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Tag Archives: Bahria

Add 2,500MW in system by Feb 2015, PM orders ministries

ISLAMABAD: Prime Minister Nawaz Sharif, presiding over a joint ministerial meeting of the energy sector, has ordered the Ministries of Petroleum and Natural Resources, Water & Power and Finance Division to add 2,400 to 2,500MW more electricity in the system by February 2015. The prime minister directed the ministries to control line losses and electricity theft at any costs and ... Read More »

Political crisis amid inflation

The warning bells are ringing from all sides amid political crisis in Islamabad. The whole world is watching developments in Pakistan and friendly countries like China and the United States are looking the events with concern. The Indian prime minister, who is spitting venom against Pakistan since his Bharatiya Janata Party has come to power,is also worried about the situation ... Read More »

FBR exceeds revenue target for August by Rs 3 billion

ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the monthly revenue collection target of Rs 180 billion for August 2014 as it collected over Rs 183 billion during the month. Official data obtained by Customs Today showed that the FBR has provisionally collected over Rs 183 billion during August 2014 against assigned monthly revenue collection target of Rs 180 billion with ... Read More »

Telenor terms allegations of tax evasion by customs baseless

KARACHI: Telenor Pakistan Director Corporate Communications and Responsibility Atifa Asghar, in response to the allegations of tax evasion, said that Telenor Pakistan was a law-abiding and responsible corporate entity, and that it always met its legal and ethical obligations. “The allegation of tax evasion is misconceived and incorrect,” she told Customs Today. “It is a matter of different interpretations and ... Read More »

Customs foils bid to smuggle heroin to Nigeria, two booked

LAHORE: The Pakistan Customs has foiled an attempt to smuggle 250 gramme heroin to Nigeria. According to details, Customs Inspector Farrukh Amin found a parcel containing 250 gramme heroin worth Rs 75,000 at the export section of the General Post Office. Following the incident, the customs has lodged an FIR against two Nigerians, Ikenna Udegbuna and Jane Udegbuna, under Control ... Read More »

FBR asks law ministry to fill vacant posts in customs appellate

ISLAMABAD: The Federal Board of Revenue (FBR) has asked the federal law ministry to fill all the vacant posts in Lahore, Karachi and Peshawar in customs and Inland Revenue appellate tribunals. According to sources, 10 posts of the judicial and technical members are vacant in the Customs Appellate Tribunal and 18 posts of the judicial and accountant members are vacant ... Read More »

Customs central region not assigned revenue target

LAHORE: The Federal Board of Revenue (FBR) has not yet assigned target for the customs central region even nearly two month have passed since the start of the fiscal year 2014-15. Sources said that the FBR has issued revenue target in the first month of the fiscal year, however, it has not yet issued target for customs central region. Moreover, ... Read More »

Lahore Tax Bar Association sets up desk to facilitate taxpayers

LAHORE: The Lahore Tax Bar Association (LTBA) has established a special desk to facilitate the taxpayers who have been issued show-cause notice by the Lahore Broadening of Tax-base Department. Talking to Customs Today, LBTA President Aysha Qazi said that show-cause notices have been issued to the taxpayers on the directives of the Federal Board of Revenue (FBR) but no official ... Read More »

1 bench of Karachi Customs Appellate Tribunal not functional

KARACHI: One of the three benches of the Karachi Customs Appellate Tribunal have not been functional since 2012, it is learnt. The tribunal, which serves as a forum to settle revenue-related disputes of appraisement, was established in 1985 under Section 194 to ease burden on Sindh High Court. Three such tribunals were established, one each in Karachi, Lahore and Islamabad. ... Read More »

Customs serves recovery notices on 55 steal millers

SIALKOT: The Regional Tax Directorate in Gujranwala has issued tax recovery notices to 55 steal millers. The directorate has also collected Rs 500 million taxes in Gujranwala division despite the civil disobedience call given by the Pakistan Tehreek-e-Insaf Chairman Imran Khan. According to a senior official, the Federal Board of Revenue (FBR) has set another target of Rs 250 million ... Read More »

