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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 seeks progress report against M/s Essa Steel & others

KARACHI: The Customs Court directed investigation officer to complete investigation and submit progress report against Essa Farooq of M/s Essa Steel and others associates-in-crime who were booked in a case of evasion of duty and taxes by mis-using and illegally claiming benefits of SRO655(1)/2006 dated June 22, 2006. On 12 December 2019, investigation officer appeared before the court along with ... Read More »

SHC grants bail to Agha Siraj Durrani in assets case

KARACHI: The Sindh High Court (SHC) on Friday granted bail to Speaker Sindh Assembly Agha Siraj Durrani and other accused named in assets beyond means reference case. Durrani has been directed to submit two surety bonds of Rs1 million each in the court. Agha Siraj Durani is facing corruption charges and currently in jail on judicial remand. The other accused ... Read More »

NAB DGs Farooq Awan, Najaf Mirza given special task to take mega cases to logical end

ISLAMABAD: National Accountability Bureau (NAB) chairman Justice (R) Javed Iqbal made some changes in the bureau’s hierarchy, by transferring/posting three director generals. According to a notification issued by the anti-graft watchdog, DG Brig (r) Farooq Naser Awan (Grade-21) has been transferred from Karachi to Peshawar. DG Najaf Quli Mirza (Grad-21), who was serving at the NAB headquarters, has been transferred ... Read More »

Importers move SHC challenging Valuation Ruling No 1015/2017

KARACHI: The Sindh High Court (SHC) directed customs officials and deputy attorney general to file their para wise comments on a constitutional petition filed by M/s Nusrat Corporation and M/s Kashif Associates seeking release order of imported consignment comprising of citric acid anhydrous on unit value of $0.595. On 11 December 2019, a two-member bench headed by Justice Aqeel Ahmed ... Read More »

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

KARACHI: The Customs Court directed investigation officer of Appraisement East to submit charge sheet in another case against 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 are booked for import with active connivance of his clearing agent deposited fake/ forged/ bogus pay orders as ... Read More »

JS Global submits PAI to acquire up to 45.03pc shares of Next Capital

KARACHI: JS Global Capital Limited, on behalf of its clients or acquirers, has submitted a Public Announcement of Intention (PAI) to acquire up to 45.03pc shares (20,264,344 shares) of Next Capital Limited. In a letter sent to the Pakistan Stock Exchange (PSX), JS Global Capital Limited stated, “On behalf of our clients, Muhammad Najam Ali, Mrs Hanna Khan and Muhammad ... Read More »

SHC disposes of plea against sale, manufacture of ‘faulty bomb detectors’

KARACHI: A two-member bench of the Sindh High Court (SHC), comprising Justice Mazhar and Justice Agha Faisal disposed of the plea pertaining to the manufacture and sale of Khoji, an allegedly defective bomb detector, by the Airport Security Force (ASF). The ASF submitted its reply before the court. The plea maintained that ASF has made a bomb detector named Khoji, ... Read More »

Director I&I Irfan Javed recovers Rs221.7m duty, taxes from M/s OGDCL

KARACHI: Under the supervision of Director Irfan Javed Directorate-General of Customs Intelligence & Investigation (I&I) recovered Rs221,715,659/- (Rs221.7 million) on evaded by M/s Oil & Gas Development Company Limited (OGDCL) on import of seamless pipes imported vide GD No. KEWB-HC-2414 dated 5.12.2019. According to the details, in pursuance of an information of undue claim of exemption under SRO 678(I)/2004, dated ... Read More »

Remittances jump 9.35pc during November

KARACHI: Pakistan’s remittances rose by 9.35 per cent to $1.819bn during November, from $1.664bn in corresponding month of FY19, reported the State Bank of Pakistan. However, on a monthly basis, foreign inflows declined by 9.05pc — or $181m — compared to October this year, when the figure stood at $2 billion. Similarly, remittances during the first five months of this ... Read More »

SHC seeks comments on petition filed by M/s Khurram and Sons

KARACHI: The Sindh High Court (SHC) issued notices to the customs’ high officials and deputy attorney general on a constitutional petition filed by M/s Khurram and Sons against enhancement of valuation of imported styrene butadiene rubber (SBR), synthetic rubber NBR6240 unit value $1.65/kg to $2.50/kg instead of $1.25 and $1.28 per kg under the garb of valuation ruling no 1091/2017 ... Read More »

