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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 Court directs to complete probe against M/s Voroly Impex, M/s Welcome Service

KARACHI: The Customs Court directed investigation officer to complete investigation against suspects namely Muhammad Saleem, owner/ proprietor of M/s Voroly Impex, Abdul Razzaq, proprietor of M/s Welcome Services, Muhammad Junaid of M/s Welcome Services and others, who were booked for importer with active connivance of his clearing agent deposited fake/ forged/ bogus pay orders as security for the release of ... Read More »

Customs Court shows displeasures for non-appearance of suspects involved in money laundering

KARACHI: The Customs Court showed displeasured and directed counsel to produce their clients Zor Talab Khan, Umara Khan, Muhammad Hassan and Muhammad Hamza before the court on next date of hearing, who were booked in using 6 benami accounts to conduct business and evaded taxes more than Rs1 billion and also involved in money laundering. On 4 December 2019, case ... Read More »

SHC seeks FIA reply on petition against ban on cryptocurrencies

KARACHI: The Sindh High Court (SHC) on Thursday issued notices to Federal Investigation Agency (FIA) officials on a petition against a ban on the use of digital currencies in the country. On 5 December 2919, a bench of the Sindh high court directed the authorities to assist it in understanding cryptocurrencies. State Bank of Pakistan (SBP) Governor Reza Baqir, Federal ... Read More »

DG Valuation revises customs values of nylon yarn through VR No 1432/2019

KARACHI: Directorate-General Customs Valuation Director Shafiq Ahmad Latki revised customs values of nylon yarn through Valuation Ruling No. 1432 dated 3.12.2019 There was a representation from Pakistan Yarn Manufacture Association (Pakistan) wherein they contended that value of subject item needs to be aligned with international values. They requested to determine the applicable customs values in accordance with the trends of ... Read More »

Customs values of polyester, viscose, acrylic yarn & blends revised

KARACHI: Directorate-General Customs Valuation Director Shafiq Ahmad Latki revised customs values of polyester spun yarn, viscose spun yarn, acrylic spun yarn and blends under Section 25-A of the Customs Act, 1069. Earlier, customs values of polyester spun yarn, viscose spun yarn, acrylic spun yarn and blends thereof were determined vide Valuation Ruling No. 1276 dated 28.3.2018. There was a representation ... Read More »

Investment in prize bonds of Rs40,000 surged by 192pc: SBP

KARACHI: Investment into premium prize bonds of Rs40,000 denomination sharply increased BY 192 per cent, the State Bank of Pakistan (SBP), said on Wednesday. The State Bank of Pakistan’s (SBP) statistics showed that investment into registered or premium prize bonds surged to Rs17 billion in October 2019 compared with Rs5.8 billion in the corresponding month a year earlier. The premium ... Read More »

SHC seeks comments on petition seeking release of spare parts consignment

KARACHI: The Sindh High Court directed customs officials to make sure to submit their para wise comments on a petition filed by Amir Rafique, proprietor of M/s A.N Enterprises seeking release order for consignment of spare parts of Belarus Tractor worth US$ 65000 instead of value US$30064.81 approximately 117% higher. On 3 December 2019, a two-member bench, headed by Justice ... Read More »

Customs Court seeks progress report against suspects booked in getting delivery of auction goods case

KARACHI: The Customs Court directed investigation officer to complete investigation against suspects namely Muhammad Zaki son of Islamuddin, Adeel Ahmed son of Rasheed Ahmed and Meer Rizwan Ali, who were nominated in a case of getting delivery of auction goods by submitting fake, forged and fabricated documents prepared through forgery of signature. On 3 December 2019, investigation officer appeared before ... Read More »

Customs Port Qasim surpasses revenue collection target for Nov

KARACHI: Collectorate of Customs Port Muhammad Bin Qasim (PMBQ) achieved its total revenue target for the month of November, 2019. The total collection for November, 2019 stood at Rs 53.97 billion as against the monthly target of Rs 52.91 billion, which is 102% of the assigned target and 22.91 percent higher than the Rs43.91 billion collection of November, 2018. Collectorate ... Read More »

Moody’s changes Pakistan credit outlook from negative to stable

KARACHI: Moody’s Investors Service has changed Pakistan’s credit rating outlook to stable from negative, signaling a further improvement in foreign currency inflows into the country. In a post shared on micro-blogging site Twitter, Adviser to Prime Minister on Revenue Dr. Abdul Hafeez Shaikh said that “Moody’s upgrades Pakistan’s outlook to B3 ‘stable’ from ‘negative’. The up-gradation of outlook to stable ... Read More »

