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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

Shipping Bill to be enacted soon: Kamran Michael

KARACHI: Federal Minister for Ports and Shipping Kamran Michael has said that the government would soon put the Shipping Bill before the National Assembly for approval to modernise the ports and shipping sector. He said this during a meeting organised by the All Pakistan Shipping Association (APSA). Michael informed that the Shipping Bill had been lying with the ministry for ... Read More »

Chief Collector, Collector inspect examiners’ performance on iPads, tablets

KARACHI: Chief Collector Appraisement-South Nasir Masroor Ahmed and Collector of Model Customs Collectorate of Appraisement-West, Muhammad Saleem along with the team of Customs Today visited Karachi International Container Terminal (KICT) in order to inspect the working of examining officials after getting iPads and tablets of latest technology for examining and assessing Goods Declarations (GDs). Chief Collector Appraisement-South and Collector MCC ... Read More »

Rs450m vehicle amnesty scam: Audit of Customs officials’ accounts suggested

KARACHI: The 3-member fact-finding committee comprising MCC Exports Collector Dr Wasif Memon, Additional Director of Directorate of Intelligence and Investigation-Customs Karachi Khalil Yousufani and Additional Director Audit in its report has recommended a complete audit of bank accounts of all customs officials including officers deployed in Vehicle Group (Group-VII) during the period of Vehicle Amnesty Scheme. According to sources in ... Read More »

M/s Eastern Garments booked in tax evasion of Rs96.6m, Contravention Report issued

KARACHI:  Model Customs Collectorate of Exports has issued a Contravention Report (CR) against M/s Eastern Garments (Pvt) Limited for violation of Section 19 and 32(3A) of the Customs Act, 1969 read with Rule 3(1) (f)(i) and (j) of SRO327(I)/2008 which included tax evasion of Rs 96,582,274 including Rs 92,881,179 in share of customs duty and taxes and Rs 3,701,095 in excess of imported ... Read More »

Chinese delegation visits Gwadar port

GWADAR: A Chinese delegation visited Gwadar deep sea port to review arrangements for making it functional. On the occasion, Gwadar Development Authority Director General Dr Sajjad Hussain Baloch gave a detailed briefing to the delegation on Gwadar Port, Gwadar City and other projects pertaining to Gwadar. The Chinese delegation expressed their interest in investing in Gwadar City, steel industries, cement ... Read More »

CA deficit rises to $2.16b

KARACHI: Current account deficit in the first 10 months – July-April – of the current fiscal year rose to $2.162 billion, reflecting a large trade gap compared to $1.574bn during the corresponding period last year. According to the State Bank report, the foreign exchange reserves of the country have significantly increased over the past six months, eroding any possibility of ... Read More »

Software on importation of potatoes working in One-Customs

KARACHI: Directorate of Reforms and Automation has formulated software in order to monitor the importation of allocated quota of potatoes at zero rating. FBR sources informed Customs Today that the software has been made up in One-Customs instead of Web-Based One Custom (WeBOC) computerized system as zero-rated facility on import was only available in One-Customs, not in WeBOC. It further ... Read More »

Fate of sealed petrol pumps: Customs faces hindrance in proceedings

KARACHI: The cold response by most of the Oil Marketing Companies in order to verify the legal status of around 23 sealed petrol pumps is creating hindrance in the proceedings of Pakistan Customs officers in deciding their status. FBR sources confirmed Customs Today that the authorities concerned of Pakistan Customs have held several meetings with the officials of Oil Marketing ... Read More »

FTA/PTA certificates mandatory for claiming exemption from customs duty

KARACHI: The Collector of Model Customs Collectorate of Appraisement-East, Najeebur Rehman Abbasi has made it mandatory for all importers and clearing agents to submit original Free Trade Agreement (FTA)/ Preferential Trade Agreement (PTA) certificates at dedicated FTA counter of the Collectorate within three days from the date of release of the consignments in those cases where Goods Declaration under FTA/PTA ... Read More »

Exporters eye $65m from mango exports

KARACHI: All Pakistan Fruits and Vegetables Exporters, Importers and Merchants Association (APFVEIMA) has fixed mango export target at 175,000 tonnes for this year, eyeing to fetch $65 million. Last season, the country earned $60 million from export of the king of fruits. According APFVEIMA spokesperson Waheed Ahmed, dispatch of mango export shipments will start from May 25. Like the past ... Read More »

