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Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Govt plans issuance of Euro, Sukuk bonds worth $2b

ISLAMABAD: With an aim to strength the state’s foreign exchange reserves, Pakistan’s finance ministry has begun preparations of issuing Eurobonds and Sukuk (Islamic bonds) worth $2 billion for five years and 10 years periods. The government of Pakistan intends to set up a Medium Term Note (MTN) Programme, covering both Eurobonds and international Sukuk for a period of one year ... Read More »

NAB pleas to cancel bail of Shehbaz Sharif set for hearing on Oct 22

ISLAMABAD: Supreme Court of Pakistan on Saturday set the date for hearing of appeals filed by National Accountability Bureau (NAB) against bail of Opposition Leader in the National Assembly Shehbaz Sharif. As per details, a three-member bench of the Supreme Court will hear the appeals against the bail of PML-N president in the Saaf Pani and Ashiyana cases on October ... Read More »

Quetta Customs recovers betel nuts, gutka, tyres worth Rs40m from passenger buses

QUETTA: Collectorate of Customs team foiled a bid to smuggle 8,000 kilograms of betel nuts, 500 kilogram Indian Pan Prag and huge quantity of non-duty paid tyres from a passenger bus. Sources told that Collector Preventive Dr. Iftikhar Ahmad received credible information about smuggling of goods through a passenger coach. He directed Additional Collector Jameel Baloch and Assistant Collector Saleem ... Read More »

Accountability Court adjourns hearing of fake accounts case till Oct. 22

ISLAMABAD: An accountability court on Friday adjourned hearing the fake accounts case without making any substantial progress after it was informed that copies of the reference had not yet been provided to all 30 of the suspects nominated. Accountability judge Mohammad Bashir, who was hearing the case, said the court will start the indictment process once all the accused had ... Read More »

Pakistan Stock Exchange lose 180 points on selling pressure

KARACHI: The Pakistan Stock Exchange (PSX) failed to sustain gains on Tuesday and succumbed to selling pressure. Although the bulls managed to overpower the bears for a brief period of time, the day ended with bears in control. Also, amidst economic uncertainty, recent political developments in the region forced the investors to keep their cautious stance intact. Foreign investors in ... Read More »

Fixed tax regime will be finalized after consultations with stakeholders: Chairman FBR

RAWALPINDI: The proposed draft on fixed tax regime will be finalized after consultations with stakeholders and FBR doors are open for business community to address their grievances. The draft for Small Shopkeepers Scheme under section 99B of the Income Tax Ordinance, 2001 has been released for views and comments. This was stated by Chairman FBR Shabber Zaidi while talking to ... Read More »

Customs, excise duty collections record double-digit growth: SBP

ISLAMABAD:The customs and excise duty collections recorded a double-digit growth during the fiscal year 2018-19, State Bank of Pakistan (SBP) said in its recent report. According to SBP report “The State of Pakistan’s Economy” the depreciation of Pakistan rupee, imposition of regulatory duty, and an increase in excise duties led to a double-digit growth in custom and excise collection during ... Read More »

Customs Court approves remand of suspect in polyester fabric’s smuggling

KARACHI: The Customs Court approved physical remand of suspect namely Amad Hussain son of Shah Afzal and sent him back to customs department, who was involved in a case of attempting to smuggle foreign origin polyester fabric worth Rs33,247,607. On July 9, 2019 investigation officer produced above mentioned suspect along with first information report (FIR) and informed the court that ... Read More »

Mission of DC Abdul Qadoos will be continued: Member Customs Agha Jawwad

KARACHI: Federal Board of Revenue (FBR) Member Customs Operations Agha Jawwad has said that the culprits involved in the brutal killing of Deputy Collector Preventive Quetta Customs Dr. Abdul Qudoos will soon be arrested. Addressing the condolence seminar conducted in Customs House after the martyrdom of Deputy Collector Preventive Quetta Customs Dr. Abdul Qudoos, Member Customs Agha Jawwad hailed his ... Read More »

Peshawar I&I foils bid to smuggle huge quantity of opium near Motorway Toll Plaza

