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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

SBP to down interest rates as inflation eases: Reza Baqir

KARACHI: The State Bank’s Monetary Policy Committee is independent and interest rate decisions are taken after considering inflation, SBP Governor Reza Baqir said while answering questions raised by the Karachi Chamber of Commerce and Industry (KCCI) during his visit. Responding to KCCI demand for reducing the policy rates, he assured that the SBP would go for the same as soon ... Read More »

SHC grants time for legislation against gutka till Dec 10

KARACHI: A bench of the Sindh High Court (SHC) granted time to the provincial authorities for legislation to impose ban on making and selling Gutka and other harmful substances till December 10. On November 18, 2019, a division bench headed by Justice Salahuddin Panhwar also ordered to continue action against those making and selling gutka and other harmful substances. The ... Read More »

Customs values of un-coated offset paper for writing, printing & photocopy revised

KARACHI: Directorate General Customs Valuation Director Shafiq Ahmad Latki determined customs values of uncoated offset paper for writing, printing and photocopy under Section 25-A of the Customs Act, 1969 vide Valuation Ruling No. 1428/2019. Earlier, customs values of uncoated offset paper for writing, printing and photocopy were determined vide Valuation Ruling No. 1248/2018 dated 19.1.2018. As the ruling was old ... Read More »

Customs Exports assigns night duty to 7 appraising officers

KARACHI: Collectorate of Customs Exports Assistant Collector Sadaf Noor Elahi issued office order for assigning night duties to 7 appraising officers. The office order read “in order to ensure the processing of export consignment at all the terminals of Collectorate of CustomsExports i.e. SAPT, PICT, KICT, NLCCT etc on 24×7 basis, following assessment officers are hereby directed to perform the ... Read More »

Customs Preventive impounds smuggled gutka worth Rs12.075m from Gulberg Town

KARACHI: Collectorate of Customs Preventive, Anti-Smuggling Organization (ASO) has recovered huge quantity of smuggled gutka from Hilal Associates located in Gulberg Town. Sources told that mareket value of seized goods is Rs12.075 million while, Collector Saquif Saeed received information w that huge quantity of smuggled foreign origin gutka dumped at Hilal Associates, Gulberg Town, Karachi and would likely to be ... Read More »

Customs Court seeks progress report against M/s Hassan Steels, M/s Royal Impex & others in tax evasion scam

KARACHI: The Customs Court directed investigation officer to complete investigation against proprietor/ owners/ partner of M/s Hassan Steels, owners/ directors/ partners of M/s Royal Impex, owners/ directors of M/s Balochistan Engineering Works, Muhammad Abdullah, owner/ partner of M/s Cosmos Trading Development and otherwho were involved in mega tax evasion scam. On November 15, 2019, investigation officer submits first information report ... Read More »

Customs Court approves pre-arrest bail of suspect in mobile phones smuggling case

KARACHI: The Customs Court granted pre-arrest bail to suspect namely Muhammad Ali Gaba, who was booked and absconder in a case of attempting to smuggle huge foreign mobile phones. On 16 November 2019, the above mentioned suspect appeared before the court along with his counsel and moved petition for pre-arrest, after the arguments, court granted his bail against the surety ... Read More »

SHC adjourns hearing on Agha Siraj bail plea to Nov 25

KARACHI: The Sindh High Court (SHC) on Monday adjourned proceedings into Speaker Sindh Assembly Agha Siraj Durrani’s bail plea in assets beyond means case till November 25. On 11 November 2019, the court further directed the National Accountability Bureau (NAB) persecutor to present his arguments on the bail plea the same day as he was unable to properly plead his ... Read More »

SBP to announce monetary policy on Nov 22

KARACHI: State Bank of Pakistan (SBP) will announce monetary policy on Friday, November 22, 2019 for next two months, said a statement on Monday. The SBP kept the policy rate unchanged at 13.25 percent in its monetary policy announcement on September 16, 2019. In the previous monetary policy, the SBP noted two key developments since the last MPC meeting. First, ... Read More »

Collector Saqif Saeed’s Preventive nabs director of M/s E-Movers

KARACHI: Collectorate of Customs Preventive Investigation & Prosecution (I&P) branch arrested director of M/s E-Movers who was identified as Tanveer in relation to the replacement of Afghan transit trade cargo during transit. According to sources that after authentic of information passed by Customs Preventive Karachi, Directorate General of Transit Trade has unearthed a mega scam whereby high value and high ... Read More »

