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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

PM Imran Khan forms body to facilitate construction sector, housing projects

ISLAMABAD: Prime Minister Imran Khan on Monday formed a 13-member national coordination committee to facilitate the construction sector and low-cost housing projects. The convener of the committee would be Chairman Naya Pakistan Housing and Development Authority while officials from housing, planning division, energy, petroleum, and law departments of the federal government would also be a part of it. Deputy Governor ... Read More »

PTCL approaches SHC against demand & recovery notice

KARACHI: Pakistan Telecommunication Corporation Limited (PTCL) has approached the Sindh High Court (SHC) against demand & recovery notice and seeking stay order for adverse action against recovery notice. On 6 July 2020, counsel for the petitioner stated in his petition that petitioner is a public limited company which is engaged in providing telecommunication services across Pakistan. He submitted that the ... Read More »

NAB decides to take steps to arrest fugitives and notorious accused

ISLAMABAD: A meeting of National Accountability Bureau (NAB) was held at NAB headquarters under the chairmanship of Justice Javed Iqbal Chairman NAB. Deputy chairman, Prosecutor General Accountability, Director General Operations and other senior officers of NAB were present, while all Director Generals attended the meeting via video link. The meeting reviewed the overall performance of NAB. Speaking on the occasion, ... Read More »

CPEC: Pakistan, China ink agreement of $1.5b Azad Pattan Hydel Power Project

ISLAMABAD: Pakistan and China signed an agreement for the construction of $1.5 billion Azad Pattan Hydel Power Project, Chairman CPEC Authority Asim Saleem Bajwa said on Monday. Prime Minister Imran Khan witnessed the signing ceremony. Addressing the ceremony, the prime minister said the China-Pakistan Economic Corridor (CPEC) project will prove to be a milestone in the country’s development and prosperity. ... Read More »

114 Indian nationals to be repatriated via Wagah border on July 9

LAHORE: 114 Indian nationals stuck in Pakistan owing to the coronavirus pandemic will return to their homeland via the Wagah bordering crossing on July 9. The Ministry of Interior has written a letter to the director general of the Punjab Rangers apprising him of the Indian citizens’ homeward journey through the Wagah border on foot. It instructed that the government-prescribed ... Read More »

Second raid: Customs Preventive impounds smuggled goods worth Rs30m from Yusuf Plaza

KARACHI: Collectorate of Customs Preventive Anti-smuggling Organization conducted a raid on Yusuf Plaza in Bolton Market and recovered huge quantity of smuggled goods worth Rs30 million. A raid had been conducted on Yusuf Plaze few days ago and smuggled goods had been recovered. Sources told that on the directives of Chief Collector Enforcement Saifuddin Junejo, Collector Preventive Saquif Saeed has ... Read More »

COVID-19 pandemic: Pakistan gets Rs335b debt relief from G20

ISLAMABAD: Pakistan will sign its debt relief agreement with G20 countries separately before the deadline of December 31, 2020, in order to avail debt relief of slightly over $2 billion (Rs335 billion). A top official of the Finance Division told media that the work was in progress for availing debt relief announced by G20 countries. “So far we have reconciled ... Read More »

How much more expensive were food commodities in 2019-20?

ISLAMABAD: After the government rolled out the budget for the upcoming financial year last month, an official government report has now unveiled a staggering rise in prices of basic commodities in 2019-20 compared to prices recorded in 2018-19. According to the report, the inflation for the fiscal year ended on June 30, 2020 was recorded at 10.74%, whereas, the average ... Read More »

IR officials can now recover overdue non-tax revenue

ISLAMABAD: The government has empowered revenue officials to recover overdue non-tax revenue during the current 2020/21 fiscal year. An amendment has been made to the Public Finance Management Act, 2019 in the Finance Act 2020 and approved by the National Assembly to assign addition task of non-tax revenue collection by the officials of Inland Revenue department of the Federal Board ... Read More »

IsDB approves $60m supplementary aid for Pakistan’s polio eradication efforts

ISLAMABAD: The Islamic Development Bank (IsDB) has approved a $60 million supplementary fund for Pakistan to support the country’s polio eradication programme. This includes a $39 million IsDB Murabaha and a $21 million grant from the IsDB-managed Lives and Livelihoods Fund (LLF). The sum has been approved by the IsDB Board of Executive Directors at the virtual meeting held in ... Read More »

