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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 foreign exchange reserves increase by $819m

KARACHI: The liquid foreign exchange of the country increased by $819 million to $18.79 billion by week ended July 03, 2020, according to State Bank of Pakistan (SBP). The foreign exchange reserves of the country were at $17.971 billion a week ago ended on June 26, 2020. The official reserves held by the SBP increased by $811 million to $12.042 ... Read More »

Banks to remain open for business from 9am to 5:30pm, says SBP

KARACHI: Banks in the country will remain open for business from 9am to 5:30pm, the State Bank of Pakistan announced on Thursday after it had issued revised timings due to the coronavirus outbreak in the country. The new timings will be effective from July 13, the central bank said in its circular. “Effective from July 13. 2020, the banks/MFBs shall ... Read More »

SHC seeks comments on petition filed by M/s R.A Agency  

KARACHI: A division bench of the Sindh High Court (SHC) called comments on maintainability of the petition and also issued notices to customs officials and deputy attorney general for July 14, 2020 on a constitutional petition filed by M/s R.A Agency in fake importer’ remittance certificate matter. On 9 July 2020, a two-member bench, headed by Justice Khalid Hussain heard ... Read More »

Customs Court extends bail of Aslam Singapuri in Rs28.57m tax evasion case 

KARACHI: The Customs Court extended pre-arrest bail of suspect namely Aslam Khan allies Aslam Singapuri, sitting MNA 254 Karachi, belonged to PTI, booked in a case of mis-declaration and evading the duty and taxes in the tune of Rs28.57 million to the national exchequer. On 9 July 2020, suspect Aslam Khan aka Aslam Singapuri appeared before the court along with ... Read More »

M/s Agroten Traders approaches SHC against detention of consignment imported from KSA

KARACHI: Muhammad Nasir Irshad, proprietor of M/s Agroten Traders has approached the Sindh High Court (SHC) and filed petition against seizing of its imported monoethyllene glycol (MEG) from Saudi Arabia under the garb of VR 1311/2018 On 7 July 2020, counsel for the petitioner stated that petitioner is engaged in the import and supply of monoethyllene glycol (MEG) from Saudi ... Read More »

Owners of M/s Ajwa Enterprises & Tollar Enterprises seeks pre-arrest bail

KARACHI: The Customs Court issued notices to the special prosecutor for customs department and investigation officer on petition filed by Muhammad Javed son of Abdul Razzaq, owner of M/s Ajwa Enterprises and Muhammad Saleem son of Abdul Razzaq, owner of M/s Tollar Enterprises, who were nominated in first information report (FIR) in contraband goods smuggling scam. On 7 July 2020, ... Read More »

Bank deposits reach record high at Rs16.23tr

KARACHI: The deposits of banking systems have reached record high at Rs16.23 trillion by end of June 30, 2020, according to data released by State Bank of Pakistan (SBP) on Tuesday. The deposits of baking system registered 12.24 percent growth by end of June 2020 as compared with Rs14.46 trillion by end of same month last year. Analysts explained that ... Read More »

CRTO to hold e-Katcheri on July 10

KARACHI: Corporate Regional Tax Office (CRTO) Karachi to conduct public e-Katcheri for efficient service delivery and ensure public trust, sources said on Wednesday. The program has been launched in compliance with the directive of the prime minister to conduct E-Khuli Katcheri to stay in contact with the public by all available means and provide them accessible platform to raise their ... Read More »

COVID-19: SBP enhances scope of refinance facility to support health sector

KARACHI: The State Bank of Pakistan (SBP) announced it had enhanced its coronavirus-related concessional loan facility to cover manufacturers of protective gears and equipment and medical facility with an expansion plan under the scheme. The central bank said the scheme now allows manufacturers of protective gears and equipment, including items such as masks, dresses, testing kits, hospital beds and ventilators ... Read More »

PTCL approaches SHC against demand & recovery notice

KARACHI: Pakistan Telecommunication Corporation Limited (PTCL) has approached the Sindh High Court (SHC) against demand & recovery notice and seeking stay order for adverse action against recovery notice. On 6 July 2020, counsel for the petitioner stated in his petition that petitioner is a public limited company which is engaged in providing telecommunication services across Pakistan. He submitted that the ... Read More »

