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Seafood export to Middle East declines

KARACHI: Pakistan’s export of seafood to Middle East, particularly to Kuwait and United Arab Emirates has reduced by 40 per cent because of low catch and growing fishing cost. Sources said that fishermen have demanded the government to give subsidy on oil fuel to offset the growing expenses. Fall in fresh fish export has hit the country’s fisheries exporters since ... Read More »

Dar fine-tunes trading of govt securities on bourse

ISLAMABAD: Finance Minister Ishaq Dar appreciated the close cooperation among key national financial regulatory institutions which, he said, enabled and facilitated the rapid placement of necessary infrastructure for secondary market trading of government securities which include Treasury Bills (T-Bills), Pakistan Investment Bond (PIB) and Government of Pakistan Sukuk. He was presiding over a meeting attended by representatives of Capital Market ... Read More »

Customs Day seminar: Appreciation certificates awarded to customs officers

KARACHI: The Pakistan Customs on Monday organized a seminar with the theme of “Communication, Sharing Information for better coordination at the Directorate General of Training and Research (DGTR) Building in connection with International Customs Day. Chief Collector Enforcement (South) Muhammad Yahya was the chief guest on the occasion, while Chief Collector-Appraisement (South) Nasir Masroor Ahmed, Collector MCC-Preventive Syed Muhammad Tariq ... Read More »

Sharing of information dominates a significant place in Customs: Virk

LAHORE: Sharing of information dominates a significant place in customs and Pakistan Customs has been endeavouring to respond rather to reach out to the trade and industry and all other stakeholders for addressing their issues and taking proper steps. This was stated by central region’s Chief Collector of Customs Lutfullah Virk on the occasion of flag hoisting ceremony on the ... Read More »

Pakistan Customs needs to improve communication: Manzoor Ahmad

ISLAMABAD: Former ambassador to World Customs Organisation (WCO), Dr Manzoor Ahmed said that the theme of World Customs Day is very relevant as globalization demands communication. He said that Pakistan Customs should adopt different ways to improve communication. Pakistan Customs celebrated the International Customs Day at Islamabad Dry Port. Officials of Federal Board of Revenue and Model Customs Collectorate Islamabad ... Read More »

70 acres of land retrieved from mafia: Michael

KARACHI: Federal Minister for Ports and Shipping Kamran Michael said that 70 acres of land has been retrived from the mafia. He also directed the Chairman Karachi Port Trust (KPT) to continue the operation against encroachments. The Federal Minister reached Karachi to monitor the anti-encroachment operation. In the first phase, 200 unlawful houses on Karachi Port land were demolished on ... Read More »

Int’l Customs Day: Liquor bottles, heroin, contraband goods destroyed

LAHORE: Pakistan Customs set on fire and crushed illegal goods worth millions of rupees here at Wagha border on International Customs Day. The contraband items were destroyed under the supervision of the Customs Chief Collector Lutfullah Virk, Collector (Preventive) Junaed Akram, Collector of appraisement Zeba Hai Azhar and Additional Collector Asif Mehmood Jaa. The chief collector Lutfullah Virk ignited the ... Read More »

No return, no ST: FBR moves against major units

ISLAMABAD: Awaking to what is described as a serious discrepancy, the Federal Board of Revenue (FBR) moved against units, comprising manufacturers and companies, which despite operation, failed to file monthly returns and pay sales tax during the current month. The board has prepared a list of all such major units and provided it to the field staff, comprising National Tax ... Read More »

Sales tax reduced on textile and leather products

ISLAMABAD: The rate of sales tax has been reduced to 5 per cent on taxable supplies of finished articles made of leather, artificial leather and textiles and textile made-ups. Local supplies of these goods to un-registered persons including government departments having Free Tax Numbers (FTNs) are also liable to one percent extra/further tax. Federal Board of Revenue has conveyed to ... Read More »

FY 2014 targets: Dar satisfied with progress

ISLAMABAD: Finance Minister Ishaq Dar expressed satisfaction over the current economic condition and progress towards achieving targets set for the current fiscal year, saying the government strategy had yielded satisfactory results. Chairing a meeting held to review state of economy, the minister expressed the hope that external inflows would improve considerably in coming months due to positive impact of GSP ... Read More »

