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Asad Umar directs speedy implementation of KCR

KARACHI: Minister for Planning, Development and Special Initiatives Asad Umar has directed the Planning Division and the Economic Affairs Division (EAD) to immediately initiate work for finalising the implementation mechanism of the Karachi Circular Railway (KCR) project with the Chinese side. Chairing a meeting to discuss the KCR project, the minister reiterated that the federal government was fully committed to ... Read More »

Collector Appraisement transfers appraisers, inspectors

LAHORE: Collectorate of Customs Appraisement and Facilitation Mughalpura Dryport, Deputy Collector Mohammad Nauman Tashfeen issued orders for transfer and posting of 4 appraisers and 32 inspectors with immediate effect and until further orders:- Details are as under:- 1. Appraiser Faryal Amber from Appraisement Hall to DTRE 2. Appraiser Razia Yaqoob from Appraisement Hall to PRV Cell 3. Appraiser Qasim Khan ... Read More »

Father of special secretary finance Omar Hameed Khan passes away

ISLAMABAD: Ministry of Finance spokesman and special secretary Omer Hameed Khan’s father Wing Commander ® Chaudhary Abdul Hameed died today (Friday) after prolonged illness. He was 98. Late Chaudhary Abdul Hameed during his service as Wing Commander of Pakistan Air Force rendered valuable service for our motherland. He was counted as one of the most professional officer of PAF. He ... Read More »

Importer approaches SHC seeking release of consignment

KARACHI: Importer Faizullah son of Haji Habibullah approached the Sindh High Court (SHC) seeking release order of imported goods comprising 11772 & 13110 pairs of gents/ ladies/ girls’ slippers/ sandal seized by customs officials. On 8 Jan 2020, counsel for the petitioner stated that petitioner is the law abiding citizen of Pakistan and he attends the notable respect in the ... Read More »

Economy moves progressively in 1Q: SBP

ISLAMABAD: State Bank of Pakistan Monday said during first quarter of current fiscal year FY20, Pakistan s economy moved progressively along the adjustment path. In its first quarterly report, “the said macroeconomic stabilization process picked up momentum with the initiation of the International Monetary Funds extended fund facility program: the SBP continued to keep the monetary policy consistent with the ... Read More »

Cargo supplies halt as goods transporters go on strike

KARACHI: Cargo supplies across the country came to a halt from yesterday (Monday) when goods transporters suspended their operations in protest over a hefty increase in fines, forcing the federal government to send in its top guns for holding talks to resolve the crisis. According to media, Sindh Governor Imran Ismail, Punjab Governor Chaudhry Sarwar and Prime Minister Imran Khan’s ... Read More »

FBR notify establishment of customs dryport at Azakhel

ISLAMABAD: Federal Board of Revenue (FBR) issued S.R.O. (I)/2019 for establishment of customs dryport at Azakhel, Pir Piai, district Nowshera Khyber Pakhtunkhwa. The SRO read “in exercise of the powers conferred by clause (a) of section 9 and clause (a) of section 10 of the customs act, 1969 (IV of 1969), the Federal Board of Revenue, is pleased to notify ... Read More »

Collector Appraisement transfers DCs, ACs & principal appraisers

LAHORE: Collectorate of Customs Appraisement & Facilitation Mughalpura Dry Port Collector Amjadur Rehman has issued order for transfer and posting of deputy collectors, assistant collectors and principal appraisers with immediate effect and until further orders:- Details are as under:- 1. Deputy Collector Muhammad Nauman Tashfeen is transferred from headquarters, correspondence with chief officer and Board, PMDU Cell, G-IV (WeBOC & ... Read More »

KCCA asks members to clear taxes through PO & DD before 6pm today

KARACHI: Karachi Customs Agents Association (KCCA) asked its members to clear outstanding duty and taxes before 31-12-2019 up to 6:00 pm for payment through Pay Order & Demand Draft and till 9:00 pm for payment through cash. In a statement KCCA said that members are hereby informed that in compliance of instructions given by SBP and to reconcile/settle the transactions ... Read More »

