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Importers move SHC seeking provisionally release of consignments of PVC coating fabric, PU coated fabric etc

KARACHI: M/s Asad Traders, M/s Soban Traders, M/s Mujahid Enterprises, M/s Dogar Impex and others have approached the Sindh High Court (SHC) and filed constitutional petitions seeking provisionally release of PVC coating fabric, PU coated fabric (artificial leather) woven and nonwoven and textile lining material fabric on securing the differential amount of duty and taxes. On 30 November 2020, counsel ... Read More »

KCCI concerned over disturbance of port operations

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) M. Shariq Vohra, while expressing deep concerns over massive traffic jam on Port Qasim Road, stated that the Karachi Chamber started receiving dozens of complaints from its members since Thursday morning about the said severe traffic jam due to road carpeting which was initiated without the provision of alternate route and ... Read More »

KPT shipping movements report Sep 28

KARACHI: Following were the movements of ships at Karachi Port Trust (KPT) during last 48 hours, ending at 0700 hours on Monday. SHIPS BERTHED: Trugen Tanker Star Omicron Phosphate Rowan 3Clinkers MSC Cheryl 3 Container Ship Kapitan Maslov Container Ship StraumTanker Esperanzan Container Ship Wan Hai 613 Container Ship Conti Courage Container Ship ST Cergue Wheat Canadian Highway Car Carrier ... Read More »

Punjab imposes micro smart lockdown in multiple areas of six cities

  LAHORE: The Punjab government imposed a micro smart lockdown in various areas of six cities in the province on Wednesday, as authorities warned that complacency cannot be afforded despite the declining number of COVID-19 cases in the country. According to the secretary for the provincial health department, Muhammad Usman, the micro smart lockdown has been imposed to stop the ... Read More »

Moody’s confirms ratings of five Pakistani banks as stable

ISLAMABAD: Moody’s Investors Service confirmed the B3 long-term local-currency and Caa1 foreign-currency deposit ratings of five Pakistani banks. The banks include Allied Bank Limited (ABL), Habib Bank Limited (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP) and United Bank Limited (UBL). According to a report published by Moody’s, the outlook on all Pakistani banks’ long-term local currency deposit ... Read More »

LCAA, APCAA delegation pays farewell call on Collector Amjadur Rehman

  LAHORE: A delegation of Lahore Customs Agents Association (LCAA) and All Pakistan Customs Agents Association (APCAA) called on recently transferred Collector Appraisement Amjadur Rehman. The delegation led by Chairman Mohammad Amjad Chaudhary and also includes President Sajid Aziz Meer, Agha Iftikhar Ahmad, Masood Alam Butt, Mirza Qasim Baig, Riaz Ahmad and Malik Mohammad Tariq Javed. Participants of the meeting ... Read More »

ECC approves 0.2MMT wheat for Utility Stores

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved 0.2 million metric tons of wheat for Utility Stores Corporation (USC) to provide relief to masses. Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet today. ECC approved the allocation of additional ... Read More »

Deputy Collector Amjad Aman transfers two inspectors

FAISALABAD: The Collectorate of Customs Enforcement and Compliance Deputy Collector Headquarters Amjad Aman issued notification for transfer of two customs inspector with immediately effect and until further orders. According to notification Inspector Muhammad Ehsan has been transferred from Faisalabad International Airport to General Branch duty of Customs House Multan. Inspector Muhammad Ramzan Shahid is also transferred from Customs House Multan ... Read More »

Risk taking, essential ingredient of success: SECP chairman

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) Chairman Aamir Khan said that risk taking was an essential ingredient of success, but a compromise on risk management protocols, could turn an opportunity into a loss situation. “No amount of urgency should detract from following the risk management protocols,” he added. He was delivering keynote address at First National Risk Management ... Read More »

