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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

Customs taking all measure to facilitate businesmen: FBR Chairman

ISLAMABAD: A big event was held to celebrate International Customs Day in Customs House which was chaired and addressed by FBR Chairman Syed Shabbar Zaidi. Member (Customs Policy) Muhammad Javed Ghani, also addressed the Customs officers and officials. International Customs Day is celebrated by 183 Customs Administrations of the World on 26th January of every year under the auspices of ... Read More »

Chairman FBR message on International Customs Day 2020

Pakistan Customs, like all other Customs Administrations around the world, is celebrating International Customs Day on 26th January, 2020. I extend my felicitation to all officers and officials of Pakistan Customs on this special day. The role of Customs has, over the years, transcended traditional functions and now it is viewed as a partner for fostering sustainability in the economic, ... Read More »

Compliance with FATF not to affect CDNS’ business

ISLAMABAD: Ministry of Finance has clarified a news report captioned as “National Savings and FATF” and published in the section of the press, saying that the contents of the news report as published by the media are likely to be misconstrued by the account holders and clients of the Central National Saving Scheme (CDNS). In an official statement, Finance Division ... Read More »

Govt takes exception to reporting on external borrowing data

ISLAMABAD: Ministry of Finance has taken a strong exception to a news report published in Daily Express Tribune and Daily Express insinuating and portraying a situation of clash between two government departments over the government’s foreign borrowing during July-Dec 2019 period. In an official statement, Finance Division spokesperson has described the reporting by both newspapers as being unethical and against ... Read More »

FBR starts campaign against tax evaders & money launderers

ISLAMABAD: the Federal Board of Revenue (FBR) has kicked off a nationwide campaign against tax evaders and money launderers in to fulfill the requirements of the Financial Action Task Force (FATF). According to media, the campaign is being led by the newly appointed Director General Intelligence and Investigation (Inland Revenue) Dr Bashirullah Khan on the orders of FBR Chairman Shabbar ... Read More »

Premature to speculate on FATF decision: Hammad Azhar

ISLAMABAD: Minister for Economic Affairs Hammad Azhar, who led a Pakistani delegation during three-day talks with the Financial Action Task Force (FATF) in Beijing, said on Saturday the government has worked “very hard” to get the country off the watchdog’s grey list. Taking to Twitter, he said: “It is premature to comment/ speculate on the decision that FATF members shall ... Read More »

Govt rebuts news report regarding $5.5b foreign borrowing

ISLAMABAD: Ministry of Finance has described as misleading and factually incorrect a news reports published in a section of press claiming that the government’s foreign borrowing increased by $5.5 billion during July-Dec 2019 period. “The contentions of the report are not only misleading, but also against the national interest as the report sends erroneous signals to the markets, which can ... Read More »

FBR sales tax refunds up 165pc after launch of FASTER

ISLAMABAD: After launch of Federal Board of Revenue (FBR) automated sales tax refund system FASTER, sales tax refund owed to exporters jumped 165 percent during the current fiscal year of 2019/20. The FBR deployed the automated refund system in last August to speed up release refunds to five major export-oriented sectors following withdrawal of zero-rated regime. FBR officials informed the ... Read More »

Govt rejects news regarding 20pc drop in FDI

ISLAMABAD: Finance Division has described as factually incorrect and misleading a news item published in a section of the press claiming that the foreign direct investment flows into Pakistan had dropped by 20 per cent in 2019. In an official statement, the Finance Division has clarified that a news report published in a segment of the press has highlighted that ... Read More »

New textile policy aims to increase in textile exports to $25.3b

ISLAMABAD: The new textile policy titled “Pakistan Textile Policy for 2020-25” is ready to be presented before the Economic Coordination Committee for approval any time soon. According to media, the new policy focuses on increasing the country’s textile exports target by 2025 to $25.3 billion and $50 billion by 2030. It was $13.33 billion in 2018. The draft of the ... Read More »

