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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

Appraisement West seals Assessment Hall after two appraisers tested positive for COVID-19

KARACHI: Collectorate of Customs Appraisement West sealed Assessment Hall after two appraising officers (AOs) tested positive for corona virus. Sources told that two appraisers Asif Jamil and Khizar Hayat had been transferred from Karachi International Container Terminal (KICT) to Appraisement West. The Collector immediately directed to seal Assessment Hall which is being sanitized and disinfected using chemicals provided by Reliance ... Read More »

FPCCI recommends audit exemption for commercial importers

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended to allow immunity to commercial importers from audit. In its proposals for budget 2020/2021, the FPCCI said that under the last year’s audit policy, the commercial importers who pay advance value added Sales Tax at 3 percent at customs stage were exempted from audit vide Clause 58-E(2) of ... Read More »

Port Qasim to auction Afghan Transit vehicles on 15 May

KARACHI: A large number of motor vehicles of Afghan Transit Trade has been offered for auction at Port Muhammad Bin Qasim, Karachi. The auction is scheduled for May 15, 2020. Following vehicles will be presented for auction: S. No. Lot No. Description No pkgs/Units 1 QAT=01July2011 Suzuki Jeep and Motorcycle 06 units 2 QAT=08June2011 Toyota Corolla car 06 units 3 ... Read More »

ADC Aamer Nawaz Hamid distributes work among deputy, assistant collectors

KARACHI: Collectorate of Customs Additional Collector Headquarters Aamer Nawaz Hamid issued office order for distribution of work among deputy, assistant collector with immediate effect and until further orders:- According to office order:- Deputy Collector Sabir Jamal is assigned work at AFU (admin, s branch, general branch, budget, transport, audit (internal/external), law branch and FTO. Deputy Collector Tausif Aman Gurchani is ... Read More »

Public debt rises to Rs34.1tr in first nine months of FY 2019/20: SBP 

KARACHI: Public debt rose by Rs2.3 trillion in the first nine months of the current fiscal year of 2019/20 as the government’s budget financing needs continue to increase with revenue constraints, the central bank’s data showed. The State Bank of Pakistan’s (SBP) data showed that public debt stood at Rs34.1 trillion at the end of March 2020, up by 7.4% ... Read More »

DP World exposed, PM action on Customs Today report: After Rs4tr IPP grab, IK now face off with Rs400b catch of mighty Sultan Sulayem

KARACHI: Despite orders from the FBR, maritime affairs minister and the ECC of the Cabinet, in the backdrop of Covid-19, to allow 15 days of free storage to importers of all cargo, the terminal operators are adamant to provide relief for only five days. In line with section 14 A of the Customs Act 1969, the Ministry of Maritime Affairs ... Read More »

FBR urged to reduce regulatory duty on lighting fittings

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce regulatory duty on lighting fittings in alignment with LED bulbs and LED tubes. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021 submitted to the FBR, stated that current regulatory duty on lighting fittings with fixed / fitted LED under HS code 9405.1030 ... Read More »

Violation of SOPs: District administration seals Zainab Market, Victoria Market & Gull Plaza

KARACHI: District administration on Wednesday sealed Karachi’s Zainab market over violation of SOPs and ignoring precautionary measures in order to contain the spread of novel coronavirus pandemic. The district administration was of the view that the shopkeepers did not comply with the condition of the sanitizer and were not wearing masks and gloves.The traders strongly resisted the action of the ... Read More »

Customs values of cable wire locks revised vide VR No. 1447/2020

KARACHI: Directorate-General of Customs Valuation determined customs values of cable wire lock under section 25-A of the Customs Act, 1969. The customs values of cable wire locks were determined vide Valuation Ruling No. 731/2015 dated 18.5.2015. As the ruling was very old and values in the international market had shown upward trend an exercise was initiated to determine the customs ... Read More »

DG Valuation issues customs values of engine parts vide VR No 1446/2020

KARACHI: Directorate of Customs Valuation Shafiq Ahmad Latki has issued customs values of engine parts (replacement auto parts) vide Valuation Ruling No. 1446/2020. Consequent upon issuance of CGO No. 15/2019 dated 13.3.2019, Unit of Measurement (UoM) of number of engine parts (replacement auto parts) was changed from kilogram to per unit and accordingly, the UOM was revamped vide Valuation Ruling ... Read More »

