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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

Chief Minister Murad Ali Shah presents Rs1217b budget for FY 2019-20

KARACHI:  Sindh Chief Minister Syed Murad Ali Shah on Friday presented a Rs1217 billion zero deficit budget for the next financial year, 2019-20 in which a 15 percent salary and pension has been increased across the board. In the budget Peoples Promise Programme, a programme for poverty reduction as pledged by the Chairman PPP in his election campaign has also ... Read More »

Tropical Cyclone ‘Vayu’: KPT, PQA, GPA, PSAA advised to make suitable arrangements

KARACHI: Karachi Port Trust (KPT) has issued a circular of attention for all ships and crafts citing the current situation of the Tropical Cyclone named ‘Vayu’ which is heading close to the coast of neighboring country India. According to the details, the circular of attention for all Ships and Crafts issued by Karachi Port Trust (KPT) administration has maintained that ... Read More »

Foreign exchange reserves slip to $14.827b

KARACHI: The total foreign exchange reserves of the country have slipped by $63 million to $14.827 billion by week ended June 03, 2019 as compared with $14.89 billion as on May 31, 2019, State Bank of Pakistan (SBP) said on Thursday. The official foreign exchange reserves of the SBP reduced by $55 million to $7.807 billion by week ended June ... Read More »

SHC directs not to take any coercive action against M/s Telenor Pakistan

KARACHI: The Sindh High Court (SHC) passed an interim order and restrained customs officials from taking any coercive action including blockage of NTN of the petitioner till next date of hearing on a constitutional petition filed by M/s Telenor Pakistan Private Limited and M/s Ahbab Enterprises against blocking of its NTN/user ID by the Collector of Customs of Appraisement East ... Read More »

NAB issues arrest warrants for Faryal Talpur

KARACHI: The National Accountability Bureau (NAB) on Friday issued arrest warrants for Pakistan People’s Party (PPP) leader Faryal Talpur in the fake accounts case. Earlier on Monday, the Islamabad High Court (IHC) on Monday dismissed pre-arrest bail petitions of PPP co-chairman Asif Ali Zardari and Talpur. Zardari was then arrested NAB officials from his Islamabad residence. The anti-graft body can ... Read More »

Customs Court approves interim challan against officials of I&I

KARACHI: The Customs Court issued non bail able warrants against Principal Appraiser Syed Irshad Ali Shah, Superintendent ASO, Khayam Mirza, Intelligence Officer Majid Hashim Khan, Moiz Khan and Asif Irfan Satti, Sepoy Naseeb Ullah who were absconders and are involved in illegal removal/ replacement of seized betel nuts from state warehouse. On June 12, 2019, investigation officer submitted interim charge ... Read More »

SHC grants protective bail to suspect booked in wrist watches smuggling

KARACHI: The  Sindh High Court (SHC) granted protective bail to suspect namely Ather Mateen against the surety of Rs50,000 and directed him to surrender himself before the trail court within seven days, who was booked in a case of attempting to smuggle non-duty paid assorted brand counterfeit wrist watches etc. On June 13, 2019, a single bench, comprising Justice Abdul ... Read More »

M/s Bellco Trading Company moves SHC against determination of valuation of PCB for mobile

KARACHI: M/s Bellco Trading Company Private Limited approached the Sindh High Court (SHC) against determination of valuation of imported PCB for mobiles at US$ 13 per piece instead of $1 per piece and sought restraining order against taking any adverse order. On June 11, 2019, counsel for the petitioner stated that petitioner is seriously and highly prejudiced by the actions ... Read More »

KPT handles deepest drought vessel ‘APL CHONGQING’

KARACHI: Karachi Port Trust (KPT) handled a deepest drought vessel of 15.4 meters for the first time at deep drought berths of South Wharf (SAPT). According to the details, the handling of this Singaporean flag vessel ‘APL CHONGQING’ has taken place at South Asia Pakistan Terminal under the personal command and supervision of Deputy Conservator KPT Captain Asif Ahmed Tauni. ... Read More »

Customs Court convicts suspect in betel nuts smuggling case

KARACHI: The Customs Court convicted suspect namely Abdul Sattar son of Abdul Ghaffar who was booked in a case of attempting to smuggle 5000 kgs betel nuts. On June 11, 2019, the above mentioned suspect appeared before the court along with his counsel and moved petition and argued that applicant is ready to surrender before the court. After the hearing, ... Read More »

