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Author Archives: Saleem Jadon

KCCI seeks business-friendly environment

KARACHI: Acting President of the Karachi Chamber of Commerce and Industry (KCCI), Muffasar A Malik, has stressed the need for ensuring a pro-business environment in Pakistan. Exchanging views with a 14-member delegation of officers from National Management College Lahore who were on a visit to KCCI on Monday, Malik suggested that in order to enhance Pakistan’s revenue, the decision makers, ... Read More »

Traders worried, transporters satisfied over KP blockades

PESHAWAR: The traders associated with the Afghan Transit Trade and transporters have expressed different views over the prevailing situation on the transit trade routes in Khyber Pukhtunkhwa. Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) President Zahidullah Shinwari raised concern over the situation saying that the political leaders should have taken the stakeholders into confidence before launching the blockade which ... Read More »

Textile exports increases by 7.5pc

LAHORE: Overall textile exports rose by 7.5% in the current fiscal year up to now as compared to the same period in previous fiscal year as textile sector exports stand at $4.7b this fiscal year until now. According to Pakistan Bureau of Statistics (PBS) data on exports, textile exports contribute 60 per cent of the country’s annual exports. Exports counted ... Read More »

FBR receives proposals to facilitate foreign investors

ISLAMABAD: Federal Board of Revenue has received three tax policy proposals from the Board of Investment (BoI) for fixation of an investment threshold to grant tax holidays to foreign investors, reduction in corporate income tax rate and cut in the standard rate of 17 percent sales tax, sources said. Sources said that BoI had requested its Executive Committee Members to ... Read More »

Dastgir in Romania to fetch support for GSP Plus status

ISLAMABAD: Engineer Khurram Dastgir Khan, Minister of State for Commerce and Textile Industry visited Bucharest, Romania, to mobilise support of Romanian parliamentarians in the European Parliament for their support for Pakistan’s candidature of GSP Plus status in the European Union. The other objective of the visit was to kick start the bilateral trade and investment relations between the two countries, ... Read More »

Directorate I&I Balochistan claims 100 seizures despite shortage of staff

KARACHI: Directorate of Intelligence and Investigation, Balochistan has claimed to have made around 100 seizures in ongoing calendar year. According to official sources, despite the shortage of staff of 27 personnel responsible for carrying out anti-smuggling operations in the province coupled with the insurgency-like situation which badly hampers the movement of intelligence staff, the Directorate has performed exceptionally well during ... Read More »

FBR to extend assistance to provinces

ISLAMABAD: Federal Board of Revenue (FBR) has assured provinces of full assistance towards strengthening provincial revenue authorities through introduction of tax reforms including drafting of tax laws/regulations for tax enforcement and increasing sales tax collection from services’ sector, sources said. Sources say that the issue of FBR’s co-ordination with provinces in fiscal matters was discussed during the last meeting of ... Read More »

FBR to minimise chances of tax evasion, issue ruling for valuation

ISLAMABAD: Federal Board of Revenue is identifying several import items that are prone to under-invoicing in a move to assess their actual value for levying customs duty and allied taxes, senior official of FBR have said. Wrong declarations and under-invoicing result in a significant loss of revenue. FBR Chairman Tariq Bajwa has said that products at high risk of being ... Read More »

New ‘solution’ for swifter cargo clearance in Qatar

AMMAN: A long-standing demand of the country’s importers for swifter Customs clearance of cargo at the airport and seaport has been met with the formation of a Freight Solutions Committee. HE the Minister of Transport Jassim Seif Ahmed al-Sulaiti said the committee’s formation was already helping importers considerably as their cargoes were being cleared “in record time”. Underlining the importance ... Read More »

Dubai Customs to celebrate National Day on 28th

DUBAI: Dubai Customs is set to celebrate UAE’s 42nd National Day on Nov 28, by a number of different events at Dubai Customs’ main building and the emirate’s 20 land, sea and air Customs centres. Ahmed Butti Ahmed, Executive Chairman of the Ports, Customs and Free Zone Corporation and Director General of Dubai Customs, extends his warmest greetings and sincere ... Read More »

