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Tag Archives: Customs Today

Lahore roads blockade causes Rs60m loss to traders

LAHORE: Importers and exporters have suffered losses of millions of rupees as government confiscated containers full of different perishable goods to block the roads across the country. The Lahore Clearing Agents Association president Agha Iftikhar said that now after one week of containers confiscation the commodities have been rotten and no one will ready to bear the damages. “Traders of ... Read More »

Dubai customs seizes contraband worth Rs478.37 million

DUBAI: Customs officials seized 139 counterfeit items worth Rs 478.37 (Dh17.6 million) in the first half of this year as part of its efforts to discourage smuggling attempts. The contraband seized include apparels, mobile phones and accessories, automotive spare parts, watches and sunglasses. Dubai Customs claimed that it always ensures that its inspectors were taking the extra mile and utilize ... Read More »

Dar to present report on SECP statement of accounts to NA

ISLAMABAD: The Finance Ministry has received the annual report on statement of accounts of the Securities and Exchange Commission of Pakistan SECP) for fiscal year 2012-13. “The annual report on SECP statement of accounts is certified by the auditors” a Finance Ministry official told Customs Today while seeking anonymity here. The official informed that Finance Minister Ishaq Dar would present ... Read More »

MQM resolution: Senate may prod govt into broadening tax net

ISLAMABAD: The Upper House of the Parliament, which is scheduled to meet on Monday, may press the government to take immediate steps to broaden tax base. Well placed sources revealed to Customs Today that MQM Senator Col (r) Tahir Hussain Mashhadi has submitted a resolution to the Senate Secretariat in this regard and the Senate is likely to adopt the ... Read More »

Azadi, Inqilab marches: South Punjab faces severe paucity of veg, fruit

MULTAN: Local Markets of entire South Punjab including Multan are facing severe shortages of vegetables and fruits due to the prevailing political impasse caused by the Azadi and Inqilab marches of the Pakistan Tehreek-e-Insaf and Pakistan Awami Tehreek (PAT). The transporters from Upper Punjab and Sindh are not supplying vegetables and fruits to markets of South Punjab including Multan due ... Read More »

E-filing, E-tax collection key to end evasion: Rehman Malik

ISLAMABAD: Chairman Senate Standing Committee on Planning and Development and former Interior Minister Rehman Malik counted a foolproof E-filling and E-tax collection system as the sole solution to all the problems confronted by the country’s tax collection apparatus. “In my point of view, if strenuous efforts are made, our tax collection system can be upgraded in maximum three years; every ... Read More »

China Customs blocks Hershey’s milk products over health risk

GUANGDONG: China Customs has blocked import of a number of Hershey’s milk products into China after it was found that they contained banned artificial sweeteners and coloring agents. On the other hand, a spokesperson for Hershey explained that the milk beverages, seized by Customs, were manufactured by an authorized US licensee. “We respect China’s food security laws and try to abide ... Read More »

LHC restrains FTO from exercising contempt of court powers

LAHORE: The Lahore High Court stopped the Federal Tax Ombudsman from using contempt court powers. Advocate Akram filed a petition, submitted that the Federal Tax Ombudsman was using contempt of court powers under Article 204 of the Constitution. He said that exercising such power by the department was unconstitutional as the FTO was created as a result of statutory law ... Read More »

Stagnant inflow, debt servicing shrink forex reserves

KARACHI: Foreign exchange reserves of the State Bank of Pakistan declined due to external debt servicing and no fresh inflow over the past two months. According to a State Bank report, the reserves held by the bank declined by $89 million to $9.188 billion during the week ended on Aug 8 as against $ 9.277bn in the previous week. Total ... Read More »

Customs I&I captures Industrial base oil worth Rs20m

MULTAN: The Customs Intelligence and Investigation Multan claimed to have captured huge quantity of Industrial base oil worth approximately Rs20 million. On a tip-off, the Custom I&I carried out an operation against illegal smuggling of industrial oil near Chowk Maitla and seized a huge quantity of oil loaded in a container, weighing approximately 18 tonnes. The operation was led by ... Read More »

