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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

Appraisement East distributes work among 13 appraising officers

KARACHI:  Collectorate of Customs Appraisement East Deputy Collector Muhammad Arslan Majeed Rana issued notification for distribution of work among following appraising officers with immediate effect and until further orders:   Read More »

Customs Court directs to submit charge sheet against M/s Al-Aswed Associates & others

KARACHI: The Customs Court directed investigation officer to complete investigation and submit charge sheet against suspects belonged to M/s Al-Aswed Associates, M/s ERA Marine Agencies, M/s Shufs Logistics, clearing forwarding agents who were nominated in first information report for evading duties and taxes in the tune of Rs74, 036, 216. On August 10, 2019, investigation officer submits that first information ... Read More »

Sindh govt bans plastic bags from October 1

KARACHI: The Environment and Alternative Energy Department Sindh on Thursday announced a ban on selling and use of plastic bags. According to Sindh Adviser on Environment Murtaza Wahab, the ban will come into effect from October 1. The provincial adviser said that there will be a ban on manufacturing, selling and use of plastic bags, adding that a big reason ... Read More »

SHC suspends recovery notice issued by FBR to Asif Zardari & Faryal Talpur

KARACHI: The Sindh High Court (SHC) suspended notice issued by Inland Revenue (FBR) to central leader of Pakistan People’s Party (PPP) and sister of former president Asif Ali Zardari, Faryal Talpur and Zardari Group, seeking details of agriculture land’s taxes. On August 09, 2019, a two-member bench also issued notices to officials of Federal Board of Revenue (FBR) and directed ... Read More »

Customs JIAP foils bid to smuggle narcotics

KARACHI: Collectorate of Customs Preventive team deputed at Jinnah International Airport (JIAP) apprehended accused along with narcotics. According to the details, on the tip-off by higher authorities, staff of customs JIAP posted at International Departure beefed up the surveillance during which a passenger was intercepted on suspicion. The customs team inquired regarding the travel documents and conducted checking of the ... Read More »

SC issues notice to NAB on after arrest petition in KPT fraud case

KARACHI: The Supreme Court of Pakistan (Karachi Registry) issued notices to officials of National Accountability Bureau (NAB) and prosecutor on a after arrest bail petition of co-accused Muhammad Ismail, who was arrested in a NAB reference fraud in Karachi Port Trust (KPT). On August 8, 2019, a three-member bench, comprising Justice Faisal Arab, Justice Sajjad Ali Shah and Justice Munib ... Read More »

SBP injects Rs2416.5b into market

KARACHI: State Bank of Pakistan on Friday injected Rs 2416.5 billion into money market for seven days as reverse repo purchase through its open market operation. All 26 bids offered were accepted. The rate of return accepted is 13.36 percent per annum, said a SBP statement. Read More »

Customs Court approves bail to proprietor of Fazal & Co booked in tax evasion

KARACHI: The Customs Court approved pre-arrest bail of suspect namely Rizwan Shaukat son of Shaukat Hussain, proprietor of Fazal & Co, who was booked in mis-declaration and mega tax evasion amounting to Rs31,437, 698. On August 8, 2019, the above mentioned suspect surrender himself before the court and informed that Sindh High Court (SHC) had granted his protective bail and ... Read More »

Overseas Pakistanis remit $2.04b in July

KARACHI: Overseas Pakistani workers have remitted $2.04 billion in the first month of fiscal year 2019/2020 as compared with $1.98 billion in the same month of the last fiscal year, State Bank of Pakistan (SBP) said on Friday. During July 2019, the inflow of worker’s remittances amounted to $2.04 billion, which is 23.91 percent more than June 2019 and 2.9 ... Read More »

Maersk, QICT blackmailing for collection of unjustified demurrage, detention charges: Advocate Kashif Kareem

MULTAN:Blackmailing of Shipping Company M/s Maersk Pakistan (Pvt) Ltd and Qasim International Container terminal (QICT) for the collection of unjustified demurrage and detention charges has seriously disturbed legitimate trade of importers and national economy has suffered huge loss due to their corruption. Said shipping company and terminal operator have misplaced the image of port and trust of importers over the ... Read More »

Pakistan Customs to deploy teams on 7 bordering areas to curb money laundering, smuggling