Huge revenue loss due to non-audit of DTRE by MCC Exports

KARACHI: Federal Board of Revenue is facing huge loss due to non-audit of Duty Taxes Remission on Exports (DTRE) by Model Customs Collectorate Exports. Sources in FBR informed Customs Today that the huge revenue loss to the national exchequer worth millions of rupees is being observed due to improper audit of DTRE since 2011. They further revealed that during these ... Read More »

Chambers seek clearance of ST refunds, Customs rebate claims of SMEs

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Abdullah Zaki has informed that Federal Finance Minister Ishaq Dar, after carefully listening to various suggestions pertaining to forthcoming budget during a meeting at FBR House in Islamabad, assured that all these suggestions will be further discussed with Chairman FBR so that they could be considered in the forthcoming ... Read More »

Rs450m vehicle amnesty scam: Entire customs staff may face inquiry

KARACHI: The 3-member fact-finding committee comprising MCC Exports Collector Dr Wasif Memon, Directorate of Intelligence and Investigation-Customs Karachi Additional Director Khalil Yousufani and Additional Director Audit in its report has recommended a complete audit of bank accounts all customs officials including officers deployed in Vehicle Group (Group-VII) during the period of Vehicle Amnesty Scheme. According to sources in FBR, the ... Read More »

Customs should utilize modern technology for valuation of goods: FPCCI

KARACHI: The unfair valuation of the goods at import stage is causing loss to the exchequer. The Customs authorities apply old methodology for valuation of goods which cannot control the under-invoicing. The modern economies have connected their valuation department with scanned magazines and journals for this purpose to ease the valuation process. This was stated by Zakaria Usman, President Federation ... Read More »

25-30pc shortfall: Unfair valuation guidelines inflict huge revenue loss

KARACHI: Customs Collectorates in Karachi have recorded a steep shortfall of 25-30 percent in revenue collection in the month of April mainly due to imposition of unfair valuation guidelines at ports of the city. These guidelines were issued and implemented unilaterally by the collectorates without taking the stakeholders into confidence. Importers were completely left out of the process of issuing ... Read More »

Rs71.3m duty evasion: Contravention Report made against M/s Fazal Sardar textile mill

KARACHI: Model Customs Collectorate of Exports has made the Contravention Report (CR) against M/s Fazal Sardar Textile Mills in the pretext of importing goods in excess of face value of license. M/s Fazal Sardar Textile Mills, located near Sharafi Goth, Korangi Industrial Area was granted a License (PWL-14/2010) on 25-11-2010 under rule 3(2) of SRO 327(I)/2008 dated 29-03-2008 for the ... Read More »

Customs swings into action against vehicle import on fake MoC documents

KARACHI: MCC Appraisement-West has withheld two out of seven vehicles imported on fake permission letter of Ministry of Commerce while Collector of MCC Appraisement-West Muhammad Saleem has pledged firm commitment and determination to unveil the real culprits behind the illegal importation of vehicles on fake documents. Collector Saleem informed Customs Today that two vehicles among seven have been confiscated by ... Read More »

I-pad, computer tablets provided to KICT staff for efficient output

KARACHI: Model Customs Collectorate of Appraisement-West has provided I-pad and computer tablets to the examination staff of Karachi International Container Terminal (KICT) for speedy examination of the consignments. When contacted, Collector MCC-Appraisement-West Muhammad Saleem said that the collectorate has provided I-pad and computer tablets to the examination staff at KICT for the quick disposal of examination reports, adding that clear ... Read More »

Auction of 21 new Mitsubishi vans, PVC scrap lights today

KARACHI: Model Customs Collectorate of Appraisement-East is going to hold auction of vehicles and PVC scrap lights at Motor-shed, East Wharf on Tuesday (today). 21 new Mitsubishi vans of Model, 2013 would be in place for auction. 25 per cent of the total bid amount is to be deposited at the time of auction. Furthermore, the auctions of PVC scrap ... Read More »

Esbani takes charge as Director PCA

KARACHI: Perwez Esbani, a Grade-20 officer of Pakistan Customs, has assumed the charge as Director, Post Clearance Audit (PCA), in Customs House, Karachi. It may be mentioned here that the charge was previously possessed by Dr Zulfiqar Malik who was transferred and posted as Collector, Customs Appeals. Read More »