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Islamabad

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

PTI, PAT sit-ins causing Rs 150b per day loss to economy

ISLAMABAD: The ongoing long marches and sit-ins have been causing financial losses to the tune of Rs 150 billion, on daily basis, to national economy besides rendering a large number of daily-wagers jobless. According to Trade Development Authority Pakistan (TDAP) Chief Executive SM Munir, Azadi march of Tehreek-e-Insaf and Inqilab march of Pakistan Awami Tehreek (PAT) were adversely affecting the ... Read More »

Customs Intelligence unearths multi-million rupees tax evasion scam

LAHORE: The Customs Intelligence and Investigation has unearthed a scandal involving tax and duty evasion to the tune of millions of rupees and has seized 14 containers. Official sources said that Customs Intelligence and Investigation Director General Lutfullah Virk was tipped off about a gang involved in the unlawful unloading of heavy duty imported goods with replacement of low duty ... Read More »

Trade union chief announces sit-ins against Imran, Qadri

ISLAMABAD: Ajmal Baloch, the president of All Pakistan Trade Union, has announced sit-ins in front of Pakistan Tehreek-e-Insaf Chairman Imran Khan’s house in Bani Gala and Minhajul Quran offices in protest against their sit-ins in Islamabad. Talking to Customs Today, Ajmal Baloch, said that representatives of the business community will take part in the sit-ins. He said that these two ... Read More »

Azadi, Inqilab marches still hamper trade activities in twin cities

ISLAMABAD: The effects of sit-ins and marches have started diminishing in the twin cities of Islamabad and Rawalpindi, but trade activities could not be fully recovered as the participants of the Azadi and Inqilab marches are still in the Red Zone. According to eye-witnesses, CNG, petrol pumps and markets in twin cities have now been opened after a weeklong closure ... Read More »

Imran, Qadri sit-ins: Traders demand compensation for losses

ISLAMABAD: Traders and industrialists in the twin cities of Islamabad and Rawalpindi have decided to write a letter to the government to seek compensation for their losses due the Azadi and Inqilab marches. Islamabad Chamber of Commerce and Industry (ICCI) President Shaban Khalid, while talking to Customs Today, said that business community is in favour of electoral reforms and eradication of ... Read More »

ANF seizes 30kg drugs, nabs six peddlers

ISLAMABAD: The Anti-Narcotics Force (ANF) has seized 24.68 kilogramme of heroin, 5,750 psychotropic tablets and 2.20 kilogramme of charas and arrested six drug smugglers along with three vehicles. According to ANF, the force captured the drugs and nailed the peddlers in five operations carried out in Multan, Kohat, Peshawar and Karachi. As per details, the Peshawar ANF team intercepted a ... Read More »

Political impasses causing great loss to economy: Dastgir

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir Khan said that the on-going sit-ins and uncertain situation prevailed in the country were causing loss of billions of rupees to the national economy. “The country’s economy cannot withstand further with the prevailing uncertainty as people from all walks of life are extremely upset due to the political impasses”, the minister. He said ... Read More »

TCS, Smart Zone smuggling case hearing postponed till 29th

ISLAMABAD: Hearing of the TCS and Smart Zone Company smuggling case has been postponed again until August 29 due to unavailability of Customs Judge Muhammad Ahmad Farooqi. Former TCS CEO Saqib Hamdani and Manager Logistics Ghazanfar Gul turned up in the court. Both the accused are still on anticipatory bail and their bail before arrest has not been confirmed yet. ... Read More »

British team to visit PIA cargo terminal to examine scanners

ISLAMABAD: The British Customs authorities and experts were expected to visit Pakistan Airline Cargo Service in few days to give the final nod of approval for the resumption of its operations to England. The team will examine the newly purchased scanners at PIA cargo terminals after one month suspension of all cargo consignments through airline to England. Sources told Customs ... Read More »

Dar likely to speak on state of economy in Senate today

ISLAMABAD: Finance Minister Ishaq Dar is likely to present two important economic reports to the Upper House of Parliament here on Friday (today). Sources privy to the development, told Customs Today that the finance minister was likely to submit the third quarterly report for year 2013- 2014 of the Central Board of Directors of State Bank of Pakistan on the ... Read More »

