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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

Food exports increased 10pc in July, August

LAHORE: Food exports from the country during first two months of current financial year swelled up by 10.17 per cent and recorded at $ 682.712 million as compared to the same period of last year. During the period from July-August 2013, different food commodities worth $ 682.712 million were exported which were recorded at $ 619.96 million in same period ... Read More »

Textile exports up 7.24pc in two months

LAHORE: The textile exports from the country increased by 7.24 per cent during the first two months of current fiscal year against the exports of same period of last year. On year-on-year basis, textile exports during August 2013 increased by 3.42 per cent as compared to the exports of August 2012. The overall textile exports during July-August (2012-13) were recorded ... Read More »

PIAF-Founders Alliance wins all 8 seats of Corporate Class

LAHORE: PIAF-Founders Alliance made clean sweep by winning all the 8 seats of LCCI Corporate Class for year 2013-14. Total 742 votes were polled out of 2275 while 16 votes were rejected due to technical reasons. PIAF-Founder Alliance got 488 panel votes while the Progressive Group got 99 panel votes. PIAF-Founders Alliance candidates Babar Mahmood Chaudhry got 586, Zafar Mahmood ... Read More »

FBR Chairman reviews performance: Lahore collected Rs1.49b till Sept 15

LAHORE: FBR Chairman Tariq Bajwa held a high level strategic planning meeting with key Customs officials to review performance of Lahore region regarding revenue collection and anti-smuggling. The chairman held meeting with 40 officials of Customs including Chief Collector Lutfullah Virk, Lahore Collector of Customs Junaid Akram, Collector of Customs Multan Touseef Ahmad Qureshi, Collector of Customs Faisalabad Muhammad Zahid ... Read More »

Huge quantity of non-duty paid cigarettes seized in Lahore

LAHORE: The FBR’s Directorate General (Intelligence and Investigation – Inland Revenue) has recovered a huge quantity of counterfeit and non-duty paid cigarettes from various godowns in Lahore. Acting on a tip-off, the FBR’s I&I department raided several godowns in Pan Mandi, New Anarkali and seized huge quantity of counterfeit/non duty paid Pine and other cigarettes brands. To conduct operation, the ... Read More »

Alliance eyes all Corporate Class seats

LAHORE: Businessmen from as many as ten industrial areas and leading Industrial groups and sector-specific Associations in and around Lahore are likely to poll their votes in favour of PIAF-Founders Alliance in the LCCI Corporate Class elections scheduled for September 24. In a joint statement issued by PIAF-Founders Alliance leaders including Mian Anjum Nisar, Mian Muhammad Ashraf, Mian Misbahur Rehman, ... Read More »

PM arrives in New York to address UN General Assembly

UNITED NATIONS: Prime Minister Muhammad Nawaz Sharif arrives in New York on Monday to lead Pakistan’s delegation to the 68th session of UN General Assembly which is set to discuss key international issues, including the deadly conflict in Syria. The situation in Afghanistan, Egypt, Mali and the Central African Republic will also be high on the Assembly’s 175-item agenda, UN ... Read More »

Large scale reshuffling of Customs officials likely

LAHORE: Lahore Customs officials who have been working for the last three years at the same position are likely to be transferred soon. A notification issued by Federal Board of Revenue (FBR) said that it has decided the officers (BS-16-19) who are working in the same position against a specific post for last three years should immediately be transferred from ... Read More »

LHC turns down Progressive Group’s petition

LAHORE: The Lahore High Court (LHC) has turned down a Progressive Group’s writ petition against placement of the names in candidates list and directed the complainant to contest the upcoming LCCI elections as per the list of candidates already published and put on the website by the Lahore Chamber of Commerce & Industry. As per details, the Progressive Group has ... Read More »

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 »