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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

SHC seeks reply on petition seeking release of imported goods

KARACHI: The Sindh High Court (SHC) issued notices to customs officials and directed them to file their para wise comments on a constitutional petition filed by Muhammad Atiqueur Rehman seeking imported cloth, bulbs, furniture, gas stores, lights glue machine and auto parts etc. On 17 March 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing the matter ... Read More »

Customs Court summons witnesses against Aslam Singapuri in Rs28.57m tax evasion case 

KARACHI: The Customs Court directed investigation officer to produce witnesses against Aslam Khan alias Aslam Singapuri, sitting MNA 254 Karachi, booked in a case of mis-declaration and evading the duty and taxes in the tune of Rs28.57 million to the national exchequer. On 17 March 2020, during the hearing, accused appeared before the court, court directed investigation officer to produce ... Read More »

SBP cuts key interest rate by 75 bps to 12.50pc

KARACHI: The State Bank of Pakistan (SBP) on Tuesday cut its key interest rate by 75 bps to 12.50pc, the first reduction in four years, citing a declining inflationary pressure, media reported on Tuesday. However, inflation has lately registered a decline, which the central bank said in a statement was mainly due to the global slowdown following an oil price ... Read More »

SHC seeks reply on petition challenging Valuation Ruling No 756/2015

KARACHI: The Sindh High Court (SHC) issued notices to the customs department and deputy attorney general on a petition filed by M/s Rehan Can (Pvt) Ltd against enhancement of valuation of imported ETP TIN Plate secondary quality from $0.595 kg to $0.765 kg under the garb of valuation ruling no 756/2015. On 16 March 2020, a two-member bench, headed by ... Read More »

Customs Court approves bail of suspect in contraband goods smuggling case

KARACHI: The Customs Court granted bail to suspect Muhammad Rashid son of Fazal-ur-Rehman, representative of M/s Al-Asghar Goods Transport Co Karachi, who was allegedly involved in a case of attempting to smuggle 15,000 kg monosodium glutamate (ajinomoto salt). On 16 March 2020, counsel for the accused filed bail application and argued that his client is innocent and has been falsely ... Read More »

SBP ready to battle any market shocks amid coronavirus crisis

KARACHI: The State Bank of Pakistan (SBP) has said it is ready to take action to support financial markets during COVID-19 pandemic outbreak – a mysterious pneumonia-like disease caused by the novel coronavirus that has affected nearly 150 countries so far. The current market volatility in Pakistan is externally driven and the strengthening in the fundamentals of Pakistan’s economy that ... Read More »

M/s Uniqui Industries approaches SHC against recovery notice

KARACHI: M/s Uniqui Industries has approached the Sindh High Court (SHC) and filed petition challenging demand notice for recovery of Rs13,330,964 on account of imported LED TV panels, parts and components. On 14 March 2020, counsel for the petitioner stated in his petition that petitioner is engaged in lawful import of LED TV Penal, parts and components and registered as ... Read More »

RTO-II posts 60pc growth during February: Badaruddin Ahmed

KARACHI: The outstanding efforts of broadening the tax base (BTB) helped Regional Tax Office (RTO)-II to achieve above 60 percent revenue collection growth in February 2020. Talking to media, he said “the tax office worked aggressively and brought many new taxpayers into the tax net belonging to various sectors of the economy”. It is pertinent to mention that the tax ... Read More »

Customs Court approves remand of suspect booked in HSD oil smuggling case

KARACHI: The Customs Court approved remand of suspect namely Rahimullah Khan son of Sazullah Khan and sent back him to Pakistan Coast Guard, who was booked in a case of attempting to smuggle non-duty paid high speed diesel. On 13 March 2020, investigation officer produced the above mentioned suspect before the court and informed that on an actionable information, a ... Read More »

Customs Court approves charge sheet against suspects in tobacco smuggling

KARACHI: The Customs Court approved charge sheet against suspects namely Mirza Aurangzain Baig son of Younus Baig and Muhammad Jawad son of Chand Hussain, who were involved in a case of attempting to smuggled non-duty paid tobacco worth Rs6,600,000. On 14 March 2020, investigation officer of Anti-Smuggling Organization submitted charge sheet and informed the court that on an information was ... Read More »

