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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

Customs Preventive seizes smuggled clothes worth Rs120m from different godowns

KARACHI: Collectorate of Customs Preventive recovered smuggled clothes worth millions of rupees in Karachi during anti-smuggling drive in line with the directions of Member Customs Operations Syed Mohammad Tariq Huda. As per details, the Collector Customs Preventive Saquif Saeed received credible information that huge quantity of smuggled cloths are dumped in different private warehouse in the City. customs preventive anti-smuggling ... Read More »

M/s Agrow Limited moves SHC against re-shipment of imported consignment

KARACHI: M/s Agrow Limited moved the Sindh High Court (SHC) and filed a constitutional petition seeking release order for its imported 4000 liters (20 drums @ 200 liters/ drum) of Shogun (Abamectin) 1.8% EC (W/V) manufactured by North China Pharmaceutical Group Aino Company Limited China. On 26 September 2020, counsel for the petitioner submitted that petitioner dated March 17, 2019 ... Read More »

Customs Preventive submits progress report of contraband goods smuggling case

KARACHI: The Customs Court approved interim charge sheet against suspect namely Waseem Imtiaz Ali son of Imtiaz Ali, owner of contraband goods, who was booked in smuggling of 17, 105 kg foreign origin katha (cutch) worth Rs17,105,000 and 2820 kg of Wangsa Kristal Palm Fat Malaysian origin worth Rs212,064. On 26 September 2020, investigation officer of customs preventive submitted progress ... Read More »

Customs Court issues notices on bail petitions filed by owner, manager of M/s ZY & Co

KARACHI: The Customs Court issued notices to the investigation officer and special prosecutor for customs department on after-arrest bail petitions filed by Ghulam Shoaib son of Khawaja M Yaqoob, owner of M/s ZY & Co and Umair Sabir son of Sabir Ali, manager of M/s ZY & Co, who are in jail in a case of smuggling 500 MT Vinyl ... Read More »

SHC releases consignment imported by M/s I.S. Traders on bank guarantee

KARACHI: A division bench of the Sindh High Court (SHC) directed customs department to consider request of the petitioner for provisional release of the consignment subject to deposit of disputed amount of duty and taxes by way of bank guarantee/ pay order on a constitutional petition filed against enhancement of valuation from US$1.20 to 2.02 per kg of consignments of ... Read More »

SBP eases 100pc cash margin condition on import of certain raw materials

KARACHI: The State Bank of Pakistan (SBP) relaxed the condition of 100 percent cash margin requirement on import of certain raw materials. A statement issued by the SBP stated that it had eased 100 percent cash margin requirement on the import of certain raw materials to support manufacturing and industrial sectors and further enhance their capacity to contribute towards the ... Read More »

Customs Preventive to hold auction of vehicles on Sep 28

  KARACHI: Collectorate of Customs Preventive will hold auction of vehicles at Anti-Smuggling Organization (ASO) Headquarter, NMB Wharf, Ghass Bandar, East Wharf, Karachi. Following vehicles to be presented for the auction: Toyota Harrier Jeep, Reg. No. JAA-454, Model 1998, 2999CC, Chassis No. MCU-10-0013510 Toyota Mark-II Saloon Car, Reg. No. BBL-708, Model 2000, 1800HP, Chassis No. JZX110-6000922 Toyota Hilux Surf Jeep, ... Read More »

Importer moves SHC seeking exemption of CD, RD, ST & FED on import of classic cars

KARACHI: Importer approached the Sindh High Court (SHC) and filed a constitutional petition seeking exemption of custom-duty, regulatory duty,  federal excise duty, sales tax and withholding tax on import of vintage/ classic cars. On 24 September 2020, counsel for the importer Farrukh Hussain Usmani, submitted through instant petition, the petitioner impugns the failure of the respondents to release their four ... Read More »

Customs court sends suspect to jail in contraband goods smuggling case

KARACHI: The Customs Court sent suspect namely Shafiq son of Saeed ur Rehman to Central Jail Karachi on judicial remand and directed investigation officer to complete investigation and submit charge sheet in a case of attempting to smuggle non-duty paid 16,130 kg betel nuts worth Rs16,130,000. On 23 September 2020, investigation officer of Customs Enforcement & Compliance produced above mentioned ... Read More »

SBP reserves decline by US$119m after external debt repayments

KARACHI: The State Bank of Pakistan (SBP) announced a decline in foreign reserves of the country by United States Dollar (USD) 119 million owing to external debt repayments by the government during the week ending on 18th of September. According to a release issued by the central bank, the total liquid foreign reserves held by the country stood at US$ ... Read More »

