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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

LHC quashes FIRs against 350 industrial units

LAHORE: A division bench of the Lahore High Court has quashed all the FIRs registered against more than 350 industrial units and also stayed criminal proceedings initiated by the Sales Tax Department. The bench held that the registration of cases and criminal proceedings against industrial units by the department were illegal and void as it had taken this action without ... Read More »

Customs Agents vow total support to PIAF-Founder Alliance in LCCI elections

LAHORE: Lahore Customs Agents Association (LCAA) has announced its unconditional support for the PIAF-Founders Alliance in Lahore Chamber of Commerce and Industry (LCCI) election 2013-14. “The Customs Agents have been extending its full supports to the PIAF-Founders Alliance for the last ten years and this time also the agents will do their best to make the alliance victorious in the ... Read More »

Rupee will get stable soon, claims SBP governor

LAHORE: Consistent depreciation in value of rupees against dollar is not because of the IMF but it is driven by market sentiment and rupees will get stable soon. State Bank of Pakistan (SBP) Governor Yaseen Anwar claimed this while delivering a speech on ‘Strengthening Institutional Ties for Increasing SME’s Access to Finance’ at the 7th Pakistan SME Conference 2013. He ... Read More »

FBR flayed over not removing flaws in WeBOC system quickly

MULTAN: The business community of south Punjab has criticised the Federal Board of Revenue (FBR) over paying no attention to resolve serious flaws in the Web-Based One Customs (WeBOC) system. Members and office-bearers of the Multan Chamber of Commerce & Industry (MCCI), All Pakistan Bedsheet & Upholstery Manufacturers Association, Multan Dry Port Association (MDPA) expressed their concern over implementation of ... Read More »

DG I&I appreciates performance of Lahore Customs officials

LAHORE: Director General of Intelligence and Investigation Muhammad Riaz Khan visited Lahore Dry Ports and regional headquarters of Directorate General of Intelligence and Investigation during his two-day tour to the city. Official sources said that the DG visited Lahore regional headquarters and was presented performance review. The sources said the DG instructed the staff including Director Najeeb ur Rehman Abbasi ... Read More »

Excise & Taxation Dept to use banking channels for collection

LAHORE: A proposal to collect token tax through banks is being considered by the Punjab government. Official of the Punjab Excise and Taxation Department has said that the government is mulling to collect tax through banking channels. The step will ensure transparency in collection and redressing public complaints of overcharging. He said the proposal was part of policy of the ... Read More »

Technology upgradation must for economic growth

LAHORE: Technology upgradation in engineering industries is a key to high economic growth, which could put Pakistan on path to progress and prosperity. This was the upshot of the speeches delivered at day-long national conference on Technology Upgradation in Engineering Industries arranged by the LCCI Committee on Technology Promotion in Manufacturing Skills. Provincial Minister for Industries Chaudhry Muhammad Shafiq, LCCI ... Read More »

REAP, LTIA back PIAF-Founders Alliance candidate in LCCI elections

LAHORE: PIAF-Founders Alliance is inching towards another historical landmark as Rice Exporters Association of Pakistan (REAP) and Lahore Township Industrial Association (LTIA) have also announced to support the Alliance candidate in the LCCI elections being held on September 23 and 24. The LTIA hosted a lunch in honour of PIAF-Founders Alliance Corporate Class candidates Ijaz A Mumtaz, Babar Mahmood, Naseeb ... Read More »

Govt policies flourishing economy: Mujtaba

LAHORE: Due to the best trade and industrial policies of the government, the country has been placed on the road to progress and prosperity; however, all segments of society should perform their social responsibility for the peaceful atmosphere and elimination of terrorism so that healthy economic activities could be flourished. Provincial Minister for Finance, Excise & Taxation, Mian Mujtaba Shujaur ... Read More »

Customs I&P registers FIR against H Karim Buksh

LAHORE: Lahore Customs Investigation and Prosecution (I&P) registered an FIR against the owner of H. Karim Buksh (Departmental Stores) on Tuesday for evading Customs duty on imported LCDs by mis-declaring the prices, sources said. The sources said that H. Karim Buksh got cleared LCDs through WeBOC by mis-declaring the actual prices, but the authorities after thorough inspection and confirming the ... Read More »

