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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

Sarfraz Warriach’s DGTT detects replacement of transit goods by M/s E-Movers

KARACHI: Directorate General of Transit Trade (DGTT) Director General Sarfraz Wrriach detected replacement of high tariff goods with low value goods of consignment en-route to Afghanistan. According to sources, the Directorates of Quetta and Peshawar were advised by the Director General Sarfaraz Warraich to tighten vigilance at Customs Station Chaman and Torkham to countering the pilferage attempt. Collector MCC Preventive ... Read More »

M/s Iffat Enterprises, M/s Akhtar & Sons approach SHC against lodging of FIR

KARACHI: M/s Iffat Enterprises and M/s Akhtar & Sons has approached the Sindh High Court (SHC) against lodging first information report (FIR) and show cause notice issued by Customs Collectorate Appraisement East for charges of evasion of duty and taxes amounting to Rs4,350,579. On November 9, 2019, counsel for the petitioner filed constitutional petition and informs the court that petitioner ... Read More »

All available facilities will be provided to importers & exporters of Southern Punjab: Khawaja Jalaluddin Roomi

MULTAN: Chairman of Multan Dry Port Trust Khawaja Jalaluddin Roomi has said that all available facilities would be provided to the importers and exporters of Southern Punjab on concessional rates to attract them. Presiding over a meeting of trustees he said that Sadiqabad Export Terminal was being activated to facilitate the exporters/importers of Bahawalpur Division particularly Rahim Yar Khan district ... Read More »

SHC calls comments on petition filed by M/s Nusrat Corporation

KARACHI: The Sindh High Court (SHC) directed customs department and deputy attorney general to file their para wise comments on a constitutional petition filed by M/s Nusrat Corporation challenging valuation ruling no 1352/2019 and seeking provisional release of its consignment comprising chlorinated paraffin (kanachlor OPT). On November 8, 2019, a two-member bench, headed by Justice Aqeel Ahmed Abbasi heard the ... Read More »

Pharmaceutical goods’ export increases by 12pc to $55.481m

ISLAMABAD: The exports of pharmaceutical product during the first quarter of financial year (2019-20) grew by 12.35 percent as compared to the exports of corresponding period of last year. The pharmaceutical exports were recorded at $55.481 million during July-September (2019-20) as against the exports of $49.383 million during July-September (2018-19), showing an increase of 12.35 percent, according to the Pakistan ... Read More »

Bannu ASO impounds smuggled goods, vehicle

BANNU: Anti-Smuggling Organization have seized huge quantity of foreign origin ground nuts, apricot and Asfaen herbs along with Hino offending vehicle. A secret information was received by Additional Collector Muhammad Khayal that huge quantity of foreign origin smuggled dry fruit and herbs will be attempt to smuggle via Bannu, following said information Deputy Collector Mehmood Khattak with assistance of local ... Read More »

Weakening law, order doubled traders’ miseries: RCCI

RAWALPINDI: The business community has expressed its deep concerns over the deteriorating law and order situation in the city besides alarming surge in incidents of robberies and dacoities. Shop locks have been broken, traders have been looted at the show market and tyre market in Ganjamundi police station area; two people were killed in a coal center at the police ... Read More »

Khawaja Jalaluddin Roomi nominated as a member of the BoD of Punjab BoI

MULTAN: Renowned Industrialist and philanthropist of South Punjab Khawaja Jalaluddin Roomi has been nominated as a member of the board of directors of Punjab Board of Investment (PBOI) by the Punjab government acknowledging his services for business community and humanity. Khawaja Jalaluddin Roomi is one of the influential businessman and industrialist of South Punjab who have been elected several times ... Read More »

Japan to expand & strengthen trade ties with Pakistan

ISLAMABAD: Japan and Pakistan have a huge potential to expand their bilateral trade and economic ties, Ambassador of Japan to Pakistan Kuninori Matsuda said on Monday. Talking to media, the envoy said that both sides have the potential to double their bilateral trade volume given that the resources were properly utilised. He maintained that Japan and Pakistan have enjoyed historical, ... Read More »

Faisalabad ASO impounds truck loaded with non-duty paid almonds worth Rs51.7m

FAISALABAD: Collectorate of Customs Preventive Anti- Smuggling Organization (ASO) impounded a Hino truck loaded with non-duty paid almonds. Total estimated worth of the goods is Rs 51.7 million. The Customs official informed Customs Today that after pursuance of authentic information received from Additional Collector (Preventive) a team was constituted by the Superintendent Muhammad Anjum Sheraz and inspector Muhammad Nasir Saeed. ... Read More »