Customs Preventive will take all measures to provide quality education: Saquif Saeed

KARACHI:  A ceremony was held at Customs Public School to apprise parents about educational reforms in Customs Public School and ongoing projects. Collector Customs Preventive Muhammad Suaqif Saeed was the chief guest on the occasion. Addressing the gathering Collector Saquif Saed said that customs department will take all possible measures to provide quality education to students. Assistant Collector Arsalan told ... Read More »

Mis-declaration: Customs PMBQ submits FIR against partners of M/s M. Nazeer M.Rahim & Co

KARACHI: The Customs Court directed investigation officer to complete investigations against partners of M/s M. Nazeer M. Rahim & Co, in a case of gross mis-declaration of description, value & classification and evaded amount of duty and taxes worth Rs4,225,802. On 23 September 2020, investigation officer of Customs Appraisement & Facilitation Port Muhammad Bin Qasim (PMBQ) submitted first information report ... Read More »

M/s A.S Marine Enterprises challenges eviction of land by Trustees of Karachi port

KARACHI: M/s A.S Marine Enterprises has approached the Sindh High Court (SHC) and filed constitutional petition challenging impugned judgment of trail court over eviction of its land by Trustees of Port of Karachi. On 22 September 2020, counsel for the petitioner submitted that petitioner was allotted plot no: C-2 measuring 633 square meters situated at Boat Building Yard, West Wharf, ... Read More »

SBP generates Rs478b through auction of treasury bills

KARACHI: The government has borrowed an amount of Rs474.8 billion through sale of market treasure bills. The State Bank of Pakistan (SBP) said that bids were invited for the auction of 3-, 6- and 12-month maturities. The auction target was Rs450 billion. The auction witnessed aggressive participation of the banks as the central bank received total bids amounting Rs918.47 billion ... Read More »

Pakistan registers current account surplus for second straight month: SBP

KARACHI: Pakistan has registered a current account surplus for the second straight month, the central bank said in a statement issued Wednesday, on account of remittances sent in by the expatriates as well as cheaper imports. In its statement, the State Bank of Pakistan (SBP) said the Current Account Balance (CAB) surplus “amounted to $508 million and $297 million during ... Read More »

Appraisement West to hold auction of 38 vehicles tomorrow

KARACHI: Collectorate of Appraisement and Facilitation West will hold auction of confiscated vehicles on September 24, 2020 at Bay-West Customs House Karachi. Following vehicles will be presented for auction. Honda/N Box, Chassis No. JF1-4101734, Model 2013 Honda N-Box Mini Van, Chassis No: JF1-2211404, Model: 2014 Honda N-Box Mini Van, Chassis No: JF1-3102085, Model: 2013 Honda N Box, Chassis No: JF1-1226467, ... Read More »

PM urged to grill FBR for releasing incomplete analysis

KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has expressed total mistrust over the statistical figures recently disclosed by the Federal Board of Revenue (FBR) in its Tax Directory Analysis 2018. He said that FBR recently released an analysis of Tax Directory 2018 based on income tax, in which it made some claims which were ... Read More »

Court to frame charge on chairman AKD Group & others on complaint filed by M/s JS Bank

KARACHI: A session court fixed October 10, 2020 to frame charge on Aqeel Karim Dhedhi, Chairman AKD Group, Mubashir Luqman, news anchor on a complaint filed by M/s JS Bank Limited in a case of conspiracy to defame Ali Jehangir Siddiqui, Chairman of the complainant Bank. Order came on September 20, 2020, Additional District and Session Judge Ashraf Hussain Khowaja ... Read More »

Customs Court issues notices on petition filed by M/s Universal Industrial Corporation

KARACHI: The Customs Court issued notices to investigation officer of customs department on petition filed under section 265-K Cr.PC for acquittal of Zulfiqar Ahmed, director M/s Universal Industrial Corporation, who was booked in fake/ flying invoices case. On 22 September 2020, counsel for the accused persons argued that in the instant case FIR was lodged against the applicant and others ... Read More »

FPCCI seeks action against shipping companies, terminal operators for unfriendly behavior in trade facilitation

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lambasted shipping companies and terminal operators for their non-cooperative behavior in trade facilitation, a statement said on Monday. “Efforts by FPCCI and Customs to provide trade facilitation are not properly materialized due to weak contribution/participation by other stakeholders particularly shipping companies and terminal operators,” Mian Anjum Nisar, President FPCCI ... Read More »