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Tag Archives: Exporters

Sri Lankan rupee rises on dollar sales by banks, exporters

COLOMBO: The Sri Lankan rupee ended firmer on Monday as dollar selling by exporters and banks outpaced importer demand for the U.S. currency, dealers said. The spot rupee ended at 152.45/55 per dollar, compared with Thursday’s close of 152.70/75. “There was selling today, lots of exporter conversions were there,” said a currency dealer, requesting anonymity. The rupee has been under ... Read More »

Thai Customs to audit importers, exporters

BANGKOK: It is common for Thai Customs Department officials to audit companies that import or export goods. The audits are generally random, and they almost always include a surprise inspection. Importers are rarely informed in advance by customs officials. During a customs audit, importers or exporters (companies) that deal in highly regulated products, such as chemicals and other raw materials, ... Read More »

Jordanian MUVF Exporters shows deep concerns about shortage of refrigerated treks

AMMAN: The Merchants Union of Vegetables and Fruits Exporters on Wednesday warned that the shortage in refrigerated trucks will cause a drop in the country’s agricultural exports and result in losses for farmers and producers. Union President Saadi Abu Hammad said demand for local produce is increasing in the Gulf market, which calls for raising the number of trucks. “Due ... Read More »

Iraqi authorities returned 75 Jordanian trucks loaded with fruits and vegetables

AMMAN: Jordan News Agency, Petra, reported, the Merchants Union of Vegetables and Fruits Exporters complained that Iraqi authorities returned 75 Jordanian trucks loaded with fruits and vegetables.  Haddadin said the goods were spoiled after the trucks waited for the border to open. Almost one month ago, the Iraqi government allowed Jordanian fruits and vegetables to enter the country without prior ... Read More »

South Korea signs free trade agreement with New Zealand

SEOUL: New Zealand has almost been the last cab of developed countries off the rank to conclude a free trade agreement with Korea, and the deals with about 50 other countries (EU representing 28) were putting New Zealand exporters at a disadvantage. “If we didn’t conclude this deal, we were facing the prospect of slowly being squeezed out of this ... Read More »

$80 to $100 price difference: 70pc EU buyers place 40,000 tonnes rice orders to Indian

LAHORE: Apart from other obstacles, the difference of around $80 to $100 per tonne in the export price of rice, foreign buyers mainly from EU have diverted their import orders of around 40,000 tonnes rice to India. As per details, 70 percent of the international buyers from EU countries have diverted orders from Pakistan to the Indian millers mainly due ... Read More »

NLC Dry Port: Appraisers’ low attendance worries importers, exporters, clearing agents

LAHORE: Importers, exporters and customs clearing agents have been facing hard time as appraisers often remain absent from their duties at NLC Dry Port located at Thokar Niaz Baig. Importer and exporters and clearing agents told the Customs Today that their business was suffering serious blows as appraisers at the Port were not attending the office properly. “Often one or ... Read More »

Exporters demand increase in duty draw back rates

KARACHI: The exporters and trade bodies have demanded Federal Board of Revenue (FBR) to increase the rate of Duty Draw Back (DDB) on exports due to significant increase in US dollar exchange rate since 2009, it is learnt here. The sources informed Customs Today that the authorities concerned of FBR have given the task to the Input Output Co-efficient Organization ... Read More »

Karachi Customs to follow-up pending cases against importers

KARACHI: The Model Customs Collectorate-MCC of Appraisement (West) has decided to take up the disciplinary cases which have been filed against the different importers and parties, it was learnt here on Thursday. The sources informed Customs Today that the Collector MCC-Appraisement (West) Muhammad Saleem has directed the authorities concerned of the Collectorate to open the cases which have been filed ... Read More »

Exporters show no mercy towards Kinnow growers

ISLAMABAD: Director Harvest Tradings Ahmed Jawad said it is unfortunate that growers, the real stakeholders of this industry are not given the proper price of their produce and every year they are dependent on exporters’ mercy. Speaking at a seminar he said besides, the cost of inputs, especially fertilizers and pesticides, is unpredictable. High cost of electricity with heavy loadshedding ... Read More »

