Tuesday , January 28 2020
Breaking News
Home / Latest News (page 29)

Latest News

News updates
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

FBR promotes eight officials as superintendents (BS-16)

ISLAMABAD: The Federal Board of Revenue (FBR) promoted eight officials of Collectorate of Customs Preventive Karachi as superintendent preventive (BS-16) with immediate effect and until further orders. According to the details, the newly promoted officials include Salahuddin Khan, Abdul Jabbar Khan Niazi, Ahsanullah, Bashir Ahmad Bhutto, Niaz Ali Qureshi, Rashid Saeed, Nazir Ahmed Qureshi and M. Ibrahim Hingro. The promotion ... Read More »

Gold price surges to Rs86,400 per tola

KARACHI: The per tola price of 24 karat gold appreciated by Rs400 on Monday and was traded at Rs86,400, as compared to Rs86,000 on last trading day, Karachi Sarafa Association reported. Likewise, the price of 10 gram gold witness increase of Rs343 and was traded at Rs74,074 against last closing of Rs73,731. The price of silver remained stable and was ... Read More »

PSX takes nosedive, plunges record 824.70 points

KARACHI: Pakistan Stock Exchange saw a virtual bloodbath on Monday where the KSE-100 index went down by 824.70 points to close at 40,008.29 points as compared to 40,832 points on previous day. The Index traded in a range of 907.54 points or 2.22 percent of previous close, showing an intraday high of 40,839.42 and a low of 39,931.88. Of the ... Read More »

Meeting of FPCCI standing committee on “customs agents” tomorrow

KARACHI: The 13th meeting of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) standing committee on “customs agents” will be held tomorrow December 24, 2019. The main meeting will take place at 4th floor, Federation House, Karachi at 3.30 pm while FPCCI Capital House Islamabad and FPCCI regional office Lahore will also attend the meeting via video link. Convener ... Read More »

Govt to establish ‘Frontier Zone’ for hydrocarbon drilling along Afghan border

ISLAMABAD: The government is set to establish a ‘Frontier Zone’ for exploration of hydrocarbon energy sources in the regions along the border with Afghanistan. According to a report published by media on Monday, the zone is likely to be part of an amended Petroleum Policy 2012. The policy will be presented for the approval at the meeting of the Council ... Read More »

China to reduce taxes on goods imported from Pakistan

ISLAMABAD: China has announced to reduce taxes on goods imported from Pakistan alongside 22 other countries, from next year, from January next year, the finance ministry announced on Monday. According to media, goods from countries including Pakistan, New Zealand, Peru, Costa Rica, Switzerland, Iceland, Australia, South Korea, will also be subject to even lower levies under re-negotiated bilateral trade agreements. ... Read More »

Customs AIIA foils bid to smuggle heroin

LAHORE: Collectorate of Customs team deputed at Allama Iqbal International Airport foiled bid to smuggle heroin abroad. Sources told Customs Today that Collector Basit Maqsood Abbasi received information about smuggling of heroin. He directed customs staff to enhance checking of the passengers. The joint customs and ANF team was constituted which intercepted a passenger who was identified as Iqbal Khan ... Read More »

Pakistan, Japan sign agreement for employment of trained labourers

ISLAMABAD: Islamabad and Tokyo have signed an agreement for providing employment to trained Pakistani labourers in Japan. The agreement was signed in the presence of Special Assistant of Prime Minister on Overseas Pakistanis and Human Resource Development, Zulfiqar Bukhari, Adviser to Japanese premier, Japan Ambassador to Pakistan, Foreign Secretary Sohail Mahmood and other high-level officials. The newly-signed memorandum of cooperation ... Read More »

Mobile phone import increases over 63pc in 5 months

ISLAMABAD: The import of mobile phones into the country increased by 63.62 percent during the first five months of current financial year (2019-20) as compared to the corresponding period of last year. Pakistan imported mobile phones worth US $ 498.466 million during July-November (2019-20) as compared to the imports of US $ 304.651 million during July-November (2018-19), showing growth of ... Read More »

Assets case: SHC suspends decision to release Khursheed Shah on bail

SUKKUR: Sindh High Court (SHC) on Monday has suspended decision to release Khursheed Shah on bail in assets beyond income case till next hearing. According to details, a special bench comprising Justice Naimatullah Phulpoto and Justice Khadim Hussain Tunio conducted proceedings on the matter and postponed the bail of ex-opposition leader in National Assembly. The court said that the issue ... Read More »

