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China keen to import edibles from Pakistan: Envoy

  ISLAMABAD: Chinese Ambassador to Pakistan Yao Jing Wednesday said China was keen to import meat, potato, onion, mango and cherry from Pakistan. He called on Federal Minister for National Food Security and Research Makhdoom Khusro Bakhtiar and expressed his confidence on him as former Minister for Planning and Development, viz a viz his contribution towards the expansion of phase-II ... Read More »

ADC Preventive transfers 1 superintendent, 18 inspectors

  LAHORE: Collectorate of Customs (Enforcement and Compliance) Additional Collector Mohammad Saeed Wattoo issued orders for transfer and posting of following officers with immediate effect and until further orders:- Superintendent Riasat Ali Javaid from headquarters to recovery branch Inspector Muhammad Moazzam Khan from State Warehouse, TNB to ASO Inspector Waheed Iqbal Bhatti from Headquarters to I&P Inspector Abdul Rashid from ... Read More »

Customs ASO seizes 54 bottles of foreign origin liquor

ISLAMABAD: Collectorate of Customs Anti-Smuggling Organization (ASO) squad seized A 54 foreign origin Absolute Vodka and Sumernof Vodka bottles including offending vehicle. Talking with Customs Today Collector Seema Raza said after receiving credible information about smuggling of liquor, an anti-smuggling squad was constituted under the supervision of Superintendent Malik Abid Hussai. The anti-smuggling squad established a check post near Tramri ... Read More »

Customs Appraisement detects tax evasion of Rs48.880m against M/s Maqbool Textile Mills

MULTAN: Collectorate of Customs Appraisement Faisalabad has detected tax evasion of Rs48.880 million against M/s Maqbool Textile Mills Limited for misuse of imported raw cotton and machinery during audit. M/s Maqbool Textile Mills Limited was granted (Export Oriented Unit) EOU license under SRO.327 (I)/2008 on 29/3/2008 valid till 8/10/2017 for duty and tax free import of machinery, parts and raw ... Read More »

Jhang ASO seizes smuggled diesel worth Rs19.6m

FAISALABAD: Anti-Smuggling Organization (ASO) has seized smuggled 10000 liters of diesel worth Rs 19.6 million and also impounded vehicle during a crackdown. Sources told Customs Today that Deputy Collector Amjad Aman Leghari received credible information regarding smuggling of Iranian diesel . After receiving the tip off he immediately formed a team under the supervision of Superintendent Anjum Sheraz which also ... Read More »

Economy cannot run around with high mark-up rate: Punjab Governor Ch Sarwar

LAHORE: Punjab Governor Ch Muhammad Sarwar has said that economy cannot run around with high markup rate and expensive energy. The Governor expressed these view while addressing a grand reception hosted by the Pakistan Industrial and Traders Associations Front in honour of Mian Anjum Nisar for being elected as Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president the ... Read More »

Faisalabad I&I earns Rs14.35m through auction of vehicles & goods

FAISALABAD: Directorate of Customs Intelligence and Investigation auction committee conducted auction of non-duty paid vehicles and other smuggled goods after the permission of Federal Board of Revenue (FBR) and generated revenue of Rs 14.35 million through auction process. Deputy Director Irfan Shoukat told Customs Today that during different anti-smuggling operations the Customs I&I seized items from GT Road, Sarai Muhajir ... Read More »

SBP reserves jump $82m to $11.58b

KARACHI: The State Bank of Pakistan’s (SBP) net reserves increased by $82.3 million to $11.58 billion during the week ending January 10. According to the data released by the central bank, the country’s total foreign reserves stood at $18.12 billion. The break-up of the foreign reserves position is as under: Foreign reserves held by the State Bank of Pakistan: $11.58 ... Read More »

NAB Court extends remand of two builders in FHSK case

KARACHI: An accountability court extended the remand of two detained builders for 14 more days in connection with a probe into reports of fraud in the Fazaia Housing Scheme Karachi (FHSK). On 15 January 2020, the court was informed about how the land was acquired in the name of ‘shuhada (martyrs) and war heroes’, but hardly any units were allotted ... Read More »

NHA, NBP sign MoU to plant olive trees alongside highways of Pakistan

ISLAMABAD: A Memorandum of Understanding has been signed between National Highway Authority and National Bank of Pakistan for Olive Tree Plantation along the Highways in the country. Addressing the signing ceremony in Islamabad today, Minister of State for Climate Change Zartaj Gul said the government is taking concrete measures to address challenges arising out of Climate change in the country. ... Read More »