FPCCI to organise Canada-Pakistan Trade Expo 2014 in Nov

KARACHI: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Zakaria Usman has said that the Chamber, in collaboration with Trade Development Authority of Pakistan (TDAP) and Consulate General of Pakistan, will organize 3rd Edition of Canada-Pakistan Trade Expo 2014 from November 18 to 21 in Toronto, Canada. Zakaria Usman said that the expo is the part of FPCCI’s ... Read More »

False refund claims to result in penalty: Collector Memon

KARACHI: The Model Customs Collectorate (MCC) of Exports, Collector Manzoor Hussain Memon, through a notice, has warned that false or misstated undertaking would not only result in the recovery of the duty drawback claim by exporters but also in the initiation of penal action against the claimant under Section 32(1) and (2) of the Customs Act, 1969. According to a ... Read More »

Incessant gas supply to textile sector sought

PRGMEA chairman says government has failed in ensuring provision of gas and electricity to industries in Punjab      SIALKOT: The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has demanded an incessant supply of gas to value-added textile sector. Talking to reporters in his office, PRGMEA Chairman Ejaz A Khokhar urged the government to evolve a comprehensive strategy to ... Read More »

Rice exporters ask Karachi Port to cut charges

KARACHI: Rice Export Association of Pakistan Chairman Rafiq Salman has said that the Karachi Port Authority has been charging Rs 1500 per container as demurrage on rice consignments which is unfair as others were charging Rs 150 for the same work. Talking exclusively to Customs Today, he said that traders were moving their businesses to other countries as they are ... Read More »

Dastgir vows to resolve foreign investors’ tax issues

KARACHI: The government will address all the problems faced by Overseas Investors Chamber of Commerce & Industry (OICCI), said Federal Minister for Commerce Engr Khurram Dastgir Khan. The federal minister, during his visit to OICCI, said that the government was introducing business-friendly policies and it was serious to resolve all the concerns of foreign investors, especially tax-related issues including timely ... Read More »

Textile exporters urge FBR to release tax refunds

KARACHI: The textile exporters have urged Federal Board of Revenue (FBR) to release the sales tax refund and customs rebates, which is creating enormous cash problem for the value-added sector. Pakistan Hosiery Manufacturers & Exporters Association (PHMA) Southern Zone Chairman Muhammad Babar Khan said that despite Finance Minister Ishaq Dar’s assurance, huge amount was blocked with FBR and no payment ... Read More »

‘Unrealistic’ policies blamed for hampering business at dry ports

FAISALABAD: The export and import business at upcountry dry ports of the country was sharply hampering and gradually sliding down due to unrealistic and distinctive policies of the government and in case this state of affairs is continued further, the dry ports would automatically sink and the investment of billions rupees in this sector would go down to drains. This ... Read More »

Pakistani textile products on display at Taxworld Fair

ISLAMABAD: Pakistani Ambassador to France Ghalib Iqbal has said that Pakistani Textile products have great potential of finding more space in European markets. He was talking to Mr Michal Scherppe, the President of Taxworld Fair being held in Paris. The ambassador visited Pakistani Pavilion and Pakistani entrepreneurs’ stalls, according to a message received here from Embassy of Pakistan in Paris. ... Read More »

Misusing DTRE: FBR plans crackdown on importers, exporters

KARACHI: The Directorate of Internal Audit of Pakistan Customs on the directives of Federal Board of Revenue (FBR) has started the audit of Duty Taxes Remission on Export (DTRE) and examination sector for the year 2013-14. According to details, the FBR authorities have asked the directorate of internal audit to finalize its audit report this week and submit it to ... Read More »

MDP Customs duty collection up by Rs704m in August

MULTAN: The Multan Dry Port (MDP) generated Rs873.300 million in the head of Customs duty during the month of August of current fiscal year 2014-15. The revenue collected in the month of August increased Rs704 million against Rs169 million collected in the month of July of the current fiscal year. Similarly, the monthly collection of Sales Tax on import in ... Read More »