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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

Customs Court approves after arrest bail of suspect in spare parts, betel nuts smuggling case

KARACHI: The Customs Court approved after arrest bail of suspect Ghulam Muhammad  son of Muhammad who was booked in a case of attempting to smuggle spare parts, betel nuts, foreign origin cloth etc worth Rs7,893,000. On 29 January 2020, counsel for the accused filed after arrest bail petition and argued that his client is innocent and has been falsely implicated ... Read More »

SBP generates Rs634b through T-bills auction

KARACHI: The State Bank of Pakistan (SBP) has reported that the government raised Rs633.57 billion through T-bills, against the target of Rs500 billion. The SBP conducted the auction for the sale of 3-month, 6-month and 12-month Government of Pakistan Market Treasury Bills (MTBs) and received bids amounting to over Rs1.2 trillion. Bids worth Rs949.75 billion were received for 3-month T-bills, ... Read More »

Customs Court seeks reply on bail of clearing agent of M/s Rawandi & Brothers

KARACHI: The Customs Court issued notices to customs department on a pre-arrest bail application filed by Behram Khan son of Haji Hayat Khan, partner of M/s Rawandi & Brothers clearing agent who was booked in a case of attempting to smuggle contraband goods. On 28 January 2020, counsel for the accused argued according to the prosecution M/s TPL Tracker Private ... Read More »

M/s Mian Shafiq Business Int’l moves SHC against enhancement of valuation of goods

KARACHI: M/s Mian Shafiq Business International has approached the Sindh High Court (SHC) and filed a petition against enhancement of valuation of its imported consignment of assorted tyres and tube with flaps of various sizes, specifications, designs & patterns from China. On 28 January 2020, counsel for the petitioner stated that in normal course of business, the petitioner imported a ... Read More »

Assets case: SHC adjourns hearing of bail plea of Khursheed Shah, others

SUKKUR: The Sindh High Court (SHC) has adjourned the hearing of bail petition filed Khursheed Shah and others in assets beyond income case till February 10. A double bench of SHC heard the bail petition filed by Khursheed Shah and other persons nominated in the assets beyond income case. All of the nominees except Khursheed Shah had sought pre-arrest bail ... Read More »

State Bank keeps policy rate unchanged at 13.25pc

KARACHI: The State Bank of Pakistan has decided to keep the interest rate unchanged at 13.25 percent, saying supply side inflation continued to exert pressure on the economy. State Bank Governor Reza Baqir said that when the monetary policy committee had decided the interest rate in July, inflation stood at 8.4 percent. “A few months after that, inflation rate kept ... Read More »

M/s Navtakia Int’l moves SHC against detention of 20 containers

KARACHI: M/s Navtakia International’s owner Muhammad Saleem has approached the Sindh High Court (SHC) against detention of 20 containers of kindey beans total quantity of 480 MT imported from Uganda stopped by Adviser and Director General, Ministry of National Food Security & Research, Plant Quarantine Division. On 27 January 27, 2020, counsel for the petitioner stated that the petitioner import ... Read More »

Customs Preventive submits FIR against M/s Pak Int’l Goods Transportation & others

KARACHI: The Customs Court directed investigation officer of Customs Preventive to complete investigation against Dawood, owner of M/s Pak International Goods Transportation, Rizwan, manager of M/s Pak International Goods Transportation and others who were booked in a case of attempting to smuggle non-duty paid betel nuts, foreign cigarettes etc. On 27 January 2020, investigation officer produced the first information report ... Read More »

Pakistan Customs playing vital role to strengthen economy: Hafeez Shaikh

KARACHI: Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has said that Pakistan Customs is playing a role in lifting up the country’s economy. According to the details, to commemorate the efforts of Pakistan Customs, a glorious ceremony was held at Customs House, Karachi. The commencement of the event was marked by flag hoisting ceremony. Chief ... Read More »

Prime Minister Imran Khan message on International Customs Day 2020

Pakistan Customs celebrated the International Customs Day on 26th January, 2020 to acknowledge its valuable contributions for fostering sustainability for people, prosperity and planet. It is indeed an opportunity for Pakistan Customs to reiterate its resolve to be a modern organization and play its due role in making Pakistan safe and grow economically. This day reminds us to integrate with ... Read More »