Customs Court approves remand of suspect in HSD Oil smuggling case

KARACHI: The Customs Court sent suspect namely Muhammad Nadeem son of Muhammad Essa to lock-up of customs department on physical remand who was nominated in a case of attempting to smuggle 60,000 liters high speed diesel valuing of Rs7,680,000 approximately. On 10 December 2019, investigation officer of Customs I&I produced the above mentioned suspect before the court and informed that ... Read More »

Under DG Farooq Naser Awan’s supervision, NAB Karachi makes recoveries of Rs57b

KARACHI: In compliance with the direction of Chairman NAB Justice (R) Javed Iqbal and NAB’s motto “Our Faith, Corruption Free Pakistan”, NAB Karachi organized an Anti-Corruption walk in line with the International Anti-Corruption Day which is observed every year on 9th December. NAB Karachi arranged awareness walk followed by seminar on “Corruption Free Pakistan – Accountability for All”, prize distribution and ... Read More »

Foreign exchange reserves swell to nine-month high of $17.29b

KARACHI: Pakistan’s foreign exchange reserves have risen to nine-month high of $17.29 billion as the State Bank of Pakistan (SBP) received $1.3 billion from the Asian Development Bank (ADB). Finance ministry spokesman Omar Hamid Khan said in his Twitter message that “Foreign exchange inflows continue to surge as workers remittance by overseas Pakistanis recorded at $1.81billion, up 8.4% in November ... Read More »

M/s TF Industries moves SHC against enhancement of valuation of imported non-woven fabrics

KARACHI: M/s TF Industries has approached the Sindh High Court (SHC) and filed a petition against enhancement of valuation of imported non-woven fabrics from at the rate of $1.80/ per kg to $2.10 per kg by Collector of Customs Appraisement East and West. On 9 December 2019, counsel for the petitioner argued that petitioner is a regular importer of non-woven ... Read More »

Customs Court sends suspects to jail in HSD smuggling case

KARACHI: The Customs Court sent suspects Fazal Bacha son of Shah Muhammad and Muhammad Javed son of Bacha Khan to Central Jail on judicial remand in a case of attempting to smuggle 10090 liters high speed diesel. On 9 December 2019, investigation officer of Anti-Smuggling Organization (ASO) produced the above mentioned suspects before the court and informed that on an ... Read More »

Nepra slaps Rs50m fine over K-Electric

KARACHI: The National Electric Power Regulatory Authority’s (NEPRA) has imposed an amount of Rs 50 million as fine upon K-Electric directing the power utility to ensure fully secured power distribution system by April 2020. The power regulator has also directed the utility providing electricity to Karachi to ensure third party evaluation of its power distribution system. Scores of people died ... Read More »

Finland invites Pakistan to explore business opportunities

KARACHI: Finland has encouraged Pakistani business community to explore new opportunities in any sector in the Northern European state. Ambassador of Finland to Pakistan Harri Kamarainen addressed the members of Karachi Council on Foreign Relations in Karachi, and welcomed the business community of Pakistan to access business sector, invest or partner in any sector of Finland. Finland Envoy Harri Kamarainen ... Read More »

Customs Court extends remand of suspect booked in foreign origin cloth smuggling

KARACHI: The customs court extended the physical remand of suspect namely Shah Khalid son of Abdul Qadir and sent him back to customs lock-up, who was booked in a case of attempting to smuggle foreign origin cloth total valuing of Rs13,111,371. On 7 December 2019, investigation officer produced the above mentioned suspect before the court and informed that on actionable ... Read More »

Customs Court awards jail term to suspect involved in smuggling case

KARACHI: The Customs Court awarded imprisonment for 5 years and Rs10,00,000 fine to suspect namely Nisar Ahmed son of Qadir Bakhsh on plead guilty, who was absconder for a long time in a case of attempting to smuggle non-duty paid huge quantity of foreign origin wine, whisky and beer etc. On 7 December  2019, court announced verdict on plead guilty ... Read More »

Customs JIAP foils attempt to smuggling heroin worth Rs5.5m

KARACHI: Pakistan Customs staff of Model Customs Collectorate (MCC) Jinnah International Airport (JIAP) posted at International Departure has apprehended accused along with narcotics. According to the details, on the tip of Deputy Collector Customs Jinnah International Airport (JIAP) Tuseef Aman Gorchani, the staff posted at International Departure boosted up the surveillance during which one passenger was intercepted on suspicion. The ... Read More »