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Tag Archives: Customs Today

ANF seizes 3,556-kg drugs, arrests five smugglers

ISLAMABAD: The Anti-Narcotics Force (ANF) claimed to have arrested five drug peddlers with huge quantity of drugs, including 3,534 kgs of hashish, 19 kgs of heroin and 2.4 kgs of opium in different cities. The raids were carried out in Islamabad, Lahore, Haripur, Sukkur, Qilla Abdullah and Turbat. According to details, in Quetta while acting on a tip-off, the conducted ... Read More »

PICT assures FPCCI of tackling congestion at terminal

KARACHI: Pakistan International Container Terminal (PICT) Chief Executive Officer Zafar Iqbal Awan has assured the FPCCI delegation of taking all necessary measures to ease congestion at the terminal. The delegation, comprising FPCCI Standing Committee on Customs members and led by its Chairman Saqib Fayyaz Magoon, called on the PICT CEO here. Later, Mr Magoon informed that the FPCCI delegation held ... Read More »

Economy in the dock

Through their contradictory statements, the government ministers have been repeatedly warning the nation about billions of rupees losses to the national exchequer since Imran Khan, chief of the Pakistan Tehreek-e-Insaf, and Dr Tahirul Qadri, chief of the Pakistan Awami Tehreek started their marches and sit-ins in the twin cities of Islamabad and Rawalpindi. Khurram Dastgir, the federal commerce minister, puts ... Read More »

Attack on JIAP: Importers without recourse to get back paid duty, tax amount

KARACHI: The terrorists’ attack on Karachi airport on the night of June 9 last, has not only resulted in the destruction of imported goods worth billions of rupees but have also left hundreds of importers without any recourse to get back over Rs69 million paid in head of customs duty and tax to the Sindh government for the goods they ... Read More »

Amends made to valuation ruling of auto-parts

KARACHI: The Customs Valuation has made a number of amendments to the Valuation Ruling No.661/2014 after a thorough examination and threadbare discussion with stakeholders. According to a letter No Misc/22/2009-VIIIA/7445 dated August 29, issued by Customs Director (Valuation) Abdul Rashid Sheikh, the Customs values of various replacement auto-parts were determined vide Valuation Ruling No.661/2014 dated March 3, 2014 and amendments ... Read More »

Pak, China striving to lift trade ties under FTA

ISLAMABAD: With the aim to enhance volume of bilateral trade, Pakistan and China are committed to resolve the issues of electronic data interchange, sanitary and phyto-sanitary measures (SPS) and technical barriers to trade (TBT). According to the Ministry of Commerce (MoC), trade volume between Pakistan and China which was around $4.1 billion in t 2006-07 has reached all-time high in ... Read More »

PITAD plans holding 15 seminars for businessmen

ISLAMABAD: The Pakistan Institute of Trade and Development (PITAD) in collaboration with chambers and other trade associations has planned about 15 seminars on “Trade & Economic Issues” for business community in 2015-16. The PITAD would also undertake a number of short and long training courses on “International Trade & Economy” and would establish “National & International” linkages to undertake quality ... Read More »

Opening: Stocks shrug off overnight loses, gain 364 points amid flurry of speculations

KARACHI: Despite the gloom and doom prevailing across the political spectrum and persisting standoff, the Karachi Stock Exchange KSE-100 index shrugged off overnight losses and started the day with a positive note, gaining 364 points or 1.28 percent to cross 28858.77 in early trading on Tuesday. The market seems to have been responded to the optimism fuelled by hopes pinned ... Read More »

Tuesday Sept 2 – Monday Sept 08, 2014

Customs Today News Paper

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Multan Customs seizes plastic grains, cloth worth Rs 15m

MULTAN: The Multan Customs Intelligence and Investigation has captured two trucks of imported cloth and plastic grains in separate raids. According to reports, the customs officials intercepted a truck near Dera Ghazi Khan and seized huge quantity of Iranian-origin plastic grains being transported to Lahore. Customs Intelligence and Investigation Additional Director Nisar Ahmad constituted special teams to foil the smuggling ... Read More »