Karachi loadshedding crisis: NEPRA to hold public hearing on July 10

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) announced on to hold a public hearing on July 10 as the persistent load-shedding crisis continues to test Karachiites’ patience in the sweltering heat. The authority said it would hold a public hearing via the mobile app Zoom due to the coronavirus pandemic. Citizens can be a part of the hearing by ... Read More »

SRB revises sales tax jurisdiction of commissioners

KARACHI: Sindh Revenue Board (SRB) on Monday revised jurisdiction of commissioners with effect from July 06, 2020. Following is the revised jurisdiction of commissioners: Commissioner-I Unit 2: Hotels, motels and Guest Houses; restaurants; marriage halls and lawns; caterers; clubs and race clubs; event management services and exhibition services; out-door photographers and videographers; indoor sports and game center: vehicle parking and ... Read More »

Customs Court approves charge sheet against suspects in tyres smuggling case

KARACHI: The Customs Court approves charge sheet against arrested suspects namely Najibullah son of Abdul Khaliq and Wahid Jan son of Mula Jan, who were booked in a case of attempting to smuggle non-duty paid foreign origin tyres etc. On 3 July 2020, investigation officer submittedcharge sheet against the above mentioned suspects and informed that on  credible information, customs officials ... Read More »

Second raid: Customs Preventive impounds smuggled goods worth Rs30m from Yusuf Plaza

KARACHI: Collectorate of Customs Preventive Anti-smuggling Organization conducted a raid on Yusuf Plaza in Bolton Market and recovered huge quantity of smuggled goods worth Rs30 million. A raid had been conducted on Yusuf Plaze few days ago and smuggled goods had been recovered. Sources told that on the directives of Chief Collector Enforcement Saifuddin Junejo, Collector Preventive Saquif Saeed has ... Read More »

M/s Karsons Enterprises approaches SHC against enhancement in valuation 

KARACHI: M/s Karsons Enterprises has approached the Sindh High Court (SHC) and filed petition against enhancement of its imported 236 drums net weight 38,940 kilograms, sodium mauryl ether sulfate 70 percent 165 kgs plastic drum each imported from China from US$0.95/kgs to US$1.42/kgs. On 4 July 2020, counsel for the petitioner stated that petitioner is engaged in business of import, ... Read More »

Customs Court approves physical remand of suspect in Sweet Supari smuggling case

KARACHI: The Customs Court approves physical remand of suspect namely Irshan Khan son of Wazir Muhammad and sent him to customs lock-up, who was arrested in a case of attempting to huge quantity of Sweet Supari and other contraband goods. On 4 July 2020, investigation officer of Customs Enforcement and Compliance produced the above mentioned suspect and informed the court ... Read More »

M/s Agar Textiles moves SHC against demanding detention & demurrage charges despite corona virus

KARACHI: M/s Agar Textiles Private Limited has approached the Sindh High Court (SHC) against demanding huge amount of demurrage, detention and container charges etc despite corona Virus and lockdown situation by shipping line and terminal operators namely Cosco Shipping Line Pakistan and South Asia Pakistan Terminal (SAPT) Karachi. On 3 July 2020, counsel for the petitioner submitted that a consignment ... Read More »

Goods smuggling scam: Customs Court directs to arrest owner of M/s Ajwa Enterprises & others

KARACHI: The Customs Court approved physical remand of suspect namely Muhammad Waqar Bhatti son of Muhammad Ashraf Bhatti and directed investigation officer to arrest the culprits including owner of M/s Ajwa Enterprises and others, who were booked in contraband goods smuggling scam. On 3 July 2020, investigation officer of Customs Preventive produced the above mentioned suspect before the court and ... Read More »

K-Electric summons stakeholders meeting to explain power generation

KARACHI: K-Electric, the power supply and generation utility, has requested Sindh governor for a meeting of stakeholders to discuss matters pertaining to power generation. The power utility is under serious criticism for continuous breakdown of power in Karachi, the commercial hub of the country. The residents and business community equally suffered with unscheduled loadshedding for hours. The power utility has ... Read More »

NAB launches probe into illegal appointments in Sindh education dept

KARACHI: The National Accountability Bureau (NAB) has launched an investigation into illegal appointments in the provincial education department. According to details, the anti-graft watchdog has launched a probe against former Executive District Officer (Education), Aijaz Solangi for hiring people illegally in the Sindh education department. The latter is accused of hiring people illegally in Naushero Feroz, district of Sindh. According ... Read More »