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Multan Customs generates Rs3.5m through re-auction of perishable goods

MULTAN: Collectorate of Customs (Enforcement & Compliance) generated Rs3.5 million from re-auction of perishable goods lying at the State Ware House. The Collectorate of Customs (Enforcement & Compliance) has carried special auction for the disposal of perishable goods to generate revenue. Multan Customs carried out special auction after ensuring special precautionary measures to prevent public from corona spread-out and participants ... Read More »

PIA continues its flight operation as per routine

KARACHI: The Pakistan International Airlines (PIA) is continuing its flight operation as per routine schedule. As per details, flight no AR-500 left for Islamabad from Karachi airport, while PK-8308 also departed for the federal capital from Karachi. A special flight for Milan with 390 passengers on board departed from Islamabad. Two flights for Gilgit and one for Skardu also took-off ... Read More »

Weekly inflation up 0.66pc

ISLAMABAD: The Sensitive Price Indicator (SPI)-based weekly inflation for the week ended on May 21 witnessed an increase of 0.66 per cent, the Pakistan Bureau of Statistics (PBS) reported. The SPI for the week under review for the combined consumption group was recorded at 128.15 points, as against 127.31 points registered in the previous week. The weekly SPI with base ... Read More »

Govt released Rs287.289m for petroleum projects in 11 months

ISLAMABAD: The government has released funds amounting to Rs287.289 million during the first 11 months of the current fiscal year to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs304.997 million. According to the official data as May 16 that showed a slight readjustment in funds’ allocation and releases, an amount ... Read More »

PIA flight with 99 on board crashes in Karachi

KARACHI: A Pakistan International Airlines (PIA) plane with 99 passengers and crew crashed into a residential area of Karachi minutes before landing, with many feared dead. “The areoplane [flight PK 8303] first hit a mobile tower and crashed over houses,” witness Shakeel Ahmed said near the site, just a few kilometres short of the airport. The jet, which tracking website ... Read More »

Action against wheat hoarders to continue: Aleem Khan

LAHORE: Senior Minister Punjab for Food, Abdul Aleem Khan vowed to continue crackdown on wheat hoarders across the province. The provincial food authorities conducted raids in Gujranwala, Layyah, Khanewal, Mandi Bahauddin, Chakwal, Bahawalnagar, Dera Ghazi, Kot Addu, Vehari and other areas of the province and overall 90,000 sacks of wheat were recovered. Aleem Khan said action against the hoarders to ... Read More »

CPEC is flagship project of Belt and Road Initiative: Aisha Farooqui

ISLAMABAD: Pakistan has said that China-Pakistan Economic Corridor (CPEC) is a transformational project contributing positively and transparently to the country’s national development. In a statement on Friday, Foreign Office Spokesperson Aisha Farooqui clarified that our total public debt relating to CPEC projects is less than even 10% of the total debt. Moreover, the public debt obtained from China has a ... Read More »

COVID-19: Oil prices boost expectations by recording modest recovery

NEW YORK: The worst of the oil crisis of 2020 may be over as crude prices registered a slight recovery after a month of the horrifying collapse that sent the prices of the commodity into negative due to the COVID-19 outbreak. West Texas Intermediate crude hit a historic low of minus $40.32 per barrel on April 20 as sellers were ... Read More »

World Bank approves $500m to help Pakistan’s COVID-19 emergency response

WASHINGTON: The World Bank’s Board of Executive Directors approved a $500 million program to help Pakistan improve access to quality healthcare and education, support economic opportunities for women, and strengthen social safety nets as the country braces to limit the impact of the COVID-19 pandemic. The Securing Human Investments to Foster Transformation (SHIFT) program will support policy reforms to help ... Read More »

FBR extends date for POS integration up to June 30

ISLAMABAD: Federal Board of Revenue (FBR) extended the date for integration of Point of Sale (POS) by high volume retailers up to June 30, 2020. The last date for integrating the POS for Tier-1 retailers was April 30, 2020. The FBR said that only those retailers can integrate their POS by June 30 who submit their intention to RTOs/LTUs by ... Read More »