FIA to produce arms smuggler in court on Thursday

KARACHI: Sofia Latif, a customs, taxation and anti-smuggling judge, has remanded an accused to the FIA’s custody after arms and ammunition were seized from his personal baggage at the Jinnah International Airport. Mumtazuddin, the accused, will be produced before the judge on Thursday. Sources informed Customs Today that customs has recovered 25 parts of pistol and 97 magazines from the ... Read More »

Rs 771.8m tax evasion: Customs issues contravention report against Q-Mobile

KARACHI: The Collectorate of Customs Adjudication-I has issued a contravention report against New Allied Electronics (Private) Limited and Digicom (Private) Limited (proprietors of the Q-Mobile cellular phones brand). The Model Customs Collectorate (MCC) Multan has issued the report on alleged tax evasion of Rs 771.8 million under the head of sales tax, additional sales tax and income tax. The total ... Read More »

Appraisement-West implements Queue Management System

KARACHI: A Queue Management System (QMS) has been introduced at the Model Customs Collectorate of Appraisement-West to facilitate the authorised clearing agents and importers. According to details, automated token machines have been installed outside the offices of the assistant and deputy collectors to facilitate the clearing agents during the hearing of their cases. Moreover, proper seating and lighting arrangements for ... Read More »

Potential taxpayers served show-cause notices in Lahore

LAHORE: The Lahore Broadening of Tax Base (LBTB) has issued 1,500 show-cause notices to the potential taxpayers and enterprises Under Section 122C of the Income Tax Ordinance 2001. The notices have also been served on such individual and enterprises which were declared as potential taxpayers on the bases of the assessment of their properties or they had conducted taxable transactions. ... Read More »

Up country dry ports vital for interregional trade: Ishaq

SIALKOT: All Pakistan Dry Ports Association Chairman Muhammad Ishaq Butt said that the role of up country dry ports will become vital in the future with the growth of inter-regional trade, especially due to improving trade relations among Saarc countries and predictable peace in the region. Talking to Customs Today here, he said that all issues related to the up ... Read More »

Youths: From assets to liability

Pakistan is blessed with intelligent brains and myriad of hardworking workforce, but how much is its utility in this land of pure is a million dollar question. When the skilled workforce is put to work, it is an asset and when it is not, it is a liability. In the same manner, more population means more businesses and more jobs, ... Read More »

FBR Chairman, Member Customs review revenue operations

KARACHI: The Federal Board of Revenue (FBR) Chairman Tariq Bajwa and Member Customs Nisar Muhammad Ali Khan visited Karachi Customs House to hold meetings with the Pakistan Customs officials on revenue operations at Chairman Secretariat. The Pakistan Customs Enforcement-South Chief Collector Muhammad Nazim Saleem, Appraisement-South Chief Collector Nasir Masroor, MCC Appraisement-East Collector Najeeb-ur-Rehman Abbasi, MCC Appraisement-West Collector Muhammad Saleem, MCC ... Read More »

Traders start preferring Karachi port over Islamabad Dry Port due to sit-ins

ISLAMABAD: The importers and exporters from Islamabad have started importing and clearing their consignments from Karachi port instead of Islamabad Dry Port due to sit-ins in the federal capital. The traders of Islamabad have been more vulnerable to the effects of the present political disturbance than of any other city in the country. Many importers have cancelled their orders due ... Read More »

Sialkot Dry Port Chairman urges dialogue, condemns road blockade

LAHORE: Sialkot Dry Port Chairman Muhammad Ishaq Butt has demanded all the political parties resolve the political issues through dialogue in the larger interest of the country. He said that political unrest in the federal capital had affected the exports from Sialkot Dry Port as all roads from Sialkot to Islamabad were blocked. “Exports have decreased by 30 percent during ... Read More »

Imran, Qadri sit-ins: A mixed week for KSE 100-index

KARACHI: A war of nerve between bulls and bears had been continuing at the Karachi Stock Exchange for the entire previous week as the KSE 100-index jolted many a time owing to Azadi and Inqilab marches led by Imran Khan, the chief of Pakistani Tehreek-e-Insaf (PT) and Dr Tahirul Qadri, the chief of Pakistan Awami Tehreek (PAT) in the federal ... Read More »