Friday , February 28 2020
Breaking News
Home / Karachi (page 10)

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

SBP’s forex reserves up $452.4b

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves hit $11.489 billion during the week ended December 27 from $10.907 billion a week ago. “The SBP reserves increased by $582 billion to $11,489.4 million,” said the SBP statement carried by the publication. “This increase is attributed to bilateral and multilateral inflows, including proceeds of $452.4 million received from the ... Read More »

Customs Court approves remand of suspect $450,000 smuggling case

KARACHI: The Customs Court sent suspect namely Muhammad Islam son of Muhammad Ishaque to customs department on physical remand, who was nominated in a case of smuggling 04.4 kilograms gold, US$ 450,000 s and 255 UAE dirham from Sukkur to Karachi. On 2 January 2020, investigation officer of customs preventive submitted first information report (FIR) and also produced the above ... Read More »

SHC seeks comments on petition filed by M/s G’Five Mobile

KARACHI: The Sindh High Court (SHC) issued pre-admission notices to customs department on a constitutional petition filed by M/s G’Five Mobile Private Limited against enhancement of valuation of consignment comprising of PCB for mobile goods at US$ 1 per piece instead of US$ 13 per kg. On 1 January, 2020, a two-member bench also directed them to make sure to ... Read More »

Banking Court seeks report in criminal complaints filed against M/s Omni Group

The Banking Court Judge Saad Qureshi has directed counsels for Summit Bank, Sindh Bank and National Bank of Pakistan to submit detailed reasons that why their settlement with Omni Group remained unsuccessful during the hearing of 20 criminal complaints against Omni Group for sold out stock of sugar reserved as bank guarantee worth billions of rupees. On 31 December 2019, ... Read More »

Gold imports dip 4.8pc to $7.44m

KARACHI: The gold imports into the country decreased by 4.81 percent during the first five months of the current financial year (2019-20) as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. Gold worth $7.443 million was imported into the country during July-November (2019-20) against the imports of $7.819 million during July-November (2018-19), according to ... Read More »

Revolutionary steps being taken to boost maritime sector: Ali Zaidi

KARACHI: Federal Minister for Maritime Affairs Ali Zaidi has said that in a bid to implement the projects envisioned for the betterment of the maritime sector of Pakistan he even spent the last day of 2019 visiting different places in Karachi to see the working conditions and the needs of the projects set to be launched in 2020. Federal Minister ... Read More »

Ports & Shipping performing well in Pakistan with QICT, Maersk claiming to take the lead

KARACHI: Shipping is the life force for the global economy and without it, the intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would simply not be possible. Sources said Port Qasim is Pakistan’s first industrial and multi-purpose deep sea port. Port Qasim offers innumerable advantages over Karachi, which has allowed it ... Read More »

Defence Attache of Jordan, others approach SHC seeking release of BMW, vehicles

KARACHI: Saad Tabassum, representative of Yazid Qasem M Khawaneb, Defence Attache officer in Embassy of Jorden Islamabad, several others approached the Sindh High Court (SHC) seeking release order for BMW car and other precious imported vehicles. On 31 December 2019, counsel for the petitioners stated in their constitutional petitions that they are lawful claimant of imported vehicles, however, that vehicles ... Read More »

Customs Court approves remand of suspect in spare parts, betel nuts smuggling case

KARACHI: The Customs Court sent suspect Ghulam Muhammad son of Muhammad Usman to Central Jail on judicial remand, who was arrested in a case of attempting to smuggle spare parts, betel nuts, foreign origin cloth etc. On 31 December 2019, investigation officer of customs preventive produced him before the court and informed that on actionable information, customs officials intercepted a ... Read More »

Rs5000 currency notes not being discontinued: SBP

KARACHI: The State Bank of Pakistan (SBP) has rejected the reports regarding the discontinuation of Rs5,000, Rs1000 and Rs500 currency notes. “SBP has not submitted any such proposal which could result in discontinuation of the 5,000 Rupees banknote. Such news items circulating on social media are baseless,” said a spokesperson of SBP. SBP further clarified that any such action is ... Read More »