Airlift, Swvl not being banned in Sindh

KARACHI: Sindh government’s spokesperson Murtaza Wahab dismissed the reports circulating that the provincial government was planning to ban the ride hailing apps Airlift and SWVL. Wahab tweeted saying, “The news of banning SWVL & Airlift is incorrect. To the contrary, Sindh Government is in the process of introducing a law regulating these private enterprises after consulting all stakeholders.” Last night, ... Read More »

Punjab govt to launch Qeemat Punjab App to fight price hike

LAHORE: The Punjab government is setting up farmer markets at the tehsil level and starting vegetable-fruit home delivery system in five big cities to ensure availability of kitchen items at fixed prices in the province. The step will basically bypass middlemen and hoarders whom the government considers the main cause of inflation in the province. “The new system will link ... Read More »

Customs ASO generates Rs24m through auction of goods, vehicles

LAHORE: Collectorate of Customs Preventive, Anti-Smuggling Organization (ASO) has generated through auction of non-duty paid goods and vehicles on Friday. Sources told Customs Today different non-duty paid goods and vehicles which were impounded during different anti-smuggling operations were presented for auction. These goods includes generators, cloth and other miscellaneous item. Sources told that Rs10 million were generated through auction of ... Read More »

Peshawar Preventive seizes truck loaded with non-duty paid goods worth Rs38.18m

PESHAWAR: Collectorate of Customs Customs Preventive team deputed at Dera Ismail Khan impounded a Hino truck loaded with non duty paid goods worth Rs38.18 millions. Total estimated worth of the goods is Rs 32.18 million and grand total of the seizure is Rs38.18 million. The Customs official informed Customs Today  that after pursuance of authentic information received from Additional Collector ... Read More »

Weekly Review: Stabilizing macro-economic continue to fuel bullish trend

KARACHI: The upswing in the market may be met with some profit-taking next week. The continuation of the sit-in in the federal capital may create some apprehensions which we expect to create some short-lived jitters in the market, analysts said. “We expect the stabilizing macro-economy to continue fueling the bullish trend over the medium to long term,” analysts at Arif ... Read More »

Govt introduces lower power tariff for industrial sector

ISLAMABAD: The government has approved a package for electricity supply mainly to the industrial sector at a flat rate, which will be lower than the normal tariff, in an attempt to boost production, said Minister for Power Omar Ayub Khan. Speaking at a press conference, the minister said the decision would help the government reduce capacity payments worth billions of ... Read More »

China to establish 19 factories in Gwadar: Envoy Yao Jing

QUETTA: Chinese Ambassador to Pakistan Yao Jing said that his government was going to establish 19 factories in Gwadar to create job opportunities for the youth of Balochistan. “China seeks to contribute to the overall development of Balochistan’s mining, agriculture, fisheries and water sectors. The Chinese consulate is easing the visa procedure for the businessman community,” Yao Jing said while ... Read More »

Signs of improvement start to appear in PIA: CEO Arshad Malik

KARACHI: Pakistan International Airline (PIA) Chief Executive Officer (CEO) Air Marshal Arshad Malik in a video message said that the efforts for improvement had started yielding results in the PIA in just one year’s time despite of challenges ahead. He said that PIA’s revenue during past six months had increased by more than 40 percent; seat factor also improved and ... Read More »

FBR withdraws 3pc valuation addition tax on import of consumer items

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn three percent minimum value addition tax on import of consumer items on which sales tax is paid on retail basis. According to the details, FBR on Friday issued SRO 1321(I)/2019, dated 08.11.2019, and amended the Twelfth Schedule of Sales Tax Act, 1990 under which three percent minimum value addition sales tax has ... Read More »

FBR asks jewelers, real estate dealers to maintain register, report suspicious transactions

ISLAMABAD: Federal Board of Revenue (FBR) has proposed to make mandatory for jewelers and real estate agents to report suspicious transactions. In this regard the FBR issued draft rules through SRO 1320(I)/2019 to make amendments in Income Tax Rules, 2002. As per the draft rules, the designated persons as jewelers and real estate agents should maintain documents and records, where ... Read More »