Direct export to CARs: Commerce Ministry for removal of impediments

ISLAMABAD: The Ministry of Commerce is intended to press the government to hold talks with Afghanistan to resolve issues barring Pakistani exporters from direct exports to Central Asian Republics (CARs). Currently Pakistani exporters have to export their goods to Afghan importers who export these onwards to CARs. The Ministry wants the government to take up the issue with Afghan government ... Read More »

Tueday August 12 -Mon August 18, 2014

Customs Today News Paper

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Islamabad Dry Port bosses to write to FBR for forensic lab

ISLAMABAD: Islamabad Dry Port Customs Deputy Collector Miss Aysha and Additional Collector Yawar Nawaz have decided to write to the Federal Board of Revenue (FBR) for the establishment of a forensic lab at port. As per details, the management of Islamabad dry port has decided to have a forensic lab as fabric importers have been facing difficulties in lab testing. ... Read More »

Traders want peaceful resolution of political problems

ISLAMABAD: The trading community has suspended all trade and transportation activities across the country ahead of the proposed Azadi march of Pakistan Tehreek Insaf (PTI) and Pakistan Awami Tehreek (PAT). Sharing their views with Customs Today, trade associations including Federation Chambers of Pakistan, All Pakistan Trading Association, Islamabad Chamber of Commerce and Traders Welfare Association expressed great regret over current ... Read More »

19 State Owned Enterprises earn Rs 246b profit: Finance Ministry

ISLAMABAD: Out of 32 state owned enterprises on the list of privatisation, 19 of them have earned nearly Rs 246 billion profit during the previous financial year. The Federal Finance Ministry’s documents available with ‘Customs Today’ reveal that these enterprises have been showing a steady increase in the volume of their profit for the last five years — 2009-2013. It is important to mention here that the current and ... Read More »

FBR detects 3 fake refund cases worth Rs160.947m

ISLAMABAD: The Federal Board of Revenue has registered three illegal refund claiming cases during last year as strict actions by the revenue agency avoided issuance of cheques. Sources revealed to Customs Today that due to the strict measures taken by the current government, no major fake refund case has surfaced during last year. “Only three new cases of illegal refund ... Read More »

Sialkot Dry Port chairman calls for amicable solution to political crisis

SIALKOT: Sialkot Dry Port Trust (SDPT) has suspended all the transport services across the country following the prevailing political unrest in the country. Sialkot Dry Port Trust (SDPT) Chairman Muhammad Ishaq Butt told Customs Today that the SDPT has suspended its transport services in a bid to avoid the damages and losses to the containers carrying the export and import ... Read More »

FBR asks customs officers to declare assets

Multan: The Federal Board of Revenue (FBR) has directed Inland Revenue officers and Customs officers to declare their assets details before August 15. As per details, FBR issued a notification to all regional tax offices and custom offices on July 24 to declare their assets before July 30 but due to Eid ul Fitr holidays the date extended further to ... Read More »

PNSC to sign MoU with Sri Lankan ports authority

ISLAMABAD: A memorandum of understanding (MoU) will be signed between the Pakistan National Shipping Corporation (PNSC) and Sri Lankan Ministry of Highways, Ports & Shipping during upcoming visit of Sri Lankan President Mahinda Rajapaksa to Pakistan. The Sri lankan Minister of Highways, Ports & Shipping Rajapaksa is due to visit Pakistan from August 21. Under the said MoU the Sri ... Read More »

Cartels continue to manipulate potato price

ISLAMABAD: Federal Minister of Finance Ishaq Dar has admitted that about 10 to 11 brokers had booked potato crop of last year and wanted to sell it on their own rates of Rs 150 per kg. He said that intelligence sources provided names and other details of these dealers involved in black marketing. On question about possible action taken against ... Read More »