SHC seeks comments on petition filed by M/s Zee Impex

KARACHI: The Sindh High Court (SHC) directed customs officials to file their comments and act with according to law on a petition filed by M/s Zee Impex against detention of malamine faced laminated chipboard panels (MFC Board), iron/ steel accessories imported from China due to valuation dispute. On 30 November 2019, a two-member bench, headed by Justice Aqeel Ahmed Abbasi ... Read More »

Tax evasion: Customs Court summons witnesses against Aslam Khan

KARACHI: The Customs Court directed investigation officer to produce prosecution witnesses against suspect namely Aslam Khan allies Aslam Singapuri, sitting PTI MNA 254 booked in a case of mis-declaration and evading the duty and taxes in the tune of Rs. 28.57 million to the national exchequer. On 30, November 2019, above mentioned suspect appeared before the court along with his ... Read More »

ADC Appraisement West seeks quick clearance in examination

KARACHI: Collectorate of Customs Appraisement West Additional Collector Muhammad Amir Thahim suggested following proposals for quick clearance in examination . Single item examination reports should be fed in the system on priority basis preferably in first half of the day. In respect of GDs marked for examination, the examination staff is reportedly sending unnecessary samples to group and lab which ... Read More »

Customs Court approves remand of suspect in smuggling case

KARACHI: The customs court sent suspect namely Shah Khalid son of Abdul Qadir to customs department on physical remand, who was booked in a case of attempting to smuggle foreign origin cloth total valuing of Rs 13,111,371. On 29 November 2019, investigation officer of customs preventive submitted first information report (FIR) and produced the above mentioned suspect before the court ... Read More »

SHC issues notices on petition filed by M/s R.K Enterprises challenging VR No1404/2019

Valuations Rulings - Pakistan Customs Today News Paper

KARACHI: The Sindh High Court (SHC) issued notices to the customs department and deputy attorney general directing them to file their para wise comments on a petition filed by M/s R.K Enterprises challenging valuation ruling no 1404/2019. On 28 November 2019, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing the matter. During the hearing, counsel for the ... Read More »

Customs Court approves remand of suspects in mobile phones smuggling case

KARACHI: The Customs Court sent suspects namely Saad son of Abdul Samad and Abdullah Khan son of Iqbal Ahmed Khan to Central Jail Karachi on judicial remand who are booked in a case of attempting to smuggle huge foreign mobile phones. On 28 November 2019, investigation officer of customs preventive produced the above mentioned suspects before the court and informed ... Read More »

TPL Trakker to be listed on PSX

KARACHI: The Board of Directors of TPL Trakker Limited (TPLT) has accorded its approval for the listing of the company on the Pakistan Stock Exchange (PSX). The announcement was made on Friday by TPL Corp in a notification sent to the exchange. TPLT will be offering 115,719,500 ordinary shares of the face value of Rs10 per share, at a price ... Read More »

Pakistan to introduce Panda bond early next year

KARACHI: Pakistan plans its first Chinese yuan-denominated bond, also known as Panda bond, in the first quarter of next year, worth about $1 billion, reflecting growing demand for the country’s debt as its economic outlook improved. President and Chief Executive Officer (CEO) of Habib Bank Limited Muhammad Aurangzeb while talking to media said “Pakistan is moving closer to debut Chinese ... Read More »

SHC adjourns hearing of Iqama case against Faryal Talpur, Nasir Shah

KARACHI: The Sindh High Court (SHC) has adjourned the hearing of Iqama case against Faryal Talpur, Nasir Shah and others till December 6. On 29 November 2019, Justice Muhammad Ali Mazhar and Justice Agha Faisal of the Sindh High Court heard the Iqama case where Nasir Shah’s counsel was ordered to continue arguments. He said that Shah had ended his ... Read More »

M/s A.N Enterprises approaches SHC seeking release of consignment

KARACHI: Amir Rafique, proprietor of M/s A.N Enterprises approached the Sindh High Court (SHC) and filed constitutional petition seeking release order for consignment of spare parts of Belarus Tractor worth US$ 65000 instead of value US$30064.81 approximately 117 percent higher. On 27 November 2019, counsel for the petitioner argued that petitioner has imported consignment of the above mentioned goods and ... Read More »