Saturday , March 6 2021
Breaking News
Home / Latest News (page 3040)

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

KSE end lower; rupee strengthens

KARACHI: Pakistan’s main stock exchange closed lower on Wednesday, with the benchmark 100 share index of the Karachi Stock Exchange felling 0.58 percent, or 143.09 points, to 24,445.38. Some profit taking was seen at the bourse as a result of which the benchmark index closed at the level of 24,445, down 143 points. Despite slightly negative news flow, positivity was ... Read More »

Customs seizes 4500 metre cloth, 50 bags of plastic dana

LAHORE: Lahore anti-smuggling unit impounded 4500 metres suiting cloth and 50 bags of plastic dana on Band Road and in Shera Kot, sources told Customs Today. Sources said that the Customs officials seized the non-customs duty paid plastic and cloth worth Rs 1.3 million on two different tip-offs. They said that the Customs anti-smuggling officials while confiscating the goods registered ... Read More »

US halts shipments from Afghanistan through Pakistan

WASHINGTON:  The US military suspended shipments of equipment out of Afghanistan through Pakistan, citing protests that posed a risk to truck drivers, officials said. The move came after club-wielding activists in northwest Pakistan forcibly searched trucks for NATO supplies in protest over US drone strikes in the tribal belt. “We have voluntarily halted US shipments of retrograde cargo through the ... Read More »

Govt all set to reduce expenses of foreign missions by Rs3.5b

ISLAMABAD: The government is all set to reduce expenditures on foreign missions abroad by Rs 3 to Rs 3.5 billion per annum. The decision to this effect was taken during the meeting of the Committee to Review the Performance of Pakistani Missions abroad here on Wednesday which met under the chairmanship of Senator Mohammad Ishaq Dar. The Committee deliberated on ... Read More »

Sialkot: Strike of clearing agents hampering exports

SIALKOT: All Pakistan Dry Ports Association (APDPA) Chairman Mohammad Ishaq Butt has expressed deep concern over the situation that emerged due to strike by the clearing agents and freight forwarders at Sialkot Dry Port. Earlier, clearing agents and freight forwarders went on strike after the arrests of clearing agents and related staff. Despite unpleasant circumstances, the business community especially exporters ... Read More »

FBR to establish kiosks at airports to stop smuggling of foreign currency

KARACHI: Federal Board of Revenue (FBR) is planning to establish kiosks at all the major airports of the country to verify the source of income of the travelers and to avert smuggling of foreign currency. Sources said that Customs department had previously proposed to SBP to cut foreign currency cap from $10,000 to $3,000 along with imposition of ban on ... Read More »

MCCI for stimulating business community

MULTAN: Multan Chamber of Commerce & Industry President Khawaja Muhammad Usman has said that Chambers and traders associations of South Punjab will be stimulated to bring the business community at one platform for the development, prosperity and growth of this area. The alliance will raise voice to resolve the economic, trade, cultural and social problems and ending the backwardness and ... Read More »

Dar vows to bring down dollar rate to Rs98

ISLAMABAD: Federal Minister for Finance Ishaq Dar has said that the increasing price of dollar against rupee will be brought back to 98 rupees. He said that the industrial expansion and investment is the need of hour. He said the income support levy has now become part of the budget and this is not a tax as it will be ... Read More »

Customs graft costing Lebanese Treasury $400m a year

BEIRUT: Widespread corruption at the Customs Department is costing the Treasury more than $400 million in lost revenues each year and has further tarnished Lebanon’s image among investors and Western countries, experts, economists and merchants have revealed. “The corruption at Customs is quite serious and this problem has grown over the past two years due to the absence of the ... Read More »

375kg heroin seized from container at QICT

KARACHI: The Anti Narcotics Force (ANF) has seized a container carrying record 375kg fine quality heroin at Qasim International Container Terminal, which was concealed inside the filters. The container, which was booked for Uganda, was loaded with 448 large size cartons (each carton containing 12 oil filters) and 1,113 small size cartons (each carton containing 40 filters). The five accused ... Read More »

