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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

FBR extends tax filing date

SLAMABAD: The Federal Board of Revenue (FBR) extended the last date for filing of tax returns and payment of Sales Tax and Federal Excise duty for the month of July 2014 until August 22. The extension in returns will be applicable for all registered persons. Read More »

Long marches inflict Rs 300b loss on national economy: Dastgir

ISLAMABAD: While terming long march as economical murder of the country, the Commerce Minister has said that ongoing long marches have inflicted a loss of at least Rs 300 billion to national economy. “Both the domestic and foreign investors are reluctant to invest in the country under the threat of marchers,” stated the Minister here. Engr. Khurram Dastgir said that long ... Read More »

Ports Ministry to develop mechanism for coal supply to IPPs

ISLAMABAD: The Federal Ministry of Ports and Shipping Secretary Babar Yaqoob Fateh Muhammad has held series of meetings with Punjab Chief Minister Mian Shahbaz Sharif to develop a mechanism for the transportation of imported coal through sea ports to Independent Power Producers (IPPs) located in Punjab. A source from ports and shipping told Customs Today that Punjab CM Shahbaz Sharif ... Read More »

White paper of PTI a pack of lies: Dar

ISLAMABAD: The Federal Minister of Finance and Economic Affairs Ishaq Dar has rejected the white paper issued by Pakistan Tehreek-e-Insaf on budget 2014-15 and declared it pack of lies. While addressing a news conference along with Privatization Commission Chairman Muhammad Zubair, he said the economy has been performing well and international institutions have also admired the economic policies of Pakistan. ... Read More »

Ambitious targets: KPRA collection increased by 300pc

PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) is committed to executing the provincial government directives for broaden the base of sales tax on services in the province as the authority has already registered a 300 percent increase in the collection of Sales Tax on service in the last financial year. It is to be noted that the KPRA has been ... Read More »

Tug-of-war: FPCCI Office turns a battlefield among VPs

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Office has become battleground as clashes abrupt between companions of vice presidents and other officials on occupying the office room for vice president. A source told Customs Today that the main cause of the clashes was political nature as central leaders of FPCCI used the forum as political tool ... Read More »

Halal Food Authority to boost exports to Middle East: Dastgir

ISLAMABAD: The Federal Minister for Commerce Engineer Khurram Dastgir Khan said that the draft for Pakistan Halal Food Authority has prepared by the Ministry of Science and Technology in consultation with Ministry of Commerce and other relevant institutions and will be presented to the Parliament soon. He said that approval of draft will resolve the issue of certification of Pakistani ... Read More »

Azadi march likely to affect talks with IMF

ISLAMABAD: The current political turmoil can affect talks between Pakistan and IMF authorities scheduled for August 6 to 18th, as Pakistan has entered into fourth review of the $6.8 billion programme with the International Monetary Fund. Sources in the Finance Ministry privy to Customs Today that the political episode created by Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek may endanger the ... Read More »

TCS smuggling hearing adjourned till Aug 21

ISLAMABAD: Hearing of the TCS and Smart Zone Company smuggling case has been put off again until August 21 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 have submitted application for the confirmation of bail before arrest granted by the court. ... Read More »

Kamran Michel to inaugurate Chinese-donated buses for Gwadar schools

ISLAMABAD: Federal Minister for Ports and Shipping Kamran Michel will inaugurate Chinese-donated buses for schools of Gwadar here on August 18. Chinese Ambassador in Pakistan will be the chief guest at the ceremony while other prominent figures and dignitaries will participate in the ceremony scheduled to be held at Gwadar Port. According to an invitation extended by the Gwadar Port ... Read More »

Direct export to CARs: Commerce Ministry for removal of impediments

ISLAMABAD: The Ministry of Commerce is intended to press the government to hold talks with Afghanistan to resolve issues barring Pakistani exporters from direct exports to Central Asian Republics (CARs). Currently Pakistani exporters have to export their goods to Afghan importers who export these onwards to CARs. The Ministry wants the government to take up the issue with Afghan government ... Read More »

5 PCS officers appointed in Customs Appellate Tribunal

ISLAMABAD: Federal Government has appointed Pakistan Customs five high officials including one official of Grade 21 and 4 officials of Grade 20 to the post of Member Technical in Customs Appellate Tribunal. These officers are deputed there for the period of three years in Grade 21. As per notification issued by Ministry of Law, PCS Grade-21 officer Muhammad Yahya has ... Read More »

Assets declaring: FBR issues list of 35 customs, IR officers

ISLAMABAD: The FBR has issued the list of 35 officers of BPS 17 to 19 of who has not declared their assets since 2011 and decided to cancel their allowance. As per details, these 35 officers includes two Inland revenue officers of BPS 19, ten officers of BPS 18, three officers of grade 17 and 20 officers of BPS 20 ... Read More »

Vision 2025 envisages boosting exports to $150b, 25m jobs

ISLAMABAD: The government unveiled its Vision 2025, envisaging increase in exports volume from $25 billion to $150 billion by 2025 with special focus on the development of small and medium enterprises (SMEs) and water and power generation resources. At the launching ceremony of Vision 2025, Minister for Planning and Development Prof Ahsan Iqbal said that to achieve the target of ... Read More »

Govt, traders on same page to increase export volume: Dastgir

ISLAMABAD: The Federal Minister of Commerce and Textile Industry Engineer Khurram Dastgir has said that government will consider suggestions from business community while devising economic policies. He said that increase in export volume was part of Prime Minister’s vision 2025, for which the Ministry of Commerce had been working closely with relevant government institutions. Federal Minister of Commerce expressed these ... Read More »

Plan to name ex-babu as TRC chief raises eyebrows

ISLAMABAD: Tax experts and legal wizards have expressed astonishment over the government proposed planned appointment of a retired bureaucrat as head of the Tax Reforms Commission (TRC) and described the move as the government’s backtracking from its commitment to revisit the tax policies. As per reports, the government is considering people for the job who are experts in public finance ... Read More »

Islamabad Dry Port bosses to write to FBR for forensic lab

ISLAMABAD: Islamabad Dry Port Customs Deputy Collector Miss Aysha and Additional Collector Yawar Nawaz have decided to write to the Federal Board of Revenue (FBR) for the establishment of a forensic lab at port. As per details, the management of Islamabad dry port has decided to have a forensic lab as fabric importers have been facing difficulties in lab testing. ... Read More »

LNG import likely by year end: Khaqan

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that import of Liquefied Natural Gas (LNG) is most likely to start by the end of current year to help cope with the worsening gas shortage. He declared that the LNG import would be carried out through a transparent process and at competitive prices, adding that work on ... Read More »

Traders want peaceful resolution of political problems

ISLAMABAD: The trading community has suspended all trade and transportation activities across the country ahead of the proposed Azadi march of Pakistan Tehreek Insaf (PTI) and Pakistan Awami Tehreek (PAT). Sharing their views with Customs Today, trade associations including Federation Chambers of Pakistan, All Pakistan Trading Association, Islamabad Chamber of Commerce and Traders Welfare Association expressed great regret over current ... Read More »

19 State Owned Enterprises earn Rs 246b profit: Finance Ministry

ISLAMABAD: Out of 32 state owned enterprises on the list of privatisation, 19 of them have earned nearly Rs 246 billion profit during the previous financial year. The Federal Finance Ministry’s documents available with ‘Customs Today’ reveal that these enterprises have been showing a steady increase in the volume of their profit for the last five years — 2009-2013. It is important to mention here that the current and ... Read More »