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SCCI welcomes announcement of Export Development Board

SIALKOT: Sialkot Chamber of Commerce and Industry President Qaiser Iqbal Baryar said the Export Development board would put positive impacts on exports and it will be helpful to boost exports which will also provide valuable foreign exchange. Talking to APP here on Saturday, the SCCI president said the Sialkot Chamber of Commerce and Industry welcomed the announcement of the Export ... Read More »

Gold prices fall in local market

KARACHI: The price of gold dropped by Rs50 per tola in the domestic market on Saturday. A tola of yellow metal reached Rs110,350, according to rates shared by Chairman of the All Pakistan Jewelers Manufacturers Association Muhammad Arshad. Similarly, the rate of 10 grams of gold dropped by Rs33 to Rs94,607. According to Reuters, the gold prices eased in the ... Read More »

Quetta ASO impounds smuggled diesel worth Rs61.50m near Lakpass check post

QUETTA: Collectorate of Customs Enforcement and Compliance (E&C) Anti-Smuggling Organization (ASO) has seized six vehicles carrying smuggled Iranian diesel in quantity of 195000 liters worth Rs61.50 million. Sources told that Collector Irfan Javed received credible information that huge quantity of smuggled Iranian diesel will be smuggled via Lakpass check post. The Collector further told that upon directions of Chief Collector ... Read More »

First aircraft of AirSial lands at Sialkot airport

SIALKOT: The first aircraft of the newly established private airline, AirSial Saturday landed at the Sialkot International airport. A-320 Airbus landed at the airport, which was welcomed by Special Assitant to Prime Minister Usman Dar and Civil Aviation Authority officials. The airline is all set to formally launch its flight operation from December 9. SAPM Usman Dar said that Prime ... Read More »

Collector AIIA Azmat Tahira assigns look after charge to deputy collectors

LAHORE: Collectorate of Customs Allama Iqbal International Airport (AIIA) Azmat Tahira has issued office order assigning look after charge to following deputy collector. The order stated that during the ex-Pakistan leave of Deputy Collector, Saqib-ur-Rehman, the following officers will look after the chare as mentioned against their name, in addition to their already assigned duties:- Usman Tariq, Deputy Collector, assigned ... Read More »

FBR transfers 6 PCS officers of BS-17-20 with immediate effect

ISLAMABAD: Federal Board of Revenue (FBR) issued orders for transfers and posting of following officers of Pakistan Customs Service (PCS) with immediate effect and until further orders: Tahir Qureshi, BS-20, Collector Customs Gwadar will also look after the charge of Director, Directorate of Transit Trade, Gwadar in addition to his own duties. Muhammad Shoaib Qazi, BS-19, Additional Collector, Customs Gwadar ... Read More »

UK, EU call in leaders to save trade talks

LONDON/BRUSSELS: British and EU negotiators paused trade talks on Friday to call in their leaders to try to narrow gaps and get an agreement over the line, less than four weeks before Britain completes its Brexit journey out of the bloc. After failing to agree the basis for a deal, Britain’s David Frost and the EU’s Michel Barnier said they ... Read More »

M/s Durt Apparels moves SHC against detention of woven microfiber fabric’s consignment

KARACHI: M/s Durt Apparels has approached The Sindh High Court (SHC) and filed a constitutional petition against detention of its imported consignment of polyester woven microfiber fabric weighing 11.184 on the basis of valuation ruling no 1301/ 2018 dated May 04, 2018. On 4 December 2020, during the hearing, counsel for the petitioner stated that petitioner is duly registered association ... Read More »

Liquor smuggling case: Customs Court extends interim pre-arrest bail to MNA Roshan Junejo & others

KARACHI: The Customs Court extended interim pre-arrest bail to suspect Roshan Junejo, Member National Assembly (MNA) of Pakistan People Party (PPP), his son of Ghayas Junejo, Sajawal Junejo, Navaid Yamin, Muhammad Aman Tariq, Rubina Gill, Khurram Dawood, Khurram Hussain Naqvi partner of M/s World Ocean Centre, Muhammad Sohail clearing agent, partner of M/s World Ocean Centre and others and fixed ... Read More »