Sindh govt allows 35 more factories to open

KARACHI: The Sindh government has granted permission to 35 more factories to resume their operations which were suspended in the wake of coronavirus outbreak. In a notification issued by the Sindh home department, factories related to garments, textiles and steel have been allowed to resume their operations to complete their pending orders. A total of 746 factories have now been ... Read More »

Remittances posts growth of 5.5pc during July-April: SBP

KARACHI: The Workers’ Remittances remittances sent by overseas Pakistanis posted a growth of 5.5 percent during the first 10 months of this fiscal year (FY20). As per the data released by the State Bank of Pakistan (SBP), the Workers’ Remittances received during July – April FY20 amounted to $18,781.6 million recording an increase of $980.6 million or 5.5pc over remittances ... Read More »

Covid-19 pandemic to affect mango exports

HYDERABAD: Sindh Minister for Agriculture Ismail Rahu said on Tuesday that the mango exports are likely to be affected due to the Covid-19 pandemic. Due to Covid-19, there is no transport and labourers are not able to travel so mango harvesting is likely to suffer, said Sindh minister while addressing a press conference in Hyderabad. The minister further said that ... Read More »

SBP further enhances financing limits under Rozgar Scheme to avoid layoffs

KARACHI: The State Bank of Pakistan (SBP) in its bid to further facilitate middle and large businesses, which employ large numbers of people, to ensure payment of wages and salaries under this scheme, has decided to enhance its refinance limits announced earlier. The central bank on Monday announced that it will now finance up to 100 percent of wages and ... Read More »

NBP Nadir House branch to collect WeBOC based customs duty

KARACHI: After Customs Today news got viral on social media about COVID-19 patients in National Bank of Pakistan Customs House branch, the management of National Bank of Pakistan has decided to authorize National Bank of Pakistan Nadir House branch to collect customs duty. A notification issued stated that National Bank of Pakistan has authorized Nadir House branch for WeBOC based ... Read More »

FBR to further reduce sales tax rate in upcoming budget: Nausheen Javaid Amjad

KARACHI: Federal Board of Revenue (FBR) Chairperson Nausheen Javaid Amjad ruled out reducing sales tax rate to single digit and said such move would bankrupt the economy of the country. However, she hinted at reducing the further sales tax rate in the upcoming budget 2020/2021. A press release issued by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on ... Read More »

Terminal operators refuse to extend waiver from detention, demurrage charges: KCCI

KARACHI: Terminal operators have refuse to extend waiver from demurrage and detention charges despite clear instruction of the government to facilitate the trade in the wake of COVID-19. The terminals are demanding hefty amounts of demurrage charges from importers before delivery of cargo which has remained blocked at terminals, said a statement issued by Karachi Chamber of Commerce and Industry ... Read More »

Foreign exchange reserves increase by $292m to $18.75b

KARACHI: Pakistan’s foreign exchange reserves of the country have increased by $292 million to $18.755 billion by week ended April 30, 2020, State Bank of Pakistan (SBP) said on Thursday. The total foreign exchange reserves were at $18.463 billion a week ago. The official reserves held by the central bank increased by $259 million to $12.329 billion by week ended ... Read More »

NAB chairman orders probe into Sindh wheat scam

KARACHI: The National Accountability Bureau (NAB) chairman Justice (r) Javed Iqbal has ordered an inquiry into the alleged theft of wheat worth Rs7 billion in Sindh. As per details, the anti-graft watchdog chairman has directed DG NAB Sukkur to begin a probe into the disappearance of Rs7 billion worth of wheat in Sindh. The move comes after the Sindh government ... Read More »

630 industrial units to become operational by orders of Sindh govt

KARACHI: The Sindh government has granted permission to 33 more industrial units to resume operations in the wake of coronavirus outbreak. In a notification issued by the Sindh home department, factories related to the export sector have been allowed to resume their operations to complete their pending orders. A total of 630 factories have now been allowed to function in ... Read More »