PESHAWAR: Directorate of Customs Intelligence and Investigation (I&I) seized 12 kilograms of opium worth millions of rupees and arrested accused near Motorway Toll Plaza. Sources of I&I told Customs Today, on direction of Director Rashid Habib the campaign against smuggling of narcotics is on full swing. An information was received to the effect that a sizeable quantity of narcotics would ... Read More »

Pak Rupee weakens by 16 paisas on import payments

KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments. The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs156.85 and Rs156.95. The marked recorded day high of Rs157.00 and ... Read More »

Pak Rupee falls further as dollar hits 157 in interbank trade

KARACHI: The Pakistani currency maintained its downturn for a seventh straight session, hitting a low of over Rs157 against the US dollar in the interbank market on Monday. Since the morning, it moved both ways within a range of Rs156.50 to Rs 157.07. Latest updates showed the rupee stood at Rs156.96, up by Rs1.12 from Friday’s closing rate of Rs155.84. ... Read More »

Govt withdraws zero-rated status for major exporters

ISLAMABAD: The PTI government has withdrawn the zero-rated facility, saying that the move will streamline revenue flow and prevent leakages. While announcing the federal budget for fiscal year 2019-20, the government withdrew the Statutory Regulatory Order (SRO) 1125(I)/2011, which offered zero-rated sales tax on inputs and products of five major export-oriented sectors ie textile, leather, carpets, sports goods and surgical ... Read More »

Shipping activity at Port Qasim

KARACHI: Three ships MS Tiger, Janic Star and Golar Maria carrying containers, Coal and LNG were allotted berths at Qasim International Container Terminal, Pakistan International  Bulk Terminal and Pakistan Gasport Consortium Terminal respectively. Meanwhile four more ships, MSC Maeva, Coral Gem, Andrey Pervozvanny and Althakhira carrying Containers, Coal Palm oil and LNG  also arrived at outer anchorage of Port Qasim ... Read More »

Pakistan’s new oil tanker arrives at Karachi port

KARACHI: MT Khairpur, the new oil tanker acquired by Pakistan National Shipping Company (PNSC), has reached Karachi port, bringing the number of oil cargo vessels in the company’s fleet to six, a statement said on Sunday. The PNSC said the South-Korean-made ship, known as a clean product tanker, having a capacity of 75,000 DWT (LR-1 category), was built in 2012, ... Read More »

Pak Rupee makes gain against dollar

KARACHI: The Pak Rupee made gain against dollar on Tuesday after maintaining levels for 11 consecutive days. The rupee ended at Rs141.39 to the dollar from previous day’s closing of Rs141.40 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40. The market recorded a high of Rs141.398 and low of ... Read More »

Petrol price likely to go up by Rs14.37 for May

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has recommended increasing oil prices by as much as Rs14.37 for the month of May. According to media, in a summary moved to the petroleum division on Monday, the Ogra proposed that the price of high speed diesel (HSD) be raised by Rs4.89 per liter and petrol price be hiked by Rs14.37 ... Read More »

‘Allowing Afghan Transit Trade can unleash full potential of Gwadar port’

GWADAR: Trained as a mechanical engineer from the Balochistan University of Engineering and Technology, Mir Naveed Baloch is a member of the Pakistan Engineering Council since 2003. Following his engineering education, he ventured into diversified commercial interests such as real estate; and shipping, transport & freight. Currently, he is serving his third term as the President of Gwadar Chamber of ... Read More »

FBR decides not to extend final date of sales tax refunds

ISLAMABAD: Federal Board of Revenue (FBR) has decided not to extend the date of sales tax refund bonds from April 10. Official sources from FBR told Customs Today that the board had earlier extended the date of sales tax returns from March, 25 to April 10, 2019, in order to facilitate the taxpayers. The board has amended Section 67-A of ... Read More »

NBP & NIFT will remain open on 29th & 30th March to facilitate taxpayers

KARACHI: Federal Board of Revenue (FBR) has made special arrangements for income tax return filing. The offices of Customs Appraisement East. West and Customs Port Mohammad Bin Qasim shall remain open and observe working hours till 10 pm on 29th March, 2019 (Friday) and till 12 pm on 30th March 2019 (Saturday) for collection of duty and taxes. The FBR’s ... Read More »