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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

Exports expand by 4.64pc in 7 months of FY 2013-14

LAHORE: Pakistan’s exports have expanded by 4.64 per cent while imports witnessed an increase of 0.48 per cent during the period from July to January in the current fiscal year as compared to the same period of last fiscal year, official data revealed. The exports from the country during the period were recorded at $ 14.699 billion against the exports ... Read More »

FBR for dealing strictly with non-compliant taxpayers

ISLAMABAD: During a survey launched in the city 2,059 non-compliant taxpayers have been removed from the Active Taxpayers List by Federal Board of Revenue. Furthermore, tax authorities have been directed to deal with them strictly. FBR has implemented an enforcement plan in Lahore to improve tax collection from manufacturers of automobiles, motorcycles, electronic goods, auto-parts and departmental stores’ chains. Sources ... Read More »

Over 10pc increase in remittances during current FY

LAHORE: Overseas Pakistani workers remitted an amount of $ 9,033.41 million in the first seven months (July-January) of the current fiscal year, showing a growth in remittances of 10.08 per cent against $ 8,206.34 million received during the same period of last fiscal year. The inflow of remittances during the period from July to January of FY 2013-14 from Saudi ... Read More »

Dastgir to inaugurate ‘India Show’

LAHORE: Indian High Commissioner T.C. Raghavan has extended an invitation to Pakistan’s Commerce Minister Khurram Dastgir to inaugurate the ‘India Show’ which is due to be held from February 14-16, 2014 at Expo Centre Lahore. Dastgir has accepted the invitation. He said that such trade promotion activities should be organised on regular basis as it would help integrate the two ... Read More »

Customs seizes contrabands worth over Rs22.5bn in five years

LAHORE: Pakistan Customs has seized smuggled goods and articles of worth Rs 5,328.83 million during 2012-13, which is Rs 424.08 million more against Rs. 4,904.75 million in 2011-12, official data disclosed. Similarly, the customs department confiscated contrabands worth Rs 5,501.89 million during 2010-11; Rs 4,928.95 million in 2009-10; and during 2008-09, the authorities seized contrabands worth Rs 1,858.9 million. Top ... Read More »

Incompetent revenue officials to be taken to task

LAHORE: Punjab Revenue Department has directed the officers concerned to take action against irresponsible, incompetent and unskilled employees of the department. In this connection, Chief Inspector Stamp Qaiser Hayyat has been suspended for not accomplishing duty targets and on power abuse during the action. Addressing a department meeting, Senior Member of Board of Revenue Punjab Nadeem Ashraf said the promotions of officers/employees have ... Read More »

Industry being supplied more energy to boost exports: PM

LAHORE: Prime Minister Muhammad Nawaz Sharif has said that Industry is being supplied more electricity and gas as compared to previous years in order to boost up export volume and generate employment. He said this while addressing the 37th Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Export Awards distribution ceremony here. “We will not only jack up the ... Read More »

2nd ‘Lifestyle Pakistan’ exhibition in India by April

LAHORE: Trade Development Authority of Pakistan (TDAP) would organize 2nd edition of “Lifestyle Pakistan” exhibition at Pragati Maidan, New Delhi in April, 2014. The Authority said that building on the success of Lifestyle exhibition in April 2012 and after seeking a very encouraging response from our top quality brands, TDAP is organizing 2nd edition of “Lifestyle Pakistan” exhibition at Pragati ... Read More »

Bid to smuggle 0.6kg heroin foiled

LAHORE: The Anti-Narcotics Force (ANF) foiled an attempt to smuggle heroin to Kingdom of Saudi Arabia (KSA) and detained a woman. The ANF spokesperson said that baggage of a suspected woman leaving for Jeddah through private airline flight was searched at Allama Iqbal International Airport Lahore. During search 600 gram heroin packed in shampoo bottles was recovered. The ANF seized ... Read More »

Forex reserves stand at $8.017bn

LAHORE: Total liquid foreign exchange reserves of the country stand at $ 8.017 billion, State Bank of Pakistan’s weekly report revealed. According to SBP’s weekly statement, the foreign exchange reserves held by State Bank on January 31, 2014 amounted $ 3,182 million. The net foreign exchange reserves held by banks other than SBP were $ 4,835 million. Read More »

