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Promotion of regional trade govt’s top priority: Dawood

ISLAMABAD: Advisor to Prime Minister on Commerce Abdul Razak Dawood Tuesday said the government’s resolve to work for achieving economic, social and cultural development in the South Asian region by combating common challenges of poverty, unemployment, terrorism, transnational crimes and climate change. “South Asia has huge potentials for transforming development landscape of our region and to achieve this, South Asian ... Read More »

Pakistan Customs to launch internship programme for students from June 2020 

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Tuesday met heads of the National University of Sciences and Technology (NUST) and Lahore University of Management and Sciences (LUMS) to discuss participation in internship programme to be launched by Pakistan Customs. Pakistan Customs has decided to launch an internship programme for the university students from June 2020 aimed at ... Read More »

Sajid Aziz Meer, Mirza Qasim Baig elected president & general secretary of LCAA

LAHORE: Lahore Customs Agents Association (LCAA) issued notification declaring results of elections of office-bearers. According to the notification issued by Chairman Election Commission Mian Ziaul Qayyum, following members are elected as office-bearers of the Association:- Sajid Aziz Meer of M/s Meer Brothers International as president Farooq Hassan of M/s Ports Way as senior vice-president Abdul Sattar Gujjar of M/s Sheen ... Read More »

Under DG Farooq Naser Awan’s supervision, NAB Karachi makes recoveries of Rs57b

KARACHI: In compliance with the direction of Chairman NAB Justice (R) Javed Iqbal and NAB’s motto “Our Faith, Corruption Free Pakistan”, NAB Karachi organized an Anti-Corruption walk in line with the International Anti-Corruption Day which is observed every year on 9th December. NAB Karachi arranged awareness walk followed by seminar on “Corruption Free Pakistan – Accountability for All”, prize distribution and ... Read More »

Pakistan & Russia ink deal for investment, trade

ISLAMABAD: Pakistan and Russia have signed their largest-ever deal worth billions of dollars for expanding trade and business ties, Pakistani officials have announced, according to a report by RT. Russian Minister of Industry and Trade Denis Manturov is leading a 64-member delegation on an official four-day visit to Pakistan, and the deal includes huge investments in energy, rail and steel ... Read More »

Faisalabad ASO seizes smuggled LEDs worth Rs70m

FAISALABAD: Customs Anti-Smuggling Organization (ASO) has confiscated foreign origin smuggled LED sof Q brand worth Rs 70 million during a successful raid on a godown locaed in Jhang Bazar. Sources told Customs Today that Additional Collector Enforcement Ghulam Nabi Kamboh received credible information about smuggling of electronic items. After receiving the tip off he immediately formed a raiding party under ... Read More »

China agrees to exempt duty on 313 Pakistani products from Jan 1, 2020

ISLAMABAD: China agreed to exempt duty on 313 Pakistani products worth $7 billion to $8 billion under second China Pakistan Free-Trade-Agreement (FTA) from January Pakistan can now become a major exporter of goods with China providing duty relief on all its major exports. China’s new offer covers 88% of Chinese global imports, 91.3 of imports from Pakistan and 83% of ... Read More »

Multan Customs to enhance cooperation with other collectorates to curb smuggling

MULTAN: Collectorate of Customs Preventive has decided to enhance cooperation with other collectorates to curb smuggling in the jurisdiction. Collector Customs Preventive Muhammad Saleem has implemented new strategy of after approval of FBR Chairman Shabbar Zaidi  for strategizing anti-smuggling campaign in coordination with other collectorates to curtail smuggling. In the line of new strategy Pakistan Customs is going to deploy ... Read More »

Customs Court sends suspects to jail in HSD smuggling case

KARACHI: The Customs Court sent suspects Fazal Bacha son of Shah Muhammad and Muhammad Javed son of Bacha Khan to Central Jail on judicial remand in a case of attempting to smuggle 10090 liters high speed diesel. On 9 December 2019, investigation officer of Anti-Smuggling Organization (ASO) produced the above mentioned suspects before the court and informed that on an ... Read More »

Nepra slaps Rs50m fine over K-Electric

KARACHI: The National Electric Power Regulatory Authority’s (NEPRA) has imposed an amount of Rs 50 million as fine upon K-Electric directing the power utility to ensure fully secured power distribution system by April 2020. The power regulator has also directed the utility providing electricity to Karachi to ensure third party evaluation of its power distribution system. Scores of people died ... Read More »