NEPRA increases K-Electric’s tariff by Rs4.8 per unit

KARACHI: The National Electric Power Regulatory Authority (Nepra) has allowed K-Electric a hefty increase of around Rs4.8 per unit in power tariff on account of quarterly tariff adjustment as consumers and the government will be paying extra Rs106 billion. In a statement issued on Tuesday, Nepra said the authority, based on the information, data and record provided by K-Electric, approved ... Read More »

SHC issues notices on petition filed by M/s KRB Enterprise

KARACHI: The Sindh High Court (SHC) issued pre-admission notices to the customs department and deputy attorney general on a constitutional petition filed by M/s KRB Enterprise against enhancement of valuation of imported goods comprising artificial marble slab/ sheet one side polished from declared value for $0.25 kg to $2.02 kg by the Collector of Customs Appraisement Port Muhammad Bin Qasim. ... Read More »

Customs Court approves remand of suspect in contraband goods

KARACHI: The Customs Court approved physical remand of suspect namely Mir Ahmed son of Abdul Aziz and sent him back to customs department, who was booked in a case of attempting to smuggle contraband branded shampoo, cloths, tyres, blankets etc. On 30 December 2019, investigation officer of customs department produced the above mentioned suspect before the court and informed that ... Read More »

OGRA decides to jack up LPG price by Rs20 per kg for January

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has decided to jack up the price of Liquefied Petroleum Gas (LPG) by Rs20 per kilogram for the month of upcoming month of January. Chairman LPG Distributors’ Association Irfan Khokhar has said that with the increase of Rs20 per kg, the domestic cylinder price will be up by Rs250, while the commercial ... Read More »

SHC bars PIA CEO Air Marshal Arshad Malik from working

KARACHI: The Sindh High Court (SHC) on Tuesday stopped the Pakistan International Airlines (PIA) CEO Air Marshal Arshad Malik from performing his functions as the airline’s chief executive officer. A petition challenging Malik’s appointment as the CEO by Safdar Anjum, the general secretary of the airline’s Senior Staff Association (SASA) was filed at the high court. The petition stated Malik ... Read More »

M/s Asian Int’l moves SHC seeking refund of differential amount

KARACHI: M/s Asian International approached the Sindh High Court (SHC) and filed a petition seeking refund OF the differential/ claim balance amount in respect of imported brand new 12.7M 2xle wall side semi-trailer 8 units from M/s Alibaba One Touch Business service (Dongguan) Co Ltd China. On 28 December, 2010 counsel for the petitioner is engaged in the lawful business ... Read More »

Importers appeal Member Customs to take notice of slow functioning of WeBOC

ISLAMABAD: Importers appealed to Federal Board of Revenue (FBR) Member Customs (Operations) Dr. Jawwad Awais Agha to take notice of the issue being faced by importers and clearing agents due to very slow functioning of customs WeBOC (Web-Based One Customs) system. The importers stated that due to this problem most of the import clearance is pending while the assessment officer ... Read More »

Customs Court approves bail of suspects in goods smuggling case

KARACHI: The Customs Court granted bail to suspects namely Ibadatullah son of Muhammad Usman and Omar Khalid son of Khalid Nisar who were arrested in a case of attempting to smuggle non-duty paid contraband goods. On 28 December 2019, counsel for the accused persons filed bail petition and argued that his clients have falsely been implicated in this case and ... Read More »

CTD seeks ‘watch’ units set up at all Sindh airports

KARACHI: The Counter Terrorism Department (CTD) Additional Inspector General of police has written a letter to the Sindh police chief seeking establishment of “Watch Branch” at all airports in Sindh province. The AIG in his letter said this branch will work under his administrative and operational command. “It is submitted that the Crime Investigation Department Sindh has been renamed as ... Read More »

Banks to remain closed for public on Jan 1

KARACHI: The State Bank of Pakistan (SBP) will observe January 1, 2020 as bank holiday which will be observed as ‘Bank Holiday’. All banks, Development Finance Institutions (DFIs), and Microfinance Banks (MBFs) shall, therefore, remain closed for public dealing on the above date. However, all employees of banks, DFIs, and MFBs will attend the office as usual, says a statement ... Read More »