MQM founder Altaf Hussain arrested in London

LONDON: Muttahida Qaumi Movement (MQM) founder Altaf Hussain was arrested by Scotland Yard in an early morning raid on Tuesday. Credible security sources have revealed to media, that Altaf Hussain was arrested this morning and taken to a local police station. 15 officers took part in a dawn raid at his north London home. A forensic unit of Scotland Yard ... Read More »

Federal Budget 2019-20: Rs45.5b allocated for Karachi projects

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government unveiled its Federal Budget 2019-20 during the National Assembly session on Tuesday. The government allocated Rs45.5 billion for nine different development projects in Karachi. Minister of State for Revenue Hammad Azhar. Under the Public sector Development Program (PSDP), the government also allocated Rs500 million for the establishment of Combined Effluent Treatment Plant (CETP) for ... Read More »

Customs Court approves challan against M/s Lucky Star Steel Industries & M/s Steel Co

KARACHI: The Customs Court approved interim charge sheet against Umer Farooq, owner of M/s Lucky Star Steel Industries, Muhammad Ibrahim, owner of M/s Steel Co and others, who are booked for illegal removal of in-bonded plastic moulding (compound) & secondary galvanized steel coils and evaded duties and taxes. On June 03, 2019, investigation officer of Appraisement East submitted interim charge ... Read More »

SHC extends bail of Jam Khan Shoro till August 7

KARACHI: Sindh High Court (SHC) on Tuesday extended bail of former provincial minister Jam Khan Shoro, till August 7 in illegal allotment of land case. A two-member bench of SHC headed by Chief Justice Ahmed Ali M Sheikh was hearing the case pertaining to illegal allotment of land in Jamshoro district. The National Accountability Bureau (NAB) prosecutor also submitted a ... Read More »

Customs Court rejects pre-arrest bail of proprietor of M/s CGA Logistics

KARACHI: The Customs Court dismissed pre-arrest bail to suspect namely Faizan Fayyaz, proprietor of M/s CGA Logistics and sent him to jail who was booked in a case of evasion of duty and taxes in the tune of Rs2.2 million approximately. On June 10, 2019, the above mentioned suspect appeared before the court along with his counsel, who argued for ... Read More »

SHC seeks comments on petition filed by M/s Imtiaz Super Store

KARACHI: The Sindh High Court (SHC) issued notices to the customs department and deputy attorney general directing them to make sure filing their para wise comments on a petition filed by Imtiaz Hussain, proprietor of Imtiaz Provision Store (Imtiaz Super Store) seeking release order for consignments of Tang drinking powder imported from UAE due to disputed valuation. On June 03, ... Read More »

Customs Court approves challan of betel nuts, liquor smuggling case

KARACHI: The Customs Court approved interim charge sheet and granted after-arrest bail to suspects namely Nawab Shahrukh son of Abdul Sattar and Gulam Moduddin son of Abdul Salam, who were involved in a case of attempting to smuggle betel nuts, liquor, etc. On June 03, 2019, investigation officer submitted interim charge sheet against the above-mentioned suspects and informed the court ... Read More »

Pakistan forex figures $14.88909b

KARACHI: Total liquid foreign reserves of the country stand at $14.88909 billion, said the State Bank of Pakistan (SBP). SBP’s weekly statement issued here on Monday said that on May 31, the foreign reserves with the State Bank amounted to $ 7,862.4 million and the net foreign reserves held by commercial banks were $7,027.5 million. During the week ending May ... Read More »

Customs Court extends remand of suspect booked in betel nuts smuggling case

KARACHI: The Customs Court extended physical remand of suspects namely Ali Baksh son of Paendy Khan Baloch and Muhammad Hamid son of Haji Jumma Khan and sent them back to customs department, who were involved in a case of attempting to smuggle non-duty paid 8410 kilograms betel nuts etc. On June 03, 2019, court directed investigation officer to complete investigation ... Read More »

Shanghai Electric to acquire K-Electric from Abraaj Group

KARACHI: China’s state-owned Shanghai Electric Power (SEP) is expected to finally acquire K-Electric from the financial crisis-hit Dubai-based Abraaj Group in the middle of the second half of 2019. According to media, a deal, signed about 32 months ago in October 2016 at $1.77 billion, is likely to be implemented in few months after the government recently accepted a major ... Read More »