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Karachi

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

SECP announces PSX, PMEX, NCCPL and CDC operational

KARACHI : In view of the fact that banks and stock market are vital instruments of country’s financial system, the Securities and Exchange Commission of Pakistan (SECP) has announced that the all Capital Market entities would be operational on Tuesday, March 24. SECP has issued directive to open Stock market at 11am in morning. Moreover, SECP also advises PSX to ... Read More »

All banks to remain open with minimum staff: SBP

KARACHI: All bank branches will remain open throughout the country from Monday to Friday with minimum staff for ensuring essential banking services, the State Bank of Pakistan (SBP) said on Monday. According to a statement, all banks and their branches will stay open from 10 am till 4:30 pm on weekdays. SBP asked the banks employees to carry their original ... Read More »

‘Measures being taken to safeguard national economy’

KARACHI: A special inter-ministerial and inter-provincial meeting was held to access the impact of Coronavirus pandemic on national economy. Chairing the meeting, Deputy Chairman Planning Commission Muhammad Jahanzeb Khan said the special timely measures are being taken to safeguard the national economy against the impending impacts of Coronavirus. He asked the relevant ministries to provide comprehensive assessment reports about economic ... Read More »

M/s Popular Traders approaches SHC against detention of consignment

KARACHI: M/s Popular Traders approached the Sindh High Court (SHC) against detention of its imported consignment of pop corn by advisor and director general, Ministry of National Food Security & Research Plant Quarantine Division, Department of Plant Protection alleging fake phyto sanitary certificate. On 20 March 2020, counsel for the petitioner stated that petitioner has imported the consignment of Pop ... Read More »

Sindh govt imposes ban on intra-city public transport

KARACHI: Sindh Transport Minister Awais Shah has said on Monday Intra-city transport is also banned in the province due to lockdown amid increasing cases of coronavirus. “The buses, coaches, coasters and public transportation of all sorts has been told to remain off the roads”, Awais Shah said in his statement issued here. He said online transport services are also banned ... Read More »

SHC seeks comments on petition filed by M/s S.U Enterprises

KARACHI: A division bench headed by Justice Aqeel Ahmed Abbasi directed customs officials to file their respective para wise comments on a constitution petition challenging valuation ruling no 1352/2019 for enhancement of valuation of imported chlorinated paraffin plastoil. On 20 March 2020, during the hearing, counsel for the petitioner stated that petitioner is engaged lawful import of chlorinated paraffin plastoil ... Read More »

M/s Wali Khan Trading approaches SHC against detention of imported consignment

KARACHI: M/s Wali Khan Trading Company approached the Sindh High Court (SHC) and filed a petition against detention of its imported consignment seized by customs officials due to disputed valuation. On 19 March 2020, counsel for the petitioner stated in his petition that petitioner is seriously aggrieved and highly prejudiced by the actions of the respondents, whereby the respondents are ... Read More »

Customs Court extends remand of suspect in Iranian HSD oil smuggling case

KARACHI: The Customs Court extended physical remand of suspect namely Rahimullah Khan son of Sazullah Khan and sent back him to Pakistan Coast Guard who was booked in a case of attempting to smuggle non-duty paid high speed diesel. On 19 March 2020, investigation officer reproduced the above mentioned suspect before the court and informed that on an actionable information, ... Read More »

SBP allows exporters to directly dispatch shipping documents sans limit

KARACHI: The State Bank of Pakistan (SBP), through a statement issued on Thursday, has allowed the exporters to directly dispatch shipping documents of their consignments without any limit. Previously, exporters could dispatch shipping documents directly to their foreign buyers for export consignments of up to $100,000 (equivalent in other currencies). This limit was in place since 2017. Under the new ... Read More »

SBP takes measures to support exporters affected by loss of demand due to COVID-19

KARACHI: The State Bank of Pakistan (SBP) has a strategic objective to support exports for sustained improvement in Pakistan’s balance of payments and growth. To this end SBP provides refinance to banks to provide cheap credit at interest rates that vary between 3 to 6 percent to exporters for working capital and new projects under Export Finance Schemes (EFS) and ... Read More »