Gold price gains Rs200 per tola

ISLAMABAD: The per tola price of 24 karat gold appreciated by Rs200 on Wednesday and was traded at Rs89,400, as compared to Rs89,200 on last trading day, Karachi Sarafa Association reported. Likewise, the price of 10 gram gold witnessed increase of Rs171 and was traded at Rs76,646 against last closing of Rs76,817. The price of silver remained stable at Rs1070 ... Read More »

Stocks lose 214 points amid lack of triggers

KARACHI: Bearish trend prevailed at the Pakistan Stock Exchange (PSX) on Wednesday, as the indices depreciated continuously while volumes contracted further, pushing the KSE-100 below the 43,000-mark. Foreign investors, on the other hand, continued with their buying trend in the previous session. A net inflow of $1.2 million was recorded on Tuesday with major buying witnessed in banking ($0.75 million) ... Read More »

KPT shipping intelligence report Jan 15

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday. ALONG SIDE (Bulk Oil Pier) OP-II Shalamar D. Crude Oil PNSC 12/01/20 ALONG SIDE (East Wharves): 2 Oriental Marguerite L. Ethanol East Wind 15/01/20 11/12 Glovis Maria D. Coke Wilhelmsen 12/01/20 ALONG SIDE(P.I.C.T): 6/7 Botany Bay D. L. Cnt. ... Read More »

Zong introduces unlimited calls to China under CPEC initiatives

ISLAMABAD: Telecom company Zong 4G has introduced unlimited calls to China under its China-Pakistan Economic Corridor (CPEC) initiatives, a press release issued by the company said on Wednesday. The company said it has launched two call bundles in order to make international direct dialling to China more convenient. The bundles introduced by China Mobile Pakistan (CMPak, popularly known as Zong) ... Read More »

Pak Rupee gains 20 paisa against dollar in open market

KARACHI: The Pakistani rupee gained strength by 20 paisa against the U.S. dollar in the open market, and hit Rs154.90 in the early trading hours on Wednesday. On the other hand, the local currency remained stable in the interbank market against the greenback with trading at Rs154.83, according to updates available with the media. The imminent signing of the Phase ... Read More »

FBR seeks 150pc revenue allowance equal to basic pay of its employees

ISLAMABAD: Federal Board of Revenue officers have suggested to the government for granting a revenue allowance at rate of 150 percent of the basic pay to their employees on pattern of Punjab and KP governments. According to media, in proposed restructuring plan being devised by Dr Ishrat Hussain led Institutional Reform Committee as well as the multilateral donors the IMF ... Read More »

Govt economic measures reduced fiscal & trade deficits: MoF

ISLAMABAD: The Ministry of Finance has said that the government inherited an economy in a major balance of payment crisis which led to high inflation and low growth but immediate actions by the government helped stabilize the economy and reduce the unsustainable fiscal and trade deficits, leading to restoration of business confidence. In a statement issued on Wednesday, the Finance ... Read More »

Pakistan to meet FATF’s Working Group in Beijing on Jan 20

ISLAMABAD: Pakistan has accelerated ‘diplomatic efforts’ as part of preparation ahead of meeting with the global financial watchdog Financial Action Task Force’s (FATF) Working Group in Beijing on January 20-21. Pakistan will be judged by an FATF plenary next month on the basis of the Joint Group’s report for possible exit from the grey list or at least avoiding the ... Read More »

USC liabilities stand at Rs15.616b: NA told

ISLAMABAD: Parliamentary Secretary for Industries and Production Aliya Hamza Wednesday told the National Assembly that current liabilities of Utility Stores Corporation stood at Rs 15.616 billion due to non-payments by the previous government. Responding to a question of Member National Assembly (MNA) Ali Gohar Khan during the Question Hour at the floor of the house, she said due to cash ... Read More »

Multan Customs transfers inspectors, sepoys

MULTAN: Directorate of Customs Intelligence and Investigation has issued transfer orders for the five employees including inspectors, stenographer and sepoy in notification. According to details, Director Customs Intelligence and Investigation Muhammad Adnan Akram undertake reshuffling in the Directorate after evaluating performance of staff to get encouraging result in their assigned tasks. Directorate of Customs Intelligence and Investigation has transferred Inspector ... Read More »