KARACHI: Pakistan Customs has now spread its security blanket to the bordering areas of the country to root out the menace of money laundering. According to the details, the operations wing of the Pakistan Customs has constituted seven teams which will be deployed on the exit and entry points of the bordering areas of the country to stop the leakage ... Read More »

M/s National Enterprises approaches SHC challenging recovery notice of Rs17.294m

KARACHI: M/s National Enterprises approached the Sindh High Court (SHC) against notice for recovery amounting to Rs17.294 million outstanding in respect of consignments of surgical equipment (shunts, perforators/ external drainage monitoring system) imported and cleared by the petitioner during the last three years. On August 7, 2019, counsel for the petitioner stated in his petition that during last three year, ... Read More »

SHC seeks reply on petition filed by M/s YSK Pharma Private

KARACHI: The Sindh High Court (SHC) issued notices to customs officials and deputy attorney general on a constitutional petition filed by M/s YSK Pharma Private Limited seeking release order for consignment of citric acid monohydrate 8-40Mesh and citric acid monohydrate 8-40Mesh detained by customs officials due to allegedly non-payment of duty and taxes. On August 7, 2019, while the hearing ... Read More »

Foreign exchange reserves fall by $41m to $15.02b

KARACHI: The liquid foreign exchange reserves of the country fell by $41 million to $15.02 billion by week ended August 02, 2019 as compared with $15.061 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves held by the SBP fell by $38 million to $7.729 billion by week ended under review as compared ... Read More »

FBR divides Karachi into two zones to streamline tax collection

KARACHI: To expand tax net in Karachi, the Federal Board of Revenue (FBR) decided to divide Karachi in two zones. The move will help to streamline tax collection in the jurisdiction. FBR also assigned the powers of Broadening of Tax Base (BTB) to two commissioners of income tax. Sources told media that Inland Revenue’s 37 areas are included in Regional ... Read More »

Sindh High Court extends interim bail of Jam Khan Shoro

KARACHI: A bench of Sindh High Court (SHC) on Wednesday extended interim bail of former minister of Sindh Jam Khan Shoro in a NAB inquiry, according to media reports. The bench also ordered the National Accountability Bureau (NAB) to complete its inquiry against Shoro by October 09. The NAB was allowed to investigate against Jam Khan Shoro on July 1st, ... Read More »

M/s Shalimar Food Products moves SHC against show cause notice

KARACHI: Naeem Ali Muhammad Munshi, proprietor of M/s Shalimar Food Products approached the Sindh High Court (SHC) challenging show cause notice issued by customs officials on allegedly importing betel nuts unfit for human consumption. On August 06, 2019, counsel for the petitioner stated in his constitutional petition that petitioner is engaged inter alia in the processing, sale, marketing and distribution ... Read More »

Govt allows aluminium scrap import for industrial use

ISLAMABAD: The federal government has allowed import of aluminium scrap for industrial purposes following a request from Atlas Aluminium for manufacturing aluminium ingots in Pakistan. According to media, Karachi-based Atlas Aluminium had approached the commerce division, seeking permission for import of non-hazardous aluminium scrap as raw material as it had established a state-of-the-art Greenfield plant for manufacturing aluminium ingots through ... Read More »

Zardari Group moves SHC against notice issued by FBR regarding taxes

KARACHI: Central leader of Pakistan People’s Party (PPP) Asif Ali Zardari and his sister, Faryal Talpur and Zardari Group approached the Sindh High Court (SHC) against notice issued by Inland Revenue Department, Federal Board of Revenue (FBR) seeking details of agriculture land’s taxes. On August 6, 2019, senior advocate, Barrister, Khalid Javad Khan filed a petition for Faryal Talpur and ... Read More »

M/s Perfect Craft (SMC-Pvt) Ltd moves SHC against seizure of consignment

KARACHI: M/s Perfect Craft (SMC-PVT) Ltd approached the Sindh High Court (SHC) against seizure/ detention of imported consignment of electro galvanized steel sheets in coils of secondary quality. On August 5, 2019, counsel for the petitioner stated in his constitutional petition that the petitioner had undertaken import on electro galvanized steel sheets in coils of secondary quality and upon arrival ... Read More »