Release of refund claims to textile exporters on the cards

FAISALABAD: Regional Tax Office (RTO) has accelerated efforts for disbursement of pending refund claims of textile exporters, said Shaukat Mahmood Chief Commissioner Inland Revenue Faisalabad during a meeting at Pakistan Textile Exporters Association (PTEA). Speaking on the occasion, The Chief Commissioner said that textile exporters were playing important role in strengthening the economy while textile sector was the mainstay of ... Read More »

PR planning dry port at Havelian

LAHORE: Pakistan Railways Minister Khwaja Saad Rafique has said that the ministry is planning to set up a new dry port at Havelian for containers with the consent of Chinese government. “A dry port is being planned at Havelian for holding containers with the cooperation of the Chinese government and about 2 million tonnes of goods per year could be ... Read More »

KPT playing vital role in strengthening economy

LAHORE: Chairman Karachi Port Trust (KPT), Rear Admiral (Retired), Azhar Hayat has said that the KPT is playing a vital role in strengthening country’s economy. He said that efficiency of KPT has been improved due to privatization of two terminals. Law enforcement agencies were cooperating in the recovery of illegally occupied lands of the port. There were some difficulties in dealing with the land grabbers ... Read More »

Sharma to inaugurate India Show on Feb 14

LAHORE: Indian Minister for Commerce Anand Sharma is expected to visit Pakistan next week to inaugurate ‘India Show’ and meet his counterpart Khurram Dastagir Khan to discuss ways to enhance trade and investment between the two countries. “The Minister is likely to inaugurate the ‘India Show’ in Lahore and will hold bilateral meeting with Pakistani Commerce Minister Khan in Islamabad. ... Read More »

Yazdani, Khokhar assume charge as MCC Lahore collectors

LAHORE: Newly transferred collectors of customs appraisment and preventive have assumed charge of their posts at the Model Customs Collectorate (MCC) Lahore, sources said. Fazal Yazdani and Zahid Khokhar were transferred and posted as collector preventive and collector appraisement respectively replacing Junaid Akram and Zeba Hai Azhar. Both the collectors were transferred to MCC Lahore unexpectedly following FBR chairman Tariq Bajwa’s ... Read More »

Freight train remains most neglected sector in past: Saad Rafique

LAHORE: Pakistan Railways Minister Khawaja Saad Rafique has said that freight trains have been the most neglected sector in the past. Present administration is now operating four to five freight trains daily while just one train was operational when the present government had taken over the charge. The Minister said that the punctuality rate of trains had been raised up ... Read More »

MCC grants on-spot inspection during India show

LAHORE: Customs authorities in Lahore have been allowed on spot inspection of the goods to be imported for India Show by Model Customs Collectorate of Preventive. Expo Center Lahore will host the show from February 14 to 16 under the auspices of Ministry of Commerce and Trade Development Authority of Pakistan. In this regard, a notification has been issued by ... Read More »

Economy now on right path: Dar

LAHORE: The economy was now moving in the right direction as a result of structural reforms and measures taken by the present government. This was stated by Finance Minister Ishaq Dar at a meeting with Hiroshi Inomata, Ambassador of Japan to Pakistan. During the meeting, they discussed bilateral economic co-operation between Japan and Pakistan, an official statement read. Finance Minister ... Read More »

Ashraf Wathra appointed acting Governor SBP

LAHORE: Finance Minister Senator Ishaq Dar has appointed Ashraf Mahmood Wathra as Acting Governor of State Bank of Pakistan till further orders. He was previously Deputy Governor of SBP. Former governor SBP Yaseen Anwar has been directed to hand over the charge to Ashraf Mahmood Wathra, upon close of business hours on January 31, says a statement issued by Ministry ... Read More »

Businessmen urged to export value added products

LAHORE: Khawaja Khawar Rashid who has recently been appointed FBR’s Valuation Committee member has urged Pakistani businessmen to multiply efforts to export value added products. He was talking to members of Lahore Economic Journalists Association (LEJA) at Gymkhana. Rashid is Executive Committee Member of Lahore Chamber of Commerce and Industry. Rashid also said that export of raw materials is enhancing ... Read More »