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Tag Archives: Customs News

Vegetables, fruit sellers fleece consumers in Sunday Bazaar

LAHORE: Vegetable and fruit seller are fleecing the consumers in Sunday Bazaars owing to absence of district authorities. The district management was busy Muharram related security and other arrangements, providing opportunity to the sellers to loot the consumers at city markets. Increasing trend in the prices of majority of vegetables was continued amid the unavailability or shortage of summer season ... Read More »

Apple’s iPhone 6 loses charm in UAE

DUBAI: The UAE’s Telecommunications Regulatory Authority (TRA) on Monday showed the findings of a review it has undertaken of the nation’s most popular smartphones and other mobile phone handsets which showed Apple’s iphone have lost exclusivity in UAE. With more than two handsets each on an average, UAE consumers are at the proverbial cutting edge of technology adoption. So, which ... Read More »

Strong rupee increased net collection of customs duty by 1 % : FBR Year Book 2013-14

ISLAMABAD: Increase in value of rupee versus dollar pushed net collection of customs duty up by around one percent in fiscal year 2013-14, a according to the Year Book 2013-14 issued by the Federal Board of Revenue (FBR). The Year Book 2013-14 of FBR showed that the Customs duty contributed around 17.4percent and 10.6percent in the indirect taxes and federal ... Read More »

Increase in wheat support to Rs 1300 per 40 kg to benefit farming: PM Nawaz  

ISLAMABAD : The decision to increase in the support price of wheat to Rs 1300 per 40 kg and cut in the petroleum prices, particularly in the price of diesel would benefit farming, said Prime Minister Nawaz Sharif in a statement issued the here the other day. He said the government was fully cognizant of the problems of the people ... Read More »

China’s shares hit multi-month high; HK fall

SHANGHAI: Sustained strength in blue-chip brokerages and steel firms put China shares on to Monday hit a multi-month high On the other hand, Hong Kong markets fell as profit-taking emerged after the recent solid gains. The Shanghai Composite Index rose 0.6 percent to 2,435.0 points by the midday break, the highest level since February last year, while the CSI300 of ... Read More »

Power ministry increases electricity tariff by Rs1.5 per unit in garb of equalisation surcharge

ISLAMABAD: In a bid to befool the poor masses, the government threw another electricity bomb on power consumers by imposing another equalisation surcharge at an average rate of Rs1.5 per unit to appease IMF, it was learnt. The new surcharge will be imposed on consumers of all electricity distribution companies, except K-Electric, with retrospective effect from October 1 that would ... Read More »

Deadline for PIA privatization postponed till October 2015

LAHORE: The deadline for Pakistan International Airlines (PIA) has been postponed till October 2015 due to political unrest in the country, it has been learnt The offloading of a 24% stake in the carrier, part of the conditions Pakistan accepted in return for an International Monetary Fund (IMF)-provided USD6.67 billion Extended Fund Facility (EFF) agreed to last year, was slated ... Read More »

Sindh Food Dept seizes 265,400 low quality wheat bags; 12 flour mills issued notices

KARACHI: Following the directives of Provincial Minister for Food and Health Jam Mehtab Hussain Dahar, the Sindh Food Department the other day issued show cause notices to 12 flour mills and captured 265,400 wheat bags imported from Ukraine and Russia, says a press release issued by the Sindh Food Department. “During crackdown in two days against flour mills over increasing ... Read More »

Exports of halal meat increases 9 percent ; touches $230.2 million mark

ISLAMABAD: Halal meat export showed an increase of nine percent and reached  $230.2 million during financial  2013-14 from US $ 211.1 million in same period last year, according to Commerce Division. The export of other food touched US$ 4393.7 million mark as the export value of some food items like rice, fish, fruits and oil seed has increased whereas export ... Read More »

Quetta Customs collects Rs 980 million revenue

LAHORE: Customs Collectorate, Quetta has collected an amount of Rs 980 million revenue in share of Customs Duty (CD), Sales Tax (ST), Withholding Tax and Federal Excise Duty (FED) in the months of July to October, 2014, more than 20 percent collected in same period in 2013, Collector Customs Zahoor Akhtar Raja said on Saturday. He said that Customs personnel ... Read More »

