhary Mohammad Sarwar in a ceremony at the Governor House Lahore. President LCCI ... Read More »

Businessmen of paper sector seeks reduction in duties & taxes 

LAHORE: Duties and taxes on paper should be reduced to help students get textbooks on cheaper rates. The demand was raised at a meeting at Lahore Chamber of commerce and Industry. Talking with media, the businessmen of paper sector said that in the present circumstances, it is very important to ensure availability of text books at cheaper rates in post ... Read More »

Customs IOCO urged to make duty drawbacks realistic to facilitate exports

LAHORE: All Pakistan Textile Mills Association (APTMA) has sought for upward revision of duty drawbacks on exports to make them realistic with the current incidents of duties and taxes. The existing duty drawback notification was issued about 11 years ago in 2009. Since then, the whole tariff rates have altogether changed and require immediate update. These views were expressed by ... Read More »

LCCI seeks govt’s help to stop uncalled for customs raids

LAHORE: The federal government should help stop uncalled for raids at various business houses by law enforcers as the raids are not only earning a bad name for the government but also hurting businesses very hard. Lahore Chamber of Commerce and Industry LCCI senior vice president has stated this was talking to Customs Today the other day. He said that ... Read More »

Wagha Customs clears around 315 students stranded in IIOJK

LAHORE: Pakistan Customs has cleared around 315 students hailing from Indian Illegally Occupied Jammu and Kashmir  (IIOJK) who reached Pakistan through Wagah border to resume their studies in various educational institutions across the country. Another 100 Pakistanis stranded in India for six months have also return to home country through Wagah border. During one month, this was the second group ... Read More »

FBR asked to stop issuing notices to businessmen

LAHORE: The Lahore Chamber of Commerce and Industry has urged the FBR to immediately stop issuing notices to businessmen as it is not only creating undue harassment among them but also giving a bad name to the government. In a statement the LCCI President Mian Tariq Misbah-ur-Rehman said that in post-Covid era, businesses should be facilitated but unfortunately steps are ... Read More »

Chambers of commerce are drivers of economy: LCCI

LAHORE: Private sector is the engine of growth and its role in policy making will be ensured. The chambers of commerce are drivers of economy therefore a due consideration should be accorded to them while evolving business related policies. This was upshot of speeches of the newly elected office-bearers of the LCCI, who assumed their offices after Annual General Meeting ... Read More »

LCCI elects new body after two-day election

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) elected a new body after two-election nerve testing Corporate and Associate classes election. A total 4751 votes were polled out of 10,670 while 102 votes were rejected due to technical reasons. The PIAF-Founder Alliance got 2477 panel votes while the rivals Lahore Businessmen Front secured only 999 panel votes. Voice of ... Read More »

PTBA seeks up-gradation of Punjab Revenue Authority

LAHORE: Pakistan Tax Bar Association (PTBA) has proposed up-gradation of Punjab Revenue Authority (PRA). PTBA senior vice president and advocate High Court Habibur Rehman Zubari in a letter to the PRA chairperson has proposed that the Punjab Revenue Authority is on track to become a viable institution. In the letter, he said that for achieving the targets, it is proposed ... Read More »

Mian Anjum Nisar for lowering import duty on smuggling prone items

LAHORE: Federation of Pakistan Chambers of Commerce and Industry President Mian Anjum Nisar has called for lowering of import duty on smuggling prone items, increasing the share of direct taxes in revenue and decreasing the slab of indirect taxes to achieve key economic targets set for the year 2020-21. “Both export as well as the local industries should be facilitated. ... Read More »

PIAF-Founders Alliance bags all 8 seats of LCCI Associate Class with thumping margin

LAHORE: The PIAF-Founders Alliance made another clean sweep by winning all the 8 seats of LCCI Associate Class for year 2020-21 paving the way for the Alliance to have its president, senior vice president and vice president. Total 4751 votes were polled out of 10,670 while 102 votes were rejected due to technical reasons. PIAF-Founder Alliance got 2477 panel votes ... Read More »

LCCI polls: PIAF-Founder Alliance clean sweeps first phase

LAHORE: The PIAF-Founders Alliance made clean sweep by winning all the 7 seats of LCCI Corporate Class for year 2020-21. Total 948 votes were polled out of 3179 while 19 votes were rejected due to technical reasons. PIAF-Founder Alliance got 701 panel votes while the other candidates secured only 21 panel votes. Election Commission was consisting Sohail Lashari, Shahid Hassan ... Read More »

There is dire need to diversify exports in terms of markets: Ali Hussam Asghar

LAHORE: In order to achieve a sustainable growth rate, there is a dire need to diversify the exports in terms of markets as about 55 percent of Pakistan’s exports go to ten countries namely, USA, China, UAE, Afghanistan, UK Germany, France, Bangladesh, Italy and Spain. The USA has the largest share of exports (16%) followed by European Countries (11%) in ... Read More »

Chief Collector Faiz Ahmad asked to take action against corrupt customs officers

LAHORE: Punjab Industries, Commerce, Investment & Skill Development Department has urged Chief Collector, Customs, Faiz Ahmad to take strict action against corrupt customs officials and remedial actions should be taken like returning confiscated goods and de-selling sealed premises. The department stated that Lahore Chamber of Commerce &Industry (LCCI) is a premium chamber of Pakistan having more than 28000 members belonging ... Read More »