Vehicle amnesty scam: FBR seeks replies from delinquent officers by Sep 10

KARACHI: The Federal Board of Revenue (FBR) has directed the customs officers, who were charged for corruption in vehicle amnesty scheme, to submit their replies by September 10, 2014. FBR Member Administration Shahid Jatoi has charge-sheeted 25 officers from BPS-17 to BPS-20, including Dr Zulfiqar Malik, the then collector appraisement, Sarfaraz Warraich, the then collector at Sambrial and Dr Naeem ... Read More »

Midday: KSE loses 297 points as political heat rises further

KARACHI: The three-week-long tumultuous political situation and use of brute force to quell the protesters by police for second consecutive day took its toll on the stocks as Karachi Stock Exchange KSE 100-index lost 297.03 points or 1.04 percent to fall to 28,270.71 in midday trading on Monday. The market opened on a depressing note over political turmoil and straight ... Read More »

Traders vehemently condemn vandalism by PAT, PTI activists

ISLAMABAD: All the chambers of commerce and industries across the country including the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) vehemently condemned vandalism by the activists of Pakistan Awami Tehrik and Pakistan Tehrik-i-Insaf and termed it a conspiracy against the country. Acting FPCCI President Shaukat Ahmad said that “Acts of vandalism, destroying or damaging public property deliberately, especially ... Read More »

Weekly roundup: Bears reign KSE amid Imran, Qadri sit-ins

KARACHI: As the Azadi and Inqilab marches led by Pakistani Tehreek-e-Insaf (PTI) Chairman Imran Khan and Pakistan Awami Tehreek (PAT) chief Dr Tahirul Qadri entered third week, the bears and bulls kept fighting the whole last week at the Karachi Stock Exchange. The KSE 100-index started last week journey with initial 28,871.75 points and lost 304.01 points in five days ... Read More »

ANF seizes narcotics worth Rs 244m, arrests 15 smugglers

ISLAMABAD: The Anti-Narcotic Force (ANF) claims to have recovered 578 kilogramme charas, 13.45 kilogramme heroin, six kilogramme opium and 500 gramme amphetamine during 12 raids carried out in Islamabad, Attock, Faisalabad, Peshawar, Gilgit, Quetta and Karachi. The force also arrested 15 peddlers, including a woman and seized three vehicles. According to details, the Peshawar ANF intercepted a tractor-trolley near Kachagarhi ... Read More »

Swiss banks hit by huge deposit outflow in tax crackdown

ZURICH: Swiss banks have suffered from a massive outflow of funds since 2008 due to the international crackdown on tax evasion. According to a survey by auditors PricewaterhouseCoopers attributed much of the outflow — totalling almost 350 billion Swiss francs (290 billion euros, $380 billion) — to customers paying fines for undeclared assets held in Swiss accounts. The report said ... Read More »

Customs Today Web TV – Coming Soon

Customs Today Newspaper from Customs Today on Vimeo. Read More »

FBR extends date for filing income tax returns

ISLAMABAD: The federal government extended the date for filing income tax returns following the failure to address technical glitches in the online portal, depriving the taxpayers of incentives linked with timely filing of returns including reduction in tax rates. According to the Federal Board of Revenue (FBR) notification, the last date for filing income tax returns for fiscal year 2013-14 ... Read More »

Midday: KSE-100 index cheers up at hope for end to political impasse

KARACHI: The stocks was buoyed up by the hope for an apparent end to the prevailing political impasses as Karachi Stock Exchange 100 index bounced back with an increase of 886 points to reach 28660.37 in the midday trading on Friday. Sentiments at the market were high at the opening of the day as it gained more than one thousand ... Read More »

Forex reserves stand at $13b

KARACHI: The total liquid foreign reserves of the country stand at $13.58106 billion, said State Bank of Pakistan (SBP). According to the SBP weekly report, the foreign reserves held by State Bank on August 22, amounted to $8.55404 billion and the net foreign reserves held by other banks were $5.02702 billion. Over last week, SBP’s liquid foreign exchange reserves decreased ... Read More »