FBR extends date for filing of income tax returns

LAHORE: In exercise of the powers conferred under Section 214A of the Income Tax Ordinance 2001, FBR is pleased to extend the date of filing of income tax returns/statements for the tax year 2013 as under: 1-    The date of filing of returns of total income/statements of final taxation of companies whose tax year ends any time between the first ... Read More »

Assistant Collector Tauqeer Ahmad Dar promoted

LAHORE: Mr. Tauqeer Ahmad Dar, Assistant Collector (BS-17) presently working in Model Customs Collectorate of Preventive, Lahore is promoted to the post of Deputy Collector (BS-18) on regular basis with immediate effect. The officer, if drawing performance allowance, will continue to draw the same after his promotion. Read More »

FCCI asks govt to evolve sustained policies to grow economy

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Mian Zahid Aslam has urged the government to make sustained economic policies in consultation with all stakeholders for the revival of industrial sector. He, while talking to a delegation of local industrialists, said that the government should also prepare investment and business-friendly policies to attract the foreign investors. He said that ... Read More »

European Parliament likely to grant GSP Plus status to Pakistan soon

LAHORE: European Parliament is most likely to grant GSP Plus status to Pakistan in its forthcoming meeting scheduled for December 2013. This was stated by Danish Ambassador to Pakistan Jesper Moller Sorensen while talking to LCCI President Farooq Iftikhar at Lahore Chamber of Commerce and Industry. LCCI former Vice President Saeeda Nazar was also present on the occasion. Pakistani exports ... Read More »

CAC backs PIAF-Founders Alliance in LCCI elections

LAHORE: The majority of Corporate and Associate Class (CAC) members of the Lahore Chamber of Commerce and Industry (LCCI) have announced their support for PIAF-Founders Alliance for the upcoming LCCI elections scheduled for September 23 and 24. Pakistan Steel Re-Rolling Mills Association (PSRMA) leaders Mian Muhammad Ashraf, Hafiz Muhammad Akbar arranged a luncheon reception in honour of the CAC leaders ... Read More »

Businessmen Group clean-sweeps APPMA annual elections

LAHORE: Businessmen Group has made a clean sweep in the Annual General Elections of All Pakistan Paper Merchants Association. According to the results announced by the Election Commissioner, candidates of Businessmen Group Mian Amjad Hussain, Imran Khalid Chaudhryl Muhammad Reza, Sharafat Hussain, Muhammad Shan and Muhammad Naeem got success on all six seats. Leader of Businessmen Group Khamis Saeed Butt, ... Read More »

Businessmen asked to deposit 1pc sales tax

LAHORE: Federal Board of Revenue (FBR) is urging business community to collect one per cent sales tax imposed by the parliament as businessmen are facing problems in recovering additional tax levied on suppliers or services from June 13. It is being claimed by some suppliers that there is no provision in FBR’s e-filling system to accept the additional tax. An ... Read More »

Remittances up by 7pc

LAHORE: Overseas Pakistanis remitted $2637.27 million in first two months (July & August) of the current fiscal year. It shows a growth of 7.05 percent as compared to $2463.69 million received during the same period of last fiscal year, said a statement by State Bank of Pakistan. The inflow of remittances in July-August from Saudi Arabia, UAE, USA, UK, GCC ... Read More »

‘SROs affecting Sialkot export industry’

SIALKOT: Chairmen of trade unions representing all five zero-rated export-oriented sectors and Sialkot Tax Bar Association have discussed the negative effects of SROs 505(I)/2013 and 98(I)/2013 on export industry with Sialkot Chamber of Commerce and Industry (SCCI) President Sheikh Abdul Majid in a meeting. The SCCI President told the chairmen that he had pointed out the problems regarding the said ... Read More »

APTMA to hold road shows in European states, US

LAHORE: All Pakistan Textile Mills Association (APTMA) Chairman Gohar Ejaz has said that the association will hold international road shows in the European states and the United State. He said this while talking to the delegation of Lahore Economic Journalists Association (LEJA). APTMA Vice Chairman Wisal Monnoo, APTMA Punjab newly-elected Chairman SM Tanveer, newly-elected Senior Vice Chairman Ali Ahsan and ... Read More »