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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

Pakistan’s exchange rate shows economic state ‘more realistically’: IMF DD

ISLAMABAD: International Monetary Fund’s (IMF) Deputy Director in the Research Department Gian Maria Milesi-Ferrtti has affirmed that Pakistan has remained steadfast on fiscal adjustment and has picked up economic stability as a result. Speaking at a news conference at the launch of the World Economic Outlook 2019, Mr Ferrtti responded to a question put to Gita Gopinath, the IMF Economic ... Read More »

India appears to have failed in bid to get Pakistan blacklisted by FATF

ISLAMABAD: The Pakistani delegation currently visiting Paris met with the representatives of different member countries and organizations of 39-member Financial Action Task Force (FATF) to secure support against an Indian bid to get Pakistan in the FATF blacklist. The Pakistani authorities are confident that everything is under control, as China, Malaysia and Turkey have assured them of all out support ... Read More »

FBR transfers 5 inspectors of BS-16 from Lahore to Peshawar

ISLAMABAD: Federal Board of Revenue (FBR) issued notification for transfer and posting of five PCS Inspectors of BS-16 with immediate effect and until further orders:- Details are as under:- Inspector Akbar Ali Khan who is presently posted at Appraisement Lahore is hereby transferred to Collectorate of Customs Preventive Peshawar. Inspector Mohsin Ali Tahir is transferred from Collectorte of Customs Appraisement ... Read More »

Ordinance ready against benami properties: FBR chairman

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that the government has prepared an ordinance against benami [undisclosed] properties ‘without making any major amendment’ in the legislation, according to media on Tuesday. Shabbar Zaidi announced that the ordinance against benami properties has been prepared, however, there would be no major amendment in the law but to expedite ... Read More »

IMF technical team holds talks with FBR officials

ISLAMABAD: A technical team of the International Monetary Fund (IMF) has arrived in Pakistan to hold dialogues with the economic officials for the payment of the next tranche of $6 billion under extended loan programme, according to media reports. Sources told that the technical team will stay for two weeks in Pakistan, whereas, the first session of the financial talks ... Read More »

FATF expresses satisfaction on measures taken by Pakistan

PARIS: The Financial Action Task Force (FATF) has expressed satisfaction on the measures taken by Pakistan and its progress in various areas. A Pakistani delegation led by Minister for Economic Affairs Hammad Azhar told the FATF meeting that Pakistan has made positive progress in 20 out of 27 points, Radio Pakistan reported Monday. China, Turkey and Malaysia appreciated the steps ... Read More »

Govt plans issuance of Euro, Sukuk bonds worth $2b

ISLAMABAD: With an aim to strength the state’s foreign exchange reserves, Pakistan’s finance ministry has begun preparations of issuing Eurobonds and Sukuk (Islamic bonds) worth $2 billion for five years and 10 years periods. The government of Pakistan intends to set up a Medium Term Note (MTN) Programme, covering both Eurobonds and international Sukuk for a period of one year ... Read More »

FATF meeting: China, Turkey, Malaysia express satisfaction over steps taken by Pakistan

PARIS: Financial Action Task Force (FATF) has examined the compliance report of Pakistan in its meeting held in Paris. FATF has expressed satisfaction over new risk assessment study of Pakistan and brotherly countries including China, Turkey and Malaysia have supported stance of Pakistan. Sources said FATF appreciated efforts of Pakistan against terrorism and corruption. Pakistani delegation gave satisfactory answers to ... Read More »

FBR sets Rs1.29tr revenue collection target for 3Q of FY2019-20

ISLAMABAD: The Federal Board of Revenue (FBR) has set the revenue collection target for the second quarter (October to December) of the current fiscal year 2019-20 at Rs1,295.99 billion while the target for the current month of October has been set at Rs376.126 billion. According to media, the FBR in a bid to achieve the tax collection target for the ... Read More »

FBR empowers Pakistan Customs to stop departure of vessel till clearance of dues

ISLAMABAD: The Federal Board of Revenue (FBR) issued Customs Act, 1969 updated till June 30, 2019 explaining the powers of customs officials regarding refusal to grant permission to any vessel for departure. Pakistan Customs has been empowered to refuse clearance of vessel until payment of dues including port dues and other charges and penalties. Section 55 of the Act explained ... Read More »

