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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

Sindh Revenue Board waives off default surcharge

KARACHI: In a major relief to tax payers amid COVID-19 lockdown, the Sindh Revenue Board (SRB) on Monday announced to exempt the whole amount of penalty and such of the amount of default surcharge. According to a notification issued by the SRB, taxpayers can benefit from the package till June 30. The SBR, under section 45 of the Sindh Sales ... Read More »

Last date for KCCI’s membership renewal extended up to June 15

KARACHI: Referring to a notification issued by Directorate General of Trade Organizations (DGTO), the spokesman of Karachi Chamber of Commerce & Industry (KCCI) has informed that the last date for renewal of KCCI’s membership has further been extended to June 15, 2020 due to the outbreak of coronavirus pandemic. KCCI has requested all its members to get their membership renewed ... Read More »

FBR imposes ‘removal from service’ penalty on LTU Karachi auditor

  KARACHI: Federal Board of Revenue (FBR) has awarded major penalty of ‘removal from service’ on an auditor (BS-18) posted at Large Taxpayers Unit (LTU) Karachi for inefficiency and misconduct. A notification issued on Monday, the FBR said that disciplinary proceedings against Ghulam Fareed Pario, Assistant Director (Audit) (BS-18), Large Taxpayers Unit, Karachi were initiated under the Government Servants (Efficiency ... Read More »

KN95 face mask prices to jump double to Rs 700 due to blocking and recall of all its imports

KARACHI: Price of KN95 face masks can be increased in upcoming days due to blockage of its supply by Customs, recalling of all the consignments previously cleared without DRAP NOC and rise in demand of face masks due to Coronavirus disaster. Collector Irfan-ur Rehman’s timely intervention proved successful to halt ‘smuggling’ of face masks as these consignments of influential people ... Read More »

ADC Amir Thamim assigns look after charge to deputy, assistant collectors

KARACHI: Collectorate of Customs Appraisement and Facilitation Additional Collector Mohammad Amir Thahim issued office order assigning  look after charge during the period of leave of the officers. Details are as under:- 1,            Miss Asma Hassan Deputy Collector, Group II (24-25), adjudication of Afghan Transit Legacy cases leave period 12.5.2020 to 22.5.22.5.2020 look after charge assigned to Ms. Sakeena Assistant Collector. ... Read More »

Sindh allows business activities to remain operational throughout the week

KARACHI: Government of Sindh and Karachi’s traders and business community have mutually agreed upon running operations throughout the week. According to details, Sindh government agreed to the demands of traders, businessmen and shop owners in Karachi allowing them to open markets from Monday to Sunday for a limited amount of time in a day. Shops could open from 8am till ... Read More »

Customs ASO seizes smuggled tyres, Indian goods, fabric during different raids

KARACHI: Collectorate of Customs Anti-Smuggling Organization (ASO) seized huge quantity of non-duty paid tyres and fabric during anti-smuggling drive. According to sources after assuming the charge Member Customs Operations Tariq Huda directed all field formations to expedite efforts to curb smuggling attempts. After these directions Chief Collector Saifuddin Junejo directed Collector Preventive Saquif Saeed to enhance vigilance and patrolling to ... Read More »

SBP revises banks timing after Ramazan

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued revised banks timing from May 27, 2020 after Ramazan ul Mubarak. In a notification sent to president and chief executives of all banks, development finance institutions and microfinance banks, the SBP said that the central bank will observe the following office timings till further orders: Monday to Thursday: 10:00 a.m. to ... Read More »

FPCCI proposes duty free import of used cars & subsequent export after repair

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed duty free import of used cars and their subsequent export after repair. The apex trade body in its proposals for budget 2020/2021 said that the UAE had developed Export Processing Zone (EPZ) for duty free import of used cars, their repair and subsequent export to different countries especially ... Read More »

Pakistan witnesses increase of 126.8pc in net FDI: Razak Dawood

KARACHI: Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood has said that during first 10 months of current fiscal year (July-April), Pakistan witnessed net Foreign Direct Investment (FDI) of $ 2.281 billion as compared to US$ 1.006 billion in the corresponding period of FY2018-19 (Jul-April) showing an increase of 126.8 percent. “The country is rapidly gaining investors’ ... Read More »

AFU Karachi Collector Irfan-ur-Rehman Khan to confiscate all face mask consignments, other AFUs may follow suit