ECC approves Rs60m for owners of containers used for Azadi March

ISLAMABAD: The Economic Coordination Committee (ECC) has on Monday approved Rs 100 million to bear expenses caused by Azadi March. Finance Adviser Dr Abdul Hafeez Shaikh chaired the ECC session in which it has been decided that Rs 60 million will be paid to container owners. The ECC stated that a permanent solution must be found to deal with sit-ins ... Read More »

Customs Court approves charge sheet of HSD oil smuggling case

KARACHI: The Customs Court approved charge sheet against suspect namely Muhammad Nadeem son of Muhammad Essa who was nominated in a case of attempting to smuggle 60,000 liters high speed diesel valuing of Rs7,680,000 approximately. On 18 December 2019, investigation officer submitted charge sheet against above mentioned suspect and informed the court that on actionable information, customs officials intercepted a ... Read More »

Multan Customs generates Rs.22.943m through auction of vehicles & goods

MULTAN: Collectorate of Customs Preventive generated Rs.22.9430 million through the public auction of confiscated goods and vehicles lying at the State ware House. According to details, Multan Customs Collectorate held auction for the disposal of confiscated vehicles and miscellaneous goods and it had done publicity about auction to attract bidders. The auction of confiscated vehicles and miscellaneous goods were carried ... Read More »

Khusro Bakhtiar calls on APM Hafeez Shaikh to discuss FPA

ISLAMABAD: Federal Minister for National Food Security & Research Khusro Bakhtiar called on Advisor to Prime Minister on Finance Dr. Abdul Hafeez Shaikh to discussed issues related to agriculture power tariff and their rationalization. During the meeting, they also discussed the tube well tariff and fuel price adjustment (FPA). Advisor to Prime Minister Dr. Abdul Hafeez Shaikh affirmed that a ... Read More »

under invoicing

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Customs I&I shows outstanding performance from July to Nov

KARACHI: Under the supervision of Director Irfan Javed, Directorate-General of Customs Intelligence and Investigation (I&I) showed significant performance from July to November, 2019. According to the details, the performance of the Directorate General Customs Intelligence and Investigation showed a considerable improvement in both its anti-smuggling and enforcement functions. A comparative statement reflecting the performance in both areas viz-a-viz performance during ... Read More »

Steps being taken to avoid wrong use of Afgan Transit Trade: FBR chairman

KARACHI: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that steps are being taken to improve economy in this regards measures have also been decided for the finance act. According to the details, addressing to the participants of the event held at the Institute of Chartered Accountant of Pakistan, the Chairman o said that zero rated facility has ... Read More »

Circular debt will be eliminated by next year: Hafeez Shaikh

ISLAMABAD: Advisor to the Prime Minister on Finance & Revenue Dr. Hafeez Shaikh met with leading anchorpersons of electronic media and briefed them about the economic performance of the government in the first quarter of the current Fiscal Year-2019-20. The Advisor to the Prime Minister on Finance & Revenue informed them about the precarious economic situation left by the previous ... Read More »

IFC supports Super Six wind projects to spur renewable energy

ISLAMABAD: IFC, a member of the World Bank Group, has led the financing of a first-of-its-kind program to build six wind power projects in Pakistan, named the Super Six, with a total investment of US$450 million, to help deliver cleaner, cheaper power to meet the country’s critical demand for energy and reduce reliance on expensive imported fossil fuels. Adviser to ... Read More »

FBR to speed up crackdown against banned outfits

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to intensify its efforts against over 2,600 individuals/assets of banned organisations. According to media, FBR would be ensuring effective implementation of Targeted Financial Sanctions (TFS) against the assets of 1,267 and 1,373 designated people and entities associated with banned organisations. To bridge the gaps identified by Asia Pacific Joint Group (APJG) ... Read More »

FBR transfers 123 BS-16 officials from Customs Preventive to Customs AIIA

ISLAMABAD: Federal Board of Revenue issued notification for transfer and posting of 123 officials of BS-16 from Collectorate of Customs Preventive Lahore to Customs Collectorate Allama Iqbal International Airport with immediate effect. The notification read “consequent upon creation of separate new Collectorate of Customs Allama Iqbal International Airport (AIIA), Lahore vide FBR’s SRO No. 753(I)2019 dated 5.7.2019, the sanctioned/ working ... Read More »