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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

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 »

FBR detects 3 fake refund cases worth Rs160.947m

ISLAMABAD: The Federal Board of Revenue has registered three illegal refund claiming cases during last year as strict actions by the revenue agency avoided issuance of cheques. Sources revealed to Customs Today that due to the strict measures taken by the current government, no major fake refund case has surfaced during last year. “Only three new cases of illegal refund ... Read More »

ANF Peshawar arrests 5 drug smugglers, recovers 2,600 gram opium

PESHAWAR: ANF Peshawar arrested five persons including three women smugglers in separate crackdowns against narcotics in various parts of Peshawar and Khyber Pakhtunkhwa and recovered 2,600 grams opium. According to spokesman Anti Narcotics Force Peshawar, the first raid was carried out in Haji Camp area of Peshawar where a person identified as Muhammad Nadeem Shahid s/o Muhammad Ilyas resident of ... Read More »

FBR seizes contrabands worth Rs15734m in last 3years

ISLAMABAD: The Federal Board of Revenue (FBR) has confiscated smuggled items worth Rs 15734 million during last three years (2010-2013) in anti smuggling operations in different areas. The FBR has also arrested a total 639 smugglers for their alleged involvement in cases of smuggling during last three years. Sources told Customs Today that FBR had been carrying out anti smuggling ... Read More »

Quetta Customs collects Rs 261.37m in July

KARACHI: The Model Customs Collectorate (MCC) of Quetta has collected an amount of Rs261.37million in share of Customs Duty (CD), Sales Tax, Federal Excise Duty (FED) and Withholding Tax (WHT) in the month of July 2014. According to details, the Collectorate collected an amount of Rs33.77 million in share of CD in first month of fiscal year2014-15 with decrease of ... Read More »

Customs collects Rs 300.11m in Gwadar

KARACHI: The Model Customs Collectorate (MCC) of Gwadar has collected an amount of Rs 300.11 million in share of customs duty (CD), sales tax, federal excise duty (FED) and withholding tax (WHT) in the month of July-2014. According to the statistics, the Collectorate of Gwadar has collected an amount of Rs 58.87 million in share of CD in the first ... Read More »

Azadi march ‘mania’ hampering foreign investment: Dastgir

ISLAMABAD: Federal Minister of Commerce Engineer Khurram Dastgir has warned the politicians that unconstitutional acts like long march may hampered foreign direct investment in country which will cost billions of loss to national exchequer. In a statement issued, he said that if trade representatives and investors who had invested in 16,000 MW power projects withdrew their investment ahead of political ... Read More »

Govt to impose 5% tax on Solar Panels by September

ISLAMABAD: The federal government has been planning to impose 5% tax on import of solar panels and related equipment by September this year. However, Parliamentary Secretary for Finance, Revenue, Economic Affairs, and Statistics & Privatization Rana Muhammad Afzal Khan said that government has not yet imposed any tax on solar panels import but it is expected after completion of assessment ... Read More »

Govt to revise tax structure, investment policy

ISLAMABAD: After lots of complaints from business community and investors the Government has finally decided to revise existing complex tax structure with aiming to simplify and rationalize the tariff structure to facilitate traders and business community. The measures would have also been taken to revise investment policy to attract Foreign Direct Investment (FDI) in the country. According to well placed ... Read More »

TCS, Smart Zone case: Customs submits challan against Hamdani, Shakirullah

ISLAMABAD: The Customs Intelligence and Investigation (I&I) has submitted the challan in customs court against TCS CEO Saqib Hamdani and Smart Zone Company owner Shakirullah, declaring them accused of smuggling, in their initial investigations. As per details, during the hearing of TCS and Smart Zone Company smuggling case in customs court of Islamabad customs judge Muhammad Ahmad Farooqui yesterday, Smart ... Read More »

PNSC to sign MoU with Sri Lankan ports authority

ISLAMABAD: A memorandum of understanding (MoU) will be signed between the Pakistan National Shipping Corporation (PNSC) and Sri Lankan Ministry of Highways, Ports & Shipping during upcoming visit of Sri Lankan President Mahinda Rajapaksa to Pakistan. The Sri lankan Minister of Highways, Ports & Shipping Rajapaksa is due to visit Pakistan from August 21. Under the said MoU the Sri ... Read More »

Cartels continue to manipulate potato price

ISLAMABAD: Federal Minister of Finance Ishaq Dar has admitted that about 10 to 11 brokers had booked potato crop of last year and wanted to sell it on their own rates of Rs 150 per kg. He said that intelligence sources provided names and other details of these dealers involved in black marketing. On question about possible action taken against ... Read More »

Corruption charges: Govt stops FPCCI funding; NAB,TDAP launch probe

ISLAMABAD: The federal government has stopped funding of the Apex chamber, following the corruption allegations of Rs 250 million in construction of FPCCI Capital Office building and ordered National Accountability Bureau to investigate the matter. After getting evidence of corruption from Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former vice president Mirza Abdul Rehman, the Federal Secretary Commerce ... Read More »

Dastgir seeks local, foreign experts’ help to double exports

ISLAMABAD: Federal Minister of Commerce Engineer Khuram Dastgir has decided to appoint local and foreign commerce experts who will assist the government to double the trade volume of the country. Local experts include two former Governors of State bank Dr Ishrat Hussain and Shahid Kardar along with local economic analysts. Federal Minister has asked them to assist government with their ... Read More »

No guarantee to retrieve billions from Swiss banks: Dar

ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar said that there is no guarantee to bring back Pakistani billions of dollars from Swiss banks. He was chairing a meeting on annual review of economic performance of government. “We had put economy of country on track” Federal Minister claimed. He revealed that circular debt of Pakistan was more than Rs 263 ... Read More »

Buoyant Cruise: All set for Karachi-Dubai Speedy Boat Service

ISLAMABAD: The preparations have been completed for launching speedy boat service between Karachi and Dubai to increase Pakistani exports. The main objective of speedy boat service was to export perishable edible items, fruits, vegetables, meat and others to Dubai on cheaper rates, almost half than air service. A speedy boat equipped with air conditioned container will cruise at the speed ... Read More »

Fisheries export up 15.68% to US$3.67m during FY 2013-14

ISLAMABAD: The Fish and fishery products saw an increase of 15.68% during last FY2013-14 which was 12.25 % higher than the FY2012-13. This record increase in export of fish and fishery products from Pakistan had made export earnings of US$ 367.472 million which were above the target of US$340.00 million fixed by Marine Fisheries Department. According to Ministry of Ports ... Read More »

State Life to have new Chairman soon: Dastgir

ISLAMABAD: Federal Minister of Commerce Engineer Khurram Dastgir has assured the administration of State Life Insurance Corporation Limited that decision on appointment of Chairman and board members will be taken soon on priority basis. As per details, Federal Minister Khurram Dastgir during a meeting to examine the half-yearly performance of State Life Insurance Corporation Limited said that Corporation needs to ... Read More »

RDA finalizes draft of revised textile bill

ISLAMABAD: The Research Development and Advisory cell of textile ministry has prepared a bill envisaging wide-ranging measures to encourage value-addition in textiles and to give rights to Textile Ministry for legislation about promotion of textile exports. The bill enabled the ministry to raise standards, store and enhance exports quality of textile goods of country. Previously, RDA prepared an act for ... Read More »