Appraisement West to hold auction of cars & ambulances on Dec 7-8

KARACHI: Collectorate of Customs Appraisement and Facilitation, West will hold auction motor vehicles on December 7 – 8, 2020 at AICT, Maripur Road, Karachi. Following motor vehicles will be presented for the auction: SUZUKI WAGON-R, CHASSIS NO.MH34S-535516, Model 2016 TOYOTA PRIUS CAR, CHASSIS NO.ZVW50-8043982, Model 2016 SUZUKI ALTO CAR, CHASSIS NO.HA36S-332382, Model 2017 TOYOTA PASSO, CHASSIS NO.M700A-0093475, Model 2017 DAIHATSU ... Read More »

Pakistan-Japan discussed investment opportunities in different sectors

ISLAMABAD: Pakistan and Japan discussed different avenues of cooperation to explore the key areas of economic cooperation and investment opportunities available in different sectors in Pakistan. The Ambassador of Japan, Kuninori Matsuda visited board of Investment and met with Minister of State/Chairman, Board of Investment (BOI), Atif R .Bokhari to discuss the different investment opportunities in different sectors including Water ... Read More »

Pak Rupee makes four paisas gain against USD

KARACHI: The Pak Rupee made four paisas gain against the dollar on Friday amid demand for import and corporate payments. The rupee ended Rs160.13 to the dollar from previous day’s closing of Rs160.17 in the interbank foreign exchange market. Currency dealers said that the demand for the foreign currency was higher due to last trading day of the current week. ... Read More »

Exports increase 2.11pc in 5 months, 7.67pc in November

ISLAMABAD: The exports increased by 2.11 percent during the first five months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics reported Friday. The exports during July-November (2020-21) were recorded at $9.737 billion against the exports of $9.536 billion in July-November (2019-20), showing growth of 2.11 percent according to PBS data. ... Read More »

Govt released Rs1.78b for textile sector: Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood has informed that the government has released 1.78 billion rupees for the textiles sector under the Drawback of Local Taxes and Levy scheme. In a tweet, Razak Dawood hoped this will resolve the liquidity issues of our exporters and enable them to enhance exports. He also informed that ... Read More »

FBR chairman urged to extend date of filing income tax returns

LAHORE: Pakistan Tax Bar Association (PTBA) has sought extension in fling of returns of income for tax year 2020 till 31st January 2021.  PTBA in a letter written to Federal Board of Revenue (FBR) chairman Javed Ghani said that at the very outset, PTBA appreciates the initiative taken by the FBR for extension in date of filing of return till ... Read More »

FBR sends tax notices to 70,000 potential tax evaders: SAPM Dr. Waqar Maqsood

ISLAMABAD: Special Assistant to Prime Minister on Revenue Dr. Waqr Masood has said that Federal Board of Revenue (FBR) has identified around 7.4 million potential tax evaders. Dr. Waqar Masood said that the potential evaders have transactions worth billions of rupees, have paid withholding tax on the purchase of properties, vehicles, and other luxurious items but refuse to come into ... Read More »

Strong growth in digital financial transactions in 1Q of FY21: SBP

KARACHI: State Bank of Pakistan (SBP) released its Quarterly Payment System Review for the first quarter of the fiscal year 2020-21, which shows strong growth in the pace of digital financial transactions in the country. Promoting digital financial services is a key goal of the SBP. According to the data reported in the review, digital payment transactions in the country ... Read More »

Oil prices rise as producers agree on supply compromise

TOKYO: Oil prices rose on Friday, heading for a fifth week of gains, after major producers agreed to continue to restrain production to cope with coronavirus-hit demand but the compromise fell short of expectations. Brent was up 19 cents, or 0.4%, at $48.89 a barrel by 0102 GMT after gaining around 1% on Thursday. West Texas Intermediate had risen 18 ... Read More »

PM’s construction package for builders & developers in full swing: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) said that registration for construction projects under Prime Minister’s construction package continued in full swing as 348 persons have registered 389 projects with the total estimated cost of Rs157 billion so far. According to a statement issue by the FBR, the pace of registration is getting momentum as the last date i.e December ... Read More »

SHC directs to release consignment imported by M/s M.A International

KARACHI: A division bench of the Sindh High Court (SHC) directed customs officials to immediately release the goods as adjudicated vide order-in-original dated Sep 14, 2019 and if the amount so determined under the said order-in-original including any fine or penalty has been paid then the goods shall be released immediately and compliance report be placed on record before the ... Read More »

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