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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 interim charge sheet in goods smuggling case

KARACHI: The Customs Court approved interim charge sheet against suspect namely Muhammad Ishaq son of Abdul Kareem and Muhammad Hashim son of Abdul Kareem, who were arrested in a case of attempting to smuggle foreign origin gutka and other contraband goods. On July 25, 2019, investigation officer submitted charge sheet before the court and informed that prosecution team intercepted a ... Read More »

SHC bars customs officials from taking action against M/s Procter & Gamble

KARACHI: The Sindh High Court (SHC) passed an interim order and directed customs officials not to take any coercive action against the petitioner on a petition filed by M/s Procter & Gamble Pakistan Private Limited against recovery order for Rs1,779,232 on account of duty and taxes evasion and imposed a personal penalty of Rs200,000. On July 24, 2019, a-two member ... Read More »

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

KARACHI: The Customs Court granted after arrest bail to suspect namely Rozi Khan and directed him to make sure to appear on each and every date of hearing, who was booked in a case of attempting to smuggle non-duty paid 13, 176 kilogram betel nuts etc. On July 24, 2019, counsel for the accused appeared before the court and argued ... Read More »

SBP auctions PIBs worth Rs304.4b

KARACHI: The State Bank of Pakistan (SBP) on Thursday auctioned Pakistan Investment Bonds (PIBs) worth Rs309.415 billion for 3, 5 and 10 years in fixed and floating rate bonds. Cut off Yields for the Fixed Rate Bonds increased by 55 basis points to 14.25 percent for 3 years, remained the same at 13.80 percent for 5 years while the 10 ... Read More »

Sales tax to be applicable on internet and broadband services in Sindh

KARACHI: Consumers in Sindh will have to pay 19.5 percent sales tax on internet and broadband services after the removal of the exception. According to a notification by the Sindh Board of Revenue, the Sindh Sales Tax on Services Act allows for the internet and broadband services to be taxed. Since 2011, there was no sales tax applicable on these ... Read More »

OGDC finds new oil, gas deposits in Sindh

KARACHI: Oil and Gas Development Company (OGDC) has found new oil and gas deposits in exploratory well Pandhi No 1, located in Sanghar district of Sindh. “The well has tested 9.12 million standard cubic feet per day (mmscfd) of gas and 520 barrels per day (bpd) of oil,” OGDC Company Secretary Ahmed Hayat Lak said in a notification to the ... Read More »

NAB, FIA must take action against Maersk, QICT to recover billions of rupees ST: Advocate Ijaz Ahmed

FAISALABAD: National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) must take action against M/s Maersk Pakistan (Pvt) Ltd and Qasim International Container Terminal (QICT) for recovering alleged billions of rupees evaded in wake of sales taxes to protect the national economy. It was stated by Faisalabad Tax Bar Association Member Choudhary Ijaz Ahmed advocate while talking to Customs Today ... Read More »

NAB receives 54,344 complaints, recovers Rs4200m during previous year

KARACHI: The National Accountability Bureau (NAB) has received record 54,344 complaints and recovered Rs 4200 million from the corrupt and deposited in national exchequer during the last over a year. According to NAB spokesman, NAB conducted verification of 2,125 complaints, authorized 1059 inquiries, 302 investigations, arrested 561 suspects and filed 590 corruption references in different Accountability Courts during the last ... Read More »

Customs Court awards jail term to suspect in black gold smuggling case

KARACHI: The Customs Court awarded imprisonment which already undergone and fine Rs300,000 to 70 years old suspect Mahmood Ahmed son of Jan Muhammad, who was booked in a case of attempting to smuggle gold in February 12, 1989 and was declared proclaimed offender since 1989. On July 23, 2019, the above mentioned suspect appeared before the court along with counsel ... Read More »

Customs Court accepts charge sheet against suspect booked in polyester fabric smuggling case

KARACHI: The Customs Court approved charge sheet against suspect namely Amad Hussain son of Shah Afzal, who was arrested in a case of attempting to smuggle foreign origin polyester fabric worth Rs33,247,607. On July 23, 2019 investigation officer submitted charge sheet against the above mentioned suspect and informed the court that credible information was received to the effect that huge ... Read More »