Rice exporters demand 20% cut in shipping fares

KARACHI: The Rice Exporters Association Pakistan have demanded cut in fares of shipping companies. Talking to Customs Today, Rice Exporters Association Pakistan Fareeq Salman said goods transporters have reduced five percent fares which is not justified. He demanded 20 percent cut in fares. He urged the government to facilitate rice exporters fares of containers. He appealed to Prime Minister Nawaz ... Read More »

Excise dept recovers Rs 20 million from defaulter vehicles

Lahore: Punjab Excise and Taxation Department recovered a big amount of Rs 20 million from defaulter vehicles. The owners of the vehicles had not paid token tax for years. According to Director Excise and Taxation Motor Branch Imran Aslam, this amount was recovered from defaulter vehicles in September and October. “The vehicles also include that fall in the category of ... Read More »

Taxpayers facilitation top priority: Collector Najeeb

KARACHI: Proper valuation, neat collection and taxpayers facilitation are top priority of Model Customs Collectorate of Appraisement-East. Highly-placed sources in the Collectorate told Customs Today that since valuation is susceptible to manipulation it is an area of acute focus for the Customs. Correct classification as well as ascertaining of description do not only ensure speedy clearance of consignments but also ... Read More »

Customs seizes 2 containers worth Rs 13 million

FAISALABAD: The Anti-Smuggling Department of MCC, Faisalabad has seized two containers loaded with cumin and Chili seeds worth Rs 13 million. Anti-Smuggling Department Faisalabad senior officer Tanver Ahmad told Customs Today that they had covered both containers from Kamalpur M-3 Motorway Interchange Faisalabad. He added that both the containers were being smuggled from Kashmir to Faisalabad. The value of the ... Read More »

Pakistan imports Rs 955 million items from India via Wagha

LAHORE: Pakistan imported items worth Rs 955 million from India via Wagha border during October 23-31, according to documents available with Customs Today. Pakistan imported tomatoes, garlic and polyethylene, polypropylene and condensers for steam. Pakistan imported 14,685,404 kg tomatoes worth Rs 693 million while Rs 41 million was generated by getting income tax on tomatoes. On the other hand, garlic ... Read More »

Ishaq Dar to participate in ‘International Investors Conference’ in Morrocco

ISLAMABAD: Finance Minister Ishaq Dar met Moroccan Ambassador in Pakistan Mustafa Salahuddin in Islamabad and the latter invited Dar to participate in International Investors Conference. The conference is scheduled to take place from 20th to 21st of this month in Morocco. Both also discussed economic cooperation between Pakistan and Morrocco. The Finance Minister during the meeting said both the countries ... Read More »

12 pump owners booked for not selling petrol at reduced price

LAHORE: The City District Government of Lahore (CDGL) has got registered 12 cases against petrol pump owners for not selling petrol at reduced price. TCity District Government of Lahore (CDGL) teams sealed eight pumps for refusing the sale of the fuel at new rates. The teams also got 12 cases registered against the owners, according to spokesperson for the CDGL ... Read More »

Farmers reject govt raise of wheat support price at Rs1,300

ISLAMABAD: Farmers rejected wheat support at Rs1300 per 40kg for the 2014-15 crop by the government. Finance Minister Senator Mohammad Ishaq Dar increased support price of wheat at Rs1300 per 40kg for the 2014-15 crop by the government. The decision has been taken to facilitate the farmers’ community in the country, said a brief statement issued by the Finance Ministry ... Read More »

Malaysian Frontier Digital Ventures to invest $3.5 million in PakWheels  

LAHORE: Frontier Digital Ventures will invest US$3.5 million into PakWheels.com Frontier Digital Ventures is a Malaysia-based venture capital fund which is focused on online classifieds businesses in the emerging and frontier markets and PakWheels.com has signed venture capital investment deals into a Pakistan technology venture. Muhammad Raza Saeed, Co-Founder and CEO of PakWheels.com, said while commenting on the deal, “Pakistan’s ... Read More »

PakWheels to organise biggest Islamabad Auto Show 2014 in current month

  KARACHI: The Islamabad Auto Show 2014 organised by PakWheels will be held in November. The third auto show promises to be the biggest annual auto event in the city, with a static display of more than 500 exclusive vehicles, including vintage cars, 4x4s, exotics, sports cars, bikes and much more, a statement of PakWheels said the other day. Fascinating ... Read More »