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NLC not handing-over locomotives to Railways

LAHORE: National Logistic Cell (NLC) and Pakistan Railways (PR) join hands for the revival of freight trains operations but failed in achieving the required results. Sources told Customs Today that National Logistic Cell and Pakistan Railways signed an agreement for supply of ten locomotives of NLC to Pakistan Railways on twelve years lease enabling Pakistan Railways to run more freight ... Read More »

Pakistan Mango festival attracts huge gathering in Ankara

ANKARA:  A large number of Turks had a firsthand experience of the taste, juiciness and aroma of the famous Pakistani mango varieties as they converged at Pakistan House to feast on a wide spread of mango delights made out of freshly-arrived mangoes from Pakistan. Guests also enjoyed selected Pakistani music and specks of Pakistani cuisine. Guests included key political figures, ... Read More »

Customs starts crackdown against illegal importers

KARACHI: Directorate General of Intelligence and Investigation inland Revenue unearthed a gang of illegal importers and starts stern action against them. Sources told Customs Today that Customs authorities were receiving complaints about these illegal importers. Now authorities constituted different teams and placed them on Karachi, Lahore and Islamabad airports for checking. Sources said that these special teams will also keep an ... Read More »

Foreign tourism up by 20%: 100m Chinese travel abroad in 2014

BEIJING: The foreign tourism up by 20 per cent in China in 2014 as over 100 million people travelled abroad in the corresponding year. The official Xinhua news agency said that about 107 million Chinese ventured overseas in 2014 for leisure, citing a report by the China Tourism Academy, an institute under the China National Tourism Administration. Xinhua quoted Dai ... Read More »

FBR seeks two-month transaction record from banks

ISLAMABAD: Federal Bureau of Revenue (FBR) has directed all banks to submit details of two-month transaction record till September 15. It sought transaction record of more than Rs 50,000 from all the banks that had been done in the past two months, a private news channel reported Saturday. Names, identity card numbers, quantity of transactions would also be provided by ... Read More »

LTBA holds seminar on filing of tax returns

LAHORE: Lahore Tax Bar Association (LTBA) has held a seminar on Income Tax Returns here at the Tax House Lahore. Lahore Tax Bar Association president Munsha Sukhera, general secretary Ch Qamaruzz Zaman, vice president Arif Ijaz Hussain, former president Munir Hussain and a large number of income tax practioners, chartered accountants and advocates participated in the seminar. Former president Munir ... Read More »

Slashing rates in int’l markets, loadshedding causing low exports: TDAP

ISLAMABAD: Standing Committee on Commerce held a meeting with the officials of Trade development Authority of Pakistan (TDAP) to discuss the ongoing activities and expenditures of TDAP. The meeting was held under the chairmanship of Member National Assembly Siraj Muhammad Khan. TDAP Chief Executive S.M. Muneer pointed out the causes of decreasing trade presently. He said that the prices of ... Read More »

China produces 260m fruit, 700m tons vegs last year

BEIJING: China produced more than 260 million tons of fruit and more than 700 million tons of vegetables in 2014. Despite these impressive figures and the fact that China is a significant fruit and vegetable producer, it has yet to realize its potential as a fruit and vegetable trading power. According to a report from the Ministry of Commerce of ... Read More »

China continue to impose duties on US chicken imports

BEIJING: China’s Ministry of Commerce (MOC) announced it will continue to impose anti-subsidy duties on US white-feathered broiler chickens while a new investigation is under way. China began to levy anti-subsidy duties on chicken imported from the United States in September 2010, claiming that the products were subsidized and unloaded onto the Chinese market at a price less than the ... Read More »

IMF projects Saudi to run fiscal deficit 20% of GDP in 2015

RIYADH: Saudi Arabia’s government is considering making significant cuts to its 2016 budget because of the continued drop in oil price. Two sources told Bloomberg that the country is seeking advice on reviewing its budget for next year, which could lead to delays or reduce some of the country’s infrastructure projects. The report suggests that the government could cut its ... Read More »

Azerbaijan customs terms allegations about Russian blogger baseless

BAKU: The State Customs Committee of Azerbaijan has commented on reports of a Russian blogger having been prevented from entering the country, the committee’s press service told APA. “On August 25, headlines surfaced on a number of websites and social network that “Famous Russian blogger kept out of Azerbaijan”.The State Customs Committee officially states that a BMW with license plate ... Read More »