M/s S.U Enterprises approaches SHC challenging VR No1352/2019

KARACHI: M/s S.U Enterprises approached the Sindh High Court (SHC) and filed a petition challenging valuation ruling no 1352/2019 for enhancement of valuation of imported chlorinated paraffin plastoil. On 13 March 13, counsel for the petitioner stated that petitioner is engaged in lawful import of chlorinated paraffin plastoil and always fulfill all the legal formalities according with law. He further ... Read More »

Coronavirus fears: CAA closes five major airports for international flights

KARACHI: The Civil Aviation Authority (CAA) implementing on the decisions taken in National National Security Council (NSC) meeting on Saturday closed five major airports of the country for international flights. According to a notification, the international operations will remain suspended at five major airports across the country including those in Peshawar, Faisalabad, Quetta, Sialkot and Multan. However, domestic flights will ... Read More »

SHC seeks comments on petition filed by M/s Aasher Trading Company

KARACHI: The Sindh High Court (SHC) directed customs officials to act accordance with law and submit para wise comments on a constitutional petition filed by M/s Aasher Trading Company against enhancement of value of imported comprising of coir-mattress fiber/ coir bristle fiber/ coir yarn 2 ply. On 12 March 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi heard ... Read More »

Coronavirus fears: Govt imposes ban on smoking in public transport

KARACHI: With 15 confirmed coronavirus cases in Sindh, the provincial government on Saturday imposed a ban on smoking in intra-city buses. The Sindh transport minister Awais Qadir Shah, in a statement, has said that besides smoking, there will be a complete ban over accomodating more passengers in buses than its capacity. The transport minister has advised passengers to avoid shaking ... Read More »

Customs Court rejects after arrest bail of suspects in HSD oil smuggling scam

KARACHI: The Customs Court dismissed after arrest bail petitions of Muhammad Ishaq, Muhammad Yousuf, Imran-ur-Rahman, Shahbaz Khan, Maaz Bin Jawad, Muhammad Junaid and Syed Tariq Ali Shah, who were booked in a case of attempting to smuggle huge quantity of non-duty paid HSD oil and other contraband goods. It needs to be pertained that on last date of hearing court ... Read More »

SHC seeks report about leakage of toxic gas in near Keamari Town

KARACHI: A division bench of Sindh High Court (SHC) directed federal and provincial governments to submit concrete and final report causes should be mentioned that what was the cause of leakage of toxic gas alleged from inside Karachi Port Trust (KPC) area or Keamari Town. On 11 March 2020, a two-member bench, headed by Justice Muhammad Ali Mazhar was hearing ... Read More »

CDNS achieves revenue collection target of Rs150b

KARACHI: The Central Directorate of National Savings (CDNS) has achieved collection net target of Rs150 billion by March 10 of fiscal year 2019-20. The CDNS has set Rs352 billion annual collection target for the year 2019-20 as compared to Rs324 billion for the previous year’s 2018-19 to enhance savings and promoting saving culture in the country, senior official of CDNS ... Read More »

Novel coronavirus: Visitors of Customs House advised to avoid long sit-ins

KARACHI: Collectorate of Customs Appraisement & Facilitation (West) Deputy Colector Ali Mohtashim Minhas has issued a circular advising visitors to avoid unnecessary long sit-ins at visitor’s areas due to outbreak of novel coronavirus. The circular issued in this regard read “owing to the probable outbreak of novel coronavirus, public visiting Customs House is advised to avoid unnecessary long sit-ins at ... Read More »

RTO-II collects Rs670m IT through debit, credit cards foreign transactions

KARACHI: Federal Board of Revenue (FBR) Regional Tax Office (RTO)-II collected Rs670 million as income tax from foreign transactions through debit or credit card during eight months of current fiscal year. The RTO-II collected only Rs83 million in the corresponding period of the last fiscal year. The collection of withholding tax was introduced through Finance Act, 2018 and it was ... Read More »

SHC seeks remarks on petition filed by M/s H.H Enterprises

KARACHI: The Sindh High Court (SHC) issued notices to the customs officials and deputy attorney general on a petition filed by M/s H.H Enterprises against enhancement of valuation of its imported consignments. While hearing of the petition, on March 11, 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi directed them to file their respective para wise comments on ... Read More »