Pakistani delegation reaches Paris for two-day FATF meeting

ISLAMABAD: A Pakistani delegation, headed by Economic Affairs Minister Hammad Azhar, reached Paris to attend a crucial two-day session of the Financial Action Task Force (FATF) set to commence Monday in the French capital. According to sources, the FATF meeting would discuss a report on the steps taken by Pakistan till April 2019 and a decision would be made on ... Read More »

Pakistan secures top position for making record seizures of counterfeit goods: Dr. Arsalan Subuctageen

ISLAMABAD: Dr Arslan Subuktageen Director General (DG) Intellectual Property Rights (IPR) Enforcement said Pakistan clinched top position at JCO HYGIEA Italy final report where 38 countries from Europe and Asia presented their performance against counterfeit and infringing “fast moving consumer goods’. According to details told by DG IPR Enforcement Dr. Arslan while talking with Customs Today in an exclusive interview, the ... Read More »

Pakistan’s economy stagnating amid big deficit, low reserves: World Bank

ISLAMABAD: The World Bank has said Pakistan’s economy is slowing as it faces yet another macroeconomic crisis due to high twin deficits and low foreign reserves. In the latest edition of its report titled “South Asia Focus: Making (De)centralisation Work”, that was released on Sunday, the Bank noted that with an IMF extended fund facility-supported stabilisation programme in place, the ... Read More »

Govt managed to overcome two major fiscal deficits: Hafeez Shaikh

ISLAMABAD: Advisor to Prime Minister Imran Khan on Finance, Revenue and Economic Affairs, Abdul Hafeez Shaikh has announced that the federal government has managed to overcome two major financial deficits of the country,  according to media on Saturday. Abdul Hafeez Shaikh, while addressing a press conference alongside the Federal Board of Revenue (FBR) chairman Shabbar Zaidi, said that the authorities ... Read More »

FBR collects Rs7b customs duty on mobile phones in six months

ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Economic Affairs observed on Friday that the government has collected Rs7 billion additional taxes imposed as customs duty on mobile phones for overseas Pakistanis in the period of six months. The Federal Board of Revenue (FBR) Member Customs Policy while briefing the Senate committee said that other relevant government institutions noted ... Read More »

Hafeez Shaikh presides over meeting on reforms initiatives to facilitate development portfolio

ISLAMABAD: The government economic team has entrusted technical teams from Economic Affairs Division, Planning Commission and the World Bank to chalk out a road-map for simplifying the structure of existing approval process of the development portfolio while identifying the specific areas of interventions and decisions and report back to the forum in a month. The decision was taken at a ... Read More »

NAB arrests ex-PEPCO MD on corruption charges

ISLAMABAD: The National Accountability Bureau-Rawalpindi has arrested accused Rasool Khan Mahsood, former managing director of the Pakistan Electric Power Company (PEPCO), for alleged corruption and misuse of authority in the award of RPPS Contract to Karkey Karadeniz Elektrik Uretim. Former PEPCO MD Rasool Khan Mahsood, allegedly in connivance and collaboration with Karkay and others, gave undue favour and benefits to ... Read More »

Dubai to share details of Pakistani property owners: FBR chairman

ISLAMABAD: In a major development, Dubai Land Department will provide information of the properties owned by Pakistanis in Dubai, Chairman Federal Board of Revenue (FBR) Shabbar Zaidi announced on Friday. “We are pleased to inform that a very productive meeting has been held in Dubai on October 9 and 10 on the matter of exchange of information. Dubai Land Department ... Read More »

FBR starts stocktaking drive in steel sector to detect tax evasion

ISLAMABAD: The Federal Board of Revenue (FBR) has started a stocktaking drive in the steel sector to verify the reports that re-rollers/melting furnaces are involved in tax evasion through underreporting of production. Sources told that FBR initiated scrutiny of production in steel sector in order to plug revenue leakages. The FBR launched the scrutiny process on the complaint of steel ... Read More »

Effective economic policies of govt bearing fruit: APM Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Revenue Dr. Abdul Hafeez Shaikh has said that due to economic policies of current government economy is going in right direction. In a tweet Hafeez Shaikh said “As a result of the stablilisation measures, trade and tax reforms initiated by the government, we have achieved real progress last year to create a platform for ... Read More »