LHC defers hearing on Maryam Nawaz’s ECL plea till Dec 26

LAHORE: Lahore High Court (LHC) on Monday has adjourned the hearing of Maryam Nawaz’s plea seeking removal of her name from Exit Control List (ECL) till December 26. During the proceedings, the court has directed to file another plea regarding the matter after Federal Cabinet’s decision that is due on Tuesday. The plaintiff has stated that no stance has come ... Read More »

FTO directs FBR to take action against officials involved in issuing ‘bogus refunds’

ISLAMABAD: The Federal Tax Ombudsman (FTO) directed the Federal Board of Revenue (FBR) to initiate disciplinary action against tax officials involved in sanctioning bogus sales tax refunds. According to the FTO report, the FBR’s Directorate General of Intelligence and Investigation (DG I&I) had identified different field formations issuing Rs64.041 million bogus sales tax refunds to various companies. A sum of ... Read More »

Ahsan Iqbal arrested by NAB in Narowal Sports City case

RAWALPINDI: Pakistan Muslim League-Nawaz leader Ahsan Iqbal was arrested on Monday by the National Accountability Bureau as he appeared before it in relation to a corruption case. According to a NAB spokesman, the authority has arrested Ahsan Iqbal in relation to the Narowal Sports City Complex case. The NAB’s Rawalpindi chapter had summoned Iqbal in relation to the case today. ... Read More »

ECC seeks proposals regarding sales tax exemption on cotton seed cake

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant equal to Rs 4.05 billion funds lapsed during the financial year 2018-19 under the Sustainable Development Goals Achievement Programme (SAP). The approval to the proposal submitted by the Cabinet Division was granted by the ECC at its meeting with Adviser to Prime Minister on Finance and ... Read More »

Pakistan earns $166m from travel services’ export in 4 months

ISLAMABAD: Pakistan earned $166.940 million by providing different travel services in various countries during the first four months of the current financial year 2019-20. This shows growth of 22.69 percent as compared to $136.070 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau of Statistics (PBS) reported. During the period under review, the personal ... Read More »

Hyderabad Customs seizes huge quantity of smuggled goods & vehicles: Collector Khalid Jamali

HYDERABAD: Collectorate of Customs Preventive Anti-Smuggling Organization (ASO) and Sukkur division seized smuggled NDP vehicles and goods during three weeks of December. Collector Khalid Hussain Jamali while talking with Customs Today said that he directed his staff to curb the smuggling attempts in the region and adopt comprehensive strategy in this regard. The ASO team under the supervision of customs authorities ... Read More »

M/s G’Five Mobile approaches SHC against enhancement of valuation

KARACHI: M/s G’Five Mobile Private Limited has approached the Sindh High Court (SHC) and filed a constitutional petition against enhancement of valuation of consignment comprising PCB for mobile goods at $ 1 per piece instead of $13 per kg. On 21 December 2019, counsel for the petitioner stated that petitioner is private limited company and engaged in the import of ... Read More »

Multan Preventive releases truck & chocolates after receiving penalty of Rs.1.460m

MULTAN: Collectorate of Customs Preventive released truck and seized chocolate /candies after the collection of Rs1.460 million duty taxes along with redemption fine. According to details, Customs Preventive Anti-Smuggling Organization Mianwali squad has recovered huge quantity of foreign origin chocolates and candies from jurisdiction. Chocolates were loaded on the truck bearing registration number TKU-44 and Anti-Smuggling Organization recovered almost 2492 ... Read More »

Digital economy can create 2 million jobs in next two years: RCCI

RAWALPINDI: Digital economy in Pakistan has huge potential for creating 2 million jobs and boosting the country’s Gross Domestic Product (GDP) up to the level of $ 40 billion in next couple of years. Transformation is required to promote the Information, Communications and Technology sectors to reposition Pakistan in the digital economy. The Rawalpindi Chamber of Commerce and Industry (RCCI) ... Read More »

Customs Court approves charge sheet against M/s Essa Steel and others

KARACHI: The Customs Court approved interim charge sheet against Essa Farooq of M/s Essa Steel, who was booked in a case of evasion of duty and taxes by mis-using and illegally claiming SRO655(1)/2006 dated June 22, 2006. On 21 December 2019, investigation officer submitted charge sheet and informed the court that in pursuance of the information the documents relating to ... Read More »