Govt giving subsidies to improve economy: Hafeez Shaikh

KARACHI: Adviser to Prime Minister on Finance Hafeez Shaikh on Saturday said the government is giving subsidies to industrialists and exporters to improve the economy. Hafeez Shaikh while addressing a ceremony of the Overseas Investors Chamber of Commerce and Industry , said International Monetary Fund has also expressed confidence on the economic reforms agenda of the government. The adviser said ... Read More »

Customs Court issues NBWs against owner of M/s Azam & Sons

KARACHI: The Customs Court issued non-bail able warrants against suspect Imran Butt son of Muhammad Azam Butt, owner of M/s Azam and Sons, who was booked in a case of illegal removal of in-bonded goods without filing of ex-bond GD, thus evading legitimate government revenue. On November 15, 2019, investigation officer of Appraisement East submitted that the above mentioned suspect ... Read More »

Customs Court approves bail of suspect involved in foreign origin fabric smuggling

KARACHI: The Customs Court granted bail to suspect namely Inamullah son of Abdul Qahir who was arrested in a case of attempting to smuggle non-duty paid polyester dyed fabric, betel nuts etc. On November 15, 2019, the above mentioned suspect appeared before the court along with his counsel and moved after arrest bail petition, he argued that his client is ... Read More »

Pakistan ready to give maximum facilities to ECO states: Sindh governor

KARACHI: Sindh Governor Imran Ismail assured, on behalf of Government of Pakistan, that the government would extend all possible support and facilitation to the ECO member countries for making this block as a strong economic corridor of the world. ” Here, I am speaking on behalf of my Prime Minister Imran Khan. I assure you, the Prime Minister is committed ... Read More »

Proprietor of M/s Khalil Hnif Impex approaches SHC for removal of name from ECL

KARACHI: Khalil-ur-Rehman, proprietor of M/s Khalil Hnif Impex approached the Sindh High Court (SHC) for removal of his name from Exit Control List (ECL) which was placed due to his alleged involvement for illegal benefit obtained through refund of tax. On 14 November 2019, counsel for the petitioner filed constitutional petition and argued that petitioner is doing export business and ... Read More »

Customs Court approves remand of accused in mobile phones smuggling case

KARACHI: The Customs Court sent suspects Saad son of Abdul Samad and Abdullah Khan son of Iqbal Ahmed Khan on physical remand in a case of attempting to smuggle foreign mobile phones. On 14 November 2019, investigation officer customs preventive produced the above mentioned suspects before the court and informed that suspects were coming from Dubai through Emirates Airline and ... Read More »

Sindh establishes dedicated doing business reforms unit

KARACHI: Sindh government has established a dedicated Doing Business Reforms Implementation Unit (DBRIU) in Sindh Investment Department to ease, improve and enforce further reforms in starting, running and promoting business in the province. According to media, the unit will coordinate with all the government functionaries, private sector organisations and all other related business stakeholders so that anyone who wants to ... Read More »

LTU detects tax evasion of Rs100b from July to October of FY2019-20

KARACHI: The country’s corporate sector has been found involved in at least Rs100 billions of tax evasion and avoidance during the last four months, senior Large Taxpayers Unit (LTU) revealed on Thursday. Inland Revenue Commissioner Zulfiqar Memon and Girdhari Mal while addressing a press conference said that Large Taxpayers Unit (LTU) Karachi, unearthed Rs100 billion worth of tax fraud in ... Read More »

Tax evasion: Customs Court seeks charge sheet against M/s Iffat Enterprises & M/s Akhtar & Sons evasion case

KARACHI: The Customs Court directed investigation officer to complete investigations and submit charge sheet against Hassan Raz, proprietor of M/s Iffat Enterprises and owner/ partners of M/s Akhtar & Sons and other to be ascertained during the course of investigation, who were booked in a case of evasion of duties and taxes in the tune of Rs6,825,718. On November 12, ... Read More »

Mobile phones commercial imports increase by 110pc

KARACHI: The successful implementation of the new mobile phone registration system, introduced by the Pakistan Telecommunication Authority, has resulted in a significant increase in commercial imports of mobile phones. According to statistics available with the media, commercial import of mobile phones has increased by 110 per cent in one year. In the year 2018, 9,564,424 mobile phones were imported, whereas ... Read More »