Chinese Customs confiscates excessive cosmetics

BEIJING: Gaoqi Airport Customs House (affiliated to Xiamen Customs District) seized excessive cosmetics carried by an inward passenger. The number of the seizure reached 3784 pieces, including 2574 lipsticks, 693 eyeliners, 343 eyebrow pencils and 174 boxes of eye shadows, which has set a new seizure record for excessive cosmetics carried by one single-entry passenger in the history of Gaoqi ... Read More »

Dongxing Customs seizes 6,369 memory cards

BEIJING: While exercising control over the luggage of an incoming Chinese passenger at non-declaration channel, officers of Dongxing Customs House (affiliated to Nanning Customs District) seized 6369 memory cards that were suspected of infringing upon the trademark right of SD-3C Co., Ltd. registered with the General Administration of Customs. Read More »

Chinese Customs destroys 20 seized crocodile skins

BEIJING: In cooperation with Yantai Entry-Exit Inspection and Quarantine Bureau, Yantai Customs House (affiliated to Qingdao Customs District) conducted a collective destruction of seized endangered animal products – untanned raw crocodile skins that were illegally imported, totaling 20 sheets, weighing about 20 kilograms, and worth more than CNY600,000. When officers of Yantai Customs House conducted a routine inspection over the ... Read More »

PetroChina net profit shrinks 63% in H1

BEIJING: PetroChina Co, the country’s biggest oil and gas producer by volume, said yesterday that its net profit plunged 63 percent in the first half of the year as falling oil prices squeezed earnings. Net income dived to 25.4 billion yuan (US$4 billion) in the half year ended on June 30 from 68.1 billion yuan a year earlier, the state-owned ... Read More »

Customs Intelligence holds 1,200 cartons of smuggled juice

KARACHI: The Directorate of Customs Investigation and Intelligence, Karachi, has recovered 1,200 cartons of smuggled Iranian juice from a godown worth thousands of rupees. As per details, Director Customs Intelligence Asif Marghoob received information regarding the storage of smuggled items in the area of Maripur, Karachi and formed a team consisting of assistant director, superintendents, deputy superintendents and others to conduct ... Read More »

Hyderabad ASO confiscates cigarettes, vehicle worth Rs 3.1m

HYDERABAD: The Customs Anti-Smuggling Organization (ASO) Hyderabad has seized 30 cartons of cigarettes with Suzuki pickup approximately valued at Rs 3.1 million involving duty/taxes to the tune of Rs 2 million. As per details, the ASO teams, following the instruction of Collector Model Customs Collector Hyderabad, Dr Ahmed Mujtaba Memon, conducted various raids in the region to curb smuggling. An ... Read More »

Customs court grants physical remand of currency smuggling suspect

KARACHI: The Special Court of Customs Taxation and Anti-Smuggling on Friday remanded a suspect to the custody of customs investigation officer for interrogation in a currency smuggling case. According to the customs officials, on August 27 the customs staff thwarted an attempt of smuggling of 157, 500 Saudi riyals and 2450 Omani riyals from Karachi Airport to Dubai. On suspicion, ... Read More »

RTO-II recovers Rs 1.8m by attaching company’s bank accounts

LAHORE: The Federal Board of Revenue (FBR), Regional Tax Office-II (RTO-II), Lahore has recovered Rs 1.8 million by attaching the bank accounts of a company involved in short payment of taxes to the tune of Rs 15.8 million. As per details, RTO-II team comprising Deputy Commissioner Inland Revenue Naveed Akhtar, Inspector Aftab Basra and Mehmoodul Hassan took action against a ... Read More »

Customs Preventive impounds Toyota Land Cruiser worth Rs 3m

ISLAMABAD: The Model Customs Collectorate Preventive Islamabad has impounded Toyota Land Cruiser worth Rs 3.2 million during a road checking. According to the details, Customs Preventive staff intercepted a vehicle bearing Registration No. RPT-586 during road checking. The staff asked the driver of the vehicle to produce the documents showing the legal import of the vehicle and lawful possession of ... Read More »