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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

SBP issues regulatory framework to facilitate B2C e-commerce exports

KARACHI: The State Bank of Pakistan (SBP) has issued a regulatory framework to facilitate Business-to-Consumer (B2C) e-Commerce exports from Pakistan. The central bank said in order to promote B2C e-commerce exports from Pakistan, it has reviewed some earlier instructions to align these with the changing business dynamics of e-commerce exports. For this purpose, a separate module to implement e-commerce exports ... Read More »

SHC seeks remarks on petition filed by M/s Pakistan Leakless Industries & others

KARACHI: A division bench of the Sindh High Court (SHC) directed customs officials to ensure filing their para wise comments on a constitutional petition filed by M/s Pakistan Leakless Industries Private Limited against imposition of additional duty on raw material/ components for manufacturing of engine gaskets under the garb of valuation ruling SRO 670(I) 2019. On 2 December 2020, during ... Read More »

Customs Court frames charge against suspect booked in foreign origin cloth smuggling case

KARACHI: The Customs Court framed charge against the suspect namely Abdul Razaq son of Abdullah Jan and issued notices to prosecution witnesses for next date of hearing, suspect was nominated in the first information report for smuggling of jersey cloth printed and non-printed etc worth Rs128, 850,000. On 2 December 2020, the above mentioned suspect appeared before the court along ... Read More »

SHC seeks comments on petition filed by M/s Denim Clothing Company

KARACHI: A two-member bench of the Sindh High Court (SHC) issued notices to customs officials and deputy attorney general of Pakistan on a constitutional petition filed by M/s Denim Clothing Company against issuing show cause notices for recovery of anti-dumping duties. On 1 December 2020, during the hearing, counsel for the petitioner stated that the petitioner is the sole proprietor ... Read More »

SBP directs all banks, DFIs to construct ramps at place of business

KARACHI: In order to facilitate persons with disabilities, the State Bank of Pakistan (SBP) has directed all banks/ MFBs/ DFIs to take certain measures to ensure Accessible Banking Infrastructure for persons with disabilities. In this regard, the central bank has decided to make it mandatory for all banks/ MFBs/ DFIs to construct ramps at all newly opened and existing place ... Read More »

Customs court approves charge sheet against Roshan Junejo & others in liquor smuggling case

KARACHI: The Customs Court approved charge sheet against Roshan Junejo, MNA of Pakistan People Party, his Son Ghayas Junejo, Sajawal Junejo, Navaid Yamin, Muhammad Aman Tariq, Rubina Gill, Khurram Dawood, Khurram Hussain Naqvi partner of M/s World Ocean Centre, Muhammad Sohail clearing agent, partner of M/s World Ocean Centre and others, who were nominated in first information report (FIR) for ... Read More »

Importers move SHC seeking provisionally release of consignments of PVC coating fabric, PU coated fabric etc

KARACHI: M/s Asad Traders, M/s Soban Traders, M/s Mujahid Enterprises, M/s Dogar Impex and others have approached the Sindh High Court (SHC) and filed constitutional petitions seeking provisionally release of PVC coating fabric, PU coated fabric (artificial leather) woven and nonwoven and textile lining material fabric on securing the differential amount of duty and taxes. On 30 November 2020, counsel ... Read More »

SBP, NBP to observe extended bank timings today for tax collection 

KARACHI: State Bank of Pakistan (SBP) has announced that field offices of the central bank and designated branches of National Bank of Pakistan (NBP) would observe extended bank timings today in order to facilitate tax collection process. According to the details issued by the SBP, the central bank said that in order to facilitate the collection of government receipts, duties ... Read More »

Customs court seeks progress report against owner of M/s World Ocean Centre in liquor smuggling case

KARACHI: The Customs Court allowed investigation from a suspect namely Shahazda Aman son of Saleem in jail, who is nominated in first information report (FIR) for smuggling of liquor through mis-declaration under the garb of diplomatic cargo. On 28 November 2020, investigation officer of Customs Collectorate Appraisement & Facilitation, Port Muhammad Bin Qasim submitted first information report against Abdul Qadir ... Read More »

KICT moves SHC against show cause notice for recovery of FED

KARACHI: Karachi International Container Terminal (KICT) approached the Sindh High Court (SHC) and filed a constitutional petition against issuing a show cause notice for recovery of federal excise duty (FED) by Deputy Commissioner Inland Revenue Unit-2, Enforcement-II, Large Taxpayers Unit (LTU). On 28 November 2020, counsel for the petitioner stated that petitioner received illegal and unconstitutional show cause notice dated ... Read More »