FBR chairman calls for proper collection of cotton ginning sales tax

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi directed officials concerned to ensure proper collection of sales tax on cotton ginning. Taking to Twitter, he said: “In case of cotton ginning industry output sales tax at the rate of 10 percent is collected / paid by purchasers. Field formations, especially those in cotton growing areas, to ensure that ... Read More »

KPT shipping intelligence report Dec 9

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier) OP-II Karachi D. Crude Oil PNSC 07/12/19 ALONG SIDE (East Wharves): 1 Hankuk Chem D. Chemical East Wind 08/12/19 4 BBC Diamond L. Gen. Cargo Project-Sh 04/12/19 5 Minoan Grace L. Clinkers OC-Services 07/12/19 ... Read More »

BRT, Malam Jabba references are ready: NAB chairman

ISLAMABAD : National Accountability Bureau (NAB) Chairman retired justice Javed Iqbal said on Monday that the accountability watchdog has tightened its noose around plunderers of national wealth or they have made their getaway. The bureau’s chairman addressed a ceremony organised in Islamabad on the International Anti-Corruption Day, and asserted that the government has never interfered in the internal matters of ... Read More »

Pakistan & ADB ink accord for $1.3b loan

ISLAMABAD: The Asian Development Bank (ADB) and Pakistan on Monday struck a loan agreement of $1.3 billion for budgetary support and reforms of the country. This will help stabilise the foreign exchange reserves of the country, and strengthen Pakistan’s slowing economy. Federal Minister for Economic Affairs Hammad Azhar was present on the occasion, while Economic Affairs Division Secretary Syed Pervaiz ... Read More »

Customs Court extends remand of suspect booked in foreign origin cloth smuggling

KARACHI: The customs court extended the physical remand of suspect namely Shah Khalid son of Abdul Qadir and sent him back to customs lock-up, who was booked in a case of attempting to smuggle foreign origin cloth total valuing of Rs13,111,371. On 7 December 2019, investigation officer produced the above mentioned suspect before the court and informed that on actionable ... Read More »

FBR extends date to install POS system for retailers till Dec 15

ISLAMABAD: The Federal Board of Revenue (FBR) extended the deadline for retailers to register with tax authorities and install automated point-of-sale (PoS) systems at outlets across the country to Dec 15. The FBR had worked out a comprehensive plan to install PoS systems at outlets across the country within two months to document sales of big retailers who are, as ... Read More »

CDWP approves eight development projects worth Rs31.4b

ISLAMABAD: Planning Commission Deputy Chairman presided over a meeting of Central Development Working Party (CDWP) and approved eight projects worth Rs 31.4 billion and recommended 03 projects worth Rs. 40.22 billion to ECNEC for consideration. Projects related to Devolution and Area Development, Energy, Governance, Physical Planning and Housing, Science and Technology, Transport and Communications, Water Resources were presented in the ... Read More »

Peshawar I&I seizes chars & opium worth Rs22.46m

PESHAWAR: Directorate of Customs Intelligence and Investigation has seized chars and opium from a Toyota Corolla GLI motor car at M-1 Peshawar motorways toll plaza in value of millions. According to details information was received by Director Rashid Habib that a huge quantity of contrabands narcotics will attempt to smuggled from Peshawar side, the Director ordered the drug cell to ... Read More »

PM Imran to launch ‘Report Corruption App’ today

ISLAMABAD: Prime Minister Imran Khan is all set to launch ‘Report Corruption App’ today (Monday). Sources privy to the development said the app will help the masses to report complaints against the corruption. In this regard, a launching ceremony will be held today’s evening, sources said and added that it will be attended by federal and the provincial ministers. Prime ... Read More »

Provinces underspend on development, return Rs 202b to Center

ISLAMABAD: Pakistan’s four provinces transferred a cash surplus of Rs202 billion to the Center, from amongst the funds earmarked for development projects. The amount was provided in the first quarter of the current fiscal year. According to the website of the ministry of finance, the revenue surplus accumulated as the provincial governments spent less on various development and infrastructure projects ... Read More »