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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

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 »

E&P companies produce 89,030 BPD oil, 3,935 MMCFD gas in 2018-19

KARACHI: The Exploration and Production (E&P) companies, operating in different parts of the country, produced 89,030 Barrels per Day (BPD) oil, 3,935 Million Cubic Feet per Day (MMCFD) during the last fiscal year. “The total oil and gas production in the country for the year 2018-19 remained 89,030 BBL per day oil and 3,935 MMCFD gas, while the overall energy ... Read More »

Customs Court sends suspects on remand in goods smuggling case

KARACHI: The Customs Court sent suspects namely Ihsanullah son of Jan Muhammad and Feroz Shah son of Walayat Shah to customs department on physical remand in a case of attempting to smuggle foreign origin tyres and other contraband goods. On 27 November 2019, investigation officer of customs preventive produced the above-mentioned suspects before the court and informed that on actionable ... Read More »

SHC restrains customs officials for lodging FIRs against M/s General Services and others

KARACHI: The Sindh High Court (SHC) restrained customs department against registration of FIRs, further coercive action, opportunity of being heard petitioners on a petition filed by M/s General Services and others allegedly involving in mis-declaration. On 26 November 2019, a two-member bench released the order heard by a two-member bench, headed by Justice Aqeel Ahmed Abbasi. Court mentioned in its ... Read More »

Customs Court approves after arrest bail of suspect in Bahria Town Bullet Proof vehicles smuggling case

KARACHI: The Customs Court granted interim after arrest bail to suspect namely Naeem Malik, former officer of Bahria Town, who was booked in new Toyota Land Cruiser Bullet Proof vehicles smuggling case. On 26 November 2019, jail staff produced the above mentioned suspect before the court, his counsel moved after arrest bail and argued that his client is innocent and ... Read More »

Leather manufactures exports increases 10.41pc during 1Q

KARACHI: Leather manufactures exports from the country during first quarter of current financial year grew by 10.41% as compared the exports of the corresponding period of last year. During the period from July-September 2019, leather manufactures worth $131,407 million was exported as compared to the exports of $119,018 million of same period of last year. According the data released by ... Read More »

Customs values of frequency inverters revised vide VR No. 1429/2019

KARACHI: Directorate-General Customs Valuation Director Shafiq Ahmad Latki has revised customs values of frequency interverts through Valuation Ruling No. 1439/2019. Earlier, customs values of frequency interverters were determined through Valuation Ruling No. 973/2016 dated 22.11.2016. A number of representations were received in the Directorate-General that frequency inverters were being declared with various technical and fabricated names so as to avoid ... Read More »

DG Valuation revises customs values of skimmed & instant milk powder vide VR No. 1430/2010

KARACHI: Directorate-General Customs Valuation Director Shafiq Ahmad Latki revised customs values of skimmed milk and instant milk powder through Valuation Ruling No. 1430/2019. Earlier customs values of aforementioned items were determined through Valuation Ruling No. 1329/2018 dated 31.1.2019. The values given in the valuation ruling, being tool, old needed re-determination because the said values did not reflect true prevailing prices ... Read More »

M/s PMCL approaches SHC against freezing & removing of carried forward input tax

KARACHI: Pakistan Mobile Communications Limited has approached Sindh High Court (SHC) and filed constitutional petition against freezing and removing the petitioner’s carried forward input tax as of 30 June 2019 in the petitioner’s electronic Sindh sales tax return for the period July 2019. On 25 November 2019, counsel for the petitioner informed the court that the petitioner challenged the respondents’ ... Read More »

Customs Court approves charge sheet against M/s Saif-ur-Rehman, M/s Khan Enterprises

KARACHI: The Customs Court approved another charge sheet against Imran Khan son of Saif-ur-Rehman, director of M/s Saif-ur-Rehman, Zafar Iqbal son of Muhammad Iqbal, proprietor of M/s Khan Enterprises, Mehmood Iqbal so of Muhammad Iqbal, proprietor of M/s M.M Trading Company, Qaiser Abbas son of S. Muhammad Salman, proprietor of M/s Ali Co and others in Rs5.20 million tax evasion ... Read More »