KARACHI: Collector Irfan-ur-Rehman Khan, MCC of JIAP Karachi while keeping in line with his fearless attitude and adherence to law is said to proceed on procedures to confiscate all face mask consignments for not providing NOC for clearance. The Collector stopped many consignments of face masks including N95 and KN95 which were being cleared without NOC of DRAP (Drug Regulatory ... Read More »

PIA continues its flight operation as per routine

KARACHI: The Pakistan International Airlines (PIA) is continuing its flight operation as per routine schedule. As per details, flight no AR-500 left for Islamabad from Karachi airport, while PK-8308 also departed for the federal capital from Karachi. A special flight for Milan with 390 passengers on board departed from Islamabad. Two flights for Gilgit and one for Skardu also took-off ... Read More »

ADC Habib Ahmad clarifies exportability of masks, suits, gowns, coveralls

KARACHI: Collectorate of Customs Exports Additional Collector Headquarters Habib Ahmad issued office order clarifying exportability of masks, suits, gowns, coveralls etc. The office order no. 25/2020 read as “in light of SRO 239/(I)/2020 dated 24.4.2020 read with letter no. 5(20)EP/2013-NCOVID-19 dated 6.5.2020, Ministry of Health clarification issued vide DO No. 1/1/2020-Secy dated 2.5.2020 and in light of recommendation of the ... Read More »

SBP allows banks to open selected branches on May 27

KARACHI: State Bank of Pakistan (SBP) allowed banks to open their selected branches on May 27, 2020 in order to facilitate pubic. The central bank on Wednesday said that in order to ensure the availability of limited banking services to public at large during the extended holidays on the occasion of Eid-ul-Fitr, it has been decided that banks / MFBs ... Read More »

SBP forex reserves fall by US$141m to US$12.129b

KARACHI: Total foreign exchange reserves held by State Bank of Pakistan (SBP) decreased by US $ 141 million to US $ 12.129 billion during the week ending on May 15. The total liquid foreign reserves held by the country stood at US $ 18.618 billion on the corresponding date. According to figures issued by the SBP on Thursday, net reserves ... Read More »

Dubai’s DP World Sultan Sulayem extorting Eidi from Pakistan, drivers call for strike

KARACHI: Dubai’s DP World Sultan Sulayem, CEO Junaid Zamir, GM Cyrus Khursigara and alleged benaami owner Habibullah Khan are extorting Eidi from Pakistan as Qasim International Container Terminal (QICT) is deliberately delaying release of containers to charge extra demurrage charges from importers. Drivers have staged a strike at midnight on 19 May due to these delaying tactics of the DP ... Read More »

Bank holidays for Eid-ul-Fitr announced

KARACHI: Banks shall remain closed during May 22 – 27, 2020 (Friday to Wednesday) on the occasion of Eid ul Fitr. In an official note on Wednesday issued by State Bank of Pakistan (SBP) said that the central bank will remain closed from 22nd to 27th May, 2020 (Friday to Wednesday) on the occasion of Eid-ul-Fitr.   Read More »

Director I&I Yaqoob Mako redistributes work among additional directors

KARACHI: Directorate of Customs Intelligence and Investigation (I&I) Director Yaqoob Mako has redistributed work among Additional Directors within the directorate. Additional Director-I Sheeraz Ahmed is assigned Administration and Establishment, Division-IV, FTO, DRRA and Internal Audit. Additional Director-II, S. Ali Zaman Gardezi is assigned Anti-Smuggling Organization, Division-II, Auction & SWH and Anti-Money Laundering Cell. Additional Director-III, Jamshed Ali Talpur is assigned ... Read More »

SBP announces to provide more relief to businesses to avoid layoffs

KARACHI: The State Bank of Pakistan (SBP) has decided to provide more relief to the various companies for payment of wages and salaries to their workers and employees and to prevent layoffs as a result of the coronavirus lockdown. Banks have sanctioned more than Rs23 billion in concessional loans to various companies for payment of wages and salaries to their ... Read More »

DP World Chairman Sultan Sulayem, CEO Junaid, GM Cyrus challenge writ of Pakistan state, bleed nation

KARACHI: DP World Chairman Sultan Ahmed Bin Sulayem, CEO Junaid Zamir, GM Cyrus Khursigara along with QICT benaami owner are openly challenging writ of Pakistan state and bleeding the importers through sheer violation of section 14-A of the Customs Act, 1969 and other relevant laws. DP World / QICT are allegedly involved in multi-billion dollars demurrage scam case where they ... Read More »