Gwadar Customs to hold auction of impounded vehicles on June 3

GWADAR: Collectorate of Customs announced auction of confiscated vehicles to be held on June 03 and June 10, 2020 at the Custom House Gwadar. A notification issued by the Collectorate stated that vehicles old and used of different make and model and launch without engine would be presented at first auction to be held on June 03, 2020 and in ... Read More »

ICCI proposals to be considered in upcoming budget: FBR chief

ISLAMABAD: Federal Board of Revenue Chairperson Nausheen Javed Amjad said on Thursday that budget proposals sent by the Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration as they would be helpful in finalising the federal budget 2020-21. She said this while talking to Muhammad Ahmed Waheed, President Islamabad Chamber of Commerce and Industry, who called on her ... Read More »

Tax collection from debt investments surges 101pc in July-April

ISLAMABAD: The Federal Board of Revenue (FBR) collected taxes worth Rs4.07 billion from investment in government securities in the first 10 months of the current fiscal year of 2019/20, more than double over the corresponding period a year earlier. Sources attributed the significant jump in revenue collection compared to Rs2.02 billion in the July-April period of 2018/19 due to the ... Read More »

No question on source of investment for construction section: FBR

ISLAMABAD: Federal Board of Revenue (FBR) highlighted tax relief package and said that source of investment for construction sector will not be investigated. The government recently tax relief package for construction sector in order to restore economic activities. The package was also aimed to benefit 40 additional construction-linked industries. Besides, it was also aimed to generate more employment. Highlighting the ... Read More »

Finance division clarifies news regarding use of Covid-19 fund for interest payment

ISLAMABAD: The Ministry of Finance has described as factually inaccurate a news report published in a section of the press saying that the ‘PTI govt to use Covid-19 fund for interest payment’. In an official statement released on Thursday, the Ministry of Finance has clarified that the Prime Minister COVID Relief Fund is to be utilized solely for providing cash ... Read More »

ADC Habib Ahmad clarifies exportability of masks, suits, gowns, coveralls

KARACHI: Collectorate of Customs Exports Additional Collector Headquarters Habib Ahmad issued office order clarifying exportability of masks, suits, gowns, coveralls etc. The office order no. 25/2020 read as “in light of SRO 239/(I)/2020 dated 24.4.2020 read with letter no. 5(20)EP/2013-NCOVID-19 dated 6.5.2020, Ministry of Health clarification issued vide DO No. 1/1/2020-Secy dated 2.5.2020 and in light of recommendation of the ... Read More »

Coronavirus: UK inflation dives on oil-price crash

LONDON: British inflation hit a near four-year low in April as oil prices crashed, official data showed Wednesday, with the rate set to slide further as the coronavirus slashes prices generally. The Consumer Prices Index (CPI) annual rate slumped to 0.8% last month from 1.5% in March, the Office for National Statistics said in a statement. Analysts’ consensus forecast had ... Read More »

Budget proposals sent by ICCI to be given due consideration: FBR

ISLAMABAD: Chairperson Federal Board of Revenue Nausheen Javed Amjad Thursday said that budget proposals sent by Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration as they would be helpful in finalizing the Federal Budget 2020-21. She said this while talking to Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry who called on her in ... Read More »

ECC okays MDM Policy to promote local manufacturing & assembly of phone handsets

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved Mobile Device Manufacturing Policy to promote local manufacturing and assembly of mobile phone handsets. The policy approved in a meeting of the ECC chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh is aimed at ensuring localisation and indigenization of the parts of ... Read More »

Multan Customs seizes smuggled goods worth Rs81m during anti-smuggling drive

MULTAN: Collectorate of Customs Enforcement & Compliance (E&C) thwarted smuggling attempt by seizing goods worth Rs81 near Rahim Yar Khan during anti-smuggling operation. Sources told Customs Today after change in command and posting of Collector Muneeza Majeed Customs Collectorate Enforcement & Compliance has accelerated the anti-smuggling drive in South Punjab. Collector Muneeza Majeed stepped up the anti-smuggling in the South ... Read More »