SHC seeks reply on petition filed by M/s Nafees Ur Rehman

KARACHI: The Sindh High Court (SHC) directed customs officials to file para wise comments on a constitutional petition filed by M/s Nafees Ur Rehman seeking release order of its imported consignment of 390 cartons of Indian assorted artificial/ imitation jewelery in the garb of smuggling. On 25 January 2020, a two-member bench, headed by Justice Aqeel Ahmed Abbasi was hearing ... Read More »

SHC seeks reply on petition filed by M/s Zaka Sons against show cause notice

KARACHI: Sindh High Court (SHC) directed customs officials to make sure to file their para wise comments on a petition filed by M/s Zaka Sons show cause notice for recovery of duties and taxes by assistant collector Group-III Appraisement East. On 24 January 2020 a two-member bench headed by Justice Aqeel Ahmed Abbasi was hearing the matter. During the hearing, ... Read More »

Customs Court issues NBWs against absconding importers in sales tax evasion case

KARACHI: The Customs Court issued non-bailable warrants against absconding suspects’ owners/ directors of M/s Unico Printer, M/s Zawwar Enterprises, M/s Glaxy Traders, M/s Zeeshan Enterprises, M/s G.F Enterprises, M/s Pioner international and others in tax evasion of Rs5.744 million along with default surcharge under section 34 of the sales tax act 1990. On 24 January 2020, investigation officer submitted challan ... Read More »

Customs Court approves charge sheet against M/s M. Siddiq Sons & others

KARACHI: The Customs Court approved charge sheet against owners/ directors of M/s M. Siddiq Sons, M/s Nadeem Siraj & Company, M/s Babar International, M/s Glammour International, M/s ACME International and others in evasion of duty and taxes worth Rs4.074 million sales tax evasion case. On 23 January 2020, investigation officer submitted charge sheet and informed the court that the above ... Read More »

M/s Qazi & Company approaches SHC against detention of consignment

KARACHI: M/s Qazi & Company, M/s Hamza International and M/s Radium Silk Factory approached the Sindh High Court (SHC) against detention of their imported consignment comprising carbon block N330, 4000 on the unit of $ 0.67 due to disputed valuation ruling. On 23 January 2020, counsel for the importers stated that petitioners have imported a consignment of carbon block N330, ... Read More »

Gezhouba Group shows interest in completing K-IV water project

KARACHI: Chinese company Gezhouba Group has penned down a letter to Sindh Chief Minister Murad Ali Shah showing keen interest in completing the bulk water supply project, K-IV, in Pakistan. Company’s executive general manager Shi Yu expressed: “[We] noticed that … things are not going smoothly due to the infeasible design.” Gezhouba Group expressed the importance of the project, and ... Read More »

M/s Naveed Impex approaches SHC against enhancement of valuation

KARACHI: M/s Naveed Impex has approached the Sindh High Court (SHC) and filed a petition against enhancement of valuation of its imported consignments comprising citric acid monohydrate/ anhydrous on unit value of $1.00 per kg instead of US$ 0.55 per kg under the garb of impugned valuation ruling no 1015/2017. On 23 January 2020, counsel for the petitioner stated that ... Read More »

Customs Court approves bail of suspect in gold and foreign currency smuggling case

KARACHI: The Customs Court approved after arrest bail of suspect Muhammad Islam son of Muhammad Ishaque in a case of smuggling 04.4 kg gold, $450,000 and AED255 from Sukkur to Karachi. On 22 January 2020, during the hearing, investigation officer of customs preventive submitted charge sheet against the above mentioned suspect and argued that on an actionable information, customs preventive ... Read More »

Textile exports grow 3.94pc in 1H of FY2020

ISLAMABAD: Pakistan’s textile exports have recorded growth of 3.94 percent in first six months (July to December) of the ongoing financial year (FY20) mainly due to cash support to various sectors and currency depreciation. According to Pakistan Bureau of Statistics (PBS), the country has exported textile commodities worth $6.91 billion in July-December period of FY20 as compared to $6.64 billion ... Read More »

SBP reserves rise to $11.7b

ISLAMABAD: Foreign exchange reserves held by the State Bank of Pakistan (SBP), during the week ending January 17, increased by $146 million to $11.73 billion. According to the data released by the central bank, the total liquid foreign reserves held by the country stood at $18,271 million on 17th of this month. The break-up of the foreign reserves position is ... Read More »