Removal of goods from EPZ: Customs I&I lodges FIR against M/s Laiba Industries Private Limited

KARACHI: Directorate of Customs Intelligence and Investigation (I&I) has lodged an FIR against M/s Laiba Industries Pvt Ltd and several others for illegally removing goods from Export Processing Zone (EPZ) to local markets and warehouses. Sources told that information was received through Director Yaqoob Mako to Additional Collector Rana Tasleem that some suspects were involved in the illegal removal of ... Read More »

Customs Court takes FIR on record against M/s Ravilink Association in sales tax fraud scam

KARACHI: The customs court took first information report (FIR) against Kuram Zubair, owner of M/s Ravilink Association and directed investigation officer to complete investigation and submit progress report, suspect was nominated for committing tax fraud by claiming illegal input/ obtaining sales tax refund on the strength of fake and flying invoices and false zero-rated supplies without havy any manufacturing facility. ... Read More »

Customs Court seeks comments from customs officials against detention of 25 live falcons

KARACHI: A division bench of the Sindh High Court (SHC) issued notices to the customs officials and directed them to file their respective parawise comments on a constitutional petition filed by Bashir Ahmed, an importer against detention of his imported 25 Falcons by deputy collector of customs. On 27 November 2020, during the hearing, counsel for the petitioner stated that ... Read More »

NAB launches separate inquiry into Sindh wheat scam

KARACHI: The National Accountability Bureau (NAB) on Saturday initiated a separate inquiry into Sindh wheat scam under the anti-money laundering act 2010 after important revelations. The latest investigation disclosed that the important personalities involved in the wheat scam laundered money abroad, sources said. The secretary food department Sindh excused himself from appearing before the NAB along with the record by ... Read More »

KCCI facilitates Hassan Vohra for appointment as advisor of ports, shipping & multi modal transport sub-committee

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Shariq Vohra extended his best wishes to Hassan Shaikh Vohra for his appointment as advisor of ports, shipping and multi modal transport, sub-committee. In a letter addressed to Hassan Vohra he stated “I am delighted to inform that, you have been appointed as Advisor of KCCI’s Ports, shipping and multi modal ... Read More »

SBP reserves increase by $484m to $13.4b

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $484 million to $13.4 billion during the week ended on the 20th of November. According to the data released by the central bank, net reserves held by the SBP stood at $13,415.5 million. The overall liquid foreign exchange reserves held by the country stood at ... Read More »

SHC bars customs officials from taking action against M/s Mustaqim Dyeing & Printing Industries

KARACHI: The Sindh High Court (SHC) restrained customs officials from taking any action pursuant to the impugned show cause notice on a constitutional petition filed by M/s Mustaqim Dyeing & Printing Industries Private Limited against show cause notice for demand of recovery in respect of anti-dumping duty. On26 November, 2020, a two-member bench, headed by Justice Junaid Gaffar heard the ... Read More »

Customs ASO impounds 12 NCP vehicles worth Rs188.5m

KARACHI: Collectorate of Customs Preventive, Anti-Smuggling Organization (ASO) impounded 12 non-custom-paid vehicles worth Rs188.5 million. Sources told that Collector Preventive Saquif Saeed directed Additional Collector Haroon Waqar Malik to expedite the drive against the non-custom-paid vehicles. Assistant Collector Shafiullah constituted a ASO team under supervision of Superintendent Iftikhar Hasan to enhance vigilance. During anti-smuggling drive customs ASO impounded 12 vehicles ... Read More »

Customs Court directs approves pre-arrest bail of suspects in electronic goods smuggling case

KARACHI: The Customs Court approved interim pre-arrest bail of suspects namely Muhammad Waqas son of Rasheed Ahmed and Arslan Qureshi son of Muhammad Ehsan-ul-Hussain, who were nominated in first information report (FIR) for smuggling of electronics goods and caused loss to national exchequer. On 26 November 2020, above mentioned suspects appeared before the court along with their counsel and argued ... Read More »

Rs26.828m tax evasion: II&P Cell IR submits FIR against M/s Nine Impex

KARACHI: The Customs court directed investigation officer of II&P Cell, Zone-I of Inland Revenue to submit progress report against Ismail Abdul Sattar, owner of M/s Nine Impex having STR No 1700378698113, booked for committing tax fraud and evaded sales tax amounting to Rs 26. 828 million. On 25 November, 2020, investigation officer appeared before the court and submitted that after ... Read More »

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