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Author Archives: Waqar Ahmed Ansari

 FBR to cancel ST Registration Nos of importers for evading tax

KARACHI: The Federal Board of Revenue (FBR) will cancel Sales Tax Registration Numbers (STRNs) of commercial importers, who have wrongly obtained ‘manufacturing’ status of products to evade taxes at the import stage. A senior officer of FBR told the media that the Directorate of Intelligence and Investigation Inland Revenue (IR) Karachi has caught many such cases in which  importers have ... Read More »

Rate of doing business reduced

Karachi: The government has decided to reduce Ease of Doing Business Rate from 100 to 86. The Investment Board will offer loans and facilities for small businesses. According to the Board of Investment, the survey has been completed for easy business and that is why, the rate if doing business has been lowered. In the survey, a report has been ... Read More »

KCAA camp office inaugurated at Customs House

KARACHI: Chief Collector-Enforcement (South) Muhammad Nazim Saleem inaugurated the camp office of Karachi Customs Agents Association (KCAA) at Customs House Karachi. Collector-MCC (Preventive) Syed Muhammad Tariq Huda, Collector-MCC Appraisement (East) Najeeb-ur-Rehman Abbasi, Additional Collector-MCC Preventive Shafqat Ali Khan Niazi and other Customs officials were also present on the occasion. On the occasion, President KCAA Ifthikar Shaikh and General Secretary Faisal ... Read More »

Finance Ministry blames sit-ins for rupee depreciation, debt increase

KARACHI: The ongoing political impasse has resulted in depreciation of rupee and the ongoing sit-ins of the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek have forced foreign dignitaries to postpone their visits to Pakistan, according to the Finance Ministry. It is feared that prices of essentials will go up due to destruction of standing crops and increase in imports. This has ... Read More »

Dearth of space at PICT mars exports

KARACHI: The Pakistan exports are feared to decline as dearth of space has occurred at Pakistan International Containers Terminal (PICT) and the ports. The sources said importers show reluctance in delivery of their consignments despite clearance due to imposition of heavy damages and detention charges. The sources said this thing has caused shortage of space at the PICT. The sources ... Read More »

First vegetables consignment sent via Karachi Port lands in UAE

KARACHI: The first consignment of vegetables from Pakistan to UAE via sea route has reached its destination. The first 25 tons consignments of vegetables comprised peppers, lady finger, lemon and other vegetables. After successful sending of first consignment via sea route, now it has been decided to export at least five containers of 25 tons vegetables in a week. Durrani ... Read More »

Delay in return of deposits by BOML perturbs customs agents

KARACHI: Customs agents are facing a lot of difficulties due to delay in return of deposits by BOML Containers. The highly-placed sources told Customs Today on Friday that customs agents have to make frequent visits for return of deposit amount after they return the containers. The amount deposited under the head of deposits is returned even after one month. The ... Read More »

FBR extends date for filing IT returns till October 31    

  ISLAMABAD: The Federal Board of Revenue (FBR) has extended the last date for filing of income tax returns till October 31 to facilitate the taxpayers. Earlier, the last date was September 30.  The date has been extended on the direction of Finance Minister Ishaq Dar.  The FBR has established 200 desks for this purpose to facilitate taxpayers. The one-month ... Read More »

Customs agents concerned over delay in clearance at KICT, QICT

KARACHI: The Karachi Customs Agents Association President Iftikhar Ahmad Shiekh has expressed deepest concerns over delay in clearance of consignments, even after the installation of new computer-based WeBOC system at the terminals of the Karachi Port and the Port Qasim. He told Customs Today that importers still have to wait days for clearance of their consignments even customs had installed ... Read More »

1,000 FBR officials yet to pay taxes

ISLAMABAD: The officers of the Federal Board of Revenue (FBR) have not paid tax even they have the responsibility to collect taxes from others. The FBR officials have claimed that there were only 70 officials who did not file their tax returns but sources told Customs Today that there were approximately 1,000 tax officers who didn’t file returns for the ... Read More »

FBR delays issuance of Rs 650 million to Sindh Excise Dept

KARACHI: The federal government has not returned Rs 650 million to the Sindh Excise Department. The Sindh government has decided to take up the issue again with the federal government with full vigour while the provincial government has stopped increase in taxes levied on vehicles imposed by the federal government. According to the details, federal government had deducted Rs 650 ... Read More »

Customs Agents decorate Kakalia Hall at Customs House

KARACHI: The construction and decoration work, started by Karachi Customs Agents Association at Kakalia Hall of Karachi Customs House, is in its final stage. As per details, Karachi Customs Agents Association has started decoration work at customs house to give it modern mode. The association has given the responsibilities of decoration to Karachi Customs Association Joint Secretary Khursheed Alam Khan ... Read More »

Importers lament theft incidents at PICT

KARACHI: Traders and importers have expressed their deepest concerns over growing theft incidents at the Pakistan International Containers Terminal (PICT) during last few months. Sources told Customs Today that traders and importers were of the view that these incidents are now testing their nerves as customs authorities were not taking any action. On the other hand, they said, delay in ... Read More »

Jam Mehtab suspends food inspectors for corruption

KARACHI: Provincial Food Minister Jam Mehtab Hussain while taking action corrupt officials of departments Tuesday suspended six food inspectors and two assistant food inspectors from service. The minister also sent their cases to NAB and Anti-Corruption for legal action so that looted money could be brought back from them. Sources in the Food Department said that the suspended food officials ... Read More »

First vegetables consignment sent to UAE via Karachi Port

KARACHI: The first consignment of 25 tons comprising a variety of vegetables was sent to UAE via sea route on Monday. The director of the company which deals with vegetable export Babar Durani said the vegetables export through sea route has been done for the first time . Earlier, vegetables were sent to UAE through aeroplanes . He said that ... Read More »

Customs staff threatened for foiling smuggling bid of rare turtles

KARACHI: The Airport Cell of the Karachi Customs is facing threats after it foiled a smuggling bid of rare turtles. Sources in the Customs Department told Customs Today that a passenger namely Shahid Cheema was travelling from Karachi to Bangkok on night between September 19 and 20 when X-Ray machine detected suspected bags in his luggage. On search by the ... Read More »

WeBOC fails to ease importers’ woes at ports

KARACHI: Importers and clearing agents have expressed deepest concerns over delay in clearance of consignments, even after the installation of new computer-based WeBOC system at the terminals of the Karachi Port and the Port Qasim. Sources told Customs Today that importers still have to wait days for clearance of their consignments even customs had installed WeBOC system at terminals but ... Read More »

SBP to announce monetary policy today

KARACHI: The State Bank of Pakistan will announce monetary policy today. Financial experts say that the SBP will maintain the previous policy due to floods and political turmoil in the country. According to sources, the SBP will announce the monetary policy in a press conference here on Saturday and there are strong chances that discount rate would remain at 10 ... Read More »

Expo Pakistan Exhibition postponed: TDAP chief Muneer

KARACHI: Trade Development Authority of Pakistan (TDAP) Chief Executive S M Muneer has disclosed that ‘Expo Pakistan Exhibition’ has been postponed for three months due to sit-ins in the federal capital. He said this while addressing a reception in his honour hosted by Federal B Area Association of Trade and Industry. Association President Sheikh Muhammad Tehsin, Patron-in-Chief Feroz Alam Lari, ... Read More »