Pakistan generates $320m from travel services’ export 

KARACHI: Pakistan earned US $ 320.254 million by providing different travel services in various countries during the first seven months of current financial year 2019-20. This shows growth of 29.61 percent as compared to US $ 247.090 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) said. During the period under ... Read More »

KPT reviews action plan for cargo handling during coronavirus emergency

KARACHI: In order to deal with the corona virus epidemic, a meeting of all GMs and managers was called by Chairman KPT Rear Admiral (r) Jamil Akhtar HI (M) T.Bt at KPT Head Office. Accordin to the details, the course of action implemented presently and further measures to be taken by KPT against corona virus epidemic was discussed in detail. ... Read More »

Customs Preventive seizes smuggled betel nuts & rice near Banaras area

KARACHI: Collectorate of Customs Preventive Anti-smuggling Organization (ASO) has recovered huge quantity of smuggled betel nut (areca) and rice from Metroval Banaras area. According to sources, Collector Saquif Saeed received credible information about smuggling of betel nuts from Punjab to Sindh. He immediately constituted anti-smuggling squad to thwart any attempt of smuggling. The anti-smuggling squad enhanced patrolling in the area. ... Read More »

Trade, current deficits witness decline as remittances rise in 2019-20

KARACHI: The current account and trade deficits have witnessed a massive decline during the first eight months of the ongoing fiscal year 2019-20 as compared to the same period of the previous year. According to the details shared by the State Bank of Pakistan (SBP), the current account deficit witnessed a 71 percent decline during the first eight months and ... Read More »

SHC seeks reply on petition filed by M/s Al-Muntaqim Int’l against detention of consignment

KARACHI: The Sindh High Court (SHC) directed customs officials to file their para wise comments on a constitutional petition filed by proprietor Sajid Iqbal of M/s Al-Muntaqim International Services against detention of imported consignment of 289 cartons of textile material laces, yarn and some machine parts, etc. On March 18, 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi ... Read More »

Customs Court approves remand of suspects in contraband goods smuggling case

KARACHI: The Customs Court approved physical remand of suspect Muhammad Khalid Bhimla, Muhammad Ali and Shahzad and sent them back to customs department who were involved in a case of attempting to smuggle HP laptop etc. On 18 March 2020, investigation officer of Customs Preventive submitted first information report and also produced the above mentioned suspects before the court and ... Read More »

Habibullah, Junaid, Aruna, 65 officials of QICT, Maersk claim to hide Rs 610 billion worth NAB files?

KARACHI: Inquiry against Habibullah Khan, alleged owner of the DP World / Qasim International Containers Terminal (QICT), Junaid Zameer, Aruna Hussain and other 65 officials of DP World / QICT and Maersk, in country’s biggest ports and shipping scandal, is reportedly facing delay and these officials are said to have claimed hiding Rs 610 billion worth NAB files. According to ... Read More »

Chief Collector Wasif Memon directs to adopt measures against coronavirus

KARACHI: Chief Collector Customs Enforcement South Wasif Memon has directed all customs departments to adopt precautionary measures at the ports to safeguard against the coronavirus. Sources told that after the directions of chief collector, screening equipment has been provided at ports and container terminals while the staff has been advised to adopt all precautions while executing their responsibilities. Sources further ... Read More »

Coronavirus: SBP to promote digital payment system from March 20

KARACHI: The State Bank of Pakistan (SBP) on Wednesday announced a string of measures to limit the spread of coronavirus (COVID-19) in the country by promoting the use of Digital Payment Services. The SBP in a circular stated: To curtail the risk of spread of corona virus (COVID-19) and limit the physical interaction of citizens at branch level, Banks/MFBs/PSOs are ... Read More »

SHC seeks reply on petition seeking release of imported goods

KARACHI: The Sindh High Court (SHC) issued notices to customs officials and directed them to file their para wise comments on a constitutional petition filed by Muhammad Atiqueur Rehman seeking imported cloth, bulbs, furniture, gas stores, lights glue machine and auto parts etc. On 17 March 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing the matter ... Read More »