Eight employees of Multan Customs test positive for COVID -19 after random screening

MULTAN: District Health Department confirmed as many as 8 employees including deputy collector Customs Collectorate Enforcement & Compliance (E&C) positive after random screening of COVID-19. Sources told Customs Today those employees who have tested positive were all asymptomatic and are quarantining at home for two weeks until they receive a negative COVID-19 test to return to work. The Customs Collectorate ... Read More »

Federal govt assigns additional charge of chairman FBR to Member IR Policy Javed Ghani

ISLAMABAD: In a major development, the Federal government on Saturday transferred Ms Nausheen Javed from the post of Federal Board of Revenue (FBR) chairperson and posted as Secretary National Heritage and Culture Division. The federal government has also decided to assign additional charge of chairman Federal Board of Revenue to Member Inland Revenue (IR) Policy Muhammad Javed Ghani. A notification ... Read More »

FBR extends date for retail outlet integration up to August 31

ISLAMABAD: Federal Board of Revenue (FBR) extended date for retailers to integrate their Point of Sale (POS) up to August 31, 2020. The last date for integrating the POS for Tier-1 retailers was June 30, 2020. The FBR said that only those retailers can integrate their POS by August 31 who submit their intention to RTOs/LTUs by August 20, 2020. ... Read More »

Weekly SPI inflation up 2.29pc

ISLAMABAD: The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on July 2, for the combined consumption group, witnessed an increase of 2.29 percent. According to the latest data of Pakistan Bureau of Statistics (PBS), the SPI for the week under review in the above-mentioned group was recorded at 132.32 points against 129.36 points registered in the ... Read More »

CPEC assures bright future of Pakistan says PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan said that the China Pakistan Economic Corridor (CPEC) project is the sign of strong friendship between the neighbouring countries and it assures the bright future of Pakistan. PM Imran Khan chaired a high-level session to review the progress of projects designed under China Pakistan Economic Corridor which was attended by federal ministers and CPEC officials. ... Read More »

M/s Agar Textiles moves SHC against demanding detention & demurrage charges despite corona virus

KARACHI: M/s Agar Textiles Private Limited has approached the Sindh High Court (SHC) against demanding huge amount of demurrage, detention and container charges etc despite corona Virus and lockdown situation by shipping line and terminal operators namely Cosco Shipping Line Pakistan and South Asia Pakistan Terminal (SAPT) Karachi. On 3 July 2020, counsel for the petitioner submitted that a consignment ... Read More »

Multan Adjudication finalizes 63 seizure cases worth Rs257.124m during June

MULTAN: Collectorate of Customs Adjudication Multan Camp Office has finalized 63 cases of worth Rs257.124 million during the month of June. According to details, Deputy Collector Adjudication Abdul Mueed Kanjoo concluded hearing of 19 seizure cases involving Rs24.348 million after their trial during the month of June. These decided seizure cases involved cloth, vehicles, auto parts, liquor and other different ... Read More »

Finance Act 2020: customs to allow provisional release in anti-dumping duty case

ISLAMABAD: The customs authorities shall allow provisional release of goods on bank guarantee where levy of anti-dumping duty challenged in court of law. Through Finance Act, 2020 applicable from July 01, 2020 amendment has been made in Anti-Dumping Duties Act, 2015. As per the amendment: “ … where a competent court of law has stayed preliminary or final determination of ... Read More »

Customs I&I seizes smuggled HSD worth Rs5.079m near Toll Plaza Mochko

KARACHI: Directorate of Customs Intelligence and Investigation (I&I) seized 50,000 liters of smuggled High Speed Diesel (HSD) worth Rs5.079 million near Toll Plaza Mochko. Sources told that after assuming the charge as Director Customs I&I Yaqoob Makoo directed all staff members to adopt zero tolerance policy against smuggling and anyone who found involved in smuggling should be dealt with iron ... Read More »

ECC asks OGRA to review RLNG revenue shortfall as worked out by SNGPL

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has approved Rs 29.72 billion to provide cash assistance of Rs12,000 per beneficiary to 3.725 million applicants irrespective of provincial, regional and district quota under the Ehsas Emergency Cash Programme. The ECC chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdu Hafeez Shaikh allowed the BISP to spend ... Read More »