LNG supply to be raised by 400 mmcfd

ISLAMABAD: Ministry of Energy is working on a strategy to add around 400 million cubic feet per day (mmcfd) of liquefied natural gas (LNG) to the distribution network of two state-owned companies by the end of this year. “We have to bring 400 mmcfd of LNG to the system by December, out of which 200 mmcfd is guaranteed as a ... Read More »

M/s Gulf Enterprises approaches SHC against high valuation on consignments of polyester filament

KARACHI: M/s Gulf Enterprises, M/s Muhammad Salman, M/s Ashraf Impex and M/s Prime Chem approached the Sindh High Court (SHC) against determination of valuation on consignments of polyester filament yarn at US$ 1.42 per kilograms as against declared value at $1/20 per under Valuation Ruling No 1362/2019. On July 22, 2019, counsel for the petitioner stated in his petition that ... Read More »

Customs JIAP seizes prohibited medicines worth Rs3.2m

KARACHI: Collectorate of Customs team deputed at Jinnah International Airport (JIAP) has apprehended an accused along with prohibited medicine worth millions of rupees. Sources told Customs Today that on the tip-off by higher authorities, staff of Customs posted at Arrival Hall enhanced checking and surveillance during which a passenger namely Mirza Waseem Baig was intercepted on suspicion. The customs team ... Read More »

Customs Court approves remand of suspect in betel nuts smuggling case

KARACHI: The Customs Court approved physical remand of suspect namely Nadeem Ahmed son of Noor Bux who is allegedly involved in smuggling of 16,000 kilograms crushed betel nuts worth Rs 8,000,000. Court also directed investigation officer to arrest financers, abettors and others including owner of impugned goods and vehicle and produce them on next date of hearing. On July 22, ... Read More »

Father of VP FPCCI Arshad Jamal passes away

KARACHI: Muhammad Sharif father of Vice-President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mohammad Arshad Jamal passed away last night after prolonged illness. He was 80 years old. Late Muhammad Sharif left behind five children to mourn his death. Late Muhammad Sharif served as Lieutenant in Pakistan Navy. He retired from service twenty years ago. His Namaz-e-Janaza will ... Read More »

Dock worker loses life at KICT due to management’s negligence?

KARACHI: A Pakistani dock worker lost his life at Hutchison Port’s Karachi International Container Terminal (KICT) on Monday due to negligence of the management. According to initial details, Muhammad Imran s/o Noor Ahmad was died in an accident at the KICT due to old machinery being used for handling of containers. He was shifted to hospital by Edhi ambulance. The ... Read More »

PCG busts huge quantity of smuggled betel nuts worth millions of rupees

KARACHI: Pakistan Coast Guard (PCG) has unearthed huge quantity of smuggled contraband goods including Betel Nuts and foreign origin cigarettes worth millions of rupees in the international market. According to the details, on the tip of higher authority Brigadier Sajid Sikandar Raja of the Pakistan Coast Guard directed the commanding officers to beef up the security and surveillance over the ... Read More »

M/s Procter & Gamble Pakistan approaches SHC challenging order for recovery of duty & taxes

KARACHI: M/s Procter & Gamble Pakistan Private Limited moved the Sindh High Court (SHC) against recovery order for Rs1,779,232 on account of duty and taxes allegedly evaded and levy of personal penalty of Rs200,000. On July 20, 2019, counsel for the petitioner stated in his petition that petitioner is a private company incorporated in accordance with the laws of Pakistan ... Read More »

NAB Court approves physical remand of Faryal Talpur till July 29

KARACHI:  The accountability court on Monday extended the physical remand of Pakistan Peoples Party (PPP) leader Faryal Talpur by seven days. The court extended the remand till July 29 after the National Accountability Bureau (NAB) requested another extension. The PPP leader would now be presented in the accountability court on July 30. In August last year, the Federal Investigation Agency ... Read More »

Customs Court awards imprisonment to suspects in gold smuggling case

KARACHI: The Customs Court awarded 24 days jail term and fine of Rs500,000 each to suspect lady namely Farida Bano, Sana Tufail and Muhammad Tufail Junani, who were involved in a case of attempting to smuggle 4,517 grams gold worth Rs31,176,334 etc. On July 20, 2019, the above mentioned suspects appeared before the court along with their counsel and moved ... Read More »