Pakistan-Africa Trade Development Conference to start from Jan 30

ISLAMABAD: Ministry of Commerce is organizing Pakistan-Africa Trade Development Conference under the “Look Africa Policy initiative” from January 30 to 31, which is first of its kind, as over two hundred delegates (officials and businessmen) from twenty African countries, arranged by Pakistan Missions abroad are going to participate in the conference. Pakistan’s trade with Africa has remained stagnant at USD ... 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 »

Customs I&I using all available resources to curb smuggling activities: Ali Akbar Zaidi

ISLAMABAD: Directorate of Customs Intelligence and Investigation (I&I) Headquarters Deputy Director Syed Ali Akbar Zaidi has said that Customs I&I is using all available resources to curb smuggling activities. Talking with Customs Today during an exclusive interview, he said that under supervision of Director-General Zahid Khokhar, the Directorate showed enormous performance and launched heavy crackdown against the smugglers, tax evaders ... Read More »

Pakistan’s earns $206m from travel services’ export in 5 months

ISLAMABAD: Pakistan earned $206.040 million by providing different travel services in various countries during the first five months of the current financial year 2019-20. This shows growth of 22.61 percent as compared to $168.050 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) said. During the period under review, the personal ... Read More »

Asad Umar chairs 63rd National Logistic Board meeting

ISLAMABAD: Minister for Planning, Development and Special Initiatives chaired the 63rd meeting of the National Logistic Board (NLB). Director General National Logistic Cell (NLC) briefed the participants about the operational, administrative and financial matters of the organization with special emphasis on NLC’s future development plans. The Board approved NLC’s budget and appointment of external auditors. In addition, NLC’s Financial Statements ... Read More »

Telenor CEO, Facebook COO meet Imran Khan at Davos

DAVOS: Chairperson Telenor Gunn Waersted and CEO Telenor  Sigve Brekke called on Prime Minister Imran Khan on the sidelines of World Economic Forum annual meeting 2020. Advisor on Finance Dr Abdul Hafeez Sheikh, Special Adviser to Prime Minister Syed Zulfiqar Abbas Bukhari, Ambassador at Large on Investments Ali Jehangir Siddiqui and Governor State Bank Raza Baqir were also present in ... Read More »

FBR reopens probe of eight years old sales tax refund scam

ISLAMABAD: Federal Board of Revenue (FBR) reopened investigations into an eight-year old tax refund scam against three companies suspected of embezzling billions of rupees through fake trade invoices. FBR officials told media that the bank accounts of the three companies had been frozen as part of the inquiry. The regional tax office in Karachi initiated the proceedings against M/s Oriental ... Read More »

FATF’s Working Group expresses satisfaction over Pakistan’s report

BEIJING: The Financial Action Task Force’s (FATF) Working Group has expressed satisfaction while reviewing Pakistan’s performance report from October 2019 till January 2020 in compliance with the global illicit financing watchdog’s action plan carrying 27 recommendations about the country’s anti-money laundering and combating financing of terrorism (AML/CFT) mechanism. The Pakistani delegation led by the Minister for Economic Affairs Hammad Azhar ... Read More »

Pakistan seeks further cooperation with ADB: Hafeez Shaikh

ISLAMABAD: Pakistan looks forward to further strengthening its partnership with the Asian Development Bank (ADB) under its new President Masatsugu Asakawa, Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said on Wednesday. Talking to media on the sidelines of the World Economic Forum (WEF) annual meeting at Davos, he said the PM had an excellent meeting ... Read More »

FBR issues clarification regarding levy of health tax on tobacco

ISLAMABAD: Federal Board of Revenue (FBR) has issued a clarification on a news item appeared in some section of press about the imposition of health levy on tobacco consumption. According to a press release issued by FBR, the legal and constitutional experts hold the view that health is a provincial subject and Federation cannot levy health tax on tobacco consumption. ... Read More »