Qatari ambassador visits Jordan Customs Department

AMMAN: Qatari Ambassador to Jordan Zayed Bin Saeed Al-Khiyarein has visited Jordan Customs Department (JCD) to look into its expertise in Customs affairs. The ambassador met with Director General of the JCD Munthir Al Assaf and discussed ways of further boosting economic relations between Jordan and Qatar as well as administrative cooperation in Customs fields. Read More »

US Customs agents seize $1.3m worth of methamphetamine

CALEXICO: A Mexicali resident was detained after US Customs and Border discovered roughly $1.3 million worth of methamphetamine hidden in his vehicle at the east port. According to the case court complaint, the incident occurred when the driver of a 2002 Ford pickup, Ernesto Gonzalez Solano, was referred to secondary for closer inspection. Following x-ray scans and canine alerts to ... Read More »

20kg gold seized at Shahjalal airport in Dhaka

DHAKA: Customs officials have seized 160 gold bars weighing 20kg from a flight at Hazrat Shahjalal International Airport in the capital. The gold was dumped in a lavatory bin of a flight of Regent Airways which landed at the airport around 5:15am, said Wazed Ali, assistant commissioner of Customs. None was arrested in this connection. The gold bars were found ... Read More »

Sri Lanka Customs on strict vigil for gold smugglers to India

COLOMBO: Sri Lankan Customs spokesman Leslie Gamini has said that the department is keeping a close watch on passengers, especially on Chennai and Mumbai flights, moving out of the Bandaranaike International Airport. He said local authorities have arrested several such smugglers to India in the recent past. The smugglers take advantage of the comparatively low prices of gold in Sri ... Read More »

Govt urged to take action against investors for importing used cars illegally

LAHORE: Pakistan Automotive Manufacturers Association (PAMA) Director General Abdul Waheed and Pakistan Association of Automotive Parts Accessories Manufacturers (PAAPAM) Chairman Usman Malik have alleged that the importers of used cars are involved in illegal activities and urged the government to hold them accountable for violating the constitution of Pakistan. In a joint statement, both the traders’ leaders said that the ... Read More »

Reduce forex cap to $3,000 for travellers: Customs suggests SBP

KARACHI: Pakistan Customs has urged the State Bank of Pakistan to change the regulations on taking out foreign currency abroad by an individual and has suggested the SBP to reduce it to $3,000 from $10,000 or cap an amount of $25,000 per annum to a person. According to Collector Model Customs Collectorate (MCC) Preventive S M Tariq Huda, the passengers, ... Read More »

APTMA urges India to open its market to Pakistani goods

KARACHI: All Pakistan Textile Mills Association (APTMA) Chairman Yasin Siddique has urged the Indian authorities to remove non-tariff barriers (NTBs) to boost bilateral trade between the two neighbouring countries. Speaking while welcoming the 15-member delegation of Indian journalists led by Mumbai Press Club President Gurbir Singh at APTMA house, Siddik said that Pakistan’s business community has welcomed the most-favoured nation ... Read More »

Dubai Customs promotes The Big 5 Dubai 2013 exhibition

DUBAI: Dubai Customs has enhanced its activities to boost mega events in the city through customs facilitations offered to participants. Pre-arrangements are being carried out to ensure they benefit from the temporary admission system for their goods, under which exhibitors are relieved from paying customs duties till the events in which they are partaking end and they are to take ... Read More »

Customs warning as Sydney school kids recruited to import illegal drugs

SYDNEY: Australian Customs officials has revealed that an international crime syndicate is using Sydney high school students as drug mules, with two teenagers already facing possible charges. Officers from the Australian Customs and Border Protection Service are contacting parents and principals at three schools in the city’s inner-west amid revelations students have been paid to accept packages from China. The ... Read More »

Indian woman held for smuggling 26kg gold

KERALA: A woman accused of smuggling 26 kg of gold from Dubai two months back has been detained nearby Chavakad. Arifa Faris (27) was held at Chavakad on an order by the Principal Secretary, Home Department, N Radhakrishnan. Police said the charge against her was that she had thrice smuggled 26kg of gold on behalf of Fayaz, an accused in ... Read More »