Father of PRAL incharge Asif Jamil laid to rest

LAHORE: Squadron Leader ® Muhammad Jamil Akhter father of Incharge Pakistan Revenue & Automation Private Limited (PRAL) Mohammad Asif Jamil passes away. He was 79. Late Muhammad Jamil Akhter spent his entire career as Squadron Leader in Pakistan Air Force (PAF) as a professional officer. He leaves behind one widow, two and three daughters to mourn his death. His Namaz-e-Janaza ... Read More »

NAB to file reference against Hamza Shehbaz in assets case soon  

LAHORE: PML-N leader Hamza Shehbaz was produced before an accountability court in assets beyond means and money-laundering case on Friday. According to details, the son of the former CM Shehbaz Sharif was produced before the court, where the judge extended his judicial remand by 14 days. The authorities were directed to bring the PML-N leader before the court on February ... Read More »

RCCI urges early completion of SEZ under CPEC

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) has urged the government and ministry of planning that the industrial parks would be developed aligned with local available resources. There is a need to expedite process and working on CPEC Special Economic Zones (SEZ). The Labour-intensive industry from China under China Pakistan Economic Corridor (CPEC) shall be relocated in Pakistan ... Read More »

Customs I&I personnel found dead at Manghopir

KARACHI: A two days old dead body of a Custom Intelligence and Investigation (I&I) personnel found in a government vehicle near the area of Manghopir. According to the details, a suspect dead body was found to the team of the Manghopir Police station which has been identified with the name of Fida Muhammad Khan from a government vehicle near the ... Read More »

Bearish trend continues as KSE-100 sheds 400 points

KARACHI: After a positive start to the trading session, the Pakistan Stock Exchange (PSX) once again fell under the radar of bears, as the indices failed to recover the losses accumulated in the previous session and closed in the negative zone on Wednesday. Foreign investors offloaded equities worth $3.87 million on Tuesday with major selling witnessed in the cement sector ... Read More »

NAB decides to sign agreement with FBI, NCA for elimination of corruption

ISLAMABAD: National Accountability Bureau (NAB) on Friday has decided to sign agreement with US’s Federal Bureau of Investigation (FBI) and British National Crime Agency (NCA) in a bid to eliminate the menace of corruption. According to sources, a draft, prepared by law ministry, has been dispatched to FBI and NCA. The documents to contact World Bank and Malaysian Anti-Corruption Commission ... Read More »

FBR seeks report regarding short assessment of vehicles cleared under amnesty scheme 2013

MULTAN: The Federal Board of Revenue seeks report from Customs Preventive about recovery of short assessment of vehicles cleared under the amnesty scheme 2013. The government has launched amnesty scheme on March 5, 2013 for regularization of smuggled vehicles in the country after payment of taxes, duty and nominal redemption fine. Almost 51,201 vehicles were regularized through the amnesty scheme ... Read More »

Pakistan to export additional 500,000 tons rice to China

ISLAMABAD: Advisor to Prime Minister on Commerce, Textile, and Industry Abdul Razak Dawood has said on Wednesday that Pakistan has completed rice export target of 250,000 tons to China. The rice were exported under the duty-free incentive package of $1 billion offered by China for Pakistan to lift its exports. Completing the target of assigned quota, Pakistan approached Chinese government ... Read More »

PSX’s 100 Index loses 1,382 points in intraday trading

KARACHI: The Pakistan Stock Exchange’s KSE-100 index on Thursday plummeted by more than 1,382 points during intra-day trading in the wake of the detailed verdict of a special court in the high treason case against former president General (r) Pervez Musharraf. The benchmark index opened at 41,603 points but started to fall around midday as the market anticipated the release ... Read More »

Court extends Khursheed Shah’s judicial remand till Dec 12

SUKKUR: An accountability court in Sukkur on Saturday extended the judicial remand of Syed Khursheed Shah till December 12 in a case regarding his alleged assets beyond means. On 7 December 2019, Shah’s defence counsel argued with the court that 82 days have been passed since his client’s arrest by the National Accountability Bureau (NAB), however the accountability watchdog could ... Read More »

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