MCC Appraisement (West) recovers Rs32.299m in a month

KARACHI: The Model Customs Collectorate (MCC) Appraisement (West) has recovered revenue of Rs32.299 million in November. The Post Release Verification (PRV) Department of MCC-Appraisement (West), during audit of the month of November, has detected 35 cases of revenue loss owing to non-implementation on Valuation Rulings in ‘Green Channel’ and recovered Rs32.299 million. MCC-Appraisement (West) Collector Muhammad Saleem, while talking to ... Read More »

Directorate of Reforms & Automation to discuss WeBOC modules on 10th

KARACHI: An important meeting of the Directorate of Reforms and Automation would be held on December 10 (Tuesday) in Customs House, Karachi. Sources told Customs Today that the Directorate of Reforms & Automation would finalize the induction of modules from One Customs to WeBOC system. They further informed that the Directorate of Reforms & Automation, Pakistan Customs would also arrange ... Read More »

Rs19b customs duty collected in November

LAHORE: Pakistan Customs has collected revenue of Rs19 billion during the month of November 2013, according to Federal Board of Revenue. According to official data, total customs duty collected during the month is recorded at Rs19 billion, 21 percent higher as compared with the same month of the previous financial year. Details showed that FBR collected Rs169 billion during the ... Read More »

Saad Rafique urged to refurbish Pak-India section at Railway Station

LAHORE: The Lahore Chamber of Commerce and Industry on Tuesday invited the attention of Federal Minister for Railways towards Pak-India section at Lahore Railway Station as its dilapidated condition is hitting hard the trade between the two countries. In a statement, LCCI President Engineer Sohail Lashari said that at a time when Federal Minister for Railways Khawaja Saad Rafique was ... Read More »

Valuation Rulings of home inverters without battery, betel nuts issued

KARACHI: The Directorate General of Customs Valuation has issued two more Valuation Rulings No. 613/2013 and 614/2013 of home inverters without battery and betel nuts under section 25-A of the Customs Act, 1969. The Customs value (C&F) of the home inverters without battery less than 1KV of Chinese origin having PCT heading 8504.4090 and proposed PCT for WeBOC is 8504.4090.1000 ... Read More »

FBR forms teams to audit concessionary imports under different pacts

KARACHI: The Directorate of Internal Audit (Customs) of FBR has formed four teams to audit concessionary imports cleared by the Karachi Customs collectorates during 2012-13 under various trade agreements to determine revenue losses to the national exchequer. Assistant Director Muhammad Rizwan, Assistant Director Abdul Majeed, Deputy Director Omar Shafique and Deputy Director Baleeghur Rehman to conduct the audit of Model ... Read More »

FPCCI backs PM’s package

LAHORE: FPCCI President Zubair Ahmed Malik has said that the incentives and amnesties announced by the Prime Minister will have a very positive impact on the economy which has been struggling since long. He said that the business activities have been inactive for quite a while which has resulted in inflation and unemployment but now the situation will take a ... Read More »

Gold import rises during July-October

KARACHI: Pakistan’s gold import has increased by 136.45 percent during July-October 2013 as compared to the same period of previous fiscal year, according to the data showed by the Pakistan bureau of statistics (PBS). PBS data revealed that gold import stood at $138.150 million during July-October 2013 as compared to $58.424 million during the corresponding period last year. In terms ... Read More »

Dastgir given portfolio of Commerce Minister

ISLAMABAD: Prime Minister Nawaz Sharif has changed the portfolio of Minister of State Khurram Dastagir Khan by taking away the portfolio of Privatisation from him. According to a notification, Dastagir has been appointed Minister of State for Commerce and Textiles. The portfolio of Privatisation is now vacant. In addition to his current portfolio, Dastagir also heads the National Assembly’s Standing ... Read More »

FBR urged to address SRO issue

KARACHI: The Pakistan Automotive Manufacturers Association (PAMA) has urged Federal Board of Revenue (FBR) to resolve the issue of SRO released in the light of Economic Coordination Committee’s (ECC) decision, which if not amended, will have severe consequences for consumers and industry as well. The DG-PAMA, in a letter to the FBR chairman, said motorcycle industry cannot afford any cost ... Read More »