Used cars’ importers damaging economy: PAMADA

ISLAMABAD: Pakistan Automobile Manufacturers Assemblers Dealers Association (PAMADA) President Iqbal Shah has blamed the used cars’ importers as one of the elements for damage of the national economy and local auto industry. He said that PAMADA has urged the government to take action against used cars’ importers for allegedly misusing different schemes not meant for the overseas Pakistanis but nothing ... Read More »

PCG confiscates 675 kg hashish

LASBELA: A patrolling team of Pakistan Coast guards (PCG) has confiscated a large quantity of hashish hidden in a truck in Lasbela district while snap checking of vehicles on a secret information. The truck was on its way to Karachi from Quetta while it stopped at Winder checkpost. PCG’s mobile team searched the vehicle and found 675 kilograms of hashish ... Read More »

Int’I Customs Day: 1000s-kg drugs, contraband goods set on fire

KARACHI: The objective of celebrating International Customs Day is to exhibit the preparedness and determination towards eliminating crime and generating revenue while paying tribute to those who laid down lives for securing borders of the motherland. Today all institutions of the federal government, provincial government and armed forces stand by Pakistan Customs in its firm determination against all odds in ... Read More »

Upgrade to border Customs stations inevitable: Bajwa

LAHORE: Federal Board of Revenue (FBR) Chairman Tariq Bajwa declared that Pakistan was in direct competition for transit trade and not having hegemony, and under the Prime Minister’s vision to transforming Pakistan into a trade and transit hub, it was inevitable to upgrade Customs stations on borders for speedy and efficient clearance of transit goods. The FBR chairman stated this ... Read More »

Pakistan’s chambers of commerce and industry suggest reforms in FBR

ISLAMABAD: Chambers of Commerce and Industry from all over the country have asked the government to introduce structural reforms in Federal Board of Revenue so that the tax administration can be business-friendly to revive the economy. This was demanded during a consultative workshop organised by Ministry of Planning, Development and Reforms on “economic revival and growth”. One of the representatives ... Read More »

ST recovery: FBR moves against 44 ship-breakers

KARACHI: By invoking the enforcement provisions of Sales Tax Act, 1990, the Federal Board of Revenue has moved against 44 ship-breakers for the recovery of outstanding dues of sales tax. The Directorate General of Intelligence and Investigation Inland Revenue has provided list of these companies to Large Taxpayer Unit (LTU) Karachi and Regional Tax Offices (RTOs) to ensure the recovery. ... Read More »

PIAF slams power outages

LAHORE: Pakistan Industrial and Traders Associations Front (PIAF) has called for an instant halting of unscheduled power outages in various industrial areas as the fast worsening power crisis is playing havoc with trade and industry. In a statement issued, PIAF Chairman Malik Tahir Javed said that unannounced and unscheduled power outages at Manga industrial area had left the industrialists with no ... Read More »

MCCs told no ban on gold jewellery export

ISLAMABAD: The Federal Board of Revenue categorically declared to Model Customs Collectorates (MCCs) that there was no restriction on export of gold jewellery and exporters should fulfil export obligations required under SRO 760(I)/2003. The board elaborated that the import and export of gold, gold jewellery and gemstones be regulated as par the instructions of the Commerce Ministry. It is to ... Read More »

German customs seizes banned whale meat

BERLIN: German customs officials have confiscated whale meat being sold as bite-sized snacks by a Norwegian stall at a trade fair celebrating trends in food, agriculture and gardening. The stall’s supervisor said that he was surprised to hear the sale of whale meat was “meant to be illegal here”. He claimed his team had been able to take the food ... Read More »

Smuggling attempt thwarted at Port Qasim

RAWALPINDI: An attempt to smuggle over 70 kilograms of heroin has been foiled by the Anti-Narcotics Force (ANF). The illicit shipment was meant to be sent to Malaysia through a commercial consignment. Officials of ANF staff seized the consignment booked for the Malaysian port Klang and arrested five persons for their alleged involvement in the drug smuggling, said a spokesperson ... Read More »

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