Pakistan earns $68m from mango export

ISLAMABAD: Pakistan earned over $68 million from the export of mangoes during the last two years. According to statistics of the Commerce Ministry available with Customs Today, Pakistani mango exports reached $37.765 million in 2013, showing an increase of around $7 million. Similarly, in financial year 2012, $30.818 million worth mangoes was exported. The MoC statistics revealed that the quantity ... Read More »

ANF seizes 62 tonne chemical, arrests 16

ISLAMABAD: The Anti-Narcotics Force (ANF) seizes 62.4 tonne of illegal chemical and 127 kilogramme drugs, arresting 16 smugglers in eight raids throughout the country. The ANF official confirmed with Customs Today that eight raids were conducted in Islamabad, Rawalpindi, Kasur, Lahore, Gilgit, Peshawar and Karachi, in which ANF recovered 50,400 kilogramme sulfuric acid, 12 tonne hydro choleric acid, 17 kilogramme ... Read More »

Pakistan proposes trade agreements with Russia

ISLAMABAD: The federal government has formed a committee headed by Finance Minister Ishaq Dar to address the concerns of exporters regarding lack of coordination with Russian Customs authorities. The government has also proposed the Russian Federation to ink Preferential Trade Agreement (PTA) and Free Trade Agreement (FTA) with Pakistan Customs, however, Russian Customs decided to respond after consultation with all stakeholders ... Read More »

Overseas investment: Capital outflow reaches $457m in 5 years

ISLAMABAD: The statistics of the Finance Ministry reveals that $457 million capital has been transferred for overseas investment with the approval of the State Bank of Pakistan and Economic Coordination Committee of the Cabinet in the last five years (2009-14). Official documents revealed that $298 million outflow was recorded during 2012-13 which is the highest in five years. This was ... Read More »

ANF seizes drugs worth Rs 9.11b in countrywide raids

ISLAMABAD: The Anti-Narcotics Force (ANF) recovered 5.4 tonne of drugs worth more than Rs 9.11billion in 14 raids throughout the country. The force also claimed to have arrested 10 drug peddlers and seized two vehicles. According to the ANF sources, the seized drugs include 4,558 kilogramme of opium, 812 kilogramme of morphine, 28.2 kilogramme of charas, 4.58 kilogramme of heroin ... Read More »

Imran, Qadri followers surround FBR building: Chairman, members use rear gate

ISLAMABAD: The Federal Board of Revenue Chairman and members used rear door to enter the FBR building and left after 2-3 hour office working due to uncertain law and order in Red Zone. The police and sit-in participants have surrounded the FBR building along with other government buildings and institutions after the marches have been shifted to Red Zone. On ... Read More »

Petroleum Ministry hopeful of LNG import by year-end

ISLAMABAD: The Ministry of Petroleum and Natural Resources is hopeful that the import of Liquefied Natural Gas (LNG) is likely to start by the end of this year to offset the fast depleting natural gas reserves in the country. According to an official of the ministry, the LNG will be imported through a transparent process and at competitive prices. He ... Read More »

MFN status to India: Govt gears up for protecting local industry

ISLAMABAD: The Ministry of Commerce has sought suggestions from the National Tariff Commission (NTC) to safeguard measures, tariff and para tariffs, duties and subsidies, where deem necessary, in connection with granting most favourite nation (MFN) status to India. “A mechanism is being developed wherein the textile and pharmaceutics sectors will have an informal advisory role at NTC with the objective ... Read More »

Taxes non-payment: Traders dub Imran politically immature

ISLAMABAD: Rejecting the call for civil disobedience, various trade bodies have described Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s call for non-payment of taxes and duties as unjustified and illegal. Talking to Customs Today, the office bearers of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Rawalpindi Chamber of Commerce and Industry (RCCI) opined that Khan’s call was ... Read More »

Slow import, export narrow down trade deficit in July

ISLAMABAD: The slump in exports and import narrowed down the country’s trade deficit by 16.58 per cent during the first month of the ongoing fiscal year (2014-15). According to trade figures released by Pakistan Bureau of Statistics (PBS), imports decreased by 11.80 percent in July 2014, as